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This is the best in-depth report on blockchain

Time : 30/09/2021 Author : lt4boz Click : + -
        This group of word orders has no meaning. What really makes them valuable is that this word order is specially produced for me by a software called metamask. Expressed in cryptography terms, it is called seed phrase. This group of words sounds incoherent, but it can be turned into a key, open a digital bank account, or conduct online authentication. And it only takes a few steps to complete. The computer tells me on the screen to ensure the safety of my mnemonic words: write them down or put them in a safe place on the computer. I hurriedly wrote 12 words on the note paper, and then clicked a button, which turned into 64 characters that looked irregular:.
 
        This is called "key" in Cryptography: it is a way of identity verification, but it is very different from the way of unlocking with a key in real life. My mnemonic words can produce accurate alphabetic order every time, but it is still unknown how to reverse engineer the initial phrase of the key. That is why it is important to put the seed words in a safe place. Ethereum has its own currency, and the most famous one is Ethereum. But this platform not only has money, but also has a wider range. You can think of the Ethereum address as a bank account, email address or a social security number. At present, it is a string of meaningless characters on my computer, but as long as I want to conduct any transaction, such as participating in a crowdfunding activity or conducting an online referendum, this address will be sent to a temporary computer network to verify the transaction.
 
        The results of verification will be transmitted to a wider network again, and more machines will enter a competitive state to perform complex mathematical operations. The winner will record the transaction separately. In the history of Ethereum, each transaction has been recorded in a standardized manner. But from the technical point of view, it is indeed quite magical. Some things were almost unimaginable 10 years ago. Without relying on traditional institutions to build trust, I successfully completed a secure transaction. No middleman; There is no social media network to collect the data of this transaction so as to better promote the accurate advertising; There is no credit institution to track this activity in order to build an economic credibility.
 
        As a form of organization, Ethereum is more democratic than any private company. There is no roar of authoritarian leadership. As long as you join this community and do some work, you are helping to drive the ship of Ethereum. Like bitcoin and most other blockchain platforms, Ethereum is more like a honeycomb than a formal entity. Its boundary is very vague, and it is a flat hierarchical system. There is another side: in this honeycomb, some people have accumulated a net book value of billions of dollars through their labor. On January 1, 2017, the value of Ethereum was only $8, and a year later, the value reached $843.
 
        For this kind of change, you may have a contemptuous attitude and feel that it is not worth mentioning. After all, the uncontrolled growth of the value of bitcoin and Ethereum is definitely a typical case of irrational spread. At present, this mysterious technological breakthrough does not seem to be different from the credit card repayment on the website. Why should we care about such a technology?. From the history of the development of the Internet, we have learned one thing. This software architecture seems mysterious, but once this technology is developed into more extensive computing, it will release far-reaching power and affect the world. If the mail standard was adopted in the 1970s, and the public key and the key were taken as a default setting, everyone from Sony to John Podesta (former Secretary of State Hillary Clinton's campaign director general) would no longer be troubled by large-scale mail hacking, and millions of ordinary users would no longer have the problem of identity theft.
 
        If Tim Berners Lee, the inventor of the world wide web, had adopted the positioning social identity protocol in the original standard, we might not have Facebook today. The staunch believers behind blockchains like Ethereum believe that the distributed trust network is a progress in software architecture, and history will certainly prove its great significance. This expectation has further boosted the value of cryptocurrencies. However, the bitcoin foam may eventually become a carnival in the real sense of the blockchain. Many followers believe that the expectation of this new technology is not to replace our existing currency, but to replace our current concept of the Internet, and at the same time pull the network world back to a decentralized and equal system.
 
        Inspired by the utopian dream of unlimited resources and global connection, the Internet seems to have become a scapegoat in the past few years: it has become the root of all social problems we face. Russian hackers used false news on Facebook to disrupt the democratic system; Hate speech is rampant on Twitter and reddit; The huge wealth of the geek elite has exacerbated income inequality. The Internet originally promised to become a new media composed of a large number of tabloids, blogs, self built encyclopedias and so on; The information giant that dominated the mass culture in the 20th century should have given way to a more decentralized system, a cooperative network rather than a hierarchical communication channel, reflecting the peer-to-peer architecture of the Internet itself.
 
        However, today's Internet is no longer Utopia, full of financial foam, junk information and numerous other problems. However, people always suspect that there is progress behind the depravity. Last year, such luck finally collapsed. On the Internet, suspicion is not new. The difference is that the voice of criticism is more from people who used to highly admire the Internet. "We want to fix the Internet," Walter Isaacson said. He is the author of the biography of Steve jobs. This is what he said in an article written a few weeks after Trump was elected. "After 40 years of development, the Internet has begun to corrupt, not only the Internet but also us.
 
        James Williams, former Strategic Officer of Google, told the guardian: "the vitality of the attention economy is structurally harmful to human will.". Brad Burnham, managing partner of Union Square ventures, a top venture capital firm in New York, complained on his blog about the additional harm caused by the quasi monopoly in the digital age:. "In the torrent of undifferentiated Facebook content, publishers find themselves becoming commodity content providers. A small change in Google's search algorithm can lead to the loss of a website's wealth. When Amazon decides to purchase goods directly in China and re plan its demand for goods, manufacturers can only watch sales decline.
 
        (Burnham's company invested in the company I founded in 2006; when the company was sold in 2011, we had no financial relationship.). Even Berners Lee, the inventor of the Internet, wrote a blog to express his worries. Social media and search engines based on advertisements have created an environment in which "false information that is shocking or specially published to attract prejudice is spread like wildfire on the Internet.". For most commentators, the solution to these huge structural problems is either to give new advice on the dangers of these tools, such as dropping our smartphones and keeping children away from social media, or to rely on strong regulation and anti trust tactics: to make technology giants and other industries that are critical to the public interest (such as the railway or telephone networks in the past) subject to scrutiny.
 
        Both of these ideas are commendable: we should probably develop a new set of habits to manage how we interact with social media. It seems that powerful companies like Google and Facebook should face the same regulatory scrutiny as TV networks, which is entirely wise. After all, in the 1990s, it was not only the antitrust Department of the Ministry of justice that questioned Microsoft's monopoly power, but also new software and hardware, such as networks, open source software and Apple products, which undermined Microsoft's dominant position. The blockchain preachers behind platforms such as Ethereum believe that a series of advanced technologies in software, cryptography and distributed systems are capable of solving today's digital problems.
 
        For example, the corrosive incentive mechanism of online advertising; Quasi monopoly of Facebook, Google and Amazon; Russia's misinformation campaign. If they succeed, their invention may challenge the hegemony of technology giants more effectively than any antitrust rule. They even claimed that they provided an alternative to the winner take all model of capitalism, without pushing wealth inequality to a height not seen since the era of bandit aristocracy. This remedy is not yet visible in any product known to ordinary technology consumers. So far, the only blockchain project that has entered the mainstream is bitcoin, but it is in a speculative foam.
 
        This foam makes even the Internet IPO boom in the 1990s look like a neighbor's garage auction. There is a cognitive conflict that puzzles all those who try to understand the blockchain: the potential power of this likely revolution is being actively weakened by the people it attracts, who are genuine liars, false prophets and mercenaries. This is not the first time that technical experts who pursue open and decentralized networks find themselves surrounded by a group of opportunists who want to get rich overnight. Just like the "master switch" proposed by Tim Wu in his book published in 2010, all major information technologies in the 20th century have a similar development pattern.
 
        From the beginning of enthusiasts and toys out of curiosity and community, to the end of multinational companies' continuous attention to maximizing shareholder value. Wu calls this pattern a cycle. At least on the surface, the Internet conforms to such a cycle with convincing accuracy. The Internet was originally a hodgepodge of government funded academic research projects and hobbies. But 20 years after the world wide web first entered the public imagination, it was found in Google, Facebook and Amazon & mdash& mdash; Also indirectly from Apple & mdash& mdash; These are the most powerful and valuable companies in the history of capitalism.
 
        They believe that, in fact, the foundation of the Internet is more open and decentralized than the previous information technology, and if we successfully adhere to this foundation, it could have maintained this state. The network world will not be dominated by a few giants in the information age; Our news platform will not be so vulnerable to manipulation and fraud; Identity theft will be far less common; Advertising revenue will also be distributed in a wider media field. And reached a critical number in the 1990s, at least in terms of audience. (the protocol is a software version of the common language, and is a way for multiple computers to agree to communicate with each other. Some protocols control the flow of raw data on the Internet, some protocols control the sending of e-mail messages, and some protocols define web page addresses.
 
        )Then. The first layer & mdash& mdash; We call it Internetone & mdash& mdash; It is based on open agreements, which are defined and maintained by academic researchers and international standards organizations that do not belong to anyone. In fact, the initial openness still exists around us, in a way that we may not be aware of. E-mail is still based on open protocols pop, SMTP and IMAP; The website still uses the Open Protocol HTTP service; Bits are still transmitted through the original open protocol TCP / IP of the Internet.
 
        You don't need to understand how these software protocols work technically to directly enjoy the benefits they bring. The key feature they share is that anyone can use it for free. If you want to build a web page, you don't need to pay the license fee to the company with HTTP protocol; If you want to send email using SMTP, you don't have to sell part of your identity to advertisers. Like Wikipedia, the open protocol of the Internet is the most impressive people based product in human history. To understand how great and difficult the benefits of these protocols are, imagine what it would be like if one of the key standards had not been developed.
 
        The global positioning system (GPS) was originally developed by the US military and was first used for civilian use during the Reagan administration. For about 10 years, it was mainly used by the aviation industry until individual consumers began to use it in car navigation systems. Now that we have smart phones, we can receive signals from the GPS satellites above our heads. We have used this extraordinary power to do all kinds of things, from finding nearby restaurants, playing Pokemon go, to coordinating disaster relief forces. Then, it is estimated that at some time in the 1990s, a market signal indicating that consumers are interested in establishing accurate geographical coordinates may flow to innovators in Silicon Valley and other technology centers, because these positions can be projected on digital maps.
 
        There will be fierce competition among competitors for several years. They will put their own dedicated satellites into orbit to promote their own unique agreements. However, considering the efficiency of verifying location from a single common method, the market will ultimately choose a dominant model. Initially, for consumers and other companies trying to establish positioning awareness in hardware and software, the full embrace of geobook will be a leap. But slowly, a darker story will emerge:. A single private company that can track the movements of billions of people around the world will build an advertising giant based on our mobile location. Any startup trying to build geo aware applications is vulnerable to the powerful geobook.
 
        The appropriate rage war will be written to denounce this big brother's public threat in the sky. Geolocation, like the location of web pages, e-mail addresses and domain names, is a problem that we have solved with open protocols. Because this is a problem we have not encountered, we seldom consider how well GPS has done its work and how many different applications have been developed on its basis. Open and decentralized networks are very active and well functioning on the Internetone layer. But since we settled down on the world wide web in the mid-1990s, we have rarely adopted new open standard protocols.
 
        I'll solve it. This has brought a powerful Internet service layer at the beginning of this century, which we can call internettwo. Despite the ingenuity of the inventors of the Internet open protocol. It's important to come. Perhaps most importantly, they have not established a secure open standard to determine the identity of human beings on the Internet. The unit of information can be defined & mdash& mdash; Web pages, links, messages & mdash& mdash; But people do not have their own agreement: there is no way to define and share your real name, your location, your interests, or (perhaps most importantly) your relationship with other netizens.
 
        It is the "basic layer" infrastructure described by vitalik buterin, the founder of Ethereum: platforms such as language, road and postal services, business and competition are actually generated in the public domain
 
        
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