Ethereum mnemonics algorithm

1. There are 2048 words in bip39, if we choose 24 words as mnemonics. Then arrange and combine these 2048 words, and you can use the formula 2048/ 2048-24 Get it. But the order of magnitude is 10 to the 79th power. What is the concept of the 79th power of 10< br />
the number of atoms in the universe is between the 78th power of 10 and the 82nd power of 10. That is to say, 24 words are randomly selected from 2048 words in bip39 thesaurus for permutation and combination, and the magnitude of the answer is similar to the number of atoms in the universe
if we want to get a mnemonic word of bitcoin wallet from these 2048 words, the probability is about 677 billion divided by 1 * 10 to the 78th power, and the result is 6.77e to the - 70th power. This is a very small number. Therefore, the probability of getting a bitcoin wallet from 2048 words is very, very low, let alone from Nakamoto's wallet
of course, we don't rule out the element of luck, in case you hit the mnemonic word of Nakamoto's wallet. Then you can really get instant wealth and freedom, and more importantly, you can cheat people that you are Nakamoto. So, as long as you have perseverance and courage, you can have a try. After all, there is a very good saying: there should be dreams, in case of hell.

2.

Ethereum is an open source public blockchain platform with smart contract function. It provides decentralized virtual machine (Ethereum virtual machine) to process point-to-point contract through its special cryptocurrency ether (also known as "Ethereum")

The token on the

blockchain is called ether, and the code is eth. It can be traded in many foreign exchange markets of cryptocurrency, and it is also the medium used to pay transaction fees and computing services on Ethereum

the concept of Ethereum was first proposed by vitalik buterin, a programmer, from 2013 to 2014, inspired by bitcoin, with the general meaning of "next generation cryptocurrency and decentralized application platform", and began to develop through ICO crowdfunding in 2014. As of February 2018, Ethernet is the second highest cryptocurrency in market value, second only to bitcoin

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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

3.

Bitcoin uses SHA-256 encryption algorithm. When mining, it competes with computing power. In order to improve computing power, bitcoin has gone through four stages: CPU mining, GPU mining, FPGA mining and now ASIC mining machine mining, and the degree of specialization is getting higher and higher

Ethereum uses the ethash encryption algorithm. In the process of mining, it needs to read the memory and store the DAG file. Because the bandwidth of each read memory is limited, and the existing computer technology is difficult to have a qualitative breakthrough in this problem, so no matter how to improve the computing efficiency of the computer, the memory read efficiency will not be greatly improved. Therefore, in a sense, Ethereum's ethash encryption algorithm is ASIC resistant.

different encryption algorithms lead to great differences in mining equipment and computing power between bitcoin and Ethereum

at present, bitcoin mining equipment is mainly ASIC mining machine with a very high degree of specialization. The maximum computing power of a single mining machine is 110t / s, and the scale of computing power of the whole network is more than 120eh / s

the main mining equipment of Ethereum is video card miner, and there are very few specialized ASIC miner. On the one hand, the "ASIC resistance" of Ethereum mining algorithm improves the threshold of developing ASIC miner. On the other hand, after Ethereum is upgraded to 2.0, the consensus mechanism will be transformed into POS, and the miner can not continue mining

compared with the ASIC miner, the graphics card miner has two orders of magnitude difference in computing power. At present, the computing power of mainstream graphics card miner (8 cards) is about 420mh / s, and that of Ethereum is about 230th / s.

from the time dimension of the past two years, bitcoin's computing power of the whole network is growing rapidly, while Ethereum's computing power of the whole network is growing relatively slowly

The ASIC mining machine of

bitcoin is monopolized by several major mining machine manufacturers, and miners can only buy it from the market; Although the graphics card miner of Ethereum is also manufactured by a special miner, the miner can buy accessories from the market and assemble them according to his own demand

4.

The digital currency wallet is the hardware wallet, which means that the private key of digital assets is stored in a single chip, isolated from the Internet, plug and play. Hardware wallet can't guarantee 100% security. For example, if a geek gets your hardware wallet and doesn't know your private key, it may be cracked by violence. It's just one of the safest storage methods compared to other storage methods

many block chain entrepreneurs at home and abroad are optimistic about the development of this field, so they begin to build more hardware wallets. In the case of the exchange being stolen a lot of money and the software wallet being stolen from time to time, many investors regard the hardware wallet as the last moat

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whether the hardware wallet is safe

the hardware wallet can not guarantee 100% security. For example, if a geek obtains your hardware wallet, it may be cracked violently even if it doesn't know your hardware wallet immediately. It's just one of the safest storage methods compared to other storage methods

of course, there are exceptions, such as you have unlimited brain power and never forget. It's better to save it anywhere than in your own mind

5. The token of Ethereum is proced in the process of mining, with a mining rate of 5 Ethereum coins per piece. The mining process of Ethereum is almost the same as that of bitcoin. For each transaction, miners can use the computer to run the unique title metadata of the block through hash function, and guess the answer repeatedly and quickly until one of them wins

many new users believe that the sole purpose of mining is to generate ether in a way that does not require a central issuer (see our guide "what is ether?"). It's true. The token of Ethereum is proced in the process of mining, with a mining rate of 5 Ethereum coins per piece. But mining is at least as important. Usually, banks are responsible for keeping accurate records of transactions. They make sure that money is not created out of thin air and that users don't cheat and spend money many times. However, blockchain introces a new way to keep records, the whole network instead of intermediary, to verify transactions and add them to the public ledger

Ethereum mining

although "no trust" or "trust minimization" monetary system is the goal, there are still people who need to ensure the security of financial records and ensure that no one cheats. Mining is one of the innovations that makes decentralized records possible. Miners have reached a consensus on the history of transactions in terms of preventing fraud (especially double spending on ether) - an interesting issue that hasn't been addressed before the decentralized currency works on the blockchain. While Ethereum is looking at other ways to reach a consensus on the effectiveness of the deal, mining currently keeps the platform together

how mining works
today, the mining process of Ethereum is almost the same as that of bitcoin. For each transaction, the miner can use the computer to guess the answer repeatedly and quickly until one of them wins. More specifically, the miner will run the unique header metadata (including time stamp and software version) of the block through the hash function (which will return a fixed length, unordered string of numbers and letters, which appears to be random), changing only the 'nonce value', which will affect the hash value of the result

if the miner finds a hash that matches the current target, the miner will be granted ether and broadcast the block across the network for each node to verify and add to their own ledger . If miner B finds the hash, miner a stops working on the current block and repeats the process for the next block. It's hard for miners to cheat in this game. There is no way to fake the work and come up with the right answer to the puzzle. That's why solving puzzles is called "proof of work."

on the other hand, others have little time to verify whether the hash value is correct, which is exactly what each node does. About every 12-15 seconds, a miner finds a stone. If the miner starts to solve the puzzle faster or slower than this, the algorithm will automatically re adjust the difficulty of the problem so that the miner can rebound to about 12 seconds of solution time

miners earn these ethers randomly, and their profitability depends on their luck and the computing power they put in. The specific workload verification algorithm used by Ethereum is called "ethash", which aims to require more memory, making it difficult to mine with expensive ASIC. Special mining chips are now the only profitable way to mine bitcoin

in a sense, ethash may have achieved this goal successfully, because dedicated ASIC is not available for Ethereum (at least not yet). In addition, as Ethereum aims to shift from proof of work mining to "proof of equity" (which we will discuss below), buying ASIC may not be a wise choice because it may not prove useful for a long time< However, Ethereum may never need miners. Developers plan to abandon proof of work, the algorithm currently used by the network to determine which transactions are valid and protect them from tampering to support proof of equity, which is guaranteed by token owners. If and when the algorithm is launched, proof of equity can become a means to achieve distributed consensus, and the consensus uses less resources.

6. Where are you going? Wallet or exchange
transfer eth, as long as there is an address, you can transfer it out
mnemonic words are things that you can help to find when you forget your key, not related to money collection.

7. The bifurcation of Ethereum Constantinople is about to begin. Many people are curious about this bifurcation and are not sure whether they need to be prepared in advance
to put it simply: if you are only the holder of eth, you don't need to make any preparation for this upgrade.

8. the stone back. Now the big

9. Today, Yu Lingxiong's fourth MLM coin project, Xingyun chain, is officially launched
the lucky chain with 100 million issued and subscription price of RMB 250 million has already completed the crowdfunding work and raised RMB 250 million
the public chain claims to be the gospel of infertile patients, which can record genes and provide a platform for assisted reproction services (IVF is a kind of assisted reproction)
this issue is only one month away from the gold chain released by Yu Lingxiong in Jeju Island, South Korea
in today's era of "talking about pyramid selling turns pale", Yu Lingxiong not only has no convergence, but has become the "father of pyramid selling" anyway. With the help of blockchain, he has bred pyramid selling coins like locusts.

10.

Transaction

the behavior of blockchain transaction follows different rule sets

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e to the distributed and unlicensed nature of public blockchain, anyone can sign the transaction and broadcast it to the network

according to different blockchains, traders will be charged a certain transaction fee, which depends on the needs of users rather than the value of assets in the transaction

blockchain transactions do not require any central authority verification. It only needs to use the digital signature algorithm (DSA) corresponding to its blockchain to sign it with the private key

once a transaction is signed, broadcast to the network and mined into a successful block in the network, the transaction cannot be recovered

Ethereum transaction structure

Ethereum transaction data structure: transaction 0.1 eth

{
& 39; nonce':&# 39; 0x00', // Decimal: 0
& 39; gasLimit': &# 39; 0x5208', // Decimal system: 21000
& 39; gasPrice': &# 39; 0x3b9aca00', // Decimal system: 10000000000
& 39; to': &# 39;&# 39; ，// Sending address
& 39; value': &# 39; 0x16345785d8a0000',// 100000000000000000 ，10^17
' data': &# 39; 0x', // Decimal representation of null data; chainId': 1 / / blockchain network ID
}

these data have nothing to do with the transaction content, but have something to do with the execution mode of the transaction. This is because when you send a transaction in Ethereum, you must define some other parameters to tell miners how to handle your transaction. Transaction data structure has two attribute designs & quot; gas": & quot; gasPrice",& quot; gasLimit"

" gasPrice": The unit is Gwei, which is 1 / 1000 eth, indicating the transaction cost

& quot; gasLimit": The maximum gas charge allowed for the transaction

these two values are usually filled in automatically by the wallet provider

in addition, you need to specify which Ethereum network to execute the transaction (chainid): 1 represents the Ethereum main network

ring development, tests are usually carried out locally and on the test network, and transactions are carried out through the test eth issued by the test network to avoid economic losses. After the test, enter the main network transaction

in addition, if you need to submit some other data, you can use & quot; data" And & quot; nonce" Attach as part of a transaction

a nonce (number used only once) is the value used by Ethereum to track transactions, which helps to avoid double spending and replay attacks in the network

Ethereum transaction signature

Ethereum transaction involves ECDSA algorithm. Taking JavaScript code as an example, the popular ethers.js is used to call ECDSA algorithm for transaction signature

const ethers = require(' ethers')

const signer = new ethers.Wallet(' Wallet address

signer.signTransaction({

' nonce':&# 39; 0x00', // Decimal: 0

& 39; gasLimit': &# 39; 0x5208', // Decimal: 21000

& 39; gasPrice': &# 39; 0x3b9aca00', // Decimal 10000000000

& 39; to': &# 39;&# 39; ，// Sending address

& 39; value': &# 39; 0x16345785d8a0000',// 100000000000000000 ，10^17

' data': &# 39; 0x', // Decimal representation of null data

& 39; chainId': 1 / / blockchain network ID

})

. Then (console. Log)

you can use the online application composer to deliver signed transactions to Ethereum. This is known as "offline signature.". Offline signatures are particularly useful for applications such as status channels, which are smart contracts that track the balance between two accounts and transfer funds after a signed transaction is submitted. Offline signature is also a common practice in dexes

you can also use online wallet to create signature verification and broadcast through Ethereum account

with Portis, you can sign a transaction to interact with the gas station network (GSN)

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