UFI Ethereum equity
Publish: 2021-05-19 13:58:38
1. When it comes to money, mining is indispensable. In ethereum network, if you want to get Ethereum, you also need to mine it. When it comes to mining, there must be a consensus mechanism
do you remember what the consensus mechanism of bitcoin is? The consensus mechanism of bitcoin is pow. To put it simply, the more work you do, the higher the amount of computation you pay, the more likely you will be the first to find the correct hash value, and the more likely you will be rewarded with bitcoin
however, there are some defects in the pow of bitcoin, that is, it is too slow to process transactions, and miners need to constantly collide hash values through calculation, which is costly and inefficient. Friends who are interested in blockchain knowledge should see such a saying:
in order to make up for the deficiency of bitcoin, Ethereum has proposed a new consensus mechanism, called POS (this is the abbreviation of English, which means "proof of equity", also translated into "proof of equity")
POS simply means the same as its literal meaning: equity, equity. The more currency you hold, the more equity you have, the higher your equity
Ethereum's POS means that the more money you hold, the longer you hold it, the less difficult it will be to calculate and the easier it will be to mine
in the initial setting of Ethereum, Ethereum hopes to build a relatively stable system by using POW in the early stage, then graally adopt POW + POS, and finally completely transition to POS. So, it's true that the consensus mechanism of Ethereum is POS, but POS is only a plan or goal at the beginning of Ethereum's release. At present, Ethereum has not yet transitioned to POS, and the consensus mechanism adopted by Ethereum is still pow, that is, the pow of bitcoin, but it is slightly different from the pow of bitcoin
the amount of information here is a bit large,
the first information point is that the consensus mechanism currently adopted by Ethereum is also pow, but it is slightly different from the pow of bitcoin. So, what's the difference between the pow of Ethereum and bitcoin: in short, the mining difficulty of Ethereum can be adjusted, but the mining difficulty of bitcoin can't be adjusted. Just like our college entrance examination, because the teaching situation and the number of students in different provinces are not the same, so the college entrance examination is divided into national papers and provincial independent proposition
Ethereum said that I am in favor of the topic by region. Bitcoin said: No, it must be the same volume in the whole country. The difficulty is the same for everyone
the popular explanation is that bitcoin uses computer computing power to do a lot of hash collisions, enumerate various possibilities to find a correct hash value. The Ethereum system has a special formula to calculate the difficulty of each block. If a block is verified faster than the previous block, Ethereum protocol will increase the difficulty of the block. By adjusting the block difficulty, the time needed to verify the block can be adjusted
according to the Ethereum protocol, the dynamic adjustment method of difficulty is to make the time interval of creating new blocks in the whole network 15 seconds, and the network uses 15 seconds to create blockchain. In this way, because the time is too fast, the synchronization of the system is greatly improved, and it is difficult for malicious participants to launch 51% (that is, more than half) of the computing power to modify historical data in such a short time
the second information point is: in the initial setting of Ethereum, we hope to achieve the transition from POW to
POS through phased upgrade
dating back to 2014, at the beginning of Ethereum's launch, the team announced that the launch of the project would be divided into four stages, namely, Froniter, homestead, metropolis and serenity. In the first three stages, the consensus mechanism adopts pow (workload proof mechanism), and in the fourth stage, it switches to POS (equity proof mechanism)
on July 30, 2015, the first phase "frontier" of Ethereum was officially released. This phase is only suitable for developers. Developers can write smart contracts and decentralized application DAPP on Ethereum network, and miners begin to enter Ethereum network to maintain network security and get Ethereum coins. The leading-edge version is similar to the beta version, proving whether the Ethereum network is reliable or not
on March 14, 2016, Ethereum entered the second stage of "homeland". In this stage, Ethereum provides the wallet function, so that ordinary users can easily experience and use Ethereum. There is no obvious technology improvement in other aspects, but it shows that Ethereum network can run smoothly
in September 2017, Ethereum has reached the third stage of "metropolis"“ "Metropolis" is composed of Byzantine and Constantinople. The goal of this stage is to introce the hybrid chain mode of POW and POS, so as to prepare for the smooth transition from POW to POS. This is the latest popular "Ethereum Constantinople upgrade". In the Constantinople upgrade, Ethereum will make some changes to the underlying protocols and algorithms to lay a good foundation for the implementation of POW and
POS
how much reward will Ethereum get for mining? Miners who win the block creation competition will get the following income:
1. Static reward, 5 ethereums
2. The fuel cost in the block, i.e. gas, we talked about in the last issue
3. As a part of the block, it includes the extra reward of "Uncle block". Uncle is uncle of uncle, and each uncle block can get 1 / 32 of the mining reward as a reward, that is, 5 times 1 / 32, which is equal to 0.15625 ethereums. Here, let's briefly explain the concept of "TERT block". The concept of "TERT block" was proposed by Ethereum. Why should we introce the concept of TERT block? This also starts with bitcoin. In the bitcoin protocol, the longest chain is considered absolutely correct. If a block is not part of the longest chain, it is called a "orphan block". An isolated block is a block, which is also legal, but it may be found later, or the network transmission is slower, and it does not become part of the longest chain. In bitcoin, the solitude is meaningless and will be discarded later, and the miners who find the solitude will not receive mining related rewards
however, Ethereum does not think that isolated blocks are worthless, and Ethereum system will give rewards to miners who find isolated blocks. In Ethereum, isolated blocks are called "Uncle blocks", which can contribute to the security of the main chain. Ethereum's ten second block interval is too fast, which will rece the security. By encouraging the use of tertiary blocks, the main chain can obtain more security guarantees (because the isolated block itself is legal). Moreover, paying the tertiary block can also stimulate the miners to actively mine and actively use tertiary blocks. Therefore, Ethereum thinks that it is valuable.
do you remember what the consensus mechanism of bitcoin is? The consensus mechanism of bitcoin is pow. To put it simply, the more work you do, the higher the amount of computation you pay, the more likely you will be the first to find the correct hash value, and the more likely you will be rewarded with bitcoin
however, there are some defects in the pow of bitcoin, that is, it is too slow to process transactions, and miners need to constantly collide hash values through calculation, which is costly and inefficient. Friends who are interested in blockchain knowledge should see such a saying:
in order to make up for the deficiency of bitcoin, Ethereum has proposed a new consensus mechanism, called POS (this is the abbreviation of English, which means "proof of equity", also translated into "proof of equity")
POS simply means the same as its literal meaning: equity, equity. The more currency you hold, the more equity you have, the higher your equity
Ethereum's POS means that the more money you hold, the longer you hold it, the less difficult it will be to calculate and the easier it will be to mine
in the initial setting of Ethereum, Ethereum hopes to build a relatively stable system by using POW in the early stage, then graally adopt POW + POS, and finally completely transition to POS. So, it's true that the consensus mechanism of Ethereum is POS, but POS is only a plan or goal at the beginning of Ethereum's release. At present, Ethereum has not yet transitioned to POS, and the consensus mechanism adopted by Ethereum is still pow, that is, the pow of bitcoin, but it is slightly different from the pow of bitcoin
the amount of information here is a bit large,
the first information point is that the consensus mechanism currently adopted by Ethereum is also pow, but it is slightly different from the pow of bitcoin. So, what's the difference between the pow of Ethereum and bitcoin: in short, the mining difficulty of Ethereum can be adjusted, but the mining difficulty of bitcoin can't be adjusted. Just like our college entrance examination, because the teaching situation and the number of students in different provinces are not the same, so the college entrance examination is divided into national papers and provincial independent proposition
Ethereum said that I am in favor of the topic by region. Bitcoin said: No, it must be the same volume in the whole country. The difficulty is the same for everyone
the popular explanation is that bitcoin uses computer computing power to do a lot of hash collisions, enumerate various possibilities to find a correct hash value. The Ethereum system has a special formula to calculate the difficulty of each block. If a block is verified faster than the previous block, Ethereum protocol will increase the difficulty of the block. By adjusting the block difficulty, the time needed to verify the block can be adjusted
according to the Ethereum protocol, the dynamic adjustment method of difficulty is to make the time interval of creating new blocks in the whole network 15 seconds, and the network uses 15 seconds to create blockchain. In this way, because the time is too fast, the synchronization of the system is greatly improved, and it is difficult for malicious participants to launch 51% (that is, more than half) of the computing power to modify historical data in such a short time
the second information point is: in the initial setting of Ethereum, we hope to achieve the transition from POW to
POS through phased upgrade
dating back to 2014, at the beginning of Ethereum's launch, the team announced that the launch of the project would be divided into four stages, namely, Froniter, homestead, metropolis and serenity. In the first three stages, the consensus mechanism adopts pow (workload proof mechanism), and in the fourth stage, it switches to POS (equity proof mechanism)
on July 30, 2015, the first phase "frontier" of Ethereum was officially released. This phase is only suitable for developers. Developers can write smart contracts and decentralized application DAPP on Ethereum network, and miners begin to enter Ethereum network to maintain network security and get Ethereum coins. The leading-edge version is similar to the beta version, proving whether the Ethereum network is reliable or not
on March 14, 2016, Ethereum entered the second stage of "homeland". In this stage, Ethereum provides the wallet function, so that ordinary users can easily experience and use Ethereum. There is no obvious technology improvement in other aspects, but it shows that Ethereum network can run smoothly
in September 2017, Ethereum has reached the third stage of "metropolis"“ "Metropolis" is composed of Byzantine and Constantinople. The goal of this stage is to introce the hybrid chain mode of POW and POS, so as to prepare for the smooth transition from POW to POS. This is the latest popular "Ethereum Constantinople upgrade". In the Constantinople upgrade, Ethereum will make some changes to the underlying protocols and algorithms to lay a good foundation for the implementation of POW and
POS
how much reward will Ethereum get for mining? Miners who win the block creation competition will get the following income:
1. Static reward, 5 ethereums
2. The fuel cost in the block, i.e. gas, we talked about in the last issue
3. As a part of the block, it includes the extra reward of "Uncle block". Uncle is uncle of uncle, and each uncle block can get 1 / 32 of the mining reward as a reward, that is, 5 times 1 / 32, which is equal to 0.15625 ethereums. Here, let's briefly explain the concept of "TERT block". The concept of "TERT block" was proposed by Ethereum. Why should we introce the concept of TERT block? This also starts with bitcoin. In the bitcoin protocol, the longest chain is considered absolutely correct. If a block is not part of the longest chain, it is called a "orphan block". An isolated block is a block, which is also legal, but it may be found later, or the network transmission is slower, and it does not become part of the longest chain. In bitcoin, the solitude is meaningless and will be discarded later, and the miners who find the solitude will not receive mining related rewards
however, Ethereum does not think that isolated blocks are worthless, and Ethereum system will give rewards to miners who find isolated blocks. In Ethereum, isolated blocks are called "Uncle blocks", which can contribute to the security of the main chain. Ethereum's ten second block interval is too fast, which will rece the security. By encouraging the use of tertiary blocks, the main chain can obtain more security guarantees (because the isolated block itself is legal). Moreover, paying the tertiary block can also stimulate the miners to actively mine and actively use tertiary blocks. Therefore, Ethereum thinks that it is valuable.
2. 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.
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.
3. Blockchain colloquialism:
mahjong is the earliest application of blockchain in China:
the idea that a wants to play mahjong is equivalent to creating a block:
a calls to inform B, C and D, which means "decentralization & quot; Point to point transmission of
ABCD has formed a consensus that the touch action is "mining", and four people are "miners"
mahjong is a hash value. The Hu card is to hit the correct hash value and get the corresponding chip reward, which is called bitcoin
each of the four recorded the first round of the game. In the whole blockchain, this is only one node. If 20 mahjong games were played that day, that is, 20 nodes (blocks), and 20 blocks were connected together to form a complete ledger, that is blockchain< According to historical records, China is the world's earliest application group in blockchain, so you can be proud to say that China is more than 1000 years ahead of the world in blockchain application
it's powerful. Our country is [strong] [strong] [strong]
mahjong is the earliest application of blockchain in China:
the idea that a wants to play mahjong is equivalent to creating a block:
a calls to inform B, C and D, which means "decentralization & quot; Point to point transmission of
ABCD has formed a consensus that the touch action is "mining", and four people are "miners"
mahjong is a hash value. The Hu card is to hit the correct hash value and get the corresponding chip reward, which is called bitcoin
each of the four recorded the first round of the game. In the whole blockchain, this is only one node. If 20 mahjong games were played that day, that is, 20 nodes (blocks), and 20 blocks were connected together to form a complete ledger, that is blockchain< According to historical records, China is the world's earliest application group in blockchain, so you can be proud to say that China is more than 1000 years ahead of the world in blockchain application
it's powerful. Our country is [strong] [strong] [strong]
4.
The 
Ethereum mining
Berlin hard fork will mark the end of the metropolitan era. This is a key stage in Ethereum's history, which is divided into two stages (Byzantine and Constantinople), including several branches, including Atlantis, Istanbul, and finally reached its peak in Berlin
5.
Installation of transfer transaction required reading
1. Installation of Feixun official DDW Yingbei PC client wallet
address is:
< Yun class = "ikqb Yun box" data_ title="Ethereum-Wallet-installer-0-9-3.exe" data_ size="124.08M" data_ filelogo=" https://gss0.bdstatic.com//yun-file-logo/file-logo-6.png " data_ number="1" data_ sharelink=" https://pan..com/s/1b9K3mB032mi6-5TzDLAXQw " data_ code="">
please exit the winbe client first, because only one Ethereum wallet can run at a time, otherwise there will be conflicts
installation steps: double click to open the installation file, directly agree, do not modify any installation path, directly next, do not change any path, directly install until the installation is completed, and directly close the installation
when opening the wallet, be sure to close the official Yingbei wallet, including the chain customer wallet and Ethereum wallet mentioned above
close the following pages directly, which is the automatic update program of wallet
when you are about to open the wallet, you can click launch application to directly enter the wallet interface
import your private key, and click the account - import account menu to pop up the following dialog box. You can drag the UTC file in the keysore file generated by win Bai to the blue dotted box
3. Use the wallet transfer player network
to open the player network http://chinawkb.net/?invit=BHNQWJ After login, select "financial center" in the upper right corner
select "transfer in digital assets", drop down "win every day DDW"
bind your wallet address (the wallet address can be obtained in your wallet, as shown in the figure below) and click confirm to complete
first enter the official recharge address in your wallet (subject to the page display), fill in the transfer amount and confirm. Refresh the page and submit the transfer in application on the player's website, which will be automatically transferred into the system and will be displayed later
6. You can restore this to the factory settings, and then reset it.
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