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Value of blockchain consensus
Publish: 2021-04-22 03:49:08
1. blockchain is a decentralized distributed ledger system, which can be used to register and issue digital assets, property rights certificates, points, etc., and transfer, pay and trade in a point-to-point manner. Compared with the traditional centralized ledger system, blockchain system has the advantages of complete disclosure, tamper proof, multiple payment prevention, and does not rely on any trusted third party
e to the high network delay in peer-to-peer network, the transaction order observed by each node can not be completely consistent. Therefore, the blockchain system needs to design a mechanism to reach a consensus on the sequence of transactions that occur in the same time. This algorithm to reach consensus on the order of transactions in a time window is called consensus mechanism
-- chainknow
e to the high network delay in peer-to-peer network, the transaction order observed by each node can not be completely consistent. Therefore, the blockchain system needs to design a mechanism to reach a consensus on the sequence of transactions that occur in the same time. This algorithm to reach consensus on the order of transactions in a time window is called consensus mechanism
-- chainknow
2.
the biggest consensus of blockchain is to make money
there will be a process for the advancement of blockchain consensus. In the current flood and famine period, making money based on cognition and circle is still in consensus 1.0 stage. Fortunately, its size is not enough to affect the overall situation of the world economic structure, and the cost of supervision and policy intervention is low. In the large community of blockchain, more roles need to be involved, In particular, the government with service functions should not be absent, and the people in the community should not act like frightened birds, independent from the outside world
the bustling blockchain communities are not forests, but bird nests in a few trees at most. They chatter in order to grab food. Even if there is a third-class wind, everyone will be scattered. If you really want to dream of building a forest, you should bravely go down the tree, dig ditches and divert water
3.
Often when we talk about value, we will naturally relate to price. Indeed, price is an important data to measure value. As a blockchain technology, bitcoin's price reached 140000 RMB when it was high, and now it has dropped by about 50%, but it is still as high as 80000 RMB
At this point, you may have understood: if people do not have a common understanding of a thing, and do not give value to a thing, many things will not become "valuable". Just like our understanding of air and food, it is necessary for us to live and survive! This is the "consensus". We all believe that if we want to live, these two are indispensable! Therefore, we can conclude that the essence of value is consensus. What is the value consensus of virtual currency? Most people think that the essence of currency is not consensus, but the credibility and authority of the ruling government. This is not unreasonable. The government can only be one of the sources of value consensus, so most people think it is not comprehensive. In today's society, our consensus on the value of things comes from many ways, such as: Endorsement of authoritative institutions, corporate credit, religious belief, support of scientific theory4. It is also a concept in blockchain, which refers to the algorithm for blockchain things to reach distributed consensus. They speak very clearly on the app of lianpai community and have a thorough understanding of blockchain. Although their one course is not long, they can understand it after listening to it. Very good!
5. POW: proof of work (POW), a simple explanation is a proof to confirm that you have done a certain amount of work. Because the whole process of monitoring work is usually extremely inefficient, and it is a very efficient way to prove that the corresponding workload has been completed through the certification of the work results. For example, in real life, graation certificate, driver's license and so on, are obtained by means of test results. That is to say, how much money you get depends on your effective contribution to mining. Simply understand, the better your computer performance, the more revenue you will get. This is to allocate money according to your workload. Most digital currencies, such as bitcoin, lightcoin, etc., are virtual currencies based on POW mode (the higher the computing power, the longer the mining time, the more coins you get)
pos: POS is a consensus algorithm in the public chain, which can be used as a replacement of pow algorithm. POW is a mechanism to ensure the security of bitcoin, Ethereum and many other blockchains, but POW algorithm is criticized for destroying the environment and wasting power in the process of mining. POS tries to solve these problems by replacing the concept of mining with a different mechanism
POS mechanism can be described as a kind of virtual mining. POS mainly relies on the token in the blockchain itself. In pow, a user may buy a computer for 1000 dollars, join the network to mine and proce new blocks, and get a reward. In POS, users can buy tokens of equal value with us $1000 and put them into the POS mechanism as deposit, so that users have the opportunity to generate new blocks and get rewards. In pow, if users spend $2000 on hardware equipment, they will of course get twice the computing power to mine, thus getting twice the reward. Similarly, if you invest twice as much token as the deposit in the POS mechanism, you have twice as much chance to get the right to generate new blocks.
pos: POS is a consensus algorithm in the public chain, which can be used as a replacement of pow algorithm. POW is a mechanism to ensure the security of bitcoin, Ethereum and many other blockchains, but POW algorithm is criticized for destroying the environment and wasting power in the process of mining. POS tries to solve these problems by replacing the concept of mining with a different mechanism
POS mechanism can be described as a kind of virtual mining. POS mainly relies on the token in the blockchain itself. In pow, a user may buy a computer for 1000 dollars, join the network to mine and proce new blocks, and get a reward. In POS, users can buy tokens of equal value with us $1000 and put them into the POS mechanism as deposit, so that users have the opportunity to generate new blocks and get rewards. In pow, if users spend $2000 on hardware equipment, they will of course get twice the computing power to mine, thus getting twice the reward. Similarly, if you invest twice as much token as the deposit in the POS mechanism, you have twice as much chance to get the right to generate new blocks.
6. In bitcoin and other blockchain currencies, there is also the problem of how to reach a consensus. In other words, the core issue of bitcoin or other blockchain currencies is how to reach a consensus in a decentralized environment
blockchain is not only the core technology behind bitcoin, but also the infrastructure supporting bitcoin. Therefore, when talking about the consensus of blockchain, we must talk about the consensus of bitcoin
the core breakthrough of bitcoin is to reach a consensus on transaction events in the case of decentralization, that is, to reach an agreement on the effectiveness of a transaction without a central organization<
bitcoin's method to achieve this consensus mainly includes two parts:
incentive; That is, each block generates a certain amount of new bitcoin to motivate participants
introce external resources to ensure safety; That is, to ensure the security of consensus through a large number of external calculations, that is, proof of power
this is also the method adopted by almost all POW currencies. For example, dent, Wright coin, sand coin, dog coin and so on.
blockchain is not only the core technology behind bitcoin, but also the infrastructure supporting bitcoin. Therefore, when talking about the consensus of blockchain, we must talk about the consensus of bitcoin
the core breakthrough of bitcoin is to reach a consensus on transaction events in the case of decentralization, that is, to reach an agreement on the effectiveness of a transaction without a central organization<
bitcoin's method to achieve this consensus mainly includes two parts:
incentive; That is, each block generates a certain amount of new bitcoin to motivate participants
introce external resources to ensure safety; That is, to ensure the security of consensus through a large number of external calculations, that is, proof of power
this is also the method adopted by almost all POW currencies. For example, dent, Wright coin, sand coin, dog coin and so on.
7. Jinwowo uses a vivid metaphor to illustrate: if consensus is the basis of blockchain, then consensus mechanism is the soul of blockchain
when explaining what a blockchain is, we can use a simple and clear decentralized distributed ledger to summarize it. However, in this ledger, how to sort the things generated in almost the same time is related to the consensus mechanism of the blockchain network
therefore, jinwowo network technology believes that consensus mechanism is an algorithm to reach consensus on the sequence of things in a period of time.
when explaining what a blockchain is, we can use a simple and clear decentralized distributed ledger to summarize it. However, in this ledger, how to sort the things generated in almost the same time is related to the consensus mechanism of the blockchain network
therefore, jinwowo network technology believes that consensus mechanism is an algorithm to reach consensus on the sequence of things in a period of time.
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