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Why can bits be forked (do bits only have symbols 0 and 1)

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Why can bits bifurcate

Why can bits bifurcate? Why can bits bifurcate? The emergence of Bitcoin and Ethereum has brought new challenges to miners. In the Bitcoin network, due to an algorithm that can package a block (or transaction) into another blockchain, when users want to perform a specific transaction, they need to choose whether to support the new coin or if the token has been added to the chain, and then use the same code again at different points in time to execute the program

According to the Bitcoin Cash Cash Protocol, failure to do so will result in Systematic risk, because it may lead to a decline in the unpredictability and decentralization of the entire network. However, this mechanism also significantly increases the difficulty of mining Bitcoin, resulting in a 51% attack situation. Therefore, Bitcoin miners can achieve their goal by controlling these mining machines with 51% computing power: by having them run a single node to verify transactions and confirm that each block is correct; It is also possible to allow others to create multiple blocks and initiate transactions similar to normal workload. (Note: “Hard disk” refers to the sharing platform of hardware resources such as computer equipment, mobile phones and storage media, which usually transmit data information between local servers.)

But with the development of Cryptocurrency, people increasingly believe that “Virtual Gold”, also known as virtual goods, is one of them, which can make the world a better place. Virtual land “refers to the world’s largest private property – people who own their own digital real estate can use it to build some houses, sell these properties for Bitcoin and other financial derivatives, and even use them for commercial purposes.” Virtual foundation “is closer to physical property So what is virtual foundation Let’s understand from two perspectives: 1. The Bitcoin blockchain network maintained and managed by mining giants. 2. A blockchain development agency operated by a large technology company. The company handles bitcoin mining equipment and mining process for its customers, including Microsoft, Nvidia, AMD, TSMC, Canaan Creative and Yibang International. All three companies hold their own Bitcoin mines and also collaborate with cloud computing provider Bitbury to establish blockchain based machine learning laboratories. The third aspect is the Ethereum Foundation led by the software development team Tether. 4. The mining pool dominates the Bitcoin network, and as an important component of the mining circle, the dominant position of the mining pool determines the future direction of the Bitcoin network

Is there only 0 and 1 symbols for Bits?

Editor’s note: This article is from Bitpie (ID: Bitpie), authored by Chen Hua, and reprinted by Daily Planet with authorization

In the past few months, some changes have taken place in the field of Bitcoin and Cryptocurrency. For example, the recent rise in currency prices has led miners to sell BTCs and various counterfeit coins. The February market seems to have been the most severely affected – because there are two symbols that increase the block reward from 1 ETH to 2 ETHs; These two symbols are 0x00b4aec3f8ba9d5af90ed7bf88bdda3be6feb40ecc28fae9c8c4, and there is another symbol called slotcoin, which has exceeded 10 trillion RMB. (The picture is from the WeChat official account @ defiprime)

In fact, there has been a lot of information about “Bitcoin” since the birth of Bitcoin. “Bitcoin” is a synonym in the blockchain. “Ethereum”, or simply “Ethereum Classic”. But these words are actually things that appear in the way of Cryptography, can not be changed and traceable, rather than some form of technology or legal concepts to achieve them. So if you want to understand why someone likes it? Perhaps everyone may think that this is an impossible thing to happen, after all, nowadays everyone can prove their correctness by writing code and verifying it, but they also do not know to what extent they can achieve it What exactly does it mean for Bitcoin? First, let’s take a look at what are ‘Consensus’ (PoW) and’ Workload Certification ‘? To answer the above question, you can first briefly introduce the term “proof of work”, which is an algorithm protocol jointly invented by computer scientists, software engineers, mathematicians, and others, used to record transaction data and create decentralized applications (DApps) According to the above definition, workload authentication means that users must pass a new system called “Zero Proof of Knowledge” to obtain the security of any information Therefore, when you use “zero knowledge declaration”, there is a very important feature: “zero knowledge declaration is a security technology that allows developers to quickly update, deploy, and upgrade their products.” In addition, other attributes can be considered, such as “uniqueness of state signatures”, “validity of smart contracts”, “timestamp based security features/compatibility” It has infinite scalability, high privacy, and finally includes a series of attributes such as public key and mnemonic address Of course, this statement is not without its drawbacks. On the contrary, it indicates the fact that “only one symbol” represents a part of the integrity and stability of the entire system So the question arises: why not just one symbol? Because different people have different ideas and perspectives, this forms a new pattern. In other words, is’ zero ‘a single symbol? Or is it just a single symbol? I don’t think so.

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