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What is PC

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1. What is PC?

Introduction to Cryptocurrency

What is cryptocurrency?

Cryptocurrency is a type of digital currency designed based on cryptographic principles, featuring decentralisation, anonymity, and security. It is not controlled by any central authority like a government or bank, and transactions are verified and recorded using distributed ledger technology (such as blockchain).

Characteristics of Cryptocurrency

  1. Decentralisation: Cryptocurrency does not rely on any central authority or intermediary, with transaction records maintained by the entire network of nodes.
  2. Security: Cryptocurrencies utilize cryptographic algorithms such as elliptic curve encryption, digital signatures, and hash functions, ensuring the verifiability and immutability of transactions.
  3. Anonymity: Some cryptocurrencies, like Monero, use ring signatures and stealth addresses to hide transaction information, ensuring transaction anonymity.
  4. Limited Supply: Most cryptocurrencies have a finite total supply, usually based on a predetermined algorithm, giving them an anti-inflationary characteristic.

Types of Cryptocurrency

  1. Bitcoin: The original and most famous cryptocurrency, created by Satoshi Nakamoto, launched in January 2009.
  2. Ethereum: Not just a cryptocurrency, it is a decentralised application platform based on blockchain technology, supporting smart contracts.
  3. Monero: A privacy-focused cryptocurrency that uses ring signatures and stealth addresses to conceal transaction information.
  4. Dash: A cryptocurrency built on Bitcoin's technology but offers features like instant payments and privacy protection.
  5. Cardano: A distributed computing platform based on blockchain, aimed at providing infrastructure for new decentralised applications and systems.

How Cryptocurrency Works

  1. Distributed Public Ledger: Cryptocurrencies use blockchain technology to verify and record transactions. Miners use computers to validate transactions and add them to the blockchain.
  2. Cryptographic Verification: The validity of cryptocurrency value is provided by the blockchain, using various timestamping schemes like Proof of Work and Proof of Stake to verify transactions.
  3. Decentralised Incentives: In a Proof of Stake system, transactions are verified by holders of the related cryptocurrency, sometimes forming a staking pool.

Advantages of Cryptocurrency

  1. Decentralisation and Distributed Ledger: Cryptocurrency employs decentralised distributed ledger technology, not relying on any central authority or intermediary.
  2. Cryptographic Security: Cryptocurrencies leverage cryptographic algorithms to ensure the verifiability and immutability of transactions.
  3. Convenience of Cross-Border Payments: Cryptocurrency transactions occur over the internet, unrestricted by geographic location or borders, greatly facilitating cross-border payments.

2. Who founded PC?

According to the provided information, the first successful cryptocurrency is Bitcoin, created by a developer using the pseudonym Satoshi Nakamoto in 2009. As for the term "PC," no related cryptocurrency name was found in the provided information. It might refer to "Peercoin," the first cryptocurrency to use a mix of proof of work and proof of stake functions, but it was created by Sunny King in 2012, not by Satoshi Nakamoto.

3. Which venture capitals invested in PC?

Based on the provided information, the following venture capital firms have invested in cryptocurrency projects:

  1. Xiaomi Capital: Invested in multiple cryptocurrency projects, including:

  2. OKCoin: Early angel investment.

  3. Master Wallet: Completed a 10 million RMB angel round financing on June 27, 2018.

  4. Hash World: Completed multi-million dollar Series A financing in July 2018.

  5. Mining Fish: Received 12 million RMB in financing in July 2018.

  6. Coin World: Completed several tens of millions of RMB Series A financing in March 2019.

  7. Conflux: Secured 35 million USD investment on December 4, 2018.

  8. DWF Labs:

  9. Bitcoin Cats: Established a strategic partnership with DWF Labs to build a gaming and entertainment ecosystem across Bitcoin and EVM networks.

  10. LeverPro: Formed a partnership with DWF Labs at the end of December 2023 for investment and market-making support.

  11. TurtSat: Collaborated with DWF Labs in December 2023 to promote and assist high-quality projects and teams in Ordinals.

  12. Waterdrip Capital:

  13. Bitcoin Layer 2 Network Projects: Invested in 7 or 8 Bitcoin Layer 2 network projects.

  14. MAP Protocol: Co-founded a 10 million USD ecosystem fund with Waterdrip Capital, focusing on Omnichain interoperability ecosystem development.

  15. LK Ventures:

  16. BTC NEXT: Launched a 15 million USD Bitcoin network ecosystem investment management fund for participating in emerging crypto assets in the Bitcoin network ecosystem.

  17. Polychain Capital:

  18. Bitfinity: Completed a 7 million USD token financing at a valuation of 130 million USD, with participation from Polychain Capital and others.

This information indicates that multiple venture capital firms are actively involved in investing in cryptocurrency projects.

4. How does PC operate?

Cryptocurrency on PC interacts with the blockchain through cryptocurrency wallet software. Here are the main steps and principles:

  1. Types of Cryptocurrency Wallets:

  2. Hot Wallet: Software wallets connected to the internet, convenient to use but with lower security.

  3. Cold Wallet: Offline or hardware wallets, which are more secure but more complex to use.

  4. Operation of Cryptocurrency Wallets:

  5. Receiving Funds: Retrieve the address from the cryptocurrency wallet, copy and share it with the sender.

  6. Sending Funds: Enter the recipient's wallet address, choose the amount of cryptocurrency to send, and then confirm.

  7. Interaction with the Blockchain:

  8. Cryptocurrency wallets interact with the blockchain through public and private keys. The public key is used to verify the authenticity of the public address, while the private key is used to unlock and control the cryptocurrency.

  9. Security Measures:

  10. Two-Factor Authentication: Enable two-factor authentication to enhance security.

  11. Diversified Investment: Spread investments across multiple wallets to reduce risk.

  12. Avoid Information Leakage: Do not discuss transaction activities or wallet information on social media.

Through these steps and principles, cryptocurrency on PC can be safely stored, sent, and received.

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