区块链与数字货币研究外文文献翻译 2017Word文档格式.docx

区块链与数字货币研究外文文献翻译 2017Word文档格式.docx

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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"

mandatorysetamountanddistributecharacteristicsofspeed,makingearlyholderscanbeheldforthecommunitytoexpand,thenumberofincrease,theincreaseofeconomicactivitieswithinthecommunity,andgetmoreandmoreinterests,thecharacteristicsoftheeconomicsmakesdigitalcurrencyandpossessestheadvantagesofasimilarstake,makesthevalueofcommunityconsensusexpectations,producedjointlyendogenouseconomicpower.

Currencyrelativeanonymity,decentralization,thecharacteristicsofopensource,distractedthelegalrisksandresponsibilities.Itmakethewholeeconomicsystemhasextremelystrongvitality.

Atpresent,therearehundredsofcommunitydigital"

c"

onthemarket,usingthesamecurrency,withinthesamecommunitycanmakethecommunityconsensusontheeconomicinterestsoftheinterests,andthroughtheexchangeandtradingcommunity,leavebehindtheeconomicactivitywithinacommunity,thecommunityhasitsowneconomicresources,attractmoreexternaluserparticipation.Enterprisevirtual"

istheuseoftechnologyofblockchain,stilllagsbehindthatofthecommunity.Enterprisevirtualgamecurrency,integral,Q-coins,stored-valueCARDS,etc.,inalargersense,cansaythatispartofthedigital"

money"

butthiskindofdigitalcurrencyoftenandchainblocktechnologyandhasnothingtodo,tradingisverysinglespecies,unabletoformtherealecosystems.Atpresent,somestart-upshavebeenrelatedtotry,suchasFactom,basedontheirownsoftwareservices,haveissuedconvertiblevirtual"

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