BTC architecture
The price of a bitcoin soared from more than $20000 to $40000. This can not help but arouse my research interest, or simply understand what bitcoin is, what its mechanism looks like, and uncover its mystery. Therefore, after a simple search of some information and some understanding of the special currency, I sorted out the information on hand< (3) purpose: decentralize, rece risk
all servers in the distributed network can store and process data, and each server has equal status, which can store more data and has higher security<
this is the general content of popular science. If you want to know more about it, you can take a look at Nakamoto's paper and the official popular science video below
blockchain technology is not only the underlying technology of bitcoin, but also the core and infrastructure of bitcoin bitcoin has been running without any centralized organization operation and management. Later, bitcoin technology was abstracted, which was called blockchain technology or distributed ledger technology
extended data:
disadvantages of blockchain technology applied to digital currency:
first, there is no circulation management organization for "decentralization" blockchain technology is essentially a distributed database system with one-way linked list logic structure and P2P network design mode, which determines that there is no unified central control system for virtual currency based on blockchain technology
Second, it is difficult to effectively control the quantity supply the circulation of virtual currency based on blockchain technology is fixed, and according to Fisher Equation, the total transaction volume of the whole society under a certain price level in a certain period has a certain proportion with the required nominal currency volume, while the constant currency volume obviously can not meet the requirements of the growing total price of social goods Thirdly, "mining mechanism" is difficult to create recognized value bitcoin itself has no value and no national credit support. Some people think that "by continuously consuming computing power and energy to inject value into virtual currency", but it is obviously not the most efficient choice to consume millions of calculations in order to find a hash value that meets the requirements Fourthly, procers and early holders are easy to get high seigniorage any virtual currency based on blockchain technology is held by a few people at the initial stage of its development. Take bitcoin as an example. At first, bitcoin was only a proct of a few people's game. The first bitcoin purchase in May 2010 was $10000 BTC's purchase of $25 pizza. The first bitcoin transaction completed in July of the same year was $0.04/btcthe P2P network structure adopted by bitcoin is not just the choice of topology. Bitcoin is designed as a point-to-point digital cash system, and its network architecture is the reflection and cornerstone of this core feature. Decentralized control is the core principle of design, which can only be achieved by maintaining a flat and decentralized P2P consensus network
each node in bitcoin P2P network is peer-to-peer, but according to the different functions provided, the division of labor of each node is not the same. Each bitcoin node is a functional set of routing, blockchain database, mining and wallet services. A bitcoin network node includes four functions: wallet, miner, complete blockchain and network routing node
some nodes keep a complete and up-to-date of the blockchain, which is called "all nodes". The whole node can independently verify all transactions without any external reference. In addition, some nodes only retain part of the blockchain, and they complete transaction verification through a method called "simple payment verification (SPV)". Such a node is called "SPV node", also known as "lightweight node"
mining nodes create new blocks in a competitive way through proof of work (POW) algorithm running on special hardware devices. Some mining nodes are also full nodes, keeping a complete of the blockchain; There are also some nodes involved in the mining of the mine pool, which are lightweight nodes, and they must rely on the whole node maintained by the mine pool server to work
User wallets can also be used as part of the whole node, which is common in desktop bitcoin clients. At present, more and more users' wallets are SPV nodes, especially bitcoin wallets running on resource constrained devices such as smart phones, which is becoming more and more common.
Last week, a paragraph about bitcoin became popular:
bitcoin broke through 5800 US dollars (about 38280 yuan) . When it was issued in 2009, 1 US dollar was equivalent to 1300 bitcoins. What is investment? It has increased by 7.54 million times in 8 years. At that time, you spent 38000 yuan to buy some bitcoin. Now you are the richest man in China, surpassing Xu Jiayin, who has 290 billion yuan
but just one week later, on October 20, bitcoin broke through the $6000 mark. Although it fell later, it reached more than $6000 again on October 21, reaching a maximum of $6147. In terms of $6000, bitcoin prices have risen 7.8 million times in eight years
according to cryptocompare, a bitcoin data provider, e to China's strict supervision of cryptocurrency trading, the global share of bitcoin market has been greatly changed. Now, in the total trading volume of the world's bitcoin exchanges, the trading volume of RMB versus bitcoin accounts for about 1.6%
} the proportion of RMB and yen in global bitcoin trading volume (photo source: cryptocompare)
the reporter noted that in the first half of this year, after Japan's legislation recognized bitcoin as a legal payment method, bitcoin's trading volume in Japan surged, and Japanese regulatory authorities have issued certificates to 11 cryptocurrency exchanges. About 58% of bitcoin trading currently takes place in the Japanese market, and nearly a third of yen to bitcoin trading takes place on the bitflyer exchange in Tokyo. In addition, the U.S. and South Korea markets also account for a large part of global bitcoin transactions - the U.S. dollar and the Korean won account for 27% and 7% of the total bitcoin transactions, respectively< br />
network virtual currency generally includes game currency and digital currency
digital currency generally refers to bitcoin, Leyte coin, dogcoin and project crowdfunding token of European crowdfunding platform.