Ethereum's own distributed system

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.

BTC bitcoin

bitcoin is the first distributed digital asset platform created. Since its launch in 2009, it has proven to be not only the most popular, but also the largest market capital value. In addition, it is also the most expensive, with a value of $10710 per coin on February 17, 2018. Bitcoin introces the first blockchain distributed ledger dedicated to recording all transactions, and gets rid of the function that users need a central authority to process or verify transactions

its goal is to provide a platform for users to conct cross-border transactions without any intermediary, which is what we call decentralization. The platform's largest money (BTC) supply is about 21 million. Of this figure, about 16.5 million have been mined and are now in circulation. It is mined all the time around the world to ensure the circulation of coins

Advantages:

1. Its distributed system provides users with great freedom

2. High portability

This is a secure network

disadvantages:

1

2. The user may lose the key

eth Ethereum

Ethereum is also a distributed platform, which was created by Network Programmer vitalik buterin in July 2015. Ethereum aims to enable users to create and deploy smart contracts. One of the main functions of smart contracts is to allow the creation of encrypted assets or tokens running on Ethereum networks. Ethereum token is used to purchase various functions such as cloud storage space. These tokens are stored in a digital wallet compatible with Ethereum blockchain

Ethereum's digital currency ether serves as the medium for executing smart contracts. At present, about 98 million ether coins have been mined and circulated, and the circulation supply increases by about 18 million every year. Ethernet coin is created to run on the Ethereum network. It can be used to compensate the participant nodes or transfer from one user to another

advantages:

1

2

The safety was very high

disadvantages: large circulation

< H2 > extended data:

generation principle:

starting from the essence of bitcoin, the essence of bitcoin is actually a special solution generated by a bunch of complex algorithms. A special solution is one of the finite solutions of a system of equations. Every particular solution can solve the equation and is unique

in the metaphor of banknotes, bitcoin is the number of the top word of a banknote. The number of the top word on a banknote owns the banknote. The process of mining is to constantly seek the special solution of the equation system through huge amount of calculation. The equation system is designed to have only 21 million special solutions, so the upper limit of bitcoin is 21 million

to mine bitcoin, you can download the special bitcoin computing tools, register various cooperation websites, fill the registered user name and password into the computing program, and then click the operation to officially start

after completing the installation of bitcoin client, you can directly obtain a bitcoin address. When others pay, you only need to post the address to others, and you can pay through the same client

after installing the bitcoin client, it will assign a private key and a public key. You need to back up the wallet data containing your private key to ensure that your property is not lost. Unfortunately, if the hard disk is completely formatted, personal bitcoin will be completely lost

3. Ethereum project draws lessons from the technology of bitcoin blockchain and expands its application scope. If bitcoin is a special calculator using blockchain technology, Ethereum is a general-purpose computer using blockchain technology. In short, Ethereum = blockchain + smart contract
compared with bitcoin, the biggest difference of Ethereum is that it can support a more powerful scripting language (technically speaking, Turing's complete scripting language), allowing developers to develop any application and implement any smart contract on it, which is also the most powerful point of Ethereum. As a platform, Ethereum can be compared with Apple's app store, on which any developer can develop applications and sell them to users. Each type of financial contract can be written as a smart contract in the form of program code<

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4. Ethereum is a distributed computing platform. It generates an cryptocurrency called ether. Programmers can write "smart contracts" on the Ethereum blockchain, and these Ethereum smart contracts will be executed automatically according to the code

what is Ethereum
Ethereum is often compared with bitcoin, but the situation is different. Bitcoin is a kind of cryptocurrency and distributed payment network, which allows bitcoin to be transferred between users

related: what is bitcoin? How does it work

Ethereum has a bigger goal. As Ethereum says, "Ethereum is a distributed platform running smart contracts.". These smart contracts run on "Ethereum virtual machine", a distributed computing network composed of all devices running Ethernet nodes

"distributed platform" means that anyone can set up and run an Ethereum node just as anyone can run a bitcoin node. Anyone who wants to run "smart contracts" on nodes must pay the operators of these nodes in ether, which is a cryptocurrency related to Ethereum. Therefore, the person running the Ethernet node provides computing power and gets paid in the Ethernet, which is similar to the way that the person running the bitcoin node provides hash power and pays in bitcoin

in other words, although bitcoin is only a blockchain and payment network, Ethereum is a distributed computing network, and its blockchain can be used for many other things. Details are provided in the Ethereum white paper

what is ether
Ethernet is a digital token (or cryptocurrency) related to Ethereum blockchain. In other words, Ethereum is the token and Ethereum is the platform. But now people often use these terms alternately. For example, coinbase allows you to buy Ethereum, which stands for Ethereum

this is technically "altcoin", which actually means a non bitcoin cryptocurrency. Like bitcoin, ether is supported by distributed blockchain - in this case, Ethereum blockchain

developers who want to create applications or Ethereum smart contracts on Ethereum blockchain need Ethernet token to pay for nodes to host it, while users of Ethereum based applications may need Ethernet to pay for services in these applications. People can also sell services outside the Ethereum network and accept Ethernet payments, or they can sell Ethernet tokens in cash - just like bitcoin

5. 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.