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Bitcoin has exploded. Do you know about blockchain?

Time : 03/11/2021 Author : kyadrj Click : + -
        What is a blockchain? I believe many people still have a half understanding. Most of the answers searched are difficult for non professionals to understand. Some words can be understood by looking at Chinese characters separately, but they do not understand what they mean when combined. This article makes a comprehensive summary of the "blockchain" and gives examples for better understanding:. 1、 "Blockchain is a new application mode of computer technology such as distributed data storage, point-to-point transmission, consensus mechanism and encryption algorithm.". In the past, the village head was highly respected and held the account books of the whole village. Everyone kept money with him. This is the trust of everyone to the centralized "village head" in the past.
 
        But now there are some problems, such as: 1. The village head is old and old. What if he dies? 2. A thief comes to the village and steals the account book. 3. The village head starts to collect the bookkeeping service fee. The village head cannot be found and cannot be bookkept. 4. The village head stealthily misappropriates everyone's money. What should we do? These are all disadvantages of centralization!. So everyone sent an account book, and any transfer or loan between people was broadcast through the loudspeaker. After receiving the news, everyone recorded the transaction in their own account book, which is called decentralization. With these distributed ledgers, it doesn't matter even if the village head, the ledgers of a and B are lost, because other households in the village have ledgers.
 
        In 2008, Satoshi Nakamoto published a paper bitcoin: a peer-to-peer electronic cash system, which described a brand-new digital currency system: bitcoin. It also marks the birth of the underlying technology blockchain of bitcoin. On January 3, 2009, Satoshi Nakamoto personally created the first block on a small server in Helsinki, Finland & mdash& mdash; That is, the creation block of bitcoin. In the development process of nearly 10 years, the blockchain has completed the "separation" of bitcoin. As the underlying technology, it has been explored and promoted to form a coin blockchain and a coin free blockchain. People have found that the blockchain technology can not only be used for digital currency, but also should be applied to a wider range and more industries due to its own characteristics such as decentralization, non tampering, openness and transparency, and distributed storage.
 
        Blockchain technology has gradually been recognized around the world. In 2015, the economist published the cover article "blockchain technology reshaping the world". After that, blockchain technology set off a financial technology frenzy in the world. In 2016 alone, billions of dollars were invested in blockchain enterprises. In September 2017, the Chinese government published an article entitled "China's blockchain industry is expected to lead the world", which publicly supports the development of blockchain technology. The application of blockchain in real economy fields such as finance, insurance, retail and notarization began to accelerate. The examples at the beginning have given a general explanation of the blockchain, but the blockchain is not a newly invented technology, but a comprehensive technical system integrating a series of technologies, including asymmetric encryption algorithm, timestamp, consensus mechanism, distributed data storage, cryptography, etc.
 
        (cryptography includes merkletree algorithm, elliptic curve algorithm, hash algorithm, and other coding algorithms) among these technologies, cryptography and consensus mechanism are the most core. In the hierarchical structure of the blockchain, the data layer, the network layer and the consensus layer are the necessary elements for building the blockchain technology, and are also the core layer. Without any layer, it can not be called a real blockchain technology. The blockchain is made up of a series of blocks generated by cryptographic algorithms and connected in order to form a chain structure: the time stamp is used to ensure that the blocks are connected in order; Using this chained data structure to verify and store data; Using distributed storage and consensus algorithms to generate and update data; Ensure the security of data transmission and access by means of cryptography; Use smart contracts to program and manipulate data.
 
        All transaction information of bitcoin is recorded in the blockchain. If the blockchain is likened to a physical ledger, then each block is equivalent to a page in the ledger. The time system for the birth of a new block is set to 10 minutes. Each block records the transaction information of the bitcoin network for the past 10 minutes. Then, the data blocks are connected and combined into a chain structure by using the cryptology principle in order through time stamps, and the data is not tampered with and cannot be forged The asymmetric encryption technology is used to ensure the security of the private key, and the workload proof in the consensus mechanism is used to solve the problem of how to distribute 21 million bitcoins fairly in the decentralized system, and to maintain consistency in all records in the entire decentralized blockchain network.
 
        5. What is time stamp: time stamp makes every data on the blockchain have a time mark. In short, time stamp proves what happened on the blockchain at what time, and no one can tamper with it. Time stamp plays the role of notary in the blockchain, and it is more reliable than the traditional notary system. Because the information recorded on the blockchain cannot be modified by anyone in any way, Blockchain technology is very suitable for intellectual property protection and other fields. For example: you write a paper and want to ask an industry expert for advice before publishing it, but you are worried that the expert will publish it directly in his name. At this time, you only need to save it on the chain to easily prove the copyright.
 
        Refers to the programmable currency represented by bitcoin, and refers to the innovation in the field of digital currency; Blockchain appears in the public's view with the underlying technology of bitcoin. It has built a new and decentralized digital payment system, completed transactions without time and borders, and reduced the cost of the centralized system. However, at this stage, few people pay attention to the application of digital currency and blockchain technology, and more people focus on the investment of digital currency. Programmable finance based on blockchain, innovation in smart contracts and transactions; I.e. Ethereum. Based on the foundation of blockchain technology, smart contracts are added. With the support of the contract system, programmable blockchain is realized. People gradually extend the application scope of blockchain technology to other financial fields.
 
        A programmable society based on blockchain, that is, the application of blockchain in other industries. With the further development of blockchain technology, its characteristics such as decentralization and data anti-counterfeiting have been gradually paid attention to in other fields. The application of blockchain is not limited to the financial field. People are trying to expand to the Internet of things, financial services, Al, data storage and other fields. In the future, there may be greater breakthroughs in scalability and blockchain applications. Public chain: it is open and transparent. Any individual or group in the world can send transactions on the public chain, and the transactions can be effectively confirmed by the blockchain. Everyone may compete for bookkeeping rights. The bitcoin blockchain is a typical representative of the public chain.
 
        Private chain: it is completely closed and only adopts blockchain technology for bookkeeping. The bookkeeping right is not public, and only records internal transactions, which are exclusively enjoyed by companies or individuals. Alliance chain: semi open. It is a blockchain used within a group or organization. It needs to specify several nodes as bookkeepers in advance. The generation of each block is determined by all preselected bookkeepers. Other nodes can trade, but do not have bookkeeping rights. It mainly serves as the "exchange medium" in the field of blockchain assets. It is also the earliest blockchain project, mainly including bitcoin and litecoin. In addition, there is another kind of assets with anonymous characteristics. Its main functions include protecting the privacy of both parties while realizing payment, such as dash, monero and zcash.
 
        At present, there are more than 2000 kinds of digital assets in the world, and the largest market value is still bitcoin. Platform type blockchain project refers to the establishment of an underlying technology platform to meet the technical requirements for various blockchain application development, which can reduce the threshold for developing applications on the blockchain and allow developers to directly issue digital assets and write smart contracts on the blockchain. The smart contract is a computer program running on the blockchain database, which can be executed by itself under the condition that its source code setting conditions are met. For example, you develop a smart contract based on the housing rent agreement on the blockchain. When the owner receives the rent, it will trigger automatic execution and give the security key of the apartment to the tenant.
 
        Platforms include Ethereum and EOS. Such projects cover a wide range of fields, including finance, social networking, games, property rights protection and so on. They are also the fastest growing fields of blockchain assets. Application projects are blockchain projects developed based on the blockchain development platform (such as Ethereum), which can solve many problems in various fields of the real economy. The asset token blockchain project refers to linking the blockchain assets to physical assets such as gold and US dollars. The typical representatives are usdt of the benchmark US dollar and digixdao of the benchmark gold, or DGX for short. Each DGX represents 1g of Gold Certified by the London gold and silver Market Association.
 
        Asset tokenization has the advantages of convenient transaction and storage. Blockchain assets can be split and have better liquidity. For example, gold is easy to form wear and tear in physical transactions, resulting in losses. However, there is no need to transfer physical assets after the real assets are monetized, which greatly improves the circulation efficiency of gold. Similarly, when you need to withdraw gold, as long as you have the corresponding token, you can exchange it for a certificate to withdraw gold. It is more conducive to the custody of physical assets. The Internet is a concept that we are no longer familiar with. It penetrates into all aspects of our life and enables high-speed and low-cost transmission of information. It is a highway for information transmission. Then, blockchain is a high-speed railway for value transmission. Its decentralized value transmission system is characterized by open and transparent information, non tampering, global circulation and low transaction costs.
 
        It is suitable for the fields such as no trust center temporarily, high trust cost and cross center value transmission. At present, bitcoin is the most famous and successful application of blockchain technology, so the financial field is the most natural application scenario of blockchain. However, the application fields of blockchain are wide. In recent years, in the social management fields such as file management, data storage, accounting methods, patent protection, etc; Internet of things such as traceability and anti-counterfeiting; Notarization; Charitable donations and other public welfare fields all use the characteristics of open and transparent information on the blockchain and cannot be tampered with; Financial service fields such as transaction clearing and settlement and private placement use the characteristics of low transaction cost of blockchain; In the social and communication fields, the sharing economy fields such as sharing leasing use the characteristics of global circulation of blockchain.
 
        The blockchain is gradually playing its great potential, and there will be a broader application space in the future, which will completely reform the existing value transmission system. The operation principle of blockchain technology determines its great advantages of delivering value and manufacturing credit, and makes up for the functional defect that the Internet can only deliver information. It is a great innovation based on the Internet. The advantages of its distributed storage lie in its disaster tolerance capability, ensuring that the data on the chain can not be tampered with or forged, and improving the credibility and credibility of the data. Decentralization: reduce cost, convenient and fast. And global circulation, anonymity, openness and transparency. Blockchain has many advantages and obvious disadvantages.
 
        The information on the blockchain cannot be modified, which means that if the information is incorrectly filled in during the transfer of blockchain assets, the assets cannot be recovered. The blockchain is decentralized, and nodes can prove their trust without a centralized organization. However, it also means that everyone needs a complete account book. As time goes on, the account book becomes larger and larger, and ordinary computers may be difficult to operate. At the same time, decentralization means that there is no centralized organization to save the key for you. Once it is lost, it will never be recovered.
 
        
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