Ethereum world 500
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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
< UL >do nothing and try to bear the consequences of the attack; Or
start soft bifurcation to recover funds; Or
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 etc hot money, okex, AAX, etc
however, bitcoin is not the only cryptocurrency with rising value. The value of another cryptocurrency called Ethereum has been increasing since January 2017. From $8.24 to $203. Up 2367%
investors are worried that in the past few years, cryptocurrencies have gained the favor of many investors who are looking for other investment methods than traditional ones. Although most investors still invest their money in traditional financial markets, such as the stock market and foreign exchange market, many of these investors have begun to worry about the economic climate of the world economy
recent events have made us aware of the instability of traditional financial markets such as the stock market and foreign exchange market. Many investors have been looking for other ways to invest their money
with the creation and popularization of cryptocurrency and its rapidly rising value, many investors, especially those from Asia, have joined the trend of bitcoin and cryptocurrency
advantages of Ethereum
although many people are more familiar with it, Ethereum has also gained a fair share of the market with its own value. However, there are key differences between the blockchains used by Ethereum and bitcoin
the difference between the two systems is that Ethereum's data processing speed is faster than that of bitcoin, because once agreed, Ethereum's system will automatically apply to the terms and conditions in the contract
although many people may think that Ethereum may be inferior to bitcoin because its value is lower than bitcoin, this is a good thing for investors who are looking for investment channels other than bitcoin. A lower price may attract more investors because it has more room for growth. The only drawback is that Ethereum is not as established as bitcoin. In view of this, bitcoin is more secure than Ethereum<
not as volatile as before
since bitcoin was founded in 2009, cryptocurrencies have made great achievements, and they have continued to grow. In fact, the value of legal cryptocurrency has risen a lot since then
although cryptocurrencies have performed very well this year, analysts expect that when the economic situation is good, investors will leave cryptocurrencies and return to traditional investment media. When this happens, the volatility of cryptocurrency will decrease because of the decrease of demand
of course, we will still see the growth of cryptocurrency in the next few years, which will help the instry remain strong. When that happens, it's a good idea for investors to hold cryptocurrencies for future growth.
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"
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about the variability of blockchain
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eth, if most people agree to modify the chain, that is, variability, then they can modify the blockchain records and contracts
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etc, blockchain records and contracts can't be modified, that is, they can't be tampered with
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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
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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
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differences in development
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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
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etc, the decision-making of blockchain is mainly decided by the feedback of three loose, collaborative teams with community participation
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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
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about compatibility
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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
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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
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etc focuses on making developers create more secure contracts, such as viper, iohk research, at the cost of consuming the number of potential developers
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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
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about the transaction speed
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eth, the average is 25 seconds, which will be shortened after upgrading
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etc, with an average time of 14 seconds, maintained at 10-14 seconds after upgrade, according to ecip-1010 and ecip-1036 protocols
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about the block capacity
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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
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about community
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eth, mainly discuss on reddit
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etc, mainly discuss on slack
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about monetary policy
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eth, the planned supply is growing steadily, resulting in an average inflation of 3% in eth blockchain in its life cycle
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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
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 of all, we need to understand what is MLM:
MLM refers to the illegal behavior of organizers and development personnel to obtain wealth by calculating and paying remuneration to the developed personnel based on the number or performance of the personnel directly or indirectly developed, or requiring the developed personnel to pay certain fees to obtain the qualification to join. The essence of MLM is "Ponzi scheme", that is to say, the money of later comers is distributed to the income of former comers
However, the new type of MLM does not restrict personal freedom, does not accept ID cards and mobile phones, and does not take classes collectively. Instead, it uses capital operation as a banner to pull people to cheat money, drives luxury cars, wears gold and silver, and uses money to attract your relatives and friends to join in, and finally makes you lose all your moneythen judge whether the ether coin is a kind of MLM, whether you need membership fee, whether you need to ask your relatives and friends to join
extended materials:
Ethereum is an underlying technology platform on which developers can create distributed applications. With the application, there will be transactions. With a transaction, you need money to complete the transaction. In this way, money has value, and investors' investment has a return. If the transaction volume on the platform is larger and larger, the demand for money will be higher and higher, and the money will be more and more valuable
from the perspective of image, bitcoin creates a kind of digital gold, while Ethereum creates a country, and Ethereum is the credit currency of the country
after bitcoin, there are thousands of digital virtual currencies in the world, many of which are completely deceptive in the guise of "digital currency". Previously, Haikou Municipal Public Security cracked down on a pyramid selling organization called "Eurasian currency", which operated on the internet pyramid selling platform, making more than 40000 investors cheated, involving 4.06 billion yuan. The field of virtual currency has just started, so we need to be cautious
resources : Ethernet money network
Eth is the Federal Institute of technology of Zurich, located in Zurich, Switzerland. It is a world-renowned top research university. For many years, it has ranked first in European universities and enjoys the reputation of "the first university in Europe". It ranks sixth in the world in the comprehensive ranking of QS World Universities in 2020
The Federal Institute of technology in Zurich was founded by the Swiss Federation in 1854 and began to teach as a technical college in 1855. Initially, it consisted of six faculties of architecture, civil engineering, mechanical engineering, chemistry and forestry, as well as an organization integrating mathematics, natural sciences, literature, social sciences and politicsthe Federal Institute of technology of Zurich ranked 9th in the world in the 2016 QS World University comprehensive ranking; In 2017, QS ranked the eighth in the world; Ranked 10th in the world in the comprehensive ranking of QS World Universities in 2018; Ranked 7th in the world in the comprehensive ranking of QS World Universities in 2019; In 2020, QS ranked the sixth in the world
the development status of eth
the Swiss Federal Institute of technology was established by the Swiss Federal Government in 1855 for the needs of national instrialization, which is a Federal University. It is not only for its own development, but also for the whole country, Europe and even the world to engage in scientific research. At the beginning, the university only had civil engineering, forest science, mechanical engineering and chemistry, and then added humanities, sociology and political science
the school has 26000 teachers and students from more than 100 countries in 16 departments, and its teaching and research fields include architecture, engineering, mathematics, natural science, social science and management science. For eth, the number of students enrolled and tuition fees are not considered at all. With the support of the federal government, the college receives as much as 9.2 billion Swiss francs a year for ecation, which does not include the use of property management and new teaching facilities
the college has also received up to 3 billion Swiss francs from third-party funding and its own technology transformation. All these funds are used for school running and scientific research, or most of them are directly used for more than 20000 students and 500 professors (full-time equivalent personnel of more than 9000 person years)
Even so, ETH continues to say that it is short of money in its annual reports in recent two years, and the reason is very simple. In order to compete with other institutions (universities), our independence is the most important, so we need a long-term sustainable financial supportlast year, we expanded the enrollment of 4% of the students. At present, the number of students is 156% of that ten years ago, the number of professors has increased by 23%, and the number of scientific research personnel has increased by 53%. However, the government's scientific research funding has only increased by 42%, and the available area for ecation has only increased by 7%. We are facing great challenges
However, it is not surprising in Switzerland. Due to its unique ecation system, all resources in Switzerland are concentrated in 10 universities and 2 federal polytechnics. In other words, there are only 12 universities at the level of higher ecation, and the country is not short of money, so the current situation is formedIn 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
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.