Why did Ethereum choose PoW+PoS hybrid mechanism?

The market value of the whole encrypted digital currency exceeds $654.38 billion. As the second largest digital currency in encrypted digital currency, the market value of Ethereum has also exceeded $20 billion. Among the three trading platforms in China, Huobi.com and OKCoin have opened Ethereum trading, and more and more smart contracts are based on Ethereum. The whole ecology is growing.

On May 26th, Vitain, the founder of Ethereum, as a heavy guest, Ma Liyun, Ma, and other Internet bigwigs boarded the stage of "Summit Dialogue" of 20 17 Digital Expo, and once again popularized the blockchain and Ethereum to the world.

What is a good blockchain?

Vitalik first mentioned in his speech that the reason why the blockchain has broad prospects is that many industries have ridges at present, so the decentralization of blockchain has its place. "The giant companies in the industry monopolize the market. For example, the microscopic consequence is that the price will be higher and higher, and many unequal treaties will appear. Monopoly will continue to bring a new round of monopoly, and there is no way to encourage it to develop effectively. "

Since Vitalico came, there has been an obvious possibility. What is a good blockchain application? A good blockchain application must first solve the problem of coordination, coordination between different companies, full interaction between different entities and institutions, and at the same time, it cannot cause monopoly problems.

"* * * Enjoy the service that connects the world in the first step of economy, and benefit users. The second step is how to provide services instead of adopting a sustainable model. "

From PoS to power+PoS: Safer

In early May, Ethereum released a plan implementation guide, pointing out that Ethereum will start with a "hybrid" system-a bitcoin-style proof of work (PoW) mining and a PoS system Capsper.

This plan actually means that Ethereum will start to alternate between PoS and PoW systems, so that the rest will stay in PoW. At first, Ethereum considered directly converting PoW mechanism into PoS mechanism. Why make such a change? VitalikBurterin's answer is simple and direct:

"From the PoW mechanism to the PoW+PoS trading hybrid mechanism, the change is very small, which can be faster, safer and more beneficial to users. Because we want to avoid the mechanism that makes the whole system safer,

The greater value of Ethereum lies in wisdom.

With the gradual development of ICO market, smart contracts have been implemented in ICO projects. There are many voices in the society, but few really land. Vitalik also has his own opinion on many "thunder": "It's true. Nowadays, many people initiate IC, and their own projects do not need to set up a token system, but also set up tokens for ICO. Many more successful applications need further technological progress and security issues need to be solved. "

Vitalik also discussed with reporters the question of "What is a perfect digital currency". He believes that Ethereum will also have a completely different positioning and better development, such as smart contracts.

Moreover, due to the confirmation time of Bitcoin, the problem of block expansion has not been solved for a long time, and Bitcoin is far from a perfect digital currency. "It is very difficult to solve the problem of block expansion, and I don't think Bitcoin is brave enough," Vitalik said.

The smart contract of Ethereum is a completely different development direction. "Ethereum is not only a digital currency, but also a smart contract. Ethereum has many applications and many interested people, which can realize many functions and applications in many different industries. "

So what is the perfect digital currency? Vitalik did not give his answer clearly, but he said, "The next generation of blockchain needs to handle more transactions and needs a new way."

(transferred from Babbitt)

Interview Notes: VitalikButerin, a "technology prodigy" turned into a "big boy next door".

At 3: 30 pm on May 26th, everyone was waiting in the VIP room on the third floor of Guiyang Ecological Conference Center. The host repeatedly confirmed to the staff: "Mr. Vitaly Butlin will definitely come for an exclusive interview, right?" Everyone held their breath and waited for the staff to reply. "Of course, we just reconfirmed that his plane had just landed and came as soon as it got off. He hasn't had lunch yet, and he is racing against time to have two bites of rice. He will come soon. " After hearing this reply, you will surely meet the long-awaited legendary founder of Ethereum. At the same time, the hanging heart was finally put down. "It's not easy to be so young and work so hard!"

Vitaly Butrin

VitalikButerin, a 23-year-old boy, is often called a "genius boy", "prodigy" and "who beat Zuckerberg to win the world science and technology award". When he entered the VIP room, we saw a thin boy who was slightly tired, shy and whispered. Some photos on the internet seem to lack some light, but they make us feel an easy-going and "talented" big boy next door. After the English interview with Guizhou Radio and TV Station, when we wanted to exchange some more in-depth and professional questions with Vitalik, Monica, a translator specially equipped for Vitalik by Guizhou Foreign Affairs Office, told us a surprising and somewhat unexpected news. "I am worried that the translation in the professional field is not accurate enough, but Vitalik can speak Chinese, so you can communicate directly." So, we started an exclusive interview with Vitalik in Chinese.

A reporter from Guizhou Radio and TV Station interviewed Vitaly Butrin in English.

Born in 1994, 10 years old started to write code, 17 years old came into contact with blockchain. 20 1 1 worked for the online media Bitcoin Weekly, and founded BitcoinMagazine as a co-founder at the end of 201/kloc-0. It should have just graduated from college, but Vitaly Butrin is now the "big brother" in the blockchain field. Standing on the "summit dialogue" stage of the World Expo are VVIP Cloud, Horse, and. It is a "new star" who beat Facebook founder MarkZuckerberg and won the 20 14 IT software world technology award. Today, Vitaly Butrin has many like-minded intimate friends in the blockchain industry, and has also established his "originator" status.

Vitalik has a strong learning ability. When he hears words he doesn't understand in Chinese, he will always look them up in the dictionary on his mobile phone, so he learns Chinese quickly. Now he often communicates technology and other issues with everyone in the community in Chinese. When asked why Chinese is so fluent, Vitalik gave several reasons: First, because I grew up in Toronto and have many friends in China, I have always been interested in China culture; Second, my father said it was difficult to learn Chinese. He tried to teach himself, but failed. I want to prove to him and myself that I am not weak or lazy, which is why I studied combinatorial mathematics in college. Furthermore, I saw the rapid development of Bitcoin in China on 20 13, so I understand that China is very important, so I am interested in learning more about the language and culture of China. "This time, I chose to attend the blockchain summit dialogue and the global blockchain technology development forum of the Digital Expo in a tight schedule because he attached importance to China, and he saw the influence of the Big Data Summit and Guiyang blockchain in China, as well as the country's emphasis on blockchain technology development.

Vitalik delivered a speech at the Blockchain Summit Dialogue of the 20 17 Digital Expo.

Vitalik is an old China hand. He has visited China many times or participated in activities and technical exchanges in the domestic blockchain industry through the Internet. From the initial blockchain sprouting in China to the current vigorous development, he witnessed all the way; He can communicate with you in Chinese, and he has many friends and partners from China in the industry, gradually getting to know the local conditions and customs of China, and showing his love and acceptance of China culture. All these are easy to remind people of another science and technology "prodigy" who has a "fate" with China. At the age of 23, people can't help but have a lot of imagination. Maybe one day, this big boy who can speak fluent Chinese will become another "son-in-law of China"? Maybe.

As an "expert on China", Vitalik sometimes plays jokes on some people in China: at a dinner party in Guiyang, when talking about the habit of writing code, Dr. Jin Jian, a researcher at China Institute of Information and Communication, said, "I was like this when I was young", and Vitalik casually added, "I was like this when I was young" (at the age of 23, I actually wanted to express myself like this before). This scene was reproduced at the signing ceremony of the Global Blockchain Technology Development Forum. Vitalik's sentence "I was like this when I was young" made him laugh happily with the audience. The big boy is no longer embarrassed at the moment.

Vitalik reappeared "I was like this when I was young" at the signing ceremony with Guiyang Municipal Government.

Vitaly Kirdrin is a clever boy, but Vitalik's success is not only because of his cleverness, but also because of his concentration, because he can concentrate on one thing. After the interview, he found a place in the rest coffee shop, took out his notebook and began to enter his favorite coding world. At this time, if you admire him and want to get to know him, exchange business cards and chat, it is not welcome and will be rejected because he is trapped in his own thinking and logical space. The quiet boy doesn't like ordinary topics. Only when he talks about his favorite topic will he put himself into the conversation and show his enthusiasm and talkativeness, and he will be immersed in it and enjoy himself. On the other hand, if it is a general topic, although he will be very friendly, he will not have in-depth communication with the attitude of making friends like ordinary people, and will reject such "communication." Perhaps this is also the difference between him and MarkZuckerberg.

This simple-minded and sunny big boy has only Ethereum, only blockchain and only coding in his inner world. He is always immersed in his own technical world. In the interview, we can see that he still spends time drawing and thinking about development issues. Although the big boy will be polite because he has to socialize, he is most interested in technical topics. "When he talks about blockchain and Ethereum, he talks endlessly and speaks very fast, just like a general who is strategizing." Kathy described the boy's great love and enthusiasm for the blockchain in his eyes.

Vitalik is casual, open and tolerant. Nowadays, many things. When he should need an assistant to help him deal with many interviews and communication affairs, he prefers a leisure and free life. He doesn't like the company of his assistant, but prefers to be alone. A backpack, a T-shirt, a pair of casual shoes, typical IT minimalist style, so I often travel around the world alone in major conferences and become a "trapeze artist". If you meet him on the plane, you may think that he is an ordinary introverted college student, traveling around the world and experiencing the world. It is hard to think that he is such a "star" in science and technology.

This can't help but remind people of MarkZuckerberg's answer to why he wears the same gray T-shirt every day: there are 20 such gray T-shirts in his closet, because it won't produce any value to spend energy on those trivial things, he just doesn't want to waste energy deciding what to wear every day. "I am really lucky to wake up every day to serve more than 654.38 billion users around the world. If I spend my energy on something stupid and rash, I will feel that I have not done my job well. "

HenryDavidThoreau, an American writer, once said, "Life is slowly consumed by small things day after day." Many very successful people, once SteveJobs, Zuckerberg and Barack Obama, are practicing minimalism. They are very wary of wasting too much time and energy on some trivial things in daily life. Now they are VitalikButerin.

"He is a boy who is devoted to his work. He is quiet, likes to write code and learns things quickly. At present, his self-taught Chinese is not accurate in pronunciation and intonation, but his listening is quite good. As for delicious food, he is willing to try it as long as someone recommends it. He is also very considerate and sometimes sells cute. " Monica, a beautiful woman, took Vitalik to eat Guizhou Kaili sour soup fish and Sichuan hot pot, and the experience was very happy. When he was recommended as the root of Osmunda japonica. (also known as houttuynia cordata. ), he was told that this is a Chinese herbal medicine with a special taste. When asked if he was willing to try it, he readily agreed and enjoyed this special dish which made many people in northern China "afraid" and "discouraged". Sometimes he will act like a spoiled brat and call Monica, who is accompanying her peers, "lovely sister".

Cathy, who is in charge of inviting Vitalik to the Expo, has the impression that he is sensitive to some interesting things, with a low laugh point, and will laugh when he meets interesting things. When eating sour soup fish together in Guiyang, he saw the fish cooking in a hot pot and said that the fish was very poor. We just looked at it, and it looked at us. Now we want to eat it.

Talking about finding himself an actor in Baidu search, Vitalik thought it was funny and funny, because he only participated in the filming of "He doesn't have many shots".

Vitalico's schedule is always very tight. He shuttles between major conferences around the world. On the afternoon of 26th, he arrived in Guiyang from Singapore where Chinese and Western cultures are combined. Participated in the blockchain summit dialogue and global blockchain technology development forum in China International Import Expo(CIIE), visited Guiyang Big Data Exhibition Center and China International Import Expo(CIIE) Pavilion, ate sour soup fish and hot pot, and flew to the next stop-Hong Kong on the evening of 27th. Although our time in Guiyang is very short, we only have time to participate in a few activities, but Vitalik showed us another side of him, a more real and vivid side, which made us admire and love the "male god" in our hearts, worship his concentration and seriousness, and love his humor and simplicity.

A few days later, news came that Russian President Vladimir Putin met with Vitaly Butrin to discuss the future development and opportunities of Ethereum. It is said that at the St. Petersburg International Economic Forum held on June 1 ~ 3, Putin had a brief talk with Butrin after communicating with the CEOs of some large enterprises. Mr. Buterin described the potential application and development opportunities of blockchain technology in Russia. Putin supports the establishment of business ties and cooperation with some blockchain startups. Putin believes that this virtual currency can help Russia achieve economic diversification. Less than a week after the news that "President Putin supports paving the way and establishing new business relations through blockchain technology" was announced, CoinDesk reported several trends related to bitcoin and blockchain in Russia. First, the Russian central bank is preparing a new law focusing on Bitcoin and other digital currency, and it is also interested in developing a national digital currency. -This conversation is very interesting. After all, Russia once banned and lifted the ban on Bitcoin, and Russia's attitude towards blockchain technology is also very contradictory.

Vitalik, we are looking forward to seeing him again, and we also hope that under his dedication, Ethereum will bring us more wonderful things.

Vitalik has many fans in the global blockchain technology development forum.