What is the consensus mechanism of BCH and BTC

2.

The concept of bitcoin was first proposed by Nakamoto on November 1, 2008, and was officially born on January 3, 2009. According to the idea of Nakamoto, the open source software is designed and released, and the P2P network on it is constructed. Bitcoin is a virtual encrypted digital currency in the form of P2P. Point to point transmission means a decentralized payment system

bitcoin (BTC) is the most popular digital currency in the world. The spread occurred on August 1, 2017. In a "hard fork" event, a new digital currency called bitcoin cash (BCH) was born

e to version switching, bitcoin blockchain is bifurcated into two independent blockchains. Everyone who owns bitcoin before the fork is entitled to the same amount of "bitcoin cash" tokens, similar to a dividend in a stock

bitcoin cash (BCH) is a new version of bitcoin with different configurations launched by a small number of bitcoin developers. It is a new type of blockchain asset. On August 1, 2017, the mining of bitcoin cash will begin, and each bitcoin investor will have the same amount of bitcoin cash (BCH) in his account

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currency features

Decentralization: bitcoin is the first distributed virtual currency, and the whole network is composed of users without a central bank. Decentralization is the guarantee of bitcoin's security and freedom

Global Circulation: bitcoin can be managed on any computer connected to the Internet. No matter where you are, anyone can dig, buy, sell or collect bitcoin

exclusive ownership: private key is required to manipulate bitcoin, which can be stored in any storage medium in isolation. No one can get it except the user himself

low transaction cost: bitcoin can be remitted free of charge, but a transaction fee of about 1 bitfen will be charged for each transaction to ensure faster transaction execution

no hidden cost: as a means of payment from a to B, bitcoin has no cumbersome quota and proceres. If you know the other party's bitcoin address, you can pay

cross platform Mining: users can explore the computing power of different hardware on many platforms

reference source:

network bitcoin

3. How to reach a consensus on decentralized networks
in the blockchain system, there is no centralized bookkeeping institution like a bank, so it is very important to ensure the consistency of each transaction on all bookkeeping nodes, that is, to make the whole network reach a consensus. The consensus mechanism solves this problem
at present, the main consensus mechanisms are workload proof mechanism POW and equity proof mechanism POS
POW determines your chances of getting bookkeeping rights by evaluating your workload. The greater the workload, the more likely you will get this bookkeeping opportunity
POS determines your chances of getting bookkeeping rights by evaluating the number and ration of tokens you hold. This is similar to the stock dividend system, holding a relatively large number of shares can get more dividends
the principle of dpos is similar to that of POS, except that some "deputies to the National People's Congress" are selected. The main difference from POS is that the node elects several agents, which are verified and recorded by the agents
with the development of technology, more advanced consensus mechanisms may emerge in the future.

4. No, bitcoin cash (BCH) is a new version of bitcoin with different configurations launched by a small number of bitcoin developers. It is a new type of blockchain asset. On August 1, 2017, the mining of bitcoin cash will begin, and each bitcoin investor will have the same amount of bitcoin cash (BCH) in his account
bchc, launched by bitcherry, is a token within the Distributed E-Commerce ecosystem.

5. Jinwowo network analysis: consensus mechanism is how to reach a consensus among all accounting nodes to determine the validity of a record, which is not only a means of identification, but also a means of preventing tampering.

6. BFC Lefu digital currency can be purchased on the digital currency platform supporting its transactions
BFC (bright future coin) is a new generation of cryptocurrency. It is based on the Internet open source scrypt algorithm technology, POW workload proof + POS equity proof consensus mechanism, and adopts the point-to-point network development block chain and decentralized distributed cryptocurrency, which can not be created and copied by anyone
however, this is just a slogan. In fact, it still sells cloud mining machines, and the source code is not disclosed. Mining may be just a cover. The real purpose is to sell the miner
this kind of currency is different from bitcoin, Ruitai coin, Laite coin and Weimeng coin in that the basic information is open and transparent. It has a very big investment risk.

7. It's mainly about interests. There are mainly the following types of people who oppose BCH:
1. They hype themselves and pave the way for their bifurcating bitcoin. For example, Liao Xiang, who once strongly opposed big blocks, paid big money, and they all bifurcated bitcoin
2. Misled by the core development team, the melon eaters regard the miners as a group of criminals
3. The core development group's opposition to BCH is not only a divergence of development roadmap, but also a dispute of interests. The lightning network promoted by the core development group can make the gold owners behind it profit through the lightning network.

8.

consensus mechanism , in short, is an algorithm to reach a consensus on the sequence of things in a period of time

on the blockchain, the consensus mechanism is like the law of a country, maintaining the normal operation of the blockchain world. On the blockchain, everyone has an account book that records all transactions on the chain. When a new transaction is generated on the chain, everyone receives this information at a different time. Some people who want to do bad things may publish some wrong information at this time. At this time, one person needs to verify the information received by all people, Finally, publish the most correct information

At present, there are three common consensus mechanisms:

1. Proof of work - Pow is one of the most well-known consensus mechanisms. As a literal explanation, POW means that the more work you do, the more profit you get. The job here is to guess the number, who can guess the only number the fastest, who can be the information publicist

Proof of stake POS is also a kind of consensus proof, which is similar to stock certificate and voting system, so it is also called "stock certificate algorithm". The final information is publicized by the person with the most token

3. Practical Byzantine fault tolerance (pbft) is also a common consensus proof. It's different from the previous two. Pbft is based on calculation, and there is no token reward. All the people in the chain participate in the voting, and when less than (n-1) / 3 nodes oppose, they will get the right to publicize the information