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Assets after blockchain bifurcation

Publish: 2021-05-24 02:15:45
1.

a brief history of etheric Classics (etc)

etheric classics began with an unfortunate event

in May 2016, the decentralized autonomous organization (DAO) held a token sale with the goal of establishing a blockchain based venture capital to fund future decentralized applications (dapps) in the Ethereum ecosystem

basically, Dao is a complex smart contract that operates in a decentralized way - computer code that automatically performs tasks between multiple parties when conditions are met

despite its ambitious goals and successful token sales, Dao's code has a major vulnerability that allows attackers to steal eth from decentralized organizations

the attacker took advantage of this vulnerability in June 2016, triggering the infamous Dao hacking event, and maliciously stole eth worth about US $50 million

there is no doubt that Dao hacking has shocked Ethereum community and made eth price drop from $20 to $13

after the Dao hacking, the Ethereum community has to choose from three options

< UL >
  • do nothing and try to bear the consequences of the attack

  • start soft bifurcation to recover funds

  • deploy a hard fork to recover the lost eth

  • both soft and hard bifurcations are significant network upgrades. However, soft fork allows users who are not upgraded to communicate with upgraded users, while hard fork is not backward compatible with previous versions

    as developers realize that deploying soft forks will expose the network to distributed denial of service (DDoS) attacks, Ethereum community decides to initiate hard forks to recover the funds lost in Dao hacking attacks

    although this scheme is supported by most people, a small number of people in Ethereum community oppose it. They think that "code is the law" and blockchain network should be unchangeable

    the failure of both sides to reach an agreement on the solution eventually led to the fragmentation of Ethereum blockchain

    those who tried to recover the lost eth chose the hard fork and opened the Ethereum (ETH) blockchain as we know it today, while another group stayed on the original Ethereum classic (etc) chain

    what problems does ethereal classic solve

    Ethernet classic (etc) is a blockchain platform that allows developers to deploy smart contracts and dapps

    although this function is the same as Ethereum (ETH), etc blockchain has two main differences

    first of all, Ethereum classic community opposes tampering with distributed ledger and supports the view that "blockchain network cannot and should not be modified"

    secondly, although there is no rigid upper limit on the total supply of eth, it is allowed to create 230 million etc at most by adopting the monetary policy of constant supply

    as a bonus item, ethereal classic launched Atlantis hard bifurcation last year to increase the interaction with Ethereum and improve the privacy protection of transactions through ZK snarks

    the trading platforms recommended by ethereal classic etc are: Fire coin, okex, AAX, etc

    2. Forking is different from ordinary upgrading. Ordinary upgrading does not affect agreement consensus before and after upgrading, and generally does not need the participation of community consensus or computing consensus. According to the modification of the protocol, bifurcation can be divided into soft bifurcation and hard bifurcation

    existing 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
    3. I transfer bitcoin to you. Do I still have bitcoin in my hand
    the fourth feature of blockchain assets is that they cannot be copied. The transmission of information on the Internet is . I sent a very interesting picture to fire coin Niuniu. The network copied the picture in my hand to Niuniu. It wasn't really taken away from me. I still have this picture in my mobile phone
    right on the Internet has always been a big problem. Words, pictures and images are easy to , which brings great trouble to their right owners
    the reason why blockchain assets can become assets is that they cannot be copied. It can be delivered through encryption rather than ing. When I send a block chain asset worth 1000 yuan to Niuniu, the 1000 yuan asset will be transferred from my account to Niuniu's account, and I no longer own the 1000 yuan asset. Non replicability is an important factor to ensure that it becomes an asset.
    4. According to reports, the latest data shows that China's total blockchain investment in the first quarter of 2018 was 681 million yuan
    according to the report,. According to the data from third-party research institutions, according to incomplete statistics, investment institutions invested 1.271 billion yuan in the field of blockchain last year and made 100 investments. In the first quarter of 2018, there were 58 blockchain investment events, with a total investment of 681 million yuan
    since last year, the concept of blockchain has been favored by capital and regarded as another "wind outlet" after the sharing economy and artificial intelligence. Relevant experts said that in order to truly release the development potential of blockchain, on the one hand, it needs to cross the "threshold" of reliability and security, privacy protection, cost rection and other underlying technologies in the context of large-scale transactions
    according to experts, generally speaking, blockchain is a public account book that can be trusted, tamper proof and non repudiation. It is highly transparent, so it can fully realize multilateral mutual trust. One of the best things about blockchain is to solve the problem of reliable data, so that the digital world can be as real as the physical world
    content source: bit 110
    5. The reason why blockchain assets can become assets is that they are not replicable.
    6. Not controlled by single person or organization, high safety factor, records can not be tampered, transaction speed is slow
    7. Not yet, you can learn Java and big data, HTML5
    8. What is blockchain bifurcation? Will bifurcation cause my bitcoin to split in two
    it's very easy to upgrade the software in the centralized system. Click "upgrade" in the app store. However, in decentralized systems such as blockchain, "upgrade" is not so simple, and may even result in the bifurcation of blockchain
    in short, bifurcation refers to the divergence of opinions ring the "upgrade" of the blockchain, which leads to the bifurcation of the blockchain. Because there is no centralized organization, every code upgrade of digital assets such as bitcoin needs to be approved by the bitcoin community. If the bitcoin community fails to reach an agreement, the blockchain is likely to form a fork
    taking bitcoin as an example, in July 2017, in order to solve the congestion problem of bitcoin blockchain, some bitcoin enthusiasts proposed bitcoin cash bifurcation scheme, resulting in bitcoin blockchain split in two
    according to whether the forked blockchain is compatible with the old blockchain, the forking can be divided into "hard forking" and "soft forking".
    9. If the assets on the chain, the right of the assets, after the right can transfer the assets as a whole. In addition, you can split the assets on the chain to make the assets more liquid. At this time, the transaction of all assets will become very flexible.
    10. Now the blockchain application hot projects are still in the financial and logistics instries. Many instries will graally integrate with the blockchain. The policy wind is coming, and local governments are also experimenting with the blockchain + public service mode. Now there is a SMIC blockchain service platform project initiated by Changsha high tech Zone, which is in the formal operation stage, Also selected Hunan Province blockchain key projects, the next step is to collect enterprises on the chain.
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