Ethereum's highest record
etc (Ethereum Classic) is a bifurcated currency that Ethereum hard bifurcates after 1920000 blocks, and its function is very similar to Ethereum. Etc adheres to the concept of decentralization and supports the consensus mechanism of blockchain guarantee. Etc firmly believes that once the blockchain starts to run, its development direction will not be controlled by any central team, but will be determined by the consensus of the people participating in the whole network and the consensus of the computing power of the whole network
the Ethereum blockchain hard branching in July 2016 aims to transfer the Dao funds stolen by hackers to an account controlled by investors, and let the old transaction records be forgotten by history. Most Ethereum developers are involved in the reversal, as are exchanges, startups and other members of the ecosystem. A few days later, the project returned to normal. But not everyone wants to forget the old record. As a result, a small number of miners continued to use the original blockchain as a protest. They described the hard fork as a capital withdrawal for the abandoned project of the Dao. So Ethereum classic (etc) was born
2. Detailed parameters
Chinese Name: Ethereum classic English Name: Ethereum classic English abbreviation: etc
developer: Ethereum Classic team core algorithm: ethash consensus proof: POW
release date: 2016 / 7 / 20 block time: About 15-17 seconds / block
total currency: fixed at 210 million, up to 230 million, Every 5 million blocks decelerate by 20%, and the first proction rection is expected to be in December 2017
main features: independent cryptocurrency
first, smart contracts are so good that they are not useless
smart contracts. As the name suggests, smart contracts refer to contracts that can be executed automatically by computer code; Ethereum virtual machine is used to execute smart contract; Smart account is the carrier that smart contract can be executed. In other words, smart account, this "account" can be controlled by Ethereum virtual machine. According to what control, according to smart contract
there is no free lunch in the world. The smart contract function is so good that it's not useless. When you trade in Ethereum, you have to pay the miner's handling charge. So what's the handling charge you have to pay on Ethereum system, and what's the relationship between
gas and handling charge
2. What's the matter with Ethereum gas
Ethereum gas is similar to automobile fuel. It needs Ethereum gas to drive smart contract. Gas is an English word, Chinese meaning: gas, gasoline, this thing in daily life, is a consumable. Why does Ethereum proce fuel
what is the meaning of gas in Ethereum? In fact, Ethereum's gas is closely related to transaction costs. Ethereum transaction needs service charge. This gas is the calculation mode of service charge of Ethereum
in the setting of Ethereum, the transaction fee is similar to an encrypted fuel, namely gas, which can drive the movement of smart contracts. When Ethereum executes transactions on the blockchain, the fuel will be graally consumed according to the rules of the characteristics
from this point of view, gas is really the same as its original intention, like automobile fuel. If you want to start a car, you must need fuel
What is the difference between the transaction fees of Ethereum gas and bitcoin In essence, Ethereum is a virtual machine, which is decentralized and controlled by people all over the world, forming a "world-class computing network". When you send a token, execute a contract, transfer Ethereum, or do other things on the block, the computer needs to calculate when processing the transaction, which consumes network resources. In this way, you have to pay the "gas" to get the computer to work for you and the miners to process the transaction for yougenerally, the higher the gas price the sender is willing to pay, the greater the value the miners get from the transaction, and the more likely the miners are to choose the transaction. In this way, miners are free to choose to trade. In order to set the gas price for the sender as a reference, miners can directly put forward the lowest gas price they need to execute the transaction
How to calculate the gas consumption of Ethereumwhen Ethereum virtual machine processes transactions, Virtual Opportunities process one by one according to the operation instructions determined in the transaction, and each operation instruction has a specified gas consumption
Ethereum system stipulates two accounts: one is normal account and the other is smart account
for ordinary transfer transaction, that is to call "normal account", the required gas is fixed 21000
when calling "smart account", because the complexity of smart contract is different, the required gas is also different. The more resources (computation, memory, etc.) used to process transactions, the more gas will be needed. For example, an addition operation will consume 3gas. If more complex operations are performed, the more gas will be consumed
then you may ask a question: when a user's transaction involves a malicious smart contract, the contract is extremely complex, and the execution of the contract will consume unlimited fuel, what should we do? The solution of Ethereum system is: in order to avoid unlimited gas consumption caused by malicious
smart contract, the user needs to set the maximum allowable fuel consumption when sending the transaction, namely
gaslimit. In this way, even if there is a malicious smart contract, the worst case is only within the fuel consumption range specified by gaslimit
What is the relationship between Ethereum gas and transaction feeson Ethereum, the service charge you pay is equal to gasprice times gasused
you can understand gasprice as the unit price of fuel and gasused as how many liters of fuel the car needs
for a car, if you say 20 yuan per liter of gasoline, 10000 liters of gasoline is 200000 yuan. For Ethereum, each
gas is 20 gigabytes (gigabytes is the unit of quantity of Ethereum currency), and 10000 gas is: 20 times 10000 equals 200000 gigabytes, 20000 gigabytes equals 0.0002 Ethereum, that is to say, the transaction procere is 0.0002 Ethereum
the specific exchange value is shown in the following table:
for specific exchange rate query, you can check the following website:
for details https://jin10086.github.io/etherconVerter/
both gas price and ether price are freely regulated by the market, but they are different in that the price of ether fluctuates according to the market situation, while the price of gas is determined by miners, If the price of fuel falls below the miners' minimum requirements, the miners refuse to process the deal. The separation of gas and Ethereum can protect the system from the possible fluctuation with the rapid change of Ethereum price
generally speaking, most miners will choose to give priority to their interests. When dealing with the transaction, they will arrange according to the gas price from high to low, and give priority to those with high gas price. If you are in a hurry to trade, you need to raise the gas price so that the miners can see you earlier; If you are not in a hurry, you just need to set a gas price, which is above the bottom line of gas price set by miners
How is gas obtainedin fact, gas is the ether coin purchased from the miner. The ether coin in the user's own account can purchase gas from the miner, and the Ethereum client will automatically purchase gas with Ethereum according to the specified maximum transaction expenditure limit
Where did gas go in the endfor each transaction, the initiator of the transaction must set the gas limit and gas price. Different operations will proce different gas costs. When the gas is used up, the miner will stop executing, and the gas used will be used as a reward to the miner. This will involve several situations:
the first situation is that if there is a surplus gas, the miner will stop executing, Then the remaining gas will be returned to the transaction initiator or the creator of the smart contract. For example, if I send an Ethereum to Yiyi, the gas limit I set is 50000, and the gas normally consumed is 21000, then the remaining 29000 that has not been consumed will be returned to me
in the second case, if the gas limit I set is too low, or the Ethereum in my account is not enough to pay for my gas consumption, then the transaction will be cancelled e to insufficient gas, and the gas used for calculation will not be returned to my account
in the third case, if the transaction fails, I have to pay the handling charge for the occupied computing resources
How to set a reasonable gas pricebefore each transaction, you can query this website to confirm the gas price to be set: https://ethGasstation.info/ To sum up, in this article, we mainly introce the gas and service charge of Ethereum: gas is equivalent to fuel oil. When you process transactions on Ethereum virtual machine, you will consume computing resources, that is, gas. On Ethereum, the service charge you pay is equal to gasprice multiplied by gasused, that is, the unit price of gas multiplied by the total amount of gas consumed. The complexity of the operation is different, and the cost of gas is also different. When the gas is used up, the miner will stop executing, and the gas used will be used as a reward to the miner. The miner will give priority to the trader with higher gas price
Web link here you can see the latest Ethereum price
in today's mobile payment era, few people will use coins for payment . A lot of people, they think that mobile payment is more convenient, if you carry RMB, it will be very troublesome, so now less and less people use paper money to pay. In fact, the process of making paper money is also very complicated. The materials used to make coins are different metals. Compared with those rare metals, low-cost metals are more suitable for making coins
< / blockquote >and those rare metals, such as gold or silver, are suitable for making commemorative coins with collection value . In many countries, some of their currencies are made of alloy, because it is a very ideal material for coinage, and the hardness is improved by mixing with other metals. At the beginning of making coins, we should choose the materials and put the selected metals in the furnace for casting and melting. After many times of rolling in the rolling workshop, the thickness of the coin can meet the requirements of coins, and it can be made into semi-finished procts for further processing{ RRRRR}
with the progress of science and technology, now many mold making machines have become engraving machines for casting to replace the previous manual process . It can improve the accuracy to a certain extent. It used to take a whole day to manufacture, but now it can complete the remanufacturing of the mold within a few hours. After that, it can be pressed on the coin, and the coin will become the currency in circulation
Compared with bitcoin's prestige, although the rise of the value of ether currency is more terrible than that at the beginning of the year, its reputation and market scale are still inferior to bitcoin. Peter szilagyi, director of bitcoin development team, brought the data of Ethernet network nodes to Google Earth to tell you clearly how Ethernet will dominate the digital currency world in the future
in the two years since its birth, Ethereum has rapidly occupied the rich countries or regions in the world
if we compare the richer regions in the world, such as Europe and North America, with the poorer regions in Asia and South America, & quot; In an email interview with CNBC, szilagyi wrote: & lt; You will find that the density of active nodes is related to the transportation convenience, instrialization and affluence of the region. In my opinion, this correlation is e to the relatively concentrated resources required for the full operation of Ethereum& rdquo;
I think the first reason why Ethereum has been setting new records is that it has a lot of capital
the second reason is that many ordinary people have paid attention to virtual currency . These ordinary people have strong purchasing power, and they may have been speculators in stocks or funds before. When they find that the virtual currency is rising well, they will bring a lot of money into the market. The admission of these ordinary people will increase more capital admission, because in the view of capital, these ordinary people are a crop of leeks
the third reason is e to the soaring price of bitcoin, bitcoin is now rising very rapidly, from $20000 a bitcoin in 2020 to $60000 a bitcoin now. It's terrible. For a lot of capital, they can't speculate on bitcoin. Because bitcoin's plate is too big, they have to go back and speculate on Ethereum
first, a large amount of capital has entered the market
at present, the global economy is not very good, there are not many things that can be invested, and the global currencies are devaluing and inflating for a lot of capital, their money will depreciate one day if they hold it in their hands. They need to invest their money. At this time, they find that the virtual currency can keep the value and will not inflate. At this time, there will be a lot of capital, with a lot of money to buy Ethereum. When a lot of people go to buy Ethereum, it is normal for Ethereum prices to rise