Ethereum hard fork on February 27

2.

Ethereum energy coin is not MLM

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

in 2013, vitalik buterin, 19, first mentioned the idea of Ethereum in a book entitled "Ethereum white paper: next generation intelligent connection and decentralized application platform". Then, in 2014, the algorithm and protocol of Ethernet coin were officially implemented, and $150 million was raised. The system itself was finally completed on July 30, 2015

as the representative of blockchain 2.0, the mainstream currency Ethernet is regarded as the wind vane of crypto digital currency market. However, over the past week, the price of ether currency has continued to fall. On August 14, 2018, the ethereal currency plummeted by 20%, reaching a record low of $257 this year. Compared with this year's peak of $1295, the price of Ethernet currency has shrunk by more than 80%. Affected by this, on August 15, 2018, none of the top ten mainstream currencies in the digital money market was spared, falling across the board, with a number of single day declines exceeding 10%

extended data

Ethereum started planning almost in 2013, and started to implement the project in 2015. Before that, there were many digital currencies imitating bitcoin in the market, and they made various modifications on the basis of bitcoin code. In this way, it is very difficult to develop a new blockchain application, to re deploy a new chain, and then to develop an application on this chain. Using a consensus mechanism of pow alone is a huge maintenance workload. It's like developing an app on a mobile phone and developing the Android system together

after Ethereum comes out, it is equivalent to the underlying operating system of the blockchain. On Ethereum, it is very convenient to develop various dapps without considering the underlying development, and it can also share the computing power and storage of Ethereum. For programmers, the threshold of blockchain development is lowered instantly. The emergence of Ethereum has played a very important role in the development and popularization of blockchain applications. That's why Ethereum is called blockchain 2.0

3.

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

4.

In the discussion of blockchain, bitcoin and other digital currencies, we often hear the word "bifurcation". So what is bifurcation? What is the effect of bifurcation

blockchain

before talking about bifurcation, popularize a little knowledge of blockchain, so as to help us understand what bifurcation is more easily (if you don't have any concept of blockchain, please read my previous articles, which are all popular words to help you understand what blockchain is)

blockchain, as the name suggests, is a chain composed of blocks. Of course, this kind of chain is just a figurative metaphor. To put it bluntly, data blocks are connected orderly. In bitcoin, the transaction records of bitcoin are stored in the block. The size of the block and the space occupied by the transaction records determine how many transactions can be stored in a block. These transaction records are packaged into blocks, and then the blocks are connected one by one to form a blockchain

We know that bitcoin software, like other software, needs to be updated and modified regularly in order to make it better. So a new version will appear, but not everyone will download the new version, so one miner will run the old version, and some will run the new version. If the old and new versions are not compatible, the blockchain will bifurcate. Because there may be differences between the version blocks and the old version blocks, they cannot be connected to the same blockchain, so there will be two or even more chains, which is called bifurcation

soft forking

soft forking refers to that when the new consensus rules are released, nodes that have not been upgraded will proce illegal blocks because they do not know the new consensus rules, resulting in temporary forking. This kind of bifurcation will be graally repaired with the upgrading of nodes

hard fork

hard fork refers to the permanent divergence of the blockchain. After the release of the new consensus rules, some nodes that have not been upgraded cannot verify the blocks proced by the upgraded nodes, and usually hard fork occurs. Therefore, in the field of digital currency, hard bifurcation often leads to the emergence of new currencies. For example, the hard bifurcation of Ethereum led to the emergence of eth

What is bifurcation? What is bitcoin bifurcation

5. 1. What is the ether classic<

etc (Ethereum Classic) is a bifurcated currency that Ethereum hard bifurcates after 1920000 blocks, and its function is very similar to Ethereum. Etc adheres to the concept of decentralization and supports the consensus mechanism of blockchain guarantee. Etc firmly believes that once the blockchain starts to run, its development direction will not be controlled by any central team, but will be determined by the consensus of the people participating in the whole network and the consensus of the computing power of the whole network

the Ethereum blockchain hard branching in July 2016 aims to transfer the Dao funds stolen by hackers to an account controlled by investors, and let the old transaction records be forgotten by history. Most Ethereum developers are involved in the reversal, as are exchanges, startups and other members of the ecosystem. A few days later, the project returned to normal. But not everyone wants to forget the old record. As a result, a small number of miners continued to use the original blockchain as a protest. They described the hard fork as a capital withdrawal for the abandoned project of the Dao. So Ethereum classic (etc) was born

2. Detailed parameters

Chinese Name: Ethereum classic English Name: Ethereum classic English abbreviation: etc

developer: Ethereum Classic team core algorithm: ethash consensus proof: POW

release date: 2016 / 7 / 20 block time: About 15-17 seconds / block

total currency: fixed at 210 million, up to 230 million, Every 5 million blocks decelerate by 20%, and the first proction rection is expected to be in December 2017

main features: independent cryptocurrency

6. Ethereum can be said to be a very successful currency in technology. In a short period of time, it has formed a trend of convergence. No matter in the technical level or in the market level, it has received global support, and the applications developed around it are emerging in an endless stream. At present, its price has been hovering at 3000 yuan for nearly half a month. I believe that with the progress of the bifurcation, its price is likely to exceed 4000 yuan by the end of the year. As the second largest market value of blockchain projects and bitcoin projects, its value is obviously likely to rise

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.

7. Ethereum fog, or ETF for short, is a branch chain of Ethereum, which is designed to solve the problem of distributed storage and distributed computing power that Ethereum lacks. In the later stage, it will switch to the hybrid mining of pow + POS. The original coin is ETF

after Ethereum bifurcates into etheric fog, the two will exist and develop together< br />

8. There was a theft incident in Ethereum before, which was very shocking. The founder of Ethereum claimed that these lost currencies could be recovered by changing the operation mode, so Ethereum made a hard fork. However, not everyone supported this fork. Therefore, some people still insisted on the original algorithm, so, The one who adheres to the original operation chain is etc, and the main chain after bifurcation is now Ethereum. The founder of EOS is DM. Inspirational has become a blockchain operating system. The relationship between EOS and Ethereum should be based on Ethereum. The main network will be launched in June this year, and its value should be greatly increased. At present, these three currencies are traded on multiple platforms, including btctrade international station, Huo coin, OK, etc., and currency security, coineggg, etc.

9. This number is not fixed, because the price of bitcoin is constantly changing. The highest price of bitcoin is more than $19000. At present, the price of bitcoin is around $4000. You can log in to the bitcoin exchange to view the bitcoin market in real time.

10. After all the towers of the first island are closed, there is a sea crossing bridge behind the last tower. You can go to the central island. You can go to the second island through the central island. All the towers of the third island are closed. After all the towers of the last three islands are closed, you can close the larger towers of the central island.