You might have heard about “the impossible triangle” which has triggerred heated discussion in cryptocurrency communities.
We will discuss whether it is a true concept or a pseudo one, because only when we can distinguish the authenticity and no longer waste time on the pseudo one, it is possible to explore the issues worthy the efforts in the blockchain.
In many articles about blockchain, people may often read that the blockchain is forked at a certain block height. So, what is the block height? Why is it forked at a certain block height? Now, we’d like to talk about the block height in this article.
All blockchain networks have one thing in common: transactions need to be verified. For example, bitcoin adopts Proof of Work (PoW), the so-called mining, which requires a lot of electricity. Proof of Stake(PoS) is another kind of consensus mechanism, which has different evolution and integration forms. We call it staking.
The NYSE parent company, ICE, originally planned to launch the Bakkt Bitcoin Futures Exchange in December 2018. Due to various reasons, it was delayed until the July 23 when the global user test of bitcoin daily and monthly futures contracts was finally launched. It finally went online on September 23.
The glamor of Bakkt not only comes from its compliance attempts in physical delivery, but also its traditional financial background and strong investment institutions.
There is an “impossible triangle” problem in the blockchain industry, that is, the security, scalability and decentralization. People can only achieve the other two by sacrificing the third one. In order to “solve” this impossible triangle, people have thought out many solutions, including the Layer 2.
In terms of the blockchain scalability, we have kinds of consensus mechanism optimizations, such as Tendermin and Sharding. The new solutions decouple the time and state updates, propose the program for asynchronous processing of transactions. Will the blockchain scalability be redefined therefore?
At a time when blockchain and cryptocurrency waves are sweeping across the world and the vague prospects of central banks on cryptocurrencies, many large cities worldwide seem to rush to introduce their own regional cryptocurrencies.
In Asia, Japan, South Korea, Chinese Taiwan; In Europe, Britain, Norway, Sweden, Ukraine; In America, Canada; In Africa, Orania … According to public statistics, more than 14 countries and regions in the world have launched exclusive “city cryptocurrency”.
EastShore will make a detailed introduction of the city cryptocurrency in this article. No matter whether they are successful ones, they will provide a new paradigm template for the development of blockchain and cryptocurrency.