What's the recovery of Ethereum classic
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
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
Log in to the official website, click the "recharge" button on the top right of the page, in the [recharge withdrawal] mole, click [eth] - [eth recharge], select the default recharge account as [RMB spot account], check your recharge address, and then recharge through Ethereum wallet
expansion:
1. Ethereum is not an organization, but an underlying system that can realize intelligent contract and open source on the blockchain. From its birth to may 2017, Ethereum has more than 200 Ethereum applications around the world in just three and a half years. Ethereum is a platform and a programming language, which enables developers to build and release the next generation of distributed applications
Ethereum can be used to program, distribute, guarantee and trade anything: voting, domain names, financial exchanges, crowdfunding, corporate management, contracts and most of the agreements, intellectual property, and smart assets that benefit from hardware integration. On June 12, 2017, the price of Ethernet currency broke through $400, a record high. From $8 in February 2017 to $400 on June 15, 2017, the price of Ethernet currency has increased 50 times. At the same time, the price of bitcoin has eased, 10% lower than the previous peak, and the price of ether coin is much better; Take over & quot; Bitcoin continues to soarFirst enter the official website, find the corresponding currency in the recharge withdrawal, fill in the corresponding information, and then submit the withdrawal
Trading rules of bitcoin: 1. Trading time: 7 * 24 hours, all year round
2. Account opening: the account opening process is simple. You only need to register with niubitnet and complete the real name authentication to recharge RMB, and at least recharge RMB 100 to start the transaction
Transaction fee: 0.2% for each transaction T + 0 trading mechanism: the stock is t + 1 trading, that is to say, the stock can be bought on the same day and sold on the next trading day. Bitcoin and other digital assets are t + 0 transactions, which can be bought and sold on the same day. And there is no limit on the number of transactions 5. No limit on the rise and fall: the stock has a limit on the rise and fall, while bitcoin and other digital asset transactions have no limit on the rise and fall, for example, bitcoin rose more than 20% in a single day on May 28
6. Trading unit: the minimum number of BTCs that can be bought / sold is 0.001 (about 17 yuan), and there is no buy / sell limit of at least one hand (100 shares)
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