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Future Blockchain Economy Infrastructure Bitcoin-primarily based SATOSHI+ Consensus Algorithm Optimal Solution for Decentralization of Smart Contract Public Chain Authority

Current Social Problems Currency Problems

Wealth refers to all the goods and offerings which can meet the wishes of humans in any respect levels in society, at the same time as cash does no longer. On the one hand, money is the premise to engage in financial sports.

Without money as a size tool, there may be no manner to assess the contribution of people to the whole society, and it is not possible to put into effect various transactions efficaciously.

Therefore, the distribution of money in society will cause the "redistribution" of social wealth. The perfect manner of money distribution should replicate every person's output with out bias, however this isn't the case.

First, vital banks of numerous international locations produce maximum of the currencies. The primary banks decide the full amount and the way to issue the currencies primarily based on their research. However, irrespective of how complete the crucial bank’s research is and how proficient the economists employed, it is the incomplete gazing operation of the society from a small number of people, and their inputs and outputs cannot be exhaustive. Therefore, society is a chaotic system, and the slightest loss may be one thousand miles away. It continues to be doubtful whether the control is effective.

Second, the transmission path of money is from center to people. From the angle of fairness, currency need to be distributed to every body in a way that fits the individuals. From the viewpoint of justice, the bad must get more money than they've, that could assist them out of the woods and is extra conducive to social stability. Because the crucial bank produces the forex, its transmission path can handiest be the central bank >huge banks>small banks>huge companies>small organisations. The toward the middle, the easier it's far to get more money, and the farther faraway from the middle, the much less money it gets, which creates a gap between the rich and the bad. Furthermore, because of the system, the vital financial institution needs to problem more currencies to make up for the emptiness due to the fact the terrible do now not have sufficient money, making the disparity between the wealthy and the bad retain to go into a vicious circle.

Financial Issues

To expand enterprise, banks will constantly launch new credit currencies. Because there's only one criminal forex in a rustic, exclusive banks' credit score business with one of a kind risks produces the identical credit score forex. When a particular credit project has a trouble, and the corresponding credit score foreign money has gone through sufficient circulate, and no person knows which account the credit score corresponds to, and powerful risk slicing cannot be finished. It is as much as the important financial institution to cowl all credit risks. A monetary crisis will get away whilst risks gather, and even the significant financial institution cannot undergo them. The reason of economic engineering problems lies in the circulation of dangers, and it's far not possible to correlate risks and credit forex one-to-one.

Contract problems

A settlement is the smallest purposeful unit for the operation of contemporary society. Even a purchase conduct in each day life is a verbal agreement at play in the back of it. Although retaining a agreement can substantially enhance the performance of social collaboration, humans are trapped in-sport dilemmas inclusive of "prisoner's predicament" and "tragedy of the commons." In truth, many contracts cannot be completely fulfilled after being concluded. It no longer only reasons widespread losses to the birthday celebration that abides by using the regulations however might also bring extensive fees to the breaching party. How to establish an unbreakable contract at low cost and evolvable, and construct an company primarily based on this, to serve the society, is also an essential situation that wishes to be resolved inside the destiny.

Introduction to Bitcoin

Bitcoin is a social test based totally on blockchain technology started via Satoshi Nakamoto and others in 2009, and it has been jogging correctly for more than ten years. Bitcoin has been giant due to the fact that its born.

Building Trust by way of Using Mathematical Logic Reasoning

Bitcoin makes use of asymmetric encryption era to determine belongings possession and PoW (Proof of Work) to resolve the very last consistency problem. The use of chain statistics shape ensures the non-tampering functions of data and the usage of P2P networks to make sure the openness and transparency of statistics. This device builds a trust gadget that does not require endorsement from any organization or organisation primarily based on arithmetic and common sense.

Bitcoin has been walking efficiently for greater than ten years. Instead of being compromised with the aid of any shape of hackers, it has attracted an increasing number of people to take part, which shows the reliability of the mathematical good judgment at the back of it.

Prove the Viability of Free Banking
As referred to in advance, there are drawbacks in how the valuable banks difficulty the currency. Therefore, we vicinity our hopes on unfastened banks, searching foward that each banks freely issuing its currency. Hayek believes that foreign money would not should be issued by the nation, and unfastened banks can provide better forex. Nevertheless, Economists of old age are constantly worried that non-state issued foreign money would possibly have numerous problems.

Bitcoin, as a social test, proves that free banking is possible. Bitcoin can offer a feasible course for future foreign money reforms. It reasonably uses mathematical logic to suggest forex and make sure that the issuance and movement of foreign money are open, obvious, and immutable.

Inspiring the Emerge of Programmingism
Programmingism refers back to the dedication of guidelines inside the shape of code to make certain the no one can violate the regulation sociological thinking. Inspired by Bitcoin, many inheritors consider that not simplest the "rule" of transactions may be confirmed mathematically, however all "operable and unambiguous rules" can also be showed mathematically.

Many tasks that help clever contracts, represented with the aid of Ethereum, have emerged one after any other. Although plainly there are monopoly and overall performance issues, they offer an powerful platform for practising programmingism.