Five years of Ethereum

1.

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"

2. GBK
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 inspired by bitcoin by vitalik buterin, a programmer, between 2013 and 2014, and now it's 2.0. Ethereum 2.0 is also something that the whole coin circle is waiting for. In order to celebrate the birth of the genesis block of eth2.0 on December 1, chinacoin officially supports the exchange of eth2.0 verification nodes at 17:00 Hong Kong time on November 20, 2020. It will invest its own eth in the verification node mining and exchange qeth to obtain liquidity. It will participate in the mining as soon as the exchange is received. Now it will give back to the user's welfare. The top 1000 eth enjoy the over exchange of qeth according to the ratio of 1:1.02. Compared with eth2.0, qeth has too many advantages: liquidity is guaranteed, users do not need to bear the technical cost, the threshold of participation does not need 32 eth, as low as 0.1eth, nodes are maintained by the platform, and the revenue is distributed according to eth2.0< br /> < br /> < br /> 

3. Ethereum is not a kind of currency, but a decentralized intelligent protocol. It can be understood as a huge global account book. The logic of this intelligent protocol does not need a specific server to support its daily operation. Instead, it is the protocol terms given by the executors before entering among the scattered users. This is an application evolved from decentralization
compared with bitcoin, we can find that Ethereum is more difficult to develop a new encryption technology than bitcoin. This breakthrough has greatly reced the development cost and time for developers who apply blockchain technology. The emergence of Ethereum once again reiterated the need to split the center, as well as the feasibility and advantages of decentralized distributed applications, to the existing economic market, the financial sector a new direction of development and throw to the society a new entrepreneurial ideas and opportunities.

4. At 5 o'clock this morning, when we were still sleeping, bitcoin rose sharply to US $5300, accompanied by the rapid rise of the leading currencies. After the rapid rise, bitcoin fell sharply. When it fell to US $4700, it quickly returned to US $4900-5000 and stabilized, then the leading currencies also followed bitcoin.

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.

Cryptocurrency is not a tangible currency that can be carried with you, but a digital asset that can be exchanged“ The "encryption" part comes from using encryption technology for security and authentication ring a transaction

when using cryptocurrency for exchange instead of legal tender, crypto owners do not have to rely on banks to facilitate transactions, and can successfully avoid the costs of using financial institutions

generally, cryptocurrency transactions are processed and completed through the blockchain network. The blockchain is designed to be decentralized, so each computer connected to the network must successfully confirm the transaction before it can process it. Ideally, this would create a more secure transaction for all involved. It can also cause you to wait for a while; One of the big complaints about bitcoin is how long it takes to complete the transaction

domestic cryptocurrencies include bitcoin, Ethernet, Leyte and e-dinarcoin

extended data:

bitcoin: the concept of bitcoin was first proposed by Nakamoto in 2009. It is a P2P form of digital currency. Bitcoin is generated through a large number of calculations according to specific algorithms. Bitcoin economy uses the distributed database composed of many nodes in the whole P2P network to confirm and record all transactions, And the use of cryptography design to ensure the security of all aspects of money circulation

ether coin: ether coin (a digital token of Ethereum, regarded as "bitcoin version 2.0"), can be bought and sold on the trading platform

lightcoin: lightcoin is a kind of network currency based on "point-to-point" technology, which can help users pay to anyone in the world immediately. At present, it is the second virtual currency after bitcoin's global circulation market value

reference materials:

network cryptocurrency

7. Drumming flowers, Ponzi scheme. The central bank has issued digital currency. Do you think these are reliable. Illegal on the black market!

8. I plan to start a series to talk about architecture. My previous experience is mainly in the area of Internet architecture. Recently, I am sorting out and analyzing the architecture of bitcoin, Ethereum and EOS, so I am going to write a series of articles to talk about the understanding of Internet architecture and blockchain architecture. It will be divided into four articles: 1. Internet proct architecture, 2. Bitcoin architecture analysis, 3. Ethereum architecture analysis, 4. EOS architecture analysis
there is no central server in Ethereum. Instead, there are many equal nodes connected by P2P protocol, which store all the data in many nodes. When a user initiates a transaction, the transaction will be broadcast out through P2P protocol. The miner node verifies, packages and further broadcasts the transaction to the whole network. After confirmation in the blockchain, the operation is considered to be unchangeable
in the articles on blockchain on the Internet, the two words distributed and decentralized are mentioned, sometimes slightly different, sometimes mixed. The author thinks that if we want to distinguish accurately, the distributed system emphasizes that multiple components work together by sending messages, and the decentralized system emphasizes that there is no central node to control the operation of the whole system. Therefore, we think that Ethereum is both decentralized and distributed, or running a decentralized program on a distributed platform.

9.

Ethereum is a cryptocurrency whose market value is only lower than that of bitcoin. The emergence of Ethereum also makes up for the lack of scalability of bitcoin. After five years of development, Ethereum has accumulated a large number of fans. Ethereum's concise functional application highlights its own advantages, but Ethereum, which has been developing smoothly, has encountered a "blow", In an interview, SEC Chairman Jack Leighton made it clear that Ethereum was a security, which caused an uproar and led to a crisis of trust in Ethereum

some days ago, people have been worried that once Ethereum is identified as a security, most Ethereum transactions will be banned. Once Ethereum trading stops in the U.S. market for some reason, its currency price will plunge, and other Ethereum related cryptocurrencies will avalanche one after another, or even withdraw from trading. The blow to the coin ring is unimaginable

If Ethereum is really a security, the consequences will be unimaginable. After all, Ethereum has a very small position in the currency circle. Most people have Ethereum in their hands, which may make the Ethereum in the hands of investors depreciate significantly, which will bring a disastrous blow to the currency circle. Whether Ethereum can survive the disaster will make the exchange and investors sweat. For more details, please click