Ethereum's two fatal problems

1.

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"

2.

1. about the variability of blockchain

2. eth, if most people agree to modify the chain, that is, variability, then they can modify the blockchain records and contracts

3. etc, blockchain records and contracts can't be modified, that is, they can't be tampered with

4. here are the advantages and disadvantages of the two methods

   The advantage of

5. variability is that people can make timely changes to make the right decisions. Therefore, modifying the specification is more practical than finding loopholes

6. 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

7. differences in development

8. 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

9. etc, the decision-making of blockchain is mainly decided by the feedback of three loose, collaborative teams with community participation

10. 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

11. about compatibility

12. 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

13. 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

14. etc focuses on making developers create more secure contracts, such as viper, iohk research, at the cost of consuming the number of potential developers

15. 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

16. about the transaction speed

17. eth, the average is 25 seconds, which will be shortened after upgrading

18. etc, with an average time of 14 seconds, maintained at 10-14 seconds after upgrade, according to ecip-1010 and ecip-1036 protocols

19. about the block capacity

20. 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

21. 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

22. about community

23. eth, mainly discuss on reddit

24. etc, mainly discuss on slack

25. about monetary policy

26. eth, the planned supply is growing steadily, resulting in an average inflation of 3% in eth blockchain in its life cycle

27. 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

28. etc owns etc trading trust, which allows investors to own etc instead of the asset itself

3. 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

4. Bitcoin and Ethereum are both digital currencies. Bitcoin ranks first in market value, followed by Ethereum. After registering with the bitnet exchange, you can invest in them.

5. You can check the market of Ethereum on non trumpet, but you can't trade it. The trend of Ethereum in the past two years can be described as from heaven to hell, with a very large decline. If you want to invest, you can go to the digital currency exchange. At present, the mainstream digital currency trading in the market includes coin security, fire coin network, bitnet, etc.

6. Whether a currency is counterfeit depends on whether it meets the basic characteristics of blockchain. Blockchain is divided into public chain and private chain. The public chain is a block chain based on the principle of decentralized open consensus, which has two characteristics: 1. Decentralized, single point can not be controlled; 2; 2. Open, all people or institutions can participate in any part of the blockchain ecology; Private chain or alliance chain is a local decentralized and non open block chain based on internal or self trust. It has two characteristics: 1. Local decentralization. For example, several banks run one node and have equal computing power; 2. In closed operation, only officially designated participants can participate in the core work of blockchain operation, and even block queries are limited or not open to the outside world at all; Ethereum started as a community project and is still on the road of decentralization. However, Ethereum chooses to become more and more decentralized and public chain like bitcoin. At present, Qube is the largest trading platform of Ethereum in China, followed by oke, and the trading volume of bitmex abroad is not small. Its recognition is second only to BTC.

7. On August 1, 2017, bitcoin cash (BCC), a new blockchain asset based on the original bitcoin chain, was born, which became a hot topic in the streets. The city once exceeded US $7 billion, becoming a digital currency second only to bitcoin and Ethereum
in this process, bitcoin cash also tries its best to ride a roller coaster, which reminds people of Ethereum classic. Comparing bitcoin cash with Ethereum classic, will bitcoin cash become the next bitcoin classic
their similarities are all e to different concepts. A new type of blockchain asset, which is proced by a hard fork, has been separated from the main chain and has gone to an independent development path. They have also experienced price roller coaster fluctuations. They have inherited the mantle of the original chain and changed little. But there are also many differences:
1. Different backgrounds:
in June 2016, the Dao, the world's largest Ethereum project, was stolen from 3.6 million ethereums, with the direct market value as high as US $60 million, which was fatal to the Ethereum community just starting at that time. Vitalik buterin, the founder, and most of the community think that this can't be done. The community decided to roll back the Ethereum transaction through online voting. A small number of people in the Ethereum community think that this violates the irreversible principle of the blockchain and is a violation of the rules. They continue to adhere to the development of the original Ethereum chain, and the Ethereum classic is born and goes to the road of independent development<

bitcoin cash is the proct of the three-year debate over bitcoin expansion. On the one hand, some community members and developers who insist on large blocks are tired of endless debates. Although the New York consensus on community consensus scheme has won a phased victory, the future is still uncertain, and supporters of large blocks hope to move towards an independent development path; On the other hand, the community support rate of large blocks is also very high. Although the Bu expansion scheme often appears bugs, it still gets 40% of the computing power support of the whole network. Bitcoin cash is born out of the Bu expansion scheme, which continues the original intention of Nakamoto's design of bitcoin and makes certain changes in technology. It is a new technology attempt. In this context, bitcoin cash came into being to adapt to the development trend of the times
2. Different attention and influence
the predecessor of bitcoin cash is bitcoin, the Ruan Sheng brothers of bitcoin, and bitcoin is the global digital currency hegemony. After the separation of bitcoin from cash and main chain, bitcoin and bitcoin have taken different development paths. Bitcoin cash can be said to be born with the golden key. As soon as it comes out, it has won extensive attention from the community and become the focus of community discussion. News is flying all over the world, and many mainstream trading platforms at home and abroad also choose to support it. After a short period of adjustment, the price graally returned to rationality. The municipal government once ranked in the top three and still ranks in the fourth
Ethereum is the predecessor of Ethereum classic. Ethereum only ranked second in the global digital currency this year. In 2016, its popularity and community influence were not too high. The Ethereum classic split out is not optimistic by the community. There are few online platforms, and the price is plummeting all the way. The attention and influence of Ethereum classic in the community has not been high. The Municipal People's government has been unable to enter the top ten. There are no opportunities for community discussion and media attention. After several rounds of outbreak, the Municipal People's government has only ranked ninth
to sum up, bitcoin cash and Ethereum classics are different in terms of attention, community influence and historical background. The future development of bitcoin cash will be better. If the bitcoin community is still in constant infighting, does not want to make progress and refuses to change, bitcoin cash will have a chance to shake the dominant position of bitcoin, Instead.

8. The bifurcation of Ethereum Constantinople is about to begin. Many people are curious about this bifurcation and are not sure whether they need to be prepared in advance
to put it simply: if you are only the holder of eth, you don't need to make any preparation for this upgrade.

9. This number is not fixed, because the price of bitcoin is constantly changing. The highest price of bitcoin is more than $19000. At present, the price of bitcoin is around $4000. You can log in to the bitcoin exchange to view the bitcoin market in real time.