What is the data format of Ethereum private key
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BTC bitcoin
bitcoin is the first distributed digital asset platform created. Since its launch in 2009, it has proven to be not only the most popular, but also the largest market capital value. In addition, it is also the most expensive, with a value of $10710 per coin on February 17, 2018. Bitcoin introces the first blockchain distributed ledger dedicated to recording all transactions, and gets rid of the function that users need a central authority to process or verify transactions
its goal is to provide a platform for users to conct cross-border transactions without any intermediary, which is what we call decentralization. The platform's largest money (BTC) supply is about 21 million. Of this figure, about 16.5 million have been mined and are now in circulation. It is mined all the time around the world to ensure the circulation of coins
Advantages:1. Its distributed system provides users with great freedom
2. High portability
This is a secure networkdisadvantages:
1
2. The user may lose the key
eth Ethereum
Ethereum is also a distributed platform, which was created by Network Programmer vitalik buterin in July 2015. Ethereum aims to enable users to create and deploy smart contracts. One of the main functions of smart contracts is to allow the creation of encrypted assets or tokens running on Ethereum networks. Ethereum token is used to purchase various functions such as cloud storage space. These tokens are stored in a digital wallet compatible with Ethereum blockchain
Ethereum's digital currency ether serves as the medium for executing smart contracts. At present, about 98 million ether coins have been mined and circulated, and the circulation supply increases by about 18 million every year. Ethernet coin is created to run on the Ethereum network. It can be used to compensate the participant nodes or transfer from one user to another
advantages:
1
2
The safety was very highdisadvantages: large circulation
< H2 > extended data:generation principle:
starting from the essence of bitcoin, the essence of bitcoin is actually a special solution generated by a bunch of complex algorithms. A special solution is one of the finite solutions of a system of equations. Every particular solution can solve the equation and is unique
in the metaphor of banknotes, bitcoin is the number of the top word of a banknote. The number of the top word on a banknote owns the banknote. The process of mining is to constantly seek the special solution of the equation system through huge amount of calculation. The equation system is designed to have only 21 million special solutions, so the upper limit of bitcoin is 21 million
to mine bitcoin, you can download the special bitcoin computing tools, register various cooperation websites, fill the registered user name and password into the computing program, and then click the operation to officially start
after completing the installation of bitcoin client, you can directly obtain a bitcoin address. When others pay, you only need to post the address to others, and you can pay through the same client
after installing the bitcoin client, it will assign a private key and a public key. You need to back up the wallet data containing your private key to ensure that your property is not lost. Unfortunately, if the hard disk is completely formatted, personal bitcoin will be completely lost
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
Ethereum is an open source public blockchain platform with smart contract function, which provides decentralized virtual machine (Ethereum virtual machine) to process point-to-point contract through its special cryptocurrency Ethereum. The concept of Ethereum was first inspired by bitcoin by vitalik buterin, a programmer, between 2013 and 2014, and now it's 2.0. Ethereum 2.0 is also something that the whole coin circle is waiting for. In order to celebrate the birth of the genesis block of eth2.0 on December 1, chinacoin officially supports the exchange of eth2.0 verification nodes at 17:00 Hong Kong time on November 20, 2020. It will invest its own eth in the verification node mining and exchange qeth to obtain liquidity. It will participate in the mining as soon as the exchange is received. Now it will give back to the user's welfare. The top 1000 eth enjoy the over exchange of qeth according to the ratio of 1:1.02. Compared with eth2.0, qeth has too many advantages: liquidity is guaranteed, users do not need to bear the technical cost, the threshold of participation does not need 32 eth, as low as 0.1eth, nodes are maintained by the platform, and the revenue is distributed according to eth2.0< br /> < br /> < br />
what is Ethereum
Ethereum is often compared with bitcoin, but the situation is different. Bitcoin is a kind of cryptocurrency and distributed payment network, which allows bitcoin to be transferred between users
related: what is bitcoin? How does it work
Ethereum has a bigger goal. As Ethereum says, "Ethereum is a distributed platform running smart contracts.". These smart contracts run on "Ethereum virtual machine", a distributed computing network composed of all devices running Ethernet nodes
"distributed platform" means that anyone can set up and run an Ethereum node just as anyone can run a bitcoin node. Anyone who wants to run "smart contracts" on nodes must pay the operators of these nodes in ether, which is a cryptocurrency related to Ethereum. Therefore, the person running the Ethernet node provides computing power and gets paid in the Ethernet, which is similar to the way that the person running the bitcoin node provides hash power and pays in bitcoin
in other words, although bitcoin is only a blockchain and payment network, Ethereum is a distributed computing network, and its blockchain can be used for many other things. Details are provided in the Ethereum white paper
what is ether
Ethernet is a digital token (or cryptocurrency) related to Ethereum blockchain. In other words, Ethereum is the token and Ethereum is the platform. But now people often use these terms alternately. For example, coinbase allows you to buy Ethereum, which stands for Ethereum
this is technically "altcoin", which actually means a non bitcoin cryptocurrency. Like bitcoin, ether is supported by distributed blockchain - in this case, Ethereum blockchain
developers who want to create applications or Ethereum smart contracts on Ethereum blockchain need Ethernet token to pay for nodes to host it, while users of Ethereum based applications may need Ethernet to pay for services in these applications. People can also sell services outside the Ethereum network and accept Ethernet payments, or they can sell Ethernet tokens in cash - just like bitcoin
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