区块链交易吞吐量怎么确定的,区块链交易吞吐量怎么确定出来

区块链交易吞吐量是指每秒可以处理的交易数量，也就是每秒可以完成多少个交易。确定区块链交易吞吐量的主要因素有三个：网络带宽、节点数量和区块大小。

网络带宽是指网络传输能力，它是指网络中的每秒传输的数据量，也就是每秒可以传输多少数据。网络带宽是影响区块链交易吞吐量的关键因素，因为它决定了每秒可以处理多少交易。如果网络带宽不够，就会出现网络拥塞，交易处理的速度会变慢，从而影响区块链交易吞吐量。

节点数量是指区块链网络中的节点数量，它是指参与区块链网络处理交易的节点的数量。节点数量越多，可以处理的交易就越多，从而提高区块链交易吞吐量。

区块大小是指区块链网络中每个区块的大小，它是指每个区块可以存储的数据量。区块大小越大，就可以存储更多的交易，从而提高区块链交易吞吐量。

总之，网络带宽、节点数量和区块大小是影响区块链交易吞吐量的主要因素。如果要提高区块链交易吞吐量，就需要提高网络带宽、增加节点数量和增大区块大小。

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① Consensus mechanism of blockchain

1. How to confirm and reach consensus on transaction information on the network?

Although the consensus mechanism is often mentioned, the meaning and understanding of the consensus mechanism are not clear. Therefore, it is necessary to understand the relevant concepts, principles and implementation methods of the consensus mechanism.

The transaction information of the blockchain is transmitted to each node in the network through network broadcast. How to confirm the broadcast information and reach a consensus among the entire network nodes and finally write it into the block? If there is no corresponding reliable and secure implementation mechanism, it will be difficult to realize its basic functions. Therefore, the consensus mechanism is a key to the operation of the entire network.

The consensus mechanism solves the problem of how the blockchain can achieve consistency in a distributed scenario. The blockchain can reach a relatively balanced state among many nodes because of the consensus mechanism. So how does the consensus mechanism solve the problem of mutual trust between nodes based on the idea of ​​decentralization?

When the idea of ​​distribution was proposed, people began to design consensus algorithms based on the FLP theorem and the CAP theorem. Standardly speaking, the consistency of an ideal distributed system should meet the following three points:

1. Termination: The consistency result can be completed within a limited time.

2. Consensus: The final decision-making results of different nodes should be the same.

3. Validity: The result of the decision must be a proposal put forward by other processes.

However, in actual computer clusters, the following problems may exist:

1. Nodes have different transaction processing capabilities, and the throughput of network node data is different
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2. The communication channel between nodes may be unsafe

3. There may be malicious nodes

4. When the asynchronous processing capabilities reach a high degree of consistency, The scalability of the system will become worse (cannot tolerate the addition of new nodes).

Scientists believe that it is impossible to achieve complete consistency in a distributed scenario. However, engineers can sacrifice part of the cost in exchange for the consistency of distributed scenarios. The above two major theorems also have this idea. Therefore, various formula mechanisms based on blockchain design can be regarded as sacrificing part of the cost in exchange for more adaptability. My idea is to make a flexible transformation on this idea, that is, sacrificing part of the cost at the appropriate time and space in exchange for consistency adapted to the scene at that time, and a flexible blockchain system can be realized that is pluggable. pull-out areaBlockchain system. Today I will introduce my views and analysis on various consensus mechanisms. Distributed systems with or without malicious nodes are divided into Byzantine fault-tolerant and non-Byzantine fault-tolerant mechanisms.

The FLP theorem is the impossibility of FLP. It proves that in a distributed scenario, no matter any algorithm, even if only one process hangs up, there is an inability to reach consensus for other non-failed processes. possible.

FLP is based on the following assumptions:

Can only be modified once: Each process initially records a value (0 or 1). The process can receive messages, change the value, and send messages. When the process enters the decide state, the value will no longer change. The protocol ends successfully when all non-failed processes enter the decided state. This is relaxed to the extent that some processes enter the decided state, even if the agreement is successful.

Asynchronous communication: The biggest difference from synchronous communication is that there is no clock, no time synchronization, no timeout, no detection failure, messages can be delayed arbitrarily, and messages can be out of order.

Communication is robust: As long as the process does not fail, the message will be delayed indefinitely, but will eventually be delivered; and the message will only be delivered once (no duplication).

Fail-Stop model: A process failure is like a downtime and no more messages are processed.

Number of failed processes: At most one process fails.

CAP is the most discussed theory in distributed systems, especially in the field of distributed storage. CAP was proposed by Eric Brewer at the PODC meeting in 2000. It was a result of Eric Brewer's research on data consistency (consistency), service availability (availability), and partition fault tolerance (partition- tolerance) conjecture:

Data consistency (consistency): If the system returns success for a write operation, then subsequent read requests must read the new data; if the system returns failure, then all read operations No one can read this data. For the caller, the data has strong consistency (also called atomic and linearizable consistency) [5]

Service availability (availability) : All read and write requests are responded to within a certain period of time, can be terminated, and will not wait forever

MinutesZone fault tolerance (partition-tolerance): In the case of network partition, the separated nodes can still serve the outside world normally

If the AP is satisfied at a certain time, the separated nodes can serve the outside world at the same time but cannot communicate with each other. , will lead to inconsistent status, that is, C cannot be satisfied; if CP is satisfied, in the case of network partition, in order to achieve C, the request can only wait forever, that is, A is not satisfied; if CA is to be satisfied, the node status must be consistent within a certain period of time, If it is required that network partitions cannot occur, P cannot be satisfied.

C, A, and P can only satisfy at most two of them. Like the FLP theorem, the CAP theorem also indicates an unreachable result (impossibility result).

② What to do if the blockchain network is congested

1

What is network congestion

Usually refers to a type of network Fault phenomenon: An office LAN computer uses an ADSL Modem+HUB with routing function to share the Internet. When there are fewer people online at the same time, the network is relatively smooth. When more people are online, the network will be intermittently connected, and the HUB's Collision indicator will flash continuously.

In blockchain applications, whether it is digital currency, smart contracts, decentralized trading systems, etc., their networks are composed of independent nodes. Various operations in the network, such as transfer transactions, changes in contract status, etc., will be broadcast to the network in the form of transaction data, and will be packaged into new blocks by miners as part of the main chain to ultimately confirm all these operations.

When there are many nodes and a lot of usage, a large number of transactions will not be packaged within the normal expected time, because they are all congested in the network, waiting for confirmed transaction data Usually maintained in the node's memory pool. This is the congestion of the blockchain.

2

How network congestion occurs

The current Bitcoin block size is 1M, and it can only process approximately 7 transactions per second. As the transaction volume continues to grow, the Bitcoin network has become difficult to confirm transfer transactions quickly, and the blockchain network often experiences congestion.

At the peak, there was a backlog of tens of thousands of transactions on the blockchain network. Some transfer transaction fees were as high as dozens of dollars. When the network was congested, transactions even took several days to be packaged.

In fact, this problem exists for every type of blockchain application, causing users to constantly complain about transaction delays, but it also proves the widespread application and user experience. increase in quantity.

So what should we do when these problems occur?

3

How to solve network congestion

There are only the following solutions.

The first type is expansion to improve processing capabilities.

The second type is to intercept traffic and limit the number of blockchain packages.

By combining the above two methods.

Researchers at the University of Sydney have developed a new blockchain system that can achieve a throughput of 440,000 transactions per second on 100 machines, while Visa’s transaction processor per second is 5.6 Thousands of pens. By comparison, Bitcoin is limited to 7 transactions per second and the Ethereum blockchain is limited to 20 transactions.

After the JadeChain public chain system is launched, it will completely solve the network congestion problem in JADE ecological applications.

③ What is the prospect of blockchain content?

Analysis of China’s blockchain industry expenditure scale and application prospects in 2018. It will be close to US$300 million in 2019. Solve shortcomings to promote economic development

Blockchain technology is expected to be widely used in the economic field

Blockchain technology has strong practical significance in cultivating new drivers of economic growth, building an honest society, improving management technology levels, and easing the financing difficulties of small and medium-sized enterprises. It is expected to Widely used in economic fields. At present, the application of blockchain technology is still in the early stage of development and faces many challenges. We must actively promote the application of blockchain in multiple fields, scenarios and environments of the economy and society, create a good industrial development environment, improve the quality of development, and strengthen Blockchain core technology research and development, professional application demonstration, strengthening standard manufacturing, talent training and the construction of public service platforms.

China’s blockchain market spending in 2019 will be close to US$300 million

According to the “In-depth Analysis Report on Business Model Innovation and Investment Opportunities in China’s Blockchain Industry” released by the Qianzhan Industry Research Institute 》Statistics show that as of 2017, China’s blockchain market expenditure was only US$83 million. In 2018, China’s blockchain market expenditure will reach US$160 million. It is also predicted that China’s blockchain market spending will be close to US$300 million in 2019. At this stage, the overall market size of blockchain is small. This is because most of the blockchain projects on the market are in the experimental stage and the investment is not large. On the other hand, many companies have realized the potential of blockchain and plan to increase their budgets in the future. Affected by this, China's blockchain market will usher in rapid growth, with market expenditures expected to reach US$1.95 billion in 2023. The average annual compound growth rate from 2019 to 2023 is 60.51%.

Statistics and forecasts of China’s blockchain market expenditure from 2017 to 2023

Data source: Compiled by Qianzhan Industry Research Institute

Analysis of unfavorable factors for the development of China’s blockchain

1. The technology is not mature enough. At present, blockchain technology has great advantages in system stability, application security, and business model.The technology and other aspects are not yet mature, and cannot meet the requirements of "high efficiency and low energy", "decentralization" and "security" at the same time. First, performance issues. The transaction throughput that can be carried out on the blockchain is not high, and the current block capacity is very small, which leads to network congestion and high-frequency business needs are difficult to meet. Many projects are also working on optimization, but they are far from real scenarios such as banks. There is still a certain distance between the transaction throughput of , stock exchanges, etc. Second, there is the issue of consensus mechanism. In terms of energy consumption, consensus algorithms such as workload proof consume a lot of energy and cost, causing the blockchain to waste a lot of computing power and matching power across the entire network. In terms of types, the current blockchain consensus mechanisms are too few in type and will be diversified in the future. In business scenarios, a richer consensus mechanism is inevitably needed to adapt. Third, security issues. Issues such as privacy protection, harmful information on-chain, smart contract vulnerabilities, consensus mechanism and private key protection, computing power attacks, cryptographic algorithm security, etc. all make the blockchain face a severe situation of platform security and application security. Fourth, database issues. Unlike traditional databases, blockchain applications require a large number of write operations, HASH calculations, and verification operations. Database systems specifically for blockchain are still difficult to overcome.

2. The application scenario is unclear

Currently, the blockchain project is still in the exploratory stage, and no specific implementation scenario can be found. At present, promising areas include finance, sharing economy, Internet of Things, public services, etc. However, judging from the maturity of existing blockchain technology, there are still many problems in blockchain applications, and there is still a gap between actual use. First, the immaturity of blockchain technology has restricted commercial applications. Although there are currently many types of core blockchain technologies such as privacy protection algorithms and consensus mechanisms, they are generally not commercially available. Secondly, the application model of blockchain is still being explored, and the "irreplaceable" advantages of blockchain have not yet been realized. The blockchain itself represents a consensus system, and a consensus system that conforms to the corresponding business scenario should be built from a higher level, not just "business + blockchain". China has a large number of users, complex business scenarios, and any commercial product will involve a very large traffic and population, and the current blockchain technology cannot satisfy it.

3. Scarcity of professional talents

Blockchain technology is a multi-disciplinary and cross-field technology, which mainly involves operating systems, network communications, cryptography, mathematics, and finance. , production, etc., but currently our country still has shortcomings in interdisciplinary fields and fields, and the supply of talents in related fields is seriously insufficient. On the one hand, there is a huge gap in R&D technical talents. Blockchain technology research and development mainly focuses on programming languages ​​​​such as Go, Javascript, C and C+, and new smart contracts use new functional programming languages ​​​​such as Haskell, Ocaml, and Rholang. There is a huge gap in China's talent market for technical talents with senior R&D experience in relevant languages. On the other hand, there is a lack of design talent at the bottom level. Different from R&D technical talents, blockchain underlying system architecture design talents must master multiple interdisciplinary professional skills.To be able to do this, you must not only have a deep understanding of the underlying design principles of the blockchain and have experience in the design of various system architectures, but also master the business logic of specific application scenarios. Although some colleges and universities have launched cross-disciplinary education and blockchain-specific technical disciplines, professional talents are still very scarce.

Analysis of favorable factors for the development of China’s blockchain

1. Favorable policies promote development. In January 2017, the Ministry of Industry and Information Technology released the "Software and Information Technology Service Industry Development Plan (2016-2020)", which proposed requirements for innovation in blockchain and other fields to reach international advanced levels. In August 2017, the State Council issued the "Guiding Opinions on Further Expanding and Upgrading Information Consumption to Continuously Release the Potential of Domestic Demand" and proposed to carry out pilot applications based on new technologies such as blockchain and artificial intelligence. In October 2017, the State Council issued the "Guiding Opinions on Actively Promoting Supply Chain Innovation and Application" proposing to study and use emerging technologies such as blockchain and artificial intelligence to establish a credit evaluation mechanism based on the supply chain.

In March 2018, the Ministry of Industry and Information Technology released the "Key Points of the Standardization Work of the Informatization and Software Service Industry in 2018", proposing to promote the establishment of the National Informatization and Industrialization Integrated Management Standardization Technical Committee, the National Blockchain and Distributed Records Accounting Technology Standardization Committee. In June 2018, the Ministry of Industry and Information Technology issued the "Industrial Internet Development Action Plan (2018-2020)" to encourage and promote the application research of emerging cutting-edge technologies such as edge computing, deep learning, and blockchain in the Industrial Internet.

Since blockchain was first included in the "13th Five-Year Plan" National Informatization Plan in 2016, blockchain has increasingly received attention and attention from the national government. Beijing, Shanghai, Guangdong, Hebei, Twenty-four provinces, cities or regions including Jiangsu, Shandong, Guizhou, Gansu and Hainan have launched dividend policies, carried out the layout of the blockchain industry chain, and actively explored industry applications based on blockchain.

2. The blockchain industry is gradually taking shape

At present, my country’s blockchain technology continues to innovate, and the blockchain industry is gradually taking shape, starting in supply chain finance, credit reporting, and product traceability. , copyright transactions, digital identity, electronic evidence and other fields are expected to promote technological changes, organizational changes and efficiency changes in our country's economic system, making important contributions to building a modern economic system. With the continuous influx of entrepreneurs and capital, the number of enterprises has increased rapidly. Blockchain applications will be implemented faster, boosting the high-quality development of traditional industries, accelerating industrial transformation and upgrading, using blockchain technology to "reduce costs" and "increase efficiency" for the real economy, and promote the standardized development of traditional industries. In addition, blockchain technology is deriving into new business formats and becoming a new driving force for economic development. Blockchain technology is promoting a new round of business model changes and becoming an important support for building an honest social system.

3. Broad application prospects in the future

In the past, the circulation of physical banknotes was difficult to trace, but with the application of blockchain technology, the flow of all digital assets can be traced There will be "chains" to check. For example, in the financial field, blockchain is expected to be able to solveThe pain points and difficulties in the payment field can reduce the complexity of transactions, improve the end-to-end speed of transactions, reduce communication costs during the transaction process, and improve the transparency and non-tamperability of transaction records. The cost of reconciliation, clearing, and settlement between financial institutions, especially cross-border financial institutions, has always been high, and there are complex manual processes. Blockchain technology has data that cannot be tampered with and is traceable, and its application can help reduce financial costs. The cost of reconciliation and dispute resolution between institutions can significantly improve the processing speed and efficiency of payment business, and also make small-amount cross-border payments possible. In addition, the application of blockchain will also extend to many fields such as medical health, education, charity, social management, etc. The market prospects are very broad.

④ It is said that there is a new technology ecological order in the blockchain 3.0 era. What exactly does it do?

Blockchain technology has been widely sought after since its advent and is considered a new round of The leading technology of the industrial revolution. , At present, the blockchain has moved out of the conceptual stage and is about to enter the blockchain 3.0 era. Unfortunately, there are still many unsolved security vulnerabilities in blockchain technology in this era. Both blockchain enthusiasts and cryptocurrency speculators have heard and witnessed the never-ending debate about inefficiencies such as limited transaction throughput and high gas costs of blockchain, and deeply feel the challenges of blockchain technology in these industries. Bottlenecks and pain points, and these problems are closely related to the inherent deficiencies of the blockchain architecture.
ECOL Ecological Order is a unified standard, intelligent, efficient and modular blockchain ecosystem and application scenario solution for the security vulnerabilities of blockchain technology. It is committed to using smart contracts to build a Programmable society. The ECOL ecosystem uses blockchain, big data, Internet of Things, artificial intelligence (AI), virtual reality (VR) and many other technologies to help people from all walks of life integrate existing systems and services with blockchain. Chains are seamlessly connected, jointly accelerating the blockchain from "technical concept" to commercial scenario implementation.
ECOL Ecological Order has 10 core technological innovations compared to other "blockchain black technologies". Main chain side chain technology, cross-chain communication, supports high concurrency, inhibits block expansion,
both integration and division of labor, both security and convenience; artificial intelligence
AI
coordination The modular intelligent system under the cloud provides replaceable functional modules; unique virtual machines and smart contracts support various creative smart contracts; block fog and fog storage fog computing technology, smaller network delay, fast response; security risks Lower; the dual quantification of block structure and digital assets has the great significance of standardizing, standardizing, and unifying the block structure and digital asset valuation; matching hardware wallets, light wallets, and cold wallets, integrating food, drink, entertainment, food, clothing, housing, transportation, and work All functions of life. Integrating blocks and transactions allows each transaction to directly participate in maintaining the transaction sequence of the entire network, greatly improving efficiency. Ten core technological innovations jointly create a complete ECOL ecological system.

⑤ What are the application characteristics of blockchain?

Blockchain has been very popular recently. News media have reported a lot. Many domestic giant companies have entered the field to deploy blockchain and regard blockchain as a The great disruptive innovations in the Internet era all want to seize their own market opportunities on the blockchain. So what exactly is blockchain?

Today I will briefly introduce the blockchain tutorial. After all, it is not difficult. The core concept is very simple and can be explained clearly in a few sentences. I hope everyone can understand the blockchain after reading it, and also understand what mining is, why mining is getting more and more difficult, and other issues.
Blockchain, Blockchain, is easier to explain in English. It is a technological innovation based on the Internet, with limited technical content and exquisite architecture. It is the technical foundation of the Internet currency king "Bitcoin". Today, blockchain is moving from behind the scenes to the front desk. This is an advancement in Internet technology, although it is still immature. The main function of blockchain is to store information. Any information that needs to be saved can be written to the blockchain and read from it, so it is a database.
1. Blockchain Characteristics
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 its Validity of information (anti-counterfeiting) and generation of the next block. It mainly contains the following characteristics:
Decentralization
Due to the use of distributed computing and storage, there is no centralized hardware or management organization. The rights and obligations of any node are equal, and the data in the system Blocks are jointly maintained by nodes with maintenance functions throughout the system.
Openness
The system is open. In addition to the private information of the transaction parties being encrypted, the blockchain data is open to everyone. Anyone can query the blockchain data and information through the public interface. Develop related applications, so the entire system information is highly transparent.
Autonomy
The blockchain adopts consensus-based specifications and protocols (such as a set of open and transparent algorithms) to enable all nodes in the entire system to exchange data freely and securely in a trustless environment, making Trust in "people" has been changed to trust in machines, and any human intervention has no effect.
Information cannot be tampered
Once the information is verified and added to the blockchain, it will be stored permanently. Unless more than 51% of the nodes in the system can be controlled at the same time, modifications to the database on a single node will not be allowed. is invalid, so the data stability and reliability of the blockchain are extremely high.
Anonymity
Since the exchange between nodes follows a fixed algorithm, the data interaction does not require trust (the program rules in the blockchain will judge whether the activity is valid by itself), so the counterparty does not need to disclose it through the The identity method allows the other party to trust themselves, which is very helpful for the accumulation of credit.
2. Do all blockchain projects require mining?
Not allBlockchain projects will all adopt a "proof of work" method similar to Bitcoin, which is more common in early blockchain projects. If other proof mechanisms are adopted, such as "Proof of Stake (PoS)" and "Delegate Proof of Stake", there is no need to adopt such a mining method.
What are the types of blockchains?
There are currently three types of blockchains:
1. Public chain
Any node is open to anyone, and everyone can participate in this Calculations are performed in the blockchain, and anyone can download and obtain the complete blockchain data (all ledgers). Bitcoin is the most typical public chain.
2. Private chain
In some blockchain application scenarios, it is not expected that anyone can participate in this system. Anyone can view all data, and only authorized nodes can participate and view it. All data, this blockchain structure is called a private chain.
3. Consortium chain
Consortium chain refers to a blockchain in which several institutions or organizations jointly participate in management. Each of them runs one or more nodes, and the data in it is only allowed by different institutions in the system. Perform read and send transactions, and jointly record transaction data. The bank blockchain alliance formed by R3 will build a typical alliance chain.
Does a certain currency necessarily appear in a blockchain project?
Not necessarily.
Bitcoin itself is a payment system, so there needs to be a tool for measuring value, and Bitcoin must appear. In addition, in order to encourage more people to contribute their computers to provide calculations for the system, Bitcoin is also needed for rewards.
In some private chain systems, special assets can be designed for transactions, and each node must participate in the calculation. This is the responsibility and right of each node, and there is no need to consider incentives to encourage their participation. In such a system, it may no longer be necessary to design the existence of a certain currency.
3. In what industries can blockchain be applied?
The main advantages of blockchain are that it does not require intermediary participation, the process is efficient and transparent, the cost is very low, and the data is highly secure. Therefore, industries with needs in any of these three aspects have the opportunity to use blockchain technology.
4. What is the connection between big data and blockchain
Using blockchain technology in big data, the technology ecology of big data is flourishing. No software can solve all problems. Within a range, even Spark, Flink, etc. In scenarios that emphasize transparency and security, blockchain has its place. Using blockchain technology on big data systems can prevent data from being added, modified, and deleted at will. Of course, its time and data magnitude are limited. Taking time and data volume as the coordinate axes, this list lists the range in which current big data engines are generally good at processing data, among which blockchain can be used.It becomes a good supplement. For example, for archived historical data, because they cannot be modified, we can hash the big data, add timestamps, and store them on the blockchain. At some point in the future, when we need to verify the authenticity of the original data, we can perform the same hash processing on the corresponding data. If the answers obtained are the same, it means that the data has not been tampered with. Or, only aggregate data and results are processed, so that only incremental data processing needs to be processed, then the data magnitude and throughput to be dealt with may be something that today's blockchain or improved systems can handle. By combining big data with blockchain, the data in the blockchain can be made more valuable, and the predictive analysis of big data can be implemented into actions. Both of them will be the cornerstone of the digital economy era.

⑥ Is it difficult to develop blockchain technology?

Development is not difficult, but finding profit points is difficult.

The latest technological application of blockchain: Born out of the Bitcoin technology that emerged in 2008, it provides a decentralized credit establishment paradigm that does not require the accumulation of trust. The essence of 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 reliance on central servers, so that all data changes or transaction items are recorded On a cloud system, the self-certification of data during data transmission is theoretically realized. In a far-reaching sense, this transcends the traditional and conventional information verification paradigm that relies on a center and reduces the cost of establishing global "credit." This point-to-point verification will produce a "basic protocol", a new form of distributed artificial intelligence, and will establish a new interface and shared interface for human brain intelligence and machine intelligence.

At present, basically all decentralized virtual currencies will use blockchain technology, such as Bitcoin, Fuyuan Coin, Litecoin, Dogecoin, etc.

⑦ How to convert the traditional ioe mode to distributed

The past few years have just been a gap period in the release of Oracle database products, and now Oracle version 12.2 brings important innovative features Coming soon, Oracle will soon be fully equipped, from centralized storage to Sharding's distributed architecture, from IOE mode to IE's distributed storage architecture, from in-memory database to columnar storage compression, from relational mode to BigData SQL , Oracle will be the most important product release, gain insight into the core of the database, all in Andrew's secret theme.

⑧ Multichain vs. Ethereum – The battle is ongoing

Research conducted by GrandReview shows that the blockchain market is growing rapidly, and there are no signs of This growth will slow in the short term. When blockchain was in its infancy, it was the domain of tight-knit communities, but it has now expanded to largebusinesses, investors and even local governments. But with such rapid expansion comes a new wave of challenges, especially when it comes to scalability.

Solving blockchain scalability issues

It is well known that blockchain has congestion and scalability issues. This has far-reaching consequences, resulting in slower transaction processing times and increased transaction fees, resulting in a poor user experience.

This is not a problem unique to a specific chain, but it is particularly evident in the case of Ethereum, the second-largest blockchain network after Bitcoin. This caused some developers to become so frustrated that they moved to other networks, such as Solana or Cardano, which offered higher speeds.

At the same time, most developers believe that for DeFi to continue to gain popularity and traction, and for these solutions to be accepted by the masses, the solution lies in cooperation, not competition. Enter the idea of ​​a multi-chain universe.

What is Multichain?

Can multi-chain solve scalability issues? As the name suggests, a multi-chain ecosystem is a multi-chain ecosystem in which multiple blockchains are connected to each other with the ultimate goal of improving user experience, increasing efficiency, and allowing for wider adoption. But this requires effective cross-chain solutions. The good news is that some of them are already in production. Let’s look at SushiSwap and Aave adopting multi-chain.

Multi-chain adoption in SushiSwap and Aave

SushiSwap entered the multi-chain field as early as March this year and is now one of the largest multi-chain adopters, existing in 13 On-chain: including Ethereum, Binance Smart Chain, Polygon, Avalanche and Fantom.

Aave will follow suit. It has found success with its crypto lending products, which has led to many users locking up their assets.

Aave’s founder recently stated that the protocol is considering launching on a number of different networks. He also talked about expanding Aave’s lending market on Solana through EVM-compatible solutions Neon Labs, Avalanche and Optimistic Rollup solutions Arbitrum and Optimism as part of its multi-chain strategy.

Where do multi-chain aggregators come from?

Multi-chain or cross-chain aggregators determine the best way to enable transactions across blockchain ecosystems. As such, they ease the burden on existing blockchain users and remove some barriers to entry for new entrants.

ThisAn example of this kind of aggregator is Apeboard, which enables users to monitor their portfolios across different platforms. Apeboard supports 11 chains, including Ethereum, Binance Smart Chain, Polygon, Solana, and Terra. It's great for monitoring assets across multiple chains and tracking balances.

Also worth mentioning here is 1Inch, an exchange aggregator that scans DEXs to find the lowest cryptocurrency prices for traders. 1inch provides liquidity to 78 platforms including Ethereum, Binance Smart Chain, and Polygon.

Popular multi-asset blockchains - Orbit Chain, Polkadot and Cosmos

When talking about the multi-chain future, it is important to discuss multi-asset blockchains, which use decentralization Inter-chain communication (IBC) stores, transmits and verifies information and assets that exist across the entire public blockchain. The most popular of them are Orbit Chain, Polkadot, and Cosmos.

Multiple possibilities for a multi-chain future

Currently blockchain is still defined and experienced by each of its components, which means that from a user perspective, it lacks fluidity sex. Some have even compared it to the early days of the internet. Multi-chain technology will subvert this experience to the point where users may not even know which chain they are operating on. This change is critical to enabling blockchain to transition into a high-growth industry.

Multi-chain will support the adoption of blockchain in many sectors, especially finance and banking. Without this interoperability, transactions between banks using different blockchains would be extremely complex for everyone involved. But with a multi-chain approach, transferring data is not only simple, but also fast and secure.

Similarly, in supply chain management, blockchain interoperability can bring huge benefits. The properties of blockchain allow disconnected supply chain management systems to interoperate without high investment costs. Therefore, it makes sense to leverage these characteristics to transform supply chains.

Finally, an important benefit of interoperability is that different development teams that previously worked in silos can leverage each other's solutions, thereby driving innovation across the industry.

Why Ethereum may hold back multi-chains

Currently, the biggest development holding back multi-chain futures is the launch of ETH 2.0 - a network upgrade that will make the Ethereum network more scalable and security. To achieve this, Ethereum changed its consensus mechanism from Proof of Work (PoW) to Proof of Stake (PoS). The upgrade could have a significant impact on Ethereum’s price due to its lower fees and faster transactionsWill open the network to more user groups.

Ethereum already allows asset transfers on L2 aggregation - an off-chain transaction aggregator within Ethereum smart contracts. Their goal is to reduce fees and congestion by increasing the blockchain’s throughput. But they also offer many solutions when it comes to asset transfers.

It is widely believed that L2 solutions played an important role in bringing Ethereum to mainstream users. It is estimated that L2 can handle 2,000-4,000 transactions per second, which is very close to Visa's processing capabilities. As Layer 1 scales with Ethereum 2.0 and Layer 2, Ethereum will take advantage of some serious economic bandwidth.

In fact, if ETH 2.0 goes into full effect, developers may not see any reason to embrace multi-chains - Ethereum will provide them with everything they need.

⑨ 108 essential knowledge points for getting started with blockchain

Blockchain 108 essential knowledge points for getting started

(Welcome to share the same frequency)

1. What is blockchain

Put the information of multiple transactions and indicate the The information of the block is packaged together, and the verified package is the block.

Each block stores the hash value of the previous block, creating a relationship between blocks, that is to say, a chain. Together they are called blockchain.

2. What is Bitcoin

The concept of Bitcoin was proposed by Satoshi Nakamoto in 2009, with a total number of 21 million. The Bitcoin chain generates a block approximately every 10 minutes, and this block is mined by miners for 10 minutes. As a reward to miners, a certain number of Bitcoins will be issued to miners, but this certain number is halved every four years. Now it's 12.5. If this continues, all Bitcoins will be available in 2040.

3. What is Ethereum

The biggest difference between Ethereum and Bitcoin is the smart contract. This allows developers to develop and run various applications on it.

4. Distributed ledger

It is a database that is shared, replicated and synchronized among network members. To put it bluntly, all users on the blockchain have accounting functions and the content is consistent, which ensures that the data cannot be tampered with.

5. What is quasi-anonymity?

I believe everyone has a wallet, and the wallet address (a string of characters) used to send transactions is quasi-anonymity.

6. what is onIncrease transparency/traceability

The blockchain stores all data from history to the present, anyone can view it, and you can also view any data in history.

7. What is tamper-proof

Historical data and current transaction data cannot be tampered with. The data is stored in the block on the chain and has a hash value. If the block information is modified, its hash value will also change, and the hash values ​​of all blocks following it must also be modified to form a new chain. At the same time, the main chain is still conducting transactions to generate blocks. The modified chain must always generate blocks synchronously with the main chain to ensure that the length of the chain is the same. The cost is too high, just to modify a piece of data.

8. What is anti-DDoS attack

DDoS: Hackers control many people’s computers or mobile phones and allow them to access a website at the same time. Since the bandwidth of the server is limited, a large amount of traffic The influx of data may cause the website to fail to function properly, resulting in losses. However, the blockchain is distributed and there is no central server. If one node fails, other nodes will not be affected. Theoretically, if more than 51% of the nodes are attacked, problems will occur.

9. Definition of main chain

Taking Bitcoin as an example, at a certain point in time, a block is mined by two miners at the same time, and then 6 blocks are generated first. The chain of blocks is the main chain

10. Single chain/multi-chain

Single chain refers to the data structure that handles everything on one chain. The core essence of the multi-chain structure is composed of public chain + N sub-chains. There is only one, but in theory there can be countless sub-chains, and each sub-chain can run one or more DAPP systems

11. Public chain/alliance chain/private chain

Public Chain: Everyone can participate in the blockchain

Alliance chain: Only alliance members are allowed to participate in accounting and query

Private chain: Writing and viewing permissions are only controlled by one person In the hands of the organization.

12. Consensus layer, data layer, etc.

There are six overall structures of the blockchain: data layer, network layer, consensus layer, incentive layer, contract layer, and application layer. Data layer: a layer that records data, belonging to the underlying technology; network layer: a structure for building a blockchain network, which determines how users are organized. Consensus layer: Provides a set of rules to allow everyone to reach agreement on the information received and stored. Incentive layer: Design incentive policies to encourage users to participate in the blockchain ecosystem; Contract layer: Generally referred to as "smart contracts", it is a set of contract systems that can be automatically executed and written according to their own needs. Application layer: Applications on the blockchain, similar to mobile apps. Former Distributed Storage R&D Center

13. Timestamp

The timestamp refers to the total number of seconds from January 1, 1970, 0:00:00:0... to the current time, or Total nanoseconds and other very large numbers. Each block is generated with a timestamp indicating when the block was generated.

14. Block/block header/block body

Block is the basic unit of blockchain, and block header and block body are components of blockchain. The information contained in the block header includes the hash of the previous block, the hash of this block, timestamp, etc. The block body is the detailed data in the block.

15. Merkle tree

Merkle tree, also called binary tree, is a data structure for storing data. The bottom layer is the original data contained in all blocks, and the upper layer is each The hash value of a block, the hash of this layer is combined in pairs to generate a new hash value, forming a new layer, and then upwards layer by layer, until a hash value is generated. Such a structure can be used to quickly compare large amounts of data, and you can quickly find the bottom-level historical data you want without downloading all the data.

16. What is expansion?

The size of a Bitcoin block is about 1M and can save 4,000 transaction records. Expansion means making the block larger so that more data can be stored.

17. What is a chain?

Each block will save the hash of the previous block, creating a relationship between the blocks. This relationship is a chain. Data such as block transaction records and status changes are stored through this chain.

18. Block height

This is not the height mentioned in terms of distance. It refers to the total number of blocks between the block and the first block on the chain. This height indicates which block it is, and is just for identification purposes.

19. Fork

Two blocks were generated at the same time (the transaction information in the block is the same, but the hash value of the block is different), and then in Two chains are forked from these two blocks. Whoever generates 6 blocks from these two links first will be the main chain, and the other chain will be discarded.

20. Ghost Protocol

Mining pools with high computing power can easily generate blocks faster than mining machines with low computing power, resulting in most of the blocks on the blockchain being generated by these mining pools with high computing power. However, the blocks generated by mining machines with low computing power are not stored on the chain because they are slow, and these blocks will be invalid.

The ghost protocol allows blocks that should be invalidated to remain on the chain for a short time, and can also be used as part of the proof of work

.In this way, miners with small computing power will contribute more to the main chain, and large mining pools will not be able to monopolize the confirmation of new blocks.

21. Orphan blocks

As mentioned before, orphan blocks are blocks generated at the same time. One of them forms a chain, and the other does not form a chain. Then this block that does not form a chain is called an orphan block.

22. Uncle block

The orphan block mentioned above, through the ghost protocol, makes it part of the proof of work, then it will not be discarded and will be saved in the main chain superior. This block is the next

23 replay attack

The hacker resends the message that has been sent to the server. Sometimes this can deceive the server into multiple responses.

24. Directed acyclic graph

Also called data set DAG (directed acyclic graph), DAG is an ideal multi-chain data structure. Most of the blockchains mentioned now are single chains, that is, one block is connected to another block, and DAG is multiple blocks connected. The advantage is that several blocks can be generated at the same time, so the network can process a large number of transactions at the same time, and the throughput will definitely increase. However, there are many shortcomings and it is currently in the research stage.

25. What is mining

The mining process is to perform a series of conversions, connections and hash operations on the above six fields, and continue to try them one by one. The random number you are looking for, and finally successfully find a random number that meets the conditions: the value after hashing is smaller than the hash value of the preset difficulty value, then the mining is successful, and the node can broadcast the area to neighboring nodes. block, neighboring nodes receive the block and perform the same operation on the above six fields to verify compliance, and then forward it to other nodes. Other nodes also use the same algorithm to verify. If there are 51% of nodes in the entire network If all verifications are successful, even if this block is truly "mined" successfully, each node will add this block to the end of the previous block, delete the list in the block that is the same as its own record, and resurrect again. the above process. Another thing to mention is that regardless of whether the mining is successful or not, each node will pre-record the reward of 50 Bitcoins and the handling fees of all transactions (total input-total output) in the first item of the transaction list (this is " The most fundamental purpose of "mining" is also the fundamental reason to ensure the long-term stable operation of the blockchain), the output address is the address of this node, but if the mining is unsuccessful, the transaction will be invalidated without any reward. Moreover, this transaction called "production transaction" does not participate in the "mining" calculation.

26. Mining machines/mining farms

Mining machines are computers with various configurations, and computing power is the biggest difference between them. A place where mining machines are concentrated in one place is a mining farm

27. Mining pool

Miners join together to form a team, and the computer group under this team is the mining pool. Mining rewards are distributed based on your own computing power contribution.

28. Mining difficulty and computing power

Mining difficulty is to ensure that the interval between generating blocks is stable within a certain short time, such as Bitcoin’s 10 minutes.

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Block 1. The computing power is the configuration of the mining machine.

29. Verification

When verification in the blockchain is a confirmation of the legality of the transaction, each node will verify the transaction once when the transaction message is propagated between nodes. Whether the transaction is legal. For example, verify whether the syntax of the transaction is correct, whether the transaction amount is greater than 0, whether the entered transaction amount is reasonable, etc. After passing the verification, it will be packaged and handed over to the miners for mining.

30. Transaction broadcast

The node sends information to other nodes through the network.

31. Mining fees

For the blockchain to work non-stop like a perpetual motion machine, miners need to maintain the system. Therefore, the miners must be given favorable fees to make it sustainable.

32. Transaction confirmation

When a transaction occurs, the block recording the transaction will be confirmed for the first time, and will be confirmed in every area on the chain after the block. Block is reconfirmed: When the number of confirmations reaches 6 or more, the transaction is generally considered safe and difficult to tamper with.

33. Double transaction

That is, I have 10 yuan, I use the 10 yuan to buy a pack of cigarettes, and then instantly use the 10 yuan that has not yet been paid. Bought another cup of coffee. So when verifying the transaction, you need to confirm whether the 10 yuan has been spent.

34. UTXO unspent transaction output

It is a data structure containing transaction data and execution code, which can be understood as digital currency that exists but has not yet been consumed.

35. Transactions per second TPS

That is throughput, tps refers to the number of transactions the system can process per second.

36. Wallet

Similar to Alipay, it is used to store digital currencies, and blockchain technology is more secure.

37. Cold wallet/hot wallet

A cold wallet is an offline wallet. The principle is to store it locally and use QR code communication to prevent the private key from touching the Internet. A hot wallet is an online wallet. The principle is to encrypt the private key and store it on the server. When it is needed, it is downloaded from the server and decrypted on the browser side.

38. Software wallet/ Hardware Wallet

A software wallet is a computer program. Generally speaking, a software wallet is a program that interacts with the blockchain and allows users to receive, store, and send digital currencies and can store multiple keys. Hardware wallets are smart devices that specialize in handling digital currencies.

39. Airdrop

The project sends digital currency to each user’s wallet address.

40. Mapping

Mapping is related to the issuance of blockchain currency and is a mapping between chains. For example, there are some blockchain companies that have not completed the development of the chain in the early stage. They rely on Ethereum to issue their own currency. The issuance and transactions of the early currency are all operated on Ethereum. With the development of the company, the company's own chain development has been completed. The company wants to map all the previous information on Ethereum to its own chain. This process is mapping.

41. Position

Refers to the ratio of the investor’s actual investment to the actual investment funds

42. Full position

Buy with all funds Enter Bitcoin

43. Reduce the position

Sell some of the Bitcoins, but not all of them

44. Heavy positions

Compared with Bitcoin, Bitcoin accounts for a larger share of funds

45. Short position

Compared with Bitcoin, the share of funds is larger

46. Short position

Sell all the Bitcoins you hold and convert them all into funds

47. Stop loss

After obtaining a certain profit, sell the Bitcoin held to keep the profit

48. Stop loss

After losses reach a certain level, sell the Bitcoins you hold to prevent further losses

49. Bull market

Prices continue to rise and the outlook is optimistic

50. Bear market

The price continues to fall, and the outlook is bleak

51. Long (long)

The buyer believes that the currency price will rise in the future, buys the currency, and waits for the currency price After rising, sell at a high price to take profits

52. Short position (short selling)

The seller believes that the currency price will fall in the future, and sells the currency he holds (or borrows it from the trading platform) (coin) sell, wait for the price of the currency to fall, buy at a low price to take profits

53. Open a position

Buy virtual currencies such as Bitcoin

54 .cover position

Buy Bitcoin and other virtual currencies in batches, for example: buy 1 BTC first, then buy 1 BTC

55. Full position

Transfer all funds Buy a certain virtual currency all at once

56. Rebound

When the currency price falls, the price rebounds and adjusts because it falls too fast

57. Consolidation (Sideways)

The price fluctuation is small and the currency price is stable

58. Yin fall

The currency price declines slowly

59 . Diving (Waterfall)

The currency price fell rapidly and to a large extent

60. Cutting meat

After buying Bitcoin, the currency price fell. In order to avoid losses Expand and sell Bitcoin at a loss. Or after borrowing the currency to go short, the currency price rises, and you buy Bitcoin at a loss

61. Hold on

Expect the currency price to rise, but unexpectedly the currency price falls after buying; or expect the currency price fell, but unexpectedly, after selling, the currency price rose

62. Unwinding

After buying Bitcoin, the currency price fell, causing a temporary book loss, but then the currency price rebounded and the loss was reversed To make a profit

63. Go short

After selling Bitcoin because of the bearish market outlook, the price of the currency continued to rise, and I was unable to buy it in time, so I failed to make a profit

64. Overbought

The currency price continues to rise to a certain height, the buyer's power is basically exhausted, and the currency price is about to fall

65. Oversold

The currency price continues to fall to a certain low, the seller's power has basically been exhausted, and the currency price is about to rise

66. Lure bulls

The currency price has been consolidating for a long time, and it is more likely to fall. Most of the short sellers have sold Bitcoin, and suddenly the short sellers pulled up the price of the currency, inducing the long parties to think that the price of the currency will rise and buy one after another. As a result, the short sellers suppressed the price of the currency, causing the long parties to get stuck

67. Lure shorts

After buying Bitcoin, bulls deliberately suppress the price of the currency, making short sellers think that the price of the currency will fall and sell them one after another. As a result, they fall into the trap of bulls

68. What is NFT

The full name of NFT is "Non-Fungible Tokens", which is a non-fungible token. Simply put, it is an indivisible token on the blockchain. Copyright certificate is mainly used to confirm and transfer the rights of digital assets. The difference from digital currency is that it is unique and indivisible. In essence, it is a unique digital asset.

69. What is the Metaverse

The Metaverse is a collection of virtual time and space, consisting of a series of augmented reality (AR), virtual reality (VR) and the Internet (Internet). Digital currency carries the function of value transfer in this world.

70. What is DeFi

DeFi, the full name is Decentralized Finance, which is "decentralized finance" or "distributed finance". "Decentralized finance", as opposed to traditional centralized finance, refers to various financial applications based on open decentralized networks. The goal is to establish a multi-level financial system based on blockchain technology and cryptocurrency. As a basis, re-create and improve the existing financial system

71. Who is Satoshi Nakamoto?

72. Bitcoin is different from Q Coin

Bitcoin is a decentralized digital asset with no issuing entity. Q Coin is an electronic currency issued by Tencent. It is similar to electronic points, but it is not actually a currency. Q Coin requires a centralized issuing institution. Q Coin can only be recognized and used because of the credit endorsement of Tencent. The scope of use is also limited to Tencent's games and services. The value of Q coins is entirely based on people's trust in Tencent.

Bitcoin is not issued through a centralized institution, but it is widely recognized around the world because Bitcoin can self-certify its trust. The issuance and circulation of Bitcoin are jointly accounted for by miners across the entire network, and are not A central authority is also needed to ensure that no one can tamper with the ledger.

73. What is a mining machine?

Taking Bitcoin as an example, a Bitcoin mining machine is a professional equipment that competes for accounting rights by running a large amount of calculations to obtain new Bitcoin rewards. It is generally composed of a mining chip, a heat sink and a fan, and only performs A single calculation program consumes a lot of power. Mining is actually a competition between miners for computing power. Miners with more computing power have a greater probability of mining Bitcoin. As the computing power of the entire network increases, it becomes increasingly difficult to mine bits with traditional equipment (CPU, GPU), and people have developed chips specifically for mining. The chip is the core part of the mining machine. The operation of the chip will generate a large amount of heat. In order to dissipate heat, Bitcoin mining machines are generally equipped with heat sinks and fans. Users download Bitcoin mining software on their computers, use the software to assign tasks to each mining machine, and then start mining. Each currency has a different algorithm and requires different mining machines.

74. What is quantitative trading?

Quantitative trading, sometimes also called automated trading, refers to the use of advanced mathematical models to replace human subjective judgments, which greatly reduces the impact of investor sentiment fluctuations and avoids extreme fanaticism or pessimism in the market. make irrational investment decisions. quantityThere are many types of cross-platform trading, including cross-platform trading, trend trading, hedging, etc. Cross-platform trading means that when the price difference between different target platforms reaches a certain amount, sell on the platform with a higher price and buy on the platform with a lower price.

75. Blockchain asset over-the-counter trading

Over-the-counter trading is also called OTC trading. Users need to find their own counterparties and do not need to match the transaction. The transaction price is determined by negotiation between the two parties. The two parties can fully communicate through face-to-face negotiation or telephone communication.

76. What is a timestamp?

The blockchain ensures that each block is connected sequentially through timestamps. Timestamps enable every piece of data on the blockchain to have a time stamp. Simply put, timestamps prove when something happened on the blockchain and cannot be tampered with by anyone.

77. What is a blockchain fork?

Upgrading software in a centralized system is very simple, just click "Upgrade" in the app store. However, in decentralized systems such as blockchain, "upgrading" is not that simple, and a disagreement may even cause a blockchain fork. Simply put, a fork refers to a disagreement when the blockchain is "upgraded", resulting in a fork in the blockchain. Because there is no centralized organization, every code upgrade of digital assets such as Bitcoin needs to be unanimously recognized by the Bitcoin community. If the Bitcoin community cannot reach an agreement, the blockchain is likely to form a fork.

78. Soft fork and hard fork

Hard fork means that when the Bitcoin code changes, the old nodes refuse to accept the blocks created by the new nodes. Blocks that do not comply with the original rules will be ignored, and miners will follow the original rules and create new blocks after the last block they verified. A soft fork means that old nodes are not aware of the changes to the Bitcoin code and continue to accept blocks created by new nodes. Miners may work on blocks they have no understanding of, or validation of. Both soft forks and hard forks are "backwards compatible" to ensure that new nodes can verify the blockchain from scratch. Backward compatibility means that new software accepts data or code generated by old software. For example, Windows 10 can run Windows XP applications. Soft forks can also be "forward compatible".

79. Classification and application of blockchain projects

Judging from the current mainstream blockchain projects, blockchain projects mainly fall into four categories: Category 1: Currency; The second category: platform category; the third category: application category; the fourth category: asset tokenization.

80. USDT against the US dollar

USDT is Tether USD, a token launched by Tether that is against the US dollar (USD). 1USDT=1 US dollar, users can use USDT and USD for 1:1 exchange at any time. Tether implements a 1:1 reserve guarantee system, that is, each USDT token will have a reserve guarantee of 1 US dollar, which supports the stability of the USDT price. The unit price of a certain digital asset is USDT, which is equivalent to its unit price in US dollars (USD).

81. Altcoins and alternative coins

Altcoins refer to blockchain assets that use the Bitcoin code as a template and make some modifications to its underlying technology blockchain, among which Those with technological innovations or improvements are also called alternative coins. Because the Bitcoin code is open source, the cost of plagiarism in Bitcoin is very low. You can even generate a brand new blockchain by simply copying the Bitcoin code and modifying some parameters.

82. Three major exchanges

Binance

Okex

Huobi

83. Market software

Mytoken

Non-small account

84. Information website

Babbitt

Golden Finance

Coin World News

85. Blockchain Browser

BTC

ETH

BCH

< p> LTC

ETC

86. Wallet

Imtoken

Bitpie

MetaMask (Little Fox)

87. Decentralized exchange

uniswap

88. NFT exchange

< p> Opensea

Super Rare

89. Ladder

Bring your own, buy a reliable ladder

90. Platform currency

Digital currency issued by the platform, used to deduct handling fees, transactions, etc.

91. Bull market, bear market

Bull market: rising market

Bear market : Falling market

92. Blockchain 1.0

A currency trading system based on distributed ledgers, represented by Bitcoin

93. Blockchain 2.0 < /p>

Represented by Ethereum (smart contract)The contract blockchain technology is 2.0

94. Blockchain 3.0

In the era of intelligent Internet of Things, it goes beyond the financial field to provide decentralized solutions for various industries

95. Smart Contract

Smart Contract is a computer protocol designed to disseminate, verify or execute contracts in an information-based manner. Simply put, an electronic contract is set in advance. Once both parties Confirm and the contract is automatically executed.

96. What is a token?

The token economy is an economic system with Token as the only reference standard, which is equivalent to a pass. If you own Token, you have rights and interests, and you have the right to speak.

97. The difference between big data and blockchain

Big data is the means of production, AI is the new productivity, and blockchain It is a new production relationship. Big data refers to a collection of data that cannot be captured, managed and processed within a certain time range using conventional software tools. It is a massive, high-growth and high-volume data set that requires new processing models to have stronger decision-making power, insight discovery and process optimization capabilities. Diverse information assets. Simply understood, big data is massive data accumulated over a long period of time and cannot be obtained in the short term. Blockchain can be used as a way to obtain big data, but it cannot replace big data. Big data is only used as a medium running in the blockchain and has no absolute technical performance, so the two cannot be confused. (A simple understanding of production relations is labor exchange and consumption relations. The core lies in productivity, and the core of productivity lies in production tools)

98. What is ICO?

ICO, Initial Coin Offering, is the initial public offering of tokens, which is crowdfunding in the blockchain digital currency industry. It is the most popular topic and investment trend in 2017, and the country launched a regulatory plan on September 4. Speaking of ICO, people will think of IPO, and the two are fundamentally different.

99. Five characteristics of digital currency

The first characteristic: decentralization

The second characteristic: having open source code

The third feature: independent electronic wallet

The fourth feature: constant issuance

The fifth feature: global circulation

100. What is decentralization?

It has no issuer, does not belong to any institution or country, and is a publicly issued currency designed, developed and stored on the Internet by Internet network experts.

101. What is measurement (scarcity)?

Once the total amount of issuance is set, it is permanently fixed, cannot be changed, cannot be over-issued at will, and is subject to global Internet supervision. Because the difficulty of mining and mining changes over time, the longer the time, the greater the difficulty of mining, and the fewer coins are mined, so it is scarce.

102. What is open source code?

The alphanumeric code is stored on the Internet. Anyone can find out the source code of its design, everyone can participate, can mine it, and it is open to the world.

103. What is anonymous transaction? Private wallet private?

Everyone can register and download the wallet online without real-name authentication. It is completely composed of encrypted digital codes. It can be sent and traded globally in real-time point-to-point without resorting to banks or any institutions. It cannot be traced by anyone without my authorization. ,Inquire.

104. What is a contract transaction?

Contract trading refers to an agreement between buyers and sellers to receive a certain amount of an asset at a specified price at a certain time in the future. The objects of contract trading are standardized contracts formulated by the exchange. The exchange stipulates standardized information such as commodity type, transaction time, quantity, etc. A contract represents the rights and obligations of the buyer and seller.

105. Digital Currency Industry Chain

Chip manufacturers, mining machine manufacturers, and mining machine agents mine and export to exchanges for retail investors to speculate in coins< /p>

106. Who is Bei Feng?

Beifeng: Digital currency value investor

Investment style: Steady

Establish a community: Beidou Community (high-quality price investment community)

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107. Beidou Investment Strategy

Combining long-term and short-term, focusing on price investment, no touching contracts, no short-term play

Reasonable layout, Scientific operation, prudent and conservative, earn periodic money

108. Beifeng?

Welcome currency friends and seek common development