Busd Ethereum public chain
Ethereum is a new and open blockchain platform, which allows anyone to build and use decentralized applications running through blockchain technology in the platform. Like bitcoin, Ethereum is neither controlled nor owned by anyone - it's an open source project created by many people around the world
Different from bitcoin protocol, Ethereum is very flexible and adaptable. It's very easy to create new applications on the Ethereum platform. Anyone can use the applications on the platform safely
Ethereum is a programmable blockchain. It does not give users a series of preset operations (such as bitcoin trading), but allows users to create complex operations according to their own wishes. In this way, it can be used as a platform for many types of decentralized blockchain applications, including but not limited to cryptocurrency
in a narrow sense, Ethereum refers to a series of protocols that define a decentralized application platform. The core of Ethereum is Ethereum virtual machine (EVM), which can encode any complex algorithm. In computer science terminology, Ethereum is "Turing complete.". Developers can use the existing JavaScript and python as the model of other friendly programming languages to create applications running on the Ethereum simulator
like other blockchains, Ethereum also has a peer-to-peer network protocol. Ethereum blockchain database is maintained and updated by many nodes connected to the network. Each network node runs the Ethereum simulator and executes the same instructions. Therefore, people sometimes call Ethereum "world computer"
this massive parallel operation throughout the Ethernet network is not to make the operation more efficient. In fact, this process makes computing on Ethereum slower and more expensive than on traditional computers. However, each Ethereum node runs Ethereum virtual machine in order to maintain the consistency of the whole blockchain. The consistency of decentralization makes Ethereum have high fault tolerance, zero downtime, and can keep the data stored on the blockchain unchanged and anti censorship
Ethereum platform has no characteristics and value. Like programming languages, it's up to entrepreneurs and developers to decide what to use. However, it is clear that some application types benefit more from the functions of Ethereum than others. Ethereum is especially suitable for those applications that automatically interact directly between points or promote group coordination activities across networks
for example, coordinate the application of point-to-point market, or the automation of complex financial contracts. Bitcoin enables indivials to exchange money without the help of financial institutions, banks or governments. The impact of Ethereum may be more profound
in theory, any complex financial activities or transactions can be automatically and reliably carried out on Ethereum with coding. In addition to financial applications, any application scenario with high requirements for trust, security and persistence, such as asset registration, voting, management and Internet of things, will be affected by Ethereum platform on a large scale
issued based on Ethereum public chain should be observed according to the price trend of the platform.
Public chain, also known as "public chain", refers to the blockchain that anyone in the world can enter the system at any time to read data, send confirmatory transactions and compete for bookkeeping. The public chain is generally considered to be "completely decentralized", because no indivial or institution can control or tamper with the reading and writing of data in it. In terms of application, blockchain public chain mainly includes bitcoin, Ethereum, super ledger, most counterfeit currencies and smart contracts. The ancestor of blockchain public chain is bitcoin blockchain, which has the following characteristics:
1, open source code
upload the code to GitHub, and everyone can get complete blockchain data by downloading, Accept the test of the public
2, complete decentralization
anyone can become a node, each node is open, everyone can participate in the calculation of the blockchain, any node is not permanent, but phased, and any center is not mandatory for nodes. Anyone can read and send transactions, and transactions can be effectively confirmed on the blockchain. Anyone can participate in the consensus process. The consensus process determines whether a block can be added to the blockchain and the exact current state. Everyone can get financial reward from it, which is proportional to their contribution to the consensus process. These public chains are generally considered to be "completely decentralized"
3. Developing decentralized applications
through this public chain, developers can easily develop centralized applications. Public chain can protect the rights and interests of users from the influence of program developers
as of today (October 19, 2018), AE token exists on Ethereum blockchain. In order to migrate them to the aeternity blockchain in a secure and verifiable way, the AE team designed a process in which the migration is divided into four stages. The final phase will end on September 2, 2019
after each stage, there will be a scheled hard fork of the aeternity blockchain, which will migrate tokens and introce improvements and new features
to ensure the transparency and verifiability of this migration process, users will be able to migrate using dedicated smart contract settings. There will be a tool that anyone can use to verify:
1. Generation of accounts contained in the origin block of aeternity blockchain and corresponding accounts of Ethereum
2. Scheled migration balance
Genesis block and scheled hard fork
phase 0 is the migration phase before mainnet starts. Its start date will be announced separately. Genesis block is the first block in the aeternity blockchain, which will include all tokens migrated by users in phase 0. Each of the following three phases, lasting about three months, will end with a scheled hard fork of the day and night blockchain. This means that after mainnet starts, there will be three scheled hard bifurcations. Each hard fork migrates tokens and adds or extends the functions of the aeternity blockchain, which can only be realized through hard fork. This also means that users can only receive their tokens on aeternitymainnet, one of which ends and the fork is complete. All scheled hard forks will include new features and improvements to the aeternity protocol such as governance systems or new virtual machines. A detailed timetable for the future will be announced in a separate announcement.