Force bifurcation
every time there is a hard bifurcation crisis, the currency price may plunge, which is mainly e to the worry of bitcoin.
About bitcoin, the news is flying all over the world these two days
specifically, a foundation called BTN foundation announced that it has set up a bitcoin bifurcated development team to launch a new bitcoin bifurcated BTN. Now its official website is online, which is called btn.kim. Two days later, bitgo, another bitcoin development team, announced that it would fork out from bitcoin. Its name is BTF, which literally means "bitcoin faith"
according to Yao yuan, a well-known bitcoin columnist, bitcoin will "have 10 children" in December, and will at least bifurcate out of 10 "children" such as BCX, SBTC and LBTC
as soon as these things happened, the bitcoin market began to fluctuate again, some investors blew up, and all kinds of rumors came out: why so many forks? Is bitcoin out of order
in fact, the bifurcating of bitcoin is far more complicated than what it shows. If we don't explain its historical background clearly, we really can't understand what happened
< b > the origin of bifurcations: the origin of the bifurcations of bitcoin has existed. The so-called bifurcations refer to the accounting differences caused by different underlying protocols. According to Xue Hongyan, director of the Internet financial center of Suning Financial Research Institute, bitcoin is jointly maintained by a number of point-to-point decentralized nodes. The orderly operation of the whole system depends on the consensus of all nodes, that is, there is a set of recognized standards for key issues such as which transactions are acceptable and which nodes have accounting rights. This set of standards is deployed in the underlying protocol of blockchain and implemented automatically
but nodes are operated by people after all, which is the so-called "miner", but everything operated by people will be different. For example, the miners of some nodes go online every day, while the miners of some nodes go online occasionally; Some nodes are in the eastern hemisphere, some nodes are in the Western Hemisphere... In a word, e to various reasons, over time, bitcoin has different underlying protocols in different nodes
if different versions of underlying protocols are running in a node, different standards will appear, which will result in bifurcation. If the nodes can deal with these version differences and finally form a unified standard, the bifurcation will eventually disappear, which is called soft bifurcation. If the difference cannot be eliminated, when some nodes continue to run different versions of the protocol, the bifurcation will continue, which is called hard bifurcation
it's easy to solve the problem of soft bifurcation, that is, if the account book is wrong, just modify it. Hard bifurcations are not easy to solve. No one thinks he is wrong and explains them according to his own standards. In the end, he can only go his own way and keep his own account. At present, bitcoin bifurcation refers to hard bifurcation
< b > the first bifurcations: the first hard bifurcations of bitcoin technology upgrade are purely technical reasons. The settlement performance of bitcoin itself is limited. According to the original technical agreement, bitcoin can only support up to seven settlements per second. This was not a problem in the early days. With the fire of bitcoin, more and more people flocked in, and the settlement became more frequent than ever. At this time, the original technology was not enough
therefore, in the middle of 2017, some miners proposed new technology agreements, but the other miners did not agree with them. Eventually, both sides held one end and ran their own underlying agreements, which was the first bifurcation in the history of bitcoin
However, with the development of bitcoin trading means, speculators graally regard the bifurcation as a means of money collection, which leads to a great change in the nature of the current bifurcationthe principle is that each bifurcation is essentially equivalent to the issue of a new digital currency, which is linked to bitcoin. The target audience is larger than the general ICO, and it is easier to be accepted by ordinary users than issuing a new digital currency directly
because the team that creates this kind of bifurcation takes the lead, it is very easy to control the transaction of the new currency, especially in the early stage, and it only needs a small cost to control the price trend of the whole currency. This leaves a lot of room for speculation. The forked team only needs to make the new currency accepted by the users, and then it can artificially raise the price to a sky high price. After the real users come in, they can sell all the money they hoard, and get high profits out of thin air
on October 25 this year, a domestic team forked out bitcoin gold (BTG). Two days before the forking, Jiang Zhuoer, CEO of leibitchi, denounced the forking as money looping: "Liao Xiang, founder of BTG, had g 200000 BTG coins in advance before the forking, and wanted to convert them into 20000 bitcoins, looping 80 million yuan."
The advantage of bifurcations can be seen, so that the word "bifurcations create value" has become popular in the field of currency speculation. For this reason, a new word "IFO" - first token issue has been derivedHe Sheng, a well-known financial blogger, once told the media that most of the so-called IFO may evolve into the operation of collecting money by harvesting leeks. "Many previous ICOS are doing IFO, and ICO needs to write a white paper and go to the stock exchange to gain market recognition, while IFO does not even need to write a white paper."
this also explains why bitcoin is becoming more and more profitable. To put it bluntly, everyone wants Nakamoto
Can< b > not bifurcate
whether it's Hong shuning of Suning finance, or Mike & Chen, CEO of bitgo, a bitcoin wallet software provider and one of the project leaders of segwit2x; Mike belshe, the instry actually refuses this bifurcation of bitcoin. In fact, real blockchain practitioners have always hated speculation. At present, the leading enterprises in the domestic blockchain instry have clearly expressed their opposition to the overflow of bitcoin bifurcation. For example, when Xunlei launched the first popular blockchain project in China, its CEO Chen Lei said in an interview: "Xunlei opposes all speculative activities using blockchain, so it is definitely against bitcoin for the purpose of speculation and leek cutting arbitrage."
However, to solve this problem, it is not enough to have an attitude alone, but to have specific means. The best way is not to let bitcoin bifurcatethis is difficult to achieve. Bitcoin's own technology is a relatively primitive blockchain technology with limited computing power. It can barely cope with the previous transaction scale. In view of the current situation of bitcoin fire, it is difficult to support. So sooner or later bitcoin will have to solve the problem of its own computing power
but there is no hope at all. With the innovation of blockchain technology, there will always be some new ways. For example, the shared computing proposed by Xunlei can effectively improve the total amount of computing power and rece the cost per unit of computing power without changing the existing hardware facilities. If bitcoin is combined with shared computing, it can effectively solve the problem of bitcoin's computing power limit without new bifurcation
secondly, the bifurcations for the purpose of cutting Chinese chives can be supervised by means of supervision. For example, compared with the real name system of special currency wallet, the real name system of transactions can effectively prevent the risk of Financial Bureau. At present, the real name system has been implemented in some blockchain projects, and has achieved good results. For example, Xunlei's blockchain is the first blockchain application to introce the real name system in China, which basically eliminates the hidden danger of malicious speculation
in a word, there is a way. It depends on whether bitcoin players accept it or not, and there is a process to implement it. It takes time. Therefore, at this stage, it is better for us to stay away from the bifurcations of bitcoin in various names
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
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
Ethereum uses fog computing. The data processing and applications of fog computing are concentrated in the devices at the edge of the network, rather than almost all stored in the cloud, which is an extension concept of cloud computing, which is more in line with the spirit of decentralization of blockchain. If all the storage and operations still stay on the centralized server, then it will not be a real blockchain
recently, the hot "ethereal cat" on Ethereum network has led to the congestion of Ethereum network. The problem is that the TPS concurrency per second of Ethereum is too low. The emergence of ethereumfog with fog computing will break the embarrassing situation of Ethereum network congestion, and add powerful decentralized storage and additional computing power to the chain
the concept of fog computing may be unfamiliar to many chain friends, but it is the most important aspect of ether fog to attract investors. In fact, I have heard about the concept of fog computing for a long time, and I have always thought that fog computing is the future development direction. When it comes to fog computing, we should start with cloud computing. In fact, the cloud computing we see now evolves from the cluster of independent servers, that is, from the original centralized independent servers to large server clusters, but in the final analysis, it is still a form of centralized computing. Compared with cloud computing, which is the evolution of centralized computing, fog computing is to share computing tasks with various computing power devices around us, and realize the evolution of decentralized and distributed computing, which coincides with the philosophy of blockchain itself.
In addition to the fixed parking lot in the map, there are also temporary parking spots on both sides of the urban streets in the core business district of Nanning. The parking fee is 3 yuan / hour. There is a large flow of people near Heping shopping mall and trading ground, so it is suggested that people should not drive to Heping shopping mall; Before the festival, there are a lot of traffic and people, so please pay attention to safety
this is the same as the Treasury administrator
if you can easily take advantage of your position,
the world is in chaos
once there is a hot user's failure or maintenance e to the gas entrapment, blockage and aging of heating facilities in the indoor heating pipeline, it will affect other users, especially the water leakage, which will waste a lot of water.