BTC side chain
There are two relations between bitcash and bitcoin: bitcash is the bifurcated and competitive currency of bitcoin{ RRRRR}
Second, competitive currency. As the name suggests, they are two competing currencies. It is just like the competition of two kinds of homogeneous goods in the market, competing for market share. In the virtual digital currency market, the market share is so large that more people hold one kind of currency, the number of people holding another kind of currency will be relatively reced, forming a competitive relationship between you and me
in these two relationships, competitive currency is easier to understand, while forked currency is more difficult because it is a technical problem
is the relationship between the two currencies clear now
it is reported that Microsoft has accepted bitcoin cash deposit and zero confirmation instant payment, and there is no transfer fee for bitcoin cash recharge, which is different from the 1.2% transfer fee for bitcoin recharge. Another interesting phenomenon is that Microsoft has put BTC and BCH payment options on the "bitcoin" option on its website. Companies such as tor browser, overstock.com and eff also gave the same answer. The outside world holds a neutral attitude towards who is the real bitcoin. Let users choose for themselves and they will give the right answer
"a hundred legged insects, die but not stiff" is the most appropriate word to use in bitcoin. Bitcoin has been preconceived and has great influence in the society. In the short term, it is a mountain that is difficult to surpass. However, users will give the best choice according to their experience. As time goes on, BCH has low service charge, low cost and low cost The advantages of convenient payment will graally be recognized. At that time, Nokia used to be the dominant mobile market. At the peak of 2010, its market share was as high as 35%. When it was prosperous, it would decline. Because of its complacency, Nokia lost touch with the smartphone market and was acquired by Microsoft only three years later. It will take time to see whether bitcoin will follow Nokia's footsteps, but whether bitcoin cash can become a rising star is self-evident.
as you can understand it, it's like the stock of these technology service providers. As these technologies become more and more widely used, these virtual coins will become more and more valuable
bitcoin, which appeared in 2009, is the first kind of virtual currency in the world. It is also the first time that it has applied the blockchain technology which is popular all over the world
after bitcoin, there are many imitators in the market. They either improved on the basis of bitcoin, or put forward more grand technical ideas than bitcoin. Virtual currency, which is common in other markets and considered as "regular army" by instry insiders, is collectively referred to as competitive currency. Together with bitcoin, it forms the whole digital currency market, with a total market value of nearly 100 billion US dollars
there are thousands of virtual currencies in the market, most of which are risky; In addition, there are many MLM coins that are simply for the purpose of deceiving people< In order to help you avoid being cheated, the following is a brief introction to the main "regular army":
1. Bitcoin (BTC)
bitcoin is the first virtual currency in the world, with a total of 21 million. At present, more than 16 million bitcoins have been "g up", with a total market value of about US $45 billion, equivalent to half of the total market value of all virtual coins. It is well deserved to be the number one in the coin circle
bitcoin has been accepted as payment currency by hundreds of thousands of businesses around the world; In addition, bitcoin has also become a common money raising currency in various blockchain technology startups. Therefore, with the increasing demand for bitcoin, the value of bitcoin is likely to grow in the long run
2. Eth is regarded as "bitcoin version 2.0" and is the most likely competitor to surpass the market value of bitcoin. Some time ago, the market value of bitcoin was close to that of bitcoin. However, e to the price rection in the recent month, the market value of bitcoin is only about half of that of bitcoin
Ethernet coin was born in the summer of 2014. It is issued on the Ethereum blockchain, which is different from bitcoin. Ethereum blockchain is a decentralized application platform, which solves the problems of bitcoin's technical limitation in currency application and insufficient function expansion, so it has great technical advantages
3. Bitcash (BCH)
BCH inherits a small part of bitcoin's legacy, the name of bitcoin's cash is also good, and the image logo also inherits a part of bitcoin. The ecology of BCH is also good
BCH pursues to be a world currency and an underlying platform for chain application. BCH is actively deploying the main chain expansion and developing the two-tier network to realize the ideal
the whole ecology should be made efforts from two aspects. The first direction is the expansion of the main chain, payment experience and function improvement. Capacity expansion is the guarantee to keep the certainty of monetary transaction fees very low. Improving the payment experience, including popularizing zero confirmation, pre consensus, and possibly shortening block time, are all evolving towards a better payment experience. The main chain function is perfect, including Op_ Return expansion, token issuance, new opcode addition
with the expansion of BCH main chain function, BCH based applications can be developed. The most famous are the decentralized microblog like memo, the paid download seed application like joystream, and the decentralized encrypted communication like Keyport
the second direction is to develop layer-2 network. Build a new blockchain based on BCH network, such as wormhole and kenoken, which are similar to Ethereum network based on BCH. BCH undertakes more complex block chain functions, such as notification contract, through two-layer network. The competition direction of BCH layer 2 network is to compete with the side chain of BTC
4. Lightning bitcoin (LBTC)
bitcoin has been developing for 10 years. In this decade, bitcoin has experienced three important splits, and now it has become four kinds of currencies. The first is BTC, which has inherited most of bitcoin's heritage; The second is BCH; The third is BSV and the fourth is LBTC
LBTC was born to break the power monopoly of big miner and bitcoin core bitcoin, introce more new features and functions for bitcoin, and greatly improve its performance. Lightning bitcoin (LBTC) is a peer-to-peer e-cash system, which is an innovative experiment based on bitcoin. It uses the dpos consensus mechanism based on utxo to separate the voting right and accounting right, so that the token will not be kidnapped by any party. It is a global value Internet transmission protocol with high speed, low handling charge and high scalability. Due to the adoption of dpos consensus mechanism, users can participate without professional mining machines, achieving real decentralization
the above four are the most mainstream bifurcated versions of bitcoin protocol. They are also investment procts that can realize your desire of soaring wealth. Senior managers can play with them, but the premise is that you need to be prepared for huge losses - because they are very volatile
for Xiao, I would like to say: Although virtual currency is a secret weapon for ordinary people to counter attack the sudden wealth, it's very difficult for you to make a lot of money from it
in addition, at present, the price of virtual bitcoin is at a high level, and it can not be ruled out that it will mainly be sideways in 2019. At this time, I think it is a good choice to some other mainstream bifurcation currencies, such as BCH, BSV and LBTC.
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 and equipment in online games. As long as someone accepts it, they can also use bitcoin to buy real-life items
bitcoin is a kind of P2P digital currency. Point to point transmission means a decentralized payment system
1. Bitcoin (bitcoin) is a kind of network virtual currency, which can buy real-life goods. It is characterized by decentralization, anonymity, and can only be used in the digital world. It does not belong to any country or financial institution, and is not subject to geographical restrictions. It can be exchanged anywhere in the world. Therefore, it is used as a money laundering tool by some criminals
2. On January 7, 2014, Taobao announced that it would ban the sale of Internet virtual currencies such as bitcoin and lightcoin from January 14. On February 26, 2014, Democratic Senator Joe Manchin of West Virginia issued an open letter to a number of regulatory authorities of the federal government of the United States, hoping that relevant institutions would pay attention to the status quo of bitcoin encouraging illegal activities and disrupting the financial order, and demanded that actions be taken as soon as possible to completely ban the electronic currency
3. On May 12, 2017, a global outbreak of bitcoin virus madly attacked public and commercial systems! Nearly 74 countries in the world have been seriously attacked
4. From August 1, 2017, global bitcoin trading platform will suspend recharge and withdrawal services. Bitcoin China digital asset trading platform will stop new user registration on September 14, and all trading businesses will be stopped on September 30
the concept of bitcoin was first proposed by Nakamoto in 2009. According to Nakamoto's ideas, open source software was designed and released, and P2P network was built on it. Bitcoin is a kind of P2P digital currency. Point to point transmission means a decentralized payment system
Unlike most currencies, bitcoin does not rely on specific currency institutions to issue. It is generated by a large number of calculations based on specific algorithms. Bitcoin economy uses a distributed database composed of many nodes in the whole P2P network to confirm and record all transactions, And the use of cryptography design to ensure the security of all aspects of money circulationthe decentralized feature and algorithm of P2P 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 used to have no more than 10.5 million in four years, after which the total number will be permanently limited to 21 million
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
1. Virtual currency in China is mainly a tool of speculation, and the actual application scenarios are less, but there are also some application-oriented digital currencies, such as Fuyuan coin, a business integral system in the jewelry instry, but the impact is small
2. Some criminals use bitcoin or virtual currency as a pretext for pyramid selling fraud. These pyramid selling activities are increasingly rampant, which seriously affects the development of bitcoin and other virtual currencies, and the government fails to crack down
3. China adopts a cold attitude towards virtual currency, which limits the development of bitcoin, denies its monetary attribute, and forbids financial institutions to carry out bitcoin related business
4. Virtual currency has the risk of money laundering, and anonymous transaction is easy to be used by criminals
5. The security of digital currency needs to be studied. Previously, there were many cases of platform theft in China, such as bitcoin piggy bank, biter and so on.
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
each data block is set with two flags, one is the creation time, the other is the password proof of the creator. Each added data block will have a time stamp. You can compare the hash value in the blockchain with the hash value of the file in hand to prove that a file exists at that time point. Because bitcoin transaction has strong encryption protection, it can replace the common user name plus password authentication mode. In the system, a bitcoin address can be regarded as a user name, while the private key can be regarded as a password. Anyone who concts bitcoin transactions with you needs to verify whether you have a private key to decrypt
blockchain, the core technology of bitcoin, can shine in many fields, and it also solves the problem of network audit. Metadata can't be deleted once it's put into blockchain. With this important feature, developers have created a new version of twitter, twister, and namecoin, a decentralized domain name registration website Everything we have, everything we do, is managed by a lot of data records, "says Kirby of Factom." banks are a database, so are insurance companies, and the economy is basically a bunch of digital records. You need to make full use of the concept of global accounting general ledger. It will be very exciting if you can put the global data together in this way. " These are just cases where blockchain can be used to change the network storage mode
but storing data is just the tip of the iceberg of blockchain. After all, bitcoin network is not just a trading platform. Behind it, there is a global team of miners, forming a powerful distributed virtual machine system. Their role in the network is obvious. When miners receive requests for transactions, they verify each request. This operation can be very simple, first verify your identity, check whether you have enough bitcoin, and then choose to accept or reject the transaction
what else can miners be asked to do
for example, "don't verify this deal until I die." Or "when you verify the transaction, please adjust the transaction value. The real-time price of Tesla motor's stock is the amount I want to trade." In the first example, the applicant can guarantee the authenticity of the will without relying entirely on the lawyer. The second example shows how to create a distributed stock market. All this shows that the calculations made by the miners can be used for more purposes
bitcoin's existing protocols advocate the use of minimalist programming languages to limit miners to any fancy operations. But developers are constantly discussing whether they can add some new features to the protocol. If bitcoin is not only involved in static computing, it is necessary to add some complexity. In recognition of this, developers added the new function of multiple transactions to it in 2012. This feature allows users to distribute ownership of a bitcoin address to others and set multiple private keys for them. Since then, many companies have begun to offer hosting services based on multiple transactions< However, if we want to change the open source protocol of bitcoin, it will take time and running in to meet the requirements of all parties. Some people say that this running in process will hinder the development of bitcoin There are now five camps: developers, miners, merchants, users and service providers (Internet wallets). It will take the five parties to reach a consensus to achieve major changes in the agreement. " Andreas antonopoulos, author of bitcoin user's guide, said, "it's hard to make any radical changes now. The possibility of great changes has graally diminished."
but developers are still trying to optimize blockchain. In order to alleviate the problem that programmers add blockchain too long, there is a possible solution. Adam back initially proposed to use hash function as the security of bitcoin operation. Now he began to advocate the use of parallel blockchain, referred to as the side chain. This function can open up a "cubicle" for the bitcoin ecosystem. First, it needs to freeze the bitcoin on the main block chain so that it cannot be paid out. Then, based on certain principles, it transfers their value to another small blockchain parallel to the main chain, and defines that the process is reversible. With the introction of the concept of side chain, developers are free to build a variety of trading platforms. Hope to adopt