Future currency-Concept introduction-monetary system monetary systems

Monetary system for currency systems

NXT's currency system allows users to create and trade user-defined tokens (tokens)-that is, currency currencies

The user-defined currency must have the following properties

Convertible (exchangeable)--
Money can be exchanged with NXT. A currency holder can issue a redemption offer (Exchange offers), specify the buying and selling rates of the currency,
Each account can only issue a redemption offer at any time. The redemption offer has an expired block after expiration. Buyers and sellers can issue redemption requests to match the issued exchange offer. Unlike asset buy/sell (asset bid/ask order), redemption requests cannot be saved and they are either executed immediately (in whole or in part) or can never be executed. The exchange offer and the Buy/sell Exchange request match creates a transaction entity that represents the transfer of the currency unit corresponding to the NXT balance and updates the balance of the related account. Issuing an offer immediately reduces the balance of the NXT and the account that issued the offer, until it expires. The offer also specifies the upper limit of the number of units that may be larger than the number of units provided. When a buy-and-redeem request matches an offer, the number of units offered to sell decreases as long as the limit is not reached, and the number of units offered to buy increases. Once the exchange limit is reached, the offer is not available.
Controllable (controllable)--
Currency characteristics that are appropriate to the currency through an external entity. It indicates the following restrictions on currency: (1) Only the issuing account can be transferred or transferred out of the currency. (2) Only the issuing account can issue a redemption offer. The issuer account can publish a large (and virtually unlimited) unit of money in advance, and then transfer units or swap units to the account to reflect the actual transactions occurring in the external system. A large number of units in the publisher's account can be used to simulate the impact of creating a sudden-emerging currency unit, thereby supporting features such as creating new units and paying interest.
Can preset (reservable)--
Currency units are not issued immediately. Instead, the monetary unit sets the height of the block to be issued currency and the NXT required to issue each unit of currency. After that, the money "founder" spends NXT to reserve currency shares. If the number of NXT required to issue each unit of currency is not predetermined before reaching the block height, then the issue is cancelled, the money returned and the cost is deducted. If a preset condition is reached, the distribution is carried out and a monetary unit is distributed between the founder and the investor according to the proportion of the shares invested NXT. The fraction will be sent to the issuer's account. At the end of this paper, we can discuss the user scheme of the predetermined currency.
Can be recovered (claimable)--

When a preset currency is available, the currency unit of the reserve currency is retrieved and the price of each unit reaches the same NXT. The ability to claim a currency at a specific price indicates a real limit on the price that some users want to redeem. However, if it is only for the purpose of exchanging the full supply of money, the reserved currency can be exchanged for the sake of deleting the currency.
Ore-Digging (mintable)--

Almost the same as Bitcoin, you can use a work certificate (PoW) to dig a mine. Unlike bitcoin, money-mining does not ensure cybersecurity (the NXT did). Digging is the only way – to create a new currency unit and to increase the number of units available after the currency is issued.
Not to be confused (non_shuffleable)--

This attribute indicates that the currency is not involved in confusion in the future (coin shuffling). By default, currency is allowed to participate in obfuscation (shuffling). (Translator Note: Coinshuffle is a technology that mixes multiple account currencies to increase the anonymity of bitcoin, preventing Bitcoin from being tracked in Public ledger transactions.) Paper published in