Limited scalability of blockchain

-- for the above data sources and analysis, please refer to analysis report on market outlook and investment strategic planning of China's blockchain instry of foresight Instry Research Institute

the research process of instry technology is constantly advancing

in recent years, the research process of global blockchain technology has accelerated, and the number of instry patent applications has increased rapidly. According to sopat statistics, from 2014 to 2018, the number of global blockchain patents continued to rise, and by 2018, the number of global blockchain patent applications had reached 2966. Among them, the number of patents in China's blockchain in 2018 accounted for 33.33% of the total number of patents in 2014, and increased to 82.1% in 2018

however, despite the continuous development and innovation of global blockchain technology in recent years, there is no universal evaluation standard and system to specify the technical performance, efficiency, scalability, security and other issues of blockchain. On the whole, blockchain technology needs further breakthrough

China's blockchain technology tends to serve applications

in terms of technology, the core of China's blockchain technology is to serve physical applications, while the US blockchain technology is still solving the potential problems of blockchain, which leads to the domestic focus on alliance chain applications, We hope to optimize the blockchain technology to meet the requirements of high concurrency applications; Foreign countries focus on the application of public chain, and carry out the optimization and innovation of core technology according to the characteristics of public chain. In terms of application, domestic blockchain focuses on the application of service instry and tends to be "non currency blockchain"; Most of the U.S. is a public chain, which tends to the circulation of digital assets

Recently, many friends have come to ask questions about blockchain, such as the specific advantages of blockchain, why to invest in blockchain, and what benefits can it bring? Can't you invest in real estate and wait for the appreciation; Can't you invest in a mature market like stocks and bonds? Why invest in the emerging blockchain? Does blockchain have any investment value? And so on a series of questions, I have made the following summary, basically summarized the answers to most of the related questions:

it can be summarized in the following four aspects:

1. Blockchain has a good market prospect; 2; As an emerging technology, blockchain is recognized by many professionals including investors. It is estimated that the market value of blockchain will be about US $60 billion in 2020 and US $20 million in the global market in 2024. The considerable market prospect of blockchain is obvious

2. The cost of block chain is less; Compared with the centralized mode of relying on third-party intermediaries such as credit card payment and stock trading, the decentralized distributed structure of blockchain saves investors high handling fees and transaction costs, saves investment costs and improves transaction processing efficiency

3. Block chain is more secure and stable; The traditional centralized mode often faces serious credit crisis, but because each transaction in the blockchain is tracked and permanently recorded by the distributed public account book, the phenomenon of forgery is greatly reced, and the losses caused by the credit problems of the third party are avoided, providing security for investors' transactions

4. The programming attribute of block chain is more standard; Traditional market investors often affect their earnings because of the confusion of market levels, and the programmability of blockchain makes the market level clear, which is an innovative technology that can change people's lives

I hope it can help you to solve related problems. Please feel free to ask or discuss more details or any questions

Blockchain is an important concept of bitcoin. In essence, it is a decentralized database, as well as the underlying technology of bitcoin< br />

Because the blockchain technology is not mature at this stage, and the infrastructure is not perfect, many applications are limited, and the overall application is still in a very early stage

utility token is a utility token that acts as a right to use a specific service

examples of terminology usage

utility tokens are premised on the use of services

detailed description

you can settle the price of goods and meals instead of cash, and you can access it by having cloud storage. For utility tokens, there is no need to audit the classification of the report

public chain is a highly "public" blockchain, anyone can freely participate in the network

example of terminology usage

as an infrastructure project for mediating data exchange between blockchains, a mechanism for data exchange on public blockchains will be established

detailed description

in the blockchain used to record the transaction information of encrypted assets (virtual currency), this is a mechanism used by an unspecified number of participants to establish transaction information by consensus without a specific management entity. It is very safe to prevent forgery of transaction information, but it requires a lot of calculation, so its disadvantage is that it takes a long time to complete the transaction when there are many participants

scalability refers to the scalability of delayed transaction processing

examples of terminology usage

soaring gasoline prices highlight Ethereum's scalability issues

detailed description

e to the nature of blockchain and the limited amount of transaction data that can be written in a block, the processing is delayed. Remittances can take a long time, which can lead to higher transaction costs. Bitcoin is the first cryptocurrency born, which has been considered as a special problem, but efforts to solve this problem have been implemented, such as using other technologies such as lightning network and developing new blockchain

gas cost is the (Network) transaction cost on Ethereum blockchain

examples of terminology usage

this week, on the Ethereum blockchain, although there are a small amount of remittances, there are still many cases of high natural gas bills being paid

detailed description

the gas fee of user specified amount is the secondary reward. Eth, the virtual currency, is used for payment. Since the transaction with higher cost should be dealt with first, the gas cost may increase with the increase of transaction number

considering the provision of liquidity (currency pair), liquidity mining is to grant governance token in addition to interest, so as to attract those who implement the rate of return balance

examples of terminology usage