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What are the main characteristics of blockchain?

Time : 10/03/2022 Author : lvdo3n Click : + -
        The biggest feature of blockchain is "decentralization", which means that the storage, update, maintenance, operation and other processes of data will be based on the "distributed ledger", rather than the total server of the "centralized organization". In this way, we can avoid all kinds of adverse consequences caused by mistakes of "centralized institutions" and solve many problems we encounter in real life, such as: centralized server downtime, hackers, or unreliable centralized institutions. This also starts with bitcoin, which is the first application of blockchain. The original intention of bitcoin design is a decentralized, point-to-point e-cash system.
 
        After bitcoin was well known, the underlying technology blockchain behind it gradually attracted attention. Therefore, we can say that decentralization is the fundamental characteristic of blockchain, and it is also the ultimate ideal of blockchain. The content on the blockchain can only be recorded on the chain after complex operations are carried out using the principle of cryptography. Moreover, the content of the latter block on the blockchain will contain the content of the previous block, which makes it very difficult and costly to tamper with information. This is the "tamper proof" feature of blockchain. The "tamper proof" feature of blockchain means that once the data is written into the blockchain, no one can change the data information without authorization.
 
        This feature is naturally suitable for many fields, such as money supervision in the field of public welfare and charity, efficiency improvement in the field of audit, copyright protection, medical undertakings, academic information certification in the field of education, and so on. As we said before (in the first phase), the blockchain is a "blockchain data" structure, which is similar to a linked "iron chain". The content of the next link contains the content of the previous link, and the information on the chain is linked according to the time sequence, which makes any data on the blockchain can be traced to its origin through the "blockchain data structure", which is the "traceability" of the blockchain. This feature has a wide range of applications. In addition to the public utilities, auditing, copyright protection, medical treatment, academic certification and so on, another important application is &mdash& mdash; Supply chain.
 
        Based on the traceability of blockchain, products are recorded on the blockchain from the moment of initial production, and subsequent transportation, sales and regulatory information will also be recorded on the blockchain. Once there is a problem, you can go back and see which link went wrong. In this way, the probability of fake vaccine events and toxic milk powder events will be greatly reduced. Blockchain is both open and anonymous. Openness and anonymity seem to be contradictory. However, we say that the advantage of blockchain is that it can meet the openness and anonymity of data at the same time. The openness and anonymity of blockchain also stems from its fundamental characteristics &mdash& mdash; Decentralization.
 
        Because blockchain is decentralized, all network nodes can participate in the record maintenance of data (except alliance chain and private chain), so its data must be open. Only when it is open, can we ensure that everyone can participate, ensure the security of data, and prevent others from tampering with data in broad daylight. With the development of blockchain technology, Ethereum appeared after bitcoin system. Ethereum, a blockchain, is more advanced than bitcoin. Ethereum and bitcoin have different preset trading system operations. Ethereum is an open-source, programmable blockchain. Generally speaking, Ethereum system is equivalent to building a relatively complete "infrastructure", similar to Android and apple. Application developers can develop software on this system.
 
        Therefore, we say that blockchain is a technology with great potential. As long as we can fully discover and make use of its openness, it can completely jump out of the limitations of bitcoin, which is a single service for digital currency, and then be applied to many application scenarios. The main function of openness is to protect the safety and reliability of data. However, in addition to ensuring the security of data, we also need to ensure the rights and interests of nodes in the chain, that is, to protect their transaction privacy, and we can't let all nodes in the network see how much money your family has on this open ledger. Therefore, blockchain uses some means in cryptography to ensure the security of private information on the premise of full disclosure of data, which is the so-called "anonymity".
 
        (the hash operation, asymmetric encryption, private key and public key we talked about in the bitcoin chapter are the so-called cryptographic means). In real life, the "anonymity" of blockchain can play a great role in protecting personal privacy. The most typical is online shopping. Nowadays, online shopping is actually very unsafe. What we buy, our name, address and phone number will be provided to the seller. If you give bad comments, some sellers will send you horrible things to intimidate you. As for the "anonymity" based on blockchain, the seller knows your address but does not know who you are, which protects our personal privacy.
 
        The "decentralization" of blockchain determines that there is no "centralized" authority in the blockchain world, which makes blockchain highly democratic. The democracy of blockchain is reflected in that blockchain adopts a consensus mechanism, namely "consensus mechanism", which enables all nodes in the whole system to store and update data freely and safely in this system based on the voting and trust of nodes. Voting, trust and consultation belong to the category of "democracy". From this perspective, the "democracy" of blockchain is expected to break the existing production relations: in the ecosystem of blockchain, the power to maintain the system is widely distributed to nodes, and all nodes are equal. Based on the consensus and trust generated by voting, they play their role in the system and contribute to the system to obtain rewards.
 
        
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