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What is the blockchain that frequently swipes the screen recently?

Time : 13/04/2022 Author : educ8r Click : + -
        At the beginning of the new year, in addition to live question answering, the most popular thing is blockchain. The share price of blockchain concept stocks is like a roller coaster, the announcements of Shanghai Stock Exchange and Shenzhen Stock Exchange, and the clarifications of major companies on blockchain are really busy. Although many people are swiped by the blockchain, few people can really tell what the blockchain is. Blockchain has been known to the public since bitcoin and ICO, which was stopped by regulators last year. As the underlying technology of bitcoin and various "tokens", many people mistakenly think that blockchain is bitcoin, but this understanding is wrong. Industry experts said that it is necessary to clearly distinguish between bitcoin and other virtual currencies and blockchain technologies. Closing the virtual currency exchange and prohibiting bitcoin platform transactions do not conflict with the current development of blockchain.
 
        Dong ximiao, senior researcher of Chongyang Financial Research Institute of Renmin University of China, said that it is necessary to distinguish between banning ICO and bitcoin, and between regulating bitcoin and blockchain technology. The governance measures taken by Chinese regulatory authorities are not to suppress blockchain technology, but to curb various illegal transactions, maintain financial order and protect public interests. After understanding these concepts, let's take a look at what blockchain is. Wang Jun, chief researcher of Tencent Financial technology think tank, told chinanews.com that blockchain is essentially a database technology, specifically an account book technology. An account book is a record set that records the asset changes and transactions of one or more accounts. It is actually the simplest database in structure. The daily accounts we usually record in small books and the statements sent by banks are all typical accounts.
 
        Hu Danqing, a senior product expert of ant financial's blockchain, said that blockchain is a multi-party distributed ledger, which is known as a technology "born to solve trust problems". The essential difference between the digital world and the physical world lies in the fact that things in the physical world are real and cannot be created or disappeared out of thin air. However, the data in the digital world can be deleted, altered or copied without any trace. But with blockchain technology, the digital world can be as authentic as the physical world. Wang Jun explained to chinanews.com that, first of all, blockchain is a distributed database technology. Distributed technology mainly refers to storage architecture. The distributed architecture adopted by the blockchain not only stores the ledger data on each node, but also each node must contain the data of the entire ledger.
 
        This thorough distributed architecture brings extremely high security. No one can destroy all nodes at the same time. Secondly, blockchain technology can realize tamper resistance through "blocks" and "chains". The data storage unit of the blockchain is a block. When each block is generated, it must contain the unique "characteristic value" of the previous block (which can be regarded as the ID card of the block). Each block is lined up strictly in the order of generation time to form a "chain". If someone changes the content of a certain block, the unique characteristic value of the block will also change, and the subsequent blocks will not recognize it immediately. This "fake" block will only be decoupled. Wang Jun added that most of the databases are centralized. If we deposit money in a bank, we must trust the bank to record our transactions truthfully, without recording more or less.
 
        However, the blockchain is "decentralized". It does not have a centralized management organization. It only presets an open and transparent consensus algorithm. If any transaction meets this consensus algorithm, it can be written into the ledger. Set a rule that everyone can see and understand, and act according to the rule. Wang Jun emphasized that security is a major feature of blockchain technology. However, from the perspective of privacy protection, the blockchain emphasizes openness and transparency, and any node has the right to operate according to the consensus algorithm, so it is not suitable for scenarios where data privacy needs to be protected. Sun Guofeng, director of the Financial Research Institute of the people's Bank of China, said in an interview with the media that blockchain technology can be applied to many fields and scenarios, including some social management scenarios. It is necessary to further broaden the vision of research and development of blockchain technology.
 
        Chinanews.com notes that at present, some enterprises have applied blockchain technology to public welfare to promote public welfare to be more open and transparent, and ensure that every money donated by users is transparent, traceable and non tamperable; At the same time, the blockchain is also used to trace the origin of genuine goods and help the rental platform realize mutual trust between real housing sources and real residents. Some enterprises have also launched a shared account book to solve the demand of information sharing scenarios, such as public welfare search, and information sharing and synchronization of missing children's report information among multiple public welfare platforms in the alliance. "Using blockchain to solve trust problems has great value in modern commercial society." Wang Jun said that to judge whether a field is suitable for blockchain technology, four questions can be asked: first, is there a high requirement for data security? The second is whether there is no organization that is fully trusted by all parties involved? Third, whether the requirements for data processing efficiency are not high? Fourth, whether the data privacy requirements are not high? If the answers to the above questions are all affirmative, then this scenario is suitable for blockchain.
 
        In the face of the blockchain boom, Hu Danqing said that the virtual heat of the blockchain is not to use technology to solve trust problems, but to raise money and speculate on valuation. Most of the so-called ICOS are fund-raising tool innovation, which has nothing to do with technological innovation. "The basis for judging whether it is technological innovation or fund-raising innovation is actually very clear: whether it starts with trust and whether it has created real value by solving trust problems. Without a foundation of value source, no matter how high the market value of the currency is, it is a castle in the air, and it is a matter of time." Hu Danqing said. (Wang Jiaxin).
 
        
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