The glory and dream of the bigwigs in the currency circle (Part 7)

There is no consensus within the community on the plan for expanding the block size of the Bitcoin network. Some people advocate expanding it to 2M, some advocate expanding it to 8M, and some advocate unlimited dynamic expansion as Bitcoin develops.

If you choose the delicious fish, you cannot avoid the entanglement of fish bones.

This is the disadvantage of decentralized autonomous organizations. Network upgrades require community consensus, and the efficiency of reaching consensus is often extremely low.

Power comes from the barrel of a gun. Whoever has computing power in his hands has the right to speak.

The two mining pools under Bitmain deployed a large number of server farms and cheap labor in the early stage, using lower coal to power the operation of their computers and create large mining pools. At its peak, they occupied 42.5% of the computing power of the entire Bitcoin network and monopolized half of the Bitcoin mining industry.

At the same time, Bitmain also sells computers made with custom chips, which are designed to cope with Bitcoin's increasingly complex algorithms.

The powerful economic force of the "Wu Empire" directly affects the political power of this block expansion debate.

In 2017, the cryptocurrency market rose strongly. In an absolute seller's market, Bitmain made great strides in fame and fortune.

Standing in Beijing Science Park, 31-year-old Wu Jihan looked at the rising mining team and wondered if he would remember his glory and dream of being admitted to Peking University at the age of 19.

At the same time, CZ, who had been working in the cryptocurrency circle for several years, decided to agree on a white paper in Chinese and English to establish a new exchange, whose name is a combination of binary + finance.

In 2017, CZ founded the exchange in Shanghai.