Ethereum commercial scene

1.

There is an essential difference between Ethereum and bitcoin. What is the difference? Bitcoin defines a set of currency system, while Ethereum focuses on building a main chain (which can be understood as a road) to allow a large number of blockchain applications to run on this road

from this point of view, Ethereum's application scenarios are more extensive, which is why we say that Ethereum marks a simple monetary system in the era of blockchain

1.0, and a transformation to other instries and application scenarios in the era of blockchain 2.0

however, there is no perfect thing in the world. Although Ethereum has expanded the application scope of blockchain in all walks of life and improved the speed of transaction processing, it also has some disputes and doubts

first, the solution to the lack of scalability of Ethereum: slicing technology and lightning network

the bottom design of Ethereum, the biggest problem is that Ethereum has only one chain and no side chain, which means that all programs have to run on this chain equally, consuming resources and causing system congestion. Just like last year's very popular Ethereum game "encryption cat", when this game was very popular, it once caused Ethereum network paralysis

to improve the processing capacity, Ethereum proposes two ways: shard and lightning network. Let's introce these two technologies respectively

(1) fragmentation technology

vitalik buterin, founder of Ethereum, believes that the reason why mainstream blockchain networks such as bitcoin process transactions very slowly is that every miner has to process every transaction in the whole network, which is actually very inefficient. The idea of fragmentation technology is: a transaction does not need to be processed by all nodes in the whole network, as long as some nodes (miners) in the network are allowed to process it. Therefore, Ethereum network is divided into many pieces. At the same time, each piece can handle different transactions. In this way, the network performance will be greatly improved

however, the slicing technology is also controversial. As we all know, the important idea of blockchain technology is decentralization. Only when the whole network witnesses (processes) the same transaction can it have the highest authority. The Ethereum slicing technology is similar to the group witness, not all nodes witness together. In this way, it will lose the absolute "decentralization" attribute, and can only achieve the purpose of high performance by sacrificing certain characteristics of decentralization

(2) lightning network

lightning network uses the way of transaction under the chain. What does that mean? It means: when the participants of lightning network transfer money to each other, they do not need to confirm the transaction through the main chain of Ethereum, but create a payment channel between the participants and complete it under the chain

however, lightning network is not separated from the main chain. Before establishing a payment channel, you need to use the assets on the main chain as collateral to generate a balance proof, which indicates that you can transfer the corresponding balance. In the case that both parties of the transaction hold the balance certificate, both parties can make unlimited number of transfers under the chain through the payment channel

only when the off chain transaction is completed and the assets need to be transferred back to the chain, the balance change information of the main chain account will be registered on the Ethereum main chain, and no matter how many transactions occur ring this period, there will be no record on the main chain

another real benefit of lightning network is that it can save the cost of miners for you. At present, when we trade on the main chain of Ethereum, we need to consume gas and pay for miners. Once we move the transaction to the lower chain, we can save this part of the cost

Of course, lightning network is not perfect. When using the lightning network, the assets on the main chain should be used as collateral; And this part of assets as collateral can not be used before the user completes the transaction under the chain. This also determines that lightning trading is only suitable for small transactions

the above is the problem of insufficient scalability of Ethereum, as well as the two main solutions: fragmentation technology and lightning network

Second, there are loopholes in Ethereum's smart contract and the infamous Dao event

Ethereum's smart contract is very powerful, but there are loopholes in any code. The biggest controversy of Ethereum's smart contract lies in the so-called loopholes, that is, security issues. According to relevant research, 34200 (about 3%) of the nearly 1 million smart contracts based on Ethereum contain security vulnerabilities, which will allow hackers to steal eth, freeze assets or delete contracts, such as the infamous Dao incident

(1) what does Dao mean

before introcing the Dao event, let's first introce what Dao is. Dao is the abbreviation of decentralized

autonomous organization, which can be understood as decentralized autonomous organization. From the perspective of Ethereum, Dao is a kind of contract or a combination of contracts on the blockchain, which is used to replace the government's review and complex intermediate proceres, so as to achieve an efficient and decentralized trust system. Therefore, Dao is not a specific organization, that is to say, there can be many Dao, all kinds of Dao

(2) the infamous Dao event

however, when we talk about Dao now, we basically refer to the Dao event, that is, the infamous hacker attack event we just mentioned. As we know, the English word "the" refers to "the Dao event". The Dao event

refers to "the Dao event", because we just said that Dao is not a specific organization, there can be many Dao, all kinds of Dao

in 2016, slock.it, a German company focusing on "smart locks", launched the Dao project on Ethereum in order to realize decentralized physical exchange (such as apartments and ships). Since April 30, 2016, the financing window has been open for 28 days

unexpectedly, this Dao project is very popular. It raised more than US $100 million in just half a month. By the end of the whole financing period, it raised a total of US $150 million. Therefore, it has become the largest crowdfunding project in history. However, it didn't last long. In June, hackers took advantage of the loopholes in the smart contract to successfully transfer more than 3.6 million Ethernet coins and put them into a Dao sub organization, which has the same structure as the Dao. At that time, the price of Ethernet currency fell directly from more than $20 to less than $13

this event shows that there are loopholes in smart contracts, and once the loopholes are exploited by hackers, the consequences will be very serious. This is why many people criticize Ethereum and say that its smart contract is not smart

to solve this problem, many foreign companies begin to provide code audit services in order to solve the vulnerability problem of smart contract. From a technical point of view, some teams are currently testing smart contracts. Most of these teams are led by professors from Harvard, Stanford and Yale, and some of them have obtained investment from leading institutions

in addition to the problems of insufficient expansibility and loopholes in smart contracts, the controversy over Ethereum lies in the POS consensus mechanism it pursues, that is, the proof of equity mechanism. Under the proof of equity mechanism, if anyone holds more money and holds it for a longer time, he will get more "rights" (interests) and have the opportunity to get bookkeeping power, Bookkeeping can also be rewarded. In this way, it is easy to create the oligarchic advantage of "the stronger the stronger"

Another problem is the chaos of ICO. ICO is a common way to raise funds for blockchain projects, which we can understand as pre-sale. The outbreak of ICO projects on Ethereum has caused illegal activities such as fund allocation and money fraud under the banner of ICO, which has caused security risks to social and financial stability

2. In fact, the rise and fall of digital currency is a normal situation. The key is to see whether you are optimistic about its long-term value. Relatively speaking, if the long-term value is worth investing in, then the short-term decline can be ignored. At the same time, if you don't know much about digital currency users, it is recommended to choose a reliable and good platform for investment. The investment period needs more than six years, Word of mouth should always be good, you can take a look at AEX, fire coin these two, but also more reliable, you can also understand their own network first

3. Hello, it's called EOS token. It's based on Ethereum token
EOS coin
EOS (Chinese Name: EOS, English Name: EOS, abbreviation: EOS) is a token based on Ethereum released for eos.io blockchain system. Blockone is a new blockchain architecture developed by blockone company, which aims to expand the performance of distributed applications. The goal of EOS project is to achieve a blockchain architecture similar to the operating system supporting applications. The architecture can provide account, identity authentication, database, asynchronous communication and program scheling on hundreds of CPUs or clusters. The ultimate form of this technology is a blockchain architecture, which can support millions of transactions per second, and ordinary users do not need to pay for the use of the blockchain
function of EOS token
the current form of EOS cryptocurrency belongs to ERC 20 smart contract token on Ethereum blockchain. EOS ERC 20 token will be converted into the cryptocurrency available in EOS system 1:1 after the formal launch of EOS blockchain. The EOS system is expected to release the test network in August 2017, and it is expected to take one year for the main network of EOS blockchain to go online. The following application scenarios are introced after the EOS blockchain is officially launched
EOS cryptography currency has three main application scenarios: bandwidth and log storage (hard disk); Calculation and calculation reserve (CPU); State memory (RAM)
both instantaneous and long-term components consume bandwidth and computation. The blockchain system will maintain logs of all messages, which will be downloaded and stored by all complete nodes. With log information, the state of all applications can be reconstructed
the specific application scenario of EOS cryptography currency can be explained as:
receiver payment: customers purchase specific procts from the business, and the sales revenue of these procts will be used to pay the business cost, so as to avoid customers paying for the use of blockchain directly, and will not restrict or prevent enterprises from determining the monetization strategy of their procts
authorization capability: if a blockchain is developed by using EOS software system and its token is held by a ticket holder, it may not need to consume all or part of the available bandwidth immediately. Such a holder can choose to give or rent the unused bandwidth to others
separate transaction costs from token value: if the application owner holds a corresponding amount of tokens, the application can continue to run in a fixed state and bandwidth usage. Developers and users are not affected by price fluctuations in the token market, so they are not price dependent
block reward: each time a block is generated, the eos.io system will reward the block generator with a new token. The system may be configured to limit the reward cap for block procers, so that the total annual increase in token supply does not exceed 5%
community welfare applications: users can choose three community welfare applications, also known as smart contracts. These smart contracts will collect tokens based on the proportion of votes each application receives from the token holder. The elected application or smart contract can be replaced by the smart contract of the newly elected application or token holder
What are the technical advantages of EOS
1. EOS creates a developer friendly underlying platform of blockchain, which is similar to the operating system of blockchain. It has powerful performance, can support multiple applications running at the same time, and can support multiple programming languages at the same time. It provides developers with underlying moles to lower the development threshold, just like Microsoft's windows. Do you think Microsoft is worth money
2. EOS solves the problems of delay and data throughput through parallel chain and dpos. EOS can achieve a processing capacity of one million per second. At present, bitcoin has 7 transactions per second, while Ethereum has 30-40 transactions. This super power of EOS can hang bitcoin and Ethereum. For example, the recent cryptokitties | collect and breed digital cats! This is a very popular eth game. Only one game accounts for about 15% of eth's throughput. If there are seven or eight similar games at the same time, ETH will die. It's scary to think about it. Eth, which can't expand bandwidth, will have great challenges in throughput, and EOS can solve the above problems.

4.

Financial instry

blockchain should be the most widely used in the financial instry

, for example, OMG (young model currency) in May 2017, omise announced that it was launching an electronic wallet with Alipay to integrate Alipay payment solutions into its own payment service suite, helping local e-commerce businesses in Thailand to accept online payment transactions from China tourists. p>

another example is PPT, which is a bill financial transaction system based on blockchain

gambling

the gambling instry probably entered the blockchain last year. Why does gambling favor blockchain? Blockchain provides a relatively fair guessing system. Why is it relatively fair? As can be seen from the previous introction, blockchain can not be tampered with or forged

for example, wicc is a rich application scenario that can realize asset issuance, guessing application, right traceability, mutual insurance, decentralized exchange, cross-border settlement, etc

for example, the STX stox application is designed to provide the full functionality of the forecast market application without any central server. Forecasting the market requires functions such as event planning, market making, providing information and analysis to traders, reporting event results, and of course collecting and paying

I believe that if the current lottery instry is set up on the blockchain, people's purchasing enthusiasm will be higher and higher, because too many insiders make people give up

Internet of things

there are still many applications of the Internet of things in the blockchain, because the traceability and timeliness of blocks are very suitable for this instry

for example, data is the concept of Internet of things, which is a decentralized P2P network. The data source can connect with any node in the whole network, and then publish the data, and the network will immediately send it to the subscriber. Horizontal scalability is achieved through fragmentation mode. This is very important for the timeliness and accuracy of Internet of things applications

game instry

for example, GTC (g coin) is a decentralized digital asset based on Ethereum erc20 issued by game.com, and G coin is committed to becoming the general digital currency standard of the global game instry

for example, mana is a distributed shared virtual platform. On this platform, users can browse and discover content, and interact with other people and entities. Users can also claim the ownership of virtual territory through the land ledger based on blockchain. The territory is demarcated by rectangular coordinates (x, y), and its owner can decide the content published on the territory, including interactive systems from static 3D scenes to games

there are many other instries. The great emperor did not list them one by one, but listed several representative instries. What is the point? It shows that blockchain is definitely not only the transaction of currency, it is a proct of the era change with real landing project and real practical use

in fact, the development of human society is just like the blockchain, which is irreversible and unstoppable. In my opinion, sooner or later, the blockchain will enter into thousands of households, no matter the ox or bear, hold the value currency in hand, and tonghuashun has begun to offer digital currency, which shows that the society is accepting it step by step, and the power of social development can not be blocked by any country or person

5. First of all, what is Ethereum? Ethereum is a programming language and a platform. The Ethereum that investors / speculators pay attention to is actually Ethereum, which is a digital token derived from Ethereum - Ethereum

whether Ethereum has investment prospects or not, we just need to see its value, From tens of dollars to hundreds of dollars of the increase, and do not say the future bubble or not, just say that this stage of appreciation of the space, it is worth our attention!
Ethereum trading platform, at present, I recommend btctrade platform (bitcoin trading network), which is a relatively reliable trading platform in China! Ethereum was launched in 2016, and the rise of currency price is amazing!

6. We should focus on three aspects: popularity, innovation, operation mode and team

popularity: there is no doubt that bitcoin and lightcoin have the highest popularity in the cryptocurrency circle. Even though they have many shortcomings, they still have the largest number of players and the highest amount of money. They have large plates and are not easy to be controlled by the makers. Of course, the relevant infrastructure is relatively perfect

Innovation: dog coin is popular because it caters to the western small reward culture. The reason why Fuyuan coin can become the leader of the new generation of cryptocurrency is that it mainly focuses on the currency business circle, which is an applied cryptocurrency

operation mode: for example, the operation mode of Vicat coin has been exposed as pyramid selling. Although Yuanbao coin has been criticized before, the operation team will not give up, and Yuanbao coin is still the leader of domestic currency.

7.

Because the blockchain technology is not mature at this stage, and the infrastructure is not perfect, many applications are limited, and the overall application is still in a very early stage

First of all, the main function of blockchain is to store information. Any information that needs to be saved can be written to or read from the blockchain, so it is a database. Secondly, anyone can set up a server and join the blockchain network to become a node. In the world of blockchain, there is no central node (decentralization). Every node is equal and keeps the whole database. You can write / read data to any node, because all nodes will be synchronized in the end to ensure the consistency of the blockchain

8.

The most important reason why blockchain is questioned is that there is no practical application scenario, and ordinary people can't see the possible value. In the eyes of these experts, where are the most likely application scenarios of blockchain

Shuai Chu, the founder of quantum chain, said: at present, the evolution of the whole blockchain technology is still at an early stage, just like the Internet era 20 years ago. At that time, we could not imagine that there would be applications like Uber on the Internet. The development of technology would give you more diversity. The possibility is the future

According to the technical characteristics of blockchain, Zeng Ming, Dean of Hupan University, gave several possible answers:

1. The most important advantage of blockchain is transparent, unchangeable and distributed ledger. Some areas have never been covered by the Internet, such as acceptance bills

2. Another big advantage of blockchain is that from the perspective of smart contract, it is possible to form more efficient network collaboration at the point-to-point level. Like crowdfunding

3. In the field of innovation, blockchain will definitely be closely combined with the development of Internet of things, artificial intelligence and other fields, including cloud computing, edge computing and so on

9. Tomb Raider 9 1080 resolution has the highest image quality, and the special effects are fully open at about 40 frames
Tomb Raider 10 1080 resolution has the special effects at about 35 frames
that's the level.

10.

I believe there is a fraud in issuing digital currency, but there is a fraud in mining. Unless you buy a "nonexistent" mining machine or computing power, the probability of being cheated is almost zero. Next, let me talk about UTC's past and present lives

So, it's hard to say whether UTC is a fraud, but this model is indeed an innovation in the currency circle. After all, digital currency is getting more and more attention, and it may not become "currency", but it may become "alternative investment goods". Personally, I'm optimistic about this mining model

moreover, as far as I know, the team behind UTC, as well as the financial and technical support are quite reliable. If it is really a scam, the institutions that invest in UTC will not make such a big battle to cheat people