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A. Why does a transaction in the blockchain require 6 blocks of confirmation? Is it a hard and fast rule?
This is not a hard and fast rule. It does not exist in the blockchain. any relationship. There is a relationship between the algorithm of this coin and the confirmation method of each coin is different, so this is not a hard and fast rule.
The number of confirmations for Bitcoin, Ritecoin, Litecoin, and Dogecoin are all different.
B. The Bitcoin system stipulates that it takes several individuals to confirm before the transaction is completed
6 blocks are confirmed.
Explanation:
A transfers 1 Bitcoin to Mr. B. In addition to entering the transaction amount of 1 Bitcoin, he also needs to set a certain amount of mining fees. After entering the secret key and After clicking Send, you need to wait for transaction packaging and 6 block confirmations to complete the transfer, and this process takes about 30 minutes to 1 hour.
There are many nodes on the Bitcoin network. Assume that nodes B and C both calculate the proof-of-work solution within a short time difference, and then spread the blocks they mined to the network, first to neighboring nodes, Then spread to the entire network.
The block data of miners B and C are different, but they are both correct, so at this moment two different blocks that meet the requirements appear, D and E entered near B and C When miners such as , F and so on monitor the two blocks, there is a difference in the order. What to do? The first thing is to think first. The node copies the block it listens to first, and then starts mining the new block.
At this time, different nodes have different versions of the blockchain at the same time, and these two versions of the blockchain continue to be mined by miners. However, the growth rates of the two versions of the blockchain are different, and one chain is always longer than the other. When miners D, E, F, etc. discover that there are longer chains in the entire network, they will abandon the current shorter chain and switch to the longer chain for mining. Those blocks that were successfully mined by miners were abandoned because they were not on the longest chain. They are called outdated blocks. The data in these outdated blocks needs to wait to be written into the block again.
When a transaction is confirmed by 6 blocks, it is confirmed that the transaction is in the longest branch of the blockchain and cannot be tampered with, and then Xiaoxing can be spent to transfer his Bitcoin.
(2) Several times for Zcash blockchain confirmation extended reading
Bitcoin transaction confirmation process
(1) Wallet creation transaction
Wallet software collects A transaction is created in a series of ways: UTXO, providing the correct unlocking script, and constructing an output to be paid to the recipient. The generated transaction will then be sent to nearby nodes on the Bitcoin network, allowing the transaction to be propagated throughout the Bitcoin network.
(2) Transaction independent verification
Each Bitcoin node that receives a transaction will first verify the transaction, and valid transactions will be passed to neighboring nodes. This will ensure that only valid transactions are Will be atpropagated through the network, and invalid transactions will be discarded at the first node.
Verified transactions are added to the transaction location: After verifying the transactions, the Bitcoin node will add these transactions to its own transaction pool to temporarily store transaction records that have not yet been added to the block.
(3) Node Confirms Transaction
Suppose there is a Bitcoin network node A, which has collected blocks 277 and 314. Next, node A does two things: 1. Try to mine new blocks; 2. Monitor whether other nodes have mined new blocks. If node A listens to block 277315, it marks the end of the competition for blocks 277 and 315. At the same time, the competition for blocks 277 and 316 starts.
After receiving and verifying blocks 277 and 315, node A will check all transactions in the memory pool and remove transaction records that have appeared in blocks 277 and 315 to ensure that any transactions remain in the memory pool. The transactions in are unconfirmed and are waiting to be recorded in a new block, while the removed transaction records receive a confirmation transaction. Transactions included in a block and added to the blockchain are called confirmed transactions.
C. This is what transactions on the blockchain are like
Transactions on the blockchain are actually very simple and not mysterious. To understand transactions on the blockchain, let me first look at a transaction in daily life.
What would happen if the payment method of this transaction was moved to the blockchain? Before talking about blockchain transactions, let’s briefly talk about blockchain transaction accounting.
1. What is blockchain
Blockchain is simply B’s ledger. A block is a page in this ledger, used to record transaction information. For example: On December 14, 2017, a computer was sold and a profit of 5,000 yuan was made. All blocks are strung together in order to form a blockchain, that is, a ledger.
2. Characteristics of blockchain
Blockchain is a distributed accounting network. If it is difficult to understand, you can compare it with Alipay, a centralized accounting network, as shown below: < /p>
The central approach is like having only one accountant. Only this accountant knows how the transaction is going. Distribution is like a bunch of people keeping the same account and making a transaction, everyone knows about it. A relatively small group with only one person knowing the information. An information disclosure and transparency.
3. Blockchain transaction accounting
In Alipay’s centralized accounting network, transfers only require Alipay to confirm and record the transfer behavior, and then the transfer can be completed and recorded. .
In the blockchain of the distributed accounting network, each transfer transaction will be sent to each node and confirmed by them before the transfer can be completed and recorded.
To put it simply, one person has the final say in a centralized accounting network, while the distributedIn the distributed accounting network, everyone has the final say. If anyone lies or deceives, they will be found out quickly because everyone has an identical account book in their hands.
If A chooses Alipay to transfer payment to B, the operation process is as follows: open Alipay -> click on transfer -> enter the other party's Alipay account -> enter the transfer amount -> click to confirm the transfer -> enter the password. Whoosh, the money was in account B.
If A chooses to pay B with BTC, if the current 1 BTC = 100,000 yuan, then A needs to pay 0.05+0.001 = 0.051 BTC to B, of which 0.001 BTC is the mining fee.
The operation process is as follows:
In terms of operation, the transfer process is similar. Maybe you don’t understand what an address is? What the hell is the mining fee? What are those 6 confirmation numbers? No rush, come one by one.
1. Blockchain address
The address can be understood as B's Alipay account. When A transfers money to B, he naturally needs to know the other party's "account number" so that he can transfer money there. The following is a BTC address:
It is a string composed of numbers and letters.
How is this address generated? It is generated by the public key through a one-way hash function. You can leave it alone and it is automatically generated. Unlike Alipay, you can choose the Alipay account name according to your personal preferences when applying for an account.
What else can the address be used for? To check the "account" balance and transfer transactions, you can check the balance and transfer records under any valid BTC address on the btc.com website, as shown in the following figure:
2. Transaction confirmation number
In the blockchain distributed accounting network, every transfer transaction is confirmed by a node in the network, and one transaction confirmation number is recorded. However, it will take a long time for the transfer to take effect only after confirmation from all nodes in the network. Therefore, in the BTC network, based on design calculations, when 6 transaction confirmations are obtained, the transaction can be considered very safe, the transaction takes effect, and the transferred BTC can be received.
3. Mining fees
Mining fees are the "tips" paid by A to the BTC network provider when A transfers money to B to encourage them to provide services for the BTC network. The "tip" can be adjusted. The more "tip" you give, the faster the transfer speed will be.
4. Transaction progress query
BTC transfer generally takes 0.5~1h. Faced with such a long time transfer, it is inevitable to check the transfer progress to comfort the anxious mood. How to check it? ?
You can query by address, as above. It can also be queried by TxID.
What is TxID? TxID is the abbreviation of transaction ID, which translates to: transaction ID.
When the transaction information is packaged and sent to the network, a TxID will be generated, but it is used to view transaction-related information, somewhat similar to a receipt. The status of any transaction ID can be queried through the btc.com website, as shown in the query result below:
At this point, you can easily transfer transactions on the blockchain, check account status and transfer progress.
This article is rewarded by bihu.com content support plan
D. What are the classifications and applications of blockchain projects
From the current mainstream From the perspective of blockchain projects, there are four main categories of blockchain projects: Category 1: Currency; Category 2: Platform; Category 3: Application; Category 4: Asset Tokenization.
Coins mainly serve as the "medium of exchange" in the field of blockchain assets. The medium of exchange refers to general equivalents, such as gold and silver notes in the past. (Trade blockchain assets on "Bihui Exchange")
Platform projects refer to the establishment of technology platforms to meet the development of various blockchain applications, which can reduce the cost of developing applications on the blockchain. threshold.
The scope of application projects is relatively wide, covering many fields such as finance, social networking, games, property rights protection, etc. It is also the fastest growing field of blockchain assets at present.
The asset tokenization project refers to the blockchain mapping of physical assets, that is, the physical assets are put on the chain. Currently, there are no more than 10 varieties.
01 Currency
The first category is currency projects, which are also the earliest blockchain projects. Currency projects mainly include projects such as Bitcoin and Litecoin. In addition, there is another type of asset that has the characteristics of anonymity. Its main functions include realizing payment while protecting the privacy of both parties. The well-known ones include Dash, Monero and Big Zero that use zero-knowledge proof. Coin (Zcash), etc. Currencies mainly serve as the "medium of exchange" in the blockchain asset field. The medium of exchange is the general equivalent that you use to exchange for goods. For example, in the past, gold, silver, and banknotes could be used as media of exchange. There are currently more than 2,100 types of digital assets in the world, and the number of currency blockchain projects has grown rapidly recently. As of June 2018, Bitcoin still has the largest market value.
02 Platform Category
The second category is platform blockchain projects. The main function of platform blockchain projects is to establish a technology platform to meet the needs of various blockchain application development. The required technical requirements; simply put, platform applications allow developers to directly issue digital assets on the blockchain, write smart contracts, etc. A smart contract is a computer program that runs on a blockchain database and can be automatically executed under conditions set by its source code.
Give me an exampleZi, you develop a smart contract based on the house rental agreement on the blockchain. When the owner receives the rent, it will trigger automatic execution and give the apartment’s security key to the tenant.
The main function of platform blockchain projects is to establish an underlying technology platform to allow developers to develop applications on the underlying technology platform. A considerable number of platforms are still under development. As of June 2018 , the one with the largest market value is Ethereum.
03 Application Category
The third category is application blockchain projects. Application projects are developed based on blockchain development platforms (such as Ethereum) and can solve various problems in the real economy. Blockchain projects that address many issues in the field.
For example, the blockchain-based prediction platform Augur, the blockchain-based computing power trading platform Golem, the blockchain-based luxury traceability platform VeChain, and the blockchain-based asset exchange and transfer services OmiseGo. Using blockchain technology, these projects can better solve trust issues, cross-border circulation and other issues. At the same time, using smart contracts and tokens on the blockchain, automatic execution can be better realized, greatly improving the efficiency of social and economic activities. efficiency. The scope of applied blockchain projects is relatively wide, covering many fields such as finance, social networking, games, property rights protection, etc. It is also the field where the market value of blockchain projects is increasing the fastest.
04 Asset Tokenization
The fourth category is asset tokenization blockchain projects. Asset tokenization refers to linking blockchain assets to physical assets such as gold and U.S. dollars. , is a blockchain mapping of physical assets. As of February 2018, there are no more than 10 varieties. The more typical representatives are USDT, which is benchmarked against the US dollar, and Digix Dao, which is benchmarked against gold. Each DigixDAO token represents 1 gram of London gold. Silver Market Association certified gold. Asset tokenization has the advantages of convenient transactions and safekeeping. First, asset tokenization makes transactions easier. Because blockchain assets can be split, they have better liquidity.
For example, currently the real estate needs to be transferred as a whole. If the real estate can be tokenized, it can be purchased in pieces, making transactions more convenient. Secondly, tokenization of physical assets is more conducive to safekeeping. In physical transactions such as gold, it is easy to cause wear and tear and cause losses. However, after tokenization of physical assets, there is no need for physical transfer, which is more conducive to the custody of physical assets.
E. What is the blockchain Potato chain and what is the Potato chain
Regarding this issue, I actually recommend you to take a look at the lobbying community (web link), where there are big bosses V has the answer for you. Here I will share with you an article by teacher Ruan Yifeng, which should be able to answer your questions.
1. The essence of blockchain
What is blockchain? In a word, it is a special kind of distributed database.
The current rule is that new nodes always use the longest blockchain. If the blockchain has a fork, it will look at which branch is behind the fork point,6 new blocks are reached first (called "six confirmations"). Based on a block calculation of 10 minutes, it can be confirmed in one hour.
Since the generation speed of new blocks is determined by computing power, this rule means that the branch with the most computing power is the authentic blockchain.
9. Summary
As an unmanaged distributed database, blockchain has been running for 8 years since 2009 without major problems. This proves it works.
However, in order to ensure the reliability of data, blockchain also has its own price. The first is efficiency. You have to wait at least ten minutes to write data to the blockchain. All nodes need to synchronize the data, which requires more time. The second is energy consumption. The generation of blocks requires miners to perform countless meaningless calculations. This is Very energy consuming.
Therefore, the applicable scenarios of blockchain are actually very limited.
There is no management authority that all members trust
The data written does not require real-time use
The benefits of mining can make up for its own costs
If the above conditions cannot be met, then a traditional database is a better solution.
Currently, the largest application scenario (and possibly the only application scenario) of blockchain is the cryptocurrency represented by Bitcoin.
F. What is the issuance price of the digital currency Zcoin?
Zcash does not have an ICO and has no issuance price like BTC.
ZEC, Zcash was issued for the first time on 2016-10-28. After the issue, the private transaction price was very high! ! !
Zcash is the first blockchain system to use a zero-knowledge proof mechanism, which provides complete payment confidentiality while still being able to use a public blockchain to maintain a decentralized Centralized network. The same as Bitcoin, the total amount of Zcash tokens (ZEC) is also 21 million. The difference is that Zcash transactions automatically hide the senders, recipients and amounts of all transactions on the blockchain.
The block generation time of Zcash is 10 minutes, the total currency supply is 21 million coins, and the output halving cycle is the same as Bitcoin, which is halved approximately every four years.
G. What is blockchain technology? What exactly is blockchain?
In a narrow sense, blockchain is a way to block data in chronological order. A chained data structure composed of sequential connections, and a cryptographically guaranteed distributed ledger that cannot be tampered with or forged.
Broadly speaking, blockchain technology uses block chain data structures to verify and store data, uses distributed node consensus algorithms to generate and update data, and uses cryptography to ensure data transmission and access. It is a new distributed infrastructure and computing method that uses smart contracts composed of automated script codes to program and operate data securely.
[Infrastructure]
Generally speaking, a blockchain system consists of a data layer, a network layer, a consensus layer, an incentive layer, a contract layer and an application layer. . Among them, the data layer encapsulates the underlying data blocks and related basic data and basic algorithms such as data encryption and timestamps; the network layer includes distributed networking mechanisms, data dissemination mechanisms, and data verification mechanisms; the consensus layer mainly encapsulates network nodes Various consensus algorithms; the incentive layer integrates economic factors into the blockchain technology system, mainly including the issuance mechanism and distribution mechanism of economic incentives; the contract layer mainly encapsulates various scripts, algorithms and smart contracts, and is the core of the blockchain The basis of programmable features; the application layer encapsulates various application scenarios and cases of the blockchain. In this model, the chain block structure based on timestamps, the consensus mechanism of distributed nodes, economic incentives based on consensus computing power, and flexible programmable smart contracts are the most representative innovations of blockchain technology.
Extended information:
[Blockchain core technology]
Blockchain mainly solves the trust and security issues of transactions, so it addresses this issue Four technological innovations:
1. Distributed ledger means that transaction accounting is completed by multiple nodes distributed in different places, and each node records a complete account, so they all Can participate in supervising the legality of transactions and can also jointly testify for them.
The uniqueness of blockchain’s distributed storage is mainly reflected in two aspects: First, each node of the blockchain stores complete data according to the block chain structure. Traditional distributed storage generally stores The data is divided into multiple parts for storage according to certain rules. Second, the storage of each node in the blockchain is independent and has equal status, relying on the consensus mechanism to ensure storage consistency, while traditional distributed storage generally synchronizes data to other backup nodes through the central node.
No node can record ledger data independently, thus avoiding the possibility of a single bookkeeper being controlled or bribed to record false accounts. Also because there are enough accounting nodes, theoretically speaking, the accounts will not be lost unless all nodes are destroyed, thereby ensuring the security of the accounting data.
2. Asymmetric encryption and authorization technology. Transaction information stored on the blockchain is public, but account identity information is highly encrypted and can only be accessed with authorization from the data owner. , thus ensuring data security and personal privacy.
3. The consensus mechanism is how all accounting nodes reach a consensus to determine the validity of a record. This is both a means of identification and a means of preventing tampering. Blockchain proposes four different consensus mechanisms, which are suitable for different application scenarios and strike a balance between efficiency and security.
The consensus mechanism of the blockchain has the characteristics of "the minority obeys the majority" and "everyone is equal". "The minority obeys the majority" does not entirely refer to the number of nodes, but can also be the computing power and the number of shares. Or other computers can compareFeature amount. "Everyone is equal" means that when a node meets the conditions, all nodes have the right to give priority to the consensus result, which will be directly recognized by other nodes and may eventually become the final consensus result.
4. Smart contracts. Smart contracts are based on these trustworthy and non-tamperable data and can automatically execute some predefined rules and terms. Take insurance as an example. If everyone's information (including medical information and risk occurrence information) is true and trustworthy, it will be easy to automate claims settlement in some standardized insurance products.
In the daily business of insurance companies, although transactions are not as frequent as those in the banking and securities industries, the reliance on trusted data continues unabated. Therefore, the author believes that using blockchain technology from the perspective of data management can effectively help insurance companies improve their risk management capabilities. Specifically speaking, it is mainly divided into risk management of policyholders and risk supervision of insurance companies.
Blockchain-Network
H. The disadvantages of the centralized computing and processing model of blockchain are
Write an answer
WaykiChain
Blockchain public chain
1. Efficiency issues
Low transaction efficiency
Compared to many Internet payment networks, The transaction efficiency of blockchain is still very low. The number of transactions per second of the Bitcoin blockchain is 7, Ethereum is between 10-20, and WaykiChain can reach 1000+. However, during Double Eleven in 2017, Alipay’s transaction speed per second reached 256,000.
From the perspective of transaction processing frequency, blockchain technology is far inferior to the Internet. Breaking through the number of transactions per second is also one of the major technical challenges faced by blockchain technology.
Long transaction verification time
Take Bitcoin as an example. The current average confirmation time for a Bitcoin transaction is about 10 minutes, which is also the generation time of a block. In the case of 6 confirmations, you need to wait for 1 hour. Verification of transactions such as Alipay only takes a few seconds.
2. High energy consumption problem
Blockchain is a high energy consumption system. In order to maintain the authenticity and integrity of the blockchain, its computing power per second reaches Seven trillion times. Miners compete for the accounting rights of Bitcoin through random hash operations. This process requires electricity to complete, and less than 1% of miners can compete for the accounting rights of blocks every 10 minutes. Other miners calculate All the energy was wasted.
3. Technical performance issues
Every node that wants to participate in the blockchain must download, store and update a data package starting from the genesis block and continuing to the present. If the data of each node is completely synchronized, the storage space capacity requirements of blockchain data may become a key issue restricting its development.
4. Security issues
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Blockchain adopts the principle of asymmetric cryptography and is safe according to the current technical level. However, with the development of quantum computers and the deepening of mathematical research, it is unknown whether this asymmetric encryption algorithm can be cracked. When the day comes when the encryption algorithm is cracked, blockchain technology will no longer be a trustworthy security technology.
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