Name of Ethereum blockchain

1. Eth is a kind of digital token of Ethereum, which is regarded as "bitcoin version 2.0". It adopts the blockchain technology "Ethereum", which is different from bitcoin. It is an open-source public blockchain platform with intelligent contract results, and a resonance network composed of tens of thousands of computers around the world. Developers need to pay eth to support the application. Like other digital currencies, ether currency can be bought and sold on the trading platform

warm tips: the above explanations are for reference only, without any suggestions. There are risks in entering the market, so investment should be cautious. Before making any investment, you should make sure that you fully understand the nature of the investment and the risks involved in the proct. After a detailed understanding and careful evaluation of the proct, you can judge whether to participate in the transaction
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2.

Blockchain includes public blockchain, joint (instry) blockchain and private blockchain. Public chain point-to-point e-cash system: bitcoin, smart contract and decentralized application platform: Ethereum

blockchain is a new application mode of distributed data storage, point-to-point transmission, consensus mechanism, encryption algorithm and other computer technologies

blockchain is an important concept of bitcoin. In essence, it is a decentralized database. At the same time, as the underlying technology of bitcoin, it is a series of data blocks generated by using cryptographic methods. Each data block contains a batch of bitcoin network transaction information, Used to verify the validity of its information (anti-counterfeiting) and generate the next block

extended data

according to the different degree of blockchain network centralization, three kinds of blockchains under different application scenarios are differentiated:

1. The blockchain with the whole network open and without user authorization mechanism is called public chain

2. The authorized nodes are allowed to join the network, and the information can be viewed according to the authority. It is often used in the inter agency blockchain, which is called alliance chain or instry chain

3. All the nodes in the network are in the hands of one organization, which is called private chain

alliance chain and private chain are also called licensing chain, and public chain is called non licensing chain

blockchain features

1, decentralization. Blockchain technology does not rely on additional third-party management institutions or hardware facilities, and there is no central control. In addition to the self-contained blockchain itself, each node realizes information self verification, transmission and management through distributed accounting and storage. Decentralization is the most prominent and essential feature of blockchain

2. Openness. Blockchain technology is based on open source. In addition to the private information of all parties involved in the transaction is encrypted, the data of blockchain is open to everyone. Anyone can query blockchain data and develop related applications through the open interface, so the information of the whole system is highly transparent

3. Independence. Based on consensus specifications and Protocols (similar to various mathematical algorithms such as hash algorithm used by bitcoin), the whole blockchain system does not rely on other third parties, and all nodes can automatically and safely verify and exchange data in the system without any human intervention

4. Safety. As long as 51% of all data nodes cannot be controlled, the network data cannot be arbitrarily manipulated and modified, which makes the blockchain itself relatively safe and avoids subjective and artificial data changes

5. Anonymity. Unless there are legal requirements, technically speaking, the identity information of each block node does not need to be disclosed or verified, and the information can be transferred anonymously

3.

what is Ethereum:

Ethereum is an innovation based on the application of technologies and concepts in bitcoin to computers. Ethereum itself imitates a lot of bitcoin technology to maintain the computer platform. Blockchain technology is one of them
Ethereum platform can safely run any program users want

advantages of Ethereum over other competitive currencies before Ethereum appeared, some digital currencies imitated bitcoin. However, these projects have their own shortcomings, they can only support one or several specific applications at the same time< However, the reason why Ethereum can surpass the limitations of these projects in the past is because of the core idea of Ethereum

what Ethereum wants to implement is a blockchain protocol with built-in programming language. Since it supports programming language, in theory, any blockchain application can be defined with this language, and then run on Ethereum's blockchain protocol as an application

The design of Ethereum is very flexible and adaptable

Ethereum target sets the advantages of blockchain technology, in order to add the advantages of blockchain, such as decentralization, openness and security, to almost all computing fields

blockchain applications of Ethereum

Ethereum has many blockchain applications, such as digital applications of gold and stocks, financial derivatives applications, DNS and digital authentication, etc

Ethereum has achieved more than 100 blockchain applications by many start-ups

Ethereum has also been closely watched by some financial institutions, banking consortia (such as R3), as well as large companies like Samsung, Deloitte, RWE and IBM. As a result, a number of blockchain applications such as simplified and automated financial transactions, merchant loyalty index tracking, and gift cards designed to achieve decentralization of electronic transactions have emerged

the relationship between Ethereum and blockchain:

Ethereum is a programmable blockchain

Ethereum does not give users a series of preset operations (such as bitcoin transaction), but allows users to create complex operations according to their own wishes

in this way, Ethereum can be used as a platform for various types of decentralized blockchain applications, including but not limited to cryptocurrency

like other blockchains, Ethereum also has a peer-to-peer network protocol. Ethereum blockchain database is maintained and updated by many nodes connected to the network. Each network node runs the Ethereum simulator and executes the same instructions. Therefore, people sometimes call Ethereum "world computer"

4. Ethereum, ETH for short. At the end of 2013, vitalik released the white paper of Ethereum, and in July 2014, the pre-sale of Ethereum began. At that time, insiders called this kind of token issue "crowdfunding". Through the 42 day pre-sale, the Ethereum team raised more than 30000 bitcoins through the pre-sale of 60102216 Ethernet coins; In addition, the early contributors who participated in the development before the pre-sale and the developers who have been engaged in project research for a long time are allocated according to 9.9% of the total amount of Ethernet coins sold at that time. So when Ethereum was officially released, there were more than 72 million Ethereum coins. After the end of Ethereum's pre-sale, it uses the proof of work mechanism POW for mining, and rewards the miners according to 26% of the total amount issued at that time every year. In October 2014, Ethereum reced the block output time from 60 seconds to 12 seconds, and now it is basically stable at 15 seconds, with 5 etheric coins awarded for each block
although the pow mining mechanism is adopted, the block out mechanism of Ethereum is different from that of bitcoin. Due to the short block time of Ethereum, Ethereum is easy to form isolated blocks. Isolated blocks refer to the blocks that are not on the longest chain. Bitcoin's isolated blocks have no block rewards, but in Ethereum, isolated blocks can be referenced. The referenced isolated blocks are called "Uncle blocks", and their packaged data will also be recorded in the blockchain. Unlike bitcoin, Ethereum's TERT block has a reward, and each TERT block can get a reward of 4.375 Ethernet coins at most
Ethereum is a programmable and Turing complete blockchain development platform, which is equivalent to a decentralized global computer. In a programming system, there are usually some virtual machines to compile and execute. Java has JVM. In Ethereum, there is also Ethereum's virtual machine EVM, which can execute any complex algorithm code. Developers can use existing programming languages such as JavaScript or Python to create their own applications on Ethereum. Through Ethereum's virtual machine, you can easily issue digital assets, write smart contracts, set up and run decentralized applications, and set up decentralized autonomous organizations
eth is also known as the internal fuel of Ethereum. Unlike currency digital assets, Ethereum is not only used for transfer, but also for payment of smart contracts
in order to prevent the Ethereum blockchain from being full of junk contracts and junk applications, and to establish and run smart contracts on Ethereum, you must use eth to pay for smart contracts. For example, when you transfer your newly created digital assets on the Ethereum blockchain, you need to use eth to pay the handling fee instead of your newly created digital assets.

5.

Blockchain 1.0 era usually refers to the development stage of blockchain application represented by bitcoin from 2009 to 2014. They are mainly committed to solving the problem of decentralization of currency and means of payment; After 2014, developers pay more and more attention to solve the technical and scalability problems of bitcoin. At the end of 2013, vitalik buterin released Ethereum white paper "Ethereum: next generation smart contract and decentralized application platform", which introced smart contract into blockchain and opened the application of blockchain outside the currency field, thus opening the era of blockchain 2.0< The so-called smart contract is actually a kind of computer contract that can be automatically executed based on prescribed trigger rules. It can also be regarded as a digital version of traditional contract. It was proposed by interdisciplinary legal scholar and cryptography researcher Nick Szabo more than 20 years ago. This technology was once not used in the actual instry because of the lack of programmable digital system and related technologies, until the emergence of blockchain technology and Ethereum provided a trusted execution environment for it

compared with bitcoin, Ethereum is a complete scripting language of Turing, which supports developers to create and publish arbitrary decentralized applications on the platform. Since its birth, there have been more than 200 decentralized applications based on Ethereum in the world

the chief researcher of bitwindow blockchain said: in the era of blockchain 2.0 represented by Ethereum, blockchain technology has graally expanded from the field of currency and payment to the field of finance. With the development of technology and the wider application of blockchain, the era of blockchain 3.0 beyond the monetary and financial fields will be around the corner. This article is excerpted from bitwindow. China's professional blockchain and digital currency instry analyzes the media, and adheres to a neutral, objective and dialectical attitude to understand and interpret the latest trends of blockchain and digital currency

6. Zilliqa is positioned as the bottom public chain, and its core competitiveness is to greatly improve the throughput of TPS (i.e. transaction processing speed) through fragmentation technology. In the latest experiment, the processing capacity of zilliqa test network reaches 2488 TPS, which is more than 100 times of Ethereum's maximum speed of 20 TPS and 355 times of bitcoin! Through fragmentation technology, when the number of nodes in the network is more, the transaction processing speed will be higher. When the number of nodes reaches tens of thousands, the transaction speed will hopefully reach the speed of visa, a centralized organization
zilliqa project's token name is ZIL, which has been circulated and traded on 23 exchanges. Mainstream exchanges such as fire coin and coin an support it, so it is very convenient to participate. ZIL's maximum supply is 21 billion, of which 12.6 billion will be released directly through contracts, and the other 8.4 billion will be released in the form of mining awards within 10 years
the main network of zilliqa will be launched at the end of 2018 or the beginning of 2019, and the mining reward is rich, especially in the early stage. The electric power cost of zilliqa mining is only 1 / 9 of that of Ethereum, so it is more feasible with less energy consumption. In addition, mining can be carried out through GPU graphics card miner, and can simultaneously double dig ZIL and eth, bringing higher benefits for miners
pay attention to "zilliqacn" to learn more about the progress of the project.

7. Blockchain mainly solves the trust and security problems of transactions, so it proposes four technological innovations to solve this problem:
(1) distributed ledger, that is, transaction bookkeeping is completed by multiple nodes distributed in different places, and each node records complete accounts, so they can participate in monitoring the legitimacy of transactions, At the same time, they can testify together
different from traditional distributed storage, the uniqueness of distributed storage of blockchain is mainly reflected in two aspects: one is that each node of blockchain stores complete data according to block chain structure, while traditional distributed storage generally stores data in multiple copies according to certain rules. Second, the storage of each node in the blockchain is independent and has the same status, which relies on the consensus mechanism to ensure the consistency of storage, while the traditional distributed storage generally synchronizes data from the central node to other backup nodes[ 8]
no single node can record the account data separately, so as to avoid the possibility that a single bookkeeper is controlled or bribed to record false accounts. In theory, unless all the nodes are destroyed, the accounts will not be lost, so as to ensure the security of the account data
(2) asymmetric encryption and authorization technology, the transaction information stored on the blockchain is public, but the account identity information is highly encrypted, which can only be accessed under the authorization of the data owner, thus ensuring the data security and personal privacy
(3) consensus mechanism is how to reach a consensus among all accounting nodes to determine the validity of a record, which is not only a means of identification, but also a means of preventing tampering. Blockchain proposes four different consensus mechanisms, which are suitable for different application scenarios and achieve a balance between efficiency and security
the consensus mechanism of blockchain has the characteristics of "the minority is subordinate to the majority" and "everyone is equal", in which "the minority is subordinate to the majority" does not completely refer to the number of nodes, but also can be the computing power, the number of shares or other characteristics that can be compared by computers“ "Everyone is equal" means that when the nodes meet the conditions, all nodes have the right to put forward the consensus results first, and then directly recognized by other nodes, and finally may become the final consensus results. Taking bitcoin as an example, the workload proof is adopted. Only when more than 51% of the accounting nodes in the whole network are controlled can a nonexistent record be forged. When there are enough nodes in the blockchain, this is basically impossible, thus eliminating the possibility of fraud.
(4) smart contract, which is based on these trusted and tamperable data, can automatically execute some pre-defined rules and terms. Take insurance as an example. If everyone's information (including medical information and risk occurrence information) is true and reliable, it is easy to carry out automatic claim settlement in some standardized insurance procts

8. 1. Bitcoin
it is the birthplace of blockchain technology, and the market has confidence in it. It still maintains a stable growth under the adverse situation of major policies. Once it solves the problem of capacity expansion, the price rise can be predicted
2. Ethereum
compared with bitcoin, the advantage of Ethereum is that it has no policy problems. Although the event led to its bifurcation, the establishment of enterprise version Ethereum alliance may solve this problem. Its concept and Prospect of smart contract attract many developers to follow
the essence of community operation is that the majority decides the minority when indivials support eth
3. Zec
compared with bitcoin and Ethereum, the risk of z-coin will be greater, and its value will take a longer time to reflect. But in the long run, the value of anonymity will be one of the values that human beings generally pursue
4. BTS
bitstocks are very powerful and the system is very stable. Decentralized trading, anchoring system and so on. Although the founder bm's brain damage has hurt the community, the value of bitstocks is obviously undervalued. It is a wise choice to hold bitstocks on the cheap.

9. Ethereum is also a proct of blockchain 2.0, which is an open intelligent contract complete solution. Bitcoin is the most important application of blockchain 1.0, which completes currency and payment transactions well. But when we need to record and transfer more complex asset types, we need the third step - a more powerful scripting system - to finally achieve Turing completeness (the ability to run any currency, protocol or blockchain). Ethereum is a blockchain based project, which aims to provide a Turing complete scripting language and Turing complete platform

blockchain 1.0 mainly refers to bitcoin. Blockchain 2.0 extends to all assets, while blockchain 3.0 goes beyond currency, finance, even commerce, and all areas of our lives, including politics, social relations, ecation, medical care, etc. According to the prediction and conception of people in the instry, the era of blockchain 3.0 will be realized in the next five years. At that time, blockchain will be recognized and accepted by all the public like the Internet, thus completely subverting our lives

McKinsey has submitted a technical report on blockchain to the Federal Insurance Advisory Committee of the United States. The report calls 2009-2016 the "Dark Age" and believes that all blockchain solutions ring this period are based on bitcoin, and the new era of blockchain will begin in 2016. At that time, the application of blockchain will become unprecedented. Applying an original sentence in McKinsey report: Based on the current development speed of blockchain, we believe that blockchain solutions may realize their full potential in the next five years.