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⑴ An easy-to-understand explanation of what blockchain is

Blockchain is actually equivalent to a disintermediated database, which is composed of a series of data blocks. Each of its data blocks contains information about a Bitcoin network transaction, which is used to verify the validity of the information and generate the next block.

In a narrow sense, blockchain is a chain data structure that combines data blocks in a sequential manner in chronological order, and is cryptographically guaranteed to be inextricable. Tamper-proof and unforgeable distributed ledger.

In a broad sense, blockchain is actually a distributed infrastructure and computing method, which is used to ensure the security of data transmission and access.

Blockchain classification

1. Public

Public Block Chains (Public Block Chains) refer to: any Individuals or groups can send transactions, and the transactions can be effectively confirmed by the blockchain, and anyone can participate in its consensus process. The public blockchain is the earliest blockchain and the most widely used blockchain. The virtual digital currencies of all major bitcoins series are based on the public blockchain. There is only one blockchain corresponding to this currency in the world. .

2. Consortium

Industry Block Chains (Consortium Block Chains): Multiple pre-selected nodes are designated within a certain group as bookkeepers, and each block is generated by all The pre-selected nodes jointly decide (the pre-selected nodes participate in the consensus process). Other access nodes can participate in the transaction, but do not participate in the accounting process (it is essentially still managed accounting, but it becomes distributed accounting. How to determine the number of pre-selected nodes? The bookkeeper of each block becomes the main risk point of the blockchain), and anyone else can conduct limited queries through the open API of the blockchain.

⑵ What is the most understandable explanation of blockchain

Blockchain has become very popular in recent years, with attention and exposure continuing to rise. Many domestic giants have opened their arms. Embrace, regard blockchain as a great disruptive innovation in the Internet era, and swarm to study how to turn blockchain into a tool for you to seize business opportunities.

So, what exactly is blockchain technology? You can recognize each Chinese character individually, but you don't know what they mean when put together. For the blockchain, which everyone thinks is extremely mysterious, now there is a most understandable explanation.

What is blockchain? Let’s first use the love story that everyone loves to talk about as a simple example.

Build a simple blockchain model, then the following situations will occur when falling in love in this blockchain model.

In the future, all the men and women of the right age will fall in love and the whole process of commitment to marriage will be agreed upon by all other men and women of the right age, and all the stories that happen between the two people together will form a block.

All other men and women are the chain. If a third party intervenes or you violate your partner, others can see it, and you will never find a partner in the future.

To be precise, the blockchain is a "full center" system, that is, every node on the chain is the center.

Men and women in trial marriage fall in love, show off their love on friends, promise to love each other for a lifetime and be known by all other marriageable men and women is the application of blockchain. If one day one party breaks their promise, don't think that deleting the photos will be useful, because every piece of it has been recorded by all marriageable men and women.

It cannot be deleted or changed, this is blockchain technology.

If this technology is applied to the business field, its "purifying" effect on the business environment will be imaginable, which explains why blockchain technology is so popular.

The Internet has entered the ecological era, and its applications have penetrated into many fields such as financial services, Internet of Things, supply chain management, digital asset transactions, and e-commerce. The emergence of blockchain has transformed the development of the Internet from the information Internet to the value Internet and the order Internet. Its "distributed business" model with the sharing economy and value link as the main features will give birth to a large number of new innovative cooperation scenarios across institutions and build The creation of a new industrial ecosystem with blockchain technology as the virtual center will have a disruptive impact on economic and social governance, industrial transformation and innovation.

On this basis, the Caoxin, Caoshang, Caodao and Caoai projects built by Caoliu Commune based on blockchain technology are composed of founding nodes, institutional nodes, partner nodes, and first-level nodes. , second-level and below nodes, and ordinary members constitute a new Internet ecosystem, outlining an environment that is fully in line with today's national policies and allows users to have the opportunity to participate in blockchain technology. Users can obtain grass coins by participating in community work. Users The obtained grass coins can be exchanged for Caoxin CT or traded on the trading platform to realize the circulation and appreciation of grass coins.

This is the first blockchain technology to be applied to the real industry ecosystem. It is also an example of financial thinking with Chinese characteristics that is deeply adapted to the commercial and financial environment based on China’s national conditions and uses blockchain technology to transform the traditional commercial and financial system. A historic innovation in decentralized reconstruction.

⑶ Popular explanation of blockchain technology

Blockchain is a new application model of computer technology such as distributed data storage, point-to-point transmission, consensus mechanism, and encryption algorithm. Blockchain is an important concept of Bitcoin, which is essentially a decentralized database. At the same time, as the underlying technology of Bitcoin, it is a series of data blocks generated by cryptographic technology. Each data block contains a batch of Bitcoin network transaction information, which is used to verify the validity of its information (anti-counterfeiting) and generate the next data block.
First of all, it is a special distributed database that is essentially readable and writable. The unit then entered into the database is a "block", which is decentralized.
It doesn’t seem to be easy to understand when explained in this way, soLet's take a simple example.

When we shop on Taobao, because neither the buyer nor the seller knows each other's credit, we need to introduce a third-party platform - Alipay. Alipay is a trustworthy platform. The buyer first gives money to Alipay. After the seller delivers the goods, the buyer receives the money and notifies Alipay, who then lends the money to the seller. In this way, there is no need to worry about credit issues in the transaction.

⑷ An easy-to-understand explanation of what blockchain means

Blockchain is a technology that has produced many applications, including all industries related to data and information. Bitcoin is one of the most well-known applications.

The popular explanation of blockchain is that if you buy a lipstick online, you first find the product you like and the seller's order, and then give the money to the intermediary platform. After the seller delivers the goods and the buyer confirms receipt of the goods, the intermediary platform will transfer the money to the seller. Because of trust issues, both buyers and sellers rely on intermediate platforms, and blockchain, as a decentralized distributed ledger database, focuses on removing this intermediate platform while solving trust issues at the same time.

In the blockchain, everyone has their own ledger to record everything that happens. If the seller takes the money but does not deliver the goods during the transaction, the record will be permanent and cannot be modified, and there is no need to exchange information with each other. In the blockchain world, the ledger of the person with the fastest and best quality records at the same time node will be selected to copy, send in series, and finally become thicker and thicker to form a block.

Since everyone in the blockchain world participates in bookkeeping, the lack of anyone’s bookkeeping will not affect the security and stability of everyone’s information. The rise of blockchain is based on trust issues, which are related to wealth security. This is the first thing to pursue.

⑸ The most popular explanation of blockchain is told below

1. Blockchain refers to a technology that collectively maintains a reliable database through decentralization and trustlessness. plan. There is no central ledger in the blockchain. Everyone has the opportunity to participate in accounting. Everyone is the center, and everyone in the system has a ledger.

2. Blockchain is just a technology. Different people will use it to do different things. Now many smart people are perfecting and optimizing it so that blockchain can be applied. Play a greater role in more areas. At the same time, there are also some people who, taking advantage of people's lack of understanding of blockchain, advocate various concepts and issue various digital tokens to make money without any new ideas. The beauty of open protocols is that those who discover and embrace them early on can harness them in shocking new ways.

⑹ What is the popular explanation of blockchain

What is the popular explanation of blockchain

What is the popular explanation of blockchain? Blockchain is currently a hot topic The topic of blockchain is developing faster and faster in China, but many people still don’t know what blockchain is? Below I will explain it in an easy-to-understand way for everyone.Explain what exactly blockchain is!

Popular explanation of what blockchain is 1

Generally speaking, blockchain is a decentralized distributed ledger database. The advantage of this distributed ledger is that buyers and sellers can trade directly. There is no need for any intermediary, everyone has a backup, even if your copy is lost, it will not be affected.

Suppose you have a ledger at home, and your parents give you your salary and ask you to record it in the ledger. You misappropriated more than ten yuan privately because of your greed, and no one else knew about it. But the way to solve the problem with blockchain is to keep accounts with the whole family. Not only you are keeping accounts, but your father, mother, brother, sister, younger brother, sister, etc. are all keeping accounts. They can all see the general ledger, and you It cannot be changed, and neither can others.

Blockchain is a new application model of computer technology such as distributed data storage, point-to-point transmission, consensus mechanism, and encryption algorithm. Blockchain technology has been widely used in different industries. Such as product traceability, copyright protection and transactions, payment and settlement, Internet of Things, digital marketing, medical care, etc.

Popular explanation of what blockchain is 2

Common questions in blockchain engineer interviews

What do you think the block in blockchain technology means?

The blockchain consists of information about all financial transactions. A block is nothing more than a list of records. When these lists are combined together, they are called a blockchain. For example, if an organization has 100 ledgers, their combination is called a blockchain, and a single ledger will be considered a single block.

Why is blockchain a trustworthy approach?

There are many reasons to trust blockchain. The first reason is that it is compatible with other business applications because it is open source. Secondly, it is secure because it was developed for online transactions, so the developers pay special attention to its data synchronization while keeping it safe. Because the type of business it holds is unrelated, it is easy to consider distinguishing chains when choosing.

How much do you know about blockchain?

This is a technology that was actually designed for Bitcoin and later heavily promoted for the multiple benefits of monitoring and recording all financial transactions on the network. This is a trusted method that is currently being used by many organizations. Since everything is secure and open source, it is easy to gain trust in the long run.

Utilizing blockchain in an organization, if there are specific technical requirements for that network?

No specific conditions of use. However, the network must be a peer-to-peer network under the relevant protocol. It literally just validates new blocks and helps organizations stay in sync without having to invest in third-party applications.

What is encryption? What is its role in blockchain?

Data security is alwaysis very important. Encryption is basically a way to help organizations keep their data secure. In this technique, data is encoded or altered to some extent by the sender before being sent to the network. Only the receiver can know how to decode it. This practice is very useful in blockchain because it increases the overall security and authenticity of the block and helps ensure that the block is secure.

What types of records can be saved on the blockchain? Are there any restrictions?

There are no restrictions on any type of records in the blockchain approach. Currently, many organizations around the world are using this approach, and the fact is that medical transaction records, organization-related events, administrative activities, transaction processing, identity management, document records are all common record types that can use blockchain. And record keeping is not limited to these applications..

What is double spending?

This is one of the main issues related to digital currencies. In practice, this is a condition of passing a digital certificate, since the card can be used multiple times through a digital file that is often easily cloned. It only leads to inflation and the organization has to bear huge losses. A major technical goal of blockchain is to eliminate this approach as much as possible.

Explain the importance of blind signatures and how they are useful?

It is actually a form of digital signature, an important part of cryptography, where all information is blinded until it is actually considered or signed. This is a proven method often considered in different privacy-related agreements between the author and the signatory. Digital currency design is one of the most common examples.

What is key sharing? Are there any benefits to blockchain technology?

As we all know, security issues in digital transactions are very important. Key sharing is a similar approach. In blockchain technology, this is a method of dividing keys or personal information into different units and sending them to network users. The original information can only be merged if the participant who distributed the key agrees to be merged with other participants. It can provide various security-related benefits in blockchain technology.

What organizations can use blockchain technology?

This method can be considered as commercial class without strict upper limit. In fact, almost all businesses are doing or online financial transactions that require them to successfully complete the implementation process. Large enterprises, financial institutions, private enterprises, government departments, and even defense agencies can easily trust this technology.

What is the difference between a blockchain ledger and a general ledger?

First of all, the main difference is that blockchain is a digital ledger that can be easily decentralized. This method is far less likely to go wrong than a regular ledger. Normal books are written by hand or by hand, blockchain does all the tasks automatically. You just need to configure it in the right way and followFollow all guidelines.

What is a soft fork?

Blocks in the ledger are included in a way that builds the longest chain, i.e. the chain with the greatest cumulative difficulty. A fork is a situation where there are two candidate blocks competing to form the longest blockchain, and two miners discover a working problem and fail to synchronize with each other within a short period of time. Causes network fragmentation because some nodes get blocks from miner #1 and others get blocks from miner #2. Forks are usually resolved in one block because the probability of this happening again becomes very low as the next block comes out so soon there is a new longest chain that will be considered primary.

⑺ What is the popular explanation of blockchain

Blockchain is a technology based on which many applications have been produced, including all industry businesses related to data and information. , Bitcoin is one of the most well-known applications.

The popular explanation of blockchain is that if you buy a lipstick online, you first find the product you like and place an order with the seller, first give the money to the intermediary platform, and wait until the seller ships the goods and the buyer confirms receipt. In the future, the intermediary platform will transfer the money to the seller. Because of trust issues, buyers and sellers rely on the intermediary platform. As a decentralized distributed ledger database, blockchain focuses on removing this intermediary platform while solving trust problems at the same time. question.

Blockchain Precautions

Before investing in a project, you must do enough homework and learn more about the future development prospects of the project through various channels. Including the profit model, valuation space, and project team, all need to be understood in detail. It would be terrible to invest money without knowing what the project is about.

Never take advantage of it. The blockchain industry has just emerged and the market is still blank, so there will be many good projects related to it. We must not invest all our funds in one project, even if this It doesn’t matter if the project is very good. You must know that any project may not succeed, so you must learn to diversify your investments. Diversifying your investments means diversifying your risks.

⑻ What is the popular explanation of blockchain

The popular explanation of blockchain is a chain composed of blocks one after another. Each block stores a certain amount of information, and they are connected into a chain in the order in which they were generated.
This chain is saved in all servers. As long as one server in the entire system can work, the entire blockchain is safe. These servers are called nodes in the blockchain system, and they provide storage space and computing power support for the entire blockchain system. If you want to modify the information in the blockchain, you must obtain the consent of more than half of the nodes and modify the information in all nodes. These nodes are usually in the hands of different subjects, so it is extremely difficult to tamper with the information in the blockchain. thing. Compared with traditional networks, blockchain has two core characteristics: first, data is difficult to tamper with, and second, it is decentralized. Based on these two characteristics, the information recorded in the blockchain is more authenticReliable and can help solve the problem of people not trusting each other.

⑼ What is the popular explanation of blockchain

Blockchain is the underlying technology of Bitcoin. It is like a database ledger that records all transaction records. This technology has gradually attracted the attention of the banking and financial industries because of its safety and convenience.

The popular explanation of blockchain is a new application model of computer technology such as distributed data storage, point-to-point transmission, consensus mechanism, and encryption algorithm.

The so-called consensus mechanism is a mathematical algorithm that establishes trust and obtains rights and interests between different nodes in the blockchain system.