The symbol of Ethereum
just like bitcoin, Ethereum is neither controlled nor owned by anyone - it is an open source project created by many people around the world. Different from bitcoin protocol, Ethereum's design is very flexible and adaptable. It is very easy to create new applications on the Ethereum platform. With the release of homestead, anyone can use the applications on this platform safely
Ethereum is a programmable blockchain. It does not give users a series of preset operations, but allows users to create complex operations according to their own wishes. In this way, it can be used as a platform for many types of decentralized blockchain applications
in a narrow sense, Ethereum refers to a series of protocols that define a decentralized application platform. The core of Ethereum is Ethereum virtual machine (EVM), which can encode any complex algorithm. In computer science terminology, Ethereum is "Turing complete.". Developers can use the existing JavaScript and python as the model of other friendly programming languages to create applications running on the Ethereum simulator.
-
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
ICO (abbreviated as initial coin offering) is the concept of initial public offering (IPO) derived from the stock market. It is the behavior of blockchain project to issue token for the first time and raise bitcoin, Ethereum and other general digital currencies
brief introction to ICO:
ICO is a blockchain instry term, which is a common way to raise funds for cryptocurrency / blockchain projects. Early participants can get the cryptocurrency generated initially as a return
because the token has market value, it can be converted into legal currency to support the development cost of the project. The tokens issued by ICO can be based on different blockchains. The common issue is based on Eth and BTS blockchain, which provides bookkeeping service and value consensus to realize global issue and circulation
ICO participants are very important for the success of a project. They will publicize the blockchain project in the community, so that the tokens generated by it can obtain liquidity before the transaction starts. However, the most important value of ICO participants is still the potential benefits brought by the project development or the price appreciation after the token issue
extended information:
domestic prohibition:
at 3:00 p.m. on September 4, 2017, the people's Bank of China led seven ministries and commissions, including the Information Office of the people's Bank of China, the Ministry of instry and information technology, the State Administration for Instry and commerce, the China Banking Regulatory Commission, the China Securities Regulatory Commission and the China Insurance Regulatory Commission, to issue the announcement on preventing the financing risk of token issuance (hereinafter referred to as the announcement)
the announcement points out that token issuance financing is essentially an unauthorized illegal public financing behavior, which requires that all kinds of token issuance financing activities should be stopped immediately from the date of the announcement, and at the same time, organizations and indivials who have completed token issuance financing should make arrangements such as refund
in front of the article: the video version is slightly different from the text version. If you want to see my affectionate interpretation, please see the video version (meow understands blockchain phase 22 | sharding: Ethereum is too slow, "disk" him!), The logic of thinking is strange. Please see the extended version
recently, Ethereum has shown an overwhelming positive trend e to the Constantinople upgrade, while Ethereum's upgrade road is like upgrading and fighting monsters, falling into rabbithole. No one knows how deep the hole is. Since it is a long way to go, it is of vital importance to make every step well and accurately. After overcoming this difficulty, Ethereum's next technical difficulty, sharding fragmentation, has been put on the table again. This issue of "meow understands blockchain" will take you into sharding, the magic weapon that makes Ethereum fast
what is sharding
slicing technology is not a new concept. At first, it is an optimization scheme for large central database. Specifically, it divides the data in large database into many shards according to certain rules, and then stores these data in different servers to rece the data access pressure of each server, So as to improve the performance of the whole database system
let's take a small popular example:
for example, meituan, Didi taxi and other software that we often use can be divided according to the "city". Because the data of different cities do not need to communicate, the data of different cities can be stored in different databases, so that the database server can be deployed to the nearest node from the corresponding city, Can also improve the speed of access, why not do it
from the above examples, we should have a preliminary understanding of the concept of fragmentation. What about fragmentation in blockchain scenarios
taking Ethereum fragmentation as an example, in the original single chain system, the overall performance of the public chain depends on the performance of a single node. After fragmentation, each node only needs to undertake the work of the whole network, and each fragmentation works in parallel. According to vitalik, each shard is like a separate galaxy, and each fragmentation is like an independent universe, In this way, the efficiency will be improved naturally! Originally, the total network TPS of Ethereum chain was about 20. Now, if it is increased to 100 pieces, the total network TPS can be increased to 2000. Similarly, the total network capacity will be increased to 100 times of the original
"each node only needs to undertake part of the work of the whole network", which will lead to several major problems. 1. How to determine which piece of work this node is responsible for? 2. Which transactions should be classified into which segments? 3. Does each node only need to store its own transaction information (ledger)
according to the implementation of the above problems, we can divide the fragmentation into three types: network fragmentation, transaction fragmentation and state fragmentation
Network fragmentation: how to divide the nodes of the whole network into different partitions
transaction segmentation: how to divide the whole network transactions into different segments
State fragmentation: how to make each node only maintain the account book in its own fragmentation without affecting the security of the whole system
the difference and connection between main chain and fragmentation chain
we have understood the types of fragmentation, so what's the difference between main chain and shard chain
turn left | turn right
the realization of Ethereum fragmentation is a long process. Even vitalik himself said that it will be graally realized by stages. We'd better look forward to whether fragmentation can move from theory to practice