In 2019, blockchain technology triggered a great change in the financial industry, which is the first year that the mainstream society began to pay full attention to digital currency and virtual assets. It should be noted that blockchain is undoubtedly one of the most subversive technologies in the Post Internet era. The fundamental reason for the subversion of blockchain lies in the technology itself, although people’s understanding of blockchain is still at a very superficial and superficial stage.
Many people refer to blockchain, only think of digital currency and transaction, think blockchain is digital currency, blockchain is bitcoin is Nakamoto
In fact, digital currency is just one of the technologies in blockchain, for example: like email is only one of the Internet tools; QQ is only one of the Internet Social Software
Once upon a time, bitcoin’s “point-to-point e-cash system” was a watershed of currency freedom. For the first time in history, people can safely exchange value without a third party or trusted intermediary. Bitcoin has achieved this feat by using distributed records.
As the value of bitcoin continues to grow, a large number of companies are preparing to build mines. These companies have developed specialized chips (“ASICs”) and built huge server clusters to exploit bitcoin. The emergence of these huge mining companies has promoted the bitcoin gold rush, making it difficult for ordinary people to contribute to the network and obtain returns. Their efforts are also beginning to consume more and more computing energy, leading to increasingly serious global environmental problems.
This is because bitcoin ten years ago was just the most elementary and original sample of blockchain application technology. At present, many digital currencies blindly limit digital currency and even blockchain technology to Nakamoto’s world. But most people know that the Internet is changing with each passing day. They don’t know that the computing power, transmission technology and encryption technology of digital currency are all changing dramatically.
Ten years later, PI is able to allow ordinary people to mine (or obtain cryptocurrency rewards by verifying transactions of distributed transactions). PI uses other types of consistency algorithms and is based on stellarconsonsonsusprotocol (SCP) and an algorithm called federatedbyzantineagreement (FBA). This algorithm does not waste energy, but they need to exchange many network messages so that nodes can reach a consensus on what the next block should be. Each node can independently determine whether a transaction is valid, for example, according to the encryption signature and transaction history to determine the permissions for transformation and repeat costs.
In the early days, we could only dial up the Internet through the bulky pure screen desktop computer ADSL, but now we can use optical fiber, 4G, 5g and other means to let the notebook and mobile phone surf the Internet, and keep on technological innovation. By contrast, the advantages and disadvantages of blockchain application technology are obvious.
In fact, people who really understand the essence and essence of blockchain will not regard the price of bitcoin or PI as the key point of development, they will start from technology to view and develop blockchain. In the current market state, these people are still there, but the number of these people is not large. However, it is these few people who may really grasp the future of blockchain.
It is believed that there will be more application technology ecosphere based on blockchain technology in the future, which can realize free flow of technology, complement each other and self renew. Just like pi coin, there will be many landing applications in the future. In my opinion, PI coin should be like the online and offline entity merchants who join the application such as meituan. Every entity and virtual entity supports PI coin.
The emergence of PI is that we are faced with the early stage of the revolution of the whole financial system. Mining by PI friends is just like eating every day. It’s just a basic task. There are many meaningful things to do and realize. The wheels of history roll forward, and the trend of the times is vast