Community Observation: 2019.09.03
Community Observation publishes insightful opinions and interesting thoughts collected from the SimpleChain community. If you have any thoughts/opinions about blockchain/crypto that you’d like to share, feel free to contact us through our Telegram group.
The Value of Bitcoin
By 帕西法尔
I was chatting with a media professional today and we talked about the relationship between the price and the value of Bitcoin.
The price of Bitcoin is formed by a large number of tradings in major crypto exchanges around the world. There is a certain relationship between the price and the value of Bitcoin.
The value of Bitcoin consists of two parts. First, the consensus value of the entire Bitcoin network. Second, the sum of the value of asset exchanges generated in a weak trust environment.
The current price of Bitcoin mostly reflects the consensus value of the entire Bitcoin blockchain network, and the value of asset exchanges generated under weak trust environments is not fully correlated.
Consensus can be very fragile sometimes, and this fragility resulted in the large fluctuations in Bitcoin prices.
However, the value of achieving efficient resource allocation in a weak trust environment is very stable, and the volume will become larger and larger, and we shall wait patiently for this critical point.
Bitcoin’s value is still far from being fully disclosed.
About SimpleChain
SimpleChain is a PoW main chain with flexible sub-chains. Different sub-chains can adopt different kinds of consensus and block data structure as needed, to support a variety of applications and use cases on blockchain. Sub-chains also support sharding to improve performance. This double-layered structure of one main chain and multiple sub-chains can fuel various applications while ensuring the consistency of the network.
Built on Baoquan Chain, SimpleChain’s first sub-chain, Baoquan.com provides electronic data services including electronic evidence service, online evidence gathering service, and copyright protection platform. Based on the non-traceable and non-tamperable features of the blockchain, the advantages of Baoquan.com is that user data can be permanently stored on the blockchain, independent of corporations.
In June 2018, Hangzhou Internet Court of China judged a case of a dispute over information network communication rights. For the first time, the court confirmed the legal effect of the electronic data stored on Baoquan blockchain, and clarified review methods of electronic evidence on blockchain.
We have launched the mainnet beta version in January (see blockchain browser), and we will be launching mainnet official version 1.0 in Q3 this year. Also, our codes are open-sourced on Github.
Find SimpleChain at:
Website: https://www.simplechain.com
Twitter: https://twitter.com/SimpleChain
Medium: https://medium.com/SimpleChain
Facebook: https://www.facebook.com/SimpleChainOfficial
GitHub: https://github.com/simplechain-org
Telegram Group: https://t.me/SimpleChainEN
