Report: No Bank Account Needed to Transfer China’s Upcoming CBDC

Report: No Bank Account Needed to Transfer China’s Upcoming CBDC

Aug.30.2019

by Max Boddy

The People’s Bank of China’s much-anticipated digital currency may allow fund transfers without needing a bank account, according to Binance Research.

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Binance Launches Dev Education and Collaboration Platform Binance X

Binance Launches Dev Education and Collaboration Platform Binance X

by Helen Partz

Crypto exchange Binance has launched its new developer-focused platform Binance X to foster new blockchain and crypto projects.

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How Bitcoin Mining Works

When you hear about bitcoin “mining,” you envisage coins being dug out of the ground. But bitcoin isn’t physical, so why do we call it mining?

Because it’s similar to gold mining in that the bitcoins exist in the protocol’s design (just as the gold exists underground), but they haven’t been brought out into the light yet (just as the gold hasn’t yet been dug up). The bitcoin protocol stipulates that 21 million bitcoins will exist at some point. What “miners” do is bring them out into the light, a few at a time.

They get to do this as a reward for creating blocks of validated transactions and including them in the blockchain.

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