Pseudo-teaching real game | Where is your money (likecoin)?

The last time this fake teaching real game｜Likecoin hot wallet , no one played it, very sad. Decided to turn grief and anger into strength, and write another article!

game

Before playing this game, you also need to go to the fake teaching game | Likecoin hot wallet to finish the warm-up exercise, and it is best to finish the last game first.

hint:
1. contrary to or forbidden by law, especially criminal law.
2. a disease or period of sickness affecting the body or mind.
3. a cereal plant that is the most important kind grown in temperate countries, the grain of which is ground to make flour for bread, pasta, pastry, etc.
4. a plan of action or policy designed to achieve a major or overall aim.
5. Having knowledge or perception of a situation or fact.
6. a supposition or a system of ideas intended to explain something, especially one based on general principles independent of the thing to be explained.
7. pick out or select (someone or something) as being the best or most appropriate of two or more alternatives.
8. (especially of something that is considerably longer or higher than it is wide) of small width.
9. an enclosed compartment, as in a kitchen range, for cooking and heating food.
10. a feeling of sadness, repentance, or disappointment over something that has happened or been done.
11. the distance from the top or surface to the bottom of something.
12. An act of bringing something or someone up to date, or an updated version of something.

The bonus is here, welcome to add 🙏: cosmos1rkx0tahhdmp63n658z8z9um9h6cgmv7fesc6dd

Today I want to talk about this picture

First, where is your Likecoin (money)?

First look at the top of the picture, where there is likecoin.

Likecoin, like other cryptocurrencies, the Likecoin that belongs to you is actually recorded in the ledger. Likecoin uses an open source tool called Cosmos to build its own Likecoin chain, which can be imagined as the flow record and ledger of likecoin. Then, there are more than 40 validators who are responsible for recording and protecting the ledger. Each of them has a complete ledger in their hands. They communicate with each other and supervise each other, and each person’s transaction records are recorded in it. Also because the ledger in the hands of each validator is complete, as long as one validator is still alive, your likecoin will not disappear. There is a cost to manage the ledger. In order to allow them to have "money" to survive, and to reward validators, our usual transactions require gas fees, similar to handling fees, as their income. So in the picture above, you can see that there are validators (people) behind likecoin, and accounts (books) beside it.

Centralized use of Likecoin

Let's take a look at the center left, where Matters, Liker.Social, Liker.Land are located.

Now most citizens have only contacted Matters, Liker.Social, and Liker.Land (LIKE button and LIKE pay). On a closer look, Matters and Liker.Social actually use the functionality provided by Liker.Land, so when you support creators on Matters, you need to jump into Liker.Land.

In fact, no matter how we use likecoin, it will be disassembled into receiving and sending likecoin at the end, which can be imagined as a record of "X gave Y likecoin to Z". This transaction record will be recorded in the likecoin ledger. Recording in the ledger is like going to a bank, which requires "signature" and "seal". This step requires your "private key". After you send a transfer request on Liker.Land, Liker.Land will forward your request to Authcore. Authcore uses your "private key" to "sign" and "seal", and then hand it over to the verifiers for verification and verification. Record.

In the current design of Liker.Land, I personally think that you do not really own the "private key", nor do you really own your identity. The "private key" is in the hands of Authcore, and it will use the login account to determine which one The "private key" belongs to you. But it seems like Authcore has a way to ensure that only you have access to your private key.

Indeed, the Likecoin team has made what should be decentralized into centralized. However, I don’t think it’s a bad thing at all. This method simplifies a lot of things, and is very close to the user’s previous habits and cognition, making the initial use and promotion a little easier. Although it is one point, it may already be the difference between life and death.

In fact, there are a lot of centralized things in the world of cryptocurrency. Liquid, DigiFinex and ZB you use are called centralized exchanges. They will appear and survive in a decentralized world because they provide convenience and lower the threshold for users. It's just that in the process of using them, there are also risks. It is not impossible to use, but it is best to learn and understand first, and then use it in a safe and effective situation. We use many centralized services in our daily life, such as banks, department stores and so on. Among them, we often choose to use a certain brand because we trust it more. And I use Liker.Land because I trust Liker.Land and the likecoin team.

But "centralization" is a problem after all, especially now. The origin of cryptocurrencies is decentralization, not only because of distrust, but also because you can't trust, don't put all your eggs in the same basket. In the world of cryptocurrencies, you are constantly being told: no your key, no your money . However, you can still use it! And apparently Likecoin is now (somewhat) decentralized. It makes more sense to start teaching everyone about decentralization now (right?).

Decentralized usage of Likecoin

And then from center to center right.

In fact, although Liker.Land uses the likecoin that should be decentralized in a centralized way, it can only be centralized all the time. In fact, the first step in decentralization is to solve "no your key, no your money" and let users have their own "private keys". This is actually not difficult. Likecoin is built on the basis of the open source tool Cosmos. It only needs to use the tools in the Cosmos ecosystem to easily generate a "private key". If you play the fake teaching game | Likecoin hot wallet, you will know how easy it is. But with the "private key", there are no applications and services for you to use, which is actually meaningless. Likecoin now also has (I only know) two applications (websites) that allow you to use your likecoin in a decentralized way, namely https://likecoin.bigdipper.live and https://stake.like.co . BigDipper should be used by everyone to check the income and expenditure records of others and themselves. And https://stake.like.co is mentioned in the fake teaching real game | Likecoin hot wallet . Both of them allow you to use the LIKE pay function to transfer likecoins to another liker. It is also possible to delegate and receive returns.

In fact, the ideal look in my mind is as follows, use the hardware wallet Ledger to generate the "private key", and then connect to Keplr. Liker.Land even Keplr. When there is a need to remit money, you first generate a request in Liker.Land, then Liker.Land transfers it to Keplr, Keplr transfers it to the wallet with the "private key", the ledger "signs", and then returns to keplr and Liker.Land . In this way, everyone's "private key" is not in the same place. Although it is decentralized, it is also much slower and more troublesome. In the future, every time I use likecoin to support the creator, I have to take out the Ledger and keep pressing it.

Is there really a need for decentralization?

Then finally take a look at the bottom of the picture.

Is it really necessary to decentralize, use a wallet? At first, my thought was to see how much likecoin I had in my hand to exchange for cash. Cold wallets are hardware that need to be purchased to use, which has a real monetary cost. And the price is not cheap, Ledger Nano X: NT$4,199, Nano S: NT$2,099, and because it is related to money, for safety, it is only recommended to buy directly from the official website, which will add shipping costs. If you don't earn enough likecoins on Matters, I don't think you need to use hot wallets or cold wallets. And you also need to learn something first, or if you drop "auxiliary words" on Google Docs, it's a big deal.

However, now I have changed my mind. I think it must be used, at least with a hot wallet such as Keplr. Even if you only have a small amount of likecoin, you should start using it and get used to the operation of the wallet and the protection awareness of the "mnemonic phrase" (actually it is not too difficult). The reason is that the political risk in Hong Kong and Macau is really too high right now, and things have been happening that I never thought would happen. Now I'm so desperate that I don't think anyone in Hong Kong or Macau is safe. Both the Matters and Likecoin teams originated in Hong Kong. For this alone, I very much hope that citizens can start to learn and try to use hot wallets and cold wallets. Begin to truly decentralize Likecoin.

In the end, in general, what I would suggest would be, if you earn a certain amount of likecoin, convert it to cash, then buy a Ledger, start learning how to use a Ledger, and slowly move most of the likecoins you have to Inside the account corresponding to the Ledger "private key". If you don't make any money, learn to use Keplr first. But, but, before that, go play the game and teach the real game | Likecoin hot wallet . If you're not going to make money, just enjoy creating and interacting with Matters wholeheartedly.

Articles and pictures are CC0 and can be used arbitrarily. The image source file is at https://drive.google.com/file/d/1bAFBsuBDFAUlyu0O1wdY1nlN5PvH8ttT/view?usp=sharing , drawn with draw.io. But please pay attention to the right to use the pattern inside.

Puzzle powered by https://crosswordhobbyist.com/ , google translate and MS Paint.

Cover photo from: https://www.pexels.com/photo/baby-child-close-up-crying-47090/