Virtual currency of POS mechanism
POW: full name of proof of work
pos: proof of stake
both of them are the consensus mechanism of blockchain and the bookkeeping method of digital currency
the difference is:
1. POW mechanism: workload proof mechanism, that is, the proof of workload, is the requirement that must be met when generating a new transaction information (that is, a new block) to be added to the blockchain. In the blockchain network based on workload proof mechanism, the ability of nodes to obtain the correct numerical solution to generate blocks by calculating the numerical solution of random hash hash is the specific performance of node computing power
POS mechanism: the proof of rights and interests requires the certifier to provide a certain amount of ownership of cryptocurrency. The operation mode of the proof of rights and interests mechanism is that when creating a new block, the miners need to create a "currency right" transaction, and the transaction will send some coins to the miners themselves according to the preset proportion. According to the proportion and time of token owned by each node, the equity proof mechanism reces the mining difficulty of nodes proportionally according to the algorithm, so as to speed up the speed of searching for random numbersextended materials:
the concept of bitcoin was first proposed by Nakamoto in 2009. According to Nakamoto's ideas, the open source software and the P2P network on it were designed and released. Bitcoin is a kind of P2P digital currency. Point to point transmission means a decentralized payment system
unlike most currencies, bitcoin does not rely on specific currency institutions. It is generated by a large number of calculations based on specific algorithms. Bitcoin economy uses the distributed database composed of many nodes in the whole P2P network to confirm and record all transactions, and uses the design of cryptography to ensure the security of all aspects of currency circulation. The decentralized nature and algorithm of P2P can ensure that it is impossible to artificially manipulate the value of bitcoin through mass proction
What does this mean? That is to say, how much money you get depends on the effective work you contribute to mining. In other words, the better the performance of your computer, the more money you will be allocated. This is to allocate money according to your work certificate. Most virtual currencies, such as bitcoin, Leyte and Ruitai, are based on the pow mode (the higher the computing power and the longer the mining time, the more money you get)
pos: proof of stake
What does that mean? In short, it is a system to pay you interest according to the amount and time of currency you hold. In the POS mode of certificate of equity, there is a term called currency age. Each currency has one currency age every day. For example, if you hold 100 currencies for 30 days, then your currency age is 3000. At this time, if you find a POS block, Your currency age will be cleared to 0. Every time you are cleared 365 coins, you will get interest of 0.05 coins from the block (which can be understood as 5% annual interest rate). In this case, interest = 3000 * 5% / 365 = 0.41 coins, which is very interesting. Holding coins has interest, very good!
money circle, one day, ten years on earth
the high housing prices destroyed the post-80s and post-90s
and then the world came back. Today's virtual currency
the post-80s also pulled back a round. Whether it is worth buying is not to see whether its current price is high or low
but to see whether it has value in the future and whether it will be useful for everyone's life There must be only a few bitcoins in total.
bitcoin has become a kind of value preservation proct corresponding to gold
decentralized anonymity advantage
bitcoin comparable to gold
moreover, more and more businesses have accepted bitcoin transactions
some institutions have also accepted bitcoin donations, and bitcoin ATM has become a hot topic Put into use
the second is
Ethereum (ETH)
it can be said that it is an evolutionary version of bitcoin
bitcoin is gold, Ethereum is silver
Ethereum's technology can be applied to real world applications
JPMorgan Chase, Microsoft, etc. are all optimistic about Ethereum technology
In my opinion, the most stable return is the twoand the other multifarious currencies have gone up and down sharply. Ordinary people's hearts can't stand
at present, domestic users can buy through this website
transactions
it's not the price rise of the currency but the price rise of the currency through the bar The number of coins is rising
this may be found from the contract law and the losses caused by violation,
Private key: in fact, it is a group of random numbers. We have already introced the random numbers in the blockchain
public key: the private key is generated by elliptic curve encryption algorithm, but the private key cannot be obtained by public key inversion. The function of public key is to encrypt information with one's own private key when dealing with the other party, and then the other party decrypts the original information with one's own public key. This process is commonly known as signature
address: because the public key is too long and inconvenient to use in the transaction, the public key hash is encrypted with sha256, ripemd160 and base58 algorithms to generate the address
first, the random number generator is used to generate a "private key". The subsequent public key and address will be generated by the private key, so the importance of the private key can be summarized in one sentence: & quot; Who has the private key, who has the right to use the wallet& quot;
"private key" is encrypted by elliptic curve algorithm (secp256k1) to generate & #; Public key;. This is an asymmetric one-way encryption algorithm. Knowing the private key can calculate the public key, but knowing the public key can't reverse calculate the private key
"public key" generates "public key hash"
through one-way hash algorithm (sha256, ripemd160), and connects a byte of address version number to the "public key hash" header (for the pubkey address of bitcoin network, The first four bytes of the result are used as the check value of "public key hash" and connected at the end of it
encode the previous result with base58 (customized version of bitcoin) to get the "wallet address"