Huobi Group created the industry's first small animation series "Blockchain 100 Questions", which was jointly produced by Sina Technology.
Transform abstract blockchain concepts into 100 episodes of easy-to-understand 1-minute animations, each episode learns a knowledge point~
The original video link is as follows: http://tech.sina.com.cn/zt_d/blockchain_100/
2. History of Bitcoin and Blockchain Development
11. Why hasn’t Bitcoin been mined yet?
The Bitcoin system adjusts the difficulty factor to ensure that Bitcoins are not quickly mined. Every 10 minutes, the miners of the whole network jointly calculate a problem, compete for the accounting rights, and reward bitcoins. If the computing power of the entire network continues to grow, Bitcoin will soon be mined. In order to ensure that a block can be dug in 10 minutes, Satoshi Nakamoto designed the miners to mine every 2016 blocks and dynamically adjust it once, that is, increase the difficulty so that only one block can be dug every 10 minutes.
12. How does Bitcoin achieve a constant total amount?
Deflationary virtual currency, a total of 21 million! Each bitcoin can be subdivided to 8 decimal places. Initially, 50 bitcoins are issued per block. After every 210,000 blocks, the bitcoin output per block is halved! Because a block is generated every 10 minutes, it takes about 4 years for 210,000 blocks, that is to say, within 4 years, the output of Bitcoin will be halved! By 2045, 99% of all bitcoins will be issued.
13. What is the difference between Bitcoin and Q Coin?
Bitcoin is decentralized, has no issuer, and itself guarantees trust. Q Coin is centralized, issued by Tencent, and endorsed by trust.
14. What is the attitude of various countries towards blockchain assets?
The whole is in the exploratory period, and European and American countries actively support and explore. Among Asian countries, Japan actively supports and recognizes its payment currency; South Korea actively supervises; China strictly supervises, but stipulates that trading platforms shall not engage in the exchange business of virtual currency and soft sister currency!
3. The principle of Bitcoin transfer
15. How to transfer bitcoins?
A bitcoin transfer is the process of transferring one bitcoin address to another. The transfer needs to enter the Bitcoin address, recipient address, transfer amount, and handling fee amount in the Bitcoin wallet or Bitcoin trading platform. After confirming the payment, the transaction information will be broadcast on the entire Bitcoin network. Every 10 minutes, miners pack unrecorded transactions on the Bitcoin network into a block, which completes a confirmation that Bitcoin has been transferred to another client. Usually 6 confirmations are required.
16. How much is the handling fee for Bitcoin transfer?
The handling fee is the fee paid by the trader to the miner, which is used to motivate the miner to keep accounting, also called the miner fee, which is generally 0.001`0.0015 bitcoins, which can ensure that the bitcoin network has sufficient computing power, and it can be processed after the bitcoins are mined. In the future, there are enough miners willing to continue to maintain the network.
17. Does blockchain transfer actually charge per byte?
Regardless of the size of the transfer amount, it is charged per byte. According to the number of bytes in the transaction information!
18. What is the Bitcoin address?
A 26- to 34-bit string of letters and numbers, equivalent to a personal Bitcoin account, like a bank card number. You can download a bitcoin wallet, or register with an exchange to get a unique bitcoin address.
19. What is a Bitcoin node?
Bitcoin is a peer-to-peer (node-to-node) transaction system. Every Bitcoin wallet is a node. A node with a complete blockchain ledger is called a full node, which is only a small part of the total number of nodes.
20. How many steps are required from sending transactions to miners packing?
Broadcast the transaction to the entire network. After the mining node receives the transaction, it will first put it into the local memory pool for some basic verification, such as whether the bitcoin is valid. After the verification is successful, it will be put into the unconfirmed transaction pool and wait for the Pack.
21. What is the digital signature of Bitcoin?
When bitcoins are transferred out, an anti-forgery string generated by the transferor. By validating the string, it is guaranteed that the transaction originator initiated the transaction and that the transaction information has not been altered. Digital signatures consist of digital digests and asymmetric encryption techniques. First, the transaction information is shortened into a fixed-length string through digital digest technology, and then the digest is encrypted with its own private key to form a digital signature. After completion, the complete digital signature and transaction information are broadcast to the miners, and the miners use the transaction The originator's public key is verified.
22. What is the Bitcoin transaction and change mechanism?
You can use multiple addresses to transfer money at the same time, and you can also transfer money to multiple addresses at the same time.
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