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A. The underlying technology of digital currency
In a nutshell, the underlying technology of digital currency is blockchain technology, which is essentially an electronic system based on cryptographic algorithms. contract. Whether it is the consensus algorithm, fault-tolerant algorithm, encryption technology, transmission technology, and storage technology that form the core of blockchain technology, they are all built on a complete cryptography foundation, not engineering technology. For this reason, blockchain technology does not rely heavily on physical infrastructure. In the most extreme cases, a simple blockchain network can even be built with the help of simple radio technology. In a broad sense, Bitcoin is only a specific implementation form of blockchain technology. As long as it has the core elements of decentralization, network-wide consensus, anti-tampering, and traceability, it can be regarded as a blockchain technology concept. extension.
B. What is Blockchain
In the simplest terms, blockchain is a distributed ledger.
To understand what this means, we first have to look at its opposite: a centralized ledger. Because blockchain technology started with finance, we will also introduce it below using banks as an example.
The following is our process for using bank debit card transactions:
You can swipe your card to purchase goods in stores.
The merchant sends a statement to your bank for the agreed upon amount.
Your bank will verify that you may have authorized the purchase.
The bank sends the money to the merchant.
Finally, the bank records this information in its ledger.
There’s a lot of technology involved here, but that’s basically it. The last step is important - the bank records all transactions made by the customer. This ledger goes all the way back to the first transaction the bank made.
This ledger is kept, maintained and regulated by the bank. You can read it in your online bank account, but you can't change it. The bank has complete control. If it decides to make a change, there's nothing you can do about it.
Crucially, if hackers were able to access a bank’s ledger, that could cause a lot of problems. They can change the account balance to make it look like certain transactions never occurred, etc.
This is why distributed ledgers are so cool.
Blockchain Network Visualization
If a bank operates on a distributed ledger, each member of the bank will have a copy of the ledger, and whenever any member of the bank When they make a purchase, they tell every other member of the bank.
Each member will validate the transaction and add it to the ledger (the added records are called "blocks"). This has some important benefits, as there is no centralized authority that can manipulate records. Hackers accessing a ledger wouldn't be a big problem because itsOther ledgers can easily verify it.
On the other hand, it requires a lot of work. In short, the second system is blockchain (at least in financial scenarios).
As mentioned above, blockchain is a decentralized list of transactions. If I send Xiao Ming 2 Bitcoins, I send a message to everyone in the network saying "I am sending Xiao Ming 2 Bitcoins" and they all record the transaction.
The future of blockchain, how will it change our lives?
One thing that is important about blockchain is that it is a public resource and no one really owns it because everyone owns it.
Blockchain is not just science fiction. We don’t need to understand the mechanism behind this technology, but you do need to understand that it may completely change our lives in the next 20 years.
This may sound bold, but remember, 20 years ago we were browsing the Internet on Netscape, using state-of-the-art Motorola flip phones, and buying our first DVD players. At that time, if we imagined that a computer could be held in our hands and that we could buy cars, make payments, and watch movies, it would have been considered a fantasy.
Although the impact of blockchain may not be as obvious as the Internet, nor as tangible as mobile phones, blockchain will effectively solve many worries in daily life. Such as intermediaries cheating people, transaction delays, etc. In our current lives, middlemen are everywhere and we take them for granted as a part of life. If one day these intermediaries cease to exist, you will find that the world will become a different place.
Imagine that by 2040, blockchain may become a mature and widely used technology. When one day you can't live without the blockchain just like you can't live without the Internet now, you will be surprised to find that this decentralized accounting technology has simplified the complexity and become a part of your lifestyle
C. What is the current underlying infrastructure of the blockchain?
There are currently very few underlying infrastructures of the blockchain, but Thinkey is one of them
D. "Blockchain "What kind of technology is it?
What kind of technology is "blockchain"? Blockchain is an important concept of Bitcoin. Huobi cooperates with Tsinghua University PBC School of Finance in the Internet Finance Experiment The "2014-2016 Global Bitcoin Development Research Report" released by the Office and Sina Technology mentioned that blockchain is the underlying technology and infrastructure of Bitcoin. It is essentially a decentralized database and serves as the underlying technology of Bitcoin. Blockchain is a series of data blocks generated using cryptographic methods. Each data block contains information about a Bitcoin network transaction and is used to verify the validity of the information (anti-counterfeiting) and generate the next block. .
Narrow senseGenerally speaking, blockchain is a chained data structure that combines data blocks in a sequential manner in chronological order, and is a cryptographically guaranteed distributed ledger that cannot be tampered with or forged. Broadly speaking, blockchain technology uses block chain data structures to verify and store data, uses distributed node consensus algorithms to generate and update data, uses cryptography to ensure the security of data transmission and access, and utilizes automated Smart contracts are composed of scripts that program and compute data in a new decentralized infrastructure and normalize computing.
Domestic blockchain application platforms include an asset custody system based on blockchain technology jointly developed by the digital currency crowdfunding platform Biying China, China Post and IBM.
Blockchain is a decentralized, distributed ledger system participated by nodes. The data stored on it cannot be forged or tampered with, and is open to the public. Transparent, the information and value recorded by each account at any point in history can be found on the blockchain. The characteristics of the blockchain protocol provide the necessary foundation for the execution of smart contracts. The contract can be automatically executed and trusted according to established conditions without the need for auditing by any centralized organization.
Blockchain technology is the underlying core of the Bitcoin system. Its essence is a decentralized ledger. When people conduct transactions through the Internet, a new transaction will be recorded on the ledger, and this ledger is A decentralized ledger is jointly maintained by everyone on the network. People can see ongoing transactions at the same time, and control is not in the hands of institutions or individuals. Transactions cannot be tampered with or forged, and they will be permanently stored in the ledger.
For example, the Tongxin Huzhu blockchain mutual aid platform has four major characteristics in applying blockchain technology:
Openness and transparency
Openness and transparency, once all information recorded on the blockchain is recorded, it will be very It is difficult to tamper with and cannot be hidden, and users can check it at any time.
Democratic decision-making
Bottom-up decision-making, the blockchain proposes a variety of different consensus mechanisms to help users effectively form bottom-up decisions and jointly participate in major decisions.
Accurate execution of rules
Accurate execution of rules. The smart contract technology defined on the blockchain converts all rules into public and clear codes, which can be executed accurately and accurately. Once anyone is identified Cannot intervene.
Never downtime
Never downtime, the blockchain based on the public chain is not affected by any organization or individual. As long as the incentive mechanism is effective and the Internet exists, the blockchain will exist.
What is blockchain? Blockchain is a decentralized shared accounting technology that allows all parties involved to establish a trusting relationship at the technical level. Blockchain can be roughly divided into two levels: one is the underlying technology of blockchain;It is the upper-layer application of blockchain, that is, the transformation, optimization or innovative application based on blockchain. Blockchain is still in its infancy. Many people have discussed with me how we can ensure both rights and privacy at the same time. Of course, we are just exploring now. We need fair content across the entire network and clear protection. This is what I can only say. So far, this is my arrangement for the future.
Blockchain concept? The idea of blockchain is to be completely decentralized and rely on decentralized justice. In that case, theoretically the cost will drop a lot, proving that real assets and property rights can directly correspond to each other on the Internet. It has solved the problems of decentralization and asset ownership that were not solved by the first generation of Internet information. How big a role does big data play in financial innovation now? Only by registering big data can we know who it belongs to. In fact, this has always been a problem that we cannot solve now. This is not a small problem. If there is a technology in the capital market that makes the property rights of things that were originally unclear clear, that will be a big problem for us. The entire market is undergoing a huge transformation.
What is blockchain? Blockchain technology itself can solve data ownership, pricing and sharing mechanisms. This still cannot completely solve certain problems. To give a simple example when it comes to user privacy, I have a piece of data placed on the machine. The partner comes over and makes an insurance analysis to analyze the cooperation. There is a risk here. Or not, can we deal with it or clarify the property rights of the laboratory, and then clarify the processing rights and data rights. The common products produced by everyone are common to everyone. If we need to divide different things, how to price them and how to divide them? In addition to the technology of blockchain and a decentralized database, when it comes to the above mentioned tasks, it is another issue, and then there is the issue of pricing and the market mechanism. All fields have proven to recognize this rule, so this I think blockchain is a very good core technology, but it cannot cover all problems.
Introduction to Bubi Blockchain
Bubi Blockchain is mainly positioned to provide commercial-grade blockchain infrastructure services, which mainly includes building a blockchain system and building on top of the blockchain system. A support system with high expandability. On top of this support system are applications from all walks of life. Bubi focuses more on the underlying technology of the blockchain. In the past three years or so, a team of more than a dozen people has devoted almost all their energy to the research and development of the underlying technology. The reason why Bubi Blockchain chooses points has something to do with the market's promotion method. As we all know, blockchain is a technology that is very suitable for the issuance and trading of digital assets. Points are a digital asset that is naturally legal and compliant, and has a small impact because of its small amount. Therefore, it is a very suitable choice to use points as your first attempt at digital asset issuance. Issuing points based on the blockchain can indeed bring great help to the circulation and mutual exchange of points.
What is blockchain? The application of blockchain technology in the field of property transfer is only one aspect. In addition to reducing property transfer costs, blockchain technology can also be applied to companies involvedVarious fields such as stocks, financial derivatives, and points plans of commercial institutions. The blockchain community is currently focusing on promoting the wider application of this technology in the field of financial assets. Relatedly, various platforms that are still under development have also received very considerable investment.
Blockchain concept? Structurally or by definition, these things are very different. The U.S. dollar, or any currency, from a typical definition, is primarily used as a medium of exchange or store of value for economic activities. Within the geographical scope where a certain currency circulates, people in the region reach a consensus on the use of this currency, making it convenient for everyone to use the same currency to purchase goods or services (the function of currency as a medium of exchange). There is a responsibility to manage the currency through monetary policy in order to ensure the preservation of the value of the currency and avoid the occurrence of inflation (the store of value function of currency). In today's world, almost everyone uses some form of currency in their daily lives.
What is blockchain? Even developers within the blockchain community often easily overlook the big picture mentioned above. There are many competitive projects in the blockchain community, and they are also full of various disputes about the evolution direction of blockchain technology. Over time, some projects in the community will be successful, and others will not be so lucky. Things will not always develop in the direction we expect, but no matter how these projects in the early blockchain community develop, one thing is very clear, that is, blockchain technology has brought us at least A revolutionary function: Blockchain technology will greatly reduce the cost of financial property transfer, and blockchain will be used to control, manage and transmit financial property.
What is blockchain? Blockchain concept? After a certain application analysis, we return to the starting point. The definition of this blockchain technology will surely become more and more abundant with the expansion of applications, and people will discover more mysteries of blockchain technology.
Blockchain is an important concept of Bitcoin. It is essentially a decentralized database and serves as the basis for Bitcoin. underlying technology. Blockchain is a series of data blocks generated using cryptographic methods. Each data block contains information about a Bitcoin network transaction and is used to verify the validity of the information (anti-counterfeiting) and generate the next block. .
The blockchain is public on the Internet and can be queried in every offline Bitcoin wallet information. The functionality of a Bitcoin wallet relies on confirmation with the blockchain, and a valid check is called a confirmation. Usually a transaction requires several confirmations before it can proceed. The lightweight Bitcoin wallet uses online confirmation, which means it does not download the blockchain data to the device storage.
Many of Bitcoin’s altcoins also use the same design, but are slightly different in proof of work and algorithm. For example, using proof of stake and SCrypt, etc.
Blockchain timestamp service and proof of existence
This concept was developed by Satoshi NakamotoIt is proposed in the white paper [1] that Satoshi Nakamoto created the first block, the "genesis block".
On January 3, 2009, Satoshi Nakamoto, the founder of Bitcoin, left an unchangeable sentence in the genesis block:
“The Times 03/Jan/2009 Chancellor on brink of second lout for banks (on January 3, 2009, the chancellor was on the verge of implementing a second round of bank bailout)."
It was then that the British chancellor Darling was forced to consider a second bailout of the banks. In a time of crisis, this sentence was the headline of a front-page article in The Times that day.
With the blockchain’s timestamp service and proof of existence, the time when the first blockchain was created and the events that were happening at that time are permanently retained.
The Bitcoin company BTCC launched a service "Millennium Chain" in 2015, which is a blockchain engraving service, which uses the above principles. Users can engrave text on the blockchain through this service and store it permanently.
Bitcoin, Litecoin, Ruitai Coin, and Qianjin Card are all digital currencies based on blockchain technology.
Chongqing Jinwowo analyzed: Blockchain is actually a decentralized distributed ledger database.
How popular is blockchain technology?
Blockchain technology makes DAC possible. DAC is something that can fundamentally subvert the organizational model of human society. I believe that its impact on society will surpass the Industrial Revolution and become the most profound change that the Internet has brought to the world.
The essence of blockchain technology is a method of data storage, transmission and certification that is decentralized and contained in a distributed structure. It replaces the current Internet with data blocks (Block). The road's reliance on the central server enables all data changes or transaction projects to be recorded on a cloud system, theoretically achieving self-certification of data during data transmission.
Blockchain technology can be applied to many industries:
Art industry
Ascribe allows artists to use blockchain technology to declare ownership, Issue numberable, 100% editions of your work 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.
Legal Industry
BitProof is the most advanced of the many document timestamp applications that have emerged in recent years, and will make traditional notarization methods a thing of the past. Compared with free versions including Blocksgin and OriginStaemp, BitProof provides more services, including one forintellectual property rights. Interestingly, BitProof recently collaborated with a San Francisco IT school to put all their students’ academic certificates on the blockchain, completely redefining how diplomas and student certificates are processed and used.
Development Industry
Colu is the first company to allow other companies to issue digital assets. They can "tokenize" various assets and have a profound impact on many people. Although the free Bitcoin wallet Counerparty also allows simple tokens to be issued and traded among other wallet holders, Colu tokens can be configured in various states and types, and can leave and return to the system. , and when storing data on the blockchain is too large, the data can be stored on the BitTorrent network.
Internet Mutual Aid Industry
Tongxin Mutual Aid is the first blockchain online mutual aid platform to be implemented and applied. Technically, through blockchain and big data technology, it eliminates the shortcomings of the traditional online mutual aid model. Establish an open and transparent new online mutual aid platform.
Aite Cat is a virtual pet game produced under blockchain technology. This virtual cat is similar to Internet Letts Dog, 360 pet cat, and NetEase’s Planet are all the same type of blockchain virtual products. The difference between Aite Cat is that the entire cat design uses a 3D three-dimensional effect, making the cat’s The display is no longer a single picture, allowing the cat to move, which increases the fun of the cat.
What technology is the Huangbao blockchain system?The Huangbao blockchain is a powerful decentralized loop intelligence system. The Huangchain chain is referred to as HUANG. It is the first to be used in financial services, advertising media, games and entertainment, various life applications and other fields, becoming a blockchain 3.0 The representative virtual currency of the era, Media Chain 3.0 technology has the core characteristics of being safer, more efficient, more flexible, and more open. The widespread application of its technology will surely trigger new forms and new ideas in the global media industry, which can Create convenient services and new concepts, which marks a new economic era before the public.
E. What structures does the blockchain consist of
The blockchain is a chain storage structure formed by interconnecting blocks. The blocks are the data elements in the chain storage structure. , the first block of which is called the genesis block.
General blocks include block header and block body. The block header contains the identification information of each block, such as version number, hash value, timestamp, block height and other information; the block body mainly contains specific transaction data.
F. A blockchain can be divided into at least three layers. Which three layers are there
Chongqing Jinwowo Network analyzes the structural level of blockchain technology as follows:
Blockchain can be roughly divided into two levels.
One is the underlying technology of blockchain;
/>The second is to make upper-layer applications of blockchain, that is, transformation, optimization or innovative applications based on blockchain.
G. Popular explanation of what blockchain is
Question 1: What is blockchain? Can you explain the principle of 10-point blockchain in plain language: Go Centralized 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 Conduct payment transactions directly 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, the digital signature of electronic currency, etc.; the hash formed by the previous block is used to connect the blocks to realize the past The order of transactions; random numbers are the core of transaction completion. All miner nodes compete to calculate the answer to the random number. The node that gets the answer the fastest 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.
?
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 and election voting.Tickets 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, mainly overseas. 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 underlying Bitcoin, which is also a peer-to-peer electronic cash system that can achieve peer-to-peerFor value express, we should distinguish concepts such as Bitcoin, Bitcoin blockchain, blockchain and blockchain technology. 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, self-certification of data during data transmission is theoretically achieved. In a far-reaching sense, this goes beyond traditional and conventional concepts.In the sense of relying on the central information verification paradigm, it 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 human brain intelligence. New interfaces and shared interfaces for 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. Currently, whoever owns the system keeps the accounts. Tencent keeps the accounts of WeChat, and Alibaba keeps the accounts of Taobao. 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. The system will judge the person who has the fastest and best accounting during this period, write his recorded content into the ledger, and record this Within a period of time, the contents of the ledger are sent to all other people in the system for backup. 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 has decentralization, what isAs for decentralization, for example, when you buy something on Taobao, you place an order and pay it to 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 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 completely applied to 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) (joining blocks and transactions)Internet protocol rules and accounting (Ledger) system including block chain (Blockchain), full encryption, and mutual authentication (time stamp and other factors) 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. The 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 certificate. 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, also "partially decentralized", according to the account book 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 deleted: Once the data has been verified and recorded, no one has the authority 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!
H. Horizontal comparison of various blockchain architectures
Horizontal comparison of various blockchain architectures
I often hear people talk about blockchain, from the birth of Bitcoin in 2009 to the present , various blockchain systems or blockchain-based applications are constantly being developed and applied to a large number of scenarios, and the blockchain technology itself is constantly changing and improving.
Blockchain is also called a distributed ledger, which corresponds to a centralized ledger, such as a bank. Different from centralized ledgers, distributed ledgers rely on redundant storage of ledger data in all participating nodes to ensure the security of the ledger. Simply put, blockchain uses three underlying technologies: peer-to-peer network technology, cryptography technology, and distributed consensus algorithms. Usually, the blockchain system also “comes with a free feature” called a smart contract. Although smart contracts are not a necessary part of the blockchain system, due to the decentralized nature of the blockchain, it can provide a trusted computing environment for smart contracts.
In order to adapt to the needs of different scenarios, blockchain systems often need to undergo various transformations during actual application to meet specific business requirements, such as identity authentication, consensus mechanism, encryption, etc.Key management, transaction frequency, response time, privacy protection, regulatory requirements, etc. Companies that actually apply blockchain systems often do not have the ability to carry out such transformations, so some frameworks for customizing dedicated blockchain systems have gradually appeared on the market. Using these frameworks, it is easy to customize products suitable for enterprises. Blockchain system for your own business.
This article will conduct a horizontal comparison of several typical blockchain frameworks currently on the market to see what characteristics they have and what are the differences between them. In order to keep the comparison fair, this article will only discuss open source blockchain frameworks.
A brief introduction to each blockchain architecture
1. Bitcoin
Bitcoin originated from an article named Satoshi Nakamoto published in 2008 The paper is "Bitcoin: A Peer-to-Peer Electronic Cash System", which describes an electronic currency he calls "Bitcoin" and its algorithm. In the following years, Bitcoin continued to grow and mature, and its underlying technology was gradually recognized and abstracted by people. This is blockchain technology. As the originator of blockchain, Bitcoin plays an important role in the blockchain family. The number of altcoins developed based on Bitcoin technology is as countless as the stars in the sky.
It can be learned from the paper that Satoshi Nakamoto’s purpose of designing Bitcoin is to realize an electronic cash system completely based on a peer-to-peer network, so that online payments can be directly initiated by one party and paid to another party, with an intermediate No need to go through any intermediaries. In summary, he hopes that the design of Bitcoin can achieve the following goals:
● Issue currency without the need for a central authority
● Make payments without the need for intermediaries
● Maintain user trust Anonymity
● Transactions cannot be reversed
From the perspective of an electronic cash system, the above goals have been basically achieved in Bitcoin, but there are still some technical problems that need to be solved, such as scalability attacks , block capacity limit, block fork, scalability, etc.
In terms of application scenarios, a large number of digital currency projects are currently designed based on the Bitcoin architecture. In addition, there are some more practical application cases, such as colored coins, t?, etc.
Colored coins (coloredcoins), by carefully tracking the ins and outs of some specific Bitcoins, they can be distinguished from other Bitcoins. These specific Bitcoins are called colored coins. They have some special properties and thus have a value that is independent of the face value of Bitcoin. Using this characteristic of colored coins, developers can create other digital assets on the Bitcoin network. Colored coins are themselves Bitcoin and are not required for storage and transferA third party that can leverage the already existing foundation of Bitcoin.
t? is an application of Bitcoin blockchain in the financial field. It is a blockchain-based private and public equity trading platform launched by the American online retailer Overstock.
2. Ethereum
The goal of Ethereum is to provide a blockchain with a Turing-complete language. With this language, contracts can be created to write arbitrary state transition functions. Users only need to simply By implementing logic with just a few lines of code, you can create a blockchain-based application and apply it to scenarios other than currency.
The design philosophy of Ethereum is not to directly "support" any application, but the Turing-complete programming language means that in theory any contract logic and any type of application can be created. In summary, in addition to the design goals of Bitcoin, Ethereum also needs to achieve the following goals:
● Turing-complete contract language
● Built-in persistent state storage
Currently There are hundreds of contract projects based on Ethereum, the more famous ones include Augur, TheDAO, Digix, FirstBlood, etc.
Augur is a decentralized prediction market platform based on Ethereum blockchain technology. Users can use digital currency to make predictions and bets, relying on the wisdom of the crowd to predict the outcome of events, which can effectively eliminate counterparty risks and server centralization risks.
Limited by space limitations, we will not introduce more projects based on the Ethereum smart contract platform. There are also many blockchain projects that have been modified based on Ethereum code, but almost all of them are closed source projects and can only be inferred based on some public features, so they will not be discussed in this article.
3. Fabric
Fabric is a blockchain framework developed by IBM and DAH, and is one of the project members of Hyperledger. It functions similarly to Ethereum and is also a distributed smart contract platform. But unlike Ethereum and Bitcoin, it is a framework from the beginning, not a public chain, and there is no built-in token.
Hyperledger is an open source project launched by the Linux Foundation in 2015 to promote blockchain technology and standards. Its members include: ABN AMRO, Accenture and more than a dozen different interests. As an entity, the goal is to allow members to work together to build an open platform to meet various user cases from multiple different industries and simplify business processes.
As a blockchain framework, Fabric adopts a loosely coupled design to modularize components such as consensus mechanism and identity verification so that they can be easily replaced with custom modules during the application process. In addition, Fabric also uses container technology to convert smart contract code (chaincode) Run in docker, so that smart contracts can be written in almost any high-level language.
The following are some design goals of Fabric:
● Modular design, components can be replaced
● Smart contracts running on docker
There are already many developers using Fabric architecture for development During the implementation of proof-of-concept (POC) projects, there are many attempts by some financial institutions. However, because the project has just started, there is no mature application yet.
4. DNA
DNA (Distributed Networks Architecture) is a blockchain architecture developed by "Distributed Technology", a blockchain startup company headquartered in Shanghai. It can support public chains at the same time. , alliance chain, private chain and other different application types and scenarios, and quickly integrate with business systems.
Different from Ethereum and Fabric, DNA supports a variety of digital assets at the bottom of the system. Users can create their own asset types directly on the chain and use smart contracts to control its issuance logic. For most blockchain application scenarios, digital assets are indispensable, and developing a set of transfer and issuance logic based on smart contracts for each digital asset is very wasteful and inefficient. Therefore, it is very necessary for the bottom layer of the blockchain to provide direct digital asset functions. For those application scenarios that do not require digital assets at all, arbitrary custom logic can also be written based on the smart contract architecture provided by DNA.
DNA’s design goals include the following:
● Underlying support for multiple digital assets
● Turing-complete smart contracts and state persistence
● Cross-chain interoperability Safety
● Transaction finality
Currently, many financial institutions have adopted DNA architecture to develop blockchain proof-of-concept products. In addition, there are some blockchain projects that have been implemented, such as Xiaoyi Blockchain, Fachain, etc.
Antshares is a public chain positioned at the digitization of assets. It digitizes assets and rights in the physical world and uses a decentralized network protocol to conduct registration, issuance, transfer transactions, clearing and delivery and other financial services through a peer-to-peer network. . It adopts a community development model and is architecturally consistent with DNA, allowing cross-chain interoperability with any DNA-based blockchain system.
FaChain is the world's first large-scale commercial legal evidence storage blockchain. It is an evidence recording and preservation system based on DNA blockchain technology and is established and operated by multiple institutions. The system has no central control point, and once the data is entered, it cannot be tampered with by a single agency or node, thus meeting the requirements for judicial evidence storage.
5. Corda
Corda was developed by R3CEV, a New York-based blockchain startup. The R3 Blockchain Alliance initiated by it has attracted the participation of dozens of giant banks, including Wells Fargo, Bank of America, and New York Mellon Bank, Citibank, Commerzbank, Deutsche Bank, HSBC, Mitsubishi UFJ Financial Group, Morgan Stanley, National Australia Bank, Royal Bank of Canada, SEB, Societe Generale, etc.
It can also be seen from the composition of R3 members that Corda is a blockchain architecture specifically used for bank and inter-bank business. Although R3 itself claims that Corda is not a blockchain, judging from various characteristics, it has some characteristics of a blockchain.
Technical comparison
1. Digital assets
Next, we will make a series of technical comparisons of these blockchain frameworks mentioned above, and introduce their differences from multiple dimensions. with similarities.
Blockchain’s built-in tokens are often an economic incentive model and a means to prevent spam transactions. Bitcoin is born with and has only one built-in token, so all "transactions" in the Bitcoin system are essentially transfer behaviors, unless additional digital assets are added to Bitcoin through an external protocol layer.
Ethereum and DNA have built-in tokens. In addition to the above-mentioned economic incentives and preventing spam transactions, their role is to provide a charging channel for the built-in functions of the system. For example, Ethereum's smart contract operation requires GAS, and DNA's digital asset creation also requires a certain amount of tokens.
Ethereum and Fabric do not have built-in support for multiple digital assets, but implement corresponding functions through smart contracts. The advantage of this approach is that the system design can be very simple, and the behavior of the assets can be specified arbitrarily, with a high degree of freedom. However, such a design will also bring a series of negative impacts. For example, all asset creators have to write repeated business logic themselves, and users cannot operate their assets in a unified way.
In contrast, DNA and Corda adopt a method of supporting multiple digital assets at the bottom level, allowing asset creators to easily create their own asset types, and users can also manage all in the same client. assets. For business scenarios with more complex logic, they can also use smart contracts to enhance the functions of assets, or create a business logic that has nothing to do with assets.
2. Account system
UTXO (Unspent Transaction Output) is a mechanism: each digital currency will be registered under the ownership of an account. A digital currency has two status, that is, either it has not been spent or it has been spent. When you need to use a digital currency, justMark its status as spent, create a new digital currency of the same amount, and register its ownership under the new account. In this process, the digital currency marked as spent is called the input of the transaction, and the new digital currency created is called the output of the transaction. In a transaction, it can contain multiple inputs and multiple output, but the sum of the inputs and the sum of the outputs must be equal. To calculate the balance of an account, just add the denominations of all digital currencies registered under the account.
Bitcoin and Corda adopt an account mechanism such as UTXO, while Ethereum adopts a more intuitive balance mechanism: each account has a status, and the status directly records the current balance of the account and the logic of the transfer. It means subtracting a part of the balance from one account and adding the corresponding balance to another account. The subtracted part and the added part must be equal. DNA is compatible with both modes in terms of account mechanism.
So what are the advantages and disadvantages of UTXO mode and balance mode? The biggest benefit of UTXO is that UTXO-based transactions can be verified in parallel and ordered arbitrarily, because all UTXOs are not related to each other. This is very helpful to the future scalability of the blockchain, and the balance-based design There is no such advantage; on the contrary, the advantage of balance design is that the design idea is very simple and intuitive, which facilitates program implementation. Especially in smart contracts, it is very difficult to deal with the status of UTXO. This is also the reason why Ethereum, with smart contracts as its main function, chooses the balance design, while digital asset-centric architectures such as Bitcoin, OnchainDNA, and Corda prefer UTXO designs.
As for identity authentication, Bitcoin and Ethereum basically have no identity authentication design. The reason is very simple, because the design ideas of both of them emphasize privacy and anonymity and oppose supervision and centralization, and identity authentication is inevitable. Introduce some centers or weakened central institutions. Fabric, DNA and Corda all chose to use digital certificates to authenticate user identities because all three have design goals of being applied to existing financial systems, and financial systems must consider compliance and accept supervision. In addition, Existing financial systems have adopted digital certificate solutions on a large scale, so that they can be quickly integrated with blockchain systems.
I. What are the survival rules at the bottom of the blockchain food chain
We know that there is such a "chain of contempt" in the financial circle: the banking industry looks down on Wall Street investors, and investors look down on stock traders. , Stock speculators look down on fund speculators, fund speculators look down on real estate speculators, and real estate speculators look down on Bitcoin traders. But you may not know that there is also such a "blockchain food chain" in the cryptocurrency industry.
This noun sounds likeIt’s unfamiliar, but it reveals the reality of each section of the crypto mining industry chain. In this long blockchain industry
, one end is resource-heavy links such as mining machines and electricity, and the other end is heavy operation links such as mining pools and wallets. Then miners shuttle throughout this entire chain.
It is really difficult to make profits in this process. Regardless of whether it is the arrival of a calf or a big bull, miners are still surviving in the cracks
despite the favorable tide, and their profits are meager. This made the miners shout: "Miners are always at the bottom of the mining ecosystem."
As miners at the bottom of the blockchain food chain with no right to speak, how did they survive in this lengthy process? What about those who are struggling in the food chain? They
have their own "bottom survival rules".
(1) Mine:
Between the mine and the miners, the core production factor is electricity. In fact, the vast majority of miners get second-hand or even third-hand
flashlights, and they have no chance to get first-hand cheap electricity. At the same time, they often face harsh situations such as market highs, black-box operations in mining circles, and price hikes
.
So experienced miners realized the method of “pre-risking”. That is to say, priority is given to selecting high-quality mines with previous cooperation experience, and secondly, when selecting
new mines, the conditions and quality of the mines are strictly measured. When the cooperation is finally implemented into the contract, it is best to implement it in numerical values rather than vague textual concepts
or textual descriptions. Through these risk-forward strategies, they can effectively avoid certain risks.
(2) Mining pools:
Mining pools, as technical service providers for the crypto-mining ecosystem, are mixed in terms of good and bad, which also gives miners a headache. In the process of choosing a cooperative mining pool
, it is extremely important for miners to judge the quality of the mining pool.
After paying the tuition fee for the mining pool, experienced miners have three criteria when choosing a mining pool: The first is the brand effect because of its hidden technology
The second is the scale of computing power, because it directly affects mining income; the third is human resources, because it can
effectively avoid disputes afterwards.
(3) Rights protection:
Miners are at the bottom of the blockchain food chain, which often means that their rights protection journey will be particularly difficult. After all, today’s cryptocurrencies still have a lack of supervision
. The crypto mining industry has not yet been fully legislated, and there is no way to protect the already vulnerable.of miners. Not only were there no standardized industry
regulations in the early days of the industry, miners often did not sign written contracts when cooperating with mining pools. When encountering unfair treatment, miners often had no choice but to "break their teeth
/>
Swallow it into your belly."
Many miners were forced to change careers. Many miners who stick to the industry place more hope in authoritative social groups or strong network resources, hoping that some prestigious authoritative institutions or community organizations can expose vicious incidents. and liars.
Just because of the "quick money", more and more people are flocking to the mining industry, but it always comes and goes in a hurry. Only a few old miners
have not forgotten their original aspirations, stick to their posts, maintain their faith in blockchain technology, and become the cornerstone of the entire encryption market. We hope that when the crypto market is booming, more people will pay attention to these miners who lack the right to speak, because they have never stopped busy,
Only then can the market development and future of the blockchain industry rise step by step today.
J. What is the concept of blockchain
Concept: Blockchain is a new application model of computer technology such as distributed data storage, point-to-point transmission, consensus mechanism, and encryption algorithm.
The essence of the blockchain is a distributed public ledger. Anyone can verify this ledger, but no single user can control it. Participants in a blockchain system jointly maintain a ledger: it can only be modified according to strict rules and consensus.
The development of blockchain has gone through three stages:
1. Incubation period: 2009-2012, the economic form was dominated by Bitcoin and its industrial ecology.
2. Embryonic period: The period is from 2012 to 2015. Blockchain entered the public eye with Bitcoin, new wallet payment and remittance companies appeared, and the blockchain economy spread to the financial field. The underlying technology of blockchain continues to innovate. Blockchain technology is divorced from the Bitcoin system.
3. Development period: In 2016, industry applications began to be explored, and a large number of blockchain startups emerged. The popularity of ICO in 2017 brought unprecedented attention to blockchain.
(10) How many extended readings are there at the bottom of the blockchain:
Three characteristics of the three blockchains:
1 , The core idea of the blockchain is decentralization: in the blockchain system, the rights and obligations between any nodes are equal, and all nodes have the ability to vote with computing power, thus ensuring that the recognized The result is recognized by more than half of the nodes. Even if it suffers a severe hacker attack, as long as the number of nodes controlled by the hacker does not exceed half of the total number of global nodes, the system can still operate normally., the data will not be tampered with.
2. The biggest disruption of blockchain lies in the establishment of credit: in theory, blockchain technology can make WeChat Pay and Alipay no longer valuable. The Economist made a vivid metaphor for blockchain: simply put, it is “a machine that creates trust.” Blockchain allows people to collaborate without trusting each other and without a neutral central authority. Combating counterfeit currency and financial fraud will no longer be needed in the future.
3. The collective maintenance of blockchain can reduce costs: In a centralized network system, the maintenance and operation of the system rely on the operation, maintenance and operation of platforms such as data centers, and costs cannot be omitted. Anyone can participate in the nodes of the blockchain. While participating in the recording, each node also verifies the correctness of the recording results of other nodes, which improves maintenance efficiency and reduces costs.
In one sentence, blockchain touches money, trust and power, which are the fundamental foundations on which human beings rely for survival.
