Big guys who are not optimistic about virtual currency
Publish: 2021-04-30 23:35:57
1.
Who is Nakamoto? Why are people so curious about him? This person, who calls himself Nakamoto Tsung, said that he lost his bitcoin, not one or two, but a lot. What does 980000 bitcoins mean
so we should take a calm attitude towards bitcoin
so far, no one knows the true face of this Nakamoto. Even his so-called 980000 bitcoins are skeptical
because, generally, people who are really rich are disdainful of showing off their wealth
2. Speculators' paradise
3. Compared with other payment instruments, digital RMB has two advantages. One is the advantage of relying on the political authority; It's a technical advantage to take off the deal. It can replace cash in circulation, which will certainly speed up the process of cash
on the other hand, with the rapid development of mathematical economy, people generally pay attention to whether virtual currency will enter the popular payment and transaction scene.
on the other hand, with the rapid development of mathematical economy, people generally pay attention to whether virtual currency will enter the popular payment and transaction scene.
4. There are no more than the following kinds of people touting virtual currency:
the first kind is the big guy who pretends to be confused. They boast about the greatness of virtual currency, in fact, just to sell their own coins, and then make their wealth more and more. This is the same reason that Mimeng's articles incite emotions. It's just to let people read more of her articles to sell advertisements. As for whether it is true or not, who cares
the second kind of people is the media outside the circle. In fact, they don't know anything. The purpose of their blowing together is to bring traffic. It's all for sale. It's just different. They follow together to brag, will have more traffic attention, advertising can be more valuable. If the business is not good, change the vest and continue. That's what we media and finance are doing now. True or false is not so important, the important thing is to bring them income, which is enough
the third kind of person is the leek of coin circle. In fact, they don't have the ability to think independently. They are superstitious in aura. They watch the big guys and the media blow, and then they really believe in it. They also blow,,,, and then they are the ones who take over. It is commonly known as "no brain blowing, no brain blowing". It lacks the ability of independent thinking, and does not carefully analyze things. It is respect to blow first and respect to blow first. Blind, therefore, only then dish's life.
the first kind is the big guy who pretends to be confused. They boast about the greatness of virtual currency, in fact, just to sell their own coins, and then make their wealth more and more. This is the same reason that Mimeng's articles incite emotions. It's just to let people read more of her articles to sell advertisements. As for whether it is true or not, who cares
the second kind of people is the media outside the circle. In fact, they don't know anything. The purpose of their blowing together is to bring traffic. It's all for sale. It's just different. They follow together to brag, will have more traffic attention, advertising can be more valuable. If the business is not good, change the vest and continue. That's what we media and finance are doing now. True or false is not so important, the important thing is to bring them income, which is enough
the third kind of person is the leek of coin circle. In fact, they don't have the ability to think independently. They are superstitious in aura. They watch the big guys and the media blow, and then they really believe in it. They also blow,,,, and then they are the ones who take over. It is commonly known as "no brain blowing, no brain blowing". It lacks the ability of independent thinking, and does not carefully analyze things. It is respect to blow first and respect to blow first. Blind, therefore, only then dish's life.
5.
The blockchain escorted by history and philosophy has not subverted other instries, but its habitat has been subverted first
the standard bearers in the coin circle have already "transferred" to foreign countries, such as Zhao CHANGPENG, the founder of coin an, He Yi, Xue Manzi and Bao Erye
The best destination is Japan. At the same time, a news that dozens of people in the coin circle have been controlled by the frontier began to spread among people in the circle The next resident in Japan is Zhao CHANGPENG, founder of coin an, Xue Manzi, who also visited his office6.
People who are familiar with the coin circle can be described as thundering with the name of Li Xiaolai. In the instry, he is known as & quot; The richest man in bitcoin;, The most well-known story is that before bitcoin became popular, he bought 100000 bitcoins. Now his personal value is conservatively estimated to have exceeded 7 billion yuan, which is the envy of everyone. However, in my opinion, his most admirable is his precise investment vision
After
, he also published many books, which are well-known in the instry. In fact, the popularity of bitcoin has warmed up a lot recently. Compared with the price of tens of thousands of dollars, according to the latest data, the value of a bitcoin is about $9500. If it is the investors who buy at a high price, they should lose a lot of money now< Summary: Li Xiaolai's success is closely related to his precise investment vision. When no one was optimistic about the development of bitcoin in those years, he had foreseen that this form of virtual currency would become the target of many people's pursuit in the future, and even the mining for it. After all that, what other well-known virtual currencies do you know besides bitcoin? Welcome to share and discuss in the message area. The change of science and technology and the progress of the times, I will be with you< br />
7. Views on virtual currency
from q-coin and counting roll used to buy props to bitcoin which can be exchanged with us dollar and euro today. It shows that the utilization rate and universality of virtual currency are graally increasing. I think this kind of virtual currency has both advantages and disadvantages. Virtual currency makes up for the deficiency of currency, but it will not replace the real currency
1. Security of virtual currency. The day before yesterday, a bitcoin trading platform headquartered in Japan was favored by many people. However, e to the loss of 750000 bitcoins from customers and 100000 bitcoins of its own, the company had to file for bankruptcy protection. This fully shows that the security of virtual currency is difficult to guarantee
2. The use of money cannot be regulated. The problem is that there is no manager similar to the central bank. Due to the strong anonymity, it is easy to be used for illegal transactions such as speculation and drugs, as well as money laundering. Without the network of financial institutions, it is difficult to grasp their liquidity, which will bring difficulties to taxation
although it has many uncertainties, virtual currency is very effective and reliable to a certain extent
1. The possibility of inflation of virtual currency is small, and it is not affected by policy. Avoiding the influence of the central government on finance, virtual currency can prove the stability of its value because of its limited circulation. It will not raise prices and lower the value of money because of the increase of money supply
2. Strong circulation. People can use bitcoin to trade anywhere in the world where there are networks and computers, which is very convenient
it not only saves time, but also saves a lot of transaction costs
after comparison, I think that the virtual currency will be saturated and will not pose a threat to the real currency. On the one hand, in the backward regions and countries, they rely more on currency, resulting in a gap with the developed regions. On the other hand, with the development of network technology, the security of virtual currency will be more and more difficult to determine. It is also very difficult for people to use a lot of money in the form of virtual currency in huge investment. Especially in a country with traditional culture such as China, people are more confident that they will hand over their property to the financial instry such as banks, rather than in the online world like flowers in the mirror< There is no comparability between bitcoin and stock. Stock is people's profit expectation for a company. For example, a company constantly proces new procts to increase its wealth. People can obtain wealth growth with the company by holding shares of the company. And the stock is an investment proct, without monetary attribute, it is impossible to say how much ICBC stock an iPad is worth. On the contrary, like bitcoin, the stock can be converted into legal currency through the exchange to purchase the iPad. Similarly, in the so-called companies that accept bitcoin payment, all of them are marked with legal currency. They accept bitcoin through a third-party company, and finally receive legal currency from a third-party company
therefore, stock is people's expectation for the future development of a company, and it is an investment proct. There is no comparison with bitcoin, which clamors to become a currency
2. The existence of money lies in circulation and pricing. A thing that has been reced to a speculative tool since its existence, expecting appreciation and redistributing wealth can not become money
3. As cndx God said, bitcoin will have 2.0 in the future, which will be seamlessly connected with 1.0. That's funny. Why should the inventor of 2.0 connect with 1.0? Just as bitcoin does not connect with RMB, it is another opportunity for wealth redistribution
4. The existence of virtual currency can only meet the money laundering needs of a small number of people, so there is a market. For example, if someone wants to launder US $1 million recently, the ratio of bitcoin to legal currency will change, which is also in line with the market rules. Of course, money laundering is risky. If you buy one million dollars of bitcoin, you will hold it forever without losing any money
5. My legal currency is in the bank. If I lose it, I can still get it back with my ID card. Is my bitcoin password gone? Who should I go to
6. The currency expected by cndx will not be lost. At most, it will play in a certain circle just like Q currency
7. This thing is the proct of anarchism. If you want to embody value, you can only do it without government. The distribution of wealth depends on power and blood. For example, if you hold 10000 bitcoins, ZF says not to use them, and you say I'll use them. Bang, you're dead. Oh, bitcoin has appreciated again, because the total amount is less than 10000.
from q-coin and counting roll used to buy props to bitcoin which can be exchanged with us dollar and euro today. It shows that the utilization rate and universality of virtual currency are graally increasing. I think this kind of virtual currency has both advantages and disadvantages. Virtual currency makes up for the deficiency of currency, but it will not replace the real currency
1. Security of virtual currency. The day before yesterday, a bitcoin trading platform headquartered in Japan was favored by many people. However, e to the loss of 750000 bitcoins from customers and 100000 bitcoins of its own, the company had to file for bankruptcy protection. This fully shows that the security of virtual currency is difficult to guarantee
2. The use of money cannot be regulated. The problem is that there is no manager similar to the central bank. Due to the strong anonymity, it is easy to be used for illegal transactions such as speculation and drugs, as well as money laundering. Without the network of financial institutions, it is difficult to grasp their liquidity, which will bring difficulties to taxation
although it has many uncertainties, virtual currency is very effective and reliable to a certain extent
1. The possibility of inflation of virtual currency is small, and it is not affected by policy. Avoiding the influence of the central government on finance, virtual currency can prove the stability of its value because of its limited circulation. It will not raise prices and lower the value of money because of the increase of money supply
2. Strong circulation. People can use bitcoin to trade anywhere in the world where there are networks and computers, which is very convenient
it not only saves time, but also saves a lot of transaction costs
after comparison, I think that the virtual currency will be saturated and will not pose a threat to the real currency. On the one hand, in the backward regions and countries, they rely more on currency, resulting in a gap with the developed regions. On the other hand, with the development of network technology, the security of virtual currency will be more and more difficult to determine. It is also very difficult for people to use a lot of money in the form of virtual currency in huge investment. Especially in a country with traditional culture such as China, people are more confident that they will hand over their property to the financial instry such as banks, rather than in the online world like flowers in the mirror< There is no comparability between bitcoin and stock. Stock is people's profit expectation for a company. For example, a company constantly proces new procts to increase its wealth. People can obtain wealth growth with the company by holding shares of the company. And the stock is an investment proct, without monetary attribute, it is impossible to say how much ICBC stock an iPad is worth. On the contrary, like bitcoin, the stock can be converted into legal currency through the exchange to purchase the iPad. Similarly, in the so-called companies that accept bitcoin payment, all of them are marked with legal currency. They accept bitcoin through a third-party company, and finally receive legal currency from a third-party company
therefore, stock is people's expectation for the future development of a company, and it is an investment proct. There is no comparison with bitcoin, which clamors to become a currency
2. The existence of money lies in circulation and pricing. A thing that has been reced to a speculative tool since its existence, expecting appreciation and redistributing wealth can not become money
3. As cndx God said, bitcoin will have 2.0 in the future, which will be seamlessly connected with 1.0. That's funny. Why should the inventor of 2.0 connect with 1.0? Just as bitcoin does not connect with RMB, it is another opportunity for wealth redistribution
4. The existence of virtual currency can only meet the money laundering needs of a small number of people, so there is a market. For example, if someone wants to launder US $1 million recently, the ratio of bitcoin to legal currency will change, which is also in line with the market rules. Of course, money laundering is risky. If you buy one million dollars of bitcoin, you will hold it forever without losing any money
5. My legal currency is in the bank. If I lose it, I can still get it back with my ID card. Is my bitcoin password gone? Who should I go to
6. The currency expected by cndx will not be lost. At most, it will play in a certain circle just like Q currency
7. This thing is the proct of anarchism. If you want to embody value, you can only do it without government. The distribution of wealth depends on power and blood. For example, if you hold 10000 bitcoins, ZF says not to use them, and you say I'll use them. Bang, you're dead. Oh, bitcoin has appreciated again, because the total amount is less than 10000.
8. As long as you work hard to make money, it will come true one day
9. 1. Technical support of borderless system
1) efficient and scalable performance
borderless system realizes over 100000 times / s batch transfer
high performance blockchain technology is necessary for cryptocurrency and smart contract platform, and can provide a solution that may replace the existing financial platform for the instry. In order to be able to process more transactions per second than visa and MasterCard, unbounded redesign starts from the bottom. Through the share authorization mechanism, the unbounded network can confirm more than 100000 transfer transactions in an average of one second
overview of borderless system architecture. The Lmax can process up to 6 million transactions per second. The key point of unbounded learning from its technology, As follows:
A) put everything in memory
b) put the core business logic in a single thread
C) put the encryption algorithm operation (hash and signature) outside the core business logic
d) divide the verification operation into state independent and state dependent checking
e) use an object-oriented data model
by following these simple rules, Unbounded can process 100000 transfers per second without disruptive optimization. If there is further optimization work, unbounded can achieve the performance similar to that of Lmax exchange (i.e. 6 million times per second). It should be noted that unbounded performance is highly dependent on one of the compatible transaction protocols. If you want to use business logic to run on a virtual machine that operates encryption algorithm and calls all objects with hash identifier, it is impossible to achieve the same level of performance. Blockchain is inherently single threaded, and the performance of single core CPU is one of the most scarce and difficult to expand. Unbounded technical logic can make the single thread execution highly efficient
endorsement of core business of borderless system
blockchain is a global account book that determines to modify a shared global state transaction. The orders contained in these transactions can change the validity of other transactions. For example, you cannot withdraw money from your bank account before the deposit of your check takes effect. You can't know if a transaction is valid until all previous transactions that can affect a particular account are processed. If two unrelated accounts do not share any common dependency, theoretically, the transactions between the two accounts can be processed at the same time. In fact, it's tricky to identify which transactions are truly independent on a smart contract driven ledger with arbitration conditions. The only way to ensure that the two transactions are truly independent is by maintaining a completely separate ledger and then transferring value between them on a regular basis. If we want to use this kind of performance tradeoff to compare, it can be like the relationship between non-uniform memory access (NUMA) and uniform memory access (UMA). In fact, the consistent memory access architecture is easier for developers to design, and the cost is lower. Inconsistent memory access architecture is usually used as a last resort when building supercomputers and large computer clusters. The computer instry has graally realized that it is not as easy to achieve performance expansion through parallel computing as it was in the early days. After all, the most important thing to do at that time was to increase the frequency of the processor. It is for this reason that processor designers are trying to improve the performance of single thread before trying to use multi thread settings. When multithreading is not enough, and only in this way, cluster computing will be considered
many people in the cryptocurrency instry try to solve the problem of scalability by cluster computing before exploring what can be achieved by a single core of a computer technically
2) Lmax disruptor decomposer technology
Lmax decomposer provides a learning example of what can be achieved on a single thread. Lmax is a trading platform for end customers with the goal of becoming the fastest exchange in the world. They have been very generous in publishing what they have learned<
overview of Lmax architecture:
business logic processor is where all sequential transactions and order matching occur. It is a single thread that can process millions of orders per second. This architecture can be easily used in the field of cryptocurrency and blockchain design. The role of the input resolver is to collect orders from many users from different sources and assign them to a certain order. When the order is assigned to them, they are copied, recorded and broadcast to many rendant business logic processors. The input resolver is highly parallel and can be easily sub contracted into a computer cluster system. When the business logic processor has finished processing the input, an output resolver is responsible for informing those who care about the result. This is also a highly parallel task. Finally, by using a single threaded sample processor and Java virtual machine in the business logic processor, Lmax can execute 6 million transactions per second. If Lmax can achieve this goal, then cryptocurrency and smart contract platform do not need to consider the cluster network solution under the condition of less than 10 transactions per second. High performance blockchain
to build a high-performance blockchain, we need to use the same technology as Lmax. Here are a few things that must be done: put everything in memory, avoid synchronization primitives (locking, atomic operations), and avoid unnecessary calculations on business logic processors. Because memory is designed to be highly parallel, it's getting cheaper. The amount of data needed to track everyone's account balance and permissions on the Internet can be stored in less than 1TB of ram, which can be purchased for less than $15000, and can be installed on the commercialized (high-end) server motherboard. Before the system was adopted by 3 billion people, this kind of hardware would be seen in ordinary desktop computers. The real bottleneck is not the demand of memory capacity, but the demand of bandwidth. In the case of 1 million transactions per second and 256 bytes per transaction, the network will need 256MB of data per second, that is, 1GBIT / s bandwidth. Such bandwidth is not common on ordinary desktop computers. However, such bandwidth is only a little bit of the 100Gbit / s bandwidth of the second generation Internet. The second-generation Internet is available to more than 210 U.S. ecational institutions, 70 companies and 45 non-profit and government agencies
in other words, blockchain technology can easily keep everything in memory, and if properly designed, it can be extended to support millions of transfers per second
3) allocate ID and avoid hash calculation
in a single threaded system, processor cycle is a scarce resource that needs to be reserved. Traditional blockchain design uses hash calculation based on encryption algorithm to generate a unique global ID system, so as to ensure that there will be no collision statistically. The problem with these hashes is that they consume more and more memory and processor cycles. Compared with a direct array index, this method will significantly take up more processor time to find the records of an account. For example, 64 bit integers are easier to compare and operate than 160 bit IDs. A larger hash ID mechanism means less space in the CPU cache and more memory is needed. In the modern operating system, the ram which is not often accessed will be compressed, but the hash identifier is a random number, which cannot be compressed. The model blockchain gives us a way to assign unique IDs around the world. These IDS will not conflict with each other. Therefore, it completely avoids using the identifier based on hash algorithm like bitcoin address to refer to an account, balance or license
4) remove signature verification from the business logic processor
all transactions in the cryptocurrency network depend on the use of encryption algorithm signature to verify permissions. In most cases, the requested permissions can be changed by the results of other transactions. This means that in the business logic processor, permissions need to be defined as a case that has nothing to do with the calculation of encryption algorithm
to achieve this goal, all public keys need to be assigned a unique and irreplaceable ID. After the ID is assigned, the input resolver can verify whether the provided signature matches the specified ID. When the transaction arrives at the business logic processor, you just need to check the ID
the same technology can remove prerequisite checking on objects with irreplaceable static IDs
5) designing transactions for static verification
for transactions, there are many features that can be statically checked without referring to the current global state. These checks include parameter range checking, input de rendancy and array sorting. In general, there are a lot of checks that can be done if the transaction contains data that it "assumes" is global. After these checks are executed, the business logic processor has to make sure that these assumptions are correct. The process is to check the modification timestamp of an object reference related to the transaction signature time
6) smart contract
many blockchains are integrating a common scripting language to define all operations. These designs ultimately define the business logic processor as a virtual machine, and all transactions are defined as scripts run by the virtual machine. This solution has a single threaded performance limit on a real processor, and the problem is exacerbated by forcing everything to be executed through a virtual processor. A virtual processor will always be slower than a real processor even if it uses JIT, but the computing speed is not the only problem of this "everything is a script" scheme. When the transaction is defined at such a low level, it means that the static check and encryption algorithm operation will still be included in the business logic processing, which will also rece the overall throughput. A script engine should never ask to perform a signature checking request for an encryption algorithm, even if the request is implemented through a native mechanism
according to the course we learned from Lmax, we know that a virtual machine designed for blockchain should consider single thread performance. This means that compiler optimization should be implemented at the beginning, and the most commonly used smart contracts should be natively supported by blockchain, while only those rarely used and customized contracts will run on a virtual machine. These custom contracts are designed with performance in mind, which means that the virtual machine should limit the range of memory that can be accessed to a level that can be placed on the processor cache
7) object oriented data schema
in memory
1) efficient and scalable performance
borderless system realizes over 100000 times / s batch transfer
high performance blockchain technology is necessary for cryptocurrency and smart contract platform, and can provide a solution that may replace the existing financial platform for the instry. In order to be able to process more transactions per second than visa and MasterCard, unbounded redesign starts from the bottom. Through the share authorization mechanism, the unbounded network can confirm more than 100000 transfer transactions in an average of one second
overview of borderless system architecture. The Lmax can process up to 6 million transactions per second. The key point of unbounded learning from its technology, As follows:
A) put everything in memory
b) put the core business logic in a single thread
C) put the encryption algorithm operation (hash and signature) outside the core business logic
d) divide the verification operation into state independent and state dependent checking
e) use an object-oriented data model
by following these simple rules, Unbounded can process 100000 transfers per second without disruptive optimization. If there is further optimization work, unbounded can achieve the performance similar to that of Lmax exchange (i.e. 6 million times per second). It should be noted that unbounded performance is highly dependent on one of the compatible transaction protocols. If you want to use business logic to run on a virtual machine that operates encryption algorithm and calls all objects with hash identifier, it is impossible to achieve the same level of performance. Blockchain is inherently single threaded, and the performance of single core CPU is one of the most scarce and difficult to expand. Unbounded technical logic can make the single thread execution highly efficient
endorsement of core business of borderless system
blockchain is a global account book that determines to modify a shared global state transaction. The orders contained in these transactions can change the validity of other transactions. For example, you cannot withdraw money from your bank account before the deposit of your check takes effect. You can't know if a transaction is valid until all previous transactions that can affect a particular account are processed. If two unrelated accounts do not share any common dependency, theoretically, the transactions between the two accounts can be processed at the same time. In fact, it's tricky to identify which transactions are truly independent on a smart contract driven ledger with arbitration conditions. The only way to ensure that the two transactions are truly independent is by maintaining a completely separate ledger and then transferring value between them on a regular basis. If we want to use this kind of performance tradeoff to compare, it can be like the relationship between non-uniform memory access (NUMA) and uniform memory access (UMA). In fact, the consistent memory access architecture is easier for developers to design, and the cost is lower. Inconsistent memory access architecture is usually used as a last resort when building supercomputers and large computer clusters. The computer instry has graally realized that it is not as easy to achieve performance expansion through parallel computing as it was in the early days. After all, the most important thing to do at that time was to increase the frequency of the processor. It is for this reason that processor designers are trying to improve the performance of single thread before trying to use multi thread settings. When multithreading is not enough, and only in this way, cluster computing will be considered
many people in the cryptocurrency instry try to solve the problem of scalability by cluster computing before exploring what can be achieved by a single core of a computer technically
2) Lmax disruptor decomposer technology
Lmax decomposer provides a learning example of what can be achieved on a single thread. Lmax is a trading platform for end customers with the goal of becoming the fastest exchange in the world. They have been very generous in publishing what they have learned<
overview of Lmax architecture:
business logic processor is where all sequential transactions and order matching occur. It is a single thread that can process millions of orders per second. This architecture can be easily used in the field of cryptocurrency and blockchain design. The role of the input resolver is to collect orders from many users from different sources and assign them to a certain order. When the order is assigned to them, they are copied, recorded and broadcast to many rendant business logic processors. The input resolver is highly parallel and can be easily sub contracted into a computer cluster system. When the business logic processor has finished processing the input, an output resolver is responsible for informing those who care about the result. This is also a highly parallel task. Finally, by using a single threaded sample processor and Java virtual machine in the business logic processor, Lmax can execute 6 million transactions per second. If Lmax can achieve this goal, then cryptocurrency and smart contract platform do not need to consider the cluster network solution under the condition of less than 10 transactions per second. High performance blockchain
to build a high-performance blockchain, we need to use the same technology as Lmax. Here are a few things that must be done: put everything in memory, avoid synchronization primitives (locking, atomic operations), and avoid unnecessary calculations on business logic processors. Because memory is designed to be highly parallel, it's getting cheaper. The amount of data needed to track everyone's account balance and permissions on the Internet can be stored in less than 1TB of ram, which can be purchased for less than $15000, and can be installed on the commercialized (high-end) server motherboard. Before the system was adopted by 3 billion people, this kind of hardware would be seen in ordinary desktop computers. The real bottleneck is not the demand of memory capacity, but the demand of bandwidth. In the case of 1 million transactions per second and 256 bytes per transaction, the network will need 256MB of data per second, that is, 1GBIT / s bandwidth. Such bandwidth is not common on ordinary desktop computers. However, such bandwidth is only a little bit of the 100Gbit / s bandwidth of the second generation Internet. The second-generation Internet is available to more than 210 U.S. ecational institutions, 70 companies and 45 non-profit and government agencies
in other words, blockchain technology can easily keep everything in memory, and if properly designed, it can be extended to support millions of transfers per second
3) allocate ID and avoid hash calculation
in a single threaded system, processor cycle is a scarce resource that needs to be reserved. Traditional blockchain design uses hash calculation based on encryption algorithm to generate a unique global ID system, so as to ensure that there will be no collision statistically. The problem with these hashes is that they consume more and more memory and processor cycles. Compared with a direct array index, this method will significantly take up more processor time to find the records of an account. For example, 64 bit integers are easier to compare and operate than 160 bit IDs. A larger hash ID mechanism means less space in the CPU cache and more memory is needed. In the modern operating system, the ram which is not often accessed will be compressed, but the hash identifier is a random number, which cannot be compressed. The model blockchain gives us a way to assign unique IDs around the world. These IDS will not conflict with each other. Therefore, it completely avoids using the identifier based on hash algorithm like bitcoin address to refer to an account, balance or license
4) remove signature verification from the business logic processor
all transactions in the cryptocurrency network depend on the use of encryption algorithm signature to verify permissions. In most cases, the requested permissions can be changed by the results of other transactions. This means that in the business logic processor, permissions need to be defined as a case that has nothing to do with the calculation of encryption algorithm
to achieve this goal, all public keys need to be assigned a unique and irreplaceable ID. After the ID is assigned, the input resolver can verify whether the provided signature matches the specified ID. When the transaction arrives at the business logic processor, you just need to check the ID
the same technology can remove prerequisite checking on objects with irreplaceable static IDs
5) designing transactions for static verification
for transactions, there are many features that can be statically checked without referring to the current global state. These checks include parameter range checking, input de rendancy and array sorting. In general, there are a lot of checks that can be done if the transaction contains data that it "assumes" is global. After these checks are executed, the business logic processor has to make sure that these assumptions are correct. The process is to check the modification timestamp of an object reference related to the transaction signature time
6) smart contract
many blockchains are integrating a common scripting language to define all operations. These designs ultimately define the business logic processor as a virtual machine, and all transactions are defined as scripts run by the virtual machine. This solution has a single threaded performance limit on a real processor, and the problem is exacerbated by forcing everything to be executed through a virtual processor. A virtual processor will always be slower than a real processor even if it uses JIT, but the computing speed is not the only problem of this "everything is a script" scheme. When the transaction is defined at such a low level, it means that the static check and encryption algorithm operation will still be included in the business logic processing, which will also rece the overall throughput. A script engine should never ask to perform a signature checking request for an encryption algorithm, even if the request is implemented through a native mechanism
according to the course we learned from Lmax, we know that a virtual machine designed for blockchain should consider single thread performance. This means that compiler optimization should be implemented at the beginning, and the most commonly used smart contracts should be natively supported by blockchain, while only those rarely used and customized contracts will run on a virtual machine. These custom contracts are designed with performance in mind, which means that the virtual machine should limit the range of memory that can be accessed to a level that can be placed on the processor cache
7) object oriented data schema
in memory
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