With the increasing number of people traveling abroad, the problem of foreign currency exchange has become increasingly prominent. Traveling countries are too small, so the currency is scarce, or the bank booking cycle is too long, and the small face extra currency has been in short supply for a long time, and various problems have emerged endlessly. Even if you return to your destination and then exchange foreign currency, visitors will face the problem of paying higher fees.
Although the economy has been globalized, the globalization of unified payment for overseas tourism consumption has not arrived yet. With the development of science and technology, the problem of foreign currency exchange that must be faced when traveling overseas has finally seen the dawn of being solved. TH is committed to solving the currency problem of overseas tourism consumption. First landing in Thailand, support TH payment in multi-consumption scenarios. As long as you hold CTH, you can make money payments, no need to exchange money, break the barriers to currency payment between different countries, and achieve seamless and unified payment.
CTH full name THCBDC, Chinese name Thailand virtual digital currency, referred to as Thai currency.
The THCBDC security index reaches the national defense level. Since digital signatures are not forgery, that is, in the absence of a private key, a hacker cannot copy someone else's signature, and at most, he can only spend the same amount of digital currency he owns by modifying the blockchain record. For example, hacker A pays merchant B a digital currency, and B sees that there is already a transfer record for A on the blockchain, so the product is handed over to A. A takes a double-cost attack on the blockchain after getting the goods, and erases the record that he paid from the blockchain. However, the feasibility of this approach in reality is minimal:
First, the generation of each block consumes a lot of computing resources. If you want to modify a certain payment record, you need to re-create the block containing the record and all the blocks behind it, and the hacker is very It is difficult to master such a huge amount of computing power.
Second, other nodes will compare the block with its own saved records. Since the block hacked by the hacker does not match the blockchain record owned by other nodes, the block modified by the hacker will not be accepted by other nodes in the network.
THCBDC's consensus algorithm, Tybooters, was created on the basis of Dpos (authorized equity) and is considered to be the first peer-recognized, mathematically provable pos consensus algorithm.
The system adopts a hierarchical block structure, including the Settlement Layer clearing layer and the Computation Layer computing layer. The former is used for the circulation of tokens TH, and the latter provides developers with intelligent contracts, authentication, message communication and other functions to reduce points. Fork risk, enhance system scalability.
THCBDC publicly meets the needs of regulations while protecting the immediate interests of consumers through an innovative software architecture system.
The THCBDC digital currency solves the following fundamental problems:
safety. The THCBDC digital currency is related to the financial lifeline of a country and has the highest requirements for security levels. The system must be able to resist distributed denial of service attacks, single points of failure, unauthorized access, and operation in force majeure.
fluidity. The THCBDC digital currency needs to be easy to use and convert to other digital currencies.
Traceability. The ins and outs of each transaction can be traced back to the identity of the parties to the transaction, the purpose of the transaction, the location of the transaction, etc., and can be audited.
Traceability. High frequency. Visa credit cards process an average of 2,000 transactions per second, with Alipay peaking over 100,000. Central bank digital currencies that meet daily payment needs must support massive transaction frequency and low network latency.
Controllability. The THCBDC digital currency must meet the needs of the central bank's monetary policy for macroeconomic regulation and control, and issue and recycle money accurately and in a timely manner.
Controllable privacy. THCBDC digital currency needs to balance user privacy and transparency to avoid the disclosure of sensitive personal information. Because the central bank is sensitive to identity information, transaction data and user identity sensitive information should not be stored in the same place.
authority management. General users, commercial banks, central banks, and regulatory authorities must strictly distinguish between read and write permissions on blockchain data.
In addition, THCBDC digital currency involves account allocation, authentication, privacy protection, and fault tolerance mechanisms, and requires a more complete infrastructure system. For example, how do users obtain private keys to protect the security of digital currencies in the event of an accidental death or identity theft? THCBDC digital currency can be completed through terminal devices such as mobile phones, computers, and ATMs, and needs to be closely integrated with big data, mobile terminals, and the Internet of Things.
The digital currency trading license applied by the CTH project team to the Thai government has been approved. In addition, the Ministry of Civil Affairs of Thailand will issue TH to all Thai people and provide resources and legal protection for TH's offline commercial application promotion.
There are three ways to get CTH:
1. Participate in the initial fundraising activities of the TH project;
2. Redeem from a digital currency exchange;
3. Participate in the TH airdrop.
The first method only accepts BTC, LTC and ETH, and is not open to the whole people; the second method is for global users, supports full-type legal currency exchange, and is distributed to users worldwide; the third window period is shorter, and it is necessary to seize the opportunity. Can not be met.
As a resident of Thailand, there is another way to obtain it: the Ministry of Civil Affairs of Thailand is targeting Thai residents, and all of them will be given CTH, and each person will receive 1-2 TH.
TH will log into the digital currency exchange at the end of September. Before you log in to the exchange, you will make an airdrop. Friends who are concerned about the digital currency can pay attention to the official news and get the candy from the TH project.