Ethereum difficulty increases speed

1. About digital currency, say some of their own views, you listen to, feel unreasonable just laugh
money, as a measure of transaction value, does not necessarily have value in itself, it can only be used as an intermediate unit of measurement. It's just like China has only RMB as legal tender, that is to say, government guarantee has value. For example, in those war-torn areas, ten jin currency may not buy an egg, which is the reason
back to digital currency, digital currency, until now, no country has recognized it as the currency in circulation of its own country. It seems that last year or the year before last, our country also banned some. In this case, digital currency can only be sold at a price higher than your purchase price, so that you can make money. But digital currency itself does not have any value. Unlike stocks, it is your ownership of listed companies. So if you can't find someone to buy digital currency, it's worthless
the Ponzi scheme in history, the Dutch tulip, when it was the most expensive, a tulip was worth buying a house. When no one bought it, all the tulips rotted. In addition, they couldn't get a potato. Therefore, Buffett said that digital money is a bubble, which is a hoax.
in addition, there is a saying in the stock market that when all the ladies in the vegetable market begin to discuss the stock market, it is the time when the stock market reaches its peak. In my opinion, this also applies to digital currency. When many people are discussing how to make money and how to make a lot of money, the risk has accumulated to a great extent. Most of the time, when the stock begins to fall, many people are still in the previous inertial thinking, thinking that it will rebound soon, and then it will get lower and lower, and they are more reluctant to sell it. This is why many people hold a high position on it
I'm not sure whether it is the highest point of digital currency, but I think that digital currency, which can be issued by anyone, has no purchase value and can only be sold to others. I think it's a fraud.

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.

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

4. When it comes to money, mining is indispensable. In Ethereum network, if you want to get Ethereum, you also need to mine it. When it comes to mining, there must be a consensus mechanism
do you remember what the consensus mechanism of bitcoin is? The consensus mechanism of bitcoin is pow. To put it simply, the more work you do, the higher the amount of computation you pay, the more likely you will be the first to find the correct hash value, and the more likely you will be rewarded with bitcoin
however, there are some defects in the pow of bitcoin, that is, it is too slow to process transactions, and miners need to constantly collide hash values through calculation, which is costly and inefficient. Friends who are interested in blockchain knowledge should see such a saying:
in order to make up for the deficiency of bitcoin, Ethereum has proposed a new consensus mechanism, called POS (this is the abbreviation of English, which means "proof of equity", also translated into "proof of equity")
POS simply means the same as its literal meaning: equity, equity. The more currency you hold, the more equity you have, the higher your equity
Ethereum's POS means that the more money you hold, the longer you hold it, the less difficult it will be to calculate and the easier it will be to mine
in the initial setting of Ethereum, Ethereum hopes to build a relatively stable system by using POW in the early stage, then graally adopt POW + POS, and finally completely transition to POS. So, it's true that the consensus mechanism of Ethereum is POS, but POS is only a plan or goal at the beginning of Ethereum's release. At present, Ethereum has not yet transitioned to POS, and the consensus mechanism adopted by Ethereum is still pow, that is, the pow of bitcoin, but it is slightly different from the pow of bitcoin
the amount of information here is a bit large,
the first information point is that the consensus mechanism currently adopted by Ethereum is also pow, but it is slightly different from the pow of bitcoin. So, what's the difference between the pow of Ethereum and bitcoin: in short, the mining difficulty of Ethereum can be adjusted, but the mining difficulty of bitcoin can't be adjusted. Just like our college entrance examination, because the teaching situation and the number of students in different provinces are not the same, so the college entrance examination is divided into national papers and provincial independent proposition
Ethereum said that I am in favor of the topic by region. Bitcoin said: No, it must be the same volume in the whole country. The difficulty is the same for everyone
the popular explanation is that bitcoin uses computer computing power to do a lot of hash collisions, enumerate various possibilities to find a correct hash value. The Ethereum system has a special formula to calculate the difficulty of each block. If a block is verified faster than the previous block, Ethereum protocol will increase the difficulty of the block. By adjusting the block difficulty, the time needed to verify the block can be adjusted
according to the Ethereum protocol, the dynamic adjustment method of difficulty is to make the time interval of creating new blocks in the whole network 15 seconds, and the network uses 15 seconds to create blockchain. In this way, because the time is too fast, the synchronization of the system is greatly improved, and it is difficult for malicious participants to launch 51% (that is, more than half) of the computing power to modify historical data in such a short time
the second information point is: in the initial setting of Ethereum, we hope to achieve the transition from POW to
POS through phased upgrade
dating back to 2014, at the beginning of Ethereum's launch, the team announced that the launch of the project would be divided into four stages, namely, Froniter, homestead, metropolis and serenity. In the first three stages, the consensus mechanism adopts pow (workload proof mechanism), and in the fourth stage, it switches to POS (equity proof mechanism)
on July 30, 2015, the first phase "frontier" of Ethereum was officially released. This phase is only suitable for developers. Developers can write smart contracts and decentralized application DAPP on Ethereum network, and miners begin to enter Ethereum network to maintain network security and get Ethereum coins. The leading-edge version is similar to the beta version, proving whether the Ethereum network is reliable or not
on March 14, 2016, Ethereum entered the second stage of "homeland". In this stage, Ethereum provides the wallet function, so that ordinary users can easily experience and use Ethereum. There is no obvious technology improvement in other aspects, but it shows that Ethereum network can run smoothly
in September 2017, Ethereum has reached the third stage of "metropolis"“ "Metropolis" is composed of Byzantine and Constantinople. The goal of this stage is to introce the hybrid chain mode of POW and POS, so as to prepare for the smooth transition from POW to POS. This is the latest popular "Ethereum Constantinople upgrade". In the Constantinople upgrade, Ethereum will make some changes to the underlying protocols and algorithms to lay a good foundation for the implementation of POW and
POS
how much reward will Ethereum get for mining? Miners who win the block creation competition will get the following income:
1. Static reward, 5 ethereums
2. The fuel cost in the block, i.e. gas, we talked about in the last issue
3. As a part of the block, it includes the extra reward of "Uncle block". Uncle is uncle of uncle, and each uncle block can get 1 / 32 of the mining reward as a reward, that is, 5 times 1 / 32, which is equal to 0.15625 ethereums. Here, let's briefly explain the concept of "TERT block". The concept of "TERT block" was proposed by Ethereum. Why should we introce the concept of TERT block? This also starts with bitcoin. In the bitcoin protocol, the longest chain is considered absolutely correct. If a block is not part of the longest chain, it is called a "orphan block". An isolated block is a block, which is also legal, but it may be found later, or the network transmission is slower, and it does not become part of the longest chain. In bitcoin, the solitude is meaningless and will be discarded later, and the miners who find the solitude will not receive mining related rewards
however, Ethereum does not think that isolated blocks are worthless, and Ethereum system will give rewards to miners who find isolated blocks. In Ethereum, isolated blocks are called "Uncle blocks", which can contribute to the security of the main chain. Ethereum's ten second block interval is too fast, which will rece the security. By encouraging the use of tertiary blocks, the main chain can obtain more security guarantees (because the isolated block itself is legal). Moreover, paying the tertiary block can also stimulate the miners to actively mine and actively use tertiary blocks. Therefore, Ethereum thinks that it is valuable.

5.

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 the

blockchain 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

6. If this is only the most basic, it can be done by 100000 yuan. If you need to add other functions, it depends on the difficulty of the functions you add. If you want affordable price and good service, I suggest you consult Shengshi Huacai company. I've used it for two years, and almost no problems have occurred.

7. After detailed calculation by the wikilink team, at present, the transaction confirmation speed of wikilink can reach 1000 + TPS, far faster than that of Ethereum. At the same time, wikilink will adopt the side chain architecture, each application will have its own independent side chain, and the application data will be independent of each other. The side chain will register its hash on the main chain every other period of time, so as to ensure the side chain from rollback attack.

8. 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.

9. Ethereum is a low-level system that can realize intelligent contract and open source on the blockchain. At present, the biggest development problem of Ethereum is that all applications use the main chain, which leads to the main chain not being separated and blocking seriously. The mission of aelf (ELF) is to solve it,? LF emphasizes the pure decentralized network, the side chain and the main chain can flow, and the asset side chain is connected to the main chain. It focuses on the "n-side", because it turns the planar blockchain structure into a three-dimensional multi-dimensional structure. It can divert the block trading volume to the greatest extent. Therefore, problems like "blocking" or even "paralyzing" existing in Ethereum will not appear on aelf. This is also the reason why elf token will double in two weeks, indicating the development direction of the next regional chain technology.