区块链与数字货币研究外文文献翻译 2017.docx
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外文文献翻译原文及译文
文献出处:
KevinH.Theresearchofblockchainanddigitalcurrency[J].AppliedInnovation,2017,3
(2):
6-17.
原文
Theresearchofblockchainanddigitalcurrency
KevinHuber
Abstract
Thecurrencyisbasedonblockchainwhichisadistributedpeer-to-peernetworksystem.Therefore,withoutthe"central"serveralsohavenocentralcontrolpoint.Bitcoininthechainofblockstechnologybasedonthecompleteadeal,andasmentionedaboveeverytransactionprocessingneedstotheentirenetworkbroadcasting,andcalculatedbytheminerstocomplete,verify,andrecordtransactions,thenewBitcoinissuedasanincentivemechanismtominers,thisalsoistheso-calledmining.Bitcoinintheoryanyparticipantsinthenetworkcanbeapotentialminers,usingtheircomputertocalculateforcetocompletetheverificationandrecords,butinfactthecurrentcountCOINSdigforceismorethantheglobaltop104timesofthesumofthecomputingpowercalculation,visibleworkforcerequirementsofthehighandnoteasytoachieve.
Keywords:
Blockchain;Bitcoin;Financialindustry
1 Introduction
BlockchainoriginatedinthecurrencyandthecurrencybySatoshiNakamotofirstproposedin2008,thispaperputsforwardacompletelythroughpeer-to-peertechnologytorealizeelectroniccashsystem,itcanmaketheonlinepaymentdirectlybypartyaandpaytotheotherparty,don'tneedtoanyfinancialinstitutioninthemiddle.Althoughdigitalsignaturetoacertainextentsolvedtheproblemofthedoublepay,butIstillneedthesupportofathirdparty,inthehearingontheproposedasolution,makethecashsystemruninapeer-to-peerenvironment,andtopreventdoublepaymentissues.Thenetworkofalltransactionsthroughrandomhashtime-stamped,mergethemareaconstantextensionbasedonrandomhashworkcertificatechainastradingrecords,completetheworkunlessitisprovedthattheformationofthedealwillnotchange.Blockchaintechnologyisthemosttypicalapplicationofnaturaldigitalcurrency,oneofthemostsuccessfulisthecurrency,and,morerecently,theentericfangsuddenlyrises.Butinfact,astheunderlyingbasisofdigitalcurrency,blockchainattachesgreatimportancetotechnologyhasledtothefinancialsector.Manyfinancialinstitutionshavewithblockchaincompaniescooperate.
2 Characteristicsoftheblockchaintechnology
2.1 Security
Blockchaintechnologyreliesonthewayofencryptionauthenticationtoverifytheidentityofallpartiesinvolvedintrading.Thiswillensurethatthe"fake"becausewithouttheconsentofthepartiescannotbeaddedtotheblockinthechain.Eachnewdealsbeforebeingaddedtotheblockchainhavetogothroughcomplexmathematicalcalculations,thisisknownas"hash"computingbasedontransactiondata,andthetransactiondatanotonlyincludeinformationaboutnewdeals,andbeforetheresultofthedeal,andthisfeatureensurestheimmutabledatabefore,becauseoncesomeonewantstomodifytheprevioustransactiondata,thiswillaffectthehashvalueofthecurrenttradingandcopyitwithotherdatadoesnotmatch.
2.2 Transparency
Becauseofitsnature,chainblockisadistributeddatabase,atthesametimemaintainandsynchronousmultiplenodes.Inaddition,thetransactiondatamustbeconsistenttobeaddedtotheblockinthechain.Thismeansthatsuchadesignmakesmorecounterpartiescanaccessthesamedata,socomparedwiththedatabaseisplacedbehindthefirewallandcannotbeoutsideyourorganizationviewofthetraditionalsystem,greatlyenhancethetransparency,sotospeak.Blockchainthetransparent,safetyandefficiencyofthetechnologyitselfmakesitbecomeausedtoreshapebylowefficiencyduetohinderthedevelopmentofthebusinessmodelandpromotetoestablishinthepresenceofthebusinessmodelofdistributedmarketandtechnicalperfectchoice,relativetothatofbeforeadominantpositioninthecentralizedmodel.
2.3 Highefficiency
Conceptually,itseemstokeepmultipleandblockchainexactlythesamecopyofthedatawillnotbemoreefficientthanmaintainingacentralizeddatabase.Inreality,however,manyofthepartieshaveestablishedcontainthesametransactioninformationofduplicatedata.Thisisbecauseoncethesametransactionrelateddataconflicthappenedornotmatch,willcausethepartieshavetospendalotoftimeandenergytomanuallycheckandmodification,theerrorprobabilityisnotlowandoftenrequiresalotofcost.Andthedistributeddatabasesuchasblockchainiseffectivelyavoidthehappeningofthiskindofmistake,thusgreatlyimprovetheefficiencyofthetransaction.
3 Digitalcurrency
Theemergenceofblockchaintechnology,tosolvetheproblemofdigitaldistribution,circulationofcurrencyandprovidesanewAngleandmayholdproblem.Bitcoinsandothercommunity"coin",avarietyofvirtualenterpriseinternal"currency",istheadventoftheeraofdigitalcurrencystruckthepreludetothefuture,theworldwithinthescopeofthetechnicalverificationandtrialanderror.
Digitalcashiscommunityrecognitionforendorsement.Bitcoinscanbesaidtobethefirstdecentralizeddigitalcurrency.InBitcoinscommunityandthesupportofmanyBitcoinsbelievers,thecurrencyhasitsvalue,alsoattractedsomeusersinvolvedintradinganduseoutsidethecommunity,accordingtomediareports,therearearound1400worldwideentitymerchantscanuseBitcoinstopay,almost600ofEurope,theUnitedStateshasmorethan400.
Thecurrencyusedbytheunderlyingtechnology,calledblockchaintechnology.Itimplementsseveralobjectives.Oneistosettherules.Bitcoinsbyblockchaintechnology,thealgorithmandprogramagreedtoreleaseamountandway.Communitytendnottolikeotherorganizationshavestrongcentralorganizationandactionability,opinionsandinterestsarerelativelydispersed,inthiscase,theblockbytheprovisionsoftheencryptionalgorithmtoformchaintechnology,formulatedthemandatoryrules,createsthetrustbeyondhumanfactors.Thesecondislimitedamount.Communitydigital"currency"mandatorysetamountanddistributecharacteristicsofspeed,makingearlyholderscanbeheldforthecommunitytoexpand,thenumberofincrease,theincreaseofeconomicactivitieswithinthecommunity,andgetmoreandmoreinterests,thecharacteristicsoftheeconomicsmakesdigitalcurrencyandpossessestheadvantagesofasimilarstake,makesthevalueofcommunityconsensusexpectations,producedjointlyendogenouseconomicpower.
Currencyrelativeanonymity,decentralization,thecharacteristicsofopensource,distractedthelegalrisksandresponsibilities.Itmakethewholeeconomicsystemhasextremelystrongvitality.
Atpresent,therearehundredsofcommunitydigital"c"onthemarket,usingthesamecurrency,withinthesamecommunitycanmakethecommunityconsensusontheeconomicinterestsoftheinterests,andthroughtheexchangeandtradingcommunity,leavebehindtheeconomicactivitywithinacommunity,thecommunityhasitsowneconomicresources,attractmoreexternaluserparticipation.Enterprisevirtual"c"istheuseoftechnologyofblockchain,stilllagsbehindthatofthecommunity.Enterprisevirtualgamecurrency,integral,Q-coins,stored-valueCARDS,etc.,inalargersense,cansaythatispartofthedigital"money",butthiskindofdigitalcurrencyoftenandchainblocktechnologyandhasnothingtodo,tradingisverysinglespecies,unabletoformtherealecosystems.Atpresent,somestart-upshavebeenrelatedtotry,suchasFactom,basedontheirownsoftwareservices,haveissuedconvertiblevirtual"c"andcompaniessuchasBitGold,GoldPay,arealsotryingtovirtualdigitalcurrencybasedonGoldtoissueitsown.
4 ThedevelopmentofBitcoins
4.1ThedefinitionoftheBitcoins
Currencyagreementincludesbuilt-inalgorithm,thisalgorithmcanadjustthenetworkfunctionofmining.Minersmustfinishthetask-inthecurrencynetworksuccessfullyrecordedthedifficultyofablocktradingisindynamicadjustment,miningnewBitcoinsoutofeveryfouryears,theagreementwillhalvetheminingrate(andthusalsoisthesecondtimetoslowdownin2016),andrestrictstheminingofthecurrencyamountforafixedvalue:
21million.Asaresult,thenumberofBitcoinsincirculationaccordingtothepredictionresultiseasily,willreachthevaluein214O.Duetotheissueofcurrencyrateisdecreasing,inthelongrun,thecurrencyisacurrencydeflation.Therefore,bymorethanexpectedreleaserateto"printing"anewcurrency,inflationisimpossible.
4.2ThederivativesofBitcoins
BTSisapolymorphicdigitalAsset,whichmeansitcanbeevolvedintoavarietyofdifferentformsofbitsAssets(BitAssets).Bitworkssimilartothecurrencyassets,butsomeoptimizationandnewrulestomakebitstockstosupportitsvalue.BitsharesinadditiontohaveallthecharacteristicsoftheBitcoins,alsoprovidedsomenewfeaturesmakebitsharesorbitsassetsderivedfrombitsharesmorethan24hoursaftercangetdividends,thedividendfromtheminingrewardsandpartofthetransactioncosts,willbeawardedtoeachblock,andawayofnotincreasingnetworkburdendistribution.Bitstockdevelopmentisthedevelopmentofthecurrency,theassetscanbederivedfromitsthroughits$withgold,silver,andotherassetstohook,butthevalueofitsexistencehasbeencontroversial,especiallyinthecaseofthecurrencymarketismoreandmorematurenow.LitecoinisasimilartothecurrencyoftheP2Pcurrency,84millionLTC.Theexpectedoutputisfourtimesaslargeasthecurrencymonetaryaggregates.ArguablyWrightcoinseemstoplayaroleofBitcoins,butbecauseofthecurrencyitselfdivisible