Ethereum chinese name
The transition from proof-of-work to proof-of-stake could create a shakeup either way for the second-largest cryptocurrency on the market. Ethereum 2. Currently, Ethereum ranks second among virtual currencies over billion in market capitalisation , a solid second to the crypto king, Bitcoin, but its usefulness is not only monetary. Ethereum is also the most used blockchain for NFTs as well as for exchange platforms.
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- Understanding Ethereum, Bitcoin’s Virtual Cousin
- Why Vitalik Buterin is Known as the 'V God' in China
- In Conversation with Vitalik Buterin Co-Founder of Ethereum On Eth 2.0 Finance and China
- Price comparison of 100 cryptocurrencies as of January 10, 2022
- This Company Is Bringing Ethereum Blockchain Tech To China’s Tech Giants
- Bitcoin falls further as China cracks down on crypto-currencies
- China's decision to declare crypto illegal sparks panic sales in India
- S&P Ethereum Index
- DeFi: Can decentralized finance defy China’s crypto controls?
Understanding Ethereum, Bitcoin’s Virtual Cousin
Employees enjoyed patiently tinkering with creative projects and going home at a reasonable time, free from the tyranny of startup culture.
The company was founded in , and though its namesake protocol helped shape the modern internet, by , the company was languishing. After all, not all influential things make money. BitTorrent had a challenging reputation. Its technology, a peer-to-peer protocol that allows large files to download quickly, was notorious because those large files tended to be pirated movies and music. Its genius came from being decentralized — spreading the burden of bandwidth, and liability, across a number of users instead of one company.
It supplied a technology and had no responsibility for the pirated content illegally distributed by it. Soon it emerged the BitTorrent acquisition rumors were true. The man buying the company was a young Chinese uber-millionaire named Justin Sun.
It seemed like a fit. Some employees were excited. Later, employees would discover he was more than willing to embrace it. But right away, Sun struck some BitTorrent employees as a controversial character. Twitter was abuzz with allegations that the document was plagiarized, borrowing heavily from two other papers. Then there was his alleged abusive conduct, which ranged from threats of violence to actual physical violence in the office.
Employees had mixed opinions when BitTorrent was acquired. In all, 18 insiders, current and former, spoke to me on the condition their names not be used out of fear of retaliation, with one exception who is on the record. Sun and Tron did not respond to repeated requests for comment. The app matched people using voice clips, but the app also had audio chat rooms where hosts flirted with soundbites that generally contained content that exceeded pillow talk.
In fact, a user might drop into a chat room only to discover their host was already in the throes of orgasm. It was easy to understand why the app was successful when its content so often bordered on some kind of aural pornography. Part of what made the deal unique was the clash-of-superpowers atmosphere that surrounded it.
According to the Pentagon, Chinese businesses have tapped into a roaring pipeline of intellectual property and funneled it back to mainland China. In the summer of , some American experts were saying the US-China trade policy damaged the US economy with little benefit and evoked Cold War paranoia. After the purchase of BitTorrent, Sun suddenly straddled the conflict, with one foot in Beijing and the other in San Francisco.
Senior employees at BitTorrent were concerned the US government might scrutinize the merger. Sun was unfazed by the risks of the US-China trade war looming above. They provided a technology. Since the rise of bitcoin, a bevy of cryptocoins have emerged, jockeying for dominance, their value often entirely speculative.
BitTorrent moved out of its old building encircled by a freeway ramp and into a skyscraper downtown at Howard St. They marveled at the panoramic of San Francisco Bay. Catered lunches became the norm. By this point, employees knew Sun only through video chat.
I would say no nonsense, but at this time, it was kind of in a playful way. Not in a threatening way. Sun finally flew to San Francisco to build his cryptocurrency empire, wearing his signature Gucci sneakers bedazzled with large pineapples over the laces every day. Sun told employees that, for one day, he was richer than Bill Gates. Sun fancied one of the conference rooms, so he seized it as his office.
It was impossible to see through its frosted glass walls, but employees occasionally entered to fulfill random tasks for Sun and emerged with concerns about what they saw. It was noteworthy because Sun apparently had no lock on the door. He juggled more than five phones and sometimes disappeared to China for weeks, leaving his phones, and potentially proprietary information inside them, laying on his desk.
Some employees feared a shakedown if one went missing. While Sun may have played fast and loose with his stacks of cash and phones, his expectations for employees were very different. A former employee says that Sun once began a meeting with a five- or minute diatribe about how his driver accidentally locked him in his car in Beijing. Something about a child safety lock. Sun was furious. Sun expected the doctor to come see him. Sun and Tron leadership in Beijing joined remotely.
It derives its value from people actually using it, which is why Sun evangelizes Tron. Because he was born in a poor, rural province of China, Qinghai, Justin Sun always felt he needed to prove himself. As a child, Sun left home to study the ancient game Go in Wuhan.
He overcame his disadvantages with cleverness and focus. He can work 20 hours a day. In the article, Ma demanded employees be grateful they have a job, that people envied them. Is he trying to say that we should start this bullshit? During one 5AM call, Beijing time, SF employees were surprised by the appearance of the lead engineer on the call. While the engineers were indentured to the credo, coding at all hours, everyone else at the Beijing office ignored it.
Another employee asked HR what might happen if they refused to install it. HR replied that a list of noncompliant employees was being compiled and sent directly to Sun. The former employee harkened back to the moment. A couple of former employees told me about their past experiences working in Beijing. A former employee also believed both had an affinity for dictatorial power.
Tron started deleting any post it wanted. Bristling, perogies threatened to reveal his payments publicly. Sun eventually built an office in Shenzhen, China, where programmers worked on copycats. Meanwhile, questionable developers gathered on the Tron Network like ants to sugar. We had zero way of contacting them. So these people would get on our blockchain and scam. Scammed users tried to fight back. Even though Tron succeeded in deflecting scam victims and criticism on Reddit, the company was about to suffer a very public self-inflicted wound.
As a promotional stunt, Sun raffled off a Tesla. Crypto watchers thought it was a sham. But the online furor was too much, and Sun retracted the Tesla. Sun did a new drawing, with a new winner, but the controversy continued. So he gave away two Teslas, one for each winner. The Tesla debacle was important, internally, for another reason. Multiple former employees could hear Sun screaming at people in his office, his shouts echoing down the hall.
Sometimes he leapt out of his office, slammed the door, and unleashed a rageful howl at no one in particular. Employees talked about times when they could hear him kick his door while eviscerating workers in his office or over the phone. Everyone dreaded meetings. The media hype was considerable. The next day, Chinese newspapers published stories that Sun was not only suspected of illegal fundraising, gambling, and money laundering, but supposedly detained by Chinese authorities in Beijing.
He appeared in his white-walled San Francisco apartment, the Bay Bridge over his shoulder. Employees told me what actually transpired. It was apparently intolerable for a Chinese citizen to lunch with the US president during the trade war.
The authorities targeted Tron. Their phones were confiscated, and they were told Justin Sun was under investigation for corruption. One of the detained employees was so scared she began crying.
Sun finally told his inner circle what happened. I would have shit my pants if the Chinese government comes in. Kidney stones were the result. The stories emerging in the Chinese press were also false. Sun gathered the company for an all-hands. He sauntered in, laughing.
Only hours before, they were told Sun had kidney stones, yet here he was, in perfectly good health.
Why Vitalik Buterin is Known as the 'V God' in China
Using clever workarounds, Chinese NFT players are managing to weather a regulatory ban on cryptocurrency. In the past two months, Chinese social media and gaming giant Tencent has built an NFT purchase and collection app, ecommerce platform Alibaba sold 50 NFT mooncakes in a stunt to promote a metaverse product and half a dozen startups are competing to be the winner of the localized non-fungible token trading market in China. But a bevy of major players in China — from Big Tech, blockchain startups, art auction houses and retail brands — have joined the NFT hype. Many of the reasons they are dipping their toes in the open sea of NFT works are hardly different from that of their Western counterparts: the blockchain-enabled protection of IP rights, excitement over a new way of trading and curating artwork and the free press they get for being associated with a trendy concept. But in China, NFTs aren't about making quick cash. Instead, NFT players in China are trying to steer clear of cryptocurrencies, even though NFTs are, in their nature, deeply intertwined with crypto.
In Conversation with Vitalik Buterin Co-Founder of Ethereum On Eth 2.0 Finance and China
Ethereum is a decentralized , open-source blockchain with smart contract functionality. Amongst cryptocurrencies, Ether is second only to Bitcoin in market capitalization. Ethereum was conceived in by programmer Vitalik Buterin. Additionally, many other cryptocurrencies operate as ERC tokens on top of the Ethereum blockchain and have utilized the platform for initial coin offerings. Ethereum has started implementing a series of upgrades called Ethereum 2. Ethereum was initially described in a white paper by Vitalik Buterin ,   a programmer and co-founder of Bitcoin Magazine , in late with a goal of building decentralized applications. Hoskinson left the project at that time and soon after founded IOHK, a blockchain company responsible for Cardano.
Price comparison of 100 cryptocurrencies as of January 10, 2022
Here's What Investors Should Know. Ethereum Just Hit a 6-Month Low. Upgrade Bitcoin Rewards Card: 1. There Are Thousands of Different Altcoins. John Puterbaugh is a journalist with more than 10 years of experience leading editorial teams in personal….
This Company Is Bringing Ethereum Blockchain Tech To China’s Tech Giants
Producer, director, actor and politician Kamal Haasan is set to become the first Indian celebrity to have his own digital avatar in a metaverse. Choose your reason below and click on the Report button. This will alert our moderators to take action. Stock analysis. Market Research. Nifty 17,
Bitcoin falls further as China cracks down on crypto-currencies
Further, all cryptocurrency transactions in China are considered illegal, including offshore exchanges to provide services to Chinese citizens. The authorities stated that China-based employees of offshore crypto exchanges or any companies providing services to them will be investigated and prosecuted. On the same day, the National Development and Reform Commission NDRC and 10 other authorities issued another circular the NDRC circular to local governments on how to wind down cryptocurrency mining activities in their areas. China joins a growing list of countries where cryptocurrencies are banned or restricted. Egypt, Indonesia, and Nepal are among where these restrictions exist. This ban is part of a national crackdown on the currency form.
China's decision to declare crypto illegal sparks panic sales in India
A lesser-known name in the world of crypto, Poly Network is a decentralized finance DeFi platform that facilitates peer-to-peer transactions with a focus on allowing users to transfer or swap tokens across different blockchains. For example, a customer could use Poly Network to transfer tokens such as bitcoin from the Ethereum blockchain to the Binance Smart Chain. Poly Network was founded by Chinese entrepreneur Da Hongfei, who is currently chief executive of Neo, a blockchain platform.
S&P Ethereum Index
Whatever your opinions on cryptocurrencies — from a dyed-in-wool fanatic to utter skeptic — the fact remains that these digital assets are becoming a more important part of the payments world. We are seeing this fact play out on the Mastercard network, with people using cards to buy crypto assets, especially during Bitcoin's recent surge in value. We are also seeing users increasingly take advantage of crypto cards to access these assets and convert them to traditional currencies for spending. To be clear, this data is not of any individuals — it's anonymized and in aggregate — but the trend is unmistakable. We are preparing right now for the future of crypto and payments, announcing that this year Mastercard will start supporting select cryptocurrencies directly on our network.
DeFi: Can decentralized finance defy China’s crypto controls?
Listen to this article. We take a third view: Not only has technology already changed the global order, but it is also changing the nature of both companies and states themselves. The 21st century belongs not to China or the United States—nor to tech companies as traditionally understood. It belongs to the internet. This is true for many reasons, of which perhaps the most important is the rise of decentralized protocols like Bitcoin and Ethereum that are controlled by neither states nor companies. Here are 10 ways in which we are transitioning from an age of geopolitics to one of techno-politics. Traditional geopolitics of the Mackinder school of thought concerns itself with the eternal location of territorial powers.
China is expected to become the first major global economy to launch their own central bank digital currency, leading the way for a number of reasons. China is expected to become the first major global economy to launch a CBDC, having devoted five years to its research and system development. The country has already piloted its new currency in four major cities and key economic regions: Beijing, Tianjin and Hebei, the Yangtze River Delta, and the Guangdong, Hong Kong and Macau area.