EU on blockchain

1. blockchain has developed in five stages
1. Germination stage: the real germination stage of blockchain was from 2007 to 2009. In 2008, a Japanese American with the pseudonym of Nakamoto first expounded a new fantasy report on electronic money in the form of a synonym on the cryptography discussion group, and bitcoin came out. As early as 2007, Nakamoto began to explore a series of new technologies to create a new currency. On October 31, 2008, bitcoin white paper was released, and on January 3, 2009, bitcoin system officially began to operate
the main technologies supporting bitcoin system include hash function, distributed ledger, blockchain and asymmetric encryption; It can be seen that these technologies build the initial version of the blockchain, and it can also be said that the blockchain is the underlying technology of bitcoin. During the three years from 2007 to 2009, bitcoin was an experimental stage in which a very small number of people participated, and the real commercial activities had not really started
2. "Geek" niche stage: here, "geek" refers to people who are crazy about Internet technology and take technological innovation as fashion and life. On February 6, 2010, the first exchange of bitcoin appeared. On May 22 of the same year, someone bought two hamburgers with 10000 bitcoins. On July 17 of the same year, the exchange Mt. GOx was established, marking the official inflow of bitcoin into the market. Nevertheless, the only people who can really understand and enter the market to participate in bitcoin trading are geeks who are keen on Internet technology. They discuss bitcoin technology on the forum, mine for bitcoin on their own computers, and then buy and sell bitcoin on Mt. GOx. Now these geeks have become billionaires
3. Market brewing stage: the price of bitcoin was $13 at the beginning of 2013, but on March 18 of the same year, the government of Cyprus closed the bank and stock market e to the financial crisis, which made the price of bitcoin soar, and the highest price rose to $266 in April. On August 20 of the same year, the German government confirmed the currency status of bitcoin. On October 14, China network announced the opening of bitcoin payment channel. In November, the US Senate hearing also confirmed the legitimacy of bitcoin. On November 19, the price of bitcoin rose to US $1242, forming a new high. Nevertheless, the foundation for blockchain to enter the mainstream social economy is not yet available, and the soaring price of bitcoin is only e to over optimistic expectations. The containment of China's banking system, the collapse of Mt. GOx and other events made the price of bitcoin continue to fall. At the beginning of 2015, the price of bitcoin has dropped below $200. From 2013 to the beginning of 2015, the public began to understand bitcoin and blockchain
4. The mainstream period of blockchain: on June 23, 2016, the United Kingdom left the European Union, the fifth nuclear test of North Korea in September, Trump's election in November and other events, the uncertainty of the world's mainstream economy led to the recovery of bitcoin with the function of risk aversion. The market demand was large, and the increase of trading volume made the price of bitcoin soar from $400 in 2016 to $20000 in 2017, The wealth effect of bitcoin and the transaction overflow caused by network congestion of bitcoin have led to the outbreak of other series of virtual currencies, as well as a variety of blockchain applications, resulting in the emergence of a large number of blockchain assets that are 100 times, even 1000 times and 10000 times, which has aroused the crazy pursuit of the world, Subsequently, the Chicago Mercantile Exchange launched bitcoin futures trading, marking that bitcoin has officially entered the mainstream investment proct series, and bitcoin and blockchain have entered the global attention
5. Instry landing stage: after the market frenzy in 2017, the virtual currency and blockchain have been adjusted in terms of market, supervision, cognition, etc. in 2018, returning to rationality. In 2017, many blockchain projects that follow the blockchain technology will graally die out with the cooling of the market, and the projects with real blockchain applications will be initially implemented. 2018 is not only the first year of the blockchain, but also a gold rush period for the blockchain. After the waves wash away the sand, what remains is relatively good gold
from the perspective of the history of blockchain development, blockchain technology is not yet mature and is currently in the growth period. The specific practical application of blockchain is only used in the financial field. It still needs a long way to go to apply blockchain from other instries. However, we should grasp the trend of blockchain and actively learn from the new field of blockchain.

2. Globally, governments have different attitudes towards blockchain and blockchain assets, but on the whole, they are still in the exploration period
European and American countries are actively monitoring. Germany is the first country to recognize bitcoin and other digital assets as private property. The US CFTC (US Commodity Futures Commission) has identified bitcoin as a commodity. The state of New York has issued three bitlicenses
the situation in Asia is different. Japan actively supports it. In April this year, Japan implemented the payment services act, officially recognizing bitcoin as a legal payment method
South Korea is actively monitoring. In July, South Korea's "bitcoin Regulation Act" came out, setting a threshold of 500 million won for investors
China has strict supervision. In September, the people's Bank of China and other seven ministries and commissions jointly issued the "notice on preventing the financing risk of token issuance", which stipulates that in China, trading platforms shall not engage in the exchange business between legal tender and "virtual currency".

3. At present, there are four main types of consensus mechanisms: pow, POS, dpos, pool
1. POW workload proof, which is familiar with mining, calculates a random number that meets the rules through and or operation, that is, obtains the bookkeeping right, sends out the data that needs to be recorded in this round, and stores it together with other nodes in the whole network after verification
advantages: complete decentralization, free access of nodes
disadvantages: bitcoin has attracted most of the computing power in the world, and other blockchain applications using POW consensus mechanism are difficult to obtain the same computing power to ensure their own security; Mining causes a lot of waste of resources; The period of reaching consensus is long, which is not suitable for commercial application.

2. Proof of rights and interests of POS, a mechanism of upgrading consensus of pow; According to the token proportion and time 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 shortens the time to reach a consensus
disadvantages: mining is still needed, which does not solve the pain point of commercial application in essence

3. Dpos share authorization certification mechanism is similar to the voting of the board of directors, in which the coin holders cast a certain number of nodes to verify and account on their behalf
advantages: greatly rece the number of participating verification and accounting nodes, which can achieve second level consensus verification
disadvantages: the whole consensus mechanism still depends on token, and many commercial applications do not need token to exist

4. Pool verification pool, which is based on traditional distributed consistency technology and data verification mechanism; It is a consensus mechanism widely used in the instry chain at present.
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; The multi center business model is more suitable for multi-party participation

it has great advantages in using consensus mechanism to ensure data consistency (the consensus mechanism is first proposed by ripple, and the network transaction synchronization mechanism with data correctness priority. In the consensus network, no matter how the software code changes, if you can't reach a consensus, you can't enter the network, let alone fork)
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PS: a little black, although the consensus mechanism can absolutely ensure that there will be no hard bifurcation at any time. However, the disadvantage of this mechanism is obvious, that is, it is much longer than the current bitcoin network to reach a consensus with other nodes. In extreme cases, the consequences of disconnection in ripple consensus mechanism network are also very terrible

it is possible that one day after the power failure in your home, the whole system will no longer be able to reach a consensus with other rippled nodes (in fact, the consensus mechanism requires more than 80% of the nodes to acknowledge your data before your submission will be accepted by other nodes, otherwise it will be rejected by exclusive nodes), Even you can only empty all your 500 GB data and resynchronize to connect to other ripple nodes

so at present, the existing rippled end is not suitable for civil use (if it is commercial, the impact is relatively small. For example, RL's own rippled node is hosted in Amazon cloud data center. If it has no response for a long time, it can make high claims, and there is almost no break in that place except for large disasters). This is one of the aspects RL has always wanted to improve.

4. All departments in the United States actively strive to lay out blockchains. The Department of justice held a digital currency summit. The stock exchange has approved the company's stock trading on the blockchain. The commodity futures trading commission of the United States regulates the blockchain and treats bitcoin as a bulk commodity; In addition, the UK released distributed ledger Technology: beyond blockchain; Russia put forward "block chain technology development roadmap"; Australian central bank wants to issue data currency; Japan held a special research conference on blockchain; The Central Bank of Korea issued the status quo and Enlightenment of distributed ledger technology and digital currency< On January 20, 2016, the Central Bank of China said that it would launch legal digital currency as soon as possible; In July of the same year, the Ministry of instry and information technology issued the letter on organizing and carrying out research on the development trend of blockchain technology and application; On August 11, the Ministry of instry and information technology issued a two-year plan for blockchain.

5. Blockchain is a public account book. You can't say that your natural gas and chopsticks violate the law, because they are just tools
Chinese Mahjong: the world's earliest blockchain project
first of all, a initiates an application. I want to play mahjong and set up a mahjong Bureau, which is equivalent to creating a block, and this block will be broadcast to B, C, D, a, B, C, C, C, C, C, D, D, D, D, D, D, D, D, D, D, D, D, D, D, D, D, D, D, D, D, D D...
in the process of playing mahjong, the above four people constantly play cards, which can be understood as mining, through what to mine? Mahjong machine can understand the mineralization machine. These four miners are the so-called miners. These four miners collide from 144 mahjong, and any right card can be Hu card. We can understand the 144 mahjong as a series of hash values (numbers). The process of Hu card is called computational power. Until Hu card, it means that the right hash value is collided and you can get a reward, Each person will pay the corresponding chips to C and put them in the blockchain. The reward is bitcoin or other virtual coins
Why do the other three people take the initiative to reward C? That's because these people have automatically reached a consensus that C has indeed won, and everyone has recorded the account, including the family members who are sitting next to buy horses. It's not good to deny it, otherwise when it comes out that the character is not good, no one will play with him again. After all, the circle is very important
when we reached a consensus, we didn't see any intermediary or third party judging that C had won, and the rewards given to C didn't need to be transferred to C through the third party. All of them were direct point-to-point transactions. This process was decentralization. The card players (miners) recorded their own achievements in the first game, and the third team won the first game, After the record is completed, a complete block is generated. But remember, this is only the first round. In the whole blockchain, this is just a node. The first eight rounds are finished, that is, eight nodes (blocks). Eight blocks are connected together to form a complete account book, which is the blockchain. Because everyone has one account book, it is a distributed account book. The purpose is to prevent someone from tampering with records. In the end, it is clear who wins or loses.

6.

Hello

the risk of blockchain is greater than that of the stock market, and many countries have set it as illegal! In addition, China's economic transformation, the stock market is not standardized, to tell you the truth, the stock market is currently an institution, or some unemployed people, it is recommended to stay away from the stock market, I emphasize that China's stock market e to the transformation of the national economy, is likely to fall 1500 points position, remember to stay away from the stock, away from danger

7. As a mechanism of allocating social resources, law is determined by the objective requirements of social and economic development and directly affects the whole process of economic operation. It can simplify the complexity of social relations, save transaction costs, and help social members conct transactions safely, normatively and orderly
based on the legal framework, the blockchain technology makes the transaction information more secure and transparent, and the data more traceable through the pre-set automatic execution of intelligent contracts, which greatly reces the cost of law enforcement, presents the situation that the law and technology complement each other, and the law and economy are integrated, which makes the legal constraints and enforcement graally move towards intelligence
what is blockchain
blockchain is an innovative application mode of distributed data storage, point-to-point transmission, consensus mechanism, encryption algorithm and other computer technologies in the Internet era
blockchain is essentially a decentralized distributed ledger database. It is a series of data blocks associated with cryptography. Each data block contains the information of effective confirmation of multiple bitcoin network transactions, which is used to verify the validity of the information (anti-counterfeiting) and generate the next block
foreign legal regulations on blockchain
as the blockchain technology itself is still in the exploration stage and has not been applied on a large scale, only some countries have enacted special legislation on blockchain technology< In the United States, Vermont and Arizona have passed bills to clearly define and support blockchain technology for public use. The bill stipulates the use specifications of blockchain and smart contract, and states that all data related to blockchain are "considered as electronic format and become electronic records", which is recognized by the state
UK
distributed ledger Technology: beyond blockchain mentions that the UK federal government will invest in blockchain technology to analyze the potential of blockchain application in traditional financial instry
Singapore
the government supports financial technology enterprises such as blockchain technology, and has launched a regulatory sandbox to provide a more tolerant development environment for blockchain start-ups
China's legal regulation on blockchain
in addition to the above-mentioned policies on blockchain itself, a series of regulatory provisions have been issued internationally for virtual currencies such as bitcoin
in our country, in addition to the policies on the transaction and financing of bitcoin and other virtual currencies, the government has also issued many policy regulations on blockchain
on December 27, 2016, blockchain technology was listed in the notice of the State Council on printing and distributing the 13th five year plan for national informatization. At the same time, the State Council also issued a document "China's blockchain instry is expected to walk in the forefront of the world" to support the healthy development of blockchain
it is mentioned in the guidance of the general office of the State Council on actively promoting the innovation and application of supply chain that we should study and use emerging technologies such as blockchain and artificial intelligence to establish a credit evaluation mechanism based on supply chain. Promote the organic docking of various supply chain platforms, and strengthen the disclosure and sharing of credit rating, credit record, risk warning, illegal and dishonest behavior and other information< In the eyes of lawyers, the legal risks of blockchain technology
as a distributed system, blockchain is an innovative application in the field of technology. According to the current exploration results, its technical concept can bring great changes to the development of various instries
however, as the law has not yet issued clear instry standards and applicable norms for blockchain, there are still problems such as national supervision and legal regulation in the future
taking bitcoin as a typical digital currency as an example, the first problem we face is supervision. Bitcoin and other digital currencies based on blockchain technology are logically decentralized and opposed to centralized supervision
secondly, the application of blockchain technology has to face huge risks. Taking bitcoin as an example, loss, theft, attack, speculation, money laundering and all kinds of disturbances, doubts and events have been accompanied by the development of bitcoin
the wide application of blockchain technology is inseparable from smart contract, which defines commitment in the form of digital coding. The two sides of the transaction do not need to trust each other, all transactions are enforced by the code
however, the validity of the form and content of smart contract has not been formally recognized by the law and the judiciary. As the contract text in the form of digital coding, it is not clear whether it can constitute the elements of an effective contract and whether it can meet the authenticity, legality and validity of the evidence to be accepted by the judiciary
e to the decentralized nature of blockchain technology, its own rules are bound to conflict and contradict with social rules and national legal rules. It is precisely conflicts and contradictions, risks and problems that can stimulate motivation and imagination, including that of society, the state and indivials
in the process of transaction, virtual currency based on the application of blockchain technology has posed great challenges to the legal tender and financial system of various countries, and caused investment risks and even social problems.

8.

According to a number of financial media reports, the queen of England seems to be very interested in blockchain technology. The reason is that the British blockchain Association, a non-profit organization, sent a magazine to the queen about blockchain research. The queen learned that this is the first open blockchain research journal to be printed and published at the same time for online reading. The magazine received a reply from the private secretary of the Queen's office, expressing her interest

so what is blockchain< I think it is a technology, a decentralized distributed ledger database, which is composed of different data I have the following views on this:

first, it is a technology

blockchain is a technology, but many people do not understand what kind of technology it is. For example, when shopping on an e-commerce platform, there are sellers and buyers, as well as this e-commerce platform, the blockchain technology is to replace this e-commerce platform

now a lot of technology updates have attracted a lot of people to invest in it. However, without understanding the whole technology itself, it is recommended to be cautious to avoid losing money

What do you think of this? Welcome to tell me in the comments section< strong>