区块链相关名词英文翻译,区块链相关名词英文缩写

Blockchain is a revolutionary technology that has been adopted by many industries. It is an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way. The technology has been used to create digital currencies such as Bitcoin, Ethereum and Litecoin, as well as to create smart contracts and digital identities.

Cryptocurrency is a digital asset designed to work as a medium of exchange that uses strong cryptography to secure financial transactions, control the creation of additional units, and verify the transfer of assets. Cryptocurrencies are decentralized, meaning they are not controlled by any single entity or government. They are also global, meaning they can be used anywhere in the world.

Smart contracts are computer protocols that facilitate, verify, or enforce the negotiation or performance of a contract. They are self-executing contracts with the terms of the agreement between buyer and seller being directly written into lines of code. This code is then stored and replicated on the blockchain, making it virtually tamper-proof. Smart contracts can be used to facilitate, verify, or enforce the negotiation or performance of virtually any type of agreement.

Distributed ledger technology (DLT) is a type of database that is spread across multiple sites, institutions, or geographies. It is a digital system for recording the transaction of assets in which the transactions and their details are recorded in multiple places at the same time. DLT is the underlying technology behind blockchain and is used to create distributed ledgers, which are shared databases that are maintained by a network of computers.

Proof of work (PoW) is a consensus algorithm used to secure and validate transactions on a blockchain network. It is a piece of data that is difficult to produce but easy for others to verify. In order to produce a valid PoW, miners must use their computing power to solve a complex mathematical puzzle. If the solution is correct, the block is added to the blockchain and the miner is rewarded with a certain amount of cryptocurrency.

Proof of stake (PoS) is a consensus algorithm that is used to secure and validate transactions on a blockchain network. It is an alternative to the proof of work (PoW) algorithm, which requires miners to use their computing power to solve complex mathematical puzzles in order to produce a valid PoW. In PoS, miners are replaced by validators, who must stake a certain amount of cryptocurrency in order to participate in the consensus process.

❶ Explain clearly what is blockchain in an easy-to-understand manner

Blockchain in English is Blockchain. Block literally means block, block, and chain means chain, chain. Therefore, together they are translated into blockchain.
1. Use cryptography technology to encrypt and decrypt so that records cannot be tampered with. Common blockchain encryption methods include hash algorithm, RSA algorithm, elliptic curve algorithm, etc.;
2. The huge amount of calculation needs to be supported by a reasonable reward mechanism. Because every transaction must be recorded, Bitcoin’s blockchain has more than 60 gigabytes so far. Every new transaction requires confirmation of the information related to the trading account to ensure that the transaction is valid. The huge amount of calculation requires a computer with powerful computing power to complete.
In order to encourage the participation of powerful computing power, Bitcoin provides two rewards: one is to issue a certain number of Bitcoins to these computers every day; instead, all transfer fees are awarded to these computers. (The technical term for these computers is "mining machines", and the people who hold the mining machines are called "miners".)
Biying China is working hard on asset digitization and launched the digital currency crowdfunding platform Biying China.

❷ What does blockchain nft mean?

Hello, the full name of NFT is Non-Fungible Token (non-fungible token). What we generally see is fungible token. . For example, 1 BTC in your hand and 1 BTC in other people's hands are the same. They have the same anchor value and can be exchanged at will.

Fiat currency is a homogeneous currency. For example, a $5 bill is completely interchangeable with any other $5 bill. Similarly, cryptocurrencies such as Bitcoin and Ethereum are also interchangeable, that is, 1 BTC can be interchanged with 1 BTC, 1 ETH can be interchanged with 1 ETH, and so on.

On the other hand, NFTs rely on special token standards such as ERC-721 to ensure uniqueness. Driven by blockchain technology, NFTs are non-interchangeable and have verifiable uniqueness. and scarcity.

Non-fungible tokens (NFTs) are, in the vernacular, unique Tokens. Even in the same system, NFTs exist independently. And unlike BTC and ETH, which can be divided into 0.1 or 0.0002, the unit of NFT is always 1! NFT characteristics: unique and non-divisible.



From this perspective, NFTs are like digital collectibles or proof of ownership. They are valuable precisely because they are 1:1 or limited edition. assets with liquidity and utility on the Ethereum platform.

In 2017, with the launch of collectible projects such as CryptoPunks and CryptoKitties, the NFT ecosystembegan to enter the public eye. Since then, the field has blossomed into a variety of new use cases and industries. According to analytics website NonFungible.com, the NFT economy has generated over $109 million in token sales to date, including $1 million last week alone!



Different Types of NFTs
NFTs can tokenize almost anything, and various media types in particular are achievable goals. So far, the most common use cases of NFT are:

· Digital art (SuperRare, KnownOrigin, Async Art, Rarible, etc.);

· Digital music (Mintbase, InfiNFT, etc.) ;

· Virtual real estate (Cryptovoxels, Decentraland, etc.);

· VR wearable devices; NFT (Non-Fungible Token) defines an indivisible, Unique interface specification for token interaction and circulation. On the blockchain, digital cryptocurrencies are divided into two categories: native coins and tokens. The former, such as Bitcoin, Qtum, etc., are for reference only

❸ What is the English version of blockchain

As the name suggests, blockchain (Blockchain) is composed of countless blocks (Block ). Taking the Bitcoin blockchain as an example, it has produced more than 400,000 blocks. The entire blockchain is like a shared distributed ledger, consisting of multiple computing nodes participating in Bitcoin transactions. To jointly maintain, each node also has a complete backup of the ledger (complete blockchain data), and each block in it is like a page in the ledger, recording several different transactions. Transaction information, these records cannot be tampered with by one of the nodes.
Blockchain-related applications include the digital currency crowdfunding platform Biying China and the asset custody system developed by China Post based on blockchain technology.

❹ Blockchain English

AMA——Ask Me Anything, usually refers to the question and answer activity held by the project party or the person in charge of the transaction

AMM——Automated Market Maker, automatic market maker model

AML——Anti-Money Laundering, anti-money laundering

BTC——Bitcoin, Bitcoin

1. Blockchain

Blockchain is a series of verified blocks, each of which Both are the same as the previous oneblocks are connected, all the way to the creation block. Blockchain is the underlying technology of digital currencies such as Bitcoin. It is a decentralized distributed shared ledger. Blockchain, artificial intelligence, and big data are known as the three major directions of financial technology.

2. Bitcoin

Bitcoin is the first practical application of blockchain technology. It was originally a peer-to-peer electronic cash (Bitcoin: A Peer -to-Peer Electronic Cash System). Today, Bitcoin has been designed and developed into an open source system based on Satoshi Nakamoto's ideas, as well as a digital currency network built on it.

3. Satoshi Nakamoto

Satoshi Nakamoto is a pseudonym. He is the founder and early developer of Bitcoin. In 2008, Satoshi Nakamoto Published the Bitcoin white paper, Bitcoin: A Peer-to-Peer Electronic Cash System, in Cypherpunk, which established the basic framework of the Bitcoin system. In 2009, he built an open source project for the Bitcoin system and officially announced the birth of Bitcoin. But when Bitcoin gradually became popular, Satoshi Nakamoto quietly left and disappeared from the Internet.

4. Digital Currency (Token)

The initial application form of blockchain is digital currency, and the emergence of blockchain itself also serves digital currency. At present, the best field for blockchain application is the financial field. This is because blockchain technology is more suitable for serving financial scenarios. Digital currency is an alternative currency in electronic form, which is a virtual currency in the virtual world. There are currently tens of thousands of digital currencies issued around the world, and they can be traded with real-world currencies through exchanges, or with other digital currencies.

5. Mining

Bitcoin is likened to digital gold. In the network, through competition for computing power, the right to recognize the block is obtained, and then the block is obtained. Token rewards and transaction fee rewards, and this method is the way to obtain the initial Bitcoin in the system, just like gold and silver were mined from the ground back then, so it is called mining. .

6. Miner

The node that provides computing power for mining is called a miner. Of course, it sometimes also refers to the owner of the node.

7. Public Keys/Private Keyse Keys)

Public key and private key are the method of asymmetric encryption algorithm, which is also an improvement on the previous symmetric encryption algorithm. The symmetric encryption algorithm uses a set of passwords to encrypt and decrypt. If you know the encryption password, you can decipher the ciphertext. The asymmetric encryption algorithm uses two sets of passwords, using the public key to encrypt and the private key to decrypt. In this way This ensures the security of the password. In the Bitcoin system, the private key is essentially an array of 32 bytes. The generation of the public key and address depends on the private key. With the private key, the public key and address can be generated, and the corresponding address can be used. Bitcoin.

8. Hash value (Hash)

The hash algorithm maps a binary value of any length into a smaller binary value of a fixed length. This small binary value is the hash value. Hope value. A hash value is a unique and extremely compact numerical representation of a piece of data. Changing even one letter in a piece of plaintext will result in a huge difference in the resulting hash value. Finding two different inputs that correspond to the same hash value is basically computationally impossible.

9. Consensus

As a data structure that stores data in chronological order, blockchain can support different consensus mechanisms. The consensus mechanism is an important component of blockchain technology. The goal of the blockchain consensus mechanism is to enable all honest nodes to maintain a consistent view of the blockchain while satisfying two properties:

(1) Consistency. The prefix part of the blockchain saved by all honest nodes is exactly the same.

(2) Effectiveness. The information published by an honest node will eventually be recorded in its own blockchain by all other honest nodes

10. Wallet

The Bitcoin wallet does not exist Balance, there is no concept of "balance" in the world of Bitcoin. The wallet here refers to the client or software that saves the Bitcoin address and private key. You can use it to receive, send and store your Bitcoins.

❻ Comic illustration: What is blockchain

Comic illustration: What is blockchain

What is blockchain?
Blockchain, English Blockchain, is essentially a decentralized distributed database. Anyone can become a node of this huge network as long as they set up their own server and connect to the blockchain network.
Since the blockchain is essentially a database, what exactly is stored in it? Let’s take a look at the basic unit of blockchain: Block.
A block is divided into two parts:
1. Block header
The block header stores the header information of the block, including the hash value (PreHash) of the previous block, this block The hash value of the body (Hash), and the timestamp (TimeStamp) and so on.
2. Block body
The block body stores the detailed data (Data) of this block. This data contains several rows of records, which can be transaction information or some other information.
What does the hash value just mentioned mean?
Everyone must have heard of MD5. MD5 is a typical hash algorithm that can convert a string of plaintext of any length into a string of fixed length (128 bits). This string is the hash value.
In our blockchain, a more complex hash algorithm called SHA256 is used. After a series of complex calculations, the latest data information (such as transaction records) will eventually be converted into a 256-bit hash value string through this hash algorithm, which is the Hash in the block header. The format is as follows:

Blocks and Hash have a one-to-one correspondence, and Hash can be regarded as the unique identifier of the block.
How are different blocks related to each other? Rely on Hash and PreHash to associate. The PreHash value of each block is equal to the Hash value of the previous block.
Why do we need to calculate the hash value of the block?
Since the blockchain is a chain structure, there must be a head node (the first block) and a tail node (the last block) of the chain. Once someone calculates the hash value of the latest data in the blockchain, which is equivalent to packaging the latest transaction records, a new block will be created and connected to the end of the blockchain.
The Hash of the new block header is the hash value just calculated, and the PreHash is equal to the Hash of the previous block. The data in the block body stores the transaction records before packaging, and this part of the data information has become unmodifiable.
This process of calculating Hash values ​​and creating new blocks is called mining.
The server used for massive calculations is called a mining machine.
The workers who operate calculations are called miners.
What is so difficult about calculating hash values? Let’s give the most superficial explanation. The formula for calculating the hash value is as follows:
Hash = SHA-256 (Hash of the last block + basic information of the new block + transaction record information + random number)
Among them, the transaction record information is also a string of hash values, and its calculation involves a data structure Merkle Tree. Interested friends can check the relevant information, we will not introduce it for now.
The key computational difficulty here lies in the generation of random numbers. The wretched inventor of blockchain wants toTo increase the difficulty of Hash calculation, the first 72 bits of the Hash result must be all 0. This probability is too small.
Since (the Hash of the last block + the basic information of the new block + the transaction record information) is fixed, whether the Hash that meets the requirements can be obtained depends entirely on the value of the random number. Miners must go through massive calculations and repeatedly generate random numbers in a general attempt to "get lucky" before they can get the correct Hash and successfully mine.
At the same time, the block header also contains a dynamic difficulty coefficient. When the world's hardware computing power becomes faster and faster, the difficulty coefficient of the blockchain will also increase, making the entire network capable of completing the task every 10 minutes on average. A new block is generated.
Friends, do you understand how difficult mining is? It should be added that different blockchain applications are different in details. The mining rules described here take Bitcoin as an example.
Applications of Blockchain

The concept of Bitcoin (BitCoin) was first proposed by Satoshi Nakamoto in 2008, and then based on this idea, open source software and P2P built on it were designed and released. network. Bitcoin is a P2P form of digital currency. Peer-to-peer transmission means a decentralized payment system.
What is a P2P network?
Traditional currencies are uniformly issued by the central bank, and all personal savings are uniformly managed by banks. This is a typical centralized system.
Bitcoin is deployed on a decentralized network composed of many peer nodes around the world. Every node is qualified to record and issue this digital currency.
As for the underlying data storage of Bitcoin, it is based on blockchain technology. Each transaction in Bitcoin corresponds to a row in the block data. A simple diagram is as follows:
Each row of the transaction record contains a timestamp, transaction details, and digital signature.
The table is only for ease of understanding. The actual stored transaction details are anonymous, and only the wallet addresses of the payer and payee are recorded.
As for digital signatures, they can be understood as anti-counterfeiting marks for each single transaction, generated by an asymmetric encryption algorithm.
Next let’s talk about the rewards of Bitcoin miners:
The Bitcoin protocol stipulates that miners who mine new blocks will receive rewards. Starting from 2008, it is 50 Bitcoins, and then halved every 4 years. , currently 12.5 Bitcoin in 2018. The new Bitcoins in circulation are all born in this way. No wonder everyone is so eager to mine Bitcoins!
Advantages and Disadvantages of Blockchain
Advantages of Blockchain:
1. Decentralization
Blockchain does not rely on a central node. The data of the entire system is All peer nodes in the entire network are jointly maintained and can store and verify data. In this way, unless the attacker hacks more than half of the nodes in the entire network, otherwiseThe entire system cannot be destroyed.
2. Information cannot be tampered
The data in the block cannot be tampered with. Once the data is tampered with even a little bit, the hash value corresponding to the entire block will change accordingly, and it will no longer be a valid hash value, and the subsequent linked blocks will also be broken.
Disadvantages of blockchain:
1. Excessive consumption of energy
To generate a new block, a large amount of server resources must be used to perform a large number of unnecessary trial calculations, which seriously consumes electricity.
2. Network delay of information
Take Bitcoin as an example. Any transaction data needs to be synchronized to all other nodes. The synchronization process will inevitably be affected by network transmission delay, resulting in a long time consuming.
A few additional points:
1. Part of the content of this comic refers to Ruan Yifeng’s blog post "Blockchain Introductory Tutorial". I would like to thank this great master for his popular science.
2. Due to limited space, the knowledge about Merkle Tree and asymmetric encryption has not been discussed in detail for the time being. Interested friends can check the information for further study.