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Ethereum open bifurcation

Publish: 2021-03-26 11:37:51
1.

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

  • start soft bifurcation to recover funds

  • 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 ethereal classic etc are: Fire coin, okex, AAX, etc

    2.

    Q: What is bitcoin bifurcation and why

    A: the reason why bitcoin bifurcates is that the underlying technology of bitcoin is blockchain. Some people begin to think that bitcoin's block capacity is too small and there are always congestion. So they ask for bitcoin's upgrade and expansion. Some people think that bitcoin's function is too single and its future development is not optimistic, So these people ask bitcoin to have the function of building DAPP (decentralized application), and some support it, while others oppose it. This kind of divergence can be understood as the bifurcation of bitcoin

    Q: the classification of bitcoin bifurcation

    A: there are two kinds of bifurcations of bitcoin, one is soft bifurcations, the other is hard bifurcations, so what is soft bifurcations

    Q: the formation principle of soft bifurcation

    A: soft fork refers to optimizing and modifying bugs in the original bitcoin network to improve the capacity of the block, such as 2m, 4m or 8m, 16m. The segwit lightning network is the mainstream solution, which is equivalent to a traffic jam on the main road, and the development team will build an auxiliary road to help the main road to divert congestion

    this is a mild solution, which can make the original bitcoin network compatible with the network after soft bifurcation, and the main transaction of bitcoin is still on the main chain

    Q: disadvantages of soft bifurcation

    A: of course, there are disadvantages of soft bifurcation, that is, it can only solve the temporary congestion problem, and after the implementation of soft bifurcation, it can only keep the network unobstructed for a few years. In the future, it needs continuous expansion, which has an impact on the stability of the system

    Q: what is hard bifurcation and its formation principle

    A: another solution is hard fork, which means to upgrade the bitcoin system again, change the height of the block completely in the form of code, and take bitcoin unlimited as the mainstream solution. Generally speaking, it is equivalent to a traffic jam on the main road. We directly abandon this road and find a place to build a three-dimensional transportation hub on the ground and underground. All new cars use this transportation system, which changes the block size of the bitcoin network and optimizes the processing speed of the network

    Q: what are the disadvantages of hard bifurcation

    A: but hard bifurcations also have disadvantages, that is, they are not compatible with the original bitcoin system, which requires all people in the bitcoin network to support hard bifurcations. If some people do not support hard bifurcations, there will be two versions of bitcoin network, which will proce two bitcoins. The blockchains of the two bitcoins form a competitive relationship, This kind of internal friction will lead to greater price volatility and uncertainty of bitcoin's future situation

    Q: a classic case of bitcoin bifurcation

    A: Eth and etc are typical cases of hard bifurcation. The Dao project is a crowdfunding project initiated by slock.it, a blockchain Internet of things company. It was officially released in May 2016. As of June of that year, the Dao project has raised more than $160 million. It wasn't long before the Dao project was targeted by hackers. Because of the huge loopholes in the smart contract, the Dao project was transferred to ether coin with a market value of 50 million US dollars

    in order to recover the assets of many investors and stop the panic, vitalik buterin, the founder of Ethereum, finally proposed the idea of hard bifurcation, and finally completed the hard bifurcation in block 1920000 of Ethereum through a majority vote of the community, rolling back all the Ethereum coins occupied by hackers

    even though Ethereum hard bifurcates into two chains, some people who believe in the tamper proof property of blockchain still stay on the original chain of Ethereum classic. Today, Ethereum (ETH) and Ethereum classic (etc) are ranked in the top 20 in the global cryptocurrency market value, which is one of the reasons why they are regarded as classic cases in the field of hard bifurcations

    Q: the difference and influence between soft bifurcation and hard bifurcation

    A: for users, soft forking will not proce new bitcoin currency. They only need to understand the transaction mode and K-line characteristics of bitcoin. They only need a mainstream wallet of bitcoin

    hard bifurcation will generate new currencies, and there may be more than one new currency. Once the core code of bitcoin is modified and the core code of bitcoin is reconstructed, there may be a second time for the first time, and btc1 and btc23456789 may all happen. Users will be confused. Which kind of coin would be better for me to trade? What kind of bitcoin do I use to pay for a large circulation range? In short, users with dyschooia will crash. Moreover, users need to download wallets of different hard bifurcated systems, which brings complex operation to save and pay bitcoin

    however, correspondingly, the user's right to choose has also increased. You can choose the bitcoin code developed by the development team you like and trust. When the bifurcations of bitcoin are not clear, when the soft bifurcations start to activate and the computing power starts to vote, the best way for users to deal with it is to wait and see. Don't recharge and extract bitcoin in the process of bifurcation

    in addition, soft fork will change the settlement mode of bitcoin all nodes, and some small settlement will be confirmed by the third party node, namely settlement channel. The settlement channel may incur part of the service charge. Similar to the role and business model of UnionPay

    what is bitcoin bifurcation? The difference and influence of soft bifurcation and hard bifurcation

    3. Ethereum can be said to be a very successful currency in technology. In a short period of time, it has formed a trend of convergence. No matter in the technical level or in the market level, it has received global support, and the applications developed around it are emerging in an endless stream. At present, its price has been hovering at 3000 yuan for nearly half a month. I believe that with the progress of the bifurcation, its price is likely to exceed 4000 yuan by the end of the year. As the second largest market value of blockchain projects and bitcoin projects, its value is obviously likely to rise

    Ethereum uses fog computing. The data processing and applications of fog computing are concentrated in the devices at the edge of the network, rather than almost all stored in the cloud, which is an extension concept of cloud computing, which is more in line with the spirit of decentralization of blockchain. If all the storage and operations still stay on the centralized server, then it will not be a real blockchain
    recently, the hot "ethereal cat" on Ethereum network has led to the congestion of Ethereum network. The problem is that the TPS concurrency per second of Ethereum is too low. The emergence of ethereumfog with fog computing will break the embarrassing situation of Ethereum network congestion, and add powerful decentralized storage and additional computing power to the chain.
    4. Ethereum fog, or ETF for short, is a branch chain of Ethereum, which is designed to solve the problem of distributed storage and distributed computing power that Ethereum lacks. In the later stage, it will switch to the hybrid mining of pow + POS. The original coin is ETF

  • after Ethereum bifurcates into etheric fog, the two will exist and develop together< br />

  • 5. The concept of fog computing may be unfamiliar to many chain friends, but it is the most important aspect of ether fog to attract Xiaobian. In fact, the concept of fog computing has been known for a long time, and I always think that fog computing is the future development direction. When it comes to fog computing, we should start with cloud computing. In fact, the cloud computing we see now evolves from the cluster of independent servers, that is, from the original centralized independent servers to large server clusters, but in the final analysis, it is still a form of centralized computing

    compared with the existing cloud computing, fog computing does not rely on the remote server located in the central computer room, but intelligently connects to the nearest distributed computer resources, so as to achieve the most efficient utilization of computing resources. This topology is characterized by decentralized peer-to-peer network, which is a perfect match with blockchain. If cloud computing represents efficient computing power in the Internet era, then in the era of Internet of things and value networking blockchain, fog computing should be the most efficient way of computing power networking
    therefore, compared with the evolution of cloud computing, which is a kind of centralized computing, fog computing is to share computing tasks with all kinds of powerful devices around us, and realize the evolution of decentralized and distributed computing, which coincides with the philosophy of blockchain itself. However, it is necessary to encourage the owners of distributed computing resources to contribute computing power to the fog computing network. It is not only difficult for centralized enterprises (such as Cisco) to organize supply and demand market settlement in real time and monopolize, but also contrary to the decentralized distributed philosophy of fog computing itself, which is difficult to be widely recognized, It is difficult to find a satisfactory solution on how to settle the compensation of fog calculation reasonably

    we can see that Amazon's AWS, Microsoft's azure and Alibaba's aliyun are all centralized operators operating centralized computing services, and the combination of blockchain value network and cloud computing network, which are both decentralized philosophy, is almost perfect. Ethereumfog is born for this purpose. Upgrading Ethereum based on Ethereum will really bring fog computing to us. In the near future, many personal computing devices may contribute their computing power to do useful things on ethereumfog chain, and do not waste every resource to earn corresponding returns< We use cloud computing, but it runs in the remote data center; Fog is close to the ground and lingers around us. Fog computing makes both computing and storage decentralized distributed on the devices around us. The combination of blockchain and value Internet makes more people willing to let their computing resources participate in it. The organic combination of supply and demand is becoming more powerful. Ethereumfog etherfog (ETF) is opening the door to the new world of Ethereum.
    6. This number is not fixed, because the price of bitcoin is constantly changing. The highest price of bitcoin is more than $19000. At present, the price of bitcoin is around $4000. You can log in to the bitcoin exchange to view the bitcoin market in real time.
    7. After all the towers of the first island are closed, there is a sea crossing bridge behind the last tower. You can go to the central island. You can go to the second island through the central island. All the towers of the third island are closed. After all the towers of the last three islands are closed, you can close the larger towers of the central island.
    8. SMCC
    calculate a
    official account virtual currency 168
    detailed explanation
    9. There is a secret book on the Internet, which is to drive the car on water and drive directly to the central island, or the next archive
    chittyeittybb: vehicle flying
    youwonttakemealive
    -
    wanted level + 2
    travelinstyle
    -
    flying car
    however, you can't get to the central island six stars in an unconventional way, even if you get to the central island in a normal way, you can only get to the central island five stars
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