Bitcoin life

1.

blockchain is a term in the field of information technology. In essence, it is a shared database. The data or information stored in it is characterized by "unforgeability", "trace in the whole process", "traceability", "openness and transparency" and "collective maintenance". Based on these characteristics, blockchain technology has laid a solid "trust" foundation, created a reliable "cooperation" mechanism, and has broad application prospects

on January 10, 2019, the state Internet Information Office issued the regulations on the management of blockchain information services. In October 24, 2019, ring the eighteenth collective learning of the Central Political Bureau, general secretary Xi Jinping stressed that "block chain as an important breakthrough in core technology and independent innovation", "accelerating the development of block chain technology and instrial innovation". "Blockchain" has entered the public field of vision and become the focus of social attention

on December 2, 2019, the word was selected into the top ten catchwords of "biting words" in 2019

extended data:

Application of blockchain Finance:

since 2016, the major financial giants have also carried out blockchain innovation projects to explore the possibility of applying blockchain Technology in various financial scenarios. In particular, Puyin group took the lead in creating a "blockchain +" standard digital currency

standard digital currency refers to the process of assets identification, evaluation, right confirmation and insurance completed by a third party organization, which is written into the blockchain through careful digital algorithm to form the standard corresponding relationship between assets and digital currency, which is called standard digital currency

in order to realize the great leap forward development of blockchain finance, promote the new development of China's economy, accelerate the circulation of global assets, and realize the dream of rejuvenation that has been struggling for generations, Puyin group will hold the Guiyang strategic development ceremony of Puyin blockchain finance in Guizhou on December 9, 2016

the meeting will discuss the realization of digital circulation of assets by blockchain, the financial transaction mode of blockchain, and the application of blockchain services and social public instry. This conference will mark the beginning of the application of blockchain finance and the change and development of the new financial ecology

2. Economic international technology is abbreviated as ETB, the Chinese name of which is global bitcoin alliance. In order to solve the problems of blockchain technology, the ETB project team was founded in mid May 2017 by the world's largest bitcoin miner alliance. It took half a year for ETB to innovate the existing problems on the basis of inheriting the excellent characteristics of bitcoin through the top encryption technology, The total circulation of ETB cryptocurrency is 21 million. ETB uses the current linear algorithm for mining action, but uses the bionic real estate network computing power inheritance mode to form a virtual currency real estate network. We identify each account as an ETB, and use the simulation of the real estate terminal to complete the final payment in real time

great technology makes the originally complex world simple. In the past few decades, computers, the Internet, smart phones and other high and new technologies have sprung up, making things that once were unimaginable to ordinary people, such as global communications, realistic and simple. At present, in the more complex field of global real estate investment and financing, it is also ushering in a simple change. This benefits from the rise of blockchain technology and the use of smart contracts, and is brought into reality by ETB platform

ETB hopes to link global investors and real estate projects through the investment platform based on blockchain technology and smart contract application, and intuitively present everything of the whole real estate project online, from raw materials, logistics, construction to completion, to operation and income, so as to make real estate investment transparent, understandable and predictable, Any investor can invest in real estate projects in any country, and real estate developers will be able to face investors more directly

let's recall our daily online shopping life: when we meet a certain proct, we will first pay the fee to the trading platform, such as Taobao or Jingdong, and then wait for the merchant to deliver the goods. After we confirm the receipt of the goods, the platform will transfer the fee to the merchant. In this shopping process, the reason why we can trust strange sellers is that we have no choice but to trust the trading platform, otherwise we can't trade. But based on blockchain technology, it doesn't have to be so complicated. For example, on the EIT platform, investors and real estate developers only need to trust their own judgment to interact directly. What EIT needs to do is to strictly review the identity of investors and real estate projects, and provide tokens to ensure the normal progress of platform transactions

If yesterday, the application of blockchain technology was only limited to a few financial fields such as banks, securities and funds, now, blockchain has begun to directly affect the daily life of ordinary people. The emergence of ETB real estate investment decentralized platform and the entry of blockchain into the construction instry have changed our traditional view on real estate investment and financing, Trust and cooperation have become so simple

as the R & D center of bitcoin technology, bitcoin community undertakes the mission of guiding the technological innovation of the whole instry. In the process of continuous evolution of blockchain technology, we find that there are some fatal problems in the whole instry! Blockchain technology including bitcoin! Therefore, we will start to innovate and iterate the current blockchain technology from 2018. The following contents will elaborate the problems encountered by blockchain and how EIT blockchain can solve these problems, and announce the core algorithm of life body blockchain

problem 1: blockchain can't really integrate into the consumption scene

bitcoin's long-term vision is to digitize the existing currency system and make bitcoin the digital core of real currency. However, neither bitcoin nor other blockchain technologies can really achieve this goal. At least until now, all blockchains have only one attribute, namely investment attribute, The main reasons for this problem are actually several technical problems. First, the transaction time of digital currency. The existing blockchain transaction technology can not realize real-time transaction, because at the beginning of the design, we abandoned a lot of time-efficient methods for security and decentralization. It's the biggest problem that currency delivery can't be completed in real time

problem 2: block missing

this problem is a comprehensive problem. The loss of some blocks generally occurs in several cases:

1, account tag loss

2, mining machine tag loss

3, no effective inheritance of the owner

this problem seems very small, but the impact on the blockchain is fatal, Because after continuous loss, the total number of blocks will be less and less, so the corresponding value will continue to increase. The increased investment driving force of speculators will proce a vicious circle for the healthy and long-term development of a blockchain, and make users unable to trust the whole blockchain

problem 3: decentralized technology operation

bitcoin community exists for the purpose of decentralized technology update, but we can't quickly complete the really good technology update, because most of the cold wallets and mining machines need to accept this iteration update before the technology update can be completed. Bitcoin has no problem in design and fairness, But in fact, we have ignored an important problem - delay! We found that it is almost impossible to complete a technical iteration now, because no one is willing to change. Maybe this is the biggest problem we encounter

EIT's real estate network blockchain will easily solve the above problems

solution 1: time effective consumption scenario transaction

consumption scenario is mainly divided into two levels in the design of EIT - online and offline. First of all, we change our cognition of wallet. The wallet of life is a network version without cold wallet, which is mainly to solve the timeliness of transaction

online transaction: every online application that needs to pay can dock with our wallet API to quickly complete the transaction, and the currency delivery time is 1-3 seconds

offline transaction: for offline payment, we will provide a similar API to the payment tool designers, and complete the development of offline payment tools through the rapid development package. The transaction time is also 1-3 seconds

solution 2: wallet binding mechanism

first of all, we are considering a problem - what is the user's certificate? In the era of mobile Internet, mobile phone is the most timely, accurate and safe voucher for users. Our wallet design is based on the binding of user's mobile phone. Binding mobile phone link can not only effectively solve the problem of account loss, but also effectively solve the inheritance problem

solution 3: decentralized technology

why is it called technology operation here! In fact, the technology update is the operation of the whole system. We have designed a voting mechanism in EIT. All wallets complete the voting process according to a weight system. Through the identification of the weight system, we can quickly and compulsorily complete the update of wallets and mining machine computing power

the future has come. I hope the introction of EIT can truly innovate the whole blockchain instry< br />
Cloud - referred to as " ETB, Chinese bits of Cloud, to solve the problems now block chain technology, by the world' s largest currency in mid-may 2017 miners union launched ETBproject team, lasted six months, ETBby top encryption technology on the basis of succeeding to the good features of the currency of existing problems in innovation, ETBencryption currency a circulation of 21 million pieces, ETBblock using linear algorithm for mining action now, but using bionic property network force inheritance pattern, forming a network of virtual currency property, us to identify each account as a ETB, apply every payment settlement to complete the final payment of housing endings simulation done immediately.

Technology is making great originally complex world becomes simple. No more long, only for decades, the high and new technology such as computer, Internet, smart phones, let ordinary people once unimaginable transactions, such as global communication become reality and simple. At present in the field of more complex global real estate investment and financing, is also usher in a change to the simple. Thanks to block the rise of chain technology and intelligent use of contract, and by the Eit platform into reality.

ETBhope, through technology and intelligent use of investment contract based on block chain platform, link to global investors and real estate projects, and online visual rendering the whole real estate projects, from raw materials, logistics, to the completion of construction, to operation and benefits, etc., let the real estate investment in a transparent and easy to understand, predictable, through the platform of ETB, any investors can invest in real estate projects of any country, developers will also can more directly in the face of investors.

May recall our daily online life: when we phase of a proct, all fees paid to first trading platform, such as taobao or jingdong, and then wait for the businessman shipment, after we confirm receive the goods, the platform to transfer the cost to merchants. In the shopping process, we can believe that the strange sellers, because we have no choice but can only believe that the trading platform, otherwise, cannot trade. And based on block chain technology is not so complicated, in Eit platform, for example, investors and developers only need to believe that your judgment can direct interaction, Eit need to do, just for investors to strict audit status and real estate projects, normal trading platform and provide tokens, guaranteed.

If yesterday, block chain technology application is limited to a few financial sectors such as banking, securities, fund, so now, block chain have begun to directly affect the daily life of ordinary people, the emergence of Eit dispersible in real estate investment platform, as well as the block chain into the construction instry, changed our ideas about traditional in the field of real estate investment and financing, trust and cooperation have been so easy.

As COINS COINS community technology research and development center, at the same time shoulder the mission of the guide the whole instry technology innovation, we are in the process of evolving block chain technology, found that some fatal problems the instry! Including the currency block chain technology! So we started since 2018 to now block chain technology innovation and iteration, the following will be detailed in this paper, the problems and ETB block by block chain chain how to deal with these problems, at the same time announced life block chain core algorithm.

Problem a: block chain can' t really into consumption scene!< br />
The currency' s long-term vision is dig

3. Assets are everywhere. Your factory, your farm, your house, your car, your savings in the bank and the funds, insurance, gold you buy are all your assets. Your life, your reputation, your ecation, your technology, and what you say in your circle of friends can all be your assets

generally speaking, digital assets are digitized assets. To understand digital assets, we need to understand blockchain technology first. Blockchain technology is a kind of Internet big data registration, storage and circulation technology, which is characterized by decentralization, point-to-point transmission, parallel storage, grid computing, and can not be modified
digitization is the form of registration, storage and circulation of digital assets. The feature description of digital assets is placed in the header part of the block, and the time stamp is used as proof. The body part of the block stores the circulation information of this digital asset. And all circulation data can not be tampered with and can always be checked. The price at the time of circulation can be clearly checked by the transaction subject

from the above description, we can see that digital assets belong to the category of Internet economy. Funds, equity and bank cards in the traditional economy are not digital assets. Bank cards and wechat payment can only be called e-money at most
it economy is not Internet economy. Many IT professionals claim to be internet professionals. In fact, the Internet has just begun. The essence of the Internet is the link of human mind and the Internet behind the Internet
only in the era of Internet economy can there be digital assets. Why should we enter the era of Internet economy? It is because of the current logic of traditional economic development and the law of economic development. Because we have felt that the traditional market failure, followed by capital failure, it has been difficult to expand. In the process of development, capital has experienced four forms: instrial capital, commercial capital, financial capital and social capital. Now overcapacity means that instrial capital can't play any more; Commercial capital is a brand model, and terminal marketing advertising is shrinking, which indicates that commercial capital is losing effectiveness; Financial capital refers to how much equity you own, how much loan you can get and how much capital you can mobilize. Now that the capital can't find a way out, it means that the financial capital is also invalid; Social capital is to master the social system, rules, structure, form policies, subsidies, tax rection, tax exemption and so on. Now these functions are not obvious. The government advocates the Internet. The Internet is virtual. It is related to mechanism and has nothing to do with rules. What is the difference between its economic form and tradition? The form of Internet capital is decentralized, and all resources and social wealth eventually become digital assets. No digital assets in the Internet age is equivalent to no credit in the instrial age. The future must be living in the digital age

having said that, what did we say? I just want to tell you that not everything is digital assets. Only the assets digitized by blockchain technology in the field of Internet economy and circulated in the Internet are digital assets. In the future, all assets will become digital assets, but most of the current assets are still traditional assets, not digital assets. Because digital assets have diminishing marginal cost and increasing marginal utility, they can create new value in the credit system by closed-loop circulation, so all kinds of Ponzi schemes in the name of digital assets are rampant. Next, I will continue to analyze the truth of digital assets

first of all, digital asset is a kind of utility, which is not necessarily the asset itself or all. Take a few examples to explain, and you will understand. For example, your forest farm has joined an Internet breeding project, and you have planted iron hawthorn fruit trees. This part is your private assets. If you have not joined the Internet breeding project, it is not the digital assets of this project. You only provided the part of the forest farm that you did not use the breeding function to the Internet breeding project. Therefore, only the breeding utility of the forest farm is the digital asset of the Internet breeding project. Another example is that the taxi added to our private car is not the full value of the car. It is the digital asset of our taxi platform, because our taxi platform does not require ownership, use right and control right of the car. It only uses the remaining capacity of your car, so only the part of the remaining capacity is the digital asset of our taxi platform. Only by adding all the utility of your forest farm or your vehicle to the Internet project, can all the assets of your forest farm and vehicle belong to digital assets

digital assets belong to the category of Internet economy, which has its own unique gene:
1. Digital assets are constructed as a social Internet project or pool in the form of self consistency as a flow. In this project, digital assets are expressed in three forms: geek builds ecosystem, which is expressed as intelligent assets, which provides cheap docking information flow and credit flow for the supplier and demander of the project; Maker provides service flow for Witkey in the form of digital assets; Witkey provides capital flow for maker in the form of digital assets. The instrial Internet is a pool composed of numerous and various streams
2. The price and value of digital assets must be separated. Digital assets are projects or systems built on the Internet to circulate. Because of the decentralization of the Internet, it will inevitably lead to the Internet Project breaking the original edge, procing the effect of instant outbreak and barbaric growth. Moreover, because the marginal cost is reced or even zero, the price of digital assets is reced or even zero, and the value is increased e to the increase of marginal utility, thus realizing the separation of price and value. Therefore, some experts have analyzed that the Internet era may become a zero cost era or a free era
3. Digital assets are invisible resources or stock assets. Internet economy must start from outside the boundary of traditional economy. It will not participate in the competition of traditional economy. The competition of Internet economy must be systematic. In the Internet era, digital assets are all kinds of social invisible resources and stock assets released by the Internet Ecosystem at zero cost, so as to improve the antagonistic relationship between man and nature. Through the establishment of various new mechanisms, we can cover all kinds of pain points of the traditional economy and make the society more harmonious and beautiful

therefore, digital asset is a kind of asset with thinking and gene. Its circulation and operation will play the role of social governance mechanism, and it will build a new credit system and value system for the Internet era.

4. No, maybe some people mistakenly regard bitcoin, the key application of the first generation blockchain, as the blockchain itself, but in fact, it is only an application of the blockchain. At present, blockchain has developed to the third generation
the first generation of blockchain is exchangeable, mobile and encrypted digital asset authentication
the second generation of blockchain is essentially the first generation of blockchain + smart contract
the third generation blockchain is the instry wide application of the second generation blockchain + blockchain technology
what you said is just a narrow sense of application.

5.

How to prove that you are not a piece of code
this is a very interesting question. Are you and I just a piece of code in a virtual machine
I don't know. What if we think about it from a different angle? Now, does the code created by our programmers have the characteristics of life< (2) what is bitcoin

compared with the complexity of biology, bitcoin is relatively simple. But the question of what bitcoin is is complicated
it depends on your background. Bitcoin can be financial revolution, computer technology, payment system, new central bank, liberalism revolution, pyramid selling bubble, inefficient database and digital currency.
bitcoin is totally different for different people. Although bitcoin is completely transparent and open, no one knows where bitcoin will eventually go. Like other life, bitcoin is not a unified mass. It is dynamic and consists of many different parts. These parts interact and communicate with each other. Like other creatures, bitcoin can form a whole with the environment. Just like an organism, once a key part is lost, the whole organism will die

bitcoin is a strange beast, it spans fields: one foot is information (thought and code), and the other foot is physical object (node and person)