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A. Briefly discuss the major applications of blockchain and which ones are pitfalls

What can blockchain do? Blockchain, a great technology that accompanied the birth of Bitcoin, is currently being used in the financial field to significantly reduce transaction costs and improve efficiency, which is enough to excite Wall Street. However, this is just the tip of the iceberg. Its potential applications are very broad and will subvert every aspect of our lives in the future.

The Internet is an information network, with 0s and 1s flowing in it. Blockchain is a value network, and its role is to transmit value, unlike the Internet for data transmission.

Speaking of value transfer, there is a very simple scenario, such as payment, I have 100 yuan in hand, and I want to transfer it to the group. I can use WeChat red envelopes or WeChat transfers. Here During the transaction process, a third party is required to participate, and the transmission method of the blockchain is point-to-point transmission, which does not require any intermediate node. This is a very big difference between the blockchain and our existing architecture.

When it comes to peer-to-peer payments, many people will think of Bitcoin, because most people know blockchain from Bitcoin. What is the difference between blockchain and Bitcoin?

Blockchain is the technology behind Bitcoin; blockchain is a basic technical architecture that designs and implements an autonomous system with multi-party participation through a specific data structure and consensus algorithm.

The specific data structure is actually the name blockchain itself, that is, its data is placed in data blocks one by one, and then these data blocks are connected and implemented using a chain. "Consensus algorithm" is a very important concept in blockchain. Without synchronic algorithm, there would be no meaning of blockchain.

Introduction to Bubi Blockchain

Bubi Blockchain has been focusing on the R&D and innovation of blockchain technology and products since its establishment, and has a number of core technologies. It has made substantial innovations in many aspects and formed a number of core technical achievements, such as: mathematically provable distributed consensus technology, fast large-scale ledger access technology, multi-chain general ledger technology that supports business expansion, and heterogeneous ledger technology. Construct interconnection technology between blockchains, etc. On April 25, "Gege Points" introduced the concept of blockchain into the points system, jointly opened it up with multiple parties, issued and redeemed points, and promoted the circulation of points. Each cooperative institution can jointly participate in transaction verification, ledger storage, and real-time settlement; the third-party payment platform of the enterprise points issuer makes the entry and exit of points more flexible. Bubi has developed its own basic blockchain service platform, which has been applied in equity, supply chain, points, credit and other fields. Bubi has been committed to building an open value circulation network with decentralized trust as the core, allowing digital assets to flow freely.

Having said that, let’s analyze the difference between blockchain and Bitcoin?

1.essential difference. For the world, Bitcoin is a digital currency based on cryptography, while blockchain, as we just said, is a value transfer protocol. There is an essential difference between the two, because one is a digital currency. , one is a value transfer protocol.

2. Algorithm. Bitcoin's consensus algorithm is based on a working algorithm called proof of work, POW. There are many different consensus algorithms in the blockchain. It can use either the Bitcoin POW algorithm, the POS algorithm, or the DPS algorithm.

3. Transaction speed. Bitcoin is limited to a maximum of seven transactions per second. Please note that what is mentioned here is the maximum and not the average, because this is a very strict definition. For the blockchain, the number of transactions per second can actually reach tens of thousands or more, so this is also One major difference between blockchain and Bitcoin. Because many people will be confused and say that the transaction speed of the blockchain is seven transactions per second. This is wrong. This is a limitation of Bitcoin. The blockchain can reach very high speeds based on its different consensus algorithms and linking methods. Transaction speed.

4. Link form. Bitcoin is a blockchain based on the Internet, which means we call it a public chain. The blockchain can be in the form of a public chain, a private chain, or a consortium chain.

5. Limitations. It is recommended that everyone not touch some digital currencies related to blockchain. What's the reason? Bitcoin is a digital currency. Although it has very good and different characteristics, it does not comply with financial supervision. In other words, these 21 million Bitcoins were issued without national authorization and without national credit as a multiple. was released below. The blockchain also has some limitations. Although it is just a protocol and a technology, it is still a new technology in its infancy.

To summarize, blockchain is a relatively low-level protocol and a technical infrastructure, on which there are various consensus algorithms. If the blockchain is 1, the consensus algorithm may be 10 to 20, but the applications based on it may be one thousand or two thousand, or more. In other words, Bitcoin is only one of many blockchain applications. A realization. Therefore, Bitcoin and blockchain cannot be equated. Bitcoin is only a very elementary implementation of blockchain.

What can blockchain do? Blockchain problem? In the bill market, digital bills based on blockchain technology can become a safer, smarter, and more convenient bill form. Point-to-point transactions realized with the help of blockchain can break the existing functions of bill intermediaries and realize the disintermediation of bill value transfer; the construction and data storage of digital bill systems do not require a central server, eliminating the need for the development of central applications and access systems. costs, reducing the maintenance and optimization costs of the system under the traditional model, and reducing the risks caused by system centralization; information based on the blockchain is notIt can be tampered with. Once the transaction of the bill is completed, there will be no default, thereby avoiding behaviors such as "selling more than one ticket" and out-of-synchronization of payment and endorsement, and effectively preventing bill market risks. The securities trading market is also an area where blockchain technology has great potential. The current traditional securities trading model has the shortcomings of long transaction processes, low transaction efficiency, and high comprehensive costs. In addition, there are strong intermediaries and regulatory agencies, and the rights of financial consumers are often not protected. Applying blockchain technology, buyers and sellers can be directly matched through smart contracts, and the efficiency of transaction execution can be greatly improved. Settlement and delivery can be automatically realized through a distributed digital registration system. Since the data entered into the block is irrevocable and can be copied to each data block within a short period of time, the information entered into the blockchain actually has a publicity effect, so the occurrence of the transaction and the confirmation of ownership will not occur. dispute.

What can blockchain do? Blockchain problem? Although there is no mature underlying blockchain technology platform solution currently, technical problems such as capacity scalability, privacy protection, inability to settle on a net basis, and non-recourse after the fact also need to be solved, and large-scale application of blockchain Technology also requires redesigning IT architecture and reengineering business processes, but these are only technical issues. The real test of blockchain technology taking root and growing in the financial field is the ontology of regulatory agencies and financial institutions. Will the inherent "deregulation" and "decentralization" characteristics of blockchain make market entities have no motivation to drive technology? Innovation. However, since the blockchain is a technology based on mathematical algorithms, the establishment of a trust relationship between transaction parties does not require the use of intermediaries or authoritative centers at all, and the cost of establishing a trust relationship is almost zero (when the blockchain financial infrastructure and ancillary infrastructure are established (under the premise), and the blockchain code is open source and open, without geographical restrictions, and the network pattern is distributed and interconnected, laying a technical foundation for the establishment and development of inclusive finance and shared finance in the future, and creating material conditions for global financial integration and unification. From this point of view alone, blockchain technology will surely establish a core position in future financial development, and it will rely on and complement each other to win the future.

B. What is the impact and significance of blockchain technology on society

On the morning of November 8, 2019, the 2019 Trusted Blockchain Summit opened in Beijing. Wang Xinzhe, chief economist of the Ministry of Industry and Information Technology, and Shang Bing, chairman of the Internet Society of China, attended the opening ceremony of the summit and delivered speeches.

Wang Xinzhe pointed out that a new round of scientific and technological revolution and industrial transformation characterized by accelerated innovation and integration of information technology is booming. Blockchain technology is important for promoting high-quality economic development, improving national governance systems and The modernization level of governance capabilities is of great significance.

(2) Router blockchain is meaningless Extended reading:

Wang Xinzhe emphasized that the Ministry of Industry and Information Technology attaches great importance to the development of the blockchain technology industry By creating a good development environment, guiding local governments to accelerate the pace of exploration, supporting breakthroughs in key core technologies, and promoting industryIt supports the development of the blockchain technology industry through various methods such as the implementation of industrial applications and the construction of a complete standard system, and has consolidated the development foundation of China's blockchain field.

The Ministry of Industry and Information Technology will accelerate the innovative development of blockchain technology industry, vigorously promote the deep integration of blockchain and economy and society, and give full play to the role of blockchain technology in driving technological breakthroughs, driving economic development, and promoting It plays a strategic role in improving people's livelihood and promoting social progress, and makes positive contributions to the realization of the "Two Centenary Goals" and the Chinese Dream of the great rejuvenation of the Chinese nation.

C. Is blockchain technology a devil or an angel?

Both good and bad are more good and less bad

Blockchain Technology, in the final analysis, is the sharing of information and data.

Whoever masters this technology will have the opportunity to develop the economy and trade, and have the initiative to do business.

Its characteristics are: unforgeable, leaving traces throughout the process, traceable, open and transparent and collectively maintained.

Therefore, both devils and angels will use blockchain to serve themselves. It’s just that whoever has advanced technology and is powerful will be at the top.

Aren’t each of us the incarnation of devils and angels? ? What's more, it's a technology? The key depends on how you use it,

Technology is neutral, neither an angel nor a devil. The key is who controls it. If angels dominate, the world will become a better place. If the devil dominates, it will be hell on earth.

In essence, blockchain is a shared database. The data or information stored in it has the characteristics of "unforgeable", "full traces", "traceable", "open and transparent" and "collectively maintained". ” and other characteristics. Based on these characteristics, a solid foundation of "trust" has been laid, a reliable "cooperation" mechanism has been created, and it has broad application prospects, especially in the financial field, which will bring unprecedented experience to people.

Blockchain technology is an advancement in network development and is widely used in the military. It is not available for civilian use yet. It is also not suitable for civilian use in our country. Therefore, if it can be used, it is an angel

Blockchain technology is neither an angel nor a devil. At present, this confidentiality and sharing technology is relatively advanced, but it is a bit untimely. Soon will be quickly eliminated in the future!

First of all, let me explain the general meaning of blockchain technology: blockchain is a distributed shared ledger and database, which is decentralized, cannot be tampered with, leaves traces throughout the process, can be traced, and is collectively maintained. , openness and transparency and other characteristics. These characteristics ensure the "honesty" and "transparency" of the blockchain and lay the foundation for creating trust in the blockchain. The rich application scenarios of blockchain are basically based on the ability of blockchain to solve the problem of information asymmetry and achieve coordination between multiple subjects.Build trust and act in concert.

To put it more straightforwardly, blockchain is a new application model of computer technologies such as distributed data storage, point-to-point transmission, consensus mechanism, and encryption algorithm. (A rougher understanding is that the main business of this technology is encrypted files and the side business is virtual currency)

One of the biggest hidden dangers is the birth of commercial quantum computers

1 , Since IBM announced the launch of the first commercial quantum computer in early 2019, the possibilities of micro personal quantum computers have become infinitely magnified. If anyone still doesn’t understand why quantum computers are mentioned here, then I can tell you responsibly that the power of quantum computers is that currently the most difficult passwords are as fragile as white paper in front of quantum computers!

2. The uncertainty faced by the blockchain. Currently, mainstream scientists have proposed two solutions to the upcoming quantum computers. The first one: Tailor-made for quantum computers and rewriting blockchain technology. (Currently, I have only written an outline, but no specific details.) The second type: Write rules and regulations into the hardware of each quantum computer that is about to leave the factory, prohibiting the use of various modes to crack blockchain technology. (I personally don’t believe in the second method. Rules and regulations are easy to write and enforce on computers, but some countries basically have no credibility at all. It is inevitable that they will default on their obligations and even open a backdoor program on it...)

3. The relationship between blockchain technology and digital currency. Take the digital currencies issued by central banks of various countries as an example. They draw on part of the blockchain technology. Although the mechanism is independent and obviously has a higher security level than the blockchain, it also faces risks because this technology is also based on the current computer working environment. from.

Summary: The best technology is not perfect. In the future, digital currency will definitely replace the original paper currency, but future risks may arise due to loopholes. And it becomes even more dangerous...

The progress of science and technology1 is indeed accompanied by the rise of emerging industries and the decline of traditional industries. Be objective in understanding.

I don’t understand and am confused

Is the blockchain issue a technical job? I don't think so. I think it should be broken down from the perspective of the system of the universe, of which the solar system is a part. As for how to block other galaxies, astronomers are still in the process of brewing it. It is a matter of the future. What we have to do now is We can only start from the territory of the earth. The result is either a continent or a country. Of course, there are also the problems of the religious consciousness of many ethnic groups and nations, as well as the connection problems of blocks in people and things.

I haven’t quite figured out the content and meaning of blockchain yet. At present, it should be good

D. Is blockchain useful? What impact does blockchain have? Prospects

I believe everyone is no longer unfamiliar with the emerging technology of blockchain, because it is the most popular topic at the moment. Many big guys in different industries are analyzing its role and prospects. Today we I will also do some analysis on the blockchain on whether the blockchain is useful and what the impact and prospects of the blockchain are. I hope it can help everyone.
Is blockchain useful?
1. Banking: As a digital, secure and interference-proof account, blockchain realizes the core function of the banking industry: a safe storage and transfer center of value. In other words, in the next few years, a wave of companies based on blockchain technology may affect the banking industry.
2. Payment and transfer: Blockchain technology can avoid complicated systems and create a more direct payment process between the payer and the payee. Whether it is a domestic transfer or a cross-border transfer, this method has its advantages. Low price, fast, and no intermediate handling fees.
3. Network security: Although the blockchain system is public, its verification, sending and other data exchange processes use advanced encryption technology. This technology not only ensures the correct source of data, but also ensures that the data is not intercepted during the process. If blockchain technology is more widely used, the probability of being attacked by hackers may also decrease, so people think that blockchain systems are more stable than traditional systems. One of the reasons why blockchain systems can reduce traditional network security risks is that they eliminate the need for middlemen.
4. Election: Everyone's vote "can never be modified or deleted by us - programmers, school administrators or students."
5. Smart contract: Smart contracts are actually on another object. A computer program that performs functions on the go. Like ordinary computer programs, smart contracts are also an "if-then" function, but blockchain technology enables the automatic filling of these "contracts" without manual intervention. Such contracts may eventually replace the legal merger industry's core business of drafting and managing contracts in both commercial and civil areas.
6. Stock trading: For many years, companies have been trying to simplify the process of buying, selling and trading stocks. Emerging blockchain technology startups believe they can go beyond the past, automating the entire process, improving security and efficiency.
What impact and prospects does blockchain have?
1. The dual impact of bringing wealth and risk:
The difference between blockchain technology and traditional Internet technology is that it chooses the high-risk financial industry as the entry point, but the financial field is full of Areas with many obstacles. Such direct entry has a dual impact: on the one hand, it can bring wealth effects to entrepreneurs relatively quickly; on the other hand, various risks will also come directly and violently.
2. Improve efficiency and reduce costs:
For physical finance, blockchain can maintain the fidelity in the process of transmitting information, such as personal credit information and other data, thereby avoiding many transaction costs and enabling large-scale Improve efficiency, this is the positive meaning it brings.
3. Play early and play small controlControl financial risks:
Blockchain is cooperating with the innovation of digital currency, preventing over-insurance in the insurance industry, over-lending in bank mutual funds, integration of supply chain finance, and promoting electronic identification, etc. It is suitable for Many industries and fields. In terms of financial security, many companies have also cooperated with regulatory authorities to build regulatory technology systems to help regulatory authorities monitor and provide early warning for the risks of Internet financial companies, so as to control financial risks early and at an early stage.
4. The owner of the data should be the user himself:
Blockchain is a technology worthy of attention, and it has relevant layouts in its own business and investment. Bitcoin and other electronic currencies are applications based on blockchain technology. They have certain currency functions and have certain use value. However, the main problem now is that the gap between the use value and the transaction price is too big. . ICO is a financing business model.
5. The darkest stage contains the most opportunities:
The darkest stage often contains the most opportunities. The application of blockchain is far more than just monetary and financial. For example, big data can be applied to the entire medical industry in the future. health field. If medical records and diagnosis data are shared to all different medical systems through big data blockchain, the efficiency of treating diseases and saving lives can be greatly improved.
The editor believes that the correct development prospect of blockchain is to "talk less about financial innovation, focus more on financial security, focus more on inclusive finance, and do more on medical care, health, and environmental protection."
The above is the blockchain brought to you by the editor. Is it useful? What impact and prospects does blockchain have? all content.

E. What is the significance of blockchain technology services

There are three meanings:
1. Help enterprises solve business pain points more efficiently and deal with complex businesses more calmly. and tracking market changes more quickly.
2. The two iconic milestones in the development of blockchain technology, the release of Bitcoin and Ethereum/Fabric projects, have brought its decentralized, secure and tamper-proof properties into the public eye, enabling the solution of many business problems. From impossible to possible. So why is it an enterprise-level blockchain?
3. In recent years, we have made a detailed technical comparison of the mainstream blockchain technology platforms on the market and found that there are still many problems in the application of these platforms in enterprises. Only enterprise-level blockchain can cope with such massive amounts of data. data, carrying complex business systems. The enterprise-level blockchain cloud service platform Renren is building is precisely to solve these problems and help enterprises achieve out-of-the-box use through one-stop integration, continuous delivery, data visualization and support for multiple bottom layers.

F. The social or economic significance of blockchain

First, blockchain will play the role of “reducing costs for the real economy”. At present, the real economy has high costs and thin profits, resulting in insufficient capital support for the real economy. Among operating costs, management costs and financial costs account for a large proportion. Blockchain technology can effectively help enterprises reduce the costs of these two parts.
Second, blockchain will play the role of “improving the collaborative efficiency of the industrial chain.” Improving industrial synergy is an important way to promote China's manufacturing to the mid-to-high end. However, in many industries, the efficiency of industrial chain synergy is still not high, and this problem is particularly prominent in the field of international trade.
Third, blockchain will play a role in “building an honest industrial environment.” At present, the construction of my country's social credit system is accelerating, but in some cases, the process of establishing trust among partners is still slow, it is difficult to obtain various types of credit information, and it is difficult for small, medium and micro enterprises to obtain credit loans from financial institutions. Through "transaction on-chain", all parties can more conveniently query the accurate historical credit status of counterparties, and can establish cooperation mechanisms more quickly; banks can also more safely grant credit to enterprises based on transaction records, and promote the solution of the problem of honest management. Small, medium and micro enterprises face problems such as “difficulty in financing, expensive financing, and slow financing”.
In addition, blockchain can use smart contracts to avoid breach of contract and fraud to a large extent, and can also be combined with blockchain asset wallets for efficient and convenient payment scenario applications. As early as in the blockchain circle, there have been many innovation forums and industry summits aiming at the direction of blockchain empowering the real economy and optimizing the implementation in conjunction with local economic industries. For example, the World Blockchain Conference-Macau Station plans to cooperate with the local The economic industry will achieve a deep integration and use the payment method of Magic Chain Wallet to apply and popularize blockchain assets.

G. What is the difference between a blockchain router and a general router?

When it comes to the new technology of blockchain, people who play Bitcoin must know it. Because it greatly improves the security of digital currency, it is widely used in the financial field. So what is a blockchain router? How is it different from ordinary routers? Let me answer it for you below.

More devices can be connected at the same time

Generally speaking, an ordinary TP-link router that costs about a hundred or ten yuan can only connect up to 7-8 devices at the same time. Each device, even a relatively advanced large-scale home router or office router, currently only supports the access of a maximum of about 10-40 devices. After adopting blockchain technology, the number of devices that can be connected to the router has significantly increased, and more than 130 devices can be connected to work at the same time, which greatly improves the convenience of working.

The maximum wireless speed can reach more than 1000Mbps

Everyone knows that network speed is a very important thing, especially when you need to download important files, the network speed is not good and slow. During operation, it is really troublesome. If the file is up to several hundred megabytes, the computer needs to be turned on all night for several days and nights to complete the transfer task. It is also necessary to prevent unexpected file transfer interruptions, and the blockchain router has the highest network speed. The Internet speed can reach more than 1000Mbps, which can be said to be a real roller coaster ride.Transferring a file takes just a click of the mouse.

Multiple devices can send and receive at the same time

For general routers, there is often a delay in signal reception. Sometimes the network is clearly in good condition, but it cannot send files. Not to mention sending and receiving files at the same time, the blockchain router solves this big problem very well. It can accept and send files to multiple devices at the same time without various delays, interruptions, and inability to receive. Phenomenon.

Wider signal coverage

The signal reception range of general routers is often limited. Sometimes your own network will have poor signal reception due to the distance between rooms. . Even if you want to use the Internet, you have to find a network with better speed and the best signal to connect to the Internet. The signal coverage of the blockchain router is about 100 square meters, which can ensure that every family member can connect to the Internet at any location. Can receive network signals anytime and anywhere.

H. What is the core significance of blockchain technology?

Many relationships between people are established based on trust, such as friendships, partnerships, and transactions. Relationships etc.
Take trading activities as an example. In the past, two parties that did not trust each other would usually choose an intermediary as a guarantee to complete a transaction. In the era of mobile Internet, we choose Taobao for shopping because Alipay provides us with intermediary guarantees. We choose Didi to take taxis because Didi provides us with information matching.
But these middlemen or intermediaries are centralized and have their own interests. Sometimes they are not so reliable and not so trustworthy. Theoretically, centralized accounting like Alipay may be tampered with (impossible in reality). Didi's accidents happened one after another, partly because they only think about problems from their own standpoint.
What the blockchain does is a machine of trust. It replaces the role of a trust intermediary with code. Through the consensus mechanism and distributed accounting, it ensures the fairness and justice of the entire system and provides a trustless system. trust.
For example, in the future, people can abandon the intermediate platform and realize point-to-point docking and free transactions through the blockchain. You don’t need to go through an intermediary when shopping, and you don’t need to go through Didi when taking a taxi. In this way, “no middlemen make the difference” is truly realized, and the cost is greatly reduced.

I. Is the prospect of blockchain investment very good?

Very bad. The industry is in chaos.
Blockchain has been in trouble since 2018. The industry is full of scammers, those who specialize in cutting leeks. I remember that Blockchain Network reported that Li Xiaolai was cutting leeks, and Li Xiaolai wanted to build a Blockchain Network, which caused their second round of financing to be stopped. I heard that it was sold to a technology company in Guangzhou.Secretary