After the Ethereum Dao incident

1.

There is an essential difference between Ethereum and bitcoin. What is the difference? Bitcoin defines a set of currency system, while Ethereum focuses on building a main chain (which can be understood as a road) to allow a large number of blockchain applications to run on this road

from this point of view, Ethereum's application scenarios are more extensive, which is why we say that Ethereum marks a simple monetary system in the era of blockchain

1.0, and a transformation to other instries and application scenarios in the era of blockchain 2.0

however, there is no perfect thing in the world. Although Ethereum has expanded the application scope of blockchain in all walks of life and improved the speed of transaction processing, it also has some disputes and doubts

first, the solution to the lack of scalability of Ethereum: slicing technology and lightning network

the bottom design of Ethereum, the biggest problem is that Ethereum has only one chain and no side chain, which means that all programs have to run on this chain equally, consuming resources and causing system congestion. Just like last year's very popular Ethereum game "encryption cat", when this game was very popular, it once caused Ethereum network paralysis

to improve the processing capacity, Ethereum proposes two ways: shard and lightning network. Let's introce these two technologies respectively

(1) fragmentation technology

vitalik buterin, founder of Ethereum, believes that the reason why mainstream blockchain networks such as bitcoin process transactions very slowly is that every miner has to process every transaction in the whole network, which is actually very inefficient. The idea of fragmentation technology is: a transaction does not need to be processed by all nodes in the whole network, as long as some nodes (miners) in the network are allowed to process it. Therefore, Ethereum network is divided into many pieces. At the same time, each piece can handle different transactions. In this way, the network performance will be greatly improved

however, the slicing technology is also controversial. As we all know, the important idea of blockchain technology is decentralization. Only when the whole network witnesses (processes) the same transaction can it have the highest authority. The Ethereum slicing technology is similar to the group witness, not all nodes witness together. In this way, it will lose the absolute "decentralization" attribute, and can only achieve the purpose of high performance by sacrificing certain characteristics of decentralization

(2) lightning network

lightning network uses the way of transaction under the chain. What does that mean? It means: when the participants of lightning network transfer money to each other, they do not need to confirm the transaction through the main chain of Ethereum, but create a payment channel between the participants and complete it under the chain

however, lightning network is not separated from the main chain. Before establishing a payment channel, you need to use the assets on the main chain as collateral to generate a balance proof, which indicates that you can transfer the corresponding balance. In the case that both parties of the transaction hold the balance certificate, both parties can make unlimited number of transfers under the chain through the payment channel

only when the off chain transaction is completed and the assets need to be transferred back to the chain, the balance change information of the main chain account will be registered on the Ethereum main chain, and no matter how many transactions occur ring this period, there will be no record on the main chain

another real benefit of lightning network is that it can save the cost of miners for you. At present, when we trade on the main chain of Ethereum, we need to consume gas and pay for miners. Once we move the transaction to the lower chain, we can save this part of the cost

Of course, lightning network is not perfect. When using the lightning network, the assets on the main chain should be used as collateral; And this part of assets as collateral can not be used before the user completes the transaction under the chain. This also determines that lightning trading is only suitable for small transactions

the above is the problem of insufficient scalability of Ethereum, as well as the two main solutions: fragmentation technology and lightning network

Second, there are loopholes in Ethereum's smart contract and the infamous Dao event

Ethereum's smart contract is very powerful, but there are loopholes in any code. The biggest controversy of Ethereum's smart contract lies in the so-called loopholes, that is, security issues. According to relevant research, 34200 (about 3%) of the nearly 1 million smart contracts based on Ethereum contain security vulnerabilities, which will allow hackers to steal eth, freeze assets or delete contracts, such as the infamous Dao incident

(1) what does Dao mean

before introcing the Dao event, let's first introce what Dao is. Dao is the abbreviation of decentralized

autonomous organization, which can be understood as decentralized autonomous organization. From the perspective of Ethereum, Dao is a kind of contract or a combination of contracts on the blockchain, which is used to replace the government's review and complex intermediate proceres, so as to achieve an efficient and decentralized trust system. Therefore, Dao is not a specific organization, that is to say, there can be many Dao, all kinds of Dao

(2) the infamous Dao event

however, when we talk about Dao now, we basically refer to the Dao event, that is, the infamous hacker attack event we just mentioned. As we know, the English word "the" refers to "the Dao event". The Dao event

refers to "the Dao event", because we just said that Dao is not a specific organization, there can be many Dao, all kinds of Dao

in 2016, slock.it, a German company focusing on "smart locks", launched the Dao project on Ethereum in order to realize decentralized physical exchange (such as apartments and ships). Since April 30, 2016, the financing window has been open for 28 days

unexpectedly, this Dao project is very popular. It raised more than US $100 million in just half a month. By the end of the whole financing period, it raised a total of US $150 million. Therefore, it has become the largest crowdfunding project in history. However, it didn't last long. In June, hackers took advantage of the loopholes in the smart contract to successfully transfer more than 3.6 million Ethernet coins and put them into a Dao sub organization, which has the same structure as the Dao. At that time, the price of Ethernet currency fell directly from more than $20 to less than $13

this event shows that there are loopholes in smart contracts, and once the loopholes are exploited by hackers, the consequences will be very serious. This is why many people criticize Ethereum and say that its smart contract is not smart

to solve this problem, many foreign companies begin to provide code audit services in order to solve the vulnerability problem of smart contract. From a technical point of view, some teams are currently testing smart contracts. Most of these teams are led by professors from Harvard, Stanford and Yale, and some of them have obtained investment from leading institutions

in addition to the problems of insufficient expansibility and loopholes in smart contracts, the controversy over Ethereum lies in the POS consensus mechanism it pursues, that is, the proof of equity mechanism. Under the proof of equity mechanism, if anyone holds more money and holds it for a longer time, he will get more "rights" (interests) and have the opportunity to get bookkeeping power, Bookkeeping can also be rewarded. In this way, it is easy to create the oligarchic advantage of "the stronger the stronger"

Another problem is the chaos of ICO. ICO is a common way to raise funds for blockchain projects, which we can understand as pre-sale. The outbreak of ICO projects on Ethereum has caused illegal activities such as fund allocation and money fraud under the banner of ICO, which has caused security risks to social and financial stability

2. 1. What is the ether classic<

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

3.

The idea of Ethereum was born in 2013. Vitalik buterin ˙ When he was a programmer in the bitcoin community, he suggested to the core developers of bitcoin to develop a language for application developers to facilitate the development of various applications. Bitcoin core developers disagree. So God V decided to develop a new platform for this purpose

V God wrote the white paper of etheric currency in 2013, in which he explained the goal of building a decentralized program. In 2014, we got development funds through crowdfunding, so we developed the Ethernet system< (better digital currency trading platform "currency exchange")

since its birth, it has carried out four hard bifurcations so far

for the first time, in order to adjust the difficulty

released a stable version of "homeland" for the second time

for the fourth time, in order to prevent DDoS and rece weight

there is only the third hard fork, because of the hacker attack, and forced to fork. This is the Dao event

On July 30, 2015, v-god and Ethereum Foundation created the first smart contract platform and designed the Dao Ethereum contract

on April 30, 2016, the Dao smart contract was officially deployed, and the world's largest crowdfunding was completed, reaching an amazing $150 million As an aside, the biggest crowdfunding event in time is EOS crowdfunding, which has reached an even more amazing $5 billion!)

on June 17, 2016, the Dao was attacked by hackers, who stole about 50 million US dollars of Ethernet currency, and the price also plummeted from US $20 to US $15, causing great harm to Ethereum. In order to recover the loss of investors, the community finally decided to hard fork

therefore, on July 20, 2016, at the block height of 1920000, the hard branching was successful, and the new chain is called Ethereum eth, while the original chain is now Ethereum classic etc

4. Ethereum is a kind of virtual currency, fire money network is operating virtual currency, also operating Ethereum, this is the relationship.

5. There are patches
this problem is actually very simple
your graphics card is OK! But the vertical synchronization of the graphics card is not off, so the FPS is very low. You can turn off the vertical synchronization in the properties of the graphics card
it must be this problem
the properties of the graphics card can be found by right clicking on the desktop, and then properties - Settings - Advanced<

vertical synchronization is off
in the 3D settings of the graphics card

6. Careful investment, if you are in some stock exchange group to see other people's earnings, you must pay attention, it is likely to be a fraud. Generally, there are two forms of digital currency scams. One is air currency, which is issued first. As you say, just like new shares, how rare and how many relationships do you need to buy, how many times do you need to buy it, and how many times do you need to buy it, and so on. Some people will print screenshots. These are all analog forms. Moreover, there is a lock up period for buying, so the basic money can't be put forward. There is also a form of trading with leverage, which is the same as futures. You can make a lot of money, or you can burst your position in an instant, making you lose all your money. If you don't invest more than one million assets, don't dream of making a fortune, or you won't even know what's going on.

7. The "blockchain +" financial technology instry incubation center of Guangdong financial hi tech Zone is located in the south of Foshan City. It has comprehensive guidance application scenarios, such as project investment and financing, to promote the transformation and application of technological achievements.

8. Is it the Huang incident? At 9:55 on August 12, 1989, the No.5 concrete oil tank with 23000 cubic meters of crude oil in the old tank farm of Shengli oil transportation company of Shengli Oil Transportation Bureau of China National Petroleum Corporation exploded and caught fire. It burned 104 hours before and after the fire, burned more than 40000 cubic meters of crude oil, and burned all the facilities in the old tank farm and proction area covering an area of 250 mu. This accident caused a direct economic loss of 35.4 million yuan. During the fire fighting and rescue, 10 fire engines were burned down, 19 people died and more than 100 people were injured. Among them, 14 were killed and 85 were injured< Basic information: Huang Oil Depot was founded in 1973. Crude oil from Shengli Oilfield was transported to Huang Oil Depot through Dongying Huang long pipeline, and then shipped to other places by Qing Port Bureau. Huang Oil Depot has a crude oil storage capacity of 760000 cubic meters and a refined oil storage capacity of 60000 cubic meters. It is one of the three seaports dedicated for oil transportation in China< At 9:55 on August 12, the No.5 concrete oil tank with 23000 cubic meters of crude oil suddenly exploded and caught fire. By 2:35 p.m., there was a northwest wind in Qing. The wind force increased to force 4 or above, and the flame with a height of several hundred meters tilted to the southeast. After burning for more than 4 hours, the crude oil in No. 5 tank will evaporate and burn with the light oil fraction, forming a heat wave with a speed of about 1.5 meters per hour and a temperature of 150-300 degrees, which will be transmitted to the lower part of the reservoir. When the heat wave reaches the water level at the bottom of the tank, the water at the bottom of the tank, the emulsified water in the crude oil, and the water vaporized in the foam when the fire is extinguishing, makes the crude oil boil over and spray into the air and scatter to the surrounding ground. At about 3 pm, the splashing oil fire ignited the leaking oil and gas layer on the top of another No. 4 oil tank with the same structure, which was located 37 meters away from No. 5 oil tank in the direction of Dongfu, causing an explosion. The top of No. 1, No. 2 and No. 3 metal oil tanks were cracked by the blown up concrete fragments on the top of No. 4 tank, resulting in oil and gas leakage. About one minute later, the oil fire splashed from No. 5 tank ignited the leakage gas of No. 3, No. 2 and No. 1 tank, causing deflagration, and the whole old tank farm fell into a sea of fire. Runaway spilled oil flows around the ground like lava from a volcano. The fire was divided into three streams. Part of the oil fire went over the 1-meter-high low wall on the north side of No. 5 tank and entered around No. 1, No. 2 and No. 6 floating roof metal tanks in the new tank farm with 300000 cubic meters of oil storage capacity and a full set of imported Japanese technology and equipment. The fire and smoke blackened 3 tank walls, and the heat insulation steel plate of No. 2 tank wall was quickly burned red. The other part of the oil fire flows along the underground pipe trench and converges with the spilled crude oil of the oil pipeline network to form the underground fire network. There is also a part of oil fire burning to the north, from the fire pump room in the proction area to the garage, laboratory and boiler room, and to the east from the substation to the loading pump room, metering station and heating furnace. A sea of fire swept through the whole proction area. The two roads of East Road and North Road merged into one road, burned through the gate of No. 1 oil depot, and burned along Xingang highway to Huang Oil Port, which is located in the lower part. The fire affected Qing chemical import and export Huang Branch, No.2 navigation company, Huang Commodity Inspection Bureau, Pipeline Bureau warehouse, port construction headquarters warehouse and other units. Around 18 o'clock, part of the spilled crude oil flowed into Jiaozhou Bay along the surface pipe ditch and low-lying road. About 600 tons of oil and water formed several pollution zones more than ten nautical miles long and several hundred meters wide in the sea surface of Jiaozhou Bay, causing the most serious marine pollution in the history of Jiaozhou Bay.

9. The history of cryptocurrency can be viewed from 2008, such as the origin of bitcoin, Ethereum, smart contract, Dao event, exchange, etc

10. I think so too!