Bitcoin isolated witness version
Publish: 2021-04-29 06:16:57
1.
bitcoin, English name bitcoin, is a digital currency based on blockchain technology, which is composed of a series of computer-generated complex codes. Like RMB's ￥ and US dollar's $, bitcoin has its own symbol, the "B" in the figure below
The inventor of 
bitcoin is Nakamoto. Satoshi Nakamoto is the creator of bitcoin protocol and its related software bitcoin QT. In 2008, he published a paper called "bitcoin: a peer-to-peer electronic cash system", describing an electronic currency and its algorithm that he called "bitcoin"
In 2009, he released the first bitcoin software and officially launched the bitcoin financial system In 2010, he graally faded out and handed over the project to other members of the bitcoin communityNakamoto is believed to hold about one million bitcoins. If the price of each bitcoin was $2W, it was worth $20 billion at one time. So far, his true identity is still unknown to the outside world, that is to say, no one knows who Nakamoto is
bitcoin appeared after the global financial crisis in 2008. In fact, before that, many people have tried electronic currency, digital currency and virtual currency, but they have not succeeded. There are not only technical reasons, but also social environment and economic background reasons. To some extent, it was the 2008 financial crisis that gave birth to bitcoin
2. How to operate the isolation witness? In fact, it's not so simple ~
isolation witness is a method of blockchain expansion, which has been successfully implemented on lightcoin and bitcoin
at present, each block in the blockchain not only records the specific information of each transfer transaction, that is, at which time point the account receives or transfers out how many bitcoins, but also contains the digital signature of each transaction, which is used to verify the legitimacy of the transaction. The miner needs to verify each transaction one by one with digital signature when packing the block. After confirming that there is no problem, the transaction will be recorded in the block
however, for ordinary users, they only care about the number of assets in each account, and do not need to verify each transaction one by one. Isolation witness is to take out the digital signature information in the block, so that each block can carry more transactions, so as to achieve the purpose of expansion.
isolation witness is a method of blockchain expansion, which has been successfully implemented on lightcoin and bitcoin
at present, each block in the blockchain not only records the specific information of each transfer transaction, that is, at which time point the account receives or transfers out how many bitcoins, but also contains the digital signature of each transaction, which is used to verify the legitimacy of the transaction. The miner needs to verify each transaction one by one with digital signature when packing the block. After confirming that there is no problem, the transaction will be recorded in the block
however, for ordinary users, they only care about the number of assets in each account, and do not need to verify each transaction one by one. Isolation witness is to take out the digital signature information in the block, so that each block can carry more transactions, so as to achieve the purpose of expansion.
3. Bitcoin isolation verification simply means that there is an additional side chain. The main chain and the side chain complement and support each other. Isolation verification is to solve the problem of bitcoin congestion. At the end of 2013, the problem of bitcoin congestion has appeared, and the expansion has become the consensus of the community, but there is no consensus on how to expand
in 2016, the community held a meeting in Hong Kong on capacity expansion. At the meeting, China's absenteeism and bitcoin core reached a consensus and proposed a compromise scheme, namely hard fork and isolation certification. This is the result of compromise between the two sides, but later the core went back on its words and forced absenteeism to accept the isolation scheme, but did not expand the capacity. China mostly opposes the exclusion of isolation verification.
in 2016, the community held a meeting in Hong Kong on capacity expansion. At the meeting, China's absenteeism and bitcoin core reached a consensus and proposed a compromise scheme, namely hard fork and isolation certification. This is the result of compromise between the two sides, but later the core went back on its words and forced absenteeism to accept the isolation scheme, but did not expand the capacity. China mostly opposes the exclusion of isolation verification.
4. Hanging order is the number of orders waiting to be bought and sold behind the five trading prices transmitted from the exchange ring the market trading period. Together with five trading prices, these ten data constitute the most original public data in the whole trading system
5. They won't sue you. It's OK. Once there is a large loss, people will call the police, and you will be miserable
6. If there is a legal will, it should be done according to the will. If there is no will, it should be done according to the legal succession procere. It is necessary to explain the specific situation of your family, who is the registered house, and the specific situation of the heir
7. You can negotiate with each other and use it in turn!
8. Bitcoin client (wallet): software for sending and receiving bitcoin. The most popular is the client downloaded from bitcoin's official website. There are other options
Wallet: it has two meanings: 1. It refers to bitcoin client (client generally refers to desktop client; 2; Wallet generally refers to lightweight client or online wallet); 2. A file that stores bitcoin addresses and private keys
bitcoin address: a string such as "" that you can get from the receiver. Create an address with the client and generate the corresponding private key at the same time
private key: in the context of bitcoin, the private key is associated with the corresponding address (technically, the address is the hash value of the public key corresponding to the private key), and is stored in the bottom layer, allowing you to transfer the bitcoin owned by the current address. Please note that because of the ECDSA encryption algorithm used by bitcoin, it can generate the corresponding public key and address from the private key
transaction: a transaction is a message that informs the whole bitcoin network of the occurrence of a transaction, allows the receiver to use the money, and prevents the sender from double paying.
Wallet: it has two meanings: 1. It refers to bitcoin client (client generally refers to desktop client; 2; Wallet generally refers to lightweight client or online wallet); 2. A file that stores bitcoin addresses and private keys
bitcoin address: a string such as "" that you can get from the receiver. Create an address with the client and generate the corresponding private key at the same time
private key: in the context of bitcoin, the private key is associated with the corresponding address (technically, the address is the hash value of the public key corresponding to the private key), and is stored in the bottom layer, allowing you to transfer the bitcoin owned by the current address. Please note that because of the ECDSA encryption algorithm used by bitcoin, it can generate the corresponding public key and address from the private key
transaction: a transaction is a message that informs the whole bitcoin network of the occurrence of a transaction, allows the receiver to use the money, and prevents the sender from double paying.
9. Bitcoin cash (BCH) is a branch of bitcoin. In fact, in addition to bitcoin cash, bitcoin also has many bifurcated currencies. What does bifurcated currency mean
section one: why do you split up when you don't say a word
the concept of bifurcation originated from bitcoin
as we know, bitcoin trading is based on bitcoin blockchain network (one block by one forms a chain of front and back Association, forming a bitcoin blockchain network). Since a block is a block, it must have capacity (let's fill in the block, it is nothing more than a collection of codes), The size of the block capacity will limit the efficiency of the transaction. If the block capacity is too small, the smaller the number of transactions will be. Once the transaction volume is too large, it will cause congestion
the capacity of bitcoin block is only 1m, and it can hold only 5-7 transactions. In the past, there were relatively few users for bitcoin transactions, so this capacity is no problem. However, with the rise of bitcoin price, more and more users swarmed in, and the bitcoin block could not accommodate so many transactions, resulting in congestion
bitcoin is anxious: slow down, brother Dei, I can't keep up with your trading speed. Hello! Users are also anxious: brother, can you hurry up
this is a big problem, not only because we have limited patience, but also because bitcoin's positioning is currency. As a currency, you should pay and collect money quickly, accurately and ruthlessly. If you are always so slow, when can you realize the currency attribute? So, this is a big problem
of course, the bitcoin community knows the importance of this problem. As for how to solve this problem, the bitcoin community is divided on whether to expand the capacity of bitcoin blocks (as we have just said, it is too little capacity of bitcoin blocks that leads to slow transaction speed and congestion)
the controversy is mainly divided into two camps:
the original development team of bitcoin, led by core, believes that bitcoin is an electronic gold of value storage, which will destroy its core once it is expanded
however, the mining team led by Wu Jihan believes that bitcoin should be a kind of currency with rapid circulation in the future, and it needs to be expanded to solve the problem of transaction congestion. Because of the decentralized nature of the blockchain, no indivial or organization can decide how to "expand" the bitcoin system. Everyone has their own opinions, and their opinions are divided. No one is willing to give in. Therefore, everyone goes their own way. The bitcoin chain has split into BTC and BCH chains, and over time it has evolved into the so-called "bifurcation"
this is the origin of bifurcation
what happens after the second section bifurcates
for blockchain, bifurcation is the change of blockchain protocol, which is similar to upgrading the blockchain to make up for the shortcomings of the system. This is just like our current mobile phone software often prompts you to upgrade
however, we know that blockchain is decentralized. Unlike your mobile software, developers can upgrade when they say so. In the world of blockchain, any modification needs the consensus of all members. No one can decide when to change or how to change the underlying agreement of blockchain
therefore, when the original development team of bitcoin and the miner team have differences, the system will be divided into two parts, and two new systems based on the original blockchain will appear. Everyone has their own problems, and no one can intervene. In this way, the bitcoin system is divided into two chains: BTC and BCH, which are called "bifurcations", and BCH is called bifurcated currency (the bifurcated currency of bitcoin)
in fact, not only BCH, but also bitcoin has many bifurcated coins. Why is BCH the first thing to think of when it comes to bifurcated currencies? This is because BCH is a successful bifurcated currency. When its market value is the highest, it ranks the fourth in the list of cryptocurrencies, next only to bitcoin, Ethereum and EOS
section 3 hard fork and soft fork
let's make a metaphor: if bitcoin system is the trunk of a big tree, then BCH and other fork coins are the branches of the tree. However, bifurcation is not as simple as this metaphor. It can be divided into hard bifurcation and soft bifurcation
first, hard bifurcation: goodbye, never see again
the BCH we mentioned above belongs to hard bifurcation. Hard bifurcation means that nodes using old software can no longer verify blocks proced with new software nodes. If you want to verify, you can only upgrade. After upgrading, it is equivalent to changing the track and running on another new system. Just like BCH to BTC, BCH is a brand new track (a brand new chain), and the coin on this chain is BCH (bitcoin cash). Then, nodes using BCH system can no longer go to BTC network for transaction verification. Hard bifurcations, generally speaking, mean going their own way. There is no intersection any more< Second, soft bifurcation: getting better to meet again
soft bifurcation is opposite to hard bifurcation. Soft bifurcation means that nodes using the old version can verify the blocks proced by nodes using the new version, and nodes using the new version can also verify the blocks proced by nodes using the old version. The two versions are compatible
the way bitcoin upgraded its isolation witness in 2017 is soft bifurcation. In the whole process, it doesn't matter whether we use the old version or the new version, because they are compatible. The new version only solves some problems better. In essence, we are still running on the bitcoin chain, and there is no new coin
to sum up, the difference between soft fork and hard fork is whether nodes using old software can be compatible with nodes using new software. Compatibility is soft fork, while incompatibility is hard fork.
section one: why do you split up when you don't say a word
the concept of bifurcation originated from bitcoin
as we know, bitcoin trading is based on bitcoin blockchain network (one block by one forms a chain of front and back Association, forming a bitcoin blockchain network). Since a block is a block, it must have capacity (let's fill in the block, it is nothing more than a collection of codes), The size of the block capacity will limit the efficiency of the transaction. If the block capacity is too small, the smaller the number of transactions will be. Once the transaction volume is too large, it will cause congestion
the capacity of bitcoin block is only 1m, and it can hold only 5-7 transactions. In the past, there were relatively few users for bitcoin transactions, so this capacity is no problem. However, with the rise of bitcoin price, more and more users swarmed in, and the bitcoin block could not accommodate so many transactions, resulting in congestion
bitcoin is anxious: slow down, brother Dei, I can't keep up with your trading speed. Hello! Users are also anxious: brother, can you hurry up
this is a big problem, not only because we have limited patience, but also because bitcoin's positioning is currency. As a currency, you should pay and collect money quickly, accurately and ruthlessly. If you are always so slow, when can you realize the currency attribute? So, this is a big problem
of course, the bitcoin community knows the importance of this problem. As for how to solve this problem, the bitcoin community is divided on whether to expand the capacity of bitcoin blocks (as we have just said, it is too little capacity of bitcoin blocks that leads to slow transaction speed and congestion)
the controversy is mainly divided into two camps:
the original development team of bitcoin, led by core, believes that bitcoin is an electronic gold of value storage, which will destroy its core once it is expanded
however, the mining team led by Wu Jihan believes that bitcoin should be a kind of currency with rapid circulation in the future, and it needs to be expanded to solve the problem of transaction congestion. Because of the decentralized nature of the blockchain, no indivial or organization can decide how to "expand" the bitcoin system. Everyone has their own opinions, and their opinions are divided. No one is willing to give in. Therefore, everyone goes their own way. The bitcoin chain has split into BTC and BCH chains, and over time it has evolved into the so-called "bifurcation"
this is the origin of bifurcation
what happens after the second section bifurcates
for blockchain, bifurcation is the change of blockchain protocol, which is similar to upgrading the blockchain to make up for the shortcomings of the system. This is just like our current mobile phone software often prompts you to upgrade
however, we know that blockchain is decentralized. Unlike your mobile software, developers can upgrade when they say so. In the world of blockchain, any modification needs the consensus of all members. No one can decide when to change or how to change the underlying agreement of blockchain
therefore, when the original development team of bitcoin and the miner team have differences, the system will be divided into two parts, and two new systems based on the original blockchain will appear. Everyone has their own problems, and no one can intervene. In this way, the bitcoin system is divided into two chains: BTC and BCH, which are called "bifurcations", and BCH is called bifurcated currency (the bifurcated currency of bitcoin)
in fact, not only BCH, but also bitcoin has many bifurcated coins. Why is BCH the first thing to think of when it comes to bifurcated currencies? This is because BCH is a successful bifurcated currency. When its market value is the highest, it ranks the fourth in the list of cryptocurrencies, next only to bitcoin, Ethereum and EOS
section 3 hard fork and soft fork
let's make a metaphor: if bitcoin system is the trunk of a big tree, then BCH and other fork coins are the branches of the tree. However, bifurcation is not as simple as this metaphor. It can be divided into hard bifurcation and soft bifurcation
first, hard bifurcation: goodbye, never see again
the BCH we mentioned above belongs to hard bifurcation. Hard bifurcation means that nodes using old software can no longer verify blocks proced with new software nodes. If you want to verify, you can only upgrade. After upgrading, it is equivalent to changing the track and running on another new system. Just like BCH to BTC, BCH is a brand new track (a brand new chain), and the coin on this chain is BCH (bitcoin cash). Then, nodes using BCH system can no longer go to BTC network for transaction verification. Hard bifurcations, generally speaking, mean going their own way. There is no intersection any more< Second, soft bifurcation: getting better to meet again
soft bifurcation is opposite to hard bifurcation. Soft bifurcation means that nodes using the old version can verify the blocks proced by nodes using the new version, and nodes using the new version can also verify the blocks proced by nodes using the old version. The two versions are compatible
the way bitcoin upgraded its isolation witness in 2017 is soft bifurcation. In the whole process, it doesn't matter whether we use the old version or the new version, because they are compatible. The new version only solves some problems better. In essence, we are still running on the bitcoin chain, and there is no new coin
to sum up, the difference between soft fork and hard fork is whether nodes using old software can be compatible with nodes using new software. Compatibility is soft fork, while incompatibility is hard fork.
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