Difference between POC public chain and Ethereum
what is Ethereum:
Ethereum is an innovation based on the application of technologies and concepts in bitcoin to computers. Ethereum itself imitates a lot of bitcoin technology to maintain the computer platform. blockchain technology is one of them
Ethereum platform can safely run any program users want
advantages of Ethereum over other competitive currencies before Ethereum appeared, some digital currencies imitated bitcoin. However, these projects have their own shortcomings, they can only support one or several specific applications at the same time< However, the reason why Ethereum can surpass the limitations of these projects in the past is because of the core idea of Ethereum
what Ethereum wants to implement is a blockchain protocol with built-in programming language. Since it supports programming language, in theory, any blockchain application can be defined with this language, and then run on Ethereum's blockchain protocol as an application
The design of Ethereum is very flexible and adaptable
Ethereum target sets the advantages of blockchain technology, in order to add the advantages of blockchain, such as decentralization, openness and security, to almost all computing fields
blockchain applications of Ethereum
Ethereum has many blockchain applications, such as digital applications of gold and stocks, financial derivatives applications, DNS and digital authentication, etc
Ethereum has achieved more than 100 blockchain applications by many start-ups
Ethereum has also been closely watched by some financial institutions, banking consortia (such as R3), as well as large companies like Samsung, Deloitte, RWE and IBM. As a result, a number of blockchain applications such as simplified and automated financial transactions, merchant loyalty index tracking, and gift cards designed to achieve decentralization of electronic transactions have emerged
the relationship between Ethereum and blockchain:
Ethereum is a programmable blockchain
Ethereum does not give users a series of preset operations (such as bitcoin transaction), but allows users to create complex operations according to their own wishes
in this way, Ethereum can be used as a platform for various types of decentralized blockchain applications, including but not limited to cryptocurrency
like other blockchains, Ethereum also has a peer-to-peer network protocol. Ethereum blockchain database is maintained and updated by many nodes connected to the network. Each network node runs the Ethereum simulator and executes the same instructions. Therefore, people sometimes call Ethereum "world computer"
the trust union credit alliance chain is located in the financial public chain, which is oriented to the high-frequency financial application scenarios in the field of credit and assets. It does not use eth, EOS, Neo and other general public chains, but uses the account structure of star network, adopts the lightweight intelligent contract layer, and the whole technical architecture is molarized according to "high aggregation and low coupling", This enables the trust union credit alliance chain to adapt to the requirements of rapid development, rapid implementation and timely response of Internet financial procts.
-
about the variability of blockchain
-
eth, if most people agree to modify the chain, that is, variability, then they can modify the blockchain records and contracts
-
etc, blockchain records and contracts can't be modified, that is, they can't be tampered with
-
here are the advantages and disadvantages of the two methods
The advantage of -
variability is that people can make timely changes to make the right decisions. Therefore, modifying the specification is more practical than finding loopholes
-
non modifiability means that no matter how smart people are at that time, it is impossible not to make mistakes. Therefore, when problems arise in this scheme, it is best to find and solve the loopholes through the existing legal framework
-
differences in development
-
eth, whether it is intentionally arranged or since its birth, the core decisions of blockchain are made by Ethereum foundation with the participation of the community and most of them are developed by it
-
etc, the decision-making of blockchain is mainly decided by the feedback of three loose, collaborative teams with community participation
-
in any case, anyone can put forward improvement suggestions for the two kinds of blockchains. This is the benefit of open source, and it is also very common. You will find that developers of the two chains communicate with each other through GitHub and reddit. I hope to improve the frequency of communication in order to achieve the common goal
-
about compatibility
-
at present, the two kinds of blockchains are compatible with each other. Contracts or applications written by eth can be applied on etc, and vice versa
-
eth, focusing on ewasm, is committed to providing a platform for more and more developers, while the issue of contract security is secondary, such as viper
-
etc focuses on making developers create more secure contracts, such as viper, iohk research, at the cost of consuming the number of potential developers
-
it's obvious that both chains can accept each other, regardless of whether their wishes are the same or not. My view is that the number of developers is not necessarily related to the quality of the proct
-
about the transaction speed
-
eth, the average is 25 seconds, which will be shortened after upgrading
-
etc, with an average time of 14 seconds, maintained at 10-14 seconds after upgrade, according to ecip-1010 and ecip-1036 protocols
-
about the block capacity
-
eth, with the daily trading volume of eth graally reaching 5 million, the block capacity is graally saturated. This situation is similar to the recent transaction cost of bitcoin. This problem can be solved by expanding the block capacity by increasing the default fuel limit
ETC， At present, there is still a lot of room for block capacity. As more and more people accept etc, the block capacity will also increase, just like eth
-
about community
-
eth, mainly discuss on reddit
-
etc, mainly discuss on slack
-
about monetary policy
-
eth, the planned supply is growing steadily, resulting in an average inflation of 3% in eth blockchain in its life cycle
-
etc, before 2025, inflation will reach 3%, and then the total supply will reach 200 million etc, and then there will be deflation
As for the regional distribution of trading volume, China accounts for 20%, South Korea 25% and the United States 25% In etc, China accounts for 50%, South Korea 25% and the United States 10% About securities, at present, investors do not have the option to trade securities. Recently, one of eth's ETFs, trading open-end index funds, was denied by the regulators -
etc owns etc trading trust, which allows investors to own etc instead of the asset itself
Public chain, also known as "public chain", refers to the blockchain that anyone in the world can enter the system at any time to read data, send confirmatory transactions and compete for bookkeeping. The public chain is generally considered to be "completely decentralized", because no indivial or institution can control or tamper with the reading and writing of data in it. In terms of application, blockchain public chain mainly includes bitcoin, Ethereum, super ledger, most counterfeit currencies and smart contracts. The ancestor of blockchain public chain is bitcoin blockchain, which has the following characteristics:
1, open source code
upload the code to GitHub, and everyone can get complete blockchain data by downloading, Accept the test of the public
2, complete decentralization
anyone can become a node, each node is open, everyone can participate in the calculation of the blockchain, any node is not permanent, but phased, and any center is not mandatory for nodes. Anyone can read and send transactions, and transactions can be effectively confirmed on the blockchain. Anyone can participate in the consensus process. The consensus process determines whether a block can be added to the blockchain and the exact current state. Everyone can get financial reward from it, which is proportional to their contribution to the consensus process. These public chains are generally considered to be "completely decentralized"
3. Developing decentralized applications
through this public chain, developers can easily develop centralized applications. Public chain can protect the rights and interests of users from the influence of program developers
Public chain is also known as "public chain", and public chain refers to the blockchain that anyone in the world can read and send transactions, and transactions can be effectively confirmed, and can also participate in the consensus process. According to the different degree of blockchain network centralization, three kinds of blockchain under different application scenarios are differentiated:
1. The blockchain with open whole network and no user authorization mechanism is called public chain
2. The authorized nodes are allowed to join the network, and the information can be viewed according to the authority. It is often used in the inter agency blockchain, which is called alliance chain or instry chain
3. All the nodes in the network are in the hands of one organization, which is called private chain
extended data:
function of public chain:
1. Public chain can protect users' rights and interests from the influence of program developers:
in public chain, program developers have no right to interfere with users, so public chain can protect users' rights and interests using the program. In addition, the highly decentralized distributed data storage is also one of the biggest characteristics of the public chain, which has the advantages of openness and transparency of transaction data, and data can not be tampered with, so that the public chain can effectively protect the data security of users
2. Public chain can proce network effect:
an information proct has the inherent need of interconnection, because the purpose of people procing and using them is to better collect and exchange information. With the expansion of the network scale, users can get more value from it and their needs can be met. The common chain is open, so it has the opportunity to be applied by many external users and proce a certain degree of network effect
3. Public chain can be applied to actual business scenarios:
except for financial applications, any application scenario with high requirements for trust, security and persistence, such as asset registration, voting, management and Internet of things, will be affected by public chain on a large scale
source: network public chain
Public chain is also known as "public chain", and public chain refers to the blockchain that anyone in the world can read and send transactions, and transactions can be effectively confirmed, and can also participate in the consensus process. According to the different degree of blockchain network centralization, three kinds of blockchain under different application scenarios are differentiated:
1. The blockchain with open whole network and no user authorization mechanism is called public chain
2. The authorized nodes are allowed to join the network, and the information can be viewed according to the authority. It is often used in the inter agency blockchain, which is called alliance chain or instry chain
3. All the nodes in the network are in the hands of one organization, which is called private chain
extended data:
according to the different degree of blockchain network centralization, three different application scenarios of blockchain are differentiated:
(1) the blockchain which is open in the whole network and without user authorization mechanism is called public chain
(2) authorized nodes are allowed to join the network, and information can be viewed according to their permissions. It is often used in inter agency blockchain, which is called alliance chain or instry chain
(3) all nodes in the network are in the hands of one organization, which is called private chain
alliance chain and private chain are also called licensing chain, and public chain is called non licensing chain
The public chain is open to all, the private chain is open to indivials who meet specific conditions, and the alliance chain is open to authorized organizations or institutions
public chain, also known as public blockchains, refers to a consensus blockchain that can be read by anyone in the world, sent by anyone, and effectively confirmed
private chain, also known as fully private blockchains, refers to the blockchain in which the write permission is completely in the hands of an organization, and all nodes participating in the blockchain will be strictly controlled
alliance chain, or alliance blockchains, refers to a blockchain that is managed by several organizations or institutions. Each organization or institution controls one or more nodes and records transaction data together. Only these organizations and institutions can read, write and send transaction data in the alliance chain
blockchain has three types: public chain, private chain and alliance chain
blockchain is a new application mode of distributed data storage, point-to-point transmission, consensus mechanism, encryption algorithm and other computer technologies
blockchain is an important concept of bitcoin. It is essentially a disintermediated database. At the same time, as the underlying technology of bitcoin, it is a series of data blocks generated by using cryptographic methods. Each data block contains the information of a bitcoin network transaction, Used to verify the validity of its information (anti-counterfeiting) and generate the next block
< H2 > reference: blockchain networkmahjong is the earliest application of blockchain in China:
the idea that a wants to play mahjong is equivalent to creating a block:
a calls to inform B, C and D, which means "decentralization & quot; Point to point transmission of
ABCD has formed a consensus that the touch action is "mining", and four people are "miners"
mahjong is a hash value. The Hu card is to hit the correct hash value and get the corresponding chip reward, which is called bitcoin
each of the four recorded the first round of the game. In the whole blockchain, this is only one node. If 20 mahjong games were played that day, that is, 20 nodes (blocks), and 20 blocks were connected together to form a complete ledger, that is blockchain< According to historical records, China is the world's earliest application group in blockchain, so you can be proud to say that China is more than 1000 years ahead of the world in blockchain application
it's powerful. Our country is [strong] [strong] [strong]
blockchain 1.0 mainly refers to bitcoin. Blockchain 2.0 extends to all assets, while blockchain 3.0 goes beyond currency, finance, even commerce, and all areas of our lives, including politics, social relations, ecation, medical care, etc. According to the prediction and conception of people in the instry, the era of blockchain 3.0 will be realized in the next five years. At that time, blockchain will be recognized and accepted by all the public like the Internet, thus completely subverting our lives
McKinsey has submitted a technical report on blockchain to the Federal Insurance Advisory Committee of the United States. The report calls 2009-2016 the "Dark Age" and believes that all blockchain solutions ring this period are based on bitcoin, and the new era of blockchain will begin in 2016. At that time, the application of blockchain will become unprecedented. Applying an original sentence in McKinsey report: Based on the current development speed of blockchain, we believe that blockchain solutions may realize their full potential in the next five years.