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...

A minimalist of ＂blockchain＂ that everyone can read

Time : 25/01/2022 Author : 58mt02 Click : + -
        Recently, the concept of "blockchain" has caught fire. But what is blockchain? How does blockchain technology work? Why is it so popular with so many people?. 1. Blockchain is generally defined as "encrypted distributed accounting technology". In short, it is a new information recording technology, and it is "encrypted" and "distributed". 2. In the past, bookkeeping was "central". For example, when I deposit 100 yuan in the bank, the data of my deposit is only recorded in the bank's database. No one knows except the bank. This way of recording information is called "central bookkeeping". 3. Although central bookkeeping is efficient, it has problems: 1. The credibility of centralized institutions.
 
        For example, the records of the bank may be modified; 2. Security of information storage. For example, what if the bank's database collapses and information is lost? Based on these problems, someone came up with a new method &mdash& mdash; Distributed bookkeeping. 4. The "Distributed Accounting" of blockchain means that the data is not stored in one center, but stored once on the computers of the whole network. For example, if I transfer 100 yuan to you, I'll shout to the computers all over the network and ask them to help write it down. So you can't deny it. Because the information is distributed and stored on each computer, it is called "Distributed Accounting".
 
        This is how blockchain was born. 5. In the blockchain, every time a data is entered, a block will be created. The block is divided into two parts: block header, which records the information of the current block; Block body, recording actual data. The information of the next block must be calculated from the information of the previous block. In this way, the blockchain is composed of blocks embedded with each other. 6. One of the benefits of blockchain technology is information security. Because each block is calculated from the previous block, any tampering of the block will lead to the whole body. Tampering requires the computing power of more than 51% of the computers in the whole network, that is, "51% computing power attack".
 
        This is almost impossible. 7. But distributed accounting also brings a problem: recording data takes time and takes up storage space. How can you persuade other computers to help? Blockchain system invented a reward mechanism &mdash& mdash; Token. Bitcoin is one of the most typical blockchain tokens. 8. How to reward specifically? Take bitcoin as an example. Every time a computer opens a block and records a data, it needs to do a lot of calculations. The content of calculation is to find a string that meets some specific results. Whoever finds his computer first can register to get a certain amount of bitcoin.
 
        It's like in a casino, the collector can legally take some money from the table into his pocket. This is how the new bitcoin was born. 9. Popularize a few "slang" in blockchain circles: take bitcoin as an example, the process of finding a specific string through a large number of calculations is called "mining"; Machines used for a large number of calculations are called "mining machines"; People who operate mining machines are called "miners". 10. As for other "coins" on the Internet, they all belong to the specific application of blockchain. But most of them are imitations of bitcoin. The market recognition is far lower than bitcoin, and the risk is very high. 11. What is the use of blockchain? Simply put: solve the problem of third-party trust.
 
        For example, Alipay solves the trust problem between buyers and sellers, so we need it. However, with blockchain, computers throughout the network help record data, and it is impossible to deny, so there is no need for intermediaries. Assuming that in the future, various intermediary institutions will be eliminated and all point-to-point transactions will be carried out, social efficiency will be greatly improved. 12. At present, blockchain has broad prospects in the fields of information security, payment and transfer, election voting, smart contracts and so on. 13. Blockchain also has disadvantages: the same information needs to be stored on each block in the network, which will cause a waste of efficiency. Therefore, the greater the amount of information and the more participants, the higher the application cost of blockchain technology.
 
        14. Ma Huateng commented on blockchain: blockchain is an innovative technology, but we should pay attention to its application. If you do ICO, there are great risks; If you issue money casually, there will be great regulatory problems. We actively explore the application of blockchain in various scenarios. But at present, it is still in the early stage of development. Only by truly understanding the operation law of business can we have the ability to identify "opportunities" and "traps".
 
        
Previous：When blockchain meets movies, it can do both good and evil
Next：No more

Related articles:

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