In addition to focusing on blockchain technology, I have also thought about the meaning of many things related to the blockchain, lending the opportunity to the mass media to write a column, and writing down the process of learning and thinking. In the next period of time, there will be a series of articles on this 'original Qingyuan talk blockchain' from time to time. The name is very ambitious. Actually, it is just a point of talking about what you want to understand and trying to understand, and try not to use technical terms. Welcome to leave a message to discuss more exchanges, welcome to correct me. Series: One: The term "digital assets" may be misleading.
The title of "Dynamic coin speculations call for supervision plus code" was revised to "distinguish between bitcoin and blockchain technology to prevent policy accidental injury and technology research and development" and spread widely on the Internet. The revised title does reflect many people's In view, they want to distinguish between virtual currency such as Bitcoin and blockchain technology.
In fact, this is a long-standing debate. Is bitcoin and blockchain, the “coin†that represents the economy, and the “chain†of technology referred to as separable or indivisible?
To discuss this issue, we can return to Nakamoto to explain Bitcoin's paper "Bitcoin: Peer-to-Peer Electronic Cash System" and his technical invention. The title of this paper clearly describes what Nakamoto is trying to invent - a "cash" that can be used in the digital world.
The bitcoin invented by Nakamoto is not the first and certainly not the last attempt to create something that represents value in the digital space. According to Jimmy Clarke's statistics in The Long Way to Bitcoin, there are hundreds of similar systems, of which PayPal is known worldwide and still in actual use. Of course, for the Chinese people nowadays, we are more familiar with online payment such as Alipay and WeChat payment.
Regarding the design of the currency and other things that represent the value in the digital world, PayPal and others use credit. When we pay, what we pay is actually credit, which is checked by them.
However, there is another attempt in the technology circle that has not been successful. It is an attempt to adopt a cash idea to create something that people can use in the digital world like cash.
The predecessors had a lot of exploration, but they were unsuccessful until Nakamoto became the "cash" of bitcoin - the coin.
Bitcoin: The peer-to-peer electronic cash system (Peer-to-Peer Electronic Cash System), "peer-to-peer" indicates that when designing the system, he hopes that this "electronic cash" can be like cash in banknotes. Used between individuals and individuals. In his article in the Bitcoin Forum, the system is 'decentralized' and 'non-trust-based'.
2, David Joom's cash designIt is worth mentioning that David Jom, who first proposed a complete and feasible idea more than 30 years ago. In 1983, he first proposed the use of encryption technology to create a digital space of cash. In 1989, he also created a company to commercialize his ideas.
Cash has two advantages, one is anonymity, and the other is that it can be personally and personally traded without any intermediary.
Jomm offers a creative solution. It not only protects the user's anonymity, but also eliminates "double payment." (Jeremia Clarke)
For example, at the same time, a cash digital code is spent in two places, both for A and B. The way he solves the so-called double flower problem is the blind signature of cryptography. I issue a note representing cash, but the serial number you choose does not need to let me know.
On this issue, there has been a series of research and improvement, but the basic ideas have not changed much. Bitcoin and the blockchain from it are now used for "asymmetric encryption". The public and private keys are used for encryption and decryption, respectively.
3. Bitcoin "cash": a toyBitcoin can be seen as a wonderful improvement originally envisioned by Johm. Now we will not recognize it as a currency equivalent to real-world cash, but it technically achieves something similar to cash logic.
When referring to the "cash" of Bitcoin, I put quotes on the word cash, because if I retreat to 2007, Nakamoto does not want to invent something equivalent to cash in the real world, or more. The earth changes the status quo, but solves a technical problem and builds a toy.
To create such a toy, Nakamoto will have to solve many problems, two of which are mainly in the words of Jimmy Clarke:
The first is how to "issue money out of thin air",
The second is to "record all the information in the books."
The first is that although it is only a toy, it is still necessary to choose an effective mechanism. The mechanism that Nakamoto chooses is to make a certain amount of mathematical calculations to generate new "cash". Nowadays, people say that "mining", "decentralization", or professional "computing power" and "work volume proof" (PoW) are all related to this mechanism.
The second account book (ledgers) is what people now call the "blockchain". The blockchain is based on distributed, open, interconnected, and non-tamperable large books.
Nakamoto has made several very important changes to the blockchain related technologies and mechanisms. His design has truly invented the “blockchain†and made it a basis for a series of innovations.
Nakamoto's important design improvements to the blockchain Jimmy Clarke uses a hash-like protocol (that is, he must first calculate mathematical problems before he can perform operations) to reduce the number of blocks in the blockchain. speed. This improvement has had a profound and beneficial impact on the security of Bitcoin. - The Bitcoin system records events through a group of unauthenticated nodes, "miners", eliminating the need for authenticated servers. The block information is recorded by each miner instead of the normal user. Anyone can solve a mathematical calculation, build a new block, and become a miner. - Bitcoin also discards signatures and relies only on hash pointers to ensure the integrity of the data structure. - Finally, the real timestamp is not very important for Bitcoin. The whole system is meant to record transaction information in order of succession and ensure that it cannot be tampered with. In fact, bitcoin blocks are not generated on a fixed schedule. In the Bitcoin system, a new block is generated every 10 minutes on average, and the time interval between two adjacent blocks is greatly different.
4. Toys in the history of the InternetIn the history of Internet development, there are many such toys:
Tim Bonus Lee invents the World Wide Web (WWW)
Linus invents operating system Linux
Marc Anderson developed the Mosaic browser (he later developed the Netscape browser)
Even Larry Page and Sergey Brin were the first to develop Google.
Take these out analogy, I want to say:
Regardless of how people look at Bitcoin today, whether it is viewed as currency, goods, or assets, one of the important attributes of its emergence is a technical toy.
In fact, it was a toy for a long time before the bitcoin price surged. Technicians liked to drum and modify toys, and there were cases where someone took 10,000 bitcoins for a pizza.
After a technology is invented, what kind of practical use it can eventually find, and how much it can affect the world is another.
5. After Nakamoto SatoshiAs can be seen from the above discussion, Nakamoto has created a wonderful toy in the process of solving the problem:
He created a basic technology, the blockchain (book)
Created an app that is bitcoin ("cash")
More subdivided, the things invented by Nakamoto include three layers:
The bottom layer is the technical blockchain (book);
In the middle is a bitcoin protocol based on blockchain;
The top is the application, the "cash" of bitcoin.
The ledgers have both technical and economic implications. The economic implications of the books will be discussed in detail later.
Next, people from different fields further encouraged the toy and gradually wanted to make this powerful toy practical.
People first create a variety of coins similar to Bitcoin.
After that, many people tried to separate the coins from the chains.
Then, the team represented by Ethereum tried to create a blockchain 2.0 system and turned it into a "next-generation smart contract and decentralized application platform."
Now more organizations are trying to develop a new generation of systems, claiming to be 3.0, 4.0.
Interestingly, Ethereum does not actually become a new generation of operating systems that can run applications. Tokens that comply with its ERC20 standard (Token) have become the core application scenarios of its smart contracts, if not the only application scenarios. if.
In this way, the world has a lot of application certificates at once, which is the virtual currency scene from mid-2017 to the present.
In any case, by this time, Bitcoin and blockchain technology have developed into a new stage as a whole. It is no longer only a function of issuing "cash" like a toy, but with the issuance of tokens/passports. Features.
The emergence of the certificate opened up the economic possibilities and application prospects of the blockchain, and the two wings of the blockchain – technology and economy began to take shape.
Although it is difficult to predict the state in which the last two will develop, the “coin†representing the economy and the “chain†representing the technology, economy and technology are intertwined.
Considering only technology does not consider the economy, in a sense, it is a bit like the beginning of the Internet development, the Internet is only used to transmit information, not to develop e-commerce.
Now, the high prices of bitcoin and other virtual coins and the speculation surrounding them may not be expected by everyone. The virtual currency speculation should indeed be regulated.
However, it only emphasizes that technology may be misunderstood in its development. Blockchain technology and blockchain economy are intertwined and inseparable.
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