Review of the hottest block chain and power market

  • Detail

"Blockchain and electricity market" Review

the decentralization, openness, intelligence and sharing of blockchain technology are consistent with the concept of energy interconnection. The industry generally believes that its application in energy interconnection will effectively support the open interconnection of multi-type energy systems and the wide and deep participation of multi-users

our eighth group introduced the background of blockchain technology, the basic knowledge of blockchain, the application of blockchain in power market transaction settlement and congestion management, the current application examples of blockchain and the policies of various countries. For the class discussion, let's briefly review and supplement

part1 class Q & A review

1. Is the application of blockchain only in bitcoin

a: blockchain technology is accompanied by bitcoin. The first blockchain specifically records the transaction (transfer) records of bitcoin; Then someone began to use blockchain technology to create more kinds of digital cryptocurrencies; Then, some researchers used blockchain technology to realize the idea of "smart contract" put forward by predecessors, and blockchain began to appear in many experimental applications in the financial field; Now, all industries have begun to explore the application of blockchain technology

2. Will obtaining bitcoin by mining lead to power exhaustion

a: first of all, the mine manager will control the temperature, humidity and placement of the mine to improve the mining efficiency of the mine. In addition, due to the huge power consumption, the mine is usually located in places where the power is very cheap, such as near the wind farm in Inner Mongolia and near the hydropower station in Sichuan. These places are often "power abandonment" areas, where the phenomenon of wind, light and water abandonment is serious, and the mine makes maximum use of these power abandonments, Thus, high benefits will be generated, and then bitcoin will be continuously exported and converted into foreign exchange. Therefore, it can be said that mining can effectively use excess electric energy in a certain sense, and the phenomenon of power failure through mining is unlikely to occur

3. Who will benefit from the application of blockchain in the electricity market

a: blockchain can exist in the trading process of power market in the form of public chain, private chain and alliance chain with different degrees of "decentralization". The adoption of private chain in the internal finance of electric power is conducive to the transparency of internal management in Colleges and universities, and the recyclability of paper products to improve the efficiency of liquidation and audit; The trading entities in the power market adopt alliance chains, power plants, power companies, power sales companies and other entities to reach contract terms, improve efficiency, and facilitate inquiry and statistics; The public chain is adopted between power selling companies and users to automatically read, measure and charge meters, improve transparency and credibility, and avoid disputes. Therefore, all parties can be said to be beneficiaries

4. What are the difficulties of blockchain encryption technology

a: the encryption of blockchain is asymmetric encryption. The message encryptor has the private key to encrypt the information summary, and the message receiver has the public key to decrypt the information, so as to verify whether the message has been modified. The private key can deduce the public key, but the public key cannot deduce the private key. Therefore, once the private key is lost or stolen, the original owner will lose all the value of the private key

5. Does the company know the transaction records after applying blockchain

a: there are two kinds. If it is weak centralized management, it needs security verification, and the power company knows the transaction records; If the optimal algorithm can limit the output, the power side does not know

6. Is there a conflict between the cumbersome nature of the blockchain password on the resident side and the convenience of selling electricity

a: at present, blockchain cannot give consideration to "high efficiency and low energy", "safety" and "decentralization"; Under the premise of ensuring security priority, the tediousness of "password" is necessary; Therefore, with the extensive development of the application of enterprise blockchain, the next step is to optimize and solve the relevant problems for the blockchain needs of ordinary people

7. Measures to curb the decline of bitcoin price in China

jointly promote the acquisition and implementation of energy storage projects a: in view of whether China will introduce certain policies to curb the decline of bitcoin price, in fact, China's attitude towards digital currency is similar to that of the United States, and bitcoin has always been cautious or even somewhat resistant. The Central Bank of China said that bitcoin is not issued by the state, has no legal and mandatory monetary attributes, is not a real currency, and cannot and should not be used as a currency in the market. Therefore, China will not introduce policies to control the market price of bitcoin at this stage. However, mining is not prohibited in China, and countries have always attached great importance to blockchain technology

part2 after class supplement

what is "mining"

"mining" is the process of accounting and generating bitcoin. Professionally speaking, the whole mining process is a process of constantly calculating and hashing. The specific process is as follows:

(1) after receiving the user's transaction information, the miner first verifies it, then constructs the transaction Merkel tree, obtains a Merkel tree root hash value, and packs it into the block header. For miners, the best choice is to package transactions with high handling fees first, so as to maximize their interests

(2) fill the block header to form an 80 byte bitcoin block header

(3) perform double sha256 operation on 80 byte block header information to obtain a 32 byte hash value. Then judge whether the result is less than the difficulty value of the current block. If it has been reached, the block is a legal block. The miner adds it to the main chain and then begins to calculate the next block. If it is not less than the current block difficulty value, continue to replace the random value in the block header and re perform double hash operation on the block header

private key loss

in order to prevent private key loss, secret sharing mechanism can be used to protect the private key of the node. In the process of secret sharing, each participant uses his private key share with a maximum length of more than 210 meters to identify himself, and uses his private key as the secret share. He can distribute the secret share at the same time as the secret distribution without any prior processing. In the process of private key reconstruction, in order to prevent mutual deception among various participants, any participant can verify whether the share submitted by a participant is valid. The reconstruction of zhongtaishan sports group has the ability to produce 100000 carbon fiber composite bicycles per year, and there is no need for a real secret share, so it not only ensures high processing efficiency, but also does not need to maintain a safe channel

Copyright © 2011 JIN SHI