Does BTC need hard bifurcation
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
The capacity of a block in bitcoin is 1m (megabytes). A transaction is between 250 and 500 bytes
according to this algorithm, a block contains about 4194.3 transactions
the confirmation time of a block in bitcoin is 10 minutes, so the seven transactions that a block can process per second may sometimes be less than seven
What are the consequences The bifurcations of
bitcoin are divided into hard bifurcations and soft bifurcations
hard fork means that when the block format or transaction format of bitcoin changes, the UN upgraded nodes refuse to verify the blocks proced by the upgraded nodes
the upgraded nodes can verify the blocks proced by the non upgraded nodes, and they continue the chain they think is correct, so they are divided into two chains
What is soft bifurcationsoft bifurcation means that when the data structure of bitcoin transaction changes,
UN upgraded nodes can verify the blocks proced by upgraded nodes,
and upgraded nodes can also verify the blocks proced by UN upgraded nodes
In the discussion of blockchain, bitcoin and other digital currencies, we often hear the word "bifurcation". So what is bifurcation? What is the effect of bifurcation
blockchain
before talking about bifurcation, popularize a little knowledge of blockchain, so as to help us understand what bifurcation is more easily (if you don't have any concept of blockchain, please read my previous articles, which are all popular words to help you understand what blockchain is)
blockchain, as the name suggests, is a chain composed of blocks. Of course, this kind of chain is just a figurative metaphor. To put it bluntly, data blocks are connected orderly. In bitcoin, the transaction records of bitcoin are stored in the block. The size of the block and the space occupied by the transaction records determine how many transactions can be stored in a block. These transaction records are packaged into blocks, and then the blocks are connected one by one to form a blockchain
We know that bitcoin software, like other software, needs to be updated and modified regularly in order to make it better. So a new version will appear, but not everyone will download the new version, so one miner will run the old version, and some will run the new version. If the old and new versions are not compatible, the blockchain will bifurcate. Because there may be differences between the version blocks and the old version blocks, they cannot be connected to the same blockchain, so there will be two or even more chains, which is called bifurcation
soft forking
soft forking refers to that when the new consensus rules are released, nodes that have not been upgraded will proce illegal blocks because they do not know the new consensus rules, resulting in temporary forking. This kind of bifurcation will be graally repaired with the upgrading of nodes
hard fork
hard fork refers to the permanent divergence of the blockchain. After the release of the new consensus rules, some nodes that have not been upgraded cannot verify the blocks proced by the upgraded nodes, and usually hard fork occurs. Therefore, in the field of digital currency, hard bifurcation often leads to the emergence of new currencies. For example, the hard bifurcation of Ethereum led to the emergence of eth
What is bifurcation? What is bitcoin bifurcationexisting definition:
[lightning definition] hard fork refers to that when the bitcoin block format or transaction format (this is the widely spread "consensus" (should be part of the agreement consensus)) changes, the UN upgraded node refuses to verify the blocks proced by the upgraded node, but the upgraded node can verify the blocks proced by the UN upgraded node, Then we continue the chain that we think is right, so we divide it into two chains< A permanent divergence in the block chain, commonly occurs when non upgraded nodes can't validate blocks created by upgraded nodes that follow new consensus rules, The UN upgraded node can verify the blocks proced by the upgraded node, and the upgraded node can also verify the blocks proced by the UN upgraded node<
a temporary fork in the block chain which commonly occurs when miners using non upgraded nodes vialate a new consensus rule their nodes don't know about.
I don't think we can say which definition is right or wrong. The specific definition can be summed up according to the differences between the two that have been widely agreed in the community, and it doesn't need authority to specify
hard fork: without forward compatibility, the previous version will be unusable and need to be upgraded
soft fork: it has good compatibility, at least some functions of previous versions are available, and can not be upgraded
hard branching: at the level of blockchain, there will be two branching chains, one old chain and one new chain
soft bifurcation: there are no forked chains at the level of blockchain, but only the blocks that make up the chain, including new blocks and old blocks
hard forking: it is necessary to agree with the forking upgrade at a certain time point, and those who do not agree will enter the old chain
soft bifurcation: for quite a long time, it is allowed to continue to use the original version to generate old blocks and coexist with new blocks without upgrading
preventive measures:
1. Start the firewall of windows first
2. Right click the network icon in the lower right corner - Sharing Center - Windows Firewall - Advanced Settings - inbound rules on the left - new port on the right - TCP - input these ports - deny access
turn on Tencent mobile phone housekeeper security protection (or in-depth check and kill, turn on settings stubborn Trojan horse special kill)
if it's not enough, You can get the root and clear it
Open Tencent mobile phone manager (PC) - App treasure - Toolbox - one click root
or swipe the machine
Open Tencent mobile phone manager (PC) - App treasure - Toolbox - swipe the machine
or leave the factory
click settings immediately, find the settings to restore the factory, click to restore the factory and restart the phone. Virus Trojans are basically cleared. If there is a memory card, take it out, format it and put it back into the phone
3. Keep a good habit of using mobile phones. Install well-known security software, don't log on the website of pornography, gambling and drugs, don't click the unknown link, don't click the SMS with link from friends, often scan the mobile phone system, etc
4. If you find a problem, you must solve it immediately. Don't delay your time.
I hope so
1. Segwit2x completes the hard fork upgrade, that is, the 1m block becomes 2m. And most of the computing power of the whole network supports the upgraded btc1 (or the compatible version of btc1), so that BTC maintains a chain
2. The segwit2x hard fork failed, and the BTC continued to maintain the 1m block size. Most of the computing power of the whole network runs on the node version that is not upgraded, such as bitcoin core 0.15, so that BTC maintains a chain
3. Segwit2x hard bifurcation is successful, but it splits into a new chain, namely two chains. Btc1 and bitcoin core 0.15 are supported in the whole network. It's the old 1m blockchain. And the new 2m blockchain. At present, both miners and developers hold opinions on both sides. I don't know the specific support. Users are currently in the melon eating crowd
in my opinion, in the first case, the best way is to complete the hard fork upgrade and get the support of computing power
the worst case is the third. Because in the end, a chain will die. When a chain dies, all the transactions generated in the chain will be lost, which will lead to most people losing money
the second situation has nothing to say.
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.