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区块链是什么意思?,区块链是穷人的最后一次机会

发布时间:2023-12-06-06:53:00 来源:网络 区块链知识 区块

区块链是什么意思?,区块链是穷人的最后一次机会


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『一』What exactly is the blockchain?

What exactly is the blockchain? In essence, blockchain is a distributed, decentralized network database system that will make the storage, update, maintenance, and operation of data different. Blockchain has four indispensable core technologies, namely: distributed storage, consensus mechanism, cryptography principles, and smart contracts.

Then let’s talk about how blockchain is different from traditional data processing to help everyone understand what blockchain is and give everyone a general understanding of blockchain. Cognition.

1. Data storage in blockchain: block chain data structure

In terms of data storage, blockchain technology utilizes "block chain data structure" To verify and store data.

What does the blockchain structure mean? Everyone has seen an iron chain, with one link within another. In fact, each link can be regarded as a block, and many links are linked together to form a blockchain.

How does this so-called "iron chain" store data? To put it simply, the difference between blockchain and ordinary stored data is that on blockchain, the data in the next block includes the data in the previous block.

Take reading as an example: when we read a book, we finish page 1, then page 2, page 3...
What about in the blockchain? If each block is marked with a page number, then the content on page 2 contains the content on page 1, the content on page 3 contains the content on page 1 and page 2...Page 10 contains The content of the first 9 pages is such a chain nested layer by layer. In this way, the most original data can be traced back. This is the traceability of the blockchain.

The "blockchain data structure" of blockchain makes it traceable, which is naturally suitable for many fields, such as: food traceability, drug traceability, etc. In this way, the probability of tainted milk powder, fake vaccines, and fake and substandard food incidents will be greatly reduced, because once a problem occurs, through traceability, we can clearly know which link caused the problem, and accountability and recovery will be clearer.

2. Data update in the blockchain: distributed node consensus algorithm

In terms of data update, blockchain technology uses the "distributed node consensus algorithm" to Generate and update data.

Every time a new block is generated (that is, when data is updated), an algorithm needs to be used to obtain the approval of more than 51% of the nodes in the entire network to form a new block. To put it bluntly, it is a vote, and it can be generated if more than half of the people agree, which makes the data on the blockchain non-tamperable.

WhySo what do you mean? Let’s make an analogy: we compare the blockchain to a ledger, because it records data. In the traditional world, the bookkeeping power lies with the bookkeeper, and the ledger belongs to the bookkeeper alone. So in the blockchain, everyone owns this account book. If you want to update the account, you must vote. Only if more than half of the people agree can you update the account data.

In this process, we will involve several terms: distributed, node, consensus algorithm. These terms are actually very easy to understand:

Everyone Accounting (that is, everyone has a ledger, and the ledger is scattered in everyone's hands) is the so-called "distributed";

The accounting method that everyone discusses, votes for, and unanimously agrees on is The so-called "consensus algorithm";

Every person participating in accounting is a so-called "node".

3. Data maintenance in blockchain: cryptography

In the data maintenance stage, the difference of blockchain is that it uses cryptography to Ensure the security of data transmission and access.

The cryptographic principles applied in the blockchain mainly include: hash algorithm, Merkle hash tree, elliptic curve algorithm, and Base58. These principles actually ensure data security on the blockchain through a series of complex operations and conversions.

4. Data operations in the blockchain: smart contracts

A smart contract is a commitment agreement defined and automatically executed by a computer program. To put it bluntly, it is executed with code A set of transaction rules, similar to the current automatic repayment function of credit cards. If you turn this function on, you don't have to worry about anything. The bank will automatically deduct the money you owe when it expires.

The outstanding advantage of smart contracts is that they largely avoid a series of problems caused by trust.
Many of us have encountered the situation of being borrowed money: a friend who is short of money borrows 2,000 yuan from you and promises to pay back the money after the salary is paid next month, but next month he finds other excuses. Also, dragging this matter around would be pointless. We didn't have much money, but we were still friends. Even though you were depressed, let it go.

Then, with the smart contract, he can no longer default on his debt, because in the smart contract, once the terms in the contract are triggered, the code will automatically execute, whether he wants it or not, as long as he sends Once you have earned your salary and have money in your account, he has to pay you back.

To summarize the contents of this section, there are four indispensable core technologies in the blockchain, namely: distributed storage, consensus mechanism, cryptography principles, and smart contracts.

We can understand it this way: distributed storage corresponds to the data storage stage, and the consensus mechanism corresponds to data processing.At this stage of management update, cryptography corresponds to data security, and smart contracts correspond to data operation issues.

『二』What is blockchain

[Definition]

Blockchain refers to the method of decentralization and trustlessness A technical solution for collectively maintaining a reliable database. This technical solution allows any number of nodes participating in the system to calculate and record all information exchange data in the system over a period of time into a data block (block) through cryptographic algorithms, and generate the fingerprint of the data block for linking ( chain) and check the next data block, all participating nodes in the system jointly determine whether the record is true.

Blockchain is a general term for technical solutions similar to NoSQL (non-relational database). It is not a specific technology. Blockchain technology can be implemented through many programming languages ​​and architectures. . There are also many ways to implement blockchain. Common ones currently include POW (Proof of Work), POS (Proof of Stake), DPOS (Delegate Proof of Stake), etc.

The concept of blockchain was first proposed in the paper "Bitcoin: A Peer-to-Peer Electronic Cash System" by the author who calls himself Satoshi Nakamoto (Satoshi Nakamoto) individual (or group). Therefore, Bitcoin can be regarded as the first application of blockchain in the field of financial payments.

[Popular explanation]

No matter how big the system or how small the website, there is usually a database behind it. So who will maintain this database? Under normal circumstances, whoever is responsible for operating the network or system will maintain it. If it is a WeChat database, it must be maintained by Tencent's team, and Taobao's database must be maintained by Alibaba's team. Everyone must think that this approach is natural, but this is not the case with blockchain technology.

If we imagine the database as a ledger: Alipay, for example, is a typical ledger, and any change in data is an accounting type. We can think of database maintenance as a very simple accounting method. The same is true in the world of blockchain. Everyone in the blockchain system has the opportunity to participate in accounting. The system will select within a period of time, maybe within ten seconds, or maybe ten minutes, to select the person with the fastest and best accounting during this period. This person will do the accounting, and he will combine the changes in the database during this period with Changes in the ledger are recorded in a block. We can imagine this block as a page.After the system confirms that the record is correct, it will link (chain) the data fingerprint of the past ledger to this paper, and then send this paper to everyone else in the entire system. Then the cycle starts over and the system looks for the next person who can do the accounting quickly and well, and everyone else in the system gets a copy of the entire ledger. This means that everyone in this system has exactly the same ledger. This technology is called blockchain technology, also known as distributed ledger technology.

Since everyone (computer) has exactly the same ledger, and everyone (computer) has exactly the same rights, there will be no problem due to a single person (computer) losing contact or going down. The entire system collapses. Since there are exactly the same ledgers, it means that all data is open and transparent, and everyone can see the digital changes in each account. Its very interesting feature is that the data in it cannot be tampered with. Because the system will automatically compare, it will consider the account books with the largest number of the same number as the real account books, and the small number of account books with different numbers as others are false account books. In this case, it makes no sense for anyone to tamper with their own ledger, because unless you can tamper with most of the nodes in the entire system. If the entire system has only five or ten nodes, it may be easy to do, but if there are tens of thousands or even hundreds of thousands of nodes, and they are distributed in any corner of the Internet, unless someone can control most of the computers in the world , otherwise it would be unlikely to tamper with such a large blockchain.

[Elements]

Combined with the definition of blockchain, we believe that it must have the following four elements to be called a public blockchain technology. If it only has the first three points elements, which we will consider as private blockchain technology (private chain).

1. Point-to-point peer-to-peer network (peer-to-peer power, physical point-to-point connection)

2. Verifiable data structure (verifiable PKC system, non-tamperable database)

3. Distributed consensus mechanism (solve the Byzantine generals problem and double payment)

4. Nash equilibrium game design (cooperation is an evolutionarily stable strategy)
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[Characteristics]

Combined with the definition of blockchain, blockchain will realize four main characteristics: decentralized, trustless, Collectively maintained (Collectively maintained), reliable database (Reliable Database). And the four characteristics will lead to two other characteristics: open source (Open Source), privacy protection (Anaymity). If a system does not possess these characteristics, it will not be considered an application based on blockchain technology.

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

Trustless: Each node participating in the entire system does not need to trust each other for data exchange. The operating rules of the entire system are open and transparent, and all data contents are also public. , therefore within the rule range and time range specified by the system, nodes cannot and cannot deceive other nodes.

Collectively maintain: The data blocks in the system are jointly maintained by all nodes with maintenance functions in the entire system, and these nodes with maintenance functions can be participated by anyone.

Reliable Database: The entire system will be divided into databases so that each participating node can obtain a copy of the complete database. Unless more than 51% of the nodes in the entire system can be controlled at the same time, modifications to the database on a single node are invalid and cannot affect the data content on other nodes. Therefore, the more nodes and stronger computing power participating in the system, the higher the data security in the system.

Open Source: Since the operating rules of the entire system must be open and transparent, for the program, the entire system must be open source.

Privacy protection (Anonymity): Since nodes do not need to trust each other, there is no need to disclose their identities between nodes. The privacy of each participating node in the system is protected. protected.

『三』 What is a 51% computing power attack in the blockchain?

In the Bitcoin white paper, there is such a statement: the sum of the computing power controlled by honest nodes is greater than that of The system is safe if the sum of the computing power of the attackers in the cooperative relationship.

In other words, when the computing power controlled by malicious nodes that have a cooperative relationship in the system exceeds the computing power controlled by honest nodes, the system is at risk of being attacked. This kind of attack initiated by a malicious node controlling more than 50% of the computing power is called a 51% attack.

Are all cryptocurrency systems at risk of a 51% computing power attack? In fact, it is not true. Only cryptocurrencies based on the PoW (Proof of Work) consensus mechanism have 51% computing power attacks. Compared withSuch as Bitcoin, Bitcoin Cash and the current Ethereum, etc.; there is no 51% computing power attack on cryptocurrencies with non-PoW consensus algorithms, such as EOS, TRON, etc. based on the DPoS (Delegated Proof of Stake) consensus mechanism.

After learning about the 51% computing power attack, you must be curious about what bad things this attack can do.

1. Double Spending. Double spending means that a piece of "money" is spent twice or even multiple times.

How does the 51% computing power attack achieve double spending? Assume that Xiao Hei has 666 BTC. He pays Dabai these coins and also sends these coins to another wallet address of his. In other words, Xiao Hei's share of money is transferred to two people at the same time. In the end, the transaction sent to Dabai was confirmed first and packaged in a block with a block height of N.

At this time, Xiaohei, who controlled more than 50% of the computing power, launched a 51% computing power attack. By reassembling the Nth block, he packaged the transaction sent to him into the block, and continued to extend the blocks on this chain. Due to the advantage of computing power, this volume will become the longest legal chain. In this way, Xiao Hei successfully double spent 666 BTC, and the 666 BTC in Da Bai's wallet "disappeared".

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『四』What is a 51% attack in the blockchain

To briefly explain, a 51% attack, also called a majority attack, means that malicious miners control the blockchain network 50 % or more of the hashrate (computing power), then launch an attack on the network and take over the blockchain network, allowing criminals to reverse transactions, stop payments, or prevent new transactions from being confirmed.
Details of the 51% attack can be learned on the Crypto Finance Network,

『五』Blockchain Science Guide: What is a 51% attack

In the encryption world, when A 51% attack occurs when one person or group of people controls 50% + 1 of the network units. No one said 50% + 1 unit, so it was simply called 51% attack.

When a team manages to control a large portion of the network linked to a particular blockchain, it is considered to have absolute power over it over the entire blockchain, which means the integrity and security of transactions Guarantees are no longer available.

How can blockchain resist 51% attacks?

Cryptocurrencies have different ways to protect themselves against 51% attacks. no doubt,Most notably, there is a massive network of miners around the world that includes tens or even hundreds of thousands of people, making it extremely expensive to control this network.

In this case, the blockchain is usually automatically secured because the resources required to take over the cryptocurrency are far more significant and an attack does not necessarily cover the cost once the network is under control.

Without going into too many details, let's just say that additional security mechanisms can be added with the goal of making this kind of attack impossible. This can be achieved by using a system with multiple controls, which sometimes increases the requirements of this attack from 51% of computing power to 75%, 90%, and sometimes even 99%.

In other cases, some blockchains have chosen reputable centralized participants who authorize transaction verification to avoid such attacks. However, some purists dislike this idea because it defeats the purpose of blockchain, which is to decentralize transactions.

Should we really be worried about 51% attacks?

Bitcoin has never suffered a 51% attack since its inception, and is unlikely to suffer such an attack. The network is so vast that the cost of doing this would be prohibitively high.

Furthermore, when it becomes clear that a blockchain is experiencing a 51% attack, it is almost certain that all token holders will decide to sell their assets immediately, which will result in the loss of value. So, mathematically speaking, it doesn't make much sense for a group of people to try to control a cryptocurrency.

To get an idea of ​​the resources required to carry out a 51% attack, there is a nice little website called Crypto51 that allows you to find out the hash rate required to carry out such an attack and the cost in dollars per hour.

Conclusion on 51% Attacks

We hope you now have a better understanding of the concept of 51% attacks and how they work. As you can see, they require huge resources and may still not be worth the trouble.

51% attacks are, in theory, a major problem with Proof of Work (PoW) systems. However, in practice, once a blockchain is sufficiently developed, the risk approaches zero.

For new or small-cap digital currencies, once again, there is no real interest for hackers to conduct such an attack, as the price of the cryptocurrency can drop to 0 very quickly, preventing the group from reaping financial benefits.

『Lu』 What is blockchain

Blockchain is essentially a decentralized database. It is a new application model of distributed data storage, point-to-point transmission, consensus mechanism, encryption algorithm and other computer technologies.

The characteristics of blockchain are as follows:

Decentralization: Because of the decentralization of blockchain, it can help peer-to-peer transactions, so whether you are trading or exchanging fundsNo third-party approval is required. 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 the Chulao Blockchain.

Anonymity: Unless required by legal regulations, technically speaking, the identity information of each block node does not need to be disclosed or verified, and information transfer can be carried out anonymously. The anonymity feature of blockchain protects user privacy to a certain extent.

However, the anonymity of blockchain is also quite controversial, because it plays an important protective role in people's transactions and privacy, and also provides a "protective umbrella" for some illegal and criminal activities.

『撒』 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.

『8』 A brief explanation of what a 51% attack is

You may subconsciously think that cryptocurrency is safe and reliable. How should I put it, even if cybercriminals frequently attack exchanges and hot wallets with incredible regularity, the underlying blockchain technology itself is naturally resistant to attacks, right?

Well, not really. Blockchains are vulnerable to so-called “51% attacks.”

A 51% attack (also known as a "majority attack") can occur when a group of miners control more than 50% of a token's hashing power (computing power). Actually, “51%” is actually a misnomer; a successful attack actually only requires 50% + 1 hashing power.

If a group can achieve such a high level of control, it can easily destroy the currency in the following ways.

Prevent new blocks from being created by not confirming

Undo completed transactions on the current block

Initiate a "double spend" on the network

50% + 1 is the hashing power required to ensure a successful attack. However, it is also possible to successfully conduct an attack with lower hash power. The security team used statistical modeling to show that when controlled hashing power reaches about 30%, the risk of vulnerabilities may start to increase.

Bitcoin, as well as several other major currencies, use a proof-of-work mechanism to verify transactions and broadcast them to the blockchain.

In the white paper, the creation of BitcoinThe founder Satoshi Nakamoto succinctly summarized this process as "one CPU, one vote":

"Proof of Work" is essentially one CPU, one vote, and the longest chain represents the majority of judgments. , because this chain has the largest amount of “proof of work” input. If the majority of the CPU power is controlled by honest nodes, the honest chain will grow faster than other competing chains.

You may have noticed the big problem in the above quote: "If most of the CPU power is controlled by honest nodes..."

When dishonest nodes Problems arise when the number exceeds honest nodes. In these cases, they can "vote out" legitimate miners, ensuring that they themselves control the longest chain, and thus the entire cryptocurrency.

Satoshi Nakamoto postulated that even if a miner could control more than 50% of the nodes, he might still "play by the rules" to protect his wealth:

If a greedy attacker With the ability to control more CPU power than an honest miner, he will be forced to choose between cheating to steal back the money he paid (Translator's Note: a double-spend attack), or (obtaining) the new currency generated. He should find it more profitable to act by rules that help him acquire more new currency than everyone else combined, rather than disrupting the system and compromising the effectiveness of his own wealth.

Unfortunately, cybercriminals don’t exactly follow the rules. Since the release of Satoshi Nakamoto’s white paper, there have been numerous cases of 51% attacks.

So far we have used Bitcoin to illustrate how a 51% attack can occur.

However, while on a technical level Bitcoin is vulnerable, on a more practical level it is unlikely to fall victim to this attack for three reasons:

1. Cost

The Bitcoin network is huge, and obtaining enough hashing power for attacks requires a considerable amount of capital investment.

​According to Crypto51, an hour-long hack of Bitcoin cost $237,941. The cost of an attack on Ethereum is equally prohibitive – it would cost $74,837.

2. Mining Pools

Today, the largest cryptocurrency mining pools are widely distributed.

This wasn’t always the case; in 2014, Ghash.io probably controlled 51% of Bitcoin’s hashing power. Bitcoin was obviously far less influential then than it is now, but it was still a cause for concern.

I have to say that Ghash.io is reliable. They almost immediately gave up 10% of their computing power and asked the community to voluntarily limit their computing power to 40% to protect the long-term integrity of the blockchain.

The hash power of the largest Bitcoin mining pools now hovers around 20%.

3. NiceHash

NiceHash is the world’s largest cryptocurrency mining computing power market.

According to Crypto51 estimates, the total power that NiceHash can generate is less than one percent of the total power of the Bitcoin network. Ethereum is 5% and Bitcoin Cash is 2%. The percentages for all major coins remain similarly low.

Therefore, even the weaponized NiceHash is not powerful enough to conduct a 51% attack on mainstream coins.

When you look at smaller coins, things start to change dramatically.

Just like the top ten currencies by market capitalization, attacks on them are basically sky-high prices, and it is hard to say for the lower rankings. Its corresponding NiceHash percentage also begins to increase. There are also some worrying percentages for larger coins. 82% for Ethereum Classic, 79% for Monero…

The vulnerability of smaller coins came into focus when Bitcoin Gold suffered a 51% attack in May 2018.

Bitcoin Gold – a hard fork from Bitcoin in 2017 – was not even six months old at the time.

So much so that the project’s spokesman, Edward Iskraal, had to tell all exchanges that can trade Bitcoin Gold to increase the number of confirmations from 5 to 50 and manually review whether large transactions There is suspicious activity.



“The cost of a sustained attack is high. Because of the high cost, attackers can only profit by quickly obtaining something of high value from fake deposits. Like exchanges Venues like this can automatically accept large deposits, allowing users to quickly trade another currency and then automatically withdraw. Before liquidating trading funds, we have always recommended setting a cap to prevent such attacks, and urge manual review of large deposits on BTG ."

Over a long period of time, we are almost certain that the number of 51% attacks will continue to increase.

But is there a silver lining? It’s hard to say what tangible benefits the thousands of altcoins currently in existence bring to end users. If the crypto world can consolidate around some of the larger coins as a result, then a 51% attack may not be an absolute bad thing for the long-term health of the industry.

『玖』 What is the concept of blockchain? What exactly is blockchain? Read it in three minutes!

On October 25, 2019, Xinwen Broadcast sent a very important signal: the country must vigorously develop blockchain. After that, blockchain has become an Internet celebrity, and the figure of "blockchain" is floating in the streets and alleys. In fact, many technology companies have already deployed blockchain technology.

Although blockchain is very popular, many people do not know much about blockchain.

What is blockchain?

Let’s first take a look at how Du Niang explained it. Network display: Blockchain is a new application model of computer technologies such as distributed data storage, point-to-point transmission, consensus mechanism, and encryption algorithms.

Why is blockchain called blockchain?

The blockchain is linked by blocks one by one, and the blocks are storage units one by one, which record the communication information of each block node. The blocks are much like the records of the database. Writing data every time creates a block. With the expansion of information exchange, one block continues with another, and the result is called a blockchain.

What are the characteristics of blockchain?

Blockchain mainly has the following characteristics:

1. Decentralization: In the blockchain system, every node has equal rights. and obligations, there is no central control here. Decentralization has well established trust relationships with each other. Although there is no central management organization, people can collaborate with each other and trust each other. This mainly applies blockchain distributed ledger technology.

2. Openness: Blockchain data is open to everyone. Except for some encrypted information that is not open, everyone can check the data here.

3. Independence: The entire blockchain system does not rely on other third parties. All nodes can automatically and securely verify and exchange data within the system without any human intervention.

4. Security: Blockchain has a certain degree of security and cannot be tampered with. Because everyone in the blockchain system has the same ledger, if someone wants to tamper with it, it is possible to forge a non-existent record only if they control more than 51% of the accounting nodes. Of course, this is basically impossible. This is mainly due to the core technology of the blockchain: the consensus mechanism. The consensus mechanism has the characteristics of "the minority obeys the majority" and "everyone is equal".

5. Anonymity: Many people think that if the blockchain is so open and transparent, will we lose privacy? In fact, no, although the transaction information in the blockchain is open and transparent, the identity information of the account is encrypted and can only be accessed with authorization.

Now let me tell you a story to help you better understand the blockchain.

There are three people in the family, mom, dad, older brother and younger brother. Last year, my father was in charge of the family's account books. He was responsible for all the family's income and expenses alone.

However, on the day of Double Eleven, my mother, who has always been frugal, wanted to buy herself a beautiful piece of clothing on a certain online store. When she checked the account book, she found something was wrong. It stands to reason that except for some money deposited in banks and financial management, the whereabouts of the daily consumption money at home are all in this account book, but no matter how you look at it, it is wrong. Some consumption is clearly not recorded, but is recorded.

Later, my father took the initiative to confess that he couldn’t help but buy a pack of cigarettes.

Later, my mother changed her strategy and the whole family kept accounts. Everyone recorded their monthly consumption expenditure in their own account books. Whenever there was a transaction or consumption at home, my mother would shout, "Book it," and everyone would record the transaction in their own books. This is the decentralized accounting model, where everyone is the center and everyone has a ledger.

The previous accounting model for dad was centralized accounting. If dad wanted to do something alone, it would be difficult for anyone to see it. The decentralized accounting model has solved the problem of centralization very well. The disadvantage of bookkeeping is that it is very difficult for dad to tamper with the books.

For example, if dad wants to take some money from the ledger and secretly buy cigarettes, the amount of money is limited, and if he wants to take the money, he has to change the ledger, but he only tampered with his own ledger. No, he had to change the accounts of three people including himself. And this is undoubtedly more difficult than reaching the sky.

So, many times my father had the idea of ​​smoking, but he had no choice but to give up the idea due to the current situation.

Are blockchain and Bitcoin the same thing?

In fact, blockchain and Bitcoin are not the same thing. It is just the underlying technology of Bitcoin. Bitcoin is the first digital currency applied by blockchain.

In 2008, Satoshi Nakamoto first proposed the concept of blockchain. In the following years, it became a core component of the electronic currency Bitcoin, serving as a public account book for all transactions. Blockchain was first applied to Bitcoin.

The origin of blockchain is to solve the problem of trust, and one of the most successful applications of blockchain is digital currency. Bitcoin is arguably the most successful application of blockchain so far.

What are the applications of blockchain?

The application of blockchain is actually very wide. In addition to digital currency, the future applications of Bitcoin are still very extensive. Blockchain technology has been widely used in different industries. Such as product traceability, copyright protection and transactions, paymentPayment settlement, Internet of Things, digital marketing, medical care, etc., promote different industries to quickly enter the "blockchain+" era.

1. Payment and clearing: Blockchain can abandon the role of transit banks, realize point-to-point payment, reduce transit fees, and accelerate fund utilization.

2. Product traceability: For example, if we buy a piece of clothing on a certain store, we can see the past and present life of this piece of clothing.

3. Securities trading: Traditional securities trading requires the coordination of four major institutions, which is inefficient and costly. Blockchain technology can independently complete one-stop services.

4. Supply chain: Introducing blockchain technology into the supply chain system, synchronizing information within the system can control all links, better complete division of labor and collaboration, and facilitate subsequent accountability.

5. Intellectual property rights: With copyright on the chain, our photographic works, musical works, literary works, etc. will become our information, and the ownership of the information will be confirmed and become our property.