Ethereum miners' fees soar

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.

Ethereum is likely to rise to 10000 in 2021

institutional investors and big capital are increasingly interested in cryptocurrency. The attention of all whales, and the attention of all the public, is focused on bitcoin. Since the global health and safety incident triggered the market crash in March 2020, the growth of eth has reached 1200%

while BTC only increased by 700%. Of course, in the context of bitcoin's record high price of 40000, Ethereum's rise to $1400 does not seem so impressive. In addition, the market value of eth is five times the trading volume of BTC market

extended information:

the increase of Ethereum is as follows:

the transaction volume recorded on Ethereum blockchain exceeds US $1 trillion. These figures exceed the transaction volume of payment giants such as PayPal, which is used by more than 350 million users and whose average transaction volume is generally less than $200 billion per quarter

each transaction will generate network fees paid by eth. Moreover, as the growth rate of the network is still very high, we can confidently expect the "bull market" trend of eth to continue. In any case, interest in cryptocurrency is growing, as are the number of active wallets, the number of transactions on the Internet, and the average size of transactions

3.

At present, the mining mode can be roughly divided into PPLNs, PPS and PPS +. However, if you want to get a stable income from mining, it is recommended to choose the mining software of PPS mode

when miners are mining, if you want to know how many etheric coins you get, you can use ha Yu miner to see clearly the daily mining income

Harbin miners showed a unified display of revenue for BTC, easy to see, and support for cash withdrawals to Alipay wallet and bitcoin wallet. p>

4. Of course, it's a miner. You can only buy leeks. Ethereum mining machine is now famous. I recommend Feixun's Ethereum mining machine C8. First of all, C8 reces the mining threshold, eliminates the mining machine's cost, and allows everyone to enter the blockchain. It also saves effort, and does not need to install their own machines. I have bought several, Now I'm in the process of installation and storage. I'll wait for the official excavation. Then I just need to look at the Ethereum wallet every day.

5. Because the money transfer based on Ethereum requires a very small amount of eth as the miner's fee, so the money can't be transferred without eth. At this time, you need to buy a small amount of eth. You can buy at least 10 yuan in bitpie's wallet, which can last for a long time.

6.

Ethereum miner fee

1. In a public chain, anyone can read and write data. Reading data is free, but writing data to the public chain costs a certain amount of money, which helps to prevent junk content and protect its security through payment

Secondly, any node on the network (each connected device containing a of the account book is called a node) can participate in the mining method to protect the network. As mining requires computing power and electricity charges, miners need to be paid for their services, which is also the origin of miners' fees

Third, the difference between Ethereum and bitcoin, Ethereum introces the concept of gas, the purpose of which is to limit the amount of work required to execute the transaction and pay for the execution. Gas is used to measure the resources (including computation, storage, bandwidth, etc.) consumed by your transaction (or contract code call)

extended data:

ten rights of miners:

1. The "ten rights" of coal mining enterprise workers in safe proction include: the shift leader does not go down the well, and the workers have the right not to go down the well; The workers have the right to leave the well early if the shift leader leaves the well early; Workers have the right not to work if potential safety hazards are not investigated; If the management personnel command against rules and regulations, the workers have the right not to carry out them

Without safety measures, workers have the right not to start work; Workers have the right not to go down the well if they don't organize safety study before class; If the "Trinity" (monitor, safety inspector and gas inspector) safety inspection is not carried out, workers have the right not to start work

The workers have the right not to start the work if the detection and monitoring system is not installed in place and operates abnormally; Workers have the right not to go down the well if they are not equipped with fully qualified labor protection and protective equipment; The route to avoid disaster is not marked, and workers have the right not to go down the well. The coal mine shall not dect the wages and dismiss the workers for the above reasons

7. The biggest disadvantage of Ethereum is that its quantity has been increasing. How can an item without an upper limit be used as an investment proct? As we all know, the rise in the price of a commodity is in the final analysis the quantity comparison between the supply and demand sides. The supply exceeds the demand, the price falls, the supply is less than the demand, and the price rises. The amount of bitcoin and lettercoin is fixed. The total amount of bitcoin is 21 million, and now there are more than 10 million. The rest will take another 100 years. Now the amount of Ethereum is more than 90 million, and 18 million will be generated every year. Ethereum has 250 blocks per hour, 5 coins for each block (and some transaction fees and other rewards), 24 hours a day, that is, 30000 + coins will be added every day. So there's no limit to the amount of ether

how many years can the ether coin be g
how many Ethernet coins can be proced each year? At present, five new ether coins are generated for each new block. If you dig out a block every 14 seconds, it will take 31.5 million seconds (365 x 24 x 60 x 60) a year, which means that 2.25 million blocks are g out every year
every miner has considered how long the ether coin can be g, whether I can't dig the ether coin after I buy the miner, or I can't dig the ether coin after I invest in the miner. I can tell you clearly that the ether coin can't be g up, and the official shows the quantity when it comes to the ether coin, but don't go, Ethernet currency is constantly bifurcating. Once the quantity is threatened, it will continue to bifurcate. The miners can continue to dig for new currencies from the bifurcations. For example, etc and ETF are examples. After the bifurcations, the ETH price will go up crazily. Therefore, miners need not worry about the quantity of Ethernet currency.

8. Miner's fee refers to the incentive fee paid to miners ring digital currency transfer. This amount is not fixed. Of course, the more miner's fee you pay, the faster it will be packaged. It can be understood as the transaction cost in the blockchain network. If you are interested, you can learn about celletf

9. The digital currency transaction must be the digital currency recognized or issued by your platform before it can be traded. The absenteeism fees collected are not all currencies that can be traded.