最近一条新闻很火，世界最大的社交平台脸书进行部门改革，增设了一个研究包括区块链等最新技术的部门。这是一个信号，国际上的科技巨头已经在探索区块链的应用。之外，最近炒得很火的ICO，币圈这些新新词汇不时登上新闻，挑动着大众的神经。那么到底什么是加密货币呢？带着这些好奇，打开维基，搜索cryptocurrency的条目，然后用4-5个小时，总算将英文内容翻译成中文，在这里分享给大家：

Cryptocurrency 加密货币

From Wikipedia, the free encyclopedia 来源于维基百科，免费的百科词典

A cryptocurrency (or crypto currency) is a digital asset designed to work as a medium of exchange that uses cryptography to secure its transactions, to control the creation of additional units, and to verify the transfer of assets.[1][2][3] Cryptocurrencies are a type of digital currencies, alternative currencies and virtual currencies. Cryptocurrencies use decentralized control[4] as opposed to centralized electronic money and central banking systems.[5] The decentralized control of each cryptocurrency works through a blockchain, which is a public transaction database, functioning as a distributed ledger.[6]

加密货币（又称作 crytpo currency) 是一种货币资产，其设计的初衷是作为交换媒介。这种技术使用加密学保证交易的安全性，同时控制新发币，并审核确认货币资产的转移。加密货币是数字货币的一种，也被叫作替代货币和虚拟货币。相比传统的中心化电子货币和中央银行系统，加密货币则使用去中心化的控制机制。加密货币的去中心化控制是通过区块链实现的。区块链是一个公众交易数据库，相当于一个分布式分类账本。

Bitcoin, created in 2009, was the first decentralized cryptocurrency.[7] Since then, numerous other cryptocurrencies have been created.[8] These are frequently called altcoins, as a blend of alternative coin.[9][10][11]

创建于2009年的比特币，是世界上首个去中心化加密货币。之后，众多加密货币问世。这些新出现的加密货币也被称作代币（altcoins), 是 alternative coin 的简写。

2. The system defines whether new cryptocurrency units can be created. If new cryptocurrency units can be created, the system defines the circumstances of their origin and how to determine the ownership of these new units. 系统会判定是否生成新币。如可生成新币，则系统会定义新币源的条件以及新币的所有权。

3. Ownership of cryptocurrency units can be proved exclusively cryptographically. 只能通过密码学的方式来证明加密币的所有权。

4. The system allows transactions to be performed in which ownership of the cryptographic units is changed. A transaction statement can only be issued by an entity proving the current ownership of these units. 系统允许加密币的交易，这样加密币的所有权发生改变。而交易清单只能由一个可以证明当前加密币所有权的实体来发布。

5. If two different instructions for changing the ownership of the same cryptographic units are simultaneously entered, the system performs at most one of them. 如果同一时间有两个指令要求改变同一个加密货币的所有权，则系统最多只能执行其中一个指令。

In March 2018, the word "cryptocurrency" was added to the Merriam-Webster Dictionary.[13]

2018年3月份，cryptocurrency 被加入 Merriam-Webster Dictionary 中。

Overview

概述

Decentralized cryptocurrency is produced by the entire cryptocurrency system collectively, at a rate which is defined when the system is created and which is publicly known. In centralized banking and economic systems such as the Federal Reserve System, corporate boards or governments control the supply of currency by printing units of fiat money or demanding additions to digital banking ledgers. In case of decentralized cryptocurrency, companies or governments cannot produce new units, and have not so far provided backing for other firms, banks or corporate entities which hold asset value measured in it. The underlying technical system upon which decentralized cryptocurrencies are based was created by the group or individual known as Satoshi Nakamoto.[14]

去中心化的加密币是由整个加密币系统生成的，而且加密币产生的速度在系统创造之初就已经定义了，这一点为公众所知。在中心化的银行和经济体系中，诸如美联储，企业董事会或者政府通过印刷法币或者要求增加数字银行账本中的金额的方式来实现控制货币供应。而对于去中心化的加密币，公司或政府不能发生新币，同时迄今为止仍未向那些持有加密币资产的其它企业，银行或者企业实体提供背书。去中心化的加密币所全速的底层技术系统是由一个叫做中本聪的组织抑或个人创建的。

As of September 2017, over a thousand cryptocurrency specifications existed; most were similar to and derived from the first fully implemented decentralized cryptocurrency, bitcoin. Within cryptocurrency systems, the safety, integrity and balance of ledgers is maintained by a community of mutually distrustful parties referred to as miners: who are members of the general public using their computers to help validate and timestamp transactions, adding them to the ledger in accordance with a particular timestamping scheme.[15] Miners have a financial incentive to maintain the security of a cryptocurrency ledger.[14]

截止到2017年，世界上已经出现1000多个加密币标准。其中的绝大部分与比特币类似并直接衍生自比特币。比特币是世界上第一个全面应用的去中心化加密币。在加密货币系统中，分类账的安全性，完整性和余额由一群互不信任的被称为矿工的团体来维持：他们是普通公众，使用他们的计算机来帮助验证交易并为交易加盖时间戳，并按照特定的时间戳机制将交易信息添加到分类账本中。[15] 矿工有财务激励来维护加密货币分类账本的安全。[14]

Most cryptocurrencies are designed to gradually decrease production of currency, placing an ultimate cap on the total amount of currency that will ever be in circulation, as mimicking precious metals.[1][16] Compared with ordinary currencies held by financial institutions or kept as cash on hand, cryptocurrencies can be more difficult for seizure by law enforcement.[1] This difficulty is derived from leveraging cryptographic technologies.

大多数加密货币在设计时就加入了逐步减少货币产量的生成机制。这种机制仿效贵金属，设定了可供流通的货币总量上限。[1] [16] 与金融机构持有的一般货币或是手持现金相比，加密货币更难以被执法部门扣押[1]。这源于加密币采用了密码学技术。

Architecture 架构

Blockchain 区块链

The validity of each cryptocurrency's coins is provided by a blockchain. A blockchain is a continuously growing list of records, called blocks, which are linked and secured using cryptography.[14][17] Each block typically contains a hash pointer as a link to a previous block,[17] a timestamp and transaction data.[18] By design, blockchains are inherently resistant to modification of the data. It is "an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way".[19] For use as a distributed ledger, a blockchain is typically managed by a peer-to-peer network collectively adhering to a protocol for validating new blocks. Once recorded, the data in any given block cannot be altered retroactively without the alteration of all subsequent blocks, which requires collusion of the network majority.

每个加密币的有效性由区块链提供。区块链是一个不断增长的记录列表，也被称为块。这些块使用密码学技术进行链接和保护[14] [17]。每个块通常包含一个哈希指针，作为前一个块，[17]时间戳和交易数据的链接。根据设计，区块链内在特征是不允许对数据进行修改。它是“一个开放的分布式分类账本，可以有效记录双方交易，同时这些记录可核查且永久不变。”[19] 作为分布式分类账本，区块链通常由点对点网络进行管理，并遵守用于验证新块的协议。一旦被记录，任何给定块中的数据都不能在后续块中的数据不被修改的情形下被回溯更改。而修改后续块中的内容则依赖网络中的多数人的“合谋”

Blockchains are secure by design and are an example of a distributed computing system with high Byzantine fault tolerance. Decentralized consensus has therefore been achieved with a blockchain.[20] It solves the double spending problem without the need of a trusted authority or central server.

这种设计机制下，区块链是安全的，并且是具有高Byzantine容错性的分布式计算系统的范例。因此，通过区块链实现了去中心化共识。[20] 它解决了双重支出问题，而无需借助可信任的权威机构或中央服务器。

The block time is the average time it takes for the network to generate one extra block in the blockchain.[21] Some blockchains create a new block as frequently as every five seconds.[22] By the time of block completion, the included data becomes verifiable. This is practically when the money transaction takes place, so a shorter block time means faster transactions.[citation needed]

块时间是加密币网络在区块链中生成一个额外块所需的平均时间。[21] 一些区块链甚至可以每五秒创建一个新块[22]。

块生成完成的时候，其所包含的数据具备验证性。这个过程和货币交易发生同步，

所以，块生成时间越短，交易越迅速。

Timestamping

时间戳

Cryptocurrencies use various timestamping schemes to avoid the need for a trusted third party to timestamp transactions added to the blockchain ledger.

加密币使用各种时间戳机制从而保证无需受信任的第三方在区域链分类账本中对交易加盖时间戳；

Proof-of-work schemes

工作证明机制

The first timestamping scheme invented was the proof-of-work scheme. The most widely used proof-of-work schemes are based on SHA-256 and scrypt.[23] The latter now dominates over the world of cryptocurrencies, with at least 480 confirmed implementations.[24]

第一次时间戳方案是工作量证明机制。其中应用最广泛的工作量证明方案是基于SHA-256和scrypt。[23] 而后者现在在加密货币领域占主导地位，至今至少有480个经确认的应用。[24]

Some other hashing algorithms that are used for proof-of-work include CryptoNight, Blake, SHA-3, and X11.

其他一些用于工作量证明的哈希算法包括CryptoNight，Blake，SHA-3和X11。

Proof-of-stake and combined schemes

Some cryptocurrencies use a combined proof-of-work/proof-of-stake scheme.[23] The proof-of-stake is a method of securing a cryptocurrency network and achieving distributed consensus through requesting users to show ownership of a certain amount of currency. It is different from proof-of-work systems that run difficult hashing algorithms to validate electronic transactions. The scheme is largely dependent on the coin, and there's currently no standard form of it.

一些加密货币使用综合使用了工作量证明/权益证明方案。[23] 权益证明是一种保护加密货币网络并通过要求用户显示一定数量货币的所有权来达成分布式共识的方法。它与工作量证明系统不同，工作量证明系统是验证电子交易而运行高难度的哈希算法。该机制的运用在很大程度上取决于币种，且目前没有标准形式。

Mining

挖矿

In cryptocurrency networks, mining is a validation of transactions. For this effort, successful miners obtain new cryptocurrency as a reward. The reward decreases transaction fees by creating a complementary incentive to contribute to the processing power of the network. The rate of generating hashes, which validate any transaction, has been increased by the use of specialized machines such as FPGAs and ASICs running complex hashing algorithms like SHA-256 and Scrypt.[25] This arms race for cheaper-yet-efficient machines has been on since the day the first cryptocurrency, bitcoin, was introduced in 2009.[25] With more people venturing into the world of virtual currency, generating hashes for this validation has become far more complex over the years, with miners having to invest large sums of money on employing multiple high performance ASICs. Thus the value of the currency obtained for finding a hash often does not justify the amount of money spent on setting up the machines, the cooling facilities to overcome the enormous amount of heat they produce, and the electricity required to run them.[25][26]

在加密货币网络中，挖矿就是对交易的验证。为此，成功的矿工们获得新的加密币作为奖励。该奖励通过创造互补激励来促进网络的算力，从而降低了交易费用。通过使用FPGA和ASIC等专用机器，用以验证交易的哈希生成速度得以提升。这些专用机器使用像SHA-256和Scrypt这样的复杂哈希算法。[25]自从2009年第一个加密货币比特币问世以来，生产这种廉价而高效的机器的军备竞赛一直在进行。[25]随着越来越多的人投身于虚拟货币世界，多年来，验证生成哈希函数变得愈加复杂，矿工们不得不投入大量资金来使用多个高性能ASIC。因此，因获取哈希值而得到的货币价值往往不足以抵消机器设备安装，为处理机器产生的大量热量而使用的冷却设施以及运行所需的电力等一系列支出。[25] [26]

Some miners pool resources, sharing their processing power over a network to split the reward equally, according to the amount of work they contributed to the probability of finding a block. A "share" is awarded to members of the mining pool who present a valid partial proof-of-work.

一些矿工集中资源，通过网络分享算力，然后根据他们为找到一个块的可能性所贡献的工作量相应地分配奖励。矿工群中的一名成员只要出示了一份有效的部分工作量证明，即可分得一份“份额”奖励。

One company is operating data centers for mining operations at Canadian oil and gas field sites, due to low gas prices.[27]

由于天然气价格低，一家公司正在加拿大油气田现场运行一个数据中心，用于挖矿。

Given the economic and environmental concerns associated with mining, various "minerless" cryptocurrencies are undergoing active development.[28][29][30] Unlike conventional blockchains, some directed acyclic graph cryptocurrencies utilise a pay-it-forward system, whereby each account performs minimally heavy computations on two previous transactions to verify.

鉴于与挖矿相关的经济和环境担忧，各种无需矿工介入的加密货币蓬勃发展。与传统的区块链不同，一些有向非循环图加密货币使用付费转发系统，这样每个账户对先前的两个交易进行最低限度的繁重计算，从而验证交易。

Other cryptocurrencies like Nano utilise a block-lattice structure whereby each individual account has its own blockchain. With each account controlling its own transactions, no traditional proof-of-work mining is required, allowing for feeless, instantaneous transactions.[31][better source needed]

像纳米币这样的其他加密货币使用块格结构，每个账户都有自己的区块链。由于每个账户都控制自己的交易，因此不需要传统的工作量证明挖掘，从而可以进行无交易费用的即时交易。

As of February 2018, the Chinese Government halted trading of virtual currency, banned initial coin offerings and shut down mining. Some Chinese miners have since relocated to Canada.[32] According to a February 2018 report from Fortune,[33] Iceland has become a haven for cryptocurrency miners in part because of its cheap electricity. Prices are contained because nearly all of the country’s energy comes from renewable sources, prompting more mining companies to consider opening operations in Iceland. However, the cryptocurrency mania might have gone a little too far in Iceland. The region’s energy company says bitcoin mining is becoming so popular that the country will likely use more electricity to mine coins than power homes in 2018.

截至2018年2月，中国政府终止了虚拟货币交易，禁止虚拟币ICO并关闭了数字币挖矿厂。一些中国矿工已经转移到加拿大。[32] 根据“财富”杂志2018年2月的一份报告，[33]冰岛已成为加密电子货币矿工的天堂，部分原因在于其廉价的电力。因为该国几乎所有的能源来自可再生能源，所以电价低廉，这促使更多的挖矿公司考虑在冰岛从事挖矿活动。然而，加密货币狂热在冰岛可能有点过头了。该地区的能源公司表示，比特币采矿正变得如此受欢迎，以至于2018年该国用于挖矿的电力可能要超过家庭用电。

In March 2018, a town in Upstate New York put an 18 month moratorium on all cryptocurrency mining in an effort to preserve natural resources and the "character and direction" of the city.[34]

2018年3月份，美国上城区的一个镇要求对所有的加密币挖矿活动采取18个月的临停，此举的目标是保护自然资源以及城市“品格和发展方向”。

An example paper printable bitcoin wallet consisting of one bitcoin address for receiving and the corresponding private key for spending.

一个纸质可打印的比特钱包示例，其中包含一个用于接收的比特币地址和对应用于消费的私钥。

A cryptocurrency wallet stores the public and private "keys" or "addresses" which can be used to receive or spend the cryptocurrency. With the private key, it is possible to write in the public ledger, effectively spending the associated cryptocurrency. With the public key, it is possible for others to send currency to the wallet.

一个加密货币钱包存储了可用于接收或消费加密货币的公共和私人“密钥”或“地址”。使用私钥使写入公共分类帐变得可能，从而有效地使用相关的加密货币。使用公钥，其他人可以将货币发送到钱包。

Anonymity

匿名性

Bitcoin is pseudonymous rather than anonymous in that the cryptocurrency within a wallet is not tied to people, but rather to one or more specific keys (or "addresses").[35]Thereby, bitcoin owners are not identifiable, but all transactions are publicly available in the blockchain.[35] Still, cryptocurrency exchanges are often required by law to collect the personal information of their users.[35]

Additions such as Zerocoin have been suggested, which would allow for true anonymity.[36][37][38] In recent years, anonymizing technologies like zero-knowledge proofs and ring signatures have been employed in the cryptocurrencies Zcash and Monero, respectively.

比特币使用化名的而非匿名机制，原因在于钱包中的加密货币不与特定的个人绑定，而是与一个或多个特定的密钥（或“地址”）绑定[35]。因此，比特币所有者是不可识别的，但所有交易都公开在区块链中。[35] 尽管如此，法规通常要求，加密货币的交易要收集用户的个人信息。[35]

而像新推出的Zerocoin，其技术将实现真正的匿名。[36] [37] [38] 近年来，零知识证明和环签名等匿名技术分别应用在加密货币Zcash和Monero中。

Economics

经济影响

Cryptocurrency market capitalizations as of 4 April 2018, in billions of US dollars.[39]

Cryptocurrencies are used primarily outside existing banking and governmental institutions and are exchanged over the Internet. While these alternative, decentralized modes of exchange are in the early stages of development, they have the unique potential to challenge existing systems of currency and payments. As of April 2018 total market capitalization of cryptocurrencies is bigger than 278 billion USD and record high daily volume is larger than 500 billion USD.[40]

截至到2018年4月4日，加密货币的市值数以十亿美元计。

加密货币主要用于现有银行和政府机构之外，并通过互联网进行交易。虽然这些替代性，去中心化的交易模式处于早期，但它们具有挑战现有货币和支付系统的独特潜力。截至2018年4月，加密货币总市值超过2780亿美元，日交易量最高达5000亿美元。[40]

Competition in cryptocurrency markets

加密货币市场的竞争态势

As of April 2018, there were 3500 and growing[41] cryptocurrencies in existence.

截至到2018年4月，市面上共计有3500+的加密币。

Transaction fees

交易费

Transaction fees for cryptocurrency depend mainly on the supply of network capacity at the time, versus the demand from the currency holder for a faster transaction. The currency holder can choose a specific transaction fee, while network entities process transactions in order of highest offered fee to lowest. Cryptocurrency exchanges can simplify the process for currency holders by offering priority alternatives and thereby determine which fee will likely cause the transaction to be processed in the requested time.

For ether, transaction fees differ by computational complexity, bandwidth use and storage needs, while bitcoin transactions compete equally with each other.[42] In December 2017, the median transaction fee for ether corresponded to $0.33, while for bitcoin it corresponded to $23.[43]

加密货币的交易费用主要取决于交易时网络容量的供应和货币持有人对快速交易的需求之间的关系。货币持有者可选择具体的交易费用，而网络实体则按照出价金额顺序，从高到底处理交易。加密货币交易所可以通过提供优先选择来简化货币持有者的交易流程，从而确定什么费用可能会让交易在要求的时间内得到处理。

对于以太网来说，交易费用因运算复杂度，带宽占用和存储需求而异，而比特币交易则无所谓竞争，而是交易费用固定。[42] 2017年12月，以太币的中位交易费相当于0.33美元，而比特币则相当于23美元。[43]

Legality

合法性

The legal status of cryptocurrencies varies substantially from country to country and is still undefined or changing in many of them. While some countries have explicitly allowed their use and trade,[44] others have banned or restricted it. Likewise, various government agencies, departments, and courts have classified bitcoins differently. China Central Bank banned the handling of bitcoins by financial institutions in China in early 2014.[45] In Russia, though cryptocurrencies are legal, it is illegal to actually purchase goods with any currency other than the Russian ruble.[46]

加密货币的法律地位在国与国之间差异很大，并且在许多国家仍然不明确或不断变化。有些国家明确允许加密货币的使用和交易，[44]而其他国家的态度则是禁止或限制。同样，不同的政府机构，部门和法院对比特币的分类也不同。中国央行在2014年初禁止中国金融机构从事比特币业务。[45] 在俄罗斯，虽然加密货币是合法的，但用俄罗斯卢布以外的其他货币购买物品则是非法的。

U.S. tax status

在美国税务系统的地位

On March 25, 2014, the United States Internal Revenue Service (IRS) ruled that bitcoin will be treated as property for tax purposes. This means bitcoin will be subject to capital gains tax.[47] In a paper published by researchers from Oxford and Warwick, it was shown that bitcoin has some characteristics more like the precious metals market than traditional currencies, hence in agreement with the IRS decision even if based on different reasons.[48]

2014年3月25日，美国国税局（IRS）裁定比特币为税收财产。这意味着拥有比特币的话，将要缴纳资本利得税。[47] 牛津和沃里克的研究人员发表的一篇论文表明，比特币一些特征更符合贵金属市场而非传统货币，因此即使基于不同的原因，这也和国税局的认定不谋而合。

The Cryptocurrency Alliance Super PAC. One of the many groups formed to protect consumer interests in cryptocurrencies.

加密货币联盟超级PAC，是为保护加密货币消费者利益而成立的众多团体之一。

Legal issues not dealing with governments have also arisen for cryptocurrencies. Coinye, for example, is an altcoin that used rapper Kanye West as its logo without permission. Upon hearing of the release of Coinye, originally called Coinye West, attorneys for Kanye West sent a cease and desist letter to the email operator of Coinye, David P. McEnery Jr. The letter stated that Coinye was willful trademark infringement, unfair competition, cyberpiracy, and dilution and instructed Coinye to stop using the likeness and name of Kanye West.[49] 17 January 2014 Coinye was closed.[50]

除了与政府相关的议题之外，加密货币也出现了其它一些法律问题。例如，Coinye是未经许可使用说唱歌手Kanye West作为其标志的一种代币。在听说Coinye最初名为Coinye West的发布后，Kanye West的律师向Coinye的电子邮件运营商David P. McEnery Jr发送了一封勒令停止通知函。信中指出，Coinye涉及商标故意侵权，不正当竞争，网络盗版，商标淡化并要求Coinye停止使用Kanye West肖像及名称。[49] 2014年1月17日，Coinye被关闭。[50]

A primary example of this new challenge for law enforcement comes from the Silk Road case, where Ulbricht's bitcoin stash "was held separately and ... encrypted."[51]

The legal concern of an unregulated global economy

在无监管的全球经济下，加密货币面临的法律难题

As the popularity of and demand for online currencies has increased since the inception of bitcoin in 2009,[52][53] so have concerns that such an unregulated person to person global economy that cryptocurrencies offer may become a threat to society. Concerns abound that altcoins may become tools for anonymous web criminals.[54]

由于自2009年比特币问世以来，数字货币日益被人们熟知且需求持续增加，[52] [53]因此担心加密货币提供的这种不受监管的点对点全球经济可能会对我们的社会构成威胁。人们普遍忧虑，altcoins可能成为匿名网络犯罪分子的工具。[54]

Cryptocurrency networks display a lack of regulation that has been criticized as enabling criminals who seek to evade taxes and launder money.

加密货币网络缺乏监管。因助长犯罪分子逃避税收和洗钱，加密货币饱受批评。

Transactions that occur through the use and exchange of these altcoins are independent from formal banking systems, and therefore can make tax evasion simpler for individuals.

通过使用和交换这些altcoins发生的交易独立于正式的银行系统，因此可以使个人更容易逃税。

Since charting taxable income is based upon what a recipient reports to the revenue service, it becomes extremely difficult to account for transactions made using existing cryptocurrencies, a mode of exchange that is complex and difficult to track.[54]

由于确定应纳税收入是基于收款人向税务部门的报告，因此对于使用现有加密货币进行的交易进行统计变得非常困难，因为这是一种复杂且难以追踪的交易模式。

Systems of anonymity that most cryptocurrencies offer can also serve as a simpler means to launder money. Rather than laundering money through an intricate net of financial actors and offshore bank accounts, laundering money through altcoins can be achieved through anonymous transactions.[54]

大多数加密货币提供的匿名系统也可以作为更简便的洗钱手段。 [54]与其通过复杂的金融掮客和离岸银行账户进行洗钱，倒不如通过匿名交易的altcoins洗钱来得更简便。

Loss, theft, and fraud

灭失，偷盗和欺诈

GBL, a Chinese bitcoin trading platform, suddenly shut down on October 26, 2013. Subscribers, unable to log in, lost up to $5 million worth of bitcoin.[55][56]

GBL是一家中国的比特币交易平台，在2013年10月26日突然关闭。用户无法登录，损失高达500万美元的比特币。[55] [56]

In February 2014 the world's largest bitcoin exchange, Mt. Gox, declaring bankruptcy. The company stated that it had lost nearly $473 million of their customers' bitcoins likely due to theft. This was equivalent to approximately 750,000 bitcoins, or about 7% of all the bitcoins in existence. The price of a bitcoin fell from a high of about $1,160 in December to under $400 in February.[57]

2014年2月，全球最大的比特币交易所Mt.戈克斯宣布破产。该公司表示，由于盗窃，它已经损失了近4.73亿美元的客户比特币。这相当于约750,000个比特币，约占现有比特币的7％。比特币的价格从12月份的约1,160美元高点下跌至2月份的400美元以下。[57]

Two members of the Silk Road Task Force—a multi-agency federal task force that carried out the U.S. investigation of Silk Road—seized bitcoins for their own use in the course of the investigation.[58] DEA agent Carl Mark Force IV, who attempted to extort Silk Road founder Ross Ulbricht ("Dread Pirate Roberts"), pleaded guilty to money laundering, obstruction of justice, and extortion under color of official right, and was sentenced to 6.5 years in federal prison.[58] U.S. Secret Service agent Shaun Bridges pleaded guilty to crimes relating to his diversion of $800,000 worth of bitcoins to his personal account during the investigation, and also separately pleaded guilty to money laundering in connection with another cryptocurrency theft; he was sentenced to nearly eight years in federal prison.[59]

丝绸之路特别小组是一个跨机构联邦特别小组，负责调查美国丝绸之路。他的两名成员在调查过程中获取了比特币并据为已有。试图敲诈丝绸之路创始人罗斯·乌布里赫特（“恐怖海盗罗伯茨”）的DEA特工卡尔·马克特力IV承认了洗钱，妨碍司法和运用公权进行勒索，并被联邦政府判处有期徒刑6.5年。[58]美国特勤局特工肖恩.布里奇斯在调查期间对”将80万美元比特币转入他的个人账户”有关的罪行供认不讳，同时还供认参与另一起加密货币盗窃有关的洗钱行为，并被判处联邦监狱中服刑8年。[59]

Homero Josh Garza, who founded the cryptocurrency startups GAW Miners and ZenMiner in 2014, acknowledged in a plea agreement that the companies were part of a pyramid scheme, and pleaded guilty to wire fraud in 2015. The U.S. Securities and Exchange Commission separately brought a civil enforcement action against Garza, who was eventually ordered to pay a judgment of $9.1 million plus $700,000 in interest. The SEC's complaint stated that Garza, through his companies, had fraudulently sold "investment contracts representing shares in the profits they claimed would be generated" from mining.[60]

2014年，Homero Josh Garza创立加密货币初创公司GAW Miners和ZenMiner。Homero Josh Garza在认罪协议中承认，这些公司是金字塔骗局的一部分，并于2015年承认犯有电汇欺诈行为。美国证券交易委员会专门针对Garza提起民事诉讼，后者最终被判决支付910万美元外加70万美元的利息。美国证券交易委员会的诉状指称，加尔萨通过他的公司欺诈性地出售了投资合约，这些合约中包含他们所声称的“采矿中将产生的利润份额“。[60]

On November 21, 2017, the Tether cryptocurrency announced they were hacked, losing $31 million in USTD from their primary wallet.[61] The company has 'tagged' the stolen currency, hoping to 'lock' them in the hacker's wallet (making them unspendable). Tether indicates that it is building a new core for its primary wallet in response to the attack in order to prevent the stolen coins from being used.

2017年11月21日，Tether加密货币宣布他们被黑客入侵，造成他们的主钱包损失USTD3,100万美元[61]。该公司已经给被盗的货币“贴上标签”了，希望将它们“锁死”在黑客的钱包中（使这批钱无法支出）。 Tether表示它正在为其主钱包打造一个“新核”以应对攻击，从而使被盗用的数字币无法使用。

On December 6, 2017, more than $60 million worth of bitcoin was stolen after a cyber attack hit the cryptocurrency-mining platform NiceHash (Slovenia-based company). According to the CEO Marko Kobal and co-founder Sasa Coh, bitcoins worth $64 million USD were stolen, although users have pointed to a bitcoin wallet which held 4,736.42 bitcoins, equivalent to $67 million.[62][63]

2017年12月6日，采矿平台NiceHash（斯洛文尼亚的公司）遭受黑客攻击后，价值6000万美元的比特币被盗。根据首席执行官Marko Kobal和联合创始人Sasa Coh的说法，价值6400万美元的比特币被盗。而用户指出比特币钱包拥有4,736.42个比特币，相当于6,700万美元。[62] [63]

Darknet markets

暗网市场

Cryptocurrency is also used in controversial settings in the form of online black markets, such as Silk Road. The original Silk Road was shut down in October 2013 and there have been two more versions in use since then; the current version being Silk Road 3.0. The successful format of Silk Road has been widely used in online dark markets, which has led to a subsequent decentralization of the online dark market. In the year following the initial shutdown of Silk Road, the number of prominent dark markets increased from four to twelve, while the amount of drug listings increased from 18,000 to 32,000.[54]

Cryptocurrency同时还用于一些有争议的地方，如丝绸之路等线上黑市。原丝绸之路在2013年10月被关闭，此后又有两个版本在使用; 目前的版本是Silk Road 3.0。丝绸之路的成功模式已经在网上黑市中得到了广泛的应用，这导致了随后线上黑市的分散化。在丝绸之路最初关闭的那一年，较大规模的黑市数量从四个增加到十二个，而关于毒品的条目数量则从18,000个增加到32,000个[54]。

Darknet markets present growing challenges in regard to legality. Bitcoins and other forms of cryptocurrency used in dark markets are not clearly or legally classified in almost all parts of the world. In the U.S., bitcoins are labelled as "virtual assets". This type of ambiguous classification puts mounting pressure on law enforcement agencies around the world to adapt to the shifting drug trade of dark markets.[64]

暗网市场面临着越来越大的司法争议。在黑暗市场中使用的比特币和其他形式的加密货币在世界几乎所有地区都没有明确归类或是列为合法范畴。在美国，比特币被归为“虚拟资产”。这种模棱两可的归类给世界各地的执法机构施加了越来越大的压力，他们要适应逐渐日渐转向黑市的毒品交易。

Since most darknet markets run through Tor, they can be found with relative ease on public domains. This means that their addresses can be found, as well as customer reviews and open forums pertaining to the drugs being sold on the market, all without incriminating any form of user.[54] This kind of anonymity enables users on both sides of dark markets to avoid law enforcement. The result is that law enforcement adheres to a campaign of singling out individual markets and drug dealers to cut down supply.[64]

由于大多数黑网市场都是通过Tor运行的，因此可以通过公共域名中相对轻松地找到它们。这意味着可以找到他们的地址，以及与市场上出售的药物有关的客户评论和开放论坛，所有这些都不会对任何形式的用户进行定罪。这种匿名形式使黑市中买卖双方能够避免被执法部门盯上。结果是执法机构坚持一个简单的策略，即逐个清楚市场和毒贩，以此来减少毒品供应。[64]

Initial coin offerings

ICO (首次代币发售）

An initial coin offering (ICO) is a controversial means of raising funds for a new cryptocurrency venture. An ICO may be used by startups with the intention of avoiding regulation. However, securities regulators in many jurisdictions, including in the U.S., and Canada have indicated that if a coin or token is an "investment contract" (e.g., under the Howey test, i.e., an investment of money with a reasonable expectation of profit based significantly on the entrepreneurial or managerial efforts of others), it is a security and is subject to securities regulation. In an ICO campaign, a percentage of the cryptocurrency (usually in the form of "tokens") is sold to early backers of the project in exchange for legal tender or other cryptocurrencies, often bitcoin or ether.[65][66][67]

首次代币发行（ICO）是为新的加密货币公司筹集资金的方式，但是备受争议。初创企业可能会使用ICO来规避监管。然而，包括美国和加拿大在内的许多司法管辖区的证券监管机构都表示，如果硬币或代币是“投资合约”（例如，根据Howey测试，投资是指，依赖他人的创业精神或管理能力基础上，而对利润有合理预期）。这就是一种证券并受证券监管。在ICO活动中，一部分加密货币（通常以“代币”的形式）出售给该项目的早期支持者以换取法币或其他加密货币，通常是比特币或以太币。[65] [66] [67]

Cryptocurrency in gaming

游戏业中的加密币

Games, lotteries, online casinos and other online gambling sites that feature Cryptocurrency as either a method of payment or as the winnings paid have steadily increased as its popularity has grown and become widely accepted.

越来越多的游戏业，彩票业和在线赌场以及其它在线赌博业使用加密币作为支付手段或是奖金，因为加密币变得日益流行并开始被更广泛地接受。

Lotteries

彩票业

In December 2017 Gibraltar based gaming operator Lottoland launched the worlds first regulated bitcoin lottery offering a 1000 bitcoin jackpot.[68] Players still pay in traditional currencies but can receive their winnings in bitcoin if they choose.

2017年12月，位于直布罗陀的游戏运营业Lottoland 宣布世界上首个监管的彩票大奖，奖金为1000个比特币。参与者仍然要使用传统的货币支付，不过他们可以选择比特币的方式领取奖金；

Online casinos & dice sites

线上赌博业

Many online casinos and dice sites have launched to take advantage of the popularity of cryptocurrency[69] however their legitimacy is often questioned because of concerns that they are not fair because of the computer algorithms used to run them. The service Provably fair was created to try and combat the fears of its users that they are not being cheated.[70]

Academic studies

一些线上赌场借助加密货币的普及应运而生[69]，然而它们的合法性经常被质疑。因为人们担心运行它们的计算机算法不够公平。Provably Fair 是一个新推出的服务，目标是消除用户对于被骗的恐惧，。[70]学术研究

Journals

期刊

In September 2015, the establishment of the peer-reviewed academic journal Ledger (ISSN 2379-5980) was announced. It covers studies of cryptocurrencies and related technologies, and is published by the University of Pittsburgh.[71][72] The journal encourages authors to digitally sign a file hash of submitted papers, which will then be timestamped into the bitcoin blockchain. Authors are also asked to include a personal bitcoin address in the first page of their papers.[73][74]

2015年9月，同行评审学术期刊Ledger（ISSN 2379-5980）宣布成立。它涵盖了加密货币和相关技术的研究，并由匹兹堡大学出版。[71] [72] 该杂志鼓励作者数字签署提交文件的文件哈希，然后将时间戳加入比特币区块链。还要求作者在论文的第一页中包含个人比特币地址。[73] [74]

Reception

接受度

Cryptocurrencies have been compared to Ponzi schemes, pyramid schemes[75] and economic bubbles,[76] such as housing market bubbles.[77] Howard Marks of Oaktree Capital Management stated in 2017 that digital currencies were "nothing but an unfounded fad (or perhaps even a pyramid scheme), based on a willingness to ascribe value to something that has little or none beyond what people will pay for it", and compared them to the tulip mania (1637), South Sea Bubble (1720), and dot-com bubble(1999).[78] In October 2017, BlackRock CEO Larry Fink called bitcoin an 'index of money laundering'.[79] "Bitcoin just shows you how much demand for money laundering there is in the world," he said.

加密货币已经被拿来和庞氏骗局，传销计划[75]和经济泡沫[76]比如房地产市场泡沫相提并论[77]。 Oaktree资本管理公司的Howard Marks在2017年指出，数字货币“仅仅是一种毫无根据的时尚（或者甚至可能是传销活动）。它建立在“人们将价值赋予那些只具备很低价值或毫无价值的东西上的”意愿上，并将它们与郁金香狂热（1637），南海泡沫（1720）和网络泡沫（1999）进行比较[78]。 2017年10月，贝莱德首席执行官拉里芬克将比特币称为“洗钱指数”。[79] “比特币只是告诉你世界上洗钱需求有多旺盛” 他说。

While cryptocurrencies are digital currencies that are managed through advanced encryption techniques, many governments have taken a cautious approach toward them, fearing their lack of central control and the effects they could have on financial security.[80] Regulators in several countries have warned against cryptocurrency and some have taken concrete regulatory measures to dissuade users.[81] Additionally, many banks do not offer services for cryptocurrencies and can refuse to offer services to virtual-currency companies.[82] While traditional financial products have strong consumer protections in place, there is no intermediary with the power to limit consumer losses if bitcoins are lost or stolen.[83] One of the features cryptocurrency lacks in comparison to credit cards, for example, is consumer protection against fraud, such as chargebacks.

尽管加密货币是通过先进的加密技术进行管理的数字货币，但许多政府对这些货币采取谨慎的态度，担心它们缺乏中央控制以及它们可能对金融安全产生的影响。数个国家的监管机构已经警告过加密货币，有些已采取具体的监管措施来劝阻用户。此外，许多银行不提供加密货币服务，并可拒绝向虚拟货币公司提供服务。虽然传统金融产品消费者保护措施到位，但如果比特币丢失或被盗，没有中间人有权减少消费者损失。[83]例如，加密货币与信用卡相比缺乏的一个特点是消费者欺诈保护，例如（向消费者提供）退款。

An enormous amount of energy goes into proof-of-work cryptocurrency mining, although cryptocurrency proponents claim it is important to compare it to the consumption of the traditional financial system.[84]

尽管加密货币支持者声称，有必要将挖矿与传统金融系统的资源消耗进行比较，但确实有大量的能源投入到“工作量证明”的加密货币挖掘中。

There are also purely technical elements to consider. For example, technological advancement in cryptocurrencies such as bitcoin result in high up-front costs to miners in the form of specialized hardware and software.[85] Cryptocurrency transactions are normally irreversible after a number of blocks confirm the transaction. Additionally, cryptocurrency can be permanently lost from local storage due to malware or data loss. This can also happen through the destruction of the physical media, effectively removing lost cryptocurrencies forever from their markets.[86]

之外还有纯粹的技术因素需要考虑。例如，比特币等加密货币的技术进步导致矿工采用专门的硬件和软件，而这构成了高额的前期成本[85]。之外，在多个块确认交易后，加密货币交易通常不可撤销。此外，由于恶意软件或数据丢失，加密货币可能会从本地存储永久丢失。另外，通过破坏物理媒介也可以有效地从市场上永久移除丢失的加密货币。[86]

The cryptocurrency community refers to pre-mining, hidden launches, ICO or extreme rewards for the altcoin founders as a deceptive practice.[87] It can also be used as an inherent part of a cryptocurrency's design.[88] Pre-mining means currency is generated by the currency's founders prior to being released to the public.[89]

加密货币圈人士将预采矿，不透明发行，ICO或对于altcoin创始人的极度回报均视为欺骗性做法。[87]而这些特征都是是加密货币与生俱来的特点。[88]预采矿是指货币的创始人在向公众发布之前，就将货币流向社会。[89]

Paul Krugman, Nobel Memorial Prize in Economic Sciences winner does not like bitcoin, has repeated numerous times that it is a bubble that will not last[90] and links it to Tulip mania.[91]

诺贝尔经济学奖获得者保罗克鲁格曼不喜欢比特币，他多次重复说这是一个不会持续[90]的泡沫，并将其与郁金香狂热联系起来[91]。

American business magnate Warren Buffett thinks that cryptocurrency will come to a bad ending.[92]

美国商业巨头沃伦巴菲特认为加密货币将会陷入一个糟糕的结局。[92]

Causing a rise in GPU prices

加密货币造成图形处理卡涨价

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The sudden increase in cryptocurrency mining increased the demand of graphics cards (GPU) in 2017.[93] Popular favorites of cryptocurrency miners such as Nvidia’s GTX 1060 and GTX 1070 graphics cards, as well as AMD’s RX 570 and RX 580 GPUs, doubled if not tripled in price – or were out of stock completely.[94] A GTX 1070 Ti which was released at a price of $450 sold for as much as $1100. Another popular card GTX 1060's 6 GB model was released at an MSRP of $250, sold for almost $500. RX 570 and RX 580 cards from AMD were out of stock for almost a year. Miners regularly buy up the entire stock of new GPU's as soon as they are available, further driving prices up.[95] This has caused, in general, a disliking towards cryptocurrency miners by PC gamers and tech enthusiasts.

2017年加密货币挖掘突然增加，导致对图形卡（GPU）的需求亦上涨。[93]加密货币矿工最青睐的图形卡如Nvidia的GTX 1060和GTX 1070显卡以及AMD的RX 570和RX 580 GPU的价格涨了1倍到，甚至到2倍，或者是完全断货。 GTX 1070 Ti发布时售价为450美元，而随后卖价高达1100美元国；另一款流行卡GTX 1060下6 GB型号款以250美元的零售价发售，而随后卖价近500美元。来自AMD的RX 570和RX 580卡则已经缺货近一年。一有新GPU库存，矿工们通常会一次性买断，从而进一步推高价格。[95]这招致了PC玩家和科技爱好者对加密货币矿工的厌恶。

Nvidia is reportedly asking retailers to do what they can when it comes to selling GPUs to gamers instead of miners. "Gamers come first for Nvidia," said Boris Böhles, PR manager for Nvidia in the German region, in an interview with the German publication ComputerBase. "All activities around our GeForce products are for our core audience. We recommend our trading partners make arrangements to ensure that gamers’ needs are still met in the current climate."[96]

据报道，Nvidia要求零售商应首先满足PC游戏玩家而不是加密货币矿工的需求。 Nvidia在德国地区的公关经理BorisBöhles在接受德国出版物ComputerBase的采访时说：“对Nvidia来说，玩家始终是被放在第一位的。“ 围绕我们的GeForce产品开展的所有活动都是面向我们的核心受众，我们建议我们的贸易伙伴采取措施，确保游戏玩家的需求在目前的环境下仍然得以满足。”[96]

History

历史

In 1983 the American cryptographer David Chaum conceived an anonymous cryptographic electronic money called ecash.[97][98] Later, in 1995, he implemented it through Digicash,[99] an early form of cryptographic electronic payments which required user software in order to withdraw notes from a bank and designate specific encrypted keys before it can be sent to a recipient. This allowed the digital currency to be untraceable by the issuing bank, the government, or a third party.

1983年，美国密码学家David Chaum构思了一种名为ecash的匿名加密电子货币。[97] [98]后来在1995年，他通过Digicash将构想付诸现实[99]，这是一种早期的加密电子支付形式，需要用户软件才能从银行提取货币并指定特定的加密密钥，然后才能将其发送给接收人。这使得发行银行，政府或第三方无法追踪数字货币。

In 1996 the NSA published a paper entitled How to Make a Mint: the Cryptography of Anonymous Electronic Cash, describing a Cryptocurrency system first publishing it in a MIT mailing list[100] and later in 1997, in The American Law Review (Vol. 46, Issue 4).[101]

1996年，美国国家安全局发表了一篇题为“如何制作造币厂：匿名电子现金加密技术”的论文，描述了一种Cryptocurrency系统，首先将其发布在麻省理工学院邮件列表[100]中，随后在1997年发表在美国法律评论（第46卷，第4期）。[101]

In 1998, Wei Dai published a description of "b-money", an anonymous, distributed electronic cash system.[102] Shortly thereafter, Nick Szabo created "bit gold".[103] Like bitcoin and other cryptocurrencies that would follow it, bit gold (not to be confused with the later gold-based exchange, BitGold) was an electronic currency system which required users to complete a proof of work function with solutions being cryptographically put together and published. A currency system based on a reusable proof of work was later created by Hal Finney who followed the work of Dai and Szabo.

1998年，戴伟发表了一个匿名的分布式电子现金系统“b-money”的描述。[102]此后不久，Nick Szabo创造了“bit gold”。[103]像比特币和其他加密货币一样，bit gold（不要与后来的基于黄金的交易所BitGold混淆）是一种电子货币系统，它要求用户完成工作量证明，将解决方案加密并发布。在Dai和Szabo的基础之上，Hal Finney后来创建了一个基于可重复使用工作量证明的货币系统。

The first decentralized cryptocurrency, bitcoin, was created in 2009 by pseudonymous developer Satoshi Nakamoto. It used SHA-256, a cryptographic hash function, as its proof-of-work scheme.[15][104] In April 2011, Namecoin was created as an attempt at forming a decentralized DNS, which would make internet censorship very difficult.

第一个去中心化的加密货币比特币是2009年，由匿名的开发者Satoshi Nakamoto创立。它使用加密哈希函数SHA-256作为工作量证明方案。[15] [104] 2011年4月，Namecoin出现了，其旨在创建一个去中心化的DNS，这将使互联网审查更有难度。

Soon after, in October 2011, Litecoin was released. It was the first successful cryptocurrency to use scrypt as its hash function instead of SHA-256. Another notable cryptocurrency, Peercoin was the first to use a proof-of-work/proof-of-stake hybrid.[23] IOTA was the first cryptocurrency not based on a blockchain, and instead uses the Tangle.[105][106] Built on a custom blockchain,[107] The Divi Project allows for easy exchange between currencies from within the wallet[108] and the ability to use personal identifying information for transactions.

不久之后，2011年10月，莱特币发布。这是第一个成功使用scrypt作为哈希函数而不是SHA-256的加密货币。另一个著名的加密货币，Peercoin是第一个综合使用工作量证明/权益证明的加密货币。[23] IOTA是第一个不基于区块链的加密货币，而是使用Tangle。[105] [106]，[107] Divi项目建立在自定义区块链上，它允许钱包内的货币之间轻松交换[108]，并能够使用个人识别信息进行交易[109]。

[109] Many other cryptocurrencies have been created though few have been successful, as they have brought little in the way of technical innovation.[110] On 6 August 2014, the UK announced its Treasury had been commissioned to do a study of cryptocurrencies, and what role, if any, they can play in the UK economy. The study was also to report on whether regulation should be considered.[111]

随后出现了许多其它的加密货币，因为它们没有带来技术创新，所以鲜有成功。[110] 2014年8月6日，英国宣布其财政部受委托对加密货币进行研究，以及他们在英国经济中（如果有的话）可以发挥什么作用。这项研究同时也包含一份“是否考虑对加密货币进行监管”的报告。[111]

Publicity

宣传

Bitcoin ATM

比特币自动取款机

Gareth Murphy, a senior central banking officer has stated "widespread use [of cryptocurrency] would also make it more difficult for statistical agencies to gather data on economic activity, which are used by governments to steer the economy". He cautioned that virtual currencies pose a new challenge to central banks' control over the important functions of monetary and exchange rate policy.[112]

中央银行高级官员Gareth Murphy表示“广泛使用[加密货币]还会使统计机构更难收集经济活动数据，而这些数据是由政府用来指导经济的。”他警告说，虚拟货币对央行控制货币和汇率政策的重要职能提出了新的挑战。

Jordan Kelley, founder of Robocoin, launched the first bitcoin ATM in the United States on February 20, 2014. The kiosk installed in Austin, Texas is similar to bank ATMs but has scanners to read government-issued identification such as a driver's license or a passport to confirm users' identities.[113] By September 2017, 1,574 bitcoin ATMs had been installed around the world with an average fee of 9.05%. An average of 3 bitcoin ATMs were being installed per day in September 2017.[114]

Robocoin的创始人Jordan Kelley于2014年2月20日在美国推出了第一台比特币ATM。安装在德克萨斯州奥斯汀的自助服务机与银行自动取款机类似，但配备有扫描仪以读取政府颁发的身份证明，如驾照或驾照护照以确认用户身份。[113]到2017年9月，世界各地安装了1574台比特币自动取款机，平均费用为9.05％。 2017年9月，平均每天安装3台比特币自动取款机。[114]

The Dogecoin Foundation, a charitable organization centered around Dogecoin and co-founded by Dogecoin co-creator Jackson Palmer, donated more than $30,000 worth of Dogecoin to help fund the Jamaican bobsled team's trip to the 2014 Olympic games in Sochi, Russia.[115] The growing community around Dogecoin is looking to cement its charitable credentials by raising funds to sponsor service dogs for children with special needs.[116]

Dogecoin基金会是一家以Dogecoin为中心的慈善组织，由Dogecoin联合创始人Jackson Palmer共同创立，捐赠价值超过30,000美元的Dogecoin，以资助牙买加雪橇队在俄罗斯索契2014年奥运会之旅。围绕狗狗币日益增长的社区正在寻求通过筹集资金为有特殊需求的儿童资助服务犬来发扬该组织的慈善精神。

翻译维基百科：加密货币（Cryptocurrency)

目录：

1Formal definition正式定义

2Overview总览

3Architecture架构

3.1Blockchain区块链

3.2Timestamping时间戳

3.2.1Proof-of-work schemes工作量认证机制

3.2.2Proof-of-stake and combined scheme权益认证及复合认证机制

3.3Mining挖矿

3.4Wallets钱包

3.5Anonymity匿名性

4Economics

5Legality合法性

5.1U.S. tax status在美国税务体系中的现状

5.2The legal concern of an unregulated global economy在没有监管的全球经济中面临的合规问题

5.3Loss, theft, and fraud灭失，偷盗和欺诈

5.4Darknet markets暗网市场

5.5Initial coin offerings ICO,即代币首次公开发行

6. Cryptocurrency in gaming 加密币在游戏产业中的应用

6.1Lotteries 彩票

6.2Online casinos & dice sites线上赌博网站

7. Academic studies学术研究

8. Reception大众认识度

8.1. Causing a rise in GPU prices导致显卡价格上涨

9History 历史

9.1Publicity 宣传