Ethereum cpow
just like bitcoin, Ethereum is neither controlled nor owned by anyone - it is an open source project created by many people around the world. Different from bitcoin protocol, Ethereum's design is very flexible and adaptable. It is very easy to create new applications on the Ethereum platform. With the release of homestead, anyone can use the applications on this platform safely
Ethereum is a programmable blockchain. It does not give users a series of preset operations, but allows users to create complex operations according to their own wishes. In this way, it can be used as a platform for many types of decentralized blockchain applications
in a narrow sense, Ethereum refers to a series of protocols that define a decentralized application platform. The core of Ethereum is Ethereum virtual machine (EVM), which can encode any complex algorithm. In computer science terminology, Ethereum is "Turing complete.". Developers can use the existing JavaScript and python as the model of other friendly programming languages to create applications running on the Ethereum simulator.
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; Or
start soft bifurcation to recover funds; Or
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 etc hot money, okex, AAX, etc
They are:
bitcoin
the concept of bitcoin was first proposed by Nakamoto in 2009. According to Nakamoto's ideas, the open source software was designed and released, and the P2P network was built on it. Bitcoin is a kind of P2P digital currency. Point to point transmission means a decentralized payment system
bitcoin cash
bitcoin cash is a new version of bitcoin with different configurations launched by a small number of bitcoin developers
extended data:
virtual currency refers to non real currency. Well known virtual currency, such as network company's network currency, Tencent company's Q currency, Q point, Shanda company's voucher, Sina's Micro currency (used for micro games, Sina reading, etc.), chivalrous Yuanbao (used for chivalrous road game), silver pattern (used for bixue Qingtian game)
the popular digital currencies in 2013 are bitcoin, Leyte coin, infinite coin, quark coin, zeta coin, BBQ coin, pennies (Internet), invisible gold bar, red coin and prime currency. At present, hundreds of digital currencies are issued all over the world. Popular in the circle & quot; The legend of "bitcoin, Wright silver, infinite copper, pennies aluminum"
Ethereum is an open source public blockchain platform with smart contract function. It provides decentralized virtual machine (Ethereum virtual machine) to process point-to-point contract through its special cryptocurrency ether (also known as "Ethereum")
The token on theblockchain is called ether, and the code is eth. It can be traded in many foreign exchange markets of cryptocurrency, and it is also the medium used to pay transaction fees and computing services on Ethereum
the concept of Ethereum was first proposed by vitalik buterin, a programmer, from 2013 to 2014, inspired by bitcoin, with the general meaning of "next generation cryptocurrency and decentralized application platform", and began to develop through ICO crowdfunding in 2014. As of February 2018, Ethernet is the second highest cryptocurrency in market value, second only to bitcoin
extended data:
Ethereum platform has no characteristics and value. Like programming languages, it's up to entrepreneurs and developers to decide what to use. However, it is clear that some application types benefit more from the functions of Ethereum than others. Ethereum is especially suitable for those applications that automatically interact directly between points or promote group coordination activities across networks
for example, coordinate the application of point-to-point market, or the automation of complex financial contracts. Bitcoin enables indivials to exchange money without the help of financial institutions, banks or governments. The impact of Ethereum may be more profound
in theory, any complex financial activities or transactions can be automatically and reliably carried out on Ethereum with coding. In addition to financial applications, any application scenario with high requirements for trust, security and persistence, such as asset registration, voting, management and Internet of things, will be affected by Ethereum platform on a large scale
POW: full name of proof of work
pos: proof of stake
both of them are the consensus mechanism of blockchain and the bookkeeping method of digital currency
the difference is:
1. POW mechanism: workload proof mechanism, that is, the proof of workload, is the requirement that must be met when generating a new transaction information (that is, a new block) to be added to the blockchain. In the blockchain network based on workload proof mechanism, the ability of nodes to obtain the correct numerical solution to generate blocks by calculating the numerical solution of random hash hash is the specific performance of node computing power
POS mechanism: the proof of rights and interests requires the certifier to provide a certain amount of ownership of cryptocurrency. The operation mode of the proof of rights and interests mechanism is that when creating a new block, the miners need to create a "currency right" transaction, and the transaction will send some coins to the miners themselves according to the preset proportion. According to the proportion and time of token owned by each node, the equity proof mechanism reces the mining difficulty of nodes proportionally according to the algorithm, so as to speed up the speed of searching for random numbersextended materials:
the concept of bitcoin was first proposed by Nakamoto in 2009. According to Nakamoto's ideas, the open source software and the P2P network on it were designed and released. Bitcoin is a kind of P2P digital currency. Point to point transmission means a decentralized payment system
unlike most currencies, bitcoin does not rely on specific currency institutions. It is generated by a large number of calculations based on specific algorithms. Bitcoin economy uses the distributed database composed of many nodes in the whole P2P network to confirm and record all transactions, and uses the design of cryptography to ensure the security of all aspects of currency circulation. The decentralized nature and algorithm of P2P can ensure that it is impossible to artificially manipulate the value of bitcoin through mass proction
Ethereum can be used to program, distribute, guarantee and trade anything: voting, domain names, financial exchanges, crowdfunding, corporate management,
contracts and most of the agreements, intellectual property, and smart assets that benefit from hardware integration
Ethereum will use a hybrid security protocol. In the early stage, it will use the proof of work (POW) mechanism to distribute Ethernet currency, and then it will switch to the proof of equity (POS) mechanism. Since the launch, there will be 0.26x every year, that is, 60102216
*
0.26
=
15626576 ether coins will be g up by miners every year. After being converted to POS, the annual output of Ethereum will be reced
English Name: Ethereum / eth
Chinese Name: Ethereum
listed exchanges: 156
issuing time: July 24, 2014
Xiamen Ethereum Technology Co., Ltd. is a limited liability company (invested or controlled by natural person) registered in Siming District, Xiamen City, Fujian Province on March 5, 2018. Its registered address is located at unit 901c, Fuxing building, 73 Tainan Road, Siming District, Xiamen city
the unified social credit code / registration number of Xiamen Ethereum Technology Co., Ltd. is 91350203ma31hb9p81, and Xu Fusheng, the legal person of the company, is currently in business
in Xiamen Ethereum Technology Co., Ltd., the current registered capital of the enterprise is general
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