万用链同区块链的联系与区别,万用链同区块链的联系和区别

『一』 The "inextricable connections" between blockchain and digital currency

Currently, blockchain and digital currency are still in the development stage and have not matured yet. The land is in line with the market and there is no sound legal system. Therefore, there are still many development problems in the field of blockchain and digital currency. Blockchain is different from digital currency, but digital currency is closely related to blockchain. Central banks around the world are exploring more scientific methods of creating and circulating digital currency, and are promoting the application and development of blockchain and digital currency theory and practice. Countries around the world are keeping up with the trend of the times and strengthening research on blockchain and digital currency to optimize the national financial and monetary system and promote the further development of the financial industry.

Blockchain is a large database supported by unique encryption technology. It has unique advantages such as data privacy protection, decentralization and non-tampering. The blockchain mainly uses time as the order, and combines data blocks in a sequential manner to form a chain data structure. The symmetric encryption function written by the hash function is used to ensure that the blockchain signature is not tampered with and cannot be Forged distributed ledgers, the encryption technology of the blockchain gives it a high security guarantee and determines the uniqueness of its signature data resources, making the data information stored in the blockchain not only difficult to be tampered with and forged, but also able to It is displayed openly and transparently in front of users, which brings a strong sense of trust to users and lays a credit foundation for use. Blockchain is a network formed by blocks. It is a large network in which blocks are interconnected. Each block is both independent and connected.

From blockchain theory to practice, taking Bitcoin as an example. Bitcoin directly demonstrates the characteristics of blockchain data encryption. A certain amount of Bitcoin is stored in each block. Users can obtain more Bitcoins every time they mine a new block. And every time a block is mined, the connections between blocks will be opened. Because originally independent blocks are gradually connected together, forming a huge blockchain.

Digital currency theory is an important strategic and tactical theory in the currency field in the new era, and a strategic theory for a new type of currency war under the trend of world globalization. The theory of digital currency mainly includes six contents, namely the world currency function of digital currency and cross-domain payment; the rearrangement and measurement of currency functions; digital currency replacing part of legal paper currency; the transformation of the stored value of world currency into a transaction function; digital currency Decentralization; using the network as the basis for connection.

Digital currency is an electronic form of modern currency. It fully possesses all the functions of modern paper currency and mainly relies on electronic payment to achieve circulation. The essence of digital currency should be legal currency promoted by the state, and its functions and circulation process should be carried out in accordance with the management rules of modern paper currency. The function of digital currency is realized between real commodity consumption and digital currency exchange. The most important part of digital currency isData code and identification code. The data code is equivalent to the currency value, which is the specific data content that needs to be transmitted in the network. The identification code is equivalent to the currency holder information, which points to the source and attribution during network transmission.

Take my country's legal digital currency, the digital renminbi, as an example. The digital renminbi is a legal currency promoted by the People's Bank of China. The digital currency can replace part of the renminbi by integrating digital currency with electronic payment methods. RMB. Since the digital RMB is issued by the central bank, it has the effect of mandatory issuance and circulation by the state. It is based on national credit and has the same functions and usability as RMB cash. The digital renminbi has been implemented with decentralized technological innovations, breaking through network limitations and can be used even when there is no mobile network or even mobile phone signal. There is almost no difference in use from renminbi cash.

The unique encryption technology of blockchain provides a sufficiently secure environment for information data resources and lays the foundation for trust. Modern currency is a credit currency, and digital currency is the electronic currency form of modern currency, which also needs to have a credit function. Therefore, the development of blockchain has laid a solid credit foundation for the development of digital currency. Broadly speaking, digital currency includes blockchain. Blockchain is the foundation and technical support, ensuring the security of confidential information and data and the connection between information and data.

The most central link in the creation mechanism of digital currency is the value creation mechanism. Only by giving digital currency the value of legal currency can it circulate better in the market. Digital currency itself is formed based on the support of blockchain technology. It relies on the distributed ledger structure of blockchain technology and highly confidential signature technology and consensus algorithms to form credit that can guarantee the transfer of digital information. Like modern currency, the creation of digital currency also comes from credit creation. Compared with its use value, its own value is negligible. Digital currency is formed on the basis of blockchain, and on this basis, the value credit guarantee of the country's central bank gives the digital currency a strong value credit guarantee, allowing currency holders to trust the digital currency and use the currency extensively. When digital currency is widely circulated in the market and demand expands, the central bank will directly issue digital currency. This process is the process of banks creating digital currency.

In a broad sense, digital currency includes virtual currency and electronic currency. Therefore, from the perspective of the creation mechanism of digital currency, it also includes two different creation mechanisms. Among them are digital currencies issued by central banks of various countries, such as China’s digital renminbi, which is issued by the People’s Bank of China and is a bank-created mechanism. There are also some digital currencies issued by companies, such as some encrypted digital currencies, namely Bitcoin, Ethereum, etc. However, digital currencies created and issued by individual companies are far inferior to digital currencies issued by national central banks in terms of effectiveness and functions. Therefore, the creation of digital currency in most countriesThe mechanism is basically the same as the creation mechanism of modern currency. The bank creation mechanism of digital currency is to upgrade the digital currency based on the current bank currency creation system, introduce electronic computer technology, and improve the control of the issuance and circulation of digital currency.

Take my country's digital renminbi as an example. my country's digital renminbi is issued by the central bank. The creation mechanism is basically the same as that of banknotes. The overall total currency issuance is basically the same as the original total banknote issuance. The supply and demand relationship of digital currencies and the equilibrium state in the market must be regulated in accordance with the central bank's monetary and fiscal policies. In short, the creation mechanism of digital currency should also belong to the category of credit creation, and the creation of digital currency also needs to be carried out in credit creation activities.

『二』How to apply blockchain How to apply blockchain

1. Financial field:

Blockchain in international exchange and letter of credit , equity registration and stock exchanges and other financial fields have potentially huge application value. The application of blockchain technology in the financial industry can eliminate the need for third-party intermediaries and achieve direct point-to-point connection, thereby quickly completing transaction payments while greatly reducing costs.

2. Internet of Things and logistics fields:

Blockchain can also be naturally combined in the fields of Internet of Things and logistics. Through blockchain, logistics costs can be reduced, the production and delivery process of items can be traced, and the efficiency of supply chain management can be improved. This field is considered a promising application direction of blockchain.

3. Public service field:

Blockchain is closely related to people’s production and life in public management, energy, transportation and other fields, but the centralized characteristics of these fields are also It has brought about some problems that can be transformed using blockchain. The decentralized, fully distributed DNS service provided by the blockchain can realize domain name query and resolution through point-to-point data transmission services between various nodes in the network, and can be used to ensure that the operating system and firmware of an important infrastructure are not Tampered, you can monitor the status and integrity of the software, detect bad tampering, and ensure that the data transmitted by systems using IoT technology has not been tampered with.

4. Digital copyright field:

Through blockchain technology, works can be authenticated, prove the existence of text, video, audio and other works, and ensure the ownership of works. Authenticity and uniqueness. After the rights of the work are confirmed on the blockchain, subsequent transactions will be recorded in real time, realizing full life cycle management of digital copyright, and can also be used as a technical guarantee in judicial evidence collection. For example, MineLabs, a startup company in New York, USA, has developed a blockchain-based metadata protocol. This system called Mediachain uses the IPFS file system to achieve copyright protection for digital works, mainly for digital pictures.application.

5. Insurance field:

In terms of insurance claims, insurance institutions are responsible for fund collection, investment, and claims settlement, and often have high management and operating costs. Through the application of smart contracts, there is no need for the policy holder to apply or the insurance company to approve it. As long as the claim settlement conditions are triggered, the insurance policy can automatically settle claims. A typical application case is LenderBot, which was launched in 2016 by blockchain companies Stratumn, Deloitte and payment service provider Lemonway. It allows people to register customized micro-insurance products through the chat function of Facebook Messenger, providing services between individuals. The high-value items exchanged are insured, and the blockchain replaces the third-party role in the loan contract.

6. Public welfare field:

The data stored on the blockchain is highly reliable and cannot be tampered with, so it is naturally suitable for use in social welfare scenarios. Relevant information in the public welfare process, such as donation projects, fundraising details, fund flows, recipient feedback, etc., can be stored on the blockchain and transparently and publicly disclosed conditionally to facilitate social supervision.

『三』 What is blockchain_What is blockchain technology

What is blockchain

Blockchain has become quite popular recently. When talking about blockchain, people will associate it with Bitcoin, but blockchain is blockchain and Bitcoin is Bitcoin. The two are completely different. Although many people have heard of blockchain, they do not understand it. What is blockchain? What exactly does blockchain mean?

Blockchain refers to a technical solution that collectively maintains a reliable database through decentralization and trustlessness. Many people still don’t understand decentralization. Decentralization means that 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. When it comes to blockchain, everyone will mention Bitcoin, because blockchain is the underlying technology of Bitcoin and is mainly used in Bitcoin. Blockchain is like a large database ledger that records all transaction records. , and the updated accounting content will be sent to all system class users.

What is blockchain technology

In layman’s terms, blockchain technology is a way for all people to participate in accounting. All systems have a corresponding database. If the database is compared to an account book, then the person who keeps the accounts is very important. These databases currently keep their own accounts. For example, Alibaba is responsible for the Taobao account book, and WeChat is responsible for the accounting. The ledger is kept by Tencent. But in the blockchain system, everyone has the opportunity to participate in accounting. The system will select the person with the best and fastest accounting, record his content on the ledger, and send the content of the ledger to everyone in the system. People back up so that everyone has the same ledger, ensuring that the accounting process is transparent. There is no central ledger. This is a huge problem.Greatly improved security. In the past, it was difficult for two parties who did not trust each other to conduct transactions. For the security of transactions, a third-party platform was needed, and blockchain technology solved the credit problem of user transactions. People can complete transactions without a third-party intermediary. Bitcoin The underlying technology of currency transactions uses blockchain technology, so many people associate Bitcoin with blockchain. It is precisely because Bitcoin has been very stable for many years that people pay attention to its underlying technology. People abstract the underlying technology of Bitcoin and call it blockchain technology.

『四』 What is blockchain

Let’s talk about some basic concepts first.

The network said that blockchain is a new usage model of computer technologies such as distributed data storage, point-to-point transmission, consensus mechanisms, and encryption algorithms. It is essentially a decentralized database, and as the underlying technology of Bitcoin, it is a series of data blocks generated by cryptography.

We try to translate "what is blockchain" into "human language".

The definition refers to the "decentralized database" nature of blockchain3354. This is very different from the traditional "centralized database" in storage, update and operation.

A centralized database can be thought of as having this shape:

For example, if I want to use Alipay to pay a Taobao seller, all data requests from when I make money to when he receives the money will be centrally processed by Alipay. The advantage of this data structure is that as long as Alipay is responsible for the efficient and safe operation of the system, others can unconditionally believe it without worrying; the disadvantage is that if there is a problem with Alipay, such as being hacked, the server being burned, a traitor appearing, and the company running away (Of course, the possibility of the above is extremely low), the balance details and other information in our Alipay will be confused.

Then some people think that this kind of low-probability event can use any technical means to avoid individual risks, and not only hand over the data to a centralized organization. For example, everyone can store and process data.

The database structure may look like this:

This picture is a schematic structural diagram of a "distributed database". Each point is a server, they all have equal rights to record and calculate data, and information is spread point-to-point. At first glance, it seems that it can indeed resist the risk caused by the crash of a certain node, but it is also very confusing and inefficient intuitively. Who will handle my information, and who has the final say on the outcome?

At this time, the "consensus mechanism" in the definition of blockchain comes into play. The consensus mechanism mainly "stipulates" the following things: who will process a data request (what qualifications are required); who will verify the results (to see if he has handled it well); how to prevent processors and verifiers from colluding with each other, etc.

Some people may like to be questioned when a "rule" is made. In order to form a stronger consensus, in addition to making the rules more reasonable, they must also be more attractive so that people are interested and motivated to participate in data processing. This involves the incentive mechanism of the public chain. We will start again later when we discuss the classification of blockchain and the role of digital currencies.

When we hand over a transaction to aWhen it comes to distributed networks, there is also a "psychological threshold": there are so many nodes that can process information, and I don't know any of them (unlike Alipay, if it hurts me, I can go to it to file a lawsuit). They all have my data, why should I trust them?

At this time, encryption algorithm (the last descriptive word in the definition of blockchain) comes on stage.

In the blockchain network, the data requests we send will be encrypted according to cryptographic principles into a string of characters that the recipient cannot understand at all. Behind this encryption method is the support of a hash algorithm.

Hash algorithms can quickly convert any type of data into hash values. This change is one-way irreversible, deterministic, random, and anti-collision. Because of these characteristics, the person handling my data request could record the information for me, but they had no idea who I was or what I was doing.

So far, the working principle of the decentralized network has been introduced. But we seem to have overlooked one detail. The previous diagram is a net. Where are the pulleys and chains? Why do we call it blockchain?

To understand this matter, we need to clarify a few knowledge points first:

The previous picture is actually a "macro" database perspective, showing the basic rules and processes of the blockchain system for processing information. . And specifically at the "micro" data log level, we will find that the ledger is packaged, compressed, stored in blocks, and strung together in chronological order to form a "chain structure", like this:

Figure Each ring in can be regarded as a building block, and many links are linked together to form a blockchain. Blocks store data, unlike ordinary data storage: on a blockchain, the data in a later block contains the data in the previous block.

In order to academically explain the fields of each part of the data in the block, we tried to use a book metaphor to describe what a blockchain data structure is.

Usually, when we read a book, we read the first page, then the second and third pages. The spine is a physical existence that fixes the order of each page. Even if the book is scattered, the order of each numbered page can be determined.

Inside the blockchain, each block is labeled with a page number, the second page contains the first page's content, the third page's content contains the first and second page's content. The tenth page contains the previous Nine pages of content.

It is such a nested chain that can be traced back to the original data.

This brings up an important attribute of blockchain: traceability.

When the data in the blockchain needs to be updated, that is when new blocks are generated in sequence, the "consensus algorithm" comes into play again. This algorithm stipulates that a new block can only be formed if it is recognized by more than 51% of the nodes in the entire network. To put it bluntly, it is a matter of voting, and it can be elected if more than half of the people agree. This makes the data on the blockchain difficult to tamper with. If I were to force a change, there would be too many people to bribe and the cost would be too high to be worth it.

This is what people often call the "non-tamperable" feature of blockchain.

Another reason why blockchain gives people a sense of trust is because of "smart contracts."

Smart contracts are defined by computer programs and automaticallyExecuted commitment agreement. It is a set of transaction rules executed by code, similar to the current automatic repayment function of credit cards. If you turn on this function, you don’t have to worry about anything. The bank will automatically deduct the money you owe when it is due.

When your friend borrows money from you but doesn't remember to pay it back, or makes excuses not to pay it back, smart contracts can prevent breach of contract. Once the terms in the contract are triggered, such as when it is time to repay the money, or there is a limit in his account, the code will automatically execute, and the money he owes you will be automatically transferred back whether he wants it or not.

Let’s briefly summarize. Blockchain technology is mainly decentralized, difficult to tamper with, and traceable, which represents more security and trustlessness. But it also brings new problems: redundancy and inefficiency, which requires many nodes to agree with the rules and actively participate.

This concludes the "drying" section. Next, let’s talk about unofficial history and the official history of blockchain.

A new technology is often used to serve a certain task.

Or goals. So where was blockchain first used, and who came up with it first?

Let's go back to 2008.

On September 21, Wall Street investment banks collapsed one after another, and the Federal Reserve announced that it would convert the only two remaining investment banks (Goldman Sachs Group and Morgan Stanley) into commercial banks; it hoped to survive the financial crisis by absorbing savings. On October 3, the Bush administration signed a $700 billion financial rescue package.

Twenty-eight days later, on November 1, 2008, a new post appeared in a cryptography mailing group: "I am developing a new electronic currency system that is completely peer-to-peer and does not require a third party. Three-party trust institution." The text of the post is a paper titled "Bitcoin: A Peer-to-Peer Electronic Cash System", signed by Satoshi Nakamoto.

The paper explains the design of this peer-to-peer electronic cash system with a more rigorous logic. It first discusses the problem that financial institutions are subject to "trust based" (based on credit), and then explains step by step how to achieve "no third-party agency" , and cleverly solved the technical problems left by the predecessors.

Two months later, Satoshi Nakamoto released the first version of the open source Bitcoin client and mined 50 Bitcoins for the first time. The block that generated the first batch of Bitcoins is called the "Genesis block". The genesis block was compiled into block 0 and was not uploaded to the chain. It took Satoshi Nakamoto 6 days to mine this block. This also sparked discussion in the bitcointalk forum. Bitcoin "believers" thought of the Bible, "God created the heavens and the earth in six days, and then rested on the seventh day."

Although concepts such as decentralized, token, and economy did not appear in the paper, Satoshi Nakamoto explained in detail the role of blocks and chains in the network. working principle. So, there is blockchain(Block Chain).

This paper later became the "Bible" of the "Bit Cult", technology became the cornerstone of faith, and developer documentation became the "Code of Hammurabi".

After that, Bitcoin realized the first real-life payment by exchanging pizza, WikiLeaks, whose account was blocked by the US government, miraculously survived by relying on Bitcoin, Satoshi Nakamoto's "decentralization" and retirement, and the appearance of the real and the fake A series of legends such as and refutation of rumors, combined with the expectations, imagination and speculation of later generations, became "Bible stories".

There are also people who are not satisfied with the world described in the "Old Testament" and start new sects, write the doctrines into white papers, and tell the story of their faith in the ten years after Bitcoin. Just like the writing of the 66 books of the Bible spanned 1,500 years, and after 2,000 years of interpretation, Christianity has divided into 33,000 branches.

CoinMarketCap shows that there are more than 4,900 types of digital currencies, and the overall digital currency market size is nearly 140 million yuan. Bitcoin still leads the entire digital currency market with a market share of 66%, and the recent price has been hovering around US$7,200 per coin.

So many currencies have different functions and are divided into different categories: digital currencies represented by Bitcoin are positioned as "digital gold" and have certain value storage and hedging characteristics; Ethereum The digital currency represented by Bitcoin has become the "operational fuel" in its network system; the stable currency represented by USDT and Libra has good payment properties due to its low volatility; the digital currency issued by the central bank represented by DCEP will definitely To a certain extent, it replaces M0, allowing commercial institutions and ordinary people to receive and pay without delay when they are out of cash and disconnected from the Internet.

It can be seen that after 10 years of development of blockchain technology, the first and largest application is digital currency.

Digital currency has also become an attractive reward for participants to maintain the public chain.

So besides digital currency, where else can blockchain technology be used?

Let us recall what the essence of blockchain is—a decentralized database, and its corresponding characteristics: traceability, publicity, anonymity, and tamper-proofing. In theory, you can try to use blockchain to transform traditional scenarios that use centralized databases to see if they are suitable.

Next, let’s talk about several industries and scenarios where blockchain has been successfully implemented:

Blockchain can prove the existence of a certain file or digital content at a specific time through hash timestamps, providing judicial authentication, Identity proof, property rights protection, anti-counterfeiting traceability, etc. provide perfect solutions

In the field of anti-counterfeiting traceability, blockchain technology can be widely used in various fields such as food and medicine, agricultural products, alcohol, and luxury goods through supply chain tracking.

Give two examples.

Blockchain can allow government data to be run, greatly streamlining service processes

The distributed technology of blockchain can allow government departments to be centralized on one chain, and all service processes are delivered to smart contracts, and the workers only need to be in one department Through identity authentication and electronic signature, smart contracts can be automatically processed and transferred, and subsequent steps can be completed sequentially.All approvals and signatures.

Blockchain invoices are the earliest use of blockchain technology in China. The tax department launched the "Tax Chain" platform for blockchain electronic invoices. The tax department, the issuer, and the payee join the "Tax Chain" network through unique digital identities, truly realizing "instant invoicing for transactions" and "instant reimbursement after invoicing" - in seconds Level invoicing and minute-level reimbursement accounting significantly reduce tax collection and management costs, and effectively solve problems such as data tampering, over-reporting of one ticket, and tax evasion.

Poverty alleviation is another practical application of blockchain technology. Utilize the characteristics of openness, transparency, traceability, and non-tampering of blockchain technology to achieve transparent use, precise investment, and efficient management of poverty alleviation funds.

Give two examples as well.

The eID network identity operation agency guided by the Third Research Institute of the Ministry of Public Security is jointly developing a "digital identity chain" with Gongyilian, which will be issued to Chinese citizens based on the citizen's identity number as the root and cryptographic algorithm. Since it was put into operation, the eID digital identity system has served the full life cycle management of 100 million eIDs, effectively alleviating the problems of personal identity information being fraudulently used, abused and privacy leaked.

Odaily Planet Daily compiled 5 identity chain projects registered with the Cyberspace Administration of China

Blockchain technology naturally has financial attributes

In terms of payment and settlement, under the blockchain distributed ledger system, there are many markets Participants jointly maintain and synchronize a "general ledger" in real time. In just a few minutes, they can complete payment, clearing, and settlement tasks that currently take two or three days to complete, reducing the complexity and cost of cross-bank and cross-border transactions. At the same time, the underlying encryption technology of the blockchain ensures that participants cannot tamper with the ledger, ensuring that transaction records are transparent and safe. Regulators can easily track transactions on the chain and quickly locate high-risk capital flows.

In terms of securities issuance transactions, the traditional stock issuance process is long, costly and complicated. Blockchain technology can weaken the role of underwriting institutions and help all parties establish a fast and accurate information exchange and sharing channel. The issuer can handle the issuance on its own through smart contracts. , regulatory authorities conduct unified review and verification, and investors can also bypass intermediaries for direct operations.

In terms of digital bills and supply chain finance, blockchain technology can effectively solve the financing difficulties of small and medium-sized enterprises. It is difficult for current supply chain finance to benefit small and medium-sized enterprises in the upper reaches of the industrial chain, because they often do not have direct trade relations with core enterprises, and it is difficult for financial institutions to evaluate their credit qualifications. Based on blockchain technology, we can establish a consortium chain network covering core enterprises, upstream and downstream suppliers, financial institutions, etc. The core enterprises issue accounts receivable vouchers to their suppliers. After the bills are digitized and uploaded to the chain, they can be uploaded to the supplier Transfer between them, each level of supplier can realize the corresponding amount of financing with the digital bill certificate.

Give me an example.

The China Enterprise Cloud Chain, jointly launched by ICBC, Postal Savings Bank of China, 11 central enterprises, etc., has covered 48,000 companies since its establishment in 2017, with the amount of rights confirmed on the chain reaching 100 billion yuan, and factoring financing of 57 billion yuan. , cumulative transactions reached 300 billion yuan. After receiving the loan application, the financial institution can verify the authenticity of the contract and whether the contract has been repeated on the chain.Verification (multiple loans); smart contracts automatically clear and settle, reducing costs and increasing efficiency; at the same time, the accounts payable of core enterprises can have corresponding vouchers, and be split by the first-level supplier and handed over to the second and third parties on the same chain. ??tier suppliers to help them with financing; core enterprises can also use this to understand whether the entire chain is operating normally and avoid the pressure of emergency payment.

Blockchain technology will greatly optimize the existing use of big data and play a huge role in data circulation and sharing

The aforementioned areas are areas that we are relatively familiar with. As more new technologies develop, blockchain may be able to be combined with them and play a role in unexpected cross-fields and new scenarios that are currently unforeseen.

In the future, the Internet, artificial intelligence, and the Internet of Things will generate massive amounts of data. The existing centralized data storage (computing model) will face huge challenges. Edge storage (computing) based on blockchain technology is expected to become a future solution. Furthermore, the non-tampering and traceability mechanism of blockchain ensures the authenticity and high quality of data, which becomes the basis for the use of all data such as big data, deep learning, and artificial intelligence.

Finally, blockchain can realize multi-party collaborative data calculations while protecting data privacy, and is expected to solve the problems of "data monopoly" and "data islands" and realize the value of data circulation.

In response to the current blockchain development stage, in order to meet the blockchain development and use needs of general business users, many traditional cloud service providers have begun to deploy their own BaaS ("Blockchain as a Service") solutions. The combination of blockchain and cloud computing will effectively reduce enterprise blockchain deployment costs and promote the implementation of blockchain usage scenarios. In the future, blockchain technology will also play an important role in many fields such as charity, insurance, energy, logistics, and the Internet of Things.

During this trial process from traditional technology to blockchain, we found that when certain scenarios have stronger demands for traceability, tamper-proofing, and decentralization, they also have problems with the weaknesses of blockchain (such as performance). , the requirements are not high, and this field is quite suitable for combining blockchain.

At the same time, in the process of blockchain evolution, it has also developed from a highly decentralized public chain accessible to everyone to a consortium chain with different permissions and maintained by multiple centers. Balances the advantages and disadvantages of the two systems.

Typical examples of alliance chains include: FISCO BCOS jointly developed by WeBank and the Golden Alliance Open Source Working Group, Fabric, a major contribution from IBM, and Ant Alliance Chain led by Ant Blockchain, etc.

These trustless systems represent more secure data authentication and storage mechanisms, where data is effectively authenticated and protected. Businesses or individuals can exchange or enter into contracts digitally, where these contracts are embedded in code and stored in transparent, shared databases where they cannot be deleted, tampered with, or revised.

It is boldly predicted that in the future, contracts, audits, tasks, and payments will all be digitized with unique and secure signatures. Digital signatures will be permanently identified, authenticated, legalized, and stored, and cannot be tampered with. No intermediary is needed forEach of your transactions is guaranteed, and you can conduct transactions without knowing the basic information of the other party. While improving information security, it effectively reduces transaction costs and improves transaction efficiency.

Generally speaking, there has been a lot of progress in the implementation of blockchain compared to two years ago.

Many improvements are at the bottom of the system, and users cannot directly see that blockchain is used, but they have actually benefited from it; some applications are still in pilot mode, and users have not yet been able to experience it. In the future, blockchain is expected to be used on a large scale and become one of the Internet infrastructure.

I hope that after reading this, you have a general understanding of what blockchain is and what blockchain can do.

Related Q&A: What is blockchain

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 non-tamperable and non-forgeable. 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 infrastructure:

Blockchain is composed of six infrastructures: data layer, network layer, consensus layer, incentive layer, contract layer and usage layer.

『五』The relationship between digital currency and blockchain

1. Blockchain and digital currency complement each other and are inseparable. Blockchain is one of the means of digital currency circulation.
2. Blockchain is the theoretical basis of digital currency. Digital currency is established on the basis of blockchain technology. Blockchain has certain guarantees for the security of digital currency. At the same time, digital currency is a block chain. The most successful application of chain technology.
Extended information: 1. Digital currency is an unregulated, digital currency, usually issued and managed by developers, and accepted and used by members of specific virtual communities. The European Banking Authority defines virtual currency as: a digital representation of value that is not issued by a central bank or authority and is not linked to a legal currency, but which, because it is accepted by the public, can be used as a means of payment or can be transferred, stored or traded electronically. .
2. Digital currency can be considered as a virtual currency based on node network and digital encryption algorithm. The core characteristics of digital currency mainly reflect three aspects: ① Because it comes from certain open algorithms, digital currency has no issuing entity, so no person or institution can control its issuance; ② Since the number of algorithm solutions is determined, the digital currency The total amount of currency is fixed, which fundamentally eliminates the possibility of inflation caused by excessive issuance of virtual currency; ③ Since the transaction process requires the approval of each node in the network, the transaction process of digital currency is safe enough.
3. The blockchain shared value system was first imitated by many cryptocurrencies and advanced in workload proof and algorithm.Improvements have been made, such as the adoption of proof-of-stake and SCrypt algorithms. Subsequently, the blockchain ecosystem continued to evolve around the world, with the emergence of initial coin offerings (ICO); the smart contract blockchain Ethereum; the asset tokenization sharing economy with “light ownership, heavy usage rights”; and blockchain countries. People are using this shared value system to develop decentralized computer programs in all walks of life and build decentralized autonomous organizations and decentralized autonomous communities around the world.