RSK bitcoin side chain Online

1. The issue of bitcoin is determined by the block height, that is, the distance from the No. 0 block of Genesis. Now when the number is reached, the total amount of bitcoin should be limited. After this village, there will be no store. If the miners dig a block but don't receive the reward of the block, the bitcoin will be destroyed forever

coinbase transaction is a special transaction that generates bitcoin "out of thin air". Only miners can write this kind of transaction, and the number of generated bitcoin is limited by rules (new currency reced by half for every 210000 blocks + transaction fee for this block)

however, the rules do not stipulate that the miner must take away all the rewards that can be taken, and can choose not to take them

therefore, a mine pool connected with the RSK side chain has made a bug before, forgetting to take away the reward and occupying a pit in a block for nothing, which is equivalent to destroying the corresponding amount of bitcoin, making the total amount of bitcoin decrease a little bit permanently

in addition, to spend a bitcoin, you only need to specify the transaction ID and output serial number

as like as two peas in multiple blocks repeatedly write identical coinbase transactions, the transaction ID is also repeated.

therefore, this kind of situation also occupies the pit of a block in vain, and permanently destroys the corresponding amount of bitcoin

it seems to me that this is still a security vulnerability, so the new version of bitcoin software later banned the writing of repeated coinbase transactions. But until now, there has been no ban on miners not getting their e rewards

generally speaking, a coin is controlled by a private key. If a coin is transferred to an address where no one knows the private key, it will be destroyed

if the owner does a good job in security, and the private key is not disclosed and cannot be guessed, but he accidentally loses the private key, it is equivalent to destroying all the coins he owns

there are only some special circumstances that require intentional destruction of coins

one is irreversibly converted into another kind of currency, such as the contract currency XCP attached to bitcoin and wormhole cash WHC attached to BCH

the second is to save certificates and data on the chain, such as the time stamp: panbiao.com/2013/08 /

and the crowd funding of the original Ethereum founding team: zhuanlan.hu.com/p/29

the private key is essentially a big number. Whoever knows this number can control the currency on the corresponding address. So the private key must be generated with reliable random number, otherwise it may be guessed and stolen

compared with the token, the address is the hash of the public key. There is no way to judge whether an address has a corresponding public key and private key (even if the public key is known, the corresponding private key cannot be known). Therefore, even if it is explicitly the address of "burned" token, the system does not prohibit the transfer in

strictly speaking, what locks the currency is a small program (script). This program takes the input as the public key and digital signature. First, check whether the public key hash is consistent, and then check whether the digital signature is valid. If it is valid, it will be verified and transfer is allowed; Otherwise, it will be judged that the transaction is illegal and refuse to package into the chain

it is the whole node software that explains and executes this program. It can be said that the software code of the whole node specifically defines a coin

however, the current situation is very embarrassing. Most miners do not run the whole node, only a few mines are running. The vast majority of users do not run the whole node, even if they run the whole node, they can only perform verification, no computing power, no block

2.

reliable, the shell trading platform specially develops a bank management system to solve the problem. All the bank's loan policies are recorded in the system in a very detailed and structured way. When we input the real estate information and customer information, we can realize the intelligent matching of bank selection

extended data

in order to meet the needs of different cities and partners, shell trading platform adopts the "LEGO style" and configuration proct mode, which can quickly and accurately support different real estate trading modes in multiple cities and regions, allowing store owners and brokers to choose appropriate trading professional tools according to local business characteristics

it's like Lego's idea of assembling standard parts one by one, running all the urban processes, concentrating and abstracting, and turning them into a configurable system. Every field becomes every node, every node becomes a process, every process becomes a trading proct, becomes a trading solution, and builds up layer by layer

there are more than 40 cooperative banks in shell trading platform, among which there are 8 (ICBC, Bank of China, Everbright Bank, CITIC Bank, instrial bank, Bank of Beijing, Bank of Hangzhou, Bank of Xi'an)

3. Generally, blockchain, especially public chain, has main network and test network. The main network is a trusted blockchain network recognized by the blockchain community, and its transaction information is recognized by all members. Effective blocks will be added to the block ledger of the main network after the consensus of the blockchain network
many people don't understand what side chain is. This concept comes from bitcoin community and was put forward in December 2013. There are some problems with the birth of bitcoin itself or the mechanism of a blockchain itself. But if you modify bitcoin protocol or chain directly, it is easy to make mistakes. Moreover, because the bitcoin block has been operating continuously, if it is wrong, the amount of funds involved will be very large, which is not allowed
in fact, sidechains do not refer to a particular blockchain, but to all blockchains that comply with the side chain protocol. This term is relative to the main chain of bitcoin
for more information, what is a side chain

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. The main chain is the underlying technology foundation of all blockchain applications, just like chips and operating systems. Whoever can become the main chain of the basic layer of the blockchain and accumulate a large number of users and scenes is likely to become the future giants such as apple and Microsoft
however, for most scenarios of using and developing blockchain, it is not necessary to re create a set of blockchain, as long as we develop our own applications based on the existing underlying blockchain or technical framework. Therefore, for the similar encryption algorithm, P2P technology, consensus algorithm, we only need to have a basic understanding, and do not need in-depth study
the primary goal of blockchain application development is to find a relatively mature underlying blockchain for application development. The underlying blockchain needs powerful and easy-to-use development interface or framework, scalability, transaction frequency, etc
Rong technology is a listed financial technology company, which currently provides main chain construction and development services http://www.erong.com/new/blockchain/backbone/index.html

6.

Meituan belongs to BTC type

BTC (business to customer) is one of the categories of e-commerce according to the trading partners, which means the e-commerce of commercial institutions to consumers

this form of e-commerce is generally based on online retail instry, mainly relying on the Internet to carry out online sales activities

BTC is also called B2C. B2C mode is the earliest e-commerce mode in China

extended information:

the payment method of B2C e-commerce is the combination of cash on delivery and online payment, while most enterprises choose logistics outsourcing to save operating costs

with the change of users' consumption habits and the promotion of excellent enterprise demonstration effect, the number of online shopping users is increasing. In addition, some large-scale examinations such as the civil service examination also began to implement B2C mode

its basic needs include user management needs, customer needs and vendor needs

user management requirements: user registration and user information management

customer needs: provide electronic directory to help users search and find the goods they need

compare similar procts to help users make purchase decisions

evaluate goods, add shopping cart, place order, cancel and modify order

be able to pay online; Track the status of the order

seller's needs: check the customer's registration information

process customer orders

complete the settlement of procts purchased by customers and process customer payment

be able to publish commodity information, publish and manage online advertising

establish an interface with the bank for electronic auction

inventory management

establish interface with logistics distribution system

be able to track proct sales

to achieve customer relationship management

provide after-sales service

7. At least in a few months, RSK will be the bitcoin side chain

8.

RSK smart contract is a smart contract platform based on bitcoin blockchain. RSK (rootstock) has been an eye-catching development platform since its concept was proposed. In essence, RSK is to build a decentralized and Turing complete intelligent contract platform similar to Ethereum. However, RSK is based on the bitcoin ecosystem rather than an independent blockchain. The specific way is to use the side chain technology. This approach has both challenges and great advantages

smart contract platform:

smart contract is the current research hotspot. Nick Szabo came up with the idea 20 years ago. Generally speaking, it is an electronic contract that can be executed automatically based on trigger conditions. Smart contract is the next generation of procts to realize automatic execution in various business environments, which may subvert the existing business model. For example, on-demand economy, such as insurance contract customized according to each journey, reaching the set end of the journey or writing a program to determine, and then the insurance contract ends. This insurance mode can even be connected to P2P mode, which makes traditional insurance companies useless. These simple examples can be realized through RSK smart contract platform

The advantages of

RSK:

RSK has many innovations. Firstly, Turing complete virtual machine is compatible with Ethereum virtual machine. Ethereum contracts can be run on RSK virtual machines. The goal of RSK is to achieve 20 seconds block time and 300 transfer transactions (TPS) per second at the first launch, which can be expanded to 1000 TPS. It has reached the level of PayPal, but it has not reached the throughput of credit card network. Compared with other platforms, the biggest advantage of RSK is the combined mining of bitcoin, and the security level is equal to that of bitcoin network. But it also needs to persuade miners to implement. RSK revealed that they will make miners profitable, and the implementation of the contract round fees will make miners profitable. It is likely that the RSK platform will be very popular and the contract execution will reach a stable level

9. RSK is a smart contract platform based on bitcoin blockchain. RSK (rootstock) has been an eye-catching development platform since its concept was proposed. In essence, RSK is to build a decentralized and Turing complete intelligent contract platform similar to Ethereum. However, RSK is based on the bitcoin ecosystem rather than an independent blockchain. The specific way is to use the side chain technology. This approach has both challenges and great advantages
smart contract platform
smart contract is a hot research topic. Nick Szabo came up with the idea 20 years ago. Generally speaking, it is an electronic contract that can be executed automatically based on trigger conditions. Smart contract is the next generation of procts to realize automatic execution in various business environments, which may subvert the existing business model. For example, on-demand economy, such as insurance contract customized according to each journey, reaching the set end of the journey or writing a program to determine, and then the insurance contract ends. This insurance mode can even be connected to P2P mode, which makes traditional insurance companies useless. These simple examples can be realized through RSK smart contract platform
benefits of RSK

RSK has many innovations. Firstly, Turing complete virtual machine is compatible with Ethereum virtual machine. Ethereum contracts can be run on RSK virtual machines. The goal of RSK is to achieve 20 seconds block time and 300 transfer transactions (TPS) per second at the first launch, which can be expanded to 1000 TPS. It has reached the level of PayPal, but it has not reached the throughput of credit card network. Compared with other platforms, the biggest advantage of RSK is the combined mining of bitcoin, and the security level is equal to that of bitcoin network. But it also needs to persuade miners to implement. RSK revealed that they will make miners profitable, and the implementation of the contract round fees will make miners profitable. It is likely that the RSK platform will be very popular and the contract execution will reach a stable level
hope to adopt it!

10. Bitcoin is simply a virtual currency. 1、 What is bitcoin: the concept of bitcoin was first put forward by Nakamoto in 2009. According to Nakamoto's ideas, open source software was designed and released, and p-2p China network was built on it. Bitcoin is a kind of digital currency in the form of p-2-p. Point to point transmission means a decentralized payment system. Unlike most currencies, bitcoin does not rely on a specific monetary institution to issue. It is generated by a large number of calculations based on a specific algorithm. Bitcoin economy uses a distributed database composed of many nodes in the whole p-2p network to confirm and record all transactions, and uses cryptography design to ensure the security of all aspects of currency circulation. The decentralized characteristics and algorithm of p-2p can ensure that it is impossible to artificially control the value of bitcoin by mass manufacturing. The design based on cryptography can make bitcoin only be transferred or paid by the real owner. This also ensures the anonymity of money ownership and circulation transactions. The biggest difference between bitcoin and other virtual currencies is that the total amount of bitcoin is very limited and it has a strong scarcity. The monetary system had no more than 10.5 million in four years, after which the total number will be permanently limited to 21 million. Bitcoin can be cashed and converted into the currency of most countries. Users can use bitcoin to buy some virtual items, such as clothes, hats, equipment, etc. in Chinanet games. As long as someone accepts it, they can also use bitcoin to buy real-life items. On February 2, 2014, Democratic Senator Joe Manchin of West Virginia sent an open letter to a number of regulatory authorities of the federal government of the United States, hoping that the authorities concerned would pay attention to the current situation of bitcoin encouraging illegal activities and disrupting the financial order, and take action as soon as possible to completely ban the electronic currency. 2、 Generation principle: starting from the essence of bitcoin, the essence of bitcoin is actually a special solution generated by a bunch of complex algorithms. A special solution is one of the infinite (in fact, bitcoin is finite) solutions that can be obtained from the equations. Every particular solution can solve the equation and is unique[ In the metaphor of RMB, bitcoin is the serial number of RMB. If you know the serial number of a note, you have the note. The process of mining is to constantly seek the special solutions of the equations through a huge amount of calculation. The equations are designed to have only 21 million special solutions, so the upper limit of bitcoin is 21 million[ To mine bitcoin, you can download special bitcoin computing tools, register various cooperative Chinese stations, fill in the registered user name and password in the computing program, and then click the operation to officially start[ 9] After completing the installation of bitcoin client, you can directly obtain a bitcoin address. When others pay, you only need to paste the address to others, and you can pay through the same client. After installing the bitcoin client, it will distribute a private key and a public key. You need to back up your wallet data containing your private key to ensure that your property is not lost. Unfortunately, if the hard disk is completely formatted, the personal bitcoin will be completely lost