Before reading this book, let’s first understand what is the relationship between Ethereum and Bitcoin? What are the main similarities and differences between the two? After Ethereum went online, what impact did it have on the development of Bitcoin?
According to reports, Ethereum and Bitcoin are the two major public chains in the current blockchain world. As mentioned in the book, he founded Ethereum after noticing that blockchain was unable to serve as a foundation for decentralization due to its difficulty in scaling. square. Therefore, Ethereum is the inheritance and improvement of Bitcoin.
As public chains, Ethereum and Bitcoin have many things in common, such as decentralization, openness, autonomy, etc. However, Bitcoin focuses more on financial applications, and it is difficult to extend it to other applications.
In contrast, Ethereum is primarily used as infrastructure for decentralized applications. It can create many conditions for building an application ecosystem and expanding on-chain capacity.
For example, if Bitcoin is a financial app on your phone, Ethereum is similar to an app store. The launch of Ethereum has had two impacts on Bitcoin:
On the one hand, it is complementary, because it proves that blockchain has a lot of practical application space, which also increases the popularity of Bitcoin to a certain extent; on the other hand, it is a substitute, because some people have tried to use it in the past Bitcoin. Building an application ecosystem on the basis of Ethereum, but this responsibility later fell on the shoulders of Ethereum.
Proof of Stake is a consensus mechanism that determines the ownership of accounting rights in the blockchain. The principle of proof of stake is similar to the equity system. The number of shares a shareholder holds in the company determines their voice. In a blockchain using the PoS mechanism, the right to speak is determined by equity pledge.
Unlike the proof-of-work mechanism used by Bitcoin, the proof-of-stake mechanism will greatly reduce the need for computing power, and the transaction efficiency it can support will also be greatly improved.
Previously, due to deficiencies in computing power and transaction efficiency, Bitcoin was unable to build a rich application ecosystem, and naturally it was unable to assume the responsibility of replacing Web2. However, after applying proof of stake, the efficiency of the blockchain will be greatly improved, which also makes the idea of Web3 possible.
What role can blockchain and cryptocurrencies play in the construction of the online world? What role does the proof-of-stake mechanism play in this?
The existing Internet is centered on large platform companies. Whether it is content, data or user identity, the ultimate ownership lies in the hands of these platforms.
As a vision of the Internet, Web3 aims to help users "take back" control of the network from large platforms. Based on blockchain, various decentralized applications can be built. This way, any centralized platform can no longer control users.
Cryptocurrency can serve more as an incentive for the future Internet ecosystem. It helps users build autonomous organizations without centralized controllers.
Of course, before blockchain and cryptocurrencies can take on these responsibilities, a prerequisite is that their operation must be low-cost and efficient.
Currently, the proof-of-work mechanism used by Bitcoin clearly cannot support this. In contrast, after the introduction of PoS, the above vision will have greater possibilities.
In the book "Proof of Stake: The Birth of Ethereum and Blockchain Philosophy", he considered the reshaping effects that digital intelligence technology, the new generation of Internet, and the metaverse may have on the economy.
Specifically, this will help on two levels:
At the "technical" level, many inspiring ideas have been put forward, such as using the Harberger tax to allocate public resources, using secondary financing to identify support projects, etc., which all provide information for building a new network ecology. Very valuable inspiration.
At the "Tao" level, as an Internet thinker, I have done a lot of in-depth thinking on Web2 and early blockchain issues. These reflections can help us better look at various Internet problems and find solutions.
So, what will the Web3.0 era look like? What impact will it have on real life?
The biggest change right now seems to be personal control over the internet. In the Web2 era, people have no say over their content, data, or even identity. In the Web3 era, users can ensure that they have their own identity through decentralized identity and other methods.
Overall, blockchain is an important technology for realizing Web3. Of course, Web3's technologies are more than these, and there are other technologies such as privacy computing.
Now many people are willing to put Web3 and the Metaverse together, but say: "I personally disagree. In fact, the two are not necessarily related. For example, the masterpieces of the Metaverse, "Second Life" and "Minecraft" are both based on Web2, if we insist that the Metaverse is Web3, then these do not belong to the Metaverse."
In fact, abroad, and Web3 are two completely different concepts. Matthew Ball (the "Father of Metaverse Commerce") was the first to popularize knowledge of the Metaverse. He said that the Metaverse is a virtual world that emphasizes the concepts of VR and AR.
Web3 emphasizes user ownership of the network, and the two are fundamentally not the same concept. But it is undeniable that many Metaverse projects are now based on Web3 and use tokens as incentives for projects. Therefore, there is a crossover between these two concepts.
As for artificial intelligence, it is essentially a technology that can be used in Web3 and Web2. However, there are many possible application combinations between the two. For example, in artificial intelligence-generated works, the ownership of intellectual property rights in artificial intelligence-generated products is still highly controversial. However, if you use Web3 related technologies, this problem can be solved to a certain extent.
Operation/typesetting: He Chenlong
标签： #Blockchain #Ethereum #Bitcoin
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