Ethereum Byzantium price increase before upgrade
Publish: 2021-04-19 13:32:52
1. What is "decentralization"
"decentralization" is translated from the English word decentralization, which is composed of the prefix de -, stem central and suffix ization. Among them, the stem central means "center", the suffix - ization means "... Hua", and the prefix de - has the meanings of leaving, removing, canceling and opposite. Therefore, it is very accurate to translate it into decentralization
what is the meaning of decentralization
vitalik buterin, founder of Ethereum, published the article "the meaning of decentralization" in February 2017, elaborating the meaning of decentralization. He thinks that we should distinguish the centralization and decentralization of computer software from three perspectives: architecture, governance and logic
Architecture centralization refers to the number of nodes that the system can tolerate and continue to run; Governance centralization refers to how many indivials and organizations are needed to control the system; Logic centralization refers to whether the interface and data presented by the system are like a single whole
blockchain is a unified account book of the whole network, so it is logically centralized, which is beyond doubt. From the perspective of architecture, blockchain is based on peer-to-peer network, so it is decentralized. From the perspective of governance, blockchain makes it difficult for a few people to control the whole system through consensus algorithm, so it is decentralized. The decentralization of architecture and governance brings three benefits to blockchain: fault tolerance, anti attack and anti collusion
five differences between blockchain and traditional distributed system
as a new kind of distributed system, blockchain is often mistakenly regarded as a distributed database or log system. In fact, there is a fundamental difference between blockchain and traditional distributed system, namely decentralization. Now let's look at the main differences between blockchain and traditional distributed systems:
(1) consistency algorithm: what blockchain needs to solve is the Byzantine general problem, that is, there are one or more fraulent nodes in the network, which may deliberately violate the protocol or transmit wrong data, Therefore, Byzantine fault-tolerant consensus algorithms, such as BFT, pow, POS, are often used in blockchain; The traditional distributed system only needs to consider the node failure and communication errors, and often uses consistency algorithms such as Paxos and raft, which can not resist the fraulent nodes
(2) central controller: there is no central controller in the blockchain network, and no node can control or coordinate the generation of ledger data. All nodes coordinate through consensus algorithm to generate consistent ledger. However, the traditional publishing system is often controlled by one organization, which uniformly dispatches all nodes to participate in the calculation
(3) rule making: the rule of blockchain is consensus protocol, also known as consensus mechanism, and consensus algorithm is a part of it. Consensus mechanism is generally designed and developed by a person or a team, and the corresponding proceres are developed for the community to use. This seems to be the same as the traditional distributed system, but the change and upgrading of the consensus mechanism of the blockchain requires the community to have a consensus on it. If no consensus can be reached, anyone can implement hard bifurcation and build another community and chain. This is the decentralization process of consensus mechanism.
"decentralization" is translated from the English word decentralization, which is composed of the prefix de -, stem central and suffix ization. Among them, the stem central means "center", the suffix - ization means "... Hua", and the prefix de - has the meanings of leaving, removing, canceling and opposite. Therefore, it is very accurate to translate it into decentralization
what is the meaning of decentralization
vitalik buterin, founder of Ethereum, published the article "the meaning of decentralization" in February 2017, elaborating the meaning of decentralization. He thinks that we should distinguish the centralization and decentralization of computer software from three perspectives: architecture, governance and logic
Architecture centralization refers to the number of nodes that the system can tolerate and continue to run; Governance centralization refers to how many indivials and organizations are needed to control the system; Logic centralization refers to whether the interface and data presented by the system are like a single whole
blockchain is a unified account book of the whole network, so it is logically centralized, which is beyond doubt. From the perspective of architecture, blockchain is based on peer-to-peer network, so it is decentralized. From the perspective of governance, blockchain makes it difficult for a few people to control the whole system through consensus algorithm, so it is decentralized. The decentralization of architecture and governance brings three benefits to blockchain: fault tolerance, anti attack and anti collusion
five differences between blockchain and traditional distributed system
as a new kind of distributed system, blockchain is often mistakenly regarded as a distributed database or log system. In fact, there is a fundamental difference between blockchain and traditional distributed system, namely decentralization. Now let's look at the main differences between blockchain and traditional distributed systems:
(1) consistency algorithm: what blockchain needs to solve is the Byzantine general problem, that is, there are one or more fraulent nodes in the network, which may deliberately violate the protocol or transmit wrong data, Therefore, Byzantine fault-tolerant consensus algorithms, such as BFT, pow, POS, are often used in blockchain; The traditional distributed system only needs to consider the node failure and communication errors, and often uses consistency algorithms such as Paxos and raft, which can not resist the fraulent nodes
(2) central controller: there is no central controller in the blockchain network, and no node can control or coordinate the generation of ledger data. All nodes coordinate through consensus algorithm to generate consistent ledger. However, the traditional publishing system is often controlled by one organization, which uniformly dispatches all nodes to participate in the calculation
(3) rule making: the rule of blockchain is consensus protocol, also known as consensus mechanism, and consensus algorithm is a part of it. Consensus mechanism is generally designed and developed by a person or a team, and the corresponding proceres are developed for the community to use. This seems to be the same as the traditional distributed system, but the change and upgrading of the consensus mechanism of the blockchain requires the community to have a consensus on it. If no consensus can be reached, anyone can implement hard bifurcation and build another community and chain. This is the decentralization process of consensus mechanism.
2. How to use the three technical indicators to understand the rise and fall of bitcoin
coincola coying Cola
Global innovative digital asset trading platform
how to use the three technical indicators to understand the rise and fall of bitcoin
6 people agreed with the article
read it for you
4 minutes
recently, "bitcoin broke through $8000" has been on the hot search. For a while, bitcoin rose, reborn rose sharply, and Ethereum led the rise... A week later, this big play dominated by bitcoin didn't seem to come to an end, and the trading volume was once pushed up to 100 billion US dollars
in the investment world, "madness" and "fear" coexist. Today's "madness" stems from last year's long-term "fear". However, this time, coincola Cola Research Institute tracks and analyzes the technical indicators behind the rising market, and deconstructs the "passion" of the market with the "rationality" of data< (1) mining and bitcoin price
start with the relationship between mining and bitcoin. The core technology of bitcoin is "blockchain", which is connected by blocks. Each block corresponds to a bill. All transaction information and transfer records of bitcoin are recorded on the blockchain. Every other point in time, the bitcoin system will generate a random code on the system node. Due to distributed accounting, all computers on the Internet can search for the code. Whoever finds the code will generate a block and then get bitcoin. This process is mining. Calculating this random code requires a lot of GPU operations, so miners need to use mining machines with massive graphics cards to make profits
1. Bitcoin computing power: starting to pick up
remarks: June 2018-may 2019 bitcoin hash value
data source: bitcoin visual, coincola Research Institute
the above figure shows the bitcoin hash value. The hash value of the bitcoin network represents the computing power of the blockchain. The growth of computing power means that miners increase mining investment or increase the number of miners. Since the second half of 2018, the hash value has recovered from falling back to picking up, from 32eh / s at the end of the year to 50eh / s now, and the recent growth trend is remarkable. The continuous growth of bitcoin hash value (representing computing power) indicates that the market is optimistic about the future of bitcoin
2. Mining difficulty: stepped up
remarks: bitcoin difficulty from June 2018 to may 2019
data source: bitcoin visual, coincola Research Institute
the figure above shows bitcoin difficulty. Since 2019, the difficulty of bitcoin mining has increased in a step-by-step manner, from the low 5T to the current 7T. It can be seen that the rapid rise of bitcoin in this round has reced mining costs and increased market entry personnel. The increasing difficulty of mining means that there are profit opportunities in cryptocurrency market, and the market is generally optimistic< (2) the number of active addresses and transactions on the chain are important indicators reflecting the activity of cryptocurrency, which are highly correlated with the price of cryptocurrency
1. The number of active addresses on the bitcoin chain: a straight line rise
remarks: the number of active addresses on the bitcoin chain from June 2018 to may 2019
data source: coinmetrics, coincola Research Institute
active addresses refer to the addresses where transactions have taken place every day, that is, how many independent addresses conct transfer transactions on the chain every day. Since 2019, the number of active addresses on the bitcoin chain has been rising, especially in recent years. From 540.60143k in January to 832.592k now. It shows that the rapid growth of active users of cryptocurrency is a very positive signal for the market
2. The number of transactions on the bitcoin chain: continued to rise
remarks: the number of transactions on the bitcoin chain from June 2018 to may 2019
data source: bitinfo charts, coincola Research Institute
since 2019, the number of transactions on the bitcoin chain has continued to rise, from 235k in early 2019 to 374k now. Moreover, since April and may, after two rounds of sharp rise in the price of bitcoin, the number of transactions on the chain has remained at a high level, even showing signs of a short-term surge< (3) lightning network and bitcoin price
in essence, lightning network adds a layer to the basic layer of bitcoin blockchain in order to make the transaction fast and cheap. With the existence of lightning network, users can remit money to each other at any time and pay very little. Lightning network represents not only the technical level of bitcoin, but also the important basis of bitcoin value
1. Lightning network nodes: rapid growth
remarks: bitcoin lightning network nodes from January 2018 to may 2019
data source: bitinfo charts, coincola Research Institute
the test version of lightning network started on the bitcoin main network on March 15, 2018. The number of lightning network nodes was only 64 at the beginning of 2018 and increased to 2329 at the end of 2018. Since 2019, the number of lightning network nodes has increased rapidly, and now it has reached 4289. In less than half a year, the number of nodes has doubled. The continuous expansion of nodes indicates the continuous upgrading and development of bitcoin lightning network technology, which is an important indicator of bitcoin price
2. Lightning network capacity: speed up
remarks: bitcoin lightning network capacity from January 2018 to may 2019
data source: bitcoin visual, coincola Research Institute
the data above shows that as of May 15, 2019, bitcoin lightning network capacity has increased to 1039 BTC, equivalent to 833usd, while at the beginning of 2019, it is only 504btc, Lightning network capacity doubled, and the growth rate accelerated. This means that the expansion of bitcoin has been well solved in lightning network technology, which will help keep the payment channel active and effectively support the functional application of bitcoin
the performance of mining, chain trading and lightning network is closely related to the price of bitcoin. On the one hand, the rise of bitcoin price acts as a catalyst to stimulate its performance in mining, chain and lightning network; On the other hand, mining, chain trading and lightning network are the important cornerstone of bitcoin price trend and the important basis of bitcoin price expectation<
the right of the editor belongs to the author on May 21, 2019.
apply for reprint and share it with
&< br />< br />
coy Cola
bitcoin
Mining
comments
add comments...
recommended reading
Introction | what is mining< Bitcoin and blockchain are so popular that mining is no longer a new term. Many people agree with bitcoin's article. 123
understanding bitcoin mining in 3 minutes
many people outside the instry don't understand mining, such as hashing, fault tolerance, accounting, and blocking, and finally make a mining, It's all a mystery made by people in the instry. To write this short article is to elaborate several concepts, so that people outside the instry can quickly understand...
yuan Geng's article · 70 agrees with
a brief analysis of the top 20 virtual currencies
BTC bitcoin ranks first in market value, which is known as the "king of ten thousand coins", The article of "digital gold" real...
blockchain deposit · 15 agrees with
three minutes to understand what bitcoin is
1. The money we spend when we go to the center is issued by the national government, and the government and the law are all...
the article of up chain reference · 178 agrees with
what is bitcoin mining
coin 101 will use the most accurate, popular and concise language to introce the relevant basis of blockchain to you...
Dr. Yi's article · 8 agrees with
the difficulty and income calculation of bitcoin mining
foreword recently, we are very concerned about one thing, that is, after the BCC bifurcation, e to the difficulty adjustment and price rise, the miners in order to obtain higher income, He began to move to BCC for mining, but e to the influx of computing power, the next difficulty cycle will increase, and the miners will move to BTC again...
Article 42 of Bibo... Agrees with
the prediction about the collapse time of bitcoin
yesterday, he discussed bitcoin with people, and then suddenly found that the surge brought by the listing of futures may be the pit g by some big institutions, Bitcoin could collapse shortly after CME's CBOE listing. After the listing, the price will maintain a certain stability in a certain range
coincola coying Cola
Global innovative digital asset trading platform
how to use the three technical indicators to understand the rise and fall of bitcoin
6 people agreed with the article
read it for you
4 minutes
recently, "bitcoin broke through $8000" has been on the hot search. For a while, bitcoin rose, reborn rose sharply, and Ethereum led the rise... A week later, this big play dominated by bitcoin didn't seem to come to an end, and the trading volume was once pushed up to 100 billion US dollars
in the investment world, "madness" and "fear" coexist. Today's "madness" stems from last year's long-term "fear". However, this time, coincola Cola Research Institute tracks and analyzes the technical indicators behind the rising market, and deconstructs the "passion" of the market with the "rationality" of data< (1) mining and bitcoin price
start with the relationship between mining and bitcoin. The core technology of bitcoin is "blockchain", which is connected by blocks. Each block corresponds to a bill. All transaction information and transfer records of bitcoin are recorded on the blockchain. Every other point in time, the bitcoin system will generate a random code on the system node. Due to distributed accounting, all computers on the Internet can search for the code. Whoever finds the code will generate a block and then get bitcoin. This process is mining. Calculating this random code requires a lot of GPU operations, so miners need to use mining machines with massive graphics cards to make profits
1. Bitcoin computing power: starting to pick up
remarks: June 2018-may 2019 bitcoin hash value
data source: bitcoin visual, coincola Research Institute
the above figure shows the bitcoin hash value. The hash value of the bitcoin network represents the computing power of the blockchain. The growth of computing power means that miners increase mining investment or increase the number of miners. Since the second half of 2018, the hash value has recovered from falling back to picking up, from 32eh / s at the end of the year to 50eh / s now, and the recent growth trend is remarkable. The continuous growth of bitcoin hash value (representing computing power) indicates that the market is optimistic about the future of bitcoin
2. Mining difficulty: stepped up
remarks: bitcoin difficulty from June 2018 to may 2019
data source: bitcoin visual, coincola Research Institute
the figure above shows bitcoin difficulty. Since 2019, the difficulty of bitcoin mining has increased in a step-by-step manner, from the low 5T to the current 7T. It can be seen that the rapid rise of bitcoin in this round has reced mining costs and increased market entry personnel. The increasing difficulty of mining means that there are profit opportunities in cryptocurrency market, and the market is generally optimistic< (2) the number of active addresses and transactions on the chain are important indicators reflecting the activity of cryptocurrency, which are highly correlated with the price of cryptocurrency
1. The number of active addresses on the bitcoin chain: a straight line rise
remarks: the number of active addresses on the bitcoin chain from June 2018 to may 2019
data source: coinmetrics, coincola Research Institute
active addresses refer to the addresses where transactions have taken place every day, that is, how many independent addresses conct transfer transactions on the chain every day. Since 2019, the number of active addresses on the bitcoin chain has been rising, especially in recent years. From 540.60143k in January to 832.592k now. It shows that the rapid growth of active users of cryptocurrency is a very positive signal for the market
2. The number of transactions on the bitcoin chain: continued to rise
remarks: the number of transactions on the bitcoin chain from June 2018 to may 2019
data source: bitinfo charts, coincola Research Institute
since 2019, the number of transactions on the bitcoin chain has continued to rise, from 235k in early 2019 to 374k now. Moreover, since April and may, after two rounds of sharp rise in the price of bitcoin, the number of transactions on the chain has remained at a high level, even showing signs of a short-term surge< (3) lightning network and bitcoin price
in essence, lightning network adds a layer to the basic layer of bitcoin blockchain in order to make the transaction fast and cheap. With the existence of lightning network, users can remit money to each other at any time and pay very little. Lightning network represents not only the technical level of bitcoin, but also the important basis of bitcoin value
1. Lightning network nodes: rapid growth
remarks: bitcoin lightning network nodes from January 2018 to may 2019
data source: bitinfo charts, coincola Research Institute
the test version of lightning network started on the bitcoin main network on March 15, 2018. The number of lightning network nodes was only 64 at the beginning of 2018 and increased to 2329 at the end of 2018. Since 2019, the number of lightning network nodes has increased rapidly, and now it has reached 4289. In less than half a year, the number of nodes has doubled. The continuous expansion of nodes indicates the continuous upgrading and development of bitcoin lightning network technology, which is an important indicator of bitcoin price
2. Lightning network capacity: speed up
remarks: bitcoin lightning network capacity from January 2018 to may 2019
data source: bitcoin visual, coincola Research Institute
the data above shows that as of May 15, 2019, bitcoin lightning network capacity has increased to 1039 BTC, equivalent to 833usd, while at the beginning of 2019, it is only 504btc, Lightning network capacity doubled, and the growth rate accelerated. This means that the expansion of bitcoin has been well solved in lightning network technology, which will help keep the payment channel active and effectively support the functional application of bitcoin
the performance of mining, chain trading and lightning network is closely related to the price of bitcoin. On the one hand, the rise of bitcoin price acts as a catalyst to stimulate its performance in mining, chain and lightning network; On the other hand, mining, chain trading and lightning network are the important cornerstone of bitcoin price trend and the important basis of bitcoin price expectation<
the right of the editor belongs to the author on May 21, 2019.
apply for reprint and share it with
&< br />< br />
coy Cola
bitcoin
Mining
comments
add comments...
recommended reading
Introction | what is mining< Bitcoin and blockchain are so popular that mining is no longer a new term. Many people agree with bitcoin's article. 123
understanding bitcoin mining in 3 minutes
many people outside the instry don't understand mining, such as hashing, fault tolerance, accounting, and blocking, and finally make a mining, It's all a mystery made by people in the instry. To write this short article is to elaborate several concepts, so that people outside the instry can quickly understand...
yuan Geng's article · 70 agrees with
a brief analysis of the top 20 virtual currencies
BTC bitcoin ranks first in market value, which is known as the "king of ten thousand coins", The article of "digital gold" real...
blockchain deposit · 15 agrees with
three minutes to understand what bitcoin is
1. The money we spend when we go to the center is issued by the national government, and the government and the law are all...
the article of up chain reference · 178 agrees with
what is bitcoin mining
coin 101 will use the most accurate, popular and concise language to introce the relevant basis of blockchain to you...
Dr. Yi's article · 8 agrees with
the difficulty and income calculation of bitcoin mining
foreword recently, we are very concerned about one thing, that is, after the BCC bifurcation, e to the difficulty adjustment and price rise, the miners in order to obtain higher income, He began to move to BCC for mining, but e to the influx of computing power, the next difficulty cycle will increase, and the miners will move to BTC again...
Article 42 of Bibo... Agrees with
the prediction about the collapse time of bitcoin
yesterday, he discussed bitcoin with people, and then suddenly found that the surge brought by the listing of futures may be the pit g by some big institutions, Bitcoin could collapse shortly after CME's CBOE listing. After the listing, the price will maintain a certain stability in a certain range
3. EOS's vision is to become a public chain that can run a large number of commercial applications, and its core feature is "commercial"
in order to ensure decentralization and security, current public chain projects such as bitcoin and Ethereum have certain limitations in block scalability. Although the introction of Ethereum's smart contract has greatly enriched the application of blockchain, it also reces the threshold of issuing coins, making Ethereum's network very congested. Many existing public chains have the problems of slow network transfer speed, high cost, low concurrency or poor stability, which can not support the operation of real large-scale commercial applications
according to the white paper of EOS, EOS adopts the graphene block chain architecture, and the bft-dpos consensus mechanism reces the number of verification nodes, but makes the scalability of EOS significantly enhanced, and can support fast transaction processing speed. At present, bitcoin system can transfer about 7 times per second, while Ethereum can transfer 15 times per second; In contrast, EOS's white paper says it is expected to reach a million level TPS in the future
in addition, EOS provides a good development environment for users and developers. The transaction on EOS network does not need to charge service charge, which improves the user experience and makes it easier to attract users; EOS provides developers with a friendly underlying mole, which can support a variety of programming languages and rece the difficulty of DAPP development. Developers can focus more on the function implementation of the developed application.
in order to ensure decentralization and security, current public chain projects such as bitcoin and Ethereum have certain limitations in block scalability. Although the introction of Ethereum's smart contract has greatly enriched the application of blockchain, it also reces the threshold of issuing coins, making Ethereum's network very congested. Many existing public chains have the problems of slow network transfer speed, high cost, low concurrency or poor stability, which can not support the operation of real large-scale commercial applications
according to the white paper of EOS, EOS adopts the graphene block chain architecture, and the bft-dpos consensus mechanism reces the number of verification nodes, but makes the scalability of EOS significantly enhanced, and can support fast transaction processing speed. At present, bitcoin system can transfer about 7 times per second, while Ethereum can transfer 15 times per second; In contrast, EOS's white paper says it is expected to reach a million level TPS in the future
in addition, EOS provides a good development environment for users and developers. The transaction on EOS network does not need to charge service charge, which improves the user experience and makes it easier to attract users; EOS provides developers with a friendly underlying mole, which can support a variety of programming languages and rece the difficulty of DAPP development. Developers can focus more on the function implementation of the developed application.
4. Xiaoyi blockchain, laikelib and many others seem to be very successful.
5.
The 
Ethereum mining
Berlin hard fork will mark the end of the metropolitan era. This is a key stage in Ethereum's history, which is divided into two stages (Byzantine and Constantinople), including several branches, including Atlantis, Istanbul, and finally reached its peak in Berlin
6. In non small brands, XRP is very considerable in terms of market value and quantity. It is also recommended that you use a non trumpet to observe the latest situation.
7. The central bank has not issued any virtual currency
those issued by other institutions are illegal and not protected by law.
those issued by other institutions are illegal and not protected by law.
8. Don't invest in air money. The state has experimented with the shipment of electronic currency. All the coins you mentioned belong to the currency issued by your own company. The currency is valid only if it is issued by the state
Hot content