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Bitshareswiki blockchain
Publish: 2021-04-29 15:57:09
1. Bitstock is a decentralized financial service platform and development platform based on blockchain technology. It is also a global trading network. A digital currency, also called bitstock (BTS), is built into the bitstock system. BTS can be traded on China's bitcoin chbtc trading platform.
2. Bitstock is an open source distributed trading system that supports valuable physical objects such as virtual currency, legal currency and precious metals. The system can mainly provide a solution of decentralized exchange. Let everyone be an exchange. The system is launched by Invictus
dividend, a part of mining reward and transaction cost, is distributed according to the proportion of the number of bitstocks owned to the number of existing bitstocks
bitasset is a kind of asset with collateral, which is supported by bitshares with a margin ratio of 1.5 to 2 times or higher. It has all replaceable, divisible and transferable assets of bitshares and can obtain dividends. All dividends are generated by collateral and paid in the form of bitshares
margin: an asset whose value exceeds the current market value of a bit asset as a support
bitusd, a kind of asset supported by bitstocks, whose value is highly related to the value of US dollar through self imposed market feedback mechanism
bit x (bitx) - a general way to name bit assets, which is based on the self imposed market feedback mechanism and is related to the realized value of the assets associated with it (such as bitgold, bitapple, etc.)
blockchain: a global synchronous, block structured and orderly trading account
output: the balance of the trading account that is limited to how it will be used under specific conditions
transaction: matching a group of unmatched output orders with another group of unmatched output orders under the condition of meeting the output matching conditions and other block chain rules.
dividend, a part of mining reward and transaction cost, is distributed according to the proportion of the number of bitstocks owned to the number of existing bitstocks
bitasset is a kind of asset with collateral, which is supported by bitshares with a margin ratio of 1.5 to 2 times or higher. It has all replaceable, divisible and transferable assets of bitshares and can obtain dividends. All dividends are generated by collateral and paid in the form of bitshares
margin: an asset whose value exceeds the current market value of a bit asset as a support
bitusd, a kind of asset supported by bitstocks, whose value is highly related to the value of US dollar through self imposed market feedback mechanism
bit x (bitx) - a general way to name bit assets, which is based on the self imposed market feedback mechanism and is related to the realized value of the assets associated with it (such as bitgold, bitapple, etc.)
blockchain: a global synchronous, block structured and orderly trading account
output: the balance of the trading account that is limited to how it will be used under specific conditions
transaction: matching a group of unmatched output orders with another group of unmatched output orders under the condition of meeting the output matching conditions and other block chain rules.
3. Blockchain technology has been applied in the field of electronic contract for a long time
as early as 2016, the third party E-contract platform law was based on the blockchain technology and implemented the legal chain deposit platform and alimail deposit business. Users can synchronously save the characteristic data (including hash value) of important e-mail to an authoritative third party organization; Once there is a dispute, users can download the full text of the e-mail by themselves, and then send it to the judicial authentication institution to compare the original e-mail feature data with the previous certificate data, and then generate the corresponding certificate issuing authentication report. According to the report, users can effectively safeguard their legitimate rights and interests.
as early as 2016, the third party E-contract platform law was based on the blockchain technology and implemented the legal chain deposit platform and alimail deposit business. Users can synchronously save the characteristic data (including hash value) of important e-mail to an authoritative third party organization; Once there is a dispute, users can download the full text of the e-mail by themselves, and then send it to the judicial authentication institution to compare the original e-mail feature data with the previous certificate data, and then generate the corresponding certificate issuing authentication report. According to the report, users can effectively safeguard their legitimate rights and interests.
4. First of all, no consensus mechanism is perfect. Each consensus mechanism has its own advantages and disadvantages. Some consensus mechanisms are created to solve some specific problems
1. Pow (proof of work) workload proof
in a word: the more you do, the more you get
it relies on machines to perform mathematical operations to obtain accounting rights. Compared with other consensus mechanisms, the resource consumption is high and the supervision is weak. At the same time, the whole network needs to participate in the operation to reach a consensus every time, so the performance efficiency is relatively low. In terms of fault tolerance, 50% of nodes in the whole network are allowed to make mistakes< Advantages:
1) the algorithm is simple and easy to implement
2) there is no need to exchange additional information between nodes to reach a consensus
3) the cost of destroying the system is huge< Disadvantages:
1) waste of energy
2) it is difficult to shorten the block confirmation time
3) the new blockchain must find a different hash algorithm, otherwise it will face bitcoin attack
4) it is easy to generate bifurcation and needs to wait for multiple confirmations
5) there is no finality, and checkpoint mechanism is needed to make up for it
2. POS proof of stake
in a word: the more you hold, the more you get
the main idea is that the difficulty of obtaining the node's accounting right is inversely proportional to the equity held by the node. Compared with pow, the resource consumption brought by mathematical operation is reced to a certain extent, and the performance has also been improved correspondingly. However, it is still a way to obtain the accounting right based on hash operation competition, which is weak in supervision. The fault tolerance of the consensus mechanism is the same as pow. It is an upgrade consensus mechanism of pow, according to the proportion and time of token of each node, it can rece the difficulty of mining in equal proportion, so as to speed up the speed of finding random numbers
advantages: to a certain extent, it can shorten the time of reaching consensus; No longer need to consume a lot of energy mining
disadvantages: mining is still needed, which does not solve the pain point of commercial application in essence; All the confirmations are just a probability expression, not a certainty. Theoretically, there may be other attack effects. For example, Ethereum's Dao attack event caused Ethereum's hard fork, and etc's appearance of this event actually proved the failure of this hard fork
the principle of dpos is the same as that of POS, except that some "deputies to the National People's Congress" are selected
bitshares community first proposed dpos mechanism
the main difference from POS is that the node elects several agents, which are verified and recorded by the agents. Its compliance, performance, resource consumption and fault tolerance are similar to POS. Similar to board voting, coin holders cast a certain number of nodes to verify and account on their behalf
the working principle of dpos is:
decentralization means that each shareholder has influence according to its shareholding ratio, and the voting result of 51% shareholders will be irreversible and binding. The challenge is to achieve 51% approval in a timely and efficient way. To achieve this goal, each shareholder can delegate his voting right to a representative. The top 100 representatives with the largest number of votes will take turns to proce blocks according to the established schele. Each delegate is assigned a time period to proce the block. All representatives will receive 10% of the transaction fee equivalent to an average block. If an average block contains 100 shares as a transaction fee, a representative will receive 1 share as a reward
network delay may make some representatives fail to broadcast their blocks in time, which will lead to the bifurcation of the blockchain. However, this is unlikely to happen because the representative of the manufacturing block can establish a direct connection with the representative of the block before and after manufacturing. This direct connection to your next representative (and perhaps the next) is to make sure you get paid
this mode can generate a new block every 30 seconds, and under normal network conditions, the possibility of blockchain bifurcation is extremely small, even if it occurs, it can be solved in a few minutes
to be a delegate:
to be a delegate, you must register your public key on the network and assign it to a 32-bit unique identifier. The identifier is then referenced by the "header" of each transaction data
authorized ballot:
each wallet has a parameter setting window, in which users can select one or more representatives and grade them. Once set, each transaction made by the user will transfer the vote from "input representative" to "output representative". In general, users will not create transactions specifically for voting purposes, because that will cost them a transaction fee. But in an emergency, some users may find it worthwhile to change their vote in a more positive way by paying fees
keep representatives honest:
each wallet will display a status indicator to let users know how their representatives are doing. If they miss too many blocks, the system will recommend users to replace them with a new representative. If any representative is found to have issued an invalid block, all standard wallets will ask for a new representative to be selected before each wallet makes more transactions
resist attack:
in resisting attack, because the top 100 representatives have the same power, and each representative has an equal vote. As a result, power cannot be concentrated on a single representative by winning more than 1% of the vote. Since there are only 100 representatives, we can imagine an attacker carrying out a denial of service attack on each representative in turn. Fortunately, the threat of this particular attack can be easily mitigated by the fact that each delegate's identity is his public key rather than his IP address. This will make it more difficult to target DDoS attacks. The potential direct connection between representatives will make it more difficult to block their proction
advantages: the number of nodes participating in verification and bookkeeping is greatly reced, which can achieve second level consensus verification
disadvantages: the whole consensus mechanism still relies on token, and many commercial applications do not need token< Pbft: practical Byzantine fault tolerance
3. Pbft: practical Byzantine fault tolerance
Introction: it provides (n-1) / 3 fault tolerance on the premise of ensuring the activity and safety
in distributed computing, different computers try to reach a consensus through message exchange; But sometimes, the coordinator / commander or member / client may exchange wrong messages e to system errors, which may affect the final system consistency
the Byzantine general problem is based on the number of wrong computers to find possible solutions, which can not find an absolute answer, but can only be used to verify the effectiveness of a mechanism
the possible solutions to Byzantine problems are:
consistency is possible when n ≥ 3F + 1. Where n is the total number of computers and F is the total number of computers with problems. After the information is exchanged among computers, each computer lists all the information obtained and takes most of the results as the solution
1) the operation of the system can be separated from the existence of currency, pbft algorithm consensus that each node is composed of business participants or regulators, and the security and stability are guaranteed by business stakeholders
2) the consensus delay is about 2-5 seconds, which basically meets the requirements of commercial real-time processing
3) consensus efficiency is high, which can meet the demand of high frequency trading volume
disadvantages:
1) when 1 / 3 or more bookkeepers stop working, the system will not be able to provide services
2) when 1 / 3 or more bookkeepers work together, and all other bookkeepers are just divided into two network islands, malicious bookkeepers can make the system bifurcate, but will leave cryptographic evidence
let's talk about two domestic ones ~
4. Dbft: delegated BFT authorization Byzantine fault tolerance algorithm
Introction: dbft mechanism adopted by ant, The bookkeeper is selected by the rights and interests, and then the bookkeeper reaches a consensus through Byzantine fault-tolerant algorithm
based on pbft, this algorithm has the following improvements:
the request response mode of C / S architecture is improved to a peer-to-peer mode suitable for P2P network
the static consensus participation node is improved to a dynamic consensus participation node that can enter and exit dynamically
for the generation of consensus participation nodes, a voting mechanism based on the proportion of holding equity is designed, and the consensus participation nodes (Accounting nodes) are determined by voting
digital certificate is introced into the blockchain to solve the authentication problem of the real identity of the accounting node in voting< Advantages:
1) professional bookkeeper
2) it can tolerate any kind of errors
3) bookkeeping is completed by multiple people, and each block is final and will not be forked
4) the reliability of the algorithm has strict mathematical proof
disadvantages:
1) when 1 / 3 or more bookkeepers stop working, the system will not be able to provide services
2) when 1 / 3 or more bookkeepers commit crimes together and all other bookkeepers are divided into two network islands, malicious bookkeepers can make the system bifurcate, but leave behind cryptographic evidence
to sum up, the core of dbft mechanism is to ensure the system's finality to the maximum extent, so that the blockchain can be applied to real financial application scenarios
5. Pool verification pool
is based on traditional distributed consistency technology and data verification mechanism
advantages: it can work without token, and realizes second level consensus verification on the basis of mature distributed consistency algorithms (pasox and raft)
disadvantages: the degree of decentralization is not as good as that of bictin; It is more suitable for multi center business model.
1. Pow (proof of work) workload proof
in a word: the more you do, the more you get
it relies on machines to perform mathematical operations to obtain accounting rights. Compared with other consensus mechanisms, the resource consumption is high and the supervision is weak. At the same time, the whole network needs to participate in the operation to reach a consensus every time, so the performance efficiency is relatively low. In terms of fault tolerance, 50% of nodes in the whole network are allowed to make mistakes< Advantages:
1) the algorithm is simple and easy to implement
2) there is no need to exchange additional information between nodes to reach a consensus
3) the cost of destroying the system is huge< Disadvantages:
1) waste of energy
2) it is difficult to shorten the block confirmation time
3) the new blockchain must find a different hash algorithm, otherwise it will face bitcoin attack
4) it is easy to generate bifurcation and needs to wait for multiple confirmations
5) there is no finality, and checkpoint mechanism is needed to make up for it
2. POS proof of stake
in a word: the more you hold, the more you get
the main idea is that the difficulty of obtaining the node's accounting right is inversely proportional to the equity held by the node. Compared with pow, the resource consumption brought by mathematical operation is reced to a certain extent, and the performance has also been improved correspondingly. However, it is still a way to obtain the accounting right based on hash operation competition, which is weak in supervision. The fault tolerance of the consensus mechanism is the same as pow. It is an upgrade consensus mechanism of pow, according to the proportion and time of token of each node, it can rece the difficulty of mining in equal proportion, so as to speed up the speed of finding random numbers
advantages: to a certain extent, it can shorten the time of reaching consensus; No longer need to consume a lot of energy mining
disadvantages: mining is still needed, which does not solve the pain point of commercial application in essence; All the confirmations are just a probability expression, not a certainty. Theoretically, there may be other attack effects. For example, Ethereum's Dao attack event caused Ethereum's hard fork, and etc's appearance of this event actually proved the failure of this hard fork
the principle of dpos is the same as that of POS, except that some "deputies to the National People's Congress" are selected
bitshares community first proposed dpos mechanism
the main difference from POS is that the node elects several agents, which are verified and recorded by the agents. Its compliance, performance, resource consumption and fault tolerance are similar to POS. Similar to board voting, coin holders cast a certain number of nodes to verify and account on their behalf
the working principle of dpos is:
decentralization means that each shareholder has influence according to its shareholding ratio, and the voting result of 51% shareholders will be irreversible and binding. The challenge is to achieve 51% approval in a timely and efficient way. To achieve this goal, each shareholder can delegate his voting right to a representative. The top 100 representatives with the largest number of votes will take turns to proce blocks according to the established schele. Each delegate is assigned a time period to proce the block. All representatives will receive 10% of the transaction fee equivalent to an average block. If an average block contains 100 shares as a transaction fee, a representative will receive 1 share as a reward
network delay may make some representatives fail to broadcast their blocks in time, which will lead to the bifurcation of the blockchain. However, this is unlikely to happen because the representative of the manufacturing block can establish a direct connection with the representative of the block before and after manufacturing. This direct connection to your next representative (and perhaps the next) is to make sure you get paid
this mode can generate a new block every 30 seconds, and under normal network conditions, the possibility of blockchain bifurcation is extremely small, even if it occurs, it can be solved in a few minutes
to be a delegate:
to be a delegate, you must register your public key on the network and assign it to a 32-bit unique identifier. The identifier is then referenced by the "header" of each transaction data
authorized ballot:
each wallet has a parameter setting window, in which users can select one or more representatives and grade them. Once set, each transaction made by the user will transfer the vote from "input representative" to "output representative". In general, users will not create transactions specifically for voting purposes, because that will cost them a transaction fee. But in an emergency, some users may find it worthwhile to change their vote in a more positive way by paying fees
keep representatives honest:
each wallet will display a status indicator to let users know how their representatives are doing. If they miss too many blocks, the system will recommend users to replace them with a new representative. If any representative is found to have issued an invalid block, all standard wallets will ask for a new representative to be selected before each wallet makes more transactions
resist attack:
in resisting attack, because the top 100 representatives have the same power, and each representative has an equal vote. As a result, power cannot be concentrated on a single representative by winning more than 1% of the vote. Since there are only 100 representatives, we can imagine an attacker carrying out a denial of service attack on each representative in turn. Fortunately, the threat of this particular attack can be easily mitigated by the fact that each delegate's identity is his public key rather than his IP address. This will make it more difficult to target DDoS attacks. The potential direct connection between representatives will make it more difficult to block their proction
advantages: the number of nodes participating in verification and bookkeeping is greatly reced, which can achieve second level consensus verification
disadvantages: the whole consensus mechanism still relies on token, and many commercial applications do not need token< Pbft: practical Byzantine fault tolerance
3. Pbft: practical Byzantine fault tolerance
Introction: it provides (n-1) / 3 fault tolerance on the premise of ensuring the activity and safety
in distributed computing, different computers try to reach a consensus through message exchange; But sometimes, the coordinator / commander or member / client may exchange wrong messages e to system errors, which may affect the final system consistency
the Byzantine general problem is based on the number of wrong computers to find possible solutions, which can not find an absolute answer, but can only be used to verify the effectiveness of a mechanism
the possible solutions to Byzantine problems are:
consistency is possible when n ≥ 3F + 1. Where n is the total number of computers and F is the total number of computers with problems. After the information is exchanged among computers, each computer lists all the information obtained and takes most of the results as the solution
1) the operation of the system can be separated from the existence of currency, pbft algorithm consensus that each node is composed of business participants or regulators, and the security and stability are guaranteed by business stakeholders
2) the consensus delay is about 2-5 seconds, which basically meets the requirements of commercial real-time processing
3) consensus efficiency is high, which can meet the demand of high frequency trading volume
disadvantages:
1) when 1 / 3 or more bookkeepers stop working, the system will not be able to provide services
2) when 1 / 3 or more bookkeepers work together, and all other bookkeepers are just divided into two network islands, malicious bookkeepers can make the system bifurcate, but will leave cryptographic evidence
let's talk about two domestic ones ~
4. Dbft: delegated BFT authorization Byzantine fault tolerance algorithm
Introction: dbft mechanism adopted by ant, The bookkeeper is selected by the rights and interests, and then the bookkeeper reaches a consensus through Byzantine fault-tolerant algorithm
based on pbft, this algorithm has the following improvements:
the request response mode of C / S architecture is improved to a peer-to-peer mode suitable for P2P network
the static consensus participation node is improved to a dynamic consensus participation node that can enter and exit dynamically
for the generation of consensus participation nodes, a voting mechanism based on the proportion of holding equity is designed, and the consensus participation nodes (Accounting nodes) are determined by voting
digital certificate is introced into the blockchain to solve the authentication problem of the real identity of the accounting node in voting< Advantages:
1) professional bookkeeper
2) it can tolerate any kind of errors
3) bookkeeping is completed by multiple people, and each block is final and will not be forked
4) the reliability of the algorithm has strict mathematical proof
disadvantages:
1) when 1 / 3 or more bookkeepers stop working, the system will not be able to provide services
2) when 1 / 3 or more bookkeepers commit crimes together and all other bookkeepers are divided into two network islands, malicious bookkeepers can make the system bifurcate, but leave behind cryptographic evidence
to sum up, the core of dbft mechanism is to ensure the system's finality to the maximum extent, so that the blockchain can be applied to real financial application scenarios
5. Pool verification pool
is based on traditional distributed consistency technology and data verification mechanism
advantages: it can work without token, and realizes second level consensus verification on the basis of mature distributed consistency algorithms (pasox and raft)
disadvantages: the degree of decentralization is not as good as that of bictin; It is more suitable for multi center business model.
5. Bitshares and mastercoin have similar design ideas, but the former prefers bit assets, while the latter prefers decentralized trading. Both have advantages and disadvantages. In my opinion, the concept of bitshares is clearer. Unfortunately, the mining mechanism is not based on bitcoin blockchain, and its legitimacy and authority are questionable; Mastercoin is based on merger mining, which is a major advantage, but the disadvantage is that the concept is too complex and the management is centralized.
6. Brief introction: bywin wallet is a blockchain wallet app developed by the superledge super gateway team. Its core technology is based on the mature bitshares blockchain, with transparent, secure features and complete transaction functions. It belongs to Guangzhou split network technology development Co., Ltd
legal representative: Li zhaohao
time of establishment: April 24, 2018
registered capital: RMB 1 million
enterprise type: limited liability company (invested or controlled by natural person)
address: Room 301, No. 16, 59th lane, xiazhong Road, Huangpu District, Guangzhou City
legal representative: Li zhaohao
time of establishment: April 24, 2018
registered capital: RMB 1 million
enterprise type: limited liability company (invested or controlled by natural person)
address: Room 301, No. 16, 59th lane, xiazhong Road, Huangpu District, Guangzhou City
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