Bitcoin improvement technology

1. blockchain. The following is a detailed introction of bitcoin from AEX exchange coin network:
the concept of bitcoin was first proposed by Nakamoto in 2009. According to Nakamoto's idea, the open source software was designed and released, and the P2P network on it was built. Bitcoin is a kind of P2P digital currency. Point to point transmission means a decentralized payment system. Unlike most 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 of P2P and the algorithm itself can ensure that it is impossible to artificially manipulate the value of bitcoin by mass manufacturing. 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 a strong scarcity. The monetary system used to have no more than 10.5 million in four years, after which the total number will be permanently limited to 21 million. Bitcoin can be cashed and converted into the currency of most countries. Users can use bitcoin to buy some virtual goods, such as clothes, hats and equipment in online games. As long as someone accepts it, they can also use bitcoin to buy real-life goods.

2.

bitcoin:

is an electronic currency proced by open-source P2P software. Digital currency is a kind of network virtual currency. Bitcoin is also paraphrased as "bitcoin."

bitcoin does not rely on specific currency institutions to issue, it is generated through a large number of calculations of specific algorithms. Bitcoin economy uses a distributed database composed of many nodes in the whole P2P network to confirm and record all transactions. The decentralized nature and algorithm of P2P can ensure that it is impossible to artificially manipulate the value of bitcoin through mass proction. Since bitcoin was born with an algorithm, it was stipulated from the beginning that all bitcoins in the world would not exceed 21 million bitcoins. Because bitcoin is not regulated by the government, it is not subject to inflation constraints and external control

people use the computing power of CPU and CpG to "mine" to unlock the new bitcoin. To put it figuratively: bitcoin is equivalent to a gold mine created by people using computers. The setting of this gold mine is limited. The upper limit is 21 million bitcoin. People dig out bitcoin one by one just like miners using the principle of CPU computing

the principle of bitcoin, the distributed characteristics of P2P and the design without central management mechanism ensure that no institution can control the value of bitcoin or create inflation. This decentralization makes it a more secure and value preserving "virtual currency"

But in fact, netizens, as well as traders and investors of bitcoin, do not see one of the biggest drawbacks of bitcoin: bitcoin is not unique

What do you mean? We think that bitcoin is the only one with a cap of 21 million, which seems to have the function of preserving value. But the principle of bitcoin algorithm is not only applicable to "bitcoin", a kind of currency from Japan. Every computer engineer can develop the corresponding algorithm, make a man-made gold mine, and control its upper limit. In this way, every country, every region and every person can develop countless algorithms. Then the market will be full of virtual currencies such as "bitcoin a", "bitcoin B", "bitcoin C", "bitcoin D", and so on. By that time, who are you going to invest in? You can create your own currency

this hidden danger is not a dream. In fact, it has already started. You can log on bitcoin's official website in China. You will find that in addition to bitcoin, there is now another kind of thing called "Yuanbao coin". This is an algorithm similar to bitcoin developed by a Chinese development team. It also has the same upper limit. The same people can't control it and dig Yuanbao coin out through "mining"

if they can do this, I believe many computer workers can also write their own "Yuan Bao coin", "gold and silver coin", "China bitcoin" and "Shanghai bitcoin". Bitcoin, as the first code to appear, has no credit support from the Central Bank of any country. It has value only because of the scarcity of 21 million. In fact, this scarcity does not exist, because everyone can develop the virtual currency code, and then people from all over the world can mine it. So what's the price of bitcoin? There are limited kinds of metals on earth, so each metal has different value according to its quantity and scarcity. But the bitcoin like code in the network world is infinite. As long as people are willing, they can create unlimited kinds of bitcoin code. Tell me, is bitcoin still valuable

blockchain Technology:

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

the essence of blockchain is to achieve the goal of decentralization and disintermediation through a new generation of data technology, so as to transmit value more transparently and efficiently. This kind of point-to-point verification will proce a new network "basic protocol" which is different from TCP / IP in the Internet era

blockchain shows us a world in which all assets will be digitized. In a valuable Internet, the transfer of assets will be as fast, convenient and cheap as the transmission of information today

the significance of blockchain is not the wealth of digital currency, but the value transmission of its technology itself. Therefore, Ma Yun has repeatedly separated blockchain from digital currency, and stressed that the extent to which blockchain technology will change the world is beyond people's imagination

difference:

blockchain is a technology, based on blockchain technology, there can be many applications

bitcoin: is one of the most popular and well-known applications

the content is for reference only, only represents personal views, and does not make any suggestions

3. Hanging order is the number of orders waiting to be bought and sold behind the five trading prices transmitted from the exchange ring the market trading period. Together with five trading prices, these ten data constitute the most original public data in the whole trading system

4. The water army is the best. Tong Chen.

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6. The real network,

7. The bottom layer mainly has asymmetric encryption, consensus and other technologies, the upper layer provides support for point-to-point network, and the main core is the difficulty of large prime number decomposition

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9. The advantage of blockchain is that it can simplify the transaction process, provide more reliable transaction records, and has global uniformity and openness. Once the data is put into storage, it cannot be deleted or tampered with. Because of this advantage, more and more enterprises and businesses participate in the use of blockchain technology to promote financial trade
domestic giants such as Wanda, Internet, Tencent, Alibaba and LETV have all started to test the blockchain project. China post is in the forefront of using blockchain technology, and has developed a set of asset custody system based on blockchain technology in cooperation with IBM; Puyin group launched the tea based digital currency Puyin.