Ethereum test network currency
do you remember what the consensus mechanism of bitcoin is? The consensus mechanism of bitcoin is pow. To put it simply, the more work you do, the higher the amount of computation you pay, the more likely you will be the first to find the correct hash value, and the more likely you will be rewarded with bitcoin
however, there are some defects in the pow of bitcoin, that is, it is too slow to process transactions, and miners need to constantly collide hash values through calculation, which is costly and inefficient. Friends who are interested in blockchain knowledge should see such a saying:
in order to make up for the deficiency of bitcoin, Ethereum has proposed a new consensus mechanism, called POS (this is the abbreviation of English, which means "proof of equity", also translated into "proof of equity")
POS simply means the same as its literal meaning: equity, equity. The more currency you hold, the more equity you have, the higher your equity
Ethereum's POS means that the more money you hold, the longer you hold it, the less difficult it will be to calculate and the easier it will be to mine
in the initial setting of Ethereum, Ethereum hopes to build a relatively stable system by using POW in the early stage, then graally adopt POW + POS, and finally completely transition to POS. So, it's true that the consensus mechanism of Ethereum is POS, but POS is only a plan or goal at the beginning of Ethereum's release. At present, Ethereum has not yet transitioned to POS, and the consensus mechanism adopted by Ethereum is still pow, that is, the pow of bitcoin, but it is slightly different from the pow of bitcoin
the amount of information here is a bit large,
the first information point is that the consensus mechanism currently adopted by Ethereum is also pow, but it is slightly different from the pow of bitcoin. So, what's the difference between the pow of Ethereum and bitcoin: in short, the mining difficulty of Ethereum can be adjusted, but the mining difficulty of bitcoin can't be adjusted. Just like our college entrance examination, because the teaching situation and the number of students in different provinces are not the same, so the college entrance examination is divided into national papers and provincial independent proposition
Ethereum said that I am in favor of the topic by region. Bitcoin said: No, it must be the same volume in the whole country. The difficulty is the same for everyone
the popular explanation is that bitcoin uses computer computing power to do a lot of hash collisions, enumerate various possibilities to find a correct hash value. The Ethereum system has a special formula to calculate the difficulty of each block. If a block is verified faster than the previous block, Ethereum protocol will increase the difficulty of the block. By adjusting the block difficulty, the time needed to verify the block can be adjusted
according to the Ethereum protocol, the dynamic adjustment method of difficulty is to make the time interval of creating new blocks in the whole network 15 seconds, and the network uses 15 seconds to create blockchain. In this way, because the time is too fast, the synchronization of the system is greatly improved, and it is difficult for malicious participants to launch 51% (that is, more than half) of the computing power to modify historical data in such a short time
the second information point is: in the initial setting of Ethereum, we hope to achieve the transition from POW to
POS through phased upgrade
dating back to 2014, at the beginning of Ethereum's launch, the team announced that the launch of the project would be divided into four stages, namely, Froniter, homestead, metropolis and serenity. In the first three stages, the consensus mechanism adopts pow (workload proof mechanism), and in the fourth stage, it switches to POS (equity proof mechanism)
on July 30, 2015, the first phase "frontier" of Ethereum was officially released. This phase is only suitable for developers. Developers can write smart contracts and decentralized application DAPP on Ethereum network, and miners begin to enter Ethereum network to maintain network security and get Ethereum coins. The leading-edge version is similar to the beta version, proving whether the Ethereum network is reliable or not
on March 14, 2016, Ethereum entered the second stage of "homeland". In this stage, Ethereum provides the wallet function, so that ordinary users can easily experience and use Ethereum. There is no obvious technology improvement in other aspects, but it shows that Ethereum network can run smoothly
in September 2017, Ethereum has reached the third stage of "metropolis"“ "Metropolis" is composed of Byzantine and Constantinople. The goal of this stage is to introce the hybrid chain mode of POW and POS, so as to prepare for the smooth transition from POW to POS. This is the latest popular "Ethereum Constantinople upgrade". In the Constantinople upgrade, Ethereum will make some changes to the underlying protocols and algorithms to lay a good foundation for the implementation of POW and
POS
how much reward will Ethereum get for mining? Miners who win the block creation competition will get the following income:
1. Static reward, 5 ethereums
2. The fuel cost in the block, i.e. gas, we talked about in the last issue
3. As a part of the block, it includes the extra reward of "Uncle block". Uncle is uncle of uncle, and each uncle block can get 1 / 32 of the mining reward as a reward, that is, 5 times 1 / 32, which is equal to 0.15625 ethereums. Here, let's briefly explain the concept of "TERT block". The concept of "TERT block" was proposed by Ethereum. Why should we introce the concept of TERT block? This also starts with bitcoin. In the bitcoin protocol, the longest chain is considered absolutely correct. If a block is not part of the longest chain, it is called a "orphan block". An isolated block is a block, which is also legal, but it may be found later, or the network transmission is slower, and it does not become part of the longest chain. In bitcoin, the solitude is meaningless and will be discarded later, and the miners who find the solitude will not receive mining related rewards
however, Ethereum does not think that isolated blocks are worthless, and Ethereum system will give rewards to miners who find isolated blocks. In Ethereum, isolated blocks are called "Uncle blocks", which can contribute to the security of the main chain. Ethereum's ten second block interval is too fast, which will rece the security. By encouraging the use of tertiary blocks, the main chain can obtain more security guarantees (because the isolated block itself is legal). Moreover, paying the tertiary block can also stimulate the miners to actively mine and actively use tertiary blocks. Therefore, Ethereum thinks that it is valuable.
Eth is the Federal Institute of technology of Zurich, located in Zurich, Switzerland. It is a world-renowned top research university. For many years, it has ranked first in European universities and enjoys the reputation of "the first university in Europe". It ranks sixth in the world in the comprehensive ranking of QS World Universities in 2020
The Federal Institute of technology in Zurich was founded by the Swiss Federation in 1854 and began to teach as a technical college in 1855. Initially, it consisted of six faculties of architecture, civil engineering, mechanical engineering, chemistry and forestry, as well as an organization integrating mathematics, natural sciences, literature, social sciences and politicsthe Federal Institute of technology of Zurich ranked 9th in the world in the 2016 QS World University comprehensive ranking; In 2017, QS ranked the eighth in the world; Ranked 10th in the world in the comprehensive ranking of QS World Universities in 2018; Ranked 7th in the world in the comprehensive ranking of QS World Universities in 2019; In 2020, QS ranked the sixth in the world
the development status of eth
the Swiss Federal Institute of technology was established by the Swiss Federal Government in 1855 for the needs of national instrialization, which is a Federal University. It is not only for its own development, but also for the whole country, Europe and even the world to engage in scientific research. At the beginning, the university only had civil engineering, forest science, mechanical engineering and chemistry, and then added humanities, sociology and political science
the school has 26000 teachers and students from more than 100 countries in 16 departments, and its teaching and research fields include architecture, engineering, mathematics, natural science, social science and management science. For eth, the number of students enrolled and tuition fees are not considered at all. With the support of the federal government, the college receives as much as 9.2 billion Swiss francs a year for ecation, which does not include the use of property management and new teaching facilities
the college has also received up to 3 billion Swiss francs from third-party funding and its own technology transformation. All these funds are used for school running and scientific research, or most of them are directly used for more than 20000 students and 500 professors (full-time equivalent personnel of more than 9000 person years)
Even so, ETH continues to say that it is short of money in its annual reports in recent two years, and the reason is very simple. In order to compete with other institutions (universities), our independence is the most important, so we need a long-term sustainable financial supportlast year, we expanded the enrollment of 4% of the students. At present, the number of students is 156% of that ten years ago, the number of professors has increased by 23%, and the number of scientific research personnel has increased by 53%. However, the government's scientific research funding has only increased by 42%, and the available area for ecation has only increased by 7%. We are facing great challenges
However, it is not surprising in Switzerland. Due to its unique ecation system, all resources in Switzerland are concentrated in 10 universities and 2 federal polytechnics. In other words, there are only 12 universities at the level of higher ecation, and the country is not short of money, so the current situation is formedThe Internet of things in China refers to a network concept in which information sensing devices such as GPS, laser scanners, etc. connect any item with the Internet according to the agreed protocol for information exchange and communication, so as to realize intelligent identification, positioning, tracking, monitoring and management. The rudiment of the Internet of things is just like the early form of the Internet, local area network, which shows a great prospect
digital currency is abbreviated as digiccy, which is the abbreviation of "digital currency" in English. It is an alternative currency in the form of electronic currency. Both digital gold coin and cryptocurrency belong to digiccy. Digital currency is different from the virtual currency in the virtual world, because it can be used for real goods and services transactions, not limited to online games. The early digital currency (digital gold currency) is a form of electronic currency named after the weight of gold. Today's digital currency, such as bitcoin, lightcoin and ppcoin, is an electronic currency created, issued and circulated by check sum cryptography
the school enterprise alliance of Internet of things in China defines the Internet of things as the combination of almost all technologies, computers and Internet technologies, realizing the real-time sharing of environment and state information between objects, as well as intelligent collection, transmission, processing and execution. In a broad sense, the application of information technology can be included in the category of Internet of things, which is the most direct embodiment of the integration of science and technology
digital gold currency is a kind of electronic currency named after the weight of gold. The typical unit of measurement for this currency is the Troy gram or troy ounces, although sometimes the golden Dinar is used. Digital gold currency is funded by gold storage without quota or decentralized quota. By January 2006, digital gold currency suppliers held more than 8.6 metric tons of gold as reserves, worth about $154 million
This is two different concepts. According to different standards, blockchain can be classified into three categories:
& # 8195&# 8195; 1) According to the network scope of blockchain, it can be divided into public chain, private chain and alliance chain
&# 8195; 2) According to the docking type of blockchain, it is divided into single chain, side chain and interconnection chain
&# 8195; 3) According to the display environment of blockchain deployment, it can be divided into main chain and test chain
the main chain can be understood as a formal online and independent blockchain network, while the public chain refers to a blockchain that can be read by anyone, can send transactions and can be effectively confirmed by anyone, and can participate in its consensus process
In fact, Ethernet is an electronic virtual currency, which is regarded as "bitcoin version 2.0". The blockchain technology "Ethereum", which is different from bitcoin, is the real reason to win Putin's favor
Ethereum is an open-source public blockchain platform with smart contract function. It mainly provides decentralized virtual machine to process point-to-point contracts through its special encrypted currency Ethereum, which is fast and unlimited in quantity. In other words, it is a monetary payment system, but their functions and purposes are different
if bitcoin is considered to be a shared global book that securely records all bitcoin bills. Then Ethereum is to maintain a shared computing platform, which can flexibly and safely run any program users want. Because of this, many countries and enterprises are developing how to use Ethereum technology in the real world
the latest price of eth on btctrade platform of bitcoin trading network is ￥ 2430! The increase is amazing
blockchain Ethereum is widely used
at present, the application of Ethereum technology in Russia is still relatively positive. For example, veb, the state-owned Development Bank of Russia, began to apply Ethereum technology to some administrative functions last week, and Russian steel giants are also testing the application of Ethereum in the safe transfer of international letters of credit. Therefore, Putin believes that this virtual currency can help Russia diversify its economy and support the paving of the way by blockchain technology and the establishment of new businesses
not only Russia, JPMorgan Chase, Microsoft, Intel and others are optimistic about Ethereum technology. At the same time, Ethereum has also been paid close attention by some financial institutions, banking consortia, Samsung, IBM and other large companies, resulting in the simplification and automation of financial transactions, merchant loyalty index tracking, customer satisfaction index tracking, customer satisfaction index tracking, etc Blockchain applications such as gift cards are designed to achieve decentralization of electronic transactions. That's why the etheric currency is rising
the future of ether coin
of course, different from Ethernet, there are 670 bitcoin ATMs in the world, and thousands of outlets support bitcoin payment, but Ethernet has not yet emerged in the field of electronic payment. Mainly used to support the Ethereum network to run the program. Therefore, whether bitcoin will be recognized in the future is still unknown, but what Russian President Vladimir Putin has done may not be a signal
we have said before: it is still difficult to define bitcoin as currency, but it must be an asset, and I think Ethereum must be an asset. Although the application of blockchain technology is not yet mature, in a sense, it will be used sooner or later. After all, in the future era of big data, blockchain technology can better protect the efficiency and privacy of our information
this is why digital currency Ethereum is so popular
hope to adopt
The blockchain project is definitely the best one in terms of mining. This project is also the most popular and risk-free one in blockchain projects. Moreover, mining is also the cornerstone of blockchain and plays an important role in the blockchain instry
hayu miner is a good miner in the mining instry. You can experience hayu miner , and you must make a good choice of blockchain projects, otherwise you will lose all your money
1. Asia and the Middle East will actively promote blockchain
2. Network security requirements will drive the popularization of blockchain
3 - all instries will fully invest in blockchain application technology
4 - automation and privatization are coming.
at present, the central bank's research on digital currency is still at an early stage, and it only plans to launch digital currency, but it is still far away from issuing digital currency. When the central bank studies digital currency, it may study the existing mainstream digital currencies such as bitcoin, Ruitai, dogcoin, etc.