Ethereum P2P discovery process
Publish: 2021-05-24 11:17:45
1. Based on the core idea of bitcoin network, Ethereum project puts forward many innovative technical concepts, including smart contract, account based transaction, Ethereum and fuel.
2. At the top of Ethereum is DAPP. It exchanges with the smart contract layer through Web3. JS. All smart contracts run on EVM (Ethereum virtual machine) and use RPC calls. Below EVM and RPC are the four core contents of Ethereum, including: blockchain, consensus algorithm, mining and network layer. Except DAPP, all other parts are in the Ethereum client. The most popular Ethereum client is geth (go Ethereum)
3. Ethereum is not a kind of currency, but a decentralized intelligent protocol. It can be understood as a huge global account book. The logic of this intelligent protocol does not need a specific server to support its daily operation. Instead, it is the protocol terms given by the executors before entering among the scattered users. This is an application evolved from decentralization
compared with bitcoin, we can find that Ethereum is more difficult to develop a new encryption technology than bitcoin. This breakthrough has greatly reced the development cost and time for developers who apply blockchain technology. The emergence of Ethereum once again reiterated the need to split the center, as well as the feasibility and advantages of decentralized distributed applications, to the existing economic market, the financial sector a new direction of development and throw to the society a new entrepreneurial ideas and opportunities.
compared with bitcoin, we can find that Ethereum is more difficult to develop a new encryption technology than bitcoin. This breakthrough has greatly reced the development cost and time for developers who apply blockchain technology. The emergence of Ethereum once again reiterated the need to split the center, as well as the feasibility and advantages of decentralized distributed applications, to the existing economic market, the financial sector a new direction of development and throw to the society a new entrepreneurial ideas and opportunities.
4. 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.
5. They are essentially the same, belong to the network virtual currency, but the way of birth is different, because the algorithm is different, so it leads to the difference of the total amount. Bitcoin is a kind of digital currency invented by Nakamoto Cong, which exists in the form of P2P. It realizes distributed accounting through blockchain technology. Due to its scarcity, its valuation is relatively high. Ethereum is a kind of digital token of Ethereum. Developers need to pay Ethereum to support the application. It was invented by a Chinese company based on bitcoin algorithm
if you want to understand the content of blockchain bitcoin, it is recommended to go to relevant websites to have a more comprehensive look, such as bitmaster and Babbitt forum.
if you want to understand the content of blockchain bitcoin, it is recommended to go to relevant websites to have a more comprehensive look, such as bitmaster and Babbitt forum.
6. Now digital currency is a zero sum game, you put money in, I put money in, I take out more, you take out less, then I make money, earn your money, so simple.
7. The bifurcation of Ethereum Constantinople is about to begin. Many people are curious about this bifurcation and are not sure whether they need to be prepared in advance
to put it simply: if you are only the holder of eth, you don't need to make any preparation for this upgrade.
to put it simply: if you are only the holder of eth, you don't need to make any preparation for this upgrade.
8. Life is like a pool of ckweed, green and green, with a little bit of water color. When there is no wind, it is like a piece of cloth on the surface of the pool, without any wrinkles. It is also like a natural bronze mirror floating in the pool. Among them, there are also several branches that go straight across the surface of the pool. The surface of the ckweed is slightly broken, but it can't be completely cut, which shows its vitality. Weeds and Kingfisher also disturb the surface of ckweed from time to time, and the ripples of fish are inevitable, which makes ckweed more crowded and tense. Strong wind, wrinkled is ckweed; It is weeds that bend their heads; It is Kingfisher that has disappeared for a long time. The wrinkle is only for a moment. When the wind is a little small, Ping's face returns to its original state. After that, it was wrinkled and floating. Sometimes there are fish "visits.". Wind is the devil, weeds are bacteria, but they can't destroy it. After the wind, the surface is still intact - except for a few sundries. This reminds me of Wen Tianxiang's poem "life experience is ups and downs, the rain hits Ping". Yes, life is not like ckweed. There are always disturbances in a quiet life; And the wind and waves contain a peaceful life. The twists and turns of life, it is not the wind ckweed survival, ckweed is to take root in the water, and people are to survive in the world. Bumpy, long life, sighing to the sky, sighing the past life; Praise the Yellow River, praise the Yellow River majestic; Weeping at the grass, weeping grass nobody knows; Standing on the high mountain singing, singing the power of the high mountain; If there is only the tranquility of ckweed and no strong wind in life, then life is a cup of fresh water and tasteless; If there is only Xiaohe's selfishness, the world is frozen everywhere; If there is only the arrogance of Dashan, there is no selfless love in the world... Your own life and your own road are under your own feet and controlled by yourself. life! Duckweed!
9. Blockchain digital currency uses cryptography design to ensure the security of all aspects of currency circulation. The decentralized nature of P2P and the algorithm itself can ensure that it is impossible to artificially manipulate the value of money by making a large number of bits.
10. Sorry, I don't know much about this. I can't put forward my CCT yet. Now I can only do tasks every day, which is far from enough, but I will try my best all the time.
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