Ethereum to you
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; Or
start soft bifurcation to recover funds; Or
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 etc
hot money, okex, AAX, etc
At present, there are many channels for domestic users to buy Ethereum. Here are some common channels:
< H2 > 1. Coincola is an over-the-counter trading platform for indivials to trade bitcoincoy Cola is affiliated to Hong Kong coincola limited, which is developed and operated by a professional international team, focusing on providing convenient and reliable blockchain services for global users. Coincola gathers global users and is committed to building a world-class blockchain asset platform
in coy cola, people from different countries can buy bitcoin with their own currency. The seller of the website publishes the advertisement of selling bitcoin, and explains the payment method and exchange rate. You can choose to trade directly online according to the content of the advertisement. Bitcoin is stored in Ke Ying Cola's Internet wallet. You can transfer bitcoin directly
2. How to buy eth
register the coincola account, and then click "buy" in the top menu of the home page to enter the advertisement list page
select the appropriate advertisement from the advertisement list and click "buy eth" to enter the transaction page
enter the amount of money to be purchased or the number of digital currency (please understand the message information of the other party, payment method, and transaction instructions of the platform before entering), click buy now, and the order confirmation pop up. After checking and confirming the information, click confirm purchase to enter the order page
in the chat box of the platform, you can inquire whether the other party is online according to the template statement, and make offline payment according to the collection information and collection method provided by the other party
after the completion of offline payment, click the mark that the payment has been completed at the first time (please complete this operation within 15 minutes at the beginning of placing an order, so as to avoid the payment cannot be recovered e to the cancellation of the order e to overtime), and then customize the input information in the chat box to confirm the payment and ask the seller to confirm the collection and release the digital currency
the progress bar in the top column shows that the goods have been received, indicating that the digital currency has arrived in the wallet. Make comments according to the seller's behavior, and click submit to complete the transaction
with the rapid increase in the number of trading platforms and competitive pressure, many trading platforms will have their own C2C trading. Here we take the relatively large ZB trading platform as an example to illustrate
What is C2C
C2C transaction is a customer to customer transaction, which is guaranteed by the transaction platform. There are many such platforms, such as: Fire coin, otcbtc, bitpai OTC, etc., which are guaranteed by the platform and traded between users. We can simply understand it as: our shopping situation on Taobao is the same as that. In case of dispute, the platform will arbitrate. As long as the transaction is carried out according to the normal process, the security of the transaction is guaranteed
2. ZB's C2C business
ZB platform has two choices: QC and usdt. The basic logic is the same. There are many usdt platforms. QC is the feature of ZB, EXX and other platforms. Here we focus on QC
< H2 > about QCQC is a token. At present, you may know more about usdt and bitcny. At present, there is a special area for QC transaction on ZB. Simply put, QC can buy all other digital currencies (BTC, ETH, EOS, etc.) on ZB. Therefore, after purchasing QC with RMB recharge, you can conct currency transaction on ZB station
The advantage of the < H2 > QC token is that the exchange ratio between the < H2 > < UL >and RMB is 1:1, which is easier to convert
purchasing other tokens with QC can be directly understood as purchasing RMB, and has an intuitive understanding of the currency price
it takes about half an hour to get to the account. It will take about two hours to get to the account in congestion
ZB platform is relatively reliable, and the reputation of ZB is still very good in the past
How to operate C2C of ZB < UL >log in to ZB trading platform and click "C2C trading" on the page
to get to the QC transaction page, you need to first bind your bank card. Then, in the buy QC interface, enter the quantity of QC you want to buy. At present, the ratio of QC to RMB is 1:1. Enter the purchase quantity and click "buy now"
after clicking "buy now", you will be prompted to complete the payment within 30 minutes. At the same time, payment information is generated. Please note that the payment must be made according to the prompt
business processing time 9:00-21:00. Non processing time orders will be processed at 9:00 the next day, and the payment will be completed within 24 hours after receiving the order
this means that the merchant you paid will transfer QC coin to your account within 24 hours. According to my experience, you can get to the account in 2 hours ring the day
< H2 > the following points should be paid attention to:1) make sure to use the newly bound bank card for transfer and payment P>
2) note information (that 6 digit) must fill in
3) do not use Alipay, WeChat and other transfers. p>
4) do not fill in the opposite account incorrectly
< UL >about 1-2 hours, you can check whether your QC has arrived in the financial center
after the account is received, you can trade in the "QC" zone of the "spot trading". You can choose the transaction you want to buy and buy the order
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 transactionsthe 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 meanbefore 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 stabilitycompared 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.