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⑴ What are the characteristics of blockchain?

According to reports, blockchain has the advantages of decentralization, trustlessness and non-tampering.

Compared to the Internet, the blockchain network conceived by Cosmos also realizes asset value transfer while exchanging information. Through the IBC cross-chain protocol, cross-chain transfer of tokens can be achieved between blockchains developed by Tendermint Core of Cosmos. For public chains generated based on the PoW consensus mechanism such as Ethereum, Pegged Zone can be used to bridge .

Article source: Bit 110 Network

⑵ What is the public chain in the blockchain?

Public chain is also called "public chain", which refers to the whole world Anyone can enter the system at any time to read data, send confirmed transactions, and compete for accounting in the blockchain. Public blockchains are generally considered "completely decentralized" because no individual or institution can control or tamper with the reading and writing of data in it. In terms of application, public blockchain chains mainly include Bitcoin, Ethereum, Hyperledger, most altcoins, and smart contracts. The ancestor of the public blockchain chain is the Bitcoin blockchain, which has the following characteristics ：

1. The code is open source

The code is uploaded to github, and everyone can download the complete blockchain data and accept the test of the public.

2. Complete decentralization

Anyone can become a node, every node is public, everyone can participate in the calculation of the blockchain, and any node can It is not permanent, but periodic, and no center is mandatory for nodes. Anyone can read and send transactions, and transactions can be effectively confirmed on the blockchain, and anyone can participate in the consensus process. The consensus process determines which block can be added to the blockchain, and its exact current state. Everyone can receive financial rewards, proportional to their contribution in the consensus process. These public chains are often considered to be “completely decentralized.”

3. Develop decentralized applications

Program developers can easily develop decentralized applications through this public chain. Public chains can protect users’ rights and interests from the influence of program developers.

⑶ What is blockchain

Blockchain is a term in the field of information technology. Blockchain is an uninterrupted digital ledger of economic transactions that can be programmed to record not just financial transactions, but almost anything of value. Simply put, it is a decentralized, distributed database of immutable records that is managed by a cluster of computers but does not belong to any single entity. Blockchain is stored as a database or flat file.

⑷ What is the meaning of blockchain

Blockchain is a shared database. Blockchain is a distributed data storage, point-to-point transmission,New application models of computer technologies such as consensus mechanisms and encryption algorithms.

Blockchain does not belong to any industry. Blockchain is a new application model of computer technologies such as distributed data storage, point-to-point transmission, consensus mechanism, and encryption algorithm. In a narrow sense, blockchain is a chained data structure that combines data blocks in a sequential manner in chronological order, and is a cryptographically guaranteed distributed ledger that cannot be tampered with or forged.

Features

Decentralization. Blockchain technology does not rely on additional third-party management agencies or hardware facilities, and there is no central control. In addition to the self-contained blockchain itself, each node realizes self-verification, transmission and management of information through distributed accounting and storage. Decentralization is the most prominent and essential feature of blockchain.

Openness. The foundation of blockchain technology is open source. In addition to the private information of the transaction parties being encrypted, the data of the blockchain is open to everyone. Anyone can query the blockchain data and develop related applications through the public interface. Therefore, the entire System information is highly transparent.

⑸ What are the practical applications in the blockchain 1.0 era?

The development of blockchain 1.0 is closely related to digital currency, and its applications are generally concentrated in currency transfer, exchange and payment. In a sense, blockchain technology during this period found a solution to the decentralization of currency and payments.

Currency and payment constitute the most significant applications in the blockchain 1.0 era. A series of virtual currencies represented by Bitcoin have emerged, such as Litecoin, Dogecoin, Ripple, Futurecoin, and Peercoin. Etc., thousands of digital currencies have been produced around the world, and there are about 700 types still in operation. These "alternative currencies" act as "cash" on the Internet, opening up another world in the financial field. In the application scenario of virtual currency, individuals can use a decentralized, distributed and global way to allocate and trade various resources.

The blockchain during this period has set off a huge wave in the financial field. In areas related to transfers, remittances and digital payments, blockchain technology has attracted much attention. In these fields, the traditional method requires tedious processing processes such as the account opening bank, counterparty bank, clearing organization, overseas bank (agent bank or overseas branch) through central institutions such as banks, which takes a long time and is costly. After applying blockchain technology, payment can realize end-to-end transactions, eliminating the cumbersome intermediary processing links. It is not only fast, but also has very low transaction costs. Especially in terms of cross-border payments, the blockchain-based payment system can provide users with global cross-border, real-time payment and clearing services in any currency. Cross-border payments will be completed instantly at a low cost.

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⑹ Characteristics of blockchain

1. Decentralization

The so-called decentralization means that because blockchain uses distributed computing and storage, There is no centralized hardware or management organization. The rights and obligations of any node are equal. The data blocks in the system are jointly maintained by nodes with maintenance functions in the entire system.

2. Openness

The so-called openness means that the blockchain system is open. In addition to encrypting the private information of the transaction parties, the blockchain data is open to everyone. Public, anyone can query blockchain data through the public interface and develop related applications. The information of the entire system is highly transparent.

3. Autonomy

The autonomy feature of blockchain is based on specifications and protocols. The blockchain adopts consensus-based specifications and protocols (such as open and transparent algorithms), so that all nodes in the system can freely and securely exchange data in a trustless environment, changing trust in "people" to machines. trust, no human intervention can work.

4. Information cannot be tampered

< p>The so-called information cannot be tampered with, that is, once the information is verified and added to the blockchain, it will be stored permanently. Unless more than 51% of the nodes in the system are controlled at the same time, modifications to the database on a single node will be invalid.

Because of this, the stability and reliability of blockchain data are very high. Blockchain technology has fundamentally changed the centralized credit creation method, using mathematical principles rather than centralized credit institutions. To establish credit at low cost, birth certificates, real estate certificates, marriage certificates, etc. can be notarized on the blockchain, with a global central node, becoming something that is trusted by the world.

5. Anonymity

The so-called anonymity means that the exchange between nodes follows a fixed algorithm. The data interaction does not require trust, and the counterparty does not need to disclose its identity. The other party has trust in you, which is conducive to the accumulation of credit.

Lianxin is a blockchain application with tens of millions of member users. It has its own Quark blockchain as a public chain, qkibill open source wallet, and independent block browser. It is a completely independent A blockchain platform where users control their own data. Quark Chainchain’s innovative blockchain plus life service platform is committed to creating better blockchain services. The Chainchain Blockchain has the above characteristics and is a real blockchain chain project.

⑺ What are the characteristics of decentralization in blockchain technology?

The characteristics of decentralization in blockchain technology are decentralization, trustlessness, and collective maintenance.

1. Decentralization: The entire network has no centralized hardware or management organization, any nodeThe rights and obligations between them are equal, and the damage or loss of any node will not affect the operation of the entire system. Therefore, the blockchain system can also be considered to have excellent robustness.

2. De-trust: There is no need to trust each other for data exchange between each node participating in the entire system. The operating rules of the entire system are open and transparent, and all data contents are also public, so Within the rule range and time range specified by the system, nodes cannot and cannot deceive other nodes.

3. Collective maintenance: The data blocks in the system are jointly maintained by all nodes with maintenance functions in the entire system, and anyone can participate in these nodes with maintenance functions.

(7) Extended reading of blockchain characteristic pictures

Blockchain technology has never excluded supervision, and supervision nodes can easily access any Blockchain network. Due to the open and transparent nature of the blockchain, regulatory agencies can more easily monitor the transaction data of the entire system, and due to the tamper-proof nature of the blockchain.

Once a transaction occurs, it cannot be changed or deleted. It is impossible for data fraud to deceive supervision, which is more conducive to regulatory agencies' supervision of market behavior. It can be seen that blockchain will become an important tool for regulatory technology (RegTech).

Reference source: Network-Blockchain