Ethereum original chain 6
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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
bitcoin has been graally recognized by the market as digital gold, and bitcoin has also been graally recognized as personal private property by global law, which is protected by law. As the second largest cryptocurrency in the market value, Ethereum and bitcoin have no history of eliminating good money from bad money, but Ethereum's money, which is similar to the silver standard, has also been widely recognized
when Ethereum was launched in 2014, it was only 2 yuan. In early 2018, the highest price rose to 10000 yuan. Now, after the price fell, the bull market will restart. With the launch of Ethereum 2.0 system, the peak of exceeding 10000 yuan is just around the corner
the investment method is very simple. Search "tacu Asian Stock Exchange". After registering and logging in, follow the prompts to invest in bitcoin. Now you can also give free digital currency for registration. This is a transaction registered in Thailand. The Thai royal family has a share in the transaction, and the credit is guaranteed. I registered on this platform and sent 1000 coins, with a maximum value of more than 10000 yuan. If you have other problems you don't understand, you can solve them by contacting customer service directly.
what is Ethereum:
Ethereum is an innovation based on the application of technologies and concepts in bitcoin to computers. Ethereum itself imitates a lot of bitcoin technology to maintain the computer platform. Blockchain technology is one of them
Ethereum platform can safely run any program users want
advantages of Ethereum over other competitive currencies before Ethereum appeared, some digital currencies imitated bitcoin. However, these projects have their own shortcomings, they can only support one or several specific applications at the same time< However, the reason why Ethereum can surpass the limitations of these projects in the past is because of the core idea of Ethereum
what Ethereum wants to implement is a blockchain protocol with built-in programming language. Since it supports programming language, in theory, any blockchain application can be defined with this language, and then run on Ethereum's blockchain protocol as an application
The design of Ethereum is very flexible and adaptable
Ethereum target sets the advantages of blockchain technology, in order to add the advantages of blockchain, such as decentralization, openness and security, to almost all computing fields
blockchain applications of Ethereum
Ethereum has many blockchain applications, such as digital applications of gold and stocks, financial derivatives applications, DNS and digital authentication, etc
Ethereum has achieved more than 100 blockchain applications by many start-ups
Ethereum has also been closely watched by some financial institutions, banking consortia (such as R3), as well as large companies like Samsung, Deloitte, RWE and IBM. As a result, a number of blockchain applications such as simplified and automated financial transactions, merchant loyalty index tracking, and gift cards designed to achieve decentralization of electronic transactions have emerged
the relationship between Ethereum and blockchain:
Ethereum is a programmable blockchain
Ethereum does not give users a series of preset operations (such as bitcoin transaction), but allows users to create complex operations according to their own wishes
in this way, Ethereum can be used as a platform for various types of decentralized blockchain applications, including but not limited to cryptocurrency
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"
BTC, usdt, ETH, BCH, LTC mean respectively:
1, BTC
bitcoin. The concept was first proposed by Nakamoto in 2009. According to Nakamoto's idea, the open source software is designed and released, and the P2P network is built on it. Bitcoin is a kind of P2P digital currency. Point to point transmission means a decentralized payment system
2, usdt
TEDA currency is a virtual currency that links cryptocurrency with legal currency US dollar, and is a virtual currency kept in foreign exchange reserve account and supported by legal currency
EthEthereum is an open source public blockchain platform with intelligent contract function, which provides decentralized Ethereum virtual machine to process point-to-point contract through its special cryptocurrency ether
4. BCH
bitcoin cash is a new version of bitcoin with different configurations launched by a small number of bitcoin developers
at 20:20 on August 1, 2017, bitcoin cash starts mining, and each bitcoin investor's account will have the same amount of bitcoin cash (BCH)
5, LTC
litecoin, abbreviated as LTC, currency symbol: & # 321;; It is a kind of network currency based on "peer-to-peer" technology. It is also an open source software project under MIT / X11 license. It can help users make instant payments to anyone in the world
source of reference: network bitcoin
source of reference: network TEDA coin
source of reference: network Ethereum
source of reference: network bitcoin cash
source of reference: network letcoin
source of reference: Network
1. Data layer
the data layer is the lowest layer in the six hierarchies of the blockchain. We can understand the data layer as a database, but for the blockchain, this database is a tamperable and distributed database, which is what we call "distributed ledger"
in the data layer, that is, the "distributed ledger", the data information on the blockchain is stored, and the blockchain structure, asymmetric encryption technology, hash algorithm and other technical means of the block are encapsulated to ensure the security of the data in the case of the whole network being open. The specific method is:
in the blockchain network, nodes use consensus algorithm to maintain the consistency of data layer (that is, the distributed database), and use asymmetric encryption and hash algorithm in cryptography to ensure the non usurpation and traceability of the distributed database
This constitutes the bottom data structure of blockchain technology. However, it is not enough to have a distributed database. We also need to let the data information in the database be shared and exchanged. Next, we will introce the upper layer of the data layer - the network layer
Second, network layer
the network system of blockchain is essentially a P2P (point-to-point) network. Point to point means that there is no need for an intermediate link or centralized server to control the system. All resources and services in the network are distributed in the hands of each node, and the transmission of information is also a direct communication between the two nodes. However, it should be noted that P2P
(peer-to-peer) was not invented by Nakamoto, and the blockchain only integrates this technology
therefore, the network layer of blockchain is actually a particularly powerful point-to-point network system. In this system, each node can not only proce information, but also receive information, just like sending e-mail. You can write your own e-mail, and you can also receive the e-mail sent to you by others
in the blockchain network, nodes need to jointly maintain the blockchain system. Every time a node creates a new block, it needs to notify other nodes in the form of broadcast. After receiving the information, other nodes verify the block, and then create a new block on the basis of the block. In this way, the whole network can jointly maintain and update the general ledger of the blockchain system
however, what rules should the whole network follow to maintain and update the general ledger of the blockchain system? This involves the so-called "laws and regulations" (rules), which we will introce next: the consensus layer
Third, consensus layer
in the world of blockchain, consensus simply means that the whole network should maintain and update the general ledger of blockchain system according to a unified and agreed rule, which is similar to the rule of updating data. It is one of the core technologies of blockchain and the governance mechanism of blockchain community to let highly dispersed nodes reach consensus efficiently in the decentralized blockchain network
at present, the mainstream consensus mechanism algorithms include: proof of work of bitcoin (POW), proof of rights and interests of Ethereum (POS), proof of rights and interests of EOS (dpos), etc
we now introce the data layer, network layer and consensus layer. These three layers ensure that there are data, networks and rules for updating data on the network. However, there is no free lunch in the world. How can nodes actively participate in the maintenance of the blockchain system? Here is the incentive layer, which we will introce next: incentive layer< 4. Incentive layer
incentive layer is the so-called mining mechanism, which can be understood as incentive mechanism: you can get as much reward as you contribute to the blockchain system. With this incentive mechanism, the whole network nodes can be encouraged to participate in the data recording and maintenance on the blockchain
mining mechanism and consensus mechanism are actually the same truth. Consensus mechanism can be understood as the company's general rules and regulations, while mining mechanism can be understood as the reward rules for what you do well in the general rules and regulations
just like the consensus mechanism POW of bitcoin, it stipulates that more work pays more. Whoever can find the correct hash value first can get a certain amount of bitcoin reward
and Ethereum's POS stipulates that the older the holder is, the more likely he or she will be rewarded
it should be noted that the incentive layer is generally only available for the public chain, because the public chain must rely on the nodes of the whole network to jointly maintain data, so there must be a set of incentive mechanism to encourage the nodes of the whole network to participate in the construction and maintenance of the blockchain system, so as to ensure the security and reliability of the blockchain system
the blockchain is safe and reliable, and it is not intelligent enough, right? The contract layer we will introce next can make the blockchain system more intelligent
v. contract layer
Contract layer mainly includes various scripts, codes, algorithm mechanisms and smart contracts, which is the basis of block chain programming. What we call "smart contract" is at the contract level
if the bitcoin system is not intelligent enough, the "smart contract" proposed by Ethereum can meet many application scenarios. The principle of the contract layer is to embed the code into the blockchain system, in this way to realize the smart contract that can be customized. In this way, on the blockchain system, once the terms of the smart contract are triggered, the system can automatically execute commands< Finally, the application layer. The application layer is very simple. As the name suggests, it is a variety of application scenarios and cases of blockchain. What we now call "blockchain +" is the so-called application layer. At present, the blockchain applications that have been implemented are mainly various blockchain applications built on
eth, EOS and other public chains. There are more applications of gambling and games, and the real practical applications have not yet appeared.
The idea of Ethereum was born in 2013. Vitalik buterin ˙ When he was a programmer in the bitcoin community, he suggested to the core developers of bitcoin to develop a language for application developers to facilitate the development of various applications. Bitcoin core developers disagree. So God V decided to develop a new platform for this purpose
V God wrote the white paper of etheric currency in 2013, in which he explained the goal of building a decentralized program. In 2014, we got development funds through crowdfunding, so we developed the Ethernet system< (better digital currency trading platform "currency exchange")
since its birth, it has carried out four hard bifurcations so far
for the first time, in order to adjust the difficulty
released a stable version of "homeland" for the second time
for the fourth time, in order to prevent DDoS and rece weight
there is only the third hard fork, because of the hacker attack, and forced to fork. This is the Dao event
On July 30, 2015, v-god and Ethereum Foundation created the first smart contract platform and designed the Dao Ethereum contracton April 30, 2016, the Dao smart contract was officially deployed, and the world's largest crowdfunding was completed, reaching an amazing $150 million As an aside, the biggest crowdfunding event in time is EOS crowdfunding, which has reached an even more amazing $5 billion!)
on June 17, 2016, the Dao was attacked by hackers, who stole about 50 million US dollars of Ethernet currency, and the price also plummeted from US $20 to US $15, causing great harm to Ethereum. In order to recover the loss of investors, the community finally decided to hard fork
therefore, on July 20, 2016, at the block height of 1920000, the hard branching was successful, and the new chain is called Ethereum eth, while the original chain is now Ethereum classic etc