Blockchain circle

One stop hot information platform

About us:

Blockchain circle provides the latest information about blockchain, digital currency, digital wallet, exchange, metauniverse, bitcoin, Ethereum, contract, financial management and so on, and always pays attention to the latest market...

Jujing digital, blockchain technology, and vernacular blockchain

Time : 28/06/2022 Author : wb7zpr Click : + -
        Blockchain is usually defined as a decentralized distributed accounting system, in which nodes do not need to trust each other and jointly maintain an account book through a unified consensus mechanism. Since it is distributed data storage, there is a problem of data synchronization between various nodes. Whose data is subject to and whose data is reliable? We can understand this problem from another angle — Since they don't trust each other, then "there is no need to trust". The technical solution of "no trust" is to first assume mutual distrust, then each node can store a complete data record, and each new transaction needs to be re verified.
 
        When a node rejoins the network and needs to synchronize data, it can synchronize data from other nodes and recalculate and verify, which solves the problem of trusted data in distributed storage. In order to make data verification efficient and reliable, the blockchain system must have a good data structure to match. Transactions in the system are packaged into blocks. During the operation of the system, the blockchain can only generate one block at a time, and each block contains digital vouchers to verify that it is effectively linked to the previous block. In this way, blockchain is composed of "blocks connected together according to cryptographic algorithm".
 
        Such a structural design can easily verify whether the data has been tampered with, track history and ensure data security. What about the decentralization of blockchain? Each node of the system forms a huge P2P network. Each node executes, verifies and records the same transactions respectively, and stores the completed blockchain data locally. At the same time, there is no centralized organization to intervene in the implementation sequence and results. In this way, the goal of "decentralization" is achieved. Consensus mechanism, i.e. consensus agreement. Through mathematical operation, calculate a random number that meets the rules, that is, obtain the bookkeeping right this time, and then send the data that needs to be recorded in this round, which will be stored together with other nodes in the whole network after verification.
 
        In order to encourage everyone to keep accounts efficiently and correctly, the system will reward the accounting nodes accordingly, so that everyone will actively participate in and contribute computing and storage resources to compete for the right to keep accounts. At the same time, other nodes verify the block results of this node, and accept this block after passing. Because it can be mutually verified, the reliability of the data is also guaranteed. POW workload proof is the most popular algorithm at present. It is applied to the consensus mechanism of most cryptocurrencies, and each version has its own differences. In order to ensure that the consensus mechanism is widely recognized, its design should be safe to ensure that the data stored by each node in the whole network can reach a consensus; There should also be an effective incentive mechanism to motivate miners to maintain the operation of nodes.
 
        Finally, a simple summary with an example. To transfer money to B, a needs to create a transaction and determine the payer, payee and transfer amount information. A post the "transaction" to the blockchain network after confirmation. This transaction information will be verified by the node, packaged into the current "block" and broadcast to other nodes, so as to reach a network wide data consensus through the consensus of other nodes. When a can query this transaction in the blockchain, B can think that he has received a's transfer. In particular, cryptocurrency is only a small application of blockchain technology, rather than the real value of blockchain technology. Some universal values transmitted by blockchain technology, such as fairness, justice and valuable exchange, may be the direction that all blockchain people should pursue.
 
        
Previous:Seventh: in the blockchain world, helping the elderly cross the road will not be corrupted?
Next:No more

Related articles:



© 2005-2032 | Blockchain Circle & & All Rights Reserved    Sitemap1 Sitemap2 If there is infringement, please contact us at: