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⑴ How does Bytom allow multiple assets to circulate on the public chain platform!
The Internet has "bititized" two major symbols of human civilization - text and currency. However, the copyright is still unclear and vulnerable to attack. Information exchange and wealth circulation still rely heavily on centralized organizations, such as Credit granting and credit reporting services.
The underlying logic of Blockchain is to store information in a joint competitive accounting method. Each page of the encrypted ledger is equivalent to a "block", and the transaction review results are stamped with indisputable Tampered timestamps are stored throughout the entire network. This "distributed ledger technology" brings equity ownership and mutual trust among strangers, and brings the dawn of free trading of assets.
As the underlying technology of Bitcoin, why has blockchain become the biggest hit in financial technology? As of June 18, 1 Bitcoin is equivalent to approximately 18,750 yuan, the total market value of global digital assets has exceeded 110 billion US dollars, the types of digital assets have reached 4,321, and there are more than 40 digital currencies with a market value of 100 million US dollars; then, The free circulation between coins, between chains, between digital currencies and legal currencies, and between physical assets and bit assets has become a huge pain point. How can we build a bridge for assets to jump from the atomic world to the bit world? ? Artificial intelligence (AI) is equally hot as blockchain. What kind of sparks will the combination of the two create? This article tries to explain.
1. The blockchain industry is in full swing, and the “comparative advantages” of domestic entrepreneurs are highlighted
Blockchain was developed by Satoshi Nakamoto in 2008, when he published the foundational paper "Bitcoin: A "A Peer-to-Peer Electronic Cash System" proposed, and Bitcoin was created by Satoshi Nakamoto to reward participants for competitive accounting, mainly through "Proof of Work, POW" to "mine" and Get a bonus. "Mining" is a process of competing for consensus algorithm capabilities, which requires huge energy consumption. It is worth mentioning that the current four major Bitcoin "mining pools" in the world are mainly concentrated in southwest China and Inner Mongolia.
Any node in the public chain is open. Everyone can participate in the calculations in the blockchain, and everyone can download and obtain the complete blockchain data (all ledgers). As the blockchain itself The security level is improved. In the private chain, many nodes have access rights, and only specific permitted nodes can be publicly accessed.
The emergence of "smart contracts" is to solve the problem of converting legal currency protocols into protocols in the bit world. Smart contracts can accelerate real currency becoming "programmable currency" in the blockchain, and how to use it? Can legal currency be connected to digital currency, thereby connecting the atomic world and the bit world, and promoting the interaction and application of assets between the two worlds? We need “Bytom Chain” to solve this problem.
"Bytom Chain" is created by Babbitt, the largest developer community in the domestic blockchain industry. Compared with other single-asset blockchains, the blockchain interaction protocol of “Bytom” is more suitable for multi-bit assetsFor example, digital currency, income rights, unlisted equity, debt, etc. carry out complex interactive operations based on smart contracts.
China ranks first in the world in the amount of investment in financial technology. Blockchain is a track alongside mobile payment, insurance, etc. BAT has deployed blockchain in the past two years, and the network and Circle (cross-platform) (border payment) reached a strategic cooperation, Alibaba cooperated with Ethereum to develop a financial cloud, Tencent's WeBank provides alliance chain cloud services based on Tencent Cloud, etc. As of the end of April 2017, a total of 455 blockchain companies around the world had raised a cumulative financing amount of US$1.947 billion, and there were 61 domestic blockchain entrepreneur financing companies.
The mainstream proof-of-work mechanism (POW) in the blockchain has been criticized for its narrow application range of "hash" calculations, resulting in a huge shortage of mining machines. Idleness and energy waste; Bytom introduces matrix operations and convolution operations into the mining hash process, making mining machines more friendly to artificial intelligence ASICs. The boom in the mining machine market in the blockchain has stimulated the supply chain of ASIC chips for artificial intelligence companies. Eliminated or idle "mining machines" can also be used for AI acceleration.
Conclusion:
Although blockchain is "brain-burning", it does not affect developers' passion for exploration. This is not only the interest appeal of Bitcoin, but also the desire to truly return to the "Internet of Value" that is free, open, and collaborative. Just as Don Tapscott, the father of the digital economy, compared blockchain technology to the "Aladdin's magic lamp" that opens up a well-off society for mankind, with the opening up of public chain platforms for various currencies, chain areas and traditional financial asset transactions, was born, the bitification of multi-asset is gradually becoming a reality, and can provide open big data, controllable smart contracts, mining machine acceleration for artificial intelligence, the era of currency and free assets predicted by Hayek, and the era of people's investment and Trading assets in the future will be as convenient as online shopping today, and it must be based on the win-win and mutual promotion of artificial intelligence and blockchain technology.
Author: Li Xing, reliable A Xing, technology columnist
⑵ What are some professional terms in the currency circle
26 Explanation of common terms in the blockchain industry1. Blockchain——Blockchain
Blockchain is a new application of computer technologies such as distributed data storage, point-to-point transmission, consensus mechanism, and encryption algorithm. model. is a shared distributed ledger where transactions are permanently recorded through appended blocks.
2. Block——Block
In the Bitcoin network, data will be permanently recorded in the form of files. We call these files blocks. A block is a set of records of some or all of the latest Bitcoin transactions that have not been recorded by other previous blocks.
3. Node - A copy of the ledger operated by participants in the blockchain network.
4. Decentralization
Decentralization is a phenomenon or structure that must exist in a system with many nodes or in a system with many individuals.can only appear or exist in a group. The influence between nodes will form a non-linear causal relationship through the network.
5. Consensus mechanism
The consensus mechanism is to complete the verification and confirmation of transactions in a very short time through the voting of special nodes; for a transaction, if the interests are irrelevant If several nodes can reach a consensus, we can think that the entire network can also reach a consensus on this.
6. Pow - Proof of Work
Proof of Work refers to how much currency you get, depending on the workload you contribute to mining. The better the computer performance, the more money will be allocated to you. There will be more mines.
7. PoS - Proof of Stake
Proof of Stake, a system of interest distribution based on the amount and time of currency you hold. In POS mode, your "mining" The income is proportional to your currency age and has nothing to do with the computing performance of your computer.
8. Smart Contract
Smart contract is a computer protocol designed to spread, verify or execute contracts in an information-based manner. Smart contracts allow trusted transactions to be made without third parties, which are traceable and irreversible.
9. Timestamp
Timestamp refers to a string or encoded information used to identify the recorded time and date. The international standard is ISO 8601.
10. Turing completeness
Turing completeness refers to the ability of a machine to perform any calculation that any other programmable computer can perform.
11. Dapp - decentralized application
It is an open source application that runs automatically and stores its data on the blockchain in the form of cryptocurrency tokens. Form incentives and operate with a protocol that displays proof of value.
12. DAO - Decentralized Autonomous Organization
It can be thought of as a company that operates without any human intervention and hands all forms of control to a set of uncontrollable entities. Broken business rules.
13. PrivateKey - Private Key
A private key is a string of data that allows you to access a token in a specific wallet. They, as cryptocurrencies, are hidden except from the owner of the address.
14. PublicKey——Public key
It appears in pairs with the private key. The public key can calculate the address of the currency, so it can be used as a certificate for owning the address of the currency.
15. Mining machine
A computing device or software that attempts to create blocks and add them to the blockchain. In a blockchain network, when a new valid block is created, the system will generally automatically give the block creator (mining machine) a certain number of tokens as a reward.
16. Mining pool
It is a fully automatic mining platform that allows miners to contribute their own computing power to mine together to create blocks and obtain block rewards. And distribute profits according to the proportion of computing power contribution (i.e.The mining machine is connected to the mining pool - provides computing power - and obtains benefits).
17. Public chain
A completely open blockchain refers to a fully open blockchain that can be read by anyone, anyone can send transactions, and transactions can be effectively confirmed. People around the world can participate in system maintenance, and anyone can read and write data through transactions or mining.
18. Private chain
A blockchain where write permission is only for a certain organization or a specific few objects. Read permissions can be open to the outside world, or restricted to any degree.
19. Alliance chain
The consensus mechanism is a blockchain jointly controlled by a number of designated institutions.
20. Sidechains
Pegged sidechains technology will enable the transfer of Bitcoin and other digital assets between multiple blockchains. This This means that users can access the new cryptocurrency system while using their existing assets.
21. Cross-chain technology
Cross-chain technology can be understood as a bridge connecting various blockchains. Its main application is to realize Atom transactions, asset conversion, and partitioning between blockchains. Information exchange within the blockchain, or solving Oracle problems, etc.
22. Hard fork
The blockchain has a permanent divergence. After the new consensus rules are released, some nodes that have not been upgraded cannot verify the blocks produced by the upgraded nodes. Usually a hard fork happens.
23. Soft fork
When the new consensus rules are released, nodes that have not been upgraded will produce illegal blocks because they do not know the new consensus rules, which will cause Temporary forks.
24. Hash——Hash value
Generally translated as "hash", there are also direct transliterations as "hash". Simply put, it is a function that compresses a message of any length into a message digest of a fixed length.
25. Main chain
The term main chain comes from the main network (relative to the test network), which is an independent blockchain network that is officially online.
For those who don’t understand the “jargon” of the currency circle, come and learn it quickly:
1. What is legal currency?
Legal currency is legal tender, issued by the country and the government, and is only guaranteed by government credit, such as RMB, US dollars, etc.
2. What is token?
Token, usually translated as pass. Token is one of the important concepts in the blockchain. It is more commonly known as "token", but in the eyes of professional "chain circle" people, its more accurate translation is "pass", which represents the area. A proof of stake on the blockchain, not a currency.
The three elements of Token
The first is digital proof of rights and interests. The token must be a certificate of rights and interests in digital form, representing a right and an inherent and intrinsic value;
The second is cryptocurrency,The authenticity, tamper resistance, privacy protection and other capabilities of the token are guaranteed by cryptography;
The third is that it can flow in a network and can be verified anytime and anywhere.
3. What is position building?
Building a position in the currency circle is also called opening a position, which refers to a trader’s new purchase or sale of a certain amount of digital currency.
4. What is stud?
Cryptocurrency stud means investing all the principal.
5. What is an airdrop?
Airdrops are currently a very popular cryptocurrency marketing method. In order to provide potential investors and people who are passionate about cryptocurrency with information about the token, the token team will conduct frequent airdrops.
6. What is lock-up?
Lock position generally means that after investors buy and sell contracts, when the market trend is opposite to their own operations, they open a new position opposite to their original position. Its name is Butterfly Flying Double.
7. What is candy?
Cryptocurrency candies are digital coins that are distributed to users for free when various digital currencies are first issued during ICO. They are a kind of momentum and publicity for the project itself by the issuer of the virtual currency project.
8. What is a break?
Break refers to falling below, and hair refers to the issuance price of digital currency. A currency circle break means that a certain digital currency falls below the issuance price.
9. What is private equity?
Cryptocurrency private placement is a way to invest in cryptocurrency projects, and it is also the best way for cryptocurrency project founders to raise funds for platform operations.
10. How do you look at the K-line chart?
K-line charts (Candlestick Charts) are also called candle charts, Japanese lines, yin-yang lines, stick lines, red and black lines, etc. The commonly used term is "K-line". It is plotted as the opening, high, low and closing prices for each analysis period.
11. What is hedging?
Generally, hedging is to conduct two transactions at the same time that are related to the market, opposite in direction, of equal quantity, and with profits and losses offsetting. In the futures contract market, buy positions of the same quantity but in different directions. When the direction is determined, close the position in the opposite direction and retain the positive direction to gain profits.
12. What is a position?
Position is a market agreement that commits to buying and selling the initial position of a contract. Those who buy the contract are long and are in a position to expect an increase; those who sell the contract are short and are in a position to expect a decrease.
13. What are the benefits?
Good news: It refers to news that a currency has received mainstream media attention, or that a certain technology application has made breakthrough progress, which is conducive to stimulating price increases. This is called good news.
14. What are the disadvantages?
Bad news: news that causes currency prices to fall, such as Bitcoin technical problems, central bank suppression, etc.
15. What is rebound?
The price adjustment phenomenon in which currency prices rebound due to falling too fast in a downward trend. The recovery is smaller than the decline.
16. What is leverage?
Leveraged trading, as the name suggests, is to use small amounts of funds to invest several times the original amount, in the hope of obtaining multiple returns or losses relative to the fluctuations in the investment target.
⑶ The founder of the atom currency is from Russia
Are you asking which country the founder of the atom currency is from? Korean.
ATOM coin founder Jae Kwon was born in South Korea.
The Chinese name of ATOM coin is Astro Boy coin. The full English name of ATOM coin is Cosmos. The Cosmos project is a highly forward-looking and innovative blockchain cross-chain project launched by the Tendermint team in 2016. The total amount of atom coins is 236,355,290. At present, atom has been launched on the two major trading platforms of Biter and Huobi.
⑷ [Blockchain] What is Bystack launched by Bytom
Before introducing Bystack, let’s briefly introduce Bytom, which is one of the three major domestic public chains. , referred to as Bytom, consists of the abbreviation of Byte + Atom. Byte means the digital world; Atom means the physical world; Bytom means the bridge between the digital world and the atomic world.
The atomic world is not the atomic world written in science fiction novels. Here we can understand it as atomic assets, that is, warrants, equity, dividends, bonds, intelligence information, forecast information, stocks, etc. that correspond to the traditional physical world. Financial derivatives.
The biggest feature of Bytom is that it is a dedicated blockchain platform focusing on the asset field and has its own unique business model.
Simply put, the purpose of Bytom is to connect the bit world and the atomic world, and build a decentralized network for the registration and circulation of diversified assets.
To sum it up in one sentence, it is: It is a multi-asset interactive protocol used to connect the digital world and the atomic world, and link online and offline.
Bystack is the BUTXO model BaaS platform with one main chain and multiple side chains pioneered by the Bytom team. It is also Bytom’s biggest strategy this year and its flagship product in the next 20 years.
Chang Chai (founder of Bytom) once said: Bystack is Bytom’s business solution. Bytom is equivalent to a bare engine. Bystack is a car. Bystack is not a side chain, but a BaaS platform that integrates main and side chains. It is Bytom+Vapor+other components.
1. Bystack’s technical architecture
Bystack is a general blockchain application stack platform that inherits and implements the three-layer blockchain architecture, consisting ofIt consists of Bytom main chain, Vapor side chain, Blockcenter middle platform, and access components such as Bycoin, Byone, and Bystore.
Relying on the Bytom public blockchain technology platform and Vapor side chain technology, and using Federation as the interactive protocol between the main chain and the side chain, it provides a channel for value transmission and lays a solid foundation for upper-layer applications. .
Blockcenter, as the core system of the entire blockchain enterprise-level service platform, on the one hand expands the capabilities of the underlying main and side chains, on the other hand abstracts the underlying blockchain technology and provides a typical application development framework. Also provides the necessary capabilities for maintenance, monitoring and upgrades.
2. Bystack node election
Bystack side chain node election includes four roles: side chain initiator, relay node, consensus node and voting principal.
Side chain initiator: It is the first side chain on the Bytom chain initiated by the Bytom Foundation;
Relay node: It is designated by the side chain initiator, mainly It is to protect the security of assets on the side chain. The technical threshold is relatively high. There is no open election this time;
Consensus node: It is divided into formal consensus node and alternative consensus node. The formal consensus node is responsible for producing blocks; The formal consensus node exits, and the alternative consensus nodes are promoted to consensus nodes according to the number of votes;
Voting principal: Anyone holding any amount of BTM (coin holders) is a voting principal and can participate in Bystack through voting Consensus node election and receive dividend rewards.
This time Bystack will recruit 10 formal consensus nodes and 32 alternative consensus nodes. The annual mortgage income of the formal nodes is expected to be 10%-60%. In the first year of node operation, the Bytom Foundation will use 10 million BTM as block rewards for official nodes (reward ratio is 60.98%) and alternative nodes (reward ratio is 39.02%).
The threshold for this node election is 1 million BTM holders. If you do not have 1 million BTM holders, there are two ways to participate: one is to recruit a few friends to make up 1 million BTM, and then participate in the node election ; The second is to vote for the promising nodes with the BTM you currently hold, and then receive dividends. The dividend rewards are set by the nodes themselves.
Voting will open on July 5th. At that time, Bytom will provide an APP to facilitate voting delegates to participate. The voting rules are one vote, one vote. After voting, BTM will be locked. It will take 20 days to unlock. You can continue voting later.
The Bystack node election time plan is as follows:
For details of the Bystack node recruitment plan, please click: https://www.8btc.com/article/421230
3. What is the difference between Bystack and the BaaS platforms of IBM, Microsoft Azure and Amazon AWS?
Different architectures: At present, most BaaS are based on alliance chains, private chains, and some are based on Ethereum, which are neither independent nor controllable. Bystack is the first BaaS with a single-master multi-side architecture, which is autonomous and controllable. It is difficult for a single public chain or a single alliance chain solution to meet specific business needs.
For example, certain business scenarios require irreversibility of transactions and non-tamperability of data, which cannot be achieved by the alliance chain. Certain scenarios have very high requirements for transaction speed and TPS, and the enterprise version of public chains such as Ethereum cannot meet these requirements.
The implementation scenarios are different: The current implementation directions of other BaaS are mostly non-mainstream business fields such as certificate depository, public welfare, charity, traceability, etc. After all, blockchain is a subversion of traditional business logic and technical logic. They are For those who are successful on the Internet, the success of the Internet is the disadvantage of blockchain.
For example, they cannot decentralize data, computing, or account identities. Therefore, there is a paradox of self-subversion when traditional giants do blockchain. Although the Bystack white paper lists more than a dozen business application scenarios, the focus will be on one or two scenarios with a market potential of hundreds of billions.
⑸ Introduction of Atom processor
The new generation of mobile network device platform (MID, Mobile Internet Device) is a very popular mobile product recently. It is lightweight and portable and convenient for daily office work. As the volume decreases, heat dissipation of the product is an issue that needs to be considered. As a processor that generates a lot of heat, it certainly needs technological innovation to ensure it. Intel released a new low-power processor family in early March 2008, named Atom. The Intel Atom processor is the smallest and least power-consuming processor in Intel's history. Atom is based on a new microprocessor architecture and is specially designed for small devices. It aims to reduce product power consumption while maintaining compatibility with the Core 2 Duo instruction set. The product also supports multi-threaded processing. All of this is integrated on a chip with an area of less than 25 square millimeters and contains 47 million transistors. The area of 11 chips of this size is equal to the area of a penny. Atom is manufactured based on 45nm process and hi-k technology. The thermal design power consumption of the product is between 0.6 watts and 2.5 watts, but the processor frequency can reach 1.8GHz. The thermal design power consumption of the current mainstream Core 2 Duo processors is also 25 watts to 35 watts. Intel launched Atom based on its understanding of the market. As for the entire platform corresponding to the Atom processor, Intel calls it "Intel Rapid"Intel Centrino Atom Processor Technology" (Intel Centrino Atom Processor Technology), this platform was previously known as "Menlow". Like Centrino, Intel also gave the Atom processor a nice Chinese name, called "Atom" ". The matching Menlow platform was renamed "Centrino Atom". Atom's advantages are more obvious in mobile platforms, but Atom still has a very large competitive advantage in desktop products. At the same time, based on The integration platform of Intel's own chipset is also a very ideal choice.
