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㈠ What kind of world can be built using cryptocurrency and blockchain?

Ethereum (English: Ethereum) is an open source public block with smart contract functions chain platform. It provides a decentralized virtual machine (called the Ethereum Virtual Machine) through its dedicated cryptocurrency Ether (also known as "Ether") to process peer-to-peer contracts. The concept of Ethereum was first proposed by programmer Vitalik Buterin between 2013 and 2014, inspired by Bitcoin. It roughly means "the next generation of cryptocurrency and decentralized application platform" and began to develop through ICO crowdfunding in 2014. On May 17, 2018, China officially released the first global public chain technology evaluation index and ranking, and Ethereum ranked first on the evaluation list.

Vitalik Buterin is the founder of Ethereum. He founded Ethereum at the age of 19 and had a net worth of hundreds of millions in his 20s. If Satoshi Nakamoto is the creator of the blockchain, then Buterin started the blockchain 2.0. He is known as "V God" and is the spiritual leader of the cryptocurrency circle.

Buterin was born in Russia in 1994 and immigrated to Canada with his father when he was six years old. In the 1990s, when Buterin was born, the Internet began to become popular, and the optimism brought about by technological leaps permeated the world. Many people believe that the Internet will make the world more open, more efficient, and more equal, make it easier to expose information, and make those in power more accountable.

However, while technology has brought great progress, it has also brought serious problems. Personal data is held by large companies and governments. Electronic surveillance is everywhere and at all times. On the surface, social media enhances communication, but on a global scale, it exacerbates ideological conflicts. Bitcoin, and the underlying blockchain technology, represent another possibility for the Internet in many people’s minds: decentralization and anonymity.

At the end of 2013, 19-year-old Buterin published the "Ethereum" white paper. Ethereum not only brings a new cryptocurrency, Ethereum, but is also based on a common coding language that can be used to create a variety of applications. Ethereum is known as the "world computer" that never goes offline. Its vision is to return control of data to its owners and return creative rights to its authors.

Six years after Ethereum’s public launch, Ethereum has become the world’s second-most valuable cryptocurrency after Bitcoin. A very large and rapidly developing ecosystem has formed around Ethereum. It has begun to have practical applications in decentralized finance (De-Fi), social media, publishing, social organizations, etc.

Buterin has a clear world view. The decentralization, censorship-resistant, square voting method he advocates (Quadratic Voting), etc. involving democratic practice, Internet structure, business and public welfare organizations. His view of the world allows him to know what community he should be in, what he should be connected to, what he should promote, and what he should avoid. This also makes his influence far beyond the cryptocurrency circle. In Buterin's own words, "My life is to be a bridge to all things." He is of course a leader in the Ethereum community. The Ethereum Foundation provides tens of millions of dollars in external funding every year, and some projects have exceeded the field of cryptocurrency. He has 2.3 million followers on Twitter. He is involved in the production of "Radical Markets" theory and often participates in public policy discussions with think tanks and other opinion leaders.

Buterin believes that there are two different forces in the technological field. One technological force will make the strong stronger and concentrate resources more towards the head, while the other technological force may allow us to continue Maintain freedom, freedom of anonymity, freedom of thought and speech. He mentioned the judgment of Peter Thiel (a famous investor and entrepreneur in Silicon Valley), "Artificial intelligence is communism; encryption technology is liberalism." He also mentioned that maybe the future will not be one technology completely defeating another. A technology, but people living digitally should have the freedom of choice.

For an investor, the most important thing is the "right amount", not the "right number of times." It doesn't help to be confident or to hold a small position.

—— Soros

Is it possible to return ownership of data to individuals while ensuring the efficiency of task execution? Is it possible for such a structure to solve some of the major problems in today's Internet? Can Ethereum take on such a task? What will the next generation of Internet look like? What will decentralization bring? What kind of world can be built in the future with cryptocurrencies and blockchain?

㈡ Popular explanation of what blockchain is

Question 1: What is blockchain? Can you explain the principle of 10-point blockchain in plain language: decentralization A distributed accounting system
The core of blockchain technology is that all currently participating nodes jointly maintain transactions and databases. It makes transactions based on cryptographic principles rather than trust, so that any two parties who reach an agreement can directly Payment transactions are carried out without the involvement of a third party.
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Technically speaking, a block is a data structure that records transactions, reflecting the flow of funds for a transaction. The blocks of transactions that have been reached in the system are connected together to form a main chain, and all nodes participating in the calculation record the main chain or part of the main chain. A block contains the following three parts: transaction information, hash hash formed by the previous block, and random number. Transaction information is the task data carried by the block, specifically including the private keys of both parties to the transaction, the number of transactions, and the number of electronic currencies.Signatures, etc.; the hash formed by the previous block is used to connect blocks to achieve the order of past transactions; random numbers are the core of transaction completion, and all miner nodes compete to calculate the answer to the random number and get the answer the fastest The node generates a new block and broadcasts it to all nodes for update, thus completing a transaction.
1.1 What is Blockchain
Blockchain (BlockChain) refers to a technical solution that collectively maintains a reliable database through decentralization and trustlessness. This technical solution mainly allows any number of nodes participating in the system to associate and generate a series of data blocks (blocks) using cryptographic methods. Each data block contains all the information exchange data of the system within a certain period of time, and generates The data fingerprint is used to verify the validity of its information and chain to the next database block.
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In layman’s terms, blockchain technology refers to a way for all people to participate in accounting. Behind all systems there is a database, which is a big ledger. Then who will keep this ledger becomes very important. At present, it is whoever owns the system who keeps the accounts. Each bank’s account books are kept by each bank, and Alipay’s account books are kept by Alibaba. But now in the blockchain system, everyone in the system has the opportunity to participate in accounting. If there are new transaction data changes within a certain period of time, everyone in the system can do accounting. The system will judge the person who has the fastest and best accounting during this period, write the recorded content to the ledger, and Send the contents of the ledger during this period to all other people in the system for backup. In this way, everyone in the system has a complete ledger. Therefore, this data becomes very safe. A tamperer needs to modify more than half of the system node data at the same time to truly tamper with the data. Such tampering would be extremely costly, making it nearly impossible. For example, Bitcoin has been running for more than 7 years. Countless hackers around the world have tried to attack Bitcoin, but so far there have been no transaction errors. It can be considered that the Bitcoin blockchain has been proven to be a safe and reliable system.
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1.2 Why is there blockchain innovation?
Human beings need to communicate during their activities, and communication is based on information. In the past, information circulation was not convenient enough to satisfy market participants. There is a demand for information, so intermediaries and centers are born. This centralized system has problems such as high cost, low efficiency, value dispersion, "information islands" and insecure data storage. However, due to technical and environmental factors, this system continued to operate for many years until the emergence of the Internet. The starting point of the first generation of the Internet is the TCP/IP protocol, which is an open code that implements a unified format for peer-to-peer transmission of information by all nodes on the network, and brings the basic values ​​of freedom and equality required by a global unified market into programmed, protocol-based, and reliably Execution. The Internet eliminates low-value, high-cost intermediate chains and achieves low-cost and high-efficiency global information transmission in a decentralized manner.
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However, the first generation of the Internet did not solve the problem of information credibility. Activities that can be decentralized on the Internet must be activities that do not require credit endorsement, and activities that require credit guarantee must be activities involving centralized third-party intermediaries. Therefore, Internet technology that cannot establish global credit has encountered great obstacles in its progress - people cannot participate in any value exchange activities on the Internet in a decentralized manner. To realize value exchange, people still need third-party intermediaries based on credit (such as banks, clearing agencies, exchanges). The global centralized credit system still has problems such as high operating costs, low efficiency, and vulnerability to attacks and damage. For example, each country's legal currency has different credit values ​​and incompatible clearing systems, which adds a lot of cost to global trade.
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Therefore, what the second generation Internet must break through is: how to establish global credit in a decentralized manner? Let...>>

Question 2: What is blockchain? What does it mean in layman’s terms? What is China’s attitude towards blockchain? What can blockchain do? Blockchain, a great technology that accompanied the birth of Bitcoin, is currently being used in the financial field to significantly reduce transaction costs and improve efficiency, which is enough to excite Wall Street. However, this is just the tip of the iceberg. Its potential applications are very broad and will subvert every aspect of our lives in the future.
Blockchain is an important concept of Bitcoin. It is essentially a decentralized database and serves as the underlying technology of Bitcoin. One of the most basic characteristics of Bitcoin is decentralization. In recent months, financial giants have gradually begun to pay attention to Bitcoin's technology and used it in non-monetary fields, such as stock trading, election voting, etc. (1) Art Industry
Artists can use blockchain technology to declare ownership and issue numberable, 100% edition works in digital form for any type of artwork. It even includes a marketplace where artists can buy and sell through their website without the need for any intermediary services.
(2), Real estate industry
Use blockchain technology to solve various problems faced by everyone involved in real estate, including the naming process, land registration, agency intermediaries, etc.
(3), Insurance Industry
The financial industry has always been the most sensitive to advanced technology. Traditional banking and securities industry giants have been involved in the booming blockchain venture capital investment since 2014, with total global investment reaching US$1 billion within two years.
(4) P2P wallet
Personal assets can be traded through this P2P wallet in the future without going through any central institution, such as Bitcoin.
Most blockchains are in their infancy, and primarilyOverseas, there are very few good domestic blockchain projects, so it is not recommended for any non-professionals to invest in blockchain projects. If you are very interested in blockchain technology and have a technical or financial background, it is recommended that you consider starting a business in this area. In terms of the blockchain protocol system, the lowest layer is the underlying technology of the blockchain, including the technical protocols of the blockchain, as well as some platform routing and basic algorithms; in the middle layer, some application interfaces and some credentials must be solved Issuance and verification, including some industry platform services, big data analysis, etc. This is a very rough classification, and there should be more detailed classifications; the top ones are some applications of blockchain, including finance Some applications and some applications in other aspects, the Internet of Things and so on.
Introduction to Bubi Blockchain
Bubi Blockchain has been focusing on the research and development and innovation of blockchain technology and products since its establishment. It has a number of core technologies and has achieved substantial results in many aspects. Radical innovation has resulted in a number of core technological achievements, such as: mathematically provable distributed consensus technology, fast large-scale ledger access technology, multi-chain general ledger technology that supports business expansion, and interconnection technology between heterogeneous blockchains. wait. On April 25, "Gege Points" introduced the concept of blockchain into the points system, jointly opened it up with multiple parties, issued and redeemed points, and promoted the circulation of points. Each cooperative institution can jointly participate in transaction verification, ledger storage, and real-time settlement; the third-party payment platform of the enterprise points issuer makes the entry and exit of points more flexible. Bubi has developed its own basic blockchain service platform, which has been applied in equity, supply chain, points, credit and other fields. Bubi has been committed to building an open value circulation network with decentralized trust as the core, allowing digital assets to flow freely.
A simple understanding of blockchain is a technology at the bottom of Bitcoin, which is also a peer-to-peer electronic cash system that can realize peer-to-peer value delivery. We should distinguish between Bitcoin, Bitcoin blockchain, blockchain and blockchain. Blockchain technology and other concepts. In countries with relatively developed finance in the past, finance and blockchain technology have a long history, and the legislation of digital currencies and blockchain networks is also very important. With the advent of the financial era, large financial institutions are studying blockchain technology. They have their own teams and conceptual technologies. Slowly, banks in various regions are also participating in digital currency discussions. The application and support of this technology are not only that. The influence of blockchain on enterprises is also huge. For larger domestic enterprises, Bubi Blockchain is also used in various equity, supply chain, points and other fields. Major domestic financial institutions and enterprises have taken a fancy to the new industry. value, they have developed their own blockchain platforms, and blockchain has instantly become a new innovative industry in China. In terms of overseas internationalization, the United States has already obtained 15 blockchain patents at the end of last year compared to China. Blockchain financial applications are entering a new stage in an all-round way. Various applications will become more and more in-depth, and related changes will also become more and more profound. It has attracted more and more attention and will form a huge new trend... >>

Question 3: What is blockchain technology? What exactly is blockchain? What is blockchain? 1. Data blockchain is an important concept in the Bitcoin financial system. It records transaction record data on the entire Bitcoin network, and these data are shared by all Bitcoin nodes. Through the data block, we can query each transaction record. A look at the history of Bitcoin transactions. 2. Example: There are three persons A, B, and C. All funds of A and B are kept by C. And every financial transaction must be recorded by C. Now assume that A and B each have 1 million in custody of C. Then: A spends 80,000 yuan to B, then C's account book record will subtract 80,000 yuan from A's name, and add 80,000 yuan to B's name. If B transfers 50,000 yuan to A, C will add 50,000 yuan to A's name and subtract 50,000 yuan to B's name in the account book. A spends 50,000 yuan to B, then C's account book record will subtract 50,000 yuan from A's name, and add 50,000 yuan to B's name. 3. The role of the data blockchain is similar to that of C’s account record book. It records the user’s ownership of Bitcoin and the records of all users’ Bitcoin transactions. It’s just that this “account record book” is recorded by the mining software of every Bitcoin miner on the network. If a Bitcoin transaction is confirmed by the data blockchain, the relevant information will be recorded in the data blockchain. Bitcoin’s “account record book” is called the data blockchain. All data blockchains on the network form Bitcoin’s distributed network database system. 4. The essence of data blockchain technology is a decentralized and distributed structure of data storage, transmission and certification methods. It uses data blocks to replace the current Internet's dependence on central servers, so that all data changes or transaction items are recorded. On a cloud system, the self-certification of data during data transmission is theoretically realized. In a far-reaching sense, this transcends the traditional and conventional information verification paradigm that relies on a center and reduces the cost of establishing global "credit." This point-to-point verification will produce a "basic protocol", which is a new form of distributed artificial intelligence and will establish a new interface and shared interface between human brain intelligence and machine intelligence.

Question 4: What is blockchain: This explanation of blockchain is more understandable. Blockchain refers to a technology that collectively maintains a reliable database through decentralization and trustlessness. plan.
In layman’s terms, blockchain technology refers to a way for all people to participate in accounting. There is a database behind all systems. You can think of the database as a big ledger. Then who will keep this ledger becomes very important. At present, it is whoever owns the system who keeps the accounts. WeChat’s account books are kept by Tencent, and Taobao’s account books are kept by Alibaba. But now in the blockchain system, everyone in the system has the opportunity to participate in accounting. If there are any data changes within a certain period of time, everyone in the system can do accounting, and the system will judge the fastest accounting during this period.The best person writes the contents of his records into the ledger, and sends the contents of the ledger to all other people in the system for backup during this period. In this way, everyone in the system has a complete ledger. In this way, we call it blockchain technology.
Blockchain technology has become the darling of the financial community in China and has become a hot topic. Domestic Puyin Group has launched Puyin, a tea-based digital currency.

Question 5: Explain in an easy-to-understand manner what blockchain is. Blockchain can be understood as a database system in a sense. The development of blockchain can be divided into 1.0 and 2.0
1.0 is represented by Bitcoin, and its main application is virtual currency or digital currency application. The blockchain at this time can only be used for simple digital currency transactions.
2.0 is represented by the now popular ethereum (Ethereum) and the upcoming hyperledger. The blockchain at this stage can not only meet the corresponding digital currency transactions, but also use smart contracts to customize currency or asset transactions. If we use the database analogy, the emergence of smart contracts can be understood as allowing users to define functions or stored procedures in the database and call and execute them.
Different from traditional databases, the blockchain introduces consensus mechanism, incentive mechanism, p2p (network), hash and other specific elements, making it open, decentralized and non-tamperable. characteristic.

Question 6: What is blockchain? Can anyone explain it in simple terms? Blockchain is the underlying technology of Bitcoin. It is like a ledger that records all transactions. It is decentralized. What is decentralization? For example, when you buy something on Taobao, you place an order and pay in Alipay. Alipay will not transfer the money to the seller until you receive the goods. Alipay is the third party in that center. Without it, it means decentralization, just like buying things offline. If you pay with one hand and get the goods with the other hand, there is no third party.
The blockchain itself is a series of cryptographically related data blocks generated.
Look carefully to see if it looks like a ledger. The pieces one by one are blocks, and connected together they are the blockchain.
Many companies are developing this technology, including ours, and its prospects are incredible. For details, you can go to our official website and hope to adopt it, thank you

Question 7: What is blockchain technology? What is blockchain? How to explain the concept of blockchain? People in each industry have different understandings, and relevant explanations are gradually emerging due to more and more real-life applications. With the popularization of this blockchain technology, the related results are getting bigger and bigger. If we want to understand this technology, we must have an in-depth understanding of reality.
In the past six months, the concept of blockchain has gradually become popular in China, and a blockchain whirlwind has taken off in the financial circle. Blockchain has attracted the attention and favor of more and more people in the industry due to its unique technical advantages. Blockchain technology, which is decentralized (or multi-centered), highly transparent, cannot be tampered with, and has no single point of failure, is entering the field of vision of financial institutions and enterprises. It has at least been used in digital currency, payment exchange, registration and settlement, Digital assets, traceability and anti-counterfeiting, supply chain, Internet of Things and many other fields have moved from theoretical discussions to practical applications.
"Blockchain" was first introduced with "Bitcoin" released in early 2009. Blockchain has become the basic protocol and technical application for the launch, recording, and circulation of Bitcoin. Although Bitcoin has been controversial since its inception and cannot even be regarded as a "currency" by governments and monetary authorities, the blockchain technology used in Bitcoin has been recognized by governments, including governments and monetary authorities. extensive attention.
Why has blockchain become a rapidly heating up hot technology and topic?
The most important of these may be that the launch of Bitcoin based on blockchain technology has opened up a new relationship with traditional society ( The exploration and attempt of brand-new technologies and rule systems such as Internet user identity verification, wealth confirmation, transaction records, notarization and verification, which have little connection with offline) and are fully applied in the online world (online), provide people with the opportunity to adapt to the Internet society. Development provides alternative paths and unlimited imagination.
Judging from its application in Bitcoin, blockchain is a set of new network blocks (BLOCK, also called communities) formed by combining encryption technology with the Internet. Bitcoin configuration, netizen identity verification, and Bitcoin (value) confirmation formed by mining, Bitcoin transaction records, and extended encryption of Bitcoin cross-block flow (value transfer) (added block and transaction time identification, etc. Internet protocol rules and accounting (Ledger) system including block chain, full encryption, mutual authentication, etc., including factor) registration and verification. Precisely because Bitcoin is not a substitute for offline legal currency, but is issued and managed by non-legal currency authorities, mainly imitating the model of gold, and is completely new and decentralized protected and supported by basic Internet protocols and strict encryption technology. Internet currency (virtual currency) has thus formed a new set of currency rules and systems that are different from and not subject to real social laws, and can be bought, sold or exchanged with legal currency. It has been more than 8 years since Bitcoin was launched. There has been no record of funds or user information being stolen. Its security has been verified, and its efficiency and cost of fund settlement also have obvious advantages. This has made people's confidence in the blockchain technology used in Bitcoin continue to increase, and people have become more and more aware that although blockchain is a technology and protocol pioneered and applied by Bitcoin, the blockchain Chain is not the same as Bitcoin, and its application is by no means limited to Bitcoin. districtThe application of blockchain can be decentralized or centralized; it can be a public chain model or a private chain model. Therefore, after Bitcoin, blockchain technology is also constantly developing and innovating, and constantly exploring new application fields, especially in the financial field.
The reason why blockchain is valued highly by more and more people is because the development and widespread application of the Internet have caused more and more economic exchanges and transaction activities to be conducted online, and the online world (or online world) society) is rapidly expanding, enriching and active, and online transactions must solve the efficiency and security protection issues of the parties' identity verification, value verification, transaction records, inspection and verification, etc., and require strict intermediaries and agreements (rules or constitutions). In this regard, traditional thinking and customary practices are to follow the development trajectory of the transfer of offline transactions to online and push the common rules and practices of the real (offline) society to the online (network) society. However, in practice, it is increasingly It is difficult to adapt to the needs of online transactions.
For example, for the identity verification of the parties, the natural choice is to use the information on the identity documents protected by the laws of various countries as the basis, and then add account or transaction passwords, as well as facial recognition, iris, fingerprints and other biometrics to conduct online transactions. Verification, but this method first makes the citizen identity information in the cross-border interconnected online world subject to the administrative jurisdiction of real society... >>

Question 8: Easy to understand Explain clearly what is blockchain. The English name of blockchain is Blockchain. Block literally means block, block, and chain means chain, chain. Therefore, together they are translated into blockchain.
1. Use cryptography technology to encrypt and decrypt so that records cannot be tampered with. Common blockchain encryption methods include hash algorithm, RSA algorithm, elliptic curve algorithm, etc.;
2. The huge amount of calculation needs to be supported by a reasonable reward mechanism. Because every transaction must be recorded, Bitcoin’s blockchain has more than 60 gigabytes so far. Every new transaction requires confirmation of the information related to the trading account to ensure that the transaction is valid. The huge amount of calculation requires a computer with powerful computing power to complete.
In order to encourage the participation of powerful computing power, Bitcoin provides two rewards: one is to issue a certain number of Bitcoins to these computers every day; instead, all transfer fees are awarded to these computers. (The technical term for these computers is "mining machines", and the people who hold the mining machines are called "miners".)
Biying China is working hard on the digitization of assets and has launched the digital currency crowdfunding platform Biying China.

Question 9: What is the so-called "blockchain"? Blockchain itself is a tool called decentralization and trustlessness. For example, when you graduate from university, the current practice is to have a certificate recognized and issued by an authoritative agency.as your proof. This setting is more troublesome, because this is a piece of paper, and paper can be forged, so there will be various gaps. The issuing authority is also a person, and there will be various gaps in the middle. As long as it is related to people, whoever There are various possibilities related to media. The blockchain provides a great opportunity. As soon as you graduate, you will have a record on the blockchain. No one can change this record. This thing exists objectively. You, as a physical existence , and then as a data existence, the blockchain was born. In this case, anyone who wants to check where you graduated can easily solve the problem. This is similar to the big data often involved in social networking (WeChat) and payment platforms (Alipay, Yibao).

Question 10: What does blockchain mean? Regarding blockchain, I think you have already seen the concept on the Internet. Let me explain it based on my understanding!
First, let’s talk about its characteristics: 1. Openness and transparency 2. Decentralization 3. Anonymity 4. Information cannot be tampered with, eliminated 5. No trust cost
Blockchain is like a public ledger , everyone has the right to record and read, and everyone will jointly supervise to ensure its accuracy, and the recorded content will be permanently saved, and can only be added but not deleted! However, as the number of blocks continues to increase, costs will increase and efficiency will decrease. (I’m not sure whether technology can be used to make up for this. I hope someone who understands technology can point it out.)
Blockchain is divided into public chain, private chain, and alliance chain. Public chain: accessible to everyone, everyone has read and write permissions, completely open, transparent and decentralized. Private chain: Open to individuals or institutions, in which the owner of the private chain can set various permissions to make it partially centralized. Alliance chain: Open to specific organizations or groups, it is also "partially decentralized". According to the ledger at the beginning, members can view and transact, but cannot record and confirm bills, or require permission from the alliance. (The latter two do not have cost and efficiency issues)
Regarding blockchain, countries have begun to recruit talents in this area. For this, you can search online for "Central Bank Recruiting Digital Currency R&D Personnel". In addition, you can increase your understanding of blockchain by understanding its existing applications. What we usually refer to generally refers to public chains. Currently, those used abroad include Bitcoin, Ethereum and other domestic blockchains. Chain
1. Open and transparent: Every piece of data is verified by everyone and can be viewed by everyone at any time.
2. Decentralization: For example, when we shop on Taobao, we conduct transactions through the intermediary Taobao, and blockchain allows both supply and demand parties to directly contact each other for direct transactions through blockchain technology.
3. Anonymity: No personal privacy information is required to complete transactions on the blockchain, only your unique alphanumeric signature is required.
4. Information cannot be tampered with or erased: data will be recorded once verifiedAfter that, no one has the permission to modify it, let alone delete it!
5. No trust cost: The trust crisis in reality will not appear in the blockchain. Transactions in the blockchain do not require you to trust the other party. Only when both of you have enough "digital assets" to trade can it be carried out, and Under the supervision of the entire network, transactions will not be broken. If you have no idea about the cost of trust, just think about how many intermediaries there are in your city, or just think about Jack Ma, and you will know how big the cost of trust is.
I am still learning more about blockchain. I am Li Ailin. If you have any questions, you can discuss and learn together!

㈢ What is "blockchain"

Blockchain is a public ledger. There is no centralized hardware or management organization and anyone can Automatically verify the authenticity of the ledger and easily detect whether the ledger has been tampered with by others.

In a word, the blockchain is a public ledger that can be verified by everyone.

The concept of being verifiable by everyone is crucial to blockchain.

Bitcoin uses the blockchain to record all transactions, so anyone knows the number of Bitcoins on each account.

So, as a publicly verifiable ledger, what are some use cases for blockchain?

In fact, there are many use cases that can be thought of. Blockchain is suitable for any data that can be recorded on a public ledger. Here are 4 examples:

1. Decentralized domain name server, namely domain currency. The domain name server is actually a ledger that records domain names.

2. Trustless public key encryption, such as https that discards unreliable certification authorities.

3. Ownership records, truthfully record the items and their corresponding owners.

4. Contracts and performance guarantees, the account book truthfully records the parties to the contract and saves the contract text.

But don’t forget that blockchain also has a very important component.

The ledger recorded using blockchain technology will always be updated. New data such as transactions, domain name inputs, records and contracts will be converted into hash values ​​of the same length by the hash algorithm and saved. However, hashing algorithms are not only not free but also very expensive.

Therefore, the ledger itself needs to have a recognition system to recognize the person who enters the block hash value.

In Bitcoin, this system is called mining and is rooted in the Bitcoin protocol. Bitcoin miners use a hash algorithm to convert transactions waiting for verification into hash values, and charge a certain amount of Bitcoin as a service fee.

Therefore, for non-monetary use cases, blockchain needs to find a way to bear the high cost of hashing algorithms.

I would like to remind everyone to pay attention to my answer.It mainly focuses on the use cases in which blockchain technology may be used, and does not cover all aspects of blockchain, such as why hashing algorithms are so expensive. I'm sure you can find a lot of detailed information about Bitcoin and other blockchain applications online.

Supplement

Although blockchain technology has many advantages, there are still some less than ideal use cases. For example, there is no way to convert Bitcoin into any national currency; a ledger with billions of data entries would take up space and be impractical.

Bitcoin has shown the world that blockchain technology is feasible in principle, and people are also trying to solve these increasingly prominent problems, such as technological transformation of Bitcoin or the introduction of a completely Different blockchain technologies. I think the following two methods are worth trying: one is to split the ledger according to certain standards such as the payer address, and the other is to introduce a main blockchain to verify the sub-blockchain. Blockchain technology is ever-changing and dazzling, and it’s unknown whether someone is already making such an attempt. But Bitcoin is still the world's first currency blockchain, what others call a cryptocurrency.

Whether in the technology circle or the financial circle, blockchain has become the hottest word, no one. Blockchain has core advantages such as decentralization and trustlessness, and can perfectly solve problems such as information asymmetry, high transaction costs, and trust of strangers in the development of the sharing economy, making "individual economy" possible. Based on this, blockchain technology is considered to be the core technology that has the greatest potential to trigger the fifth wave of disruptive revolution after steam engines, electricity, information and Internet technology.

In this context, a blockchain craze was born in society, and everyone praised it overwhelmingly. Dialectics tells us that everything has flaws, and only by seeing the pros and cons of things can we make rational decisions. Therefore, in this article, Xue Hongyan (Hong Yanweiyu), a senior researcher at Suning Financial Research Institute, focuses on pouring some cold water on the blockchain.

| What is Blockchain

Blockchain, English Blockchain, has a rather mysterious technological flavor in its name, and can be simply broken down into "data blocks" and "links". Each data block contains all the information exchange data of the system within a certain period of time, and is encrypted using cryptographic methods; the link means that each block has a link relationship with the next block, thus forming a blockchain.

It is generally believed that blockchain has two major characteristics: decentralization and trustlessness. A brief introduction is as follows:

Since each block contains all the information exchange data of the system within a specific period of time, Therefore, each block is equal, and the damage of a single block does not affect the security of the entire system, so the blockchain has decentralized characteristics.

Similarly, since each block contains systemAll information, so that the authenticity of the information can be cross-verified. Only by breaking through more than 51% of the nodes can the information be tampered with. In a large enough blockchain system, the cost is extremely high. It can be considered that the information in the blockchain is Real, so the blockchain has trustless characteristics.

Most people’s understanding of blockchain begins with Bitcoin. The relationship between the two is that blockchain is the underlying technology and concept, and Bitcoin is only the most popular application of blockchain at present. .

Maybe the above is not popular enough. Finally, let me summarize, what do you think the blockchain is? Is it a disruptive new technology? NO! According to Xue Hongyan (Hong Yanweiyu), a senior researcher at Suning Financial Research Institute, blockchain is not so much a new technology as it is a new ideological concept. The information encryption and other technologies included in the blockchain have been around for a long time, and it is more of a conceptual innovation. This is also the reason why the blockchain has a huge impact. New technologies will be surpassed sooner or later, ranging from one or two years to four to five years; only innovative ideas have enough energy to affect all aspects of the economy and society.

| Blockchain is expected to change the underlying rules of the financial system

In applications in the financial field, blockchain will change the transaction process and record keeping methods, thus significantly reducing transaction costs. It has significantly improved efficiency and is considered to have a broad market environment in digital currency, cross-border payment and clearing, bill trading, securities issuance and trading, property rights transactions, customer credit reporting, anti-fraud, and anti-money laundering.

Such a good technology is naturally sought after by everyone. Like many traditional financial people, Hong Yanweiyu resisted it at first, thinking that this thing was not that great, and did not do any research specifically. Later, as the research on financial technology gradually deepened, it was discovered that blockchain was an obstacle that could not be bypassed, because whether it was robo-advisory, big data risk control or online lending, they were only technological innovations at the financial business level and risk control level. It has not penetrated the bottom layer of the financial system. What is the underlying layer of the financial system? Naturally, it is payment and settlement, transaction rules and system interaction. What the blockchain changes is precisely the underlying rules.

Therefore, throughout the world, financial institutions are the most active in researching blockchain. If nothing else, they are really afraid. After the decentralization and trustless features of the blockchain are fully utilized, what else will the intermediaries of financial institutions do? It is estimated that this is also the first feeling of many people who have a preliminary understanding of blockchain.

In this article, Hong Yanweiyu focuses on pouring cold water on this view.

| Subverting the financial system, blockchain still faces two mountains

Marxist dialectics tells us that everything has two sides. The more prominent the advantages, the more obvious the flaws. It’s just the perspective. Just different. The two major problems with blockchain subverting the financial system lie precisely in the two major advantages of decentralization and trustlessness.

First, let’s talk about decentralization. Want firstTo clarify a truth, does centralization necessarily mean low efficiency? Of course not. Within a specific scope, the concentration of resources brought about by centralization can greatly improve efficiency. This is also the reason why human beings evolve from individuals to villages to tribes and then to countries in the process of evolution. Take UnionPay as an example. UnionPay is the clearing and settlement center for the domestic banking industry. After UnionPay is established, each bank only needs to connect with UnionPay to realize transactions with all banks. If it is decentralized, without UnionPay, each bank will need to When communicating with all counterparties, which one is more efficient? Therefore, there is no need to beat centralization to death with a stick. The decentralization feature of blockchain is destined to only play a role in specific fields (that is, fields that are not suitable for centralization). How can it subvert everything?

Furthermore, it is a question of trust. There is nothing wrong with detrusting itself, but the technical logic behind it is deeply flawed. Blockchain relies on universal accounting to achieve trustlessness, that is, all transaction information is retained in each block for system cross-verification to identify authenticity. Here comes the problem. Each block retains all transaction information. There is no problem on a small blockchain. However, as more and more information is added, it will inevitably lead to an explosive growth of transaction information and will also bring information. Dramatic increase in storage costs. At the same time, the greater the amount of information, the longer cross-validation takes and the lower the efficiency. Therefore, the blockchain solves the trust problem, but it brings about rising costs and declining efficiency.

Nothing in the world is perfect, and the same is true for blockchain.

As a conclusion, Hongyanweiyu wants to clarify that blockchain, as a conceptual innovation, does have great value and can also have a disruptive impact in specific fields. However, the current one-sided thinking about blockchain is problematic. Eastern wisdom tells us that "the most brilliant and the golden mean", in the face of anything, it is wisest to maintain the golden mean.

(Text/Xue Hongyan, senior researcher at Suning Financial Research Institute; WeChat public account: Hongyan Weiyu)

As early as a few years ago, the word "mining" came with Bitcoin is well known for its popularity. Many people know about Bitcoin first and then the blockchain, and they even don’t know about the blockchain yet. By definition, blockchain is a series of data blocks generated using cryptographic methods. Each data block contains information about a Bitcoin network transaction, which is used to verify the validity (anti-counterfeiting) and generation of its information. Next block.

I am not a computer technology expert. The following introduction to blockchain comes from reading and comments from expert friends and is for reference only.

If you want to use one word to explain blockchain, it is: distributed accounting.

To understand what this word means, you need to first understand that traditional accounting has a center. For example, in a bank, when you withdraw money from a bank deposit or lend money to others through the bank, the bank is the center, and all these transactions are based on the bank's credit. What ifWhat about the bank cheating? Or is it more serious, is the country cheating? The Kuomintang's indiscriminate issuance of gold yuan coupons at the end of its rule in mainland China, as well as the hyperinflation in Weimar Germany and Zimbabwe, which made the currency less valuable than toilet paper, are very famous examples.

Golden Yuan Coupons

This is the problem that blockchain is aimed at. They believe that decentralized accounting is non-modifiable and non-repudiable. How to achieve decentralized accounting? The basic idea is that all users store all transaction records, making it very difficult to illegally modify the ledger through mathematical methods. In this way, the reliability of the ledger is guaranteed.

Specifically, all users exhaustively enumerate random number variables, and the first user to obtain a specific required hash function value (Hash) will have the right to record this round of transactions and obtain the corresponding Bitcoins award. It is transmitted in the form of data blocks, and the data blocks are connected into a chain by appending at the end, so it is called a block chain.

After listening to the introduction, you may feel that this idea is interesting, but it is not as exciting or revolutionary as advertised. Your feeling is right. In fact, the basic logic of blockchain has some unavoidable problems.

For example, the current size of the complete Bitcoin public ledger has exceeded 150 G, and is rapidly increasing at a rate of tens of G per year - just to support 5 million users and 30 million transactions per year. If its processing volume is one day comparable to that of Alipay, the size of the Bitcoin ledger will increase by more than 500 terabytes per year. This is equivalent to backing up the Alipay server's storage data on all users' personal computers. Do you think this is a good idea?

For another example, in the traditional banking system, if you lose your password, it is no big deal. Just report it to the system in time, and your wealth will not disappear. But in the blockchain system, if you lose your password, it will be a huge trouble, and your currency will not be recovered. Not happy? Is it surprising?

Blockchain is a new application model of computer technologies such as distributed data storage, point-to-point transmission, consensus mechanism, and encryption algorithms. The so-called consensus mechanism is a mathematical algorithm to establish trust and obtain rights and interests between different nodes in the blockchain system

In layman’s terms, it is to play mahjong. Four people can take turns to be the banker, and each other can shoot four people. They all have their own ledger records, but if you want to modify the ledger, you must have more than 50% of the modification rights, so the cost of cheating on the ledger is very high.

In the future, blockchain will be used more in finance to combat money laundering and fraud, because all information can be traced, and in culture it can be used for copyright protection, etc.

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I have read many people’s explanations of blockchain and they are all official.Some of the language skills may not even be clear to the person explaining them. I will explain the blockchain in vernacular below to ensure that everyone can understand it.

What is blockchain? Let me give an analogy. In 50 years, you can buy an electric fan from the supermarket. This electric fan will automatically mine coins for you when it is blowing. You can mine coins automatically while using the electric fan. When you use this electric fan, When the fan breaks down, you can use the mined coins to repair the electric fan. Of course, you can also use the mined coins to buy a new electric fan. Many people think wrongly! Wouldn’t the profits of merchants be less? Let me tell you about a certain brand. When the products of this brand are sold to you, the products themselves may even be sold to you at a loss. However, once the number of users becomes large and the users become more sticky, they can be paid through membership fees or service fees. Such small fees or other ways to make profits. Just like this, the mined coins can be purchased and repaired. Although the merchant's profit may be reduced, the merchant has gained more users and greater user stickiness. By this time, it only takes a minute for the merchant to make money.

And the electric fan you bought is equivalent to winding it up for you. What is winding up? If you put your electric fan on the street now, and 10 people come to snatch it, you have no way to prove that the ownership of this electric fan is yours. Once you put it on the chain, it is equivalent to being tied to you. Once it’s settled, you can prove it.

Therefore, the essence of blockchain is to help make people’s lives more convenient. It is equivalent to upgrading on the basis of the Internet, making it safer and more convenient. This is blockchain! It's that simple.

The security of the blockchain is reflected in its irreversibility and the data cannot be tampered with. We all know that in today's society, any data can be modified and conquered by hackers, but the data in the blockchain is impossible to change. Once generated, it cannot be modified unless all users in the blockchain work together. Agree to modify the data, but this is unlikely to happen.

At present, the blockchain is still very immature, just like the Internet bubble burst in 2000. When the bubble bursts, a truly valuable blockchain Internet will be hatched. company.

The wheel of history will not go backwards. Many people are unwilling to accept blockchain. Just like telling you that you can shop online 20 years ago, this is the same ridiculous thing. Time will eventually prove it. .

1. The main function of blockchain is to store information. Any information that needs to be saved can be written to the blockchain and read from it, so it is a database.

2. Anyone can set up a server, join the blockchain network and become a node. In the world of blockchain, there is no central node. Each nodeThey are all equal and save the entire database. You can write/read data to any node, because all nodes will eventually be synchronized to ensure that the blockchain is consistent.

3. Everyone works on the same blockchain, everyone publicly shares the current state of the blockchain, everyone agrees on the rules for new data submission and tampering with the blockchain is prohibited. It is difficult to operate in terms of computing power.

If we assume that the database is a ledger, reading and writing the database is an accounting behavior:

Anyone can verify this public ledger, but there is no single The user can control it. Participants in the blockchain system will jointly maintain the update of the ledger: it can only be modified according to strict rules and consensus, and there is a very exquisite design behind this.

(1) Accounting, the system will find the person with the fastest and best accounting within a period of time, let this person do the accounting, and then broadcast the information on this page of the account book to everyone else on the entire network. node, which is equivalent to changing the database record; (consensus mechanism, cryptography)

(2) Verification, other valid nodes in the entire network check the correctness of the block accounting, and stamp the time Stamp to confirm that the block is legal; (timestamp, mathematics)

(3) Form a single chain, that is, compete for the next block after the previous legal block; (smart contract, encryption technology)

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(4) Storage, the account book is stored in blocks. As transactions increase, new data blocks will be appended to the existing chain to form a chain structure; (distributed structure, information technology) < /p>

(5) Backup, every participating trader is a node of the block network, and each node has a complete backup of the public account book, which is a distributed ledger.

Features

1. The blockchain has no administrator and is completely centerless. It is precisely because it cannot be managed that the blockchain cannot be controlled. Without an administrator, everyone can write data into it. In order to ensure the trustworthiness of the data: the technology of blockchain makes it impossible to tamper with the data once it is written.

2. Close to zero trust cost.

The cycle time required for Internet companies to build their credit is extremely long. For example, Taobao often takes several years to build its credit. In the blockchain, everyone trusts the code, algorithm and rules, so the cost of trust is extremely low.

3. The marginal cost of constructing and trading assets approaches zero.

If traditional assets are to be used for trading, they need to rely heavily on third parties, such as investment banks, banks, securities firms, etc., for packaging and endorsement, and the fees and thresholds are extremely high. With blockchain, these will not be a problem, and the cost is extremely low.

The value transfer attribute of the blockchain also naturally solves the payment problem, and has the genes to support global payments.

According to my current understanding

1. Blockchain is an outlet.

Everyone is talking about blockchain. Whether they have read it or not, whether they understand it or not, many people are forwarding blockchain articles in their circle of friends. The only new WeChat group is Blockchain related groups.

Investors are talking, entrepreneurs are talking, almost every major Internet company is talking about it, government departments are taking a stand, and tens of thousands of vertical media focusing on blockchain are quickly born.

If you don’t join any currency circle or chain circle, you will be completely out. Even the well-known investment tycoon Zhu Xiaohu was unilaterally declared to belong to the old world by the rising star Chen Weixing.

2. Blockchain represents the story of sudden wealth.

Although ICO has been stopped by the national level, the most popular word-of-mouth about blockchain is still the increase in wealth by hundreds or thousands of times. Coins that were bought for a few cents or a few dollars are now worth dozens or hundreds of dollars. Everyone is talking about value-added stories.

There are Bitcoin and Ethereum. If you download a digital currency trading platform APP, the various currency codes composed of densely packed letters will feel like a stock exchange.

3. Blockchain is not only a technology, but also a belief at the conceptual level.

The basic layer, application layer, and a lot of blockchain knowledge seem to have a lot to do with the hot artificial intelligence.

Many people say that blockchain technology is mature, but applications have barely found an entrance. We can all shout loudly: Artificial Intelligence +, but if you shout "Blockchain +" now, it's not enough and you will be laughed at. The application scenarios are still being explored.

As for the previous Internet, it was an Internet of confidence. With the addition of blockchain, it became an Internet of value.

Such similar concepts are people’s good expectations for blockchain technology to solve the trust problem. If it is so easy to implement, blockchain can subvert finance, e-commerce, and many intermediaries. But why has the Internet not been subverted for so many years and real estate still relies on intermediaries?

4. Blockchain already has a history, so don’t think it is too new.

Just as many people claim that artificial intelligence is so new that it is a joke, its history can be traced back to the 1950s.

The blockchain is marked by the birth of Bitcoin, which was 10 years ago. There is also a still mysterious founder, Satoshi Nakamoto, who seems to have a Japanese name, and some say he is from the United States. From the Security Bureau, I think it can also be interpreted as "Chinese people are inherently smart", of course the latter is just a joke.

The reason why it has become so popular is because of the skyrocketing price of various digital currencies in 2017, which skyrocketed thousands of times in a few months and days. How could there be such an amazing speed in the past?

5. Blockchain is a knowledge system.

For me, whether it is a trend, whether it is a wealth game, or a technology, we cannot ignore it, otherwise we should ignore it.

I started to make two columns to understand the blockchain from the perspective of characters, stories and characters. One is "Blockchain 100 People (Industry People)" and the other is "Blockchain 100 Investors". (Viewpoint)” Learn and spread at the same time.

As for related books, of course, I will accept them all as ordered. I can only be a follower of various trends and follow suit.

The biggest mistake is not how we criticize the blockchain, but to ignore it when we see it has a huge bubble and the crowd is enthusiastic about it. Stay away from it if you think you are noble.

The only way we have left is to be willing to be students, learn, and learn again.

Literal meaning: block, chain, using a chain to connect each block.

Blockchain = distributed data storage + point-to-point transmission + consensus mechanism + encryption algorithm

What is data storage? For example, a supermarket must have a ledger to record the entry and exit of various goods and transactions. This is storage.

What is distributed storage? It is the account book of this supermarket. Every employee has a copy. Every time there is something that needs to be recorded, it will be recorded in everyone's account book in a timely manner. Distributing each ledger (storage) to countless people (places) is distributed storage. (The supermarket employees here can be understood as blocks, and the ledger is the chain)

What is point-to-point transmission? In the same supermarket, there is no yogurt at the front desk. The shopping guide reports it to his superiors, and then reports it to his superiors.... Finally, he reports it to the warehouse. The warehouse records the accounting records in the ledger, and then transfers the goods to the front desk. As for point-to-point transmission, if there is no yogurt at the front desk, the shopping guide directly tells the warehouse, and the quantity sent by the warehouse to the shopping guide is recorded in the ledger. Everyone knows how many goods the warehouse has sent to the front desk. This is point-to-point transmission. There is no intermediate link, but the accounts can be made public for everyone who holds the ledger to see.

What is consensus mechanism? The consensus mechanism mainly includes two points. In a simple summary, the minority obeys the majority and everyone is equal. Similarly, there may be high or low positions in this supermarket, but everyone’s account books are indeed the same and equal. If someone makes a false account, then this person's account must be different from other people's accounts. At this time, it depends on whose account is remembered by more people. In theory, as long as the blockchain is large enough, then there is no need to make false accounts. Limit reduction! Because of the "minority obeys the majority" mechanism, if you want to make false accounts, then the number of false accounts you need to make must be at least greater than 50% of the total! On a network, if you need to change a piece of data, you must control at least 50% of the total number of computers to succeed.

Encryption algorithm This is easy to understand, that is, when you go to the warehouse to transfer goods, the system will protect it very well.To protect your privacy, it will only record the time, place, and person with a certain number who made the yogurt, but not the time, place, and person who made the yogurt. Taken together, this is the core component of the blockchain.

Personally, I think its main function is to decentralize and protect data from being tampered with! Decentralization and data protection are actually related. A supermarket only has one ledger, and any scheduling needs to go through the person who manages the ledger. If you need to make false accounts, you only need to control the person who manages the ledger. And if that supermarket uses blockchain technology, then he will make false accounts. If this is the case, you need to control more than 50% of the people who hold the total number of accounts of that supermarket. Obviously, controlling so many people will be almost impossible as the number of holders increases.

㈣ What does blockchain bring to the metaverse?

Now, the concept of "metaverse" has become a rare bright spot in the blockchain encryption industry.

Blockchain metaverse concept projects such as Axie Infinty, My Neighbor Alice, Sandbox, and Decentraland have been greatly sought after by the market. Whether it is on-chain land bidding, crypto asset prices, or the number of active users, All have created amazing growth in this weak market.

Although many of the above-mentioned Internet applications do not strictly conform to the concept of the Metaverse, the Metaverse is not only popular in the encryption circle, but is also popular in the traditional Internet circle.

In April this year, the Metaverse Google search index soared to the highest point. Domestic and foreign game companies and capital swarmed in, jointly contributing to the explosion of the "Metaverse" market. Therefore, many people also This year is called the "First Year of the Metaverse".

At the upcoming 2021 World Blockchain Conference, there will also be a dialogue between big names about the Metaverse and NFT. At that time, Yao Dajun, deputy dean of the School of Intermedia Art at the China Academy of Art, and Guosheng Several experts, including Song Jiaji, President of the Securities Blockchain Research Institute, Tao Rongqi, founder of Metaverse Capital, will discuss the future development opportunities of Metaverse.

㈤ What exactly is blockchain

Blockchain is a new application model of computer technology such as distributed data storage, point-to-point transmission, consensus mechanism, and encryption algorithm. Simply put, blockchain is a decentralized distributed ledger database.

Blockchain is a new application model of computer technologies such as distributed data storage, point-to-point transmission, consensus mechanism, and encryption algorithms. After reading this, you may still be confused. In fact, in vernacular terms, blockchain is a decentralized distributed ledger database. The advantage of this distributed ledger is that buyers and sellers can trade directly without any intermediary. Everyone has a backup, even if your copy is lost, it will not be affected.

So what is distribution and decentralization? Get a marriage registrationLet’s give an example. In the past, when two people got married, they had to go to the Civil Affairs Bureau to go through the formalities, and then enter the information into the computer to complete the legal process. What if we use blockchain technology? As long as two people agree to get married and post a message in their circle of friends, the marriage process is completed and there is no need to go to the Civil Affairs Bureau. Your friends are common witnesses. They may be scattered around the world, but their mobile phones will help you record the information and tell others who want to know the situation.

If you want to conceal your marriage information, you used to have to modify the records on the Civil Affairs Bureau's computer, but now you have to modify the records on the mobile phones of all insiders at the same time. The more people who know about it, the less likely it is to modify it. Therefore it is an impossible task. This is distribution and decentralization.

On the network, every once in a while, a block will be generated. This block is equivalent to a network record book, which is used to record relevant information that has occurred over a period of time. Waiting for this record book When the record is full, a new record book will be generated. Once the information is recorded, all participants will be notified and everyone's record book will be updated simultaneously.

These records are eventually connected in series with each other. This is blockchain technology. Because of the use of cryptography technology, if someone wants to unilaterally tamper with the message, it will be verified through the blockchain algorithm protection mechanism. If the time point does not match and the related information does not match, other people will not update their record books. Then this information is invalid.

Therefore, compared with traditional information storage technology, blockchain technology is more secure, transparent, and information is irreversible.

Blockchain is not equal to Bitcoin, it is just an underlying technology invented to realize the digital currency of Bitcoin. Blockchain can be applied in a wider range. In addition to digital currency, it can also be applied in financial aspects such as P2P lending, global payment, micro-finance, electronic payment, remittance, etc. It can also be used in people's livelihood aspects such as intellectual property, elections, and notarization. The prospects for future development are huge.

㈥ What is the relationship between blockchain and cryptocurrency? What is the difference between blockchain and cryptocurrency?

What is the difference between blockchain and cryptocurrency? Many people are wondering about the difference between blockchain and cryptocurrency. I have heard about blockchain and cryptocurrency in the circle. Many people are confused about the relationship between the two, or they don’t know the relationship between blockchain and cryptocurrency. Let’s take a look at it with the editor. I hope this article can help your turn.
What is Blockchain
Blockchain is a platform that allows cryptocurrencies to function. Blockchain is a technology used as a distributed ledger that constitutes a network, creating a means of transactions and enabling In order to transfer value and information, blockchain is a technology. Blockchain is a distributed ledger technology. Each block package includes information and data that are bundled together and verified. After verification, it is connected to the previous The transactions and information in the block are connected.
What is Cryptocurrency
Cryptocurrency is what these networks useIn terms of tokens that send value and payments for these transactions, compared to blockchain, cryptocurrencies are related to the use of tokens based on distributed ledger technology. You can think of cryptocurrencies as a tool in the blockchain. , in some cases it can be used as a resource or practical program function, and in other cases it can be used as the value of digital assets.
The difference between blockchain and cryptocurrency
Blockchain is a basic technology, of which cryptocurrency is part of the ecosystem. Generally, encryption is required to conduct transactions on the blockchain. They need to develop together and go hand in hand. , without blockchain, we would have no way to record shipments and transfers of these transactions.

㈦ What is NFT

NFT is called a non-fungible token.

nft is actually an application in the blockchain system, because data can be recorded on the blockchain, and because the data can be tamper-proof and irreversible, it is written on the blockchain Things are extremely secure, and because the blockchain is public, everyone can see it.

When something is recorded on it, everyone can see that it belongs to you, such as an avatar, a song, or a ticket, which can be converted into a blockchain The data on it is unique in the world, and because of the characteristics of the blockchain, no one can change his ownership. When you plan to sell it to someone else, record it on the chain. At this time, the ownership changes, and the person who buys it can trace the source and know where he bought it from. In this way, buyers will not buy imitations, and creators can maximize their own interests without middlemen making the difference.

You can imagine that Michael Jordan walked to the scene where Russell won the last championship of his career. If Danxinguo converts this video to nft and you buy it, then this video The owner of the video belongs to you. It is a picture in the minds of basketball fans all over the world, but the owner of this moment belongs to you. What a cool thing this is. Maybe one day Mr. Qiao wants to post it on Moments to remember this moment, but that requires your authorization.

In the future, everything can be nftized, resulting in a better protection of property and intellectual property.

The full name of NFT is Non-fungible Token, and the Chinese translation is "Non-fungible Token/Irreplaceable Token". Simply put, NFT is an entry in the blockchain, and the blockchain It is a decentralized digital ledger technology similar to cryptocurrencies such as Bitcoin.

Because of its irreplaceable nature, it means that it can be used to represent unique things, such as the original Mona Lisa painting in the Wang Bai Museum, or the ownership of a piece of land.

At present, the NFT market is relatively hot, with Alipay’s Whale Explorer, Tencent’s Magic Core, etc. entering the market. But amid the carnival, NFT is deviating from its original value, and the market is currently heavily hyped.

Finally, I hope everyone can look at NFT rationally and pay attention to risks

The full name of NFT is Non-Fungible Token, which is a non-fungible token. Managing ownership of unique digital items”. Unlike traditional digital currencies such as Bitcoin and Ethereum, NFT's own characteristics make it a reliable proof of the authenticity and ownership of digital assets.

Uniqueness: NFT has metadata that is permanently saved and cannot be changed

Scarcity: developers can determine its corresponding degree of scarcity, such as quantity

Indivisibility: In most cases, NFT cannot be divided and can only be purchased as a whole

The creator, authenticity, holder, and purchase method of NFT are all clearly identified It is recorded on the blockchain, which greatly improves the convenience and security of transactions, making digital art collection the most popular area in NFT.

㈧ The J-curve of cryptocurrency will give you an in-depth understanding of the encryption industry

What is the J-curve?

The "J-curve" is a chart involving various fields from economics to private equity to political science. It can even be used to analyze a country's degree of stability and openness.

The J-curve can also be applied to the crypto-asset investment process as a means of identifying potentially undervalued cryptocurrencies that have the ability to deliver huge returns.

The three stages of the J-curve

Let me introduce it to you using the chart below, which is divided into three stages:

Stage 1: ICO (Initial Coin Offering) Initial Coin Offering

Cryptocurrencies enter the market with the purpose of raising funds quickly, and are usually accompanied by a lot of publicity. There will be a lot of hype along the way and maybe some celebrities involved. Generally speaking, short-term speculators will buy large amounts of tokens when they are released.

But first-stage tokens usually have no utility. Typically, these tokens are launched on the Ethereum blockchain. But the underlying value proposition or product for which the company is raising capital has yet to be established.

As a result, we often see short-term spikes in speculation followed by corrections.

Phase 2: Downturn

Geographically speaking, the "downturn" describes parts of the Atlantic and Pacific Oceans affected by low pressure around the equator. Although these areas can experience high winds and thunderstorms, there are often long, calm periods that last for several consecutive days.There is no wind this week.

This usually happens in the second phase.

The initial ICO and post-ICO hype and media coverage has largely died down. Speculators tend to come in and out, while developers are hard at work, debugging and developing, with each project taking months or even a year to go live.

What can be seen is that the price reflects the lack of interest from speculators and there is not much "noise" in the market. In the second stage, everything is still quiet.

Berry Research believes that: From the analysis of the J curve, for investors, the second stage is an ideal time to enter the market and hold.

Phase 3: Energy Launch

As time passes, crypto projects will get closer to reaching key milestones and launching a cryptocurrency (whether it is a currency, protocol or enterprise). As we start to get closer to the space, we will see renewed interest in the project and prices will reflect that.

There’s a big difference between buying a project’s tokens in a week instead of six months.

I hope it is clear to the reader at which stage we want to hold cryptocurrencies: Stage 2, when a project starts to gain traction. Because in the second stage it was not loved by most speculators, it did not appear overwhelmingly in the news and blogs, and there was not much to report.

This is when we are very close to a profitable project and we are looking for regular development updates and reassurance that the team is hitting its milestones. Determine if they are ahead or behind schedule? Are they building a team or are developers planning to leave?

These J-Curve trades provide us with the best odds of finding huge returns.

J-Curve Means Potential Opportunity Trading

From time to time we will find rare opportunities to quickly get into crypto assets and not have to wait for monthly publications or even weekly updates.

These trades are often event-driven: for example, when something happens in the market that causes a huge correction and creates a huge buying opportunity.

Other opportunistic trades will be due to potential upside catalysts for specific crypto assets: such as major partner announcements or major exchanges listing tokens (which typically drive more trading volume into a specific token upon listing). currency).

Cryptocurrency Complexity Levels

Some cryptocurrencies are easier to buy and store than others.

For example, Bitcoin can be purchased on crypto exchanges (exchanges that allow you to trade cryptocurrencies with US dollars). Additional cryptocurrencies can be purchased and stored in integrated exchange wallets (also known as "multi-asset wallets"). These are easy-to-use wallets that allow you to store and exchange in the same placeExchange for dozens of different cryptocurrencies (see our guides on cryptocurrency exchanges and cryptocurrency wallets for more information).

However, some cryptocurrencies can only be purchased on specific cryptocurrency exchanges, which require the use of your own wallet for safe storage.

In the crypto space where things are moving so fast, perfect classification is impossible, but our "Complexity Levels" are designed to give you an idea of ​​how difficult it is to buy and store crypto.

In addition to the J-curve, there are other relevant technical indicators that can predict the development trend of cryptocurrency, such as the S-curve. Berry Research once released "Bitcoin's S-Curve is Far Sexier than You Think", which analyzed the S-curve and provided an in-depth analysis of Bitcoin's long-term development trend.

Want to know how we divide the complexity of cryptocurrencies? Want to learn how we solve and manage complex cryptocurrency puzzles? Berry will release more content on cryptocurrency investment opportunities in the future, allowing you to grasp the industry trends in real time and gain an in-depth understanding of the crypto community!

Berry Research Analyst: Eric Wade

Compiled by: Lois Li

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㈨ How to exchange bxen coins for xen coins

What exactly is the XEN Crypto that someone made for $200,000 a day?

Chuxiao Chain
October 12, 2022 15:19 Jiangsu

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There is a project XEN Crypto that is very popular in the encryption circle these days , Chuxiaolian tries to introduce what XEN is.
XEN was launched on the Ethereum network on October 9. It is a PoP (Proof of Participation) model and a virtual mining project jointly built by the whole people.
The founder is Jack Levin, former Google employee No. 21, no pre-minting, no administrator keys, immutable contracts, starting from zero supply, 100% transparent and on-chain.
There is no threshold for participating in the project. Any player can receive it by linking their wallet and paying a small amount of gas fee. After minting, they can choose to stake for 1 day or more. The length of the pledge time determines the amount of XEN harvested.
The pledge must be collected in time when it expires, otherwise the amount of XEN will gradually decrease, with only 1% remaining after 7 days.
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The current total supply of XEN on the ETH network exceeds 10 billion
On the second day after XEN went online, someone created LP liquidity for XEN/ETH, and XEN began to have a price.
From the initial 0.005U on the line, it rose to 0.01 US dollars in a short period of time and then continued to fall. The current price is 0.00016.
It is said that someone was the firstOne day, 1,000 addresses were minted, and the next day they were collected and sold. On average, each wallet earned 200 U.S. dollars, which amounted to 200,000 U.S. dollars in one day.
There are people watching the fun, while others are making a lot of money.
For a wallet that is pledged for one day, the income from the initial few hundred dollars will be reduced to 8 dollars. After deducting the gas fees for casting, receiving, and trading, it is no longer worth participating in the short term.
If you also want to participate in social experiments, you can choose a longer time period to see if there are any new stories in the future.
After all, such universal participation may really bring about new experiences and unexpected gains.
The income from staking for one day is no longer enough for GAS fees
XEN has planned to deploy on multiple chains.
Currently, the BSC network is online, and within 8 hours, more than 1.5 million wallet addresses have been minted.
Players have moved the gameplay on the ETH network to the BSC chain. The XEN that is pledged to expire tomorrow does not know whether it will have a new wealth effect, or it will directly return to zero.
In the future, XEN will also be launched on Avalanche, Polygon/MATIC, Arbitrum, Optimism, Cronos, Fantom and other networks.
XEN on different networks cannot be exchanged in equal proportions, but can be converted according to a certain proportion and cross-chain.
The number of XEN minting addresses on the BSC network is over 1.5 million
The popularity comes and goes quickly.
XEN has been online for 4 days and has already gone through a bull and bear cycle.
The XEN received on the second day can be sold for more than 600 at the first time, and then it drops rapidly. After 6 hours, it is only 80 dollars. By the third day, there are only 8 dollars left, which is no longer enough for gas fees. .
As the wealth effect disappears, fewer and fewer people participate in the short term.
Of course, there are also players who have been staking for 100 days, 200 days, 300 days and so on for longer periods of time. I wonder if it will still be popular at that time or no one will care about it.
The XEN project has burned 4,076 ETH
The founder of the project, Jack Levin, is a serial entrepreneur who started many projects after leaving Google.
I started to be exposed to Bitcoin for peer-to-peer payment in 2010, and started mining Bitcoin in 2011.
However, he believed that the POW mining method was a waste of electricity and that proof-of-work was an outdated method. He hoped to explore blockchain through other methods and launched the XEN attempt.
XEN is a token provided free of charge by the blockchain. It is based on self-hosting, trustless consensus and decentralization, and is accessible to all people.
No pre-minting, no centralized ownership, no control, open source smart contracts.
Everyone has equal opportunities in front of XEN. As time goes by and consensus grows, XEN may play a more important role.
Of course, all thisTime will tell. Whether to create a better experience or try to return to zero is still uncertain.
Picture
At first, someone pledged and earned $668 in one day
In the crypto world, any innovative gameplay is likely to be spread out of the circle.
From BTC, ETH, to DOGE, SHIB, etc., as well as PEOPLE, XEN, every new attempt is a national carnival, constantly refreshing the gameplay and bringing new experiences.
If you also have good ideas, the encryption world is an excellent experimental platform.
The above is just my personal opinion, no investment advice.
I am Chuxiaolian, and I am paying attention to the metaverse and web3.