Bitcoin's block is divided into two parts
Q: What is bitcoin bifurcation and why
A: the reason why bitcoin bifurcates is that the underlying technology of bitcoin is blockchain. Some people begin to think that bitcoin's block capacity is too small and there are always congestion. So they ask for bitcoin's upgrade and expansion. Some people think that bitcoin's function is too single and its future development is not optimistic, So these people ask bitcoin to have the function of building DAPP (decentralized application), and some support it, while others oppose it. This kind of divergence can be understood as the bifurcation of bitcoin
Q: the classification of bitcoin bifurcation
A: there are two kinds of bifurcations of bitcoin, one is soft bifurcations, the other is hard bifurcations, so what is soft bifurcations
Q: the formation principle of soft bifurcation
A: soft fork refers to optimizing and modifying bugs in the original bitcoin network to improve the capacity of the block, such as 2m, 4m or 8m, 16m. The segwit lightning network is the mainstream solution, which is equivalent to a traffic jam on the main road, and the development team will build an auxiliary road to help the main road to divert congestion
this is a mild solution, which can make the original bitcoin network compatible with the network after soft bifurcation, and the main transaction of bitcoin is still on the main chain
Q: disadvantages of soft bifurcation
A: of course, there are disadvantages of soft bifurcation, that is, it can only solve the temporary congestion problem, and after the implementation of soft bifurcation, it can only keep the network unobstructed for a few years. In the future, it needs continuous expansion, which has an impact on the stability of the system
Q: what is hard bifurcation and its formation principle
A: another solution is hard fork, which means to upgrade the bitcoin system again, change the height of the block completely in the form of code, and take bitcoin unlimited as the mainstream solution. Generally speaking, it is equivalent to a traffic jam on the main road. We directly abandon this road and find a place to build a three-dimensional transportation hub on the ground and underground. All new cars use this transportation system, which changes the block size of the bitcoin network and optimizes the processing speed of the network
Q: what are the disadvantages of hard bifurcation
A: but hard bifurcations also have disadvantages, that is, they are not compatible with the original bitcoin system, which requires all people in the bitcoin network to support hard bifurcations. If some people do not support hard bifurcations, there will be two versions of bitcoin network, which will proce two bitcoins. The blockchains of the two bitcoins form a competitive relationship, This kind of internal friction will lead to greater price volatility and uncertainty of bitcoin's future situation
Q: a classic case of bitcoin bifurcation
A: Eth and etc are typical cases of hard bifurcation. The Dao project is a crowdfunding project initiated by slock.it, a blockchain Internet of things company. It was officially released in May 2016. As of June of that year, the Dao project has raised more than $160 million. It wasn't long before the Dao project was targeted by hackers. Because of the huge loopholes in the smart contract, the Dao project was transferred to ether coin with a market value of 50 million US dollars
in order to recover the assets of many investors and stop the panic, vitalik buterin, the founder of Ethereum, finally proposed the idea of hard bifurcation, and finally completed the hard bifurcation in block 1920000 of Ethereum through a majority vote of the community, rolling back all the Ethereum coins occupied by hackers
even though Ethereum hard bifurcates into two chains, some people who believe in the tamper proof property of blockchain still stay on the original chain of Ethereum classic. Today, Ethereum (ETH) and Ethereum classic (etc) are ranked in the top 20 in the global cryptocurrency market value, which is one of the reasons why they are regarded as classic cases in the field of hard bifurcations
Q: the difference and influence between soft bifurcation and hard bifurcation
A: for users, soft forking will not proce new bitcoin currency. They only need to understand the transaction mode and K-line characteristics of bitcoin. They only need a mainstream wallet of bitcoin
hard bifurcation will generate new currencies, and there may be more than one new currency. Once the core code of bitcoin is modified and the core code of bitcoin is reconstructed, there may be a second time for the first time, and btc1 and btc23456789 may all happen. Users will be confused. Which kind of coin would be better for me to trade? What kind of bitcoin do I use to pay for a large circulation range? In short, users with dyschooia will crash. Moreover, users need to download wallets of different hard bifurcated systems, which brings complex operation to save and pay bitcoin
however, correspondingly, the user's right to choose has also increased. You can choose the bitcoin code developed by the development team you like and trust. When the bifurcations of bitcoin are not clear, when the soft bifurcations start to activate and the computing power starts to vote, the best way for users to deal with it is to wait and see. Don't recharge and extract bitcoin in the process of bifurcation
in addition, soft fork will change the settlement mode of bitcoin all nodes, and some small settlement will be confirmed by the third party node, namely settlement channel. The settlement channel may incur part of the service charge. Similar to the role and business model of UnionPay
what is bitcoin bifurcation? The difference and influence of soft bifurcation and hard bifurcation
The capacity of a block in bitcoin is 1m (megabytes). A transaction is between 250 and 500 bytes
according to this algorithm, a block contains about 4194.3 transactions
the confirmation time of a block in bitcoin is 10 minutes, so the seven transactions that a block can process per second may sometimes be less than seven
What are the consequences The bifurcations of
bitcoin are divided into hard bifurcations and soft bifurcations
hard fork means that when the block format or transaction format of bitcoin changes, the UN upgraded nodes refuse to verify the blocks proced by the upgraded nodes
the upgraded nodes can verify the blocks proced by the non upgraded nodes, and they continue the chain they think is correct, so they are divided into two chains
What is soft bifurcationsoft bifurcation means that when the data structure of bitcoin transaction changes,
UN upgraded nodes can verify the blocks proced by upgraded nodes,
and upgraded nodes can also verify the blocks proced by UN upgraded nodes
In the discussion of blockchain, bitcoin and other digital currencies, we often hear the word "bifurcation". So what is bifurcation? What is the effect of bifurcation
blockchain
before talking about bifurcation, popularize a little knowledge of blockchain, so as to help us understand what bifurcation is more easily (if you don't have any concept of blockchain, please read my previous articles, which are all popular words to help you understand what blockchain is)
blockchain, as the name suggests, is a chain composed of blocks. Of course, this kind of chain is just a figurative metaphor. To put it bluntly, data blocks are connected orderly. In bitcoin, the transaction records of bitcoin are stored in the block. The size of the block and the space occupied by the transaction records determine how many transactions can be stored in a block. These transaction records are packaged into blocks, and then the blocks are connected one by one to form a blockchain
We know that bitcoin software, like other software, needs to be updated and modified regularly in order to make it better. So a new version will appear, but not everyone will download the new version, so one miner will run the old version, and some will run the new version. If the old and new versions are not compatible, the blockchain will bifurcate. Because there may be differences between the version blocks and the old version blocks, they cannot be connected to the same blockchain, so there will be two or even more chains, which is called bifurcation
soft forking
soft forking refers to that when the new consensus rules are released, nodes that have not been upgraded will proce illegal blocks because they do not know the new consensus rules, resulting in temporary forking. This kind of bifurcation will be graally repaired with the upgrading of nodes
hard fork
hard fork refers to the permanent divergence of the blockchain. After the release of the new consensus rules, some nodes that have not been upgraded cannot verify the blocks proced by the upgraded nodes, and usually hard fork occurs. Therefore, in the field of digital currency, hard bifurcation often leads to the emergence of new currencies. For example, the hard bifurcation of Ethereum led to the emergence of eth
What is bifurcation? What is bitcoin bifurcationexisting definition:
[lightning definition] hard fork refers to that when the bitcoin block format or transaction format (this is the widely spread "consensus" (should be part of the agreement consensus)) changes, the UN upgraded node refuses to verify the blocks proced by the upgraded node, but the upgraded node can verify the blocks proced by the UN upgraded node, Then we continue the chain that we think is right, so we divide it into two chains< A permanent divergence in the block chain, commonly occurs when non upgraded nodes can't validate blocks created by upgraded nodes that follow new consensus rules, The UN upgraded node can verify the blocks proced by the upgraded node, and the upgraded node can also verify the blocks proced by the UN upgraded node<
a temporary fork in the block chain which commonly occurs when miners using non upgraded nodes vialate a new consensus rule their nodes don't know about.
I don't think we can say which definition is right or wrong. The specific definition can be summed up according to the differences between the two that have been widely agreed in the community, and it doesn't need authority to specify
hard fork: without forward compatibility, the previous version will be unusable and need to be upgraded
soft fork: it has good compatibility, at least some functions of previous versions are available, and can not be upgraded
hard branching: at the level of blockchain, there will be two branching chains, one old chain and one new chain
soft bifurcation: there are no forked chains at the level of blockchain, but only the blocks that make up the chain, including new blocks and old blocks
hard forking: it is necessary to agree with the forking upgrade at a certain time point, and those who do not agree will enter the old chain
soft bifurcation: for quite a long time, it is allowed to continue to use the original version to generate old blocks and coexist with new blocks without upgrading
does each node have complete blockchain data? You mean a user node? A user node needs to keep the of the block head of the longest workload proof chain, so it knows the data of all the block heads. It can move forward to know all the data on the block chain, but not all of them are saved. A block header is very small, only 80 bytes, which can be saved completely, because the generation of nodes is very slow. Even with the passage of time, the amount is not too large now.
the reason why we need six confirmations is that it is more difficult to obtain the optimal solution (to prevent single node fraud). One block may also be able to get an optimal solution, and it is basically impossible to get six blocks together. It has nothing to do with bifurcation
the application of AI Artificial Intelligence has given birth to service robots. Service robot covers a wide range, including medical, logistics, agriculture, commerce, civil and other aspects. Through the use of AI technology, through data collection, analysis and calculation, service robot can learn human behavior, understand human intention and cooperate with human< According to IFR calculation, the global robot market in 2017 reached US $23.2 billion, of which the instrial robot market reached US $14.7 billion, with 85 robots per 10000 people. The rest is the service robot market, with a market size of US $8.5 billion
by 2030, the robot market is expected to reach 102.8 billion US dollars, about 20% of the smartphone market. Service robots will reach US $56.1 billion, maintaining a compound annual growth rate of 16%, which is faster than that of instrial robots. After two years of rapid development in 2017 and 2018, the number and amount of financing in the artificial intelligence instry in 2019 showed a precipice like decline, capital concentrated in the head enterprises one after another, and the survival of small companies was difficult. Even the head companies have encountered obstacles on the way to listing, and the news of layoffs is constantly shrinking. From the external environment, everyone's life is not easy
cheetah global think tank believes that the future of artificial intelligence is not always full of flowers and applause. If artificial intelligence really wants to lead the next decade, it must be that practitioners abandon the flashy valuation, focus on procts, take root in technology, and strive for the realization of the scene overnight
pencil recommendation:
after two years of rapid development in 2017 and 2018, the number and amount of financing in the artificial intelligence instry will show a precipice like decline in 2019, capital will be concentrated in the head enterprises one after another, and small companies will have a hard time surviving. Even the head companies have encountered obstacles on the way to listing, and the news of layoffs is constantly shrinking. From the external environment, everyone's life is not easy
cheetah global think tank believes that the future of artificial intelligence is not always full of flowers and applause. If artificial intelligence really wants to lead the next decade, it must be that practitioners abandon the flashy valuation, focus on procts, take root in technology, and strive for the realization of the scene overnight<
source | cheetah global think tank
authors | Zhou Ting, pan Xinghan, Li Xin, Xiao Haiyan
report guidance | Han Jianqi, Zhou Ting
I. foreword
I. foreword
if you want to establish a biography for artificial intelligence, 2019 is destined to be a different year of seeking normality. Difficult and awkward, rooted and stick to, multiple complex emotions interweave in this year
difficult! After two years of rapid development in 2017 and 2018, the number and amount of financing in the artificial intelligence instry in 2019 showed a precipice like decline, capital concentrated in the head enterprises one after another, and the survival of small companies was difficult. Even the head companies have encountered obstacles on the way to listing, and the news of layoffs is constantly shrinking. From the external environment, everyone's life is not easy
awkward! 2019 is also a year of disillusionment. Artificial intelligence was once seen as the next opportunity to create a 10 billion dollar giant after the mobile Internet. But in 2019, before the arrival of general artificial intelligence, it is not as versatile as people think. The public's enthusiasm for artificial intelligence has also decreased a lot. How many people are still concerned about the man-machine battle between Li Shishi and Korean go AI "Han Dou" in December this year<
we should cultivate grain, build high walls and become king slowly. Cheetah global think tank believes that the future of artificial intelligence is not always full of flowers and applause. If artificial intelligence really wants to lead the next decade, practitioners must abandon the flashy valuation, focus on procts, take root in technology and seize the day in the scene
next, cheetah global think tank will comprehensively scan the development of artificial intelligence in 2019 from the aspects of policy, capital, technology, intelligent service robots, AI application scenarios, etc., trying to show you a more comprehensive commercialization of artificial intelligence in 2019.
2. Unlike all currencies, bitcoin does not rely on specific currency institutions. It is generated by a large number of calculations based on specific algorithms. Bitcoin economy uses the distributed database composed of many nodes in the whole P2P network to confirm and record all transactions, and uses the design of cryptography to ensure the security of all aspects of currency circulation. The decentralized nature and algorithm of P2P can ensure that it is impossible to artificially manipulate the value of bitcoin through mass proction. The design based on cryptography can make bitcoin only be transferred or paid by the real owner. This also ensures the anonymity of money ownership and circulation transactions. The biggest difference between bitcoin and other virtual currencies is that the total amount of bitcoin is very limited and it has scarcity
warm tips: ① the above contents are for reference only, without any suggestions. The relevant procts are issued and managed by the corresponding platform or company, and our bank does not undertake the responsibilities of investment, cashing and risk management of the procts. ② There are risks in entering the market, so investment should be cautious. Before making any investment, you should make sure that you fully understand the nature of the investment and the risks involved in the proct. After a detailed understanding and careful evaluation of the proct, you can judge whether to participate in the transaction
response time: March 12, 2021. Please refer to the official website of Ping An Bank for the latest business changes
[Ping An Bank I know] want to know more? Come and see "Ping An Bank I know" ~
https://b.pingan.com.cn/paim/iknow/index.html