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Ten million users of Ethereum

Publish: 2021-05-08 20:29:51
1.

a brief history of etheric Classics (etc)

etheric classics began with an unfortunate event

in May 2016, the decentralized autonomous organization (DAO) held a token sale with the goal of establishing a blockchain based venture capital to fund future decentralized applications (dapps) in the Ethereum ecosystem

basically, Dao is a complex smart contract that operates in a decentralized way - computer code that automatically performs tasks between multiple parties when conditions are met

despite its ambitious goals and successful token sales, Dao's code has a major vulnerability that allows attackers to steal eth from decentralized organizations

the attacker took advantage of this vulnerability in June 2016, triggering the infamous Dao hacking event, and maliciously stole eth worth about US $50 million

there is no doubt that Dao hacking has shocked Ethereum community and made eth price drop from $20 to $13

after the Dao hacking, the Ethereum community has to choose from three options

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  • do nothing and try to bear the consequences of the attack

  • start soft bifurcation to recover funds

  • deploy a hard fork to recover the lost eth

  • both soft and hard bifurcations are significant network upgrades. However, soft fork allows users who are not upgraded to communicate with upgraded users, while hard fork is not backward compatible with previous versions

    as developers realize that deploying soft forks will expose the network to distributed denial of service (DDoS) attacks, Ethereum community decides to initiate hard forks to recover the funds lost in Dao hacking attacks

    although this scheme is supported by most people, a small number of people in Ethereum community oppose it. They think that "code is the law" and blockchain network should be unchangeable

    the failure of both sides to reach an agreement on the solution eventually led to the fragmentation of Ethereum blockchain

    those who tried to recover the lost eth chose the hard fork and opened the Ethereum (ETH) blockchain as we know it today, while another group stayed on the original Ethereum classic (etc) chain

    what problems does ethereal classic solve

    Ethernet classic (etc) is a blockchain platform that allows developers to deploy smart contracts and dapps

    although this function is the same as Ethereum (ETH), etc blockchain has two main differences

    first of all, Ethereum classic community opposes tampering with distributed ledger and supports the view that "blockchain network cannot and should not be modified"

    secondly, although there is no rigid upper limit on the total supply of eth, it is allowed to create 230 million etc at most by adopting the monetary policy of constant supply

    as a bonus item, ethereal classic launched Atlantis hard bifurcation last year to increase the interaction with Ethereum and improve the privacy protection of transactions through ZK snarks

    the trading platforms recommended by ethereal classic etc are: Fire coin, okex, AAX, etc

    2.

    1. about the variability of blockchain

    2. eth, if most people agree to modify the chain, that is, variability, then they can modify the blockchain records and contracts

    3. etc, blockchain records and contracts can't be modified, that is, they can't be tampered with

    4. here are the advantages and disadvantages of the two methods

      The advantage of
    5. variability is that people can make timely changes to make the right decisions. Therefore, modifying the specification is more practical than finding loopholes

    6. 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

    7. differences in development

    8. 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

    9. etc, the decision-making of blockchain is mainly decided by the feedback of three loose, collaborative teams with community participation

    10. 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

    11. about compatibility

    12. 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

    13. 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

    14. etc focuses on making developers create more secure contracts, such as viper, iohk research, at the cost of consuming the number of potential developers

    15. 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

    16. about the transaction speed

    17. eth, the average is 25 seconds, which will be shortened after upgrading

    18. etc, with an average time of 14 seconds, maintained at 10-14 seconds after upgrade, according to ecip-1010 and ecip-1036 protocols

    19. about the block capacity

    20. 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

    21. 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

    22. about community

    23. eth, mainly discuss on reddit

    24. etc, mainly discuss on slack

    25. about monetary policy

    26. eth, the planned supply is growing steadily, resulting in an average inflation of 3% in eth blockchain in its life cycle

    27. 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

    28. etc owns etc trading trust, which allows investors to own etc instead of the asset itself

    3. Many institutional investors have begun to pay attention to Ethereum. Ethereum also rose and institutional investors have a lot to do with admission. I think Ethereum will go up. The stock exchange proposed to go to Zhongyuan, which is a seven-year-old stock exchange and has never had any security incidents. Trustworthy.
    4. In fact, the rise and fall of digital currency is a normal situation. The key is to see whether you are optimistic about its long-term value. Relatively speaking, if the long-term value is worth investing in, then the short-term decline can be ignored. At the same time, if you don't know much about digital currency users, it is recommended to choose a reliable and good platform for investment. The investment period needs more than six years, Word of mouth should always be good, you can take a look at AEX, fire coin these two, but also more reliable, you can also understand their own network first
    5.

    It does not belong to MLM

    Ethereum is an open source public blockchain platform with smart contract function, which provides decentralized virtual machine (Ethereum virtual machine) to process point-to-point contract through its special cryptocurrency Ethereum

    the concept of Ethereum was first proposed by vitalik buterin, a programmer, from 2013 to 2014, inspired by bitcoin, to the effect of "next generation cryptocurrency and decentralized application platform", and began to develop through crowdfunding in 2014. The market value of Ethernet currency is second only to bitcoin, and it is the second largest encrypted digital currency in the world

    extended data

    bitcoin has created the first decentralized cryptocurrency, and has fully tested the feasibility and security of blockchain technology in more than five years. In fact, bitcoin's blockchain is a set of distributed database. If a symbol bitcoin is added into it and a set of protocol is specified, the symbol can be transferred safely on the database without trusting a third party. The combination of these features perfectly constructs a currency transmission system bitcoin network

    however, bitcoin is not perfect, and the scalability of the protocol is a deficiency. For example, there is only one symbol in the bitcoin Network - bitcoin, and users can't customize other symbols. These symbols can represent the company's stocks or debt certificates, which will lose some functions

    In addition, a stack based scripting language is used in bitcoin protocol. Although this language has some flexibility to realize functions such as multi signature, it is not enough to build more advanced applications, such as decentralized exchanges. Ethereum is designed to solve the problem of insufficient scalability of bitcoin

    6. Note that Ethereum is 2.0 now. As of 13:57 on the 4th, the current deposit contract address of Ethereum 2.0 has received 1000098eth, and 31252 addresses have completed the mortgage of 32eth. With the increasing number of mortgage, the annual yield of mortgage will graally decrease. After the mortgage amount reaches 1 million eth, the current annualized yield is about 15.7%. Zhongyuan, a well-known exchange, has taken the lead in opening the mining channel of eth2.0 verification node, and then launched qeth. Users can invest their own eth in verification node mining and exchange qeth to obtain liquidity, and then participate in mining. Compared with the disadvantages of eth2.0, qeth has too many things: the liquidity is guaranteed, the user does not have to bear the technical cost, the threshold of participation does not need 32 eth as low as 0.1eth, the nodes are maintained by the platform, and the income is distributed according to eth2.0.
    7.

    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

    8. Ethereum is not a scam, but there are countless scams designed by criminals around Ethereum. The best way to avoid Ethereum scams is not to trust the guaranteed return on investment and manage your own money bag. Choose a formal digital currency exchange to invest. At present, the mainstream digital currency transactions in the market are all coin security, fire coin network, bitnet, etc.
    9. Ethereum mining software is an Ethereum market display and trading software. Ethereum mining software can recharge and withdraw cash at any time without time limit. Ethereum mining software has the latest and complete market information. Ethereum mining software adopts advanced technology to ensure the safe, fast and stable trading. Using Ethereum mining software can provide you with professional, fast and convenient bitcoin / lightcoin trading services. Ethereum mining software is a good helper for you to buy bitcoin.
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