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Ⅰ The component structure of blockchain technology
With the continuous development of the Internet, more and more people have learned about blockchain technology Today we will introduce some of the characteristics and usage of blockchain. What are some elements of blockchain.
The composition of blockchain
Blockchain consists of blocks and chains. Each block contains three elements: data, hash value, and the hash value of the previous block.
The first element of the block is data. The data stored in the block is related to the type of blockchain. For example, blocks in the Bitcoin blockchain store relevant transaction information, including the seller, buyer, and the amount of Bitcoin traded.
The second element of the block is the hash value. Each block contains a hash value, which is used to identify a block and all the content it contains. Once a block is created, its hash value is calculated accordingly. Changing something in the block will cause the hash value to change. So in other words: hashes are helpful when you want to detect changes to the contents of a block. If a block's fingerprint changes, it is no longer the same block as before.
The third element of the block is the hash value of the previous block. This element allows links to be formed between blocks and makes the blockchain very secure.
As an example, suppose we have a blockchain containing 3 blocks. Each block contains its own hash and the hash of the previous block. Block No. 3 points to block No. 2, and block No. 2 points to block No. 1. But block No. 1 is a bit special. It cannot point to the previous block because it is the first block. We call block 1 the genesis block.
So, now let's say you tampered with the second block. This will cause the hash value of the second block to change, so the data stored in block 3 will be wrong and illegal. Once the data stored in block No. 3 is illegal, the subsequent blocks must also be illegal.
So if a person wants to tamper with any block in the blockchain, he must modify this block and all blocks after this block. This will be an onerous task.
Blockchain proof-of-work
However, the method of using hash values alone is not enough to prevent users from tampering with the zone. piece. Because today's computers are powerful enough to calculate thousands of hash values per second. The Java course suggests that you can completely tamper with a block and recalculate the hash values of other blocks, thus making your block legal again.
II What is blockchain technology? What is the core component of blockchain technology?
What isBlockchain technology? What are the core components of blockchain technology? What is blockchain technology:
Blockchain is a new application model of computer technology such as distributed data storage, point-to-point transmission, consensus mechanism, encryption algorithm, etc. The so-called consensus mechanism is a mathematical algorithm that establishes trust and obtains rights and interests between different nodes in the blockchain system.
Blockchain is an important concept of Bitcoin. It is essentially a decentralized database and serves as the underlying technology of Bitcoin. The blockchain is a series of data blocks generated using cryptographic methods. Each data block contains information about a Bitcoin network transaction and is used to verify the validity of its information (anti-counterfeiting) and generate the next block.
The core components of blockchain technology:
Blockchain mainly solves the trust and security issues of transactions, so it proposes four technological innovations to address this issue:
The first one is called distribution A type of ledger means that transaction accounting is completed by multiple nodes distributed in different places, and each node records a complete account, so they can all participate in supervising the legality of the transaction and can also jointly testify for it.
Different from traditional distributed storage, the uniqueness of blockchain distributed storage is mainly reflected in two aspects: First, each node of the blockchain stores complete data according to the block chain structure. Traditional distributed storage generally divides data into multiple parts for storage according to certain rules. Second, the storage of each node in the blockchain is independent and of equal status, relying on the consensus mechanism to ensure storage consistency, while traditional distributed storage generally synchronizes data to other backup nodes through the central node. [8]
No node can record ledger data independently, thus avoiding the possibility of a single bookkeeper being controlled or bribed to record false accounts. Also because there are enough accounting nodes, theoretically speaking, the accounts will not be lost unless all nodes are destroyed, thereby ensuring the security of the accounting data.
The second one is called asymmetric encryption and authorization technology. The transaction information stored on the blockchain is public, but the account identity information is highly encrypted and can only be accessed with the authorization of the data owner. This ensures data security and personal privacy.
The third one is called the consensus mechanism, which is how all accounting nodes reach a consensus to determine the validity of a record. This is both a means of identification and a means of preventing tampering. Blockchain proposes four different consensus mechanisms, which are suitable for different application scenarios and strike a balance between efficiency and security.
The consensus mechanism of the blockchain has the characteristics of "the minority obeys the majority" and "everyone is equal". "The minority obeys the majority" does not entirely refer to the number of nodes, but can also be computing power, the number of shares, or other factors. A characteristic quantity that a computer can compare. "Everyone is equal" means that when nodes meet the conditions, all nodes have the right to propose consensus results first., after being directly recognized by other nodes, it may eventually become the final consensus result. [8]
Taking Bitcoin as an example, it uses proof of work. Only when more than 51% of the accounting nodes in the entire network are controlled, it is possible to forge a non-existent record. When there are enough nodes joining the blockchain, this is basically impossible, thus eliminating the possibility of fraud.
The last technical feature is called smart contracts. Smart contracts are based on these trustworthy and non-tamperable data and can automatically execute some predefined rules and terms. Take insurance as an example. If everyone's information (including medical information and risk occurrence information) is true and trustworthy, it will be easy to automate claims settlement in some standardized insurance products.
In the daily business of insurance companies, although transactions are not as frequent as those in the banking and securities industries, the reliance on trusted data continues unabated. Therefore, the author believes that using blockchain technology from the perspective of data management can effectively help insurance companies improve their risk management capabilities. Specifically speaking, it is mainly divided into risk management of policyholders and risk supervision of insurance companies.
Chongqing Jinwowo Analysis: The consensus mechanism is the core of blockchain technology. The consensus mechanism largely determines the degree of mutual trust between nodes in the entire blockchain system, and also determines other users’ views on the blockchain. The degree of trust in online data
What is the core component of blockchain technology? Analysis by Chongqing Jinwowo: Blockchain technology consists of three core technologies: consensus mechanism, common defense mechanism, and distributed storage.
The three core technologies are supported by machine trust, that is, through the support of network technology, breakthroughs in difficult problems such as point-to-point transaction, decentralization, non-tampering of recorded information, irreversible transactions, and information encryption are achieved through network technology support.
The development of blockchain technology is becoming more and more prosperous with the continuous expansion of applications. This powerful development force coming from the needs of various industries has caused rapid changes in blockchain technology, allowing various industries to achieve great results. The results are attracting more and more attention, and professional technologies and resources are constantly concentrated in this industry, thus bringing the development of blockchain technology to a new stage, and the impact of this development of blockchain technology has also much attention.
When talking about blockchain technology, Bitcoin has to be mentioned. Many people know that the electronic currency Bitcoin does not rely on the issuance of a specific monetary institution, but is generated through a large number of calculations by a specific algorithm. In fact, the core that truly supports Bitcoin is blockchain technology.
How does the invisible and intangible Bitcoin operate through blockchain technology? The interpretation circulated in the industry is that blockchain can be regarded as a technical solution for collectively maintaining reliable databases through "decentralization" and "trustlessness". In layman's terms, this technology can be understood as a technology that involves all parties involved in accounting. In the past, people used a TaichungCentralized server accounting, and in the blockchain technology system, everyone can participate in accounting and jointly determine the authenticity of the records.
"Through this technology, even if there is no neutral third-party organization, two parties that do not trust each other can achieve cooperation. In short, the blockchain is like a 'machine that creates trust.'" Bubi Company It is a leading blockchain service provider in China and has made many breakthroughs in the blockchain technology platform. It can meet scenarios with tens of millions of users and has the ability to quickly build upper-layer application businesses.
The blockchain technology used by all parties involved in recording and storing information adopts a decentralized distributed structure, which saves a lot of intermediary costs and can better ensure data security; at the same time, it has a time stamp that cannot be tampered with. It can effectively solve problems such as data tracking and information anti-counterfeiting.
Will it become the next trend of Internet finance?
Although blockchain emerged with Bitcoin, the derived value of this technology has transcended digital currency. Bubi Blockchain focuses on the innovation of blockchain technology and products. It already possesses a number of core technologies and has developed its own blockchain service platform. With decentralized trust as the core, we are committed to building an open value circulation network to allow digital assets to flow freely. What Bubi wants to do is to create a new technology and product - to realize real value circulation and bring the Internet to a new level. With the application of this technology, there will be no central organization when transferring assets, and direct transfer of assets between us can be achieved.
In the current international financial market, the U.S. Central Bank, Swiss Bank, and some insurance and futures companies are all competing to develop blockchain technology. Fang Liang introduced that in the Internet financial industry, blockchain technology will first affect financial infrastructure such as payment systems, securities settlement systems, and transaction databases; later, the technology will also expand to general financial services, such as credit systems and "anti-money laundering" "wait.
"The payment and clearing system in the financial field will evolve towards decentralization. The electronic ledger supported by blockchain technology is a reliable system that is error-free and cannot be tampered with. It has various functions for payment, clearing, transaction, confirmation of rights, etc. A profound impact," Li Yan said.
Therefore, industry insiders believe that blockchain technology may be the next trend in the Internet financial industry. As the interconnection of all things deepens, Yang Tao, assistant director of the Institute of Finance, Chinese Academy of Social Sciences, also said that blockchain will make it possible for all individuals to become important nodes in the allocation of financial resources, and will also promote the improvement of existing financial system rules. Build a shared and win-win financial development ecosystem.
Blockchain technology will affect many industries
"Blockchain technology has been widely used in the era of big data." Li Yan said frankly that in addition to the Internet financial field, blockchain technology has been used in many industries. It has been applied in many fields and has shown great prospects.
For example, the healthcare industry has benefited greatly from blockchain technology. In reality, patient private information leaks often occur, and medical departmentsCentralized database or file cabinet management is no longer the best option. Medical institutions are using blockchain technology to keep patients' private information confidential.
In addition, blockchain technology also has important legal implications. In some civil fields, it is often necessary to provide evidence to determine blame, and blockchain technology can record every step and help judicial authorities identify the specific responsible person.
"Especially in the field of assets, whether it is physical assets such as real estate and cars, or intangible assets such as health and reputation, this technology can be used to complete registration, transactions, and tracking. It can be said that any production and life that lacks trust In all fields, blockchain technology will have its place."
The development of blockchain technology has also brought about changes in the operational concepts of various industries. New technologies and new concepts have promoted new developments in various industries. This The impact of this driving force on society and the promotion of economic activities are also huge. Many new industry phenomena will occur one after another, and the public is also waiting and watching, expecting this brand-new technology to be used by various industries and better benefit all industries.
The so-called blockchain technology, also known as distributed ledger technology, is an Internet database technology that is characterized by decentralization. , open and transparent, allowing everyone to participate in database records.
Explained in layman’s terms: If the database is assumed to be a ledger, reading and writing the database can be regarded as a bookkeeping behavior. The principle of blockchain technology is to find out the fastest and best bookkeeping within a period of time. This person will keep accounts, and then send this page of information to everyone else in the entire system. This is equivalent to changing all the records in the database and sending them to every other node in the entire network, so blockchain technology is also called a distributed ledger.
What is the core technology of Jinwowo blockchain technology?
Chongqing Jinwowo analyzes the core technologies of blockchain technology as follows:
Distributed ledger technology, asymmetric encryption technology and smart contracts.
The core of the blockchain is that it stores all information in an independent personal computer network, making it a decentralized and distributed structure.
This means that the system is not owned by a controlling company or person, but that everyone can use and run the system.
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What is blockchain technology?Blockchain has been hyped up like crazy, but you know nothing about it!
Blockchain is a distributed database system participated by different nodes and an open ledger system.
It consists of a series of data blocks or data packets generated according to cryptographic methods, that is, blocks. Each block of data information is automatically timestamped, thus Calculate a data encryption value, that is, a hash value (hash).
Blockchain technology is essentially a distributed accounting technology. It allows everyone to have an instantly synchronized ledger in their hands. Every transaction that occurs in the entire network will have thousands of backups and synchronous records. When perpetrators attempt to tamper with ledger data, they must change the ledger in the hands of the majority of people to achieve their goal.
III Characteristics of Blockchain
1. Decentralization
The so-called decentralization means that because the 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
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 confidence in oneselfResponsibility 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.
IV Components of Blockchain
The components of Blockchain are as follows:
Openness: Blockchain The system data is open and transparent, and everyone can participate. For example, when renting a house, you can know the previous rental information of the house and whether there have been any problems. Of course, some personal private information is encrypted.
Autonomy: The blockchain adopts consensus-based specifications and protocols (such as a set of open and transparent algorithms), and then each node operates according to this specification, so that everything is completed by machines , there is no human element. This changes trust in people to trust in machines, and any human intervention has no effect.
The information cannot be tampered with: If the information is stored in the blockchain, it will be saved permanently and there is no way to change it. As for the 51% attack, it is basically impossible to achieve.
Anonymity: There is no personal information on the blockchain, because it is all encrypted and is a string of letters and numbers, so your various ID card information and phone number will not appear. Numbers are being resold.
IV What technology does the blockchain apply to achieve this function?
The blockchain applies the following technologies to achieve this
The first is the consensus mechanism. Commonly used consensus mechanisms are mainly There are PoW, PoS, DPoS, PBFT, PAXOS, etc. Since there is no center in the blockchain system, there needs to be a preset rule to guide the nodes of all parties to reach an agreement on data processing. All data interactions must be carried out in accordance with strict rules and consensus;
The second It is cryptography technology. Cryptography technology is one of the core technologies of blockchain. Many classic algorithms of modern cryptography are used in current blockchain applications, mainly including: hash algorithm, symmetric encryption, asymmetric encryption, digital Signature etc.
The third type is distributed storage. Blockchain is a distributed ledger on a peer-to-peer network. Each participating node will independently and completely store and write block data information. The advantages of distributed storage compared with traditional centralized storage are mainly reflected in two aspects: data information is backed up on each node to avoid data loss due to single point failure; data on each node is stored independently, effectively avoiding Malicious tampering with historical data.
Smart contracts: Smart contracts allow trusted transactions without a third party. As long as one party reaches the pre-set goals of the agreement, the contract will automatically execute the transaction. These transactions are trackable and irreversible. With transparency, trustworthiness, automatic execution,Advantages of Enforced Performance. Blockchain technology has many unique features that make it a unique invention and give it unlimited horizons to explore.
VI What are the characteristics of blockchain technology
The four major characteristics of blockchain technology include: decentralization; trustlessness; scalability; anonymity. Decentralization: Due to the use of distributed computing and storage, there is no centralized hardware or management organization in the blockchain system. Therefore, the rights and obligations of any node are equal, and the data blocks in the system are maintained by the entire system. nodes to jointly maintain. Openness: The system is open. In addition to the private information of the transaction parties being encrypted, the blockchain data 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. Autonomy: The blockchain adopts consensus-based specifications and protocols (such as a set of open and transparent algorithms) to enable all nodes in the entire system to exchange data freely and securely in a trustless environment, so that trust in "people" is exchanged. It has become a trust in the machine, and no human intervention will work. Information cannot be tampered with: 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 can be controlled at the same time, modifications to the database on a single node will be invalid, so the area The data stability and reliability of blockchain are extremely high. Anonymity: Since the exchanges between nodes follow a fixed algorithm, the data interaction does not require trust (the program rules in the blockchain will judge whether the activity is valid by itself), so the counterparty does not need to reveal its identity to the other party. Generating trust is very helpful for the accumulation of credit. Reliability: The data on the blockchain saves multiple copies, and the failure of any node will not affect the reliability of the data. The consensus mechanism makes modifying large numbers of blocks extremely costly and almost impossible. Destroying data is not in the self-interest of important participants. This practical design enhances the reliability of data on the blockchain and global circulation: blockchain assets are first based on the Internet. As long as there is the Internet, blockchain assets can be circulated. The Internet here can be the World Wide Web or various local area networks, so blockchain assets are circulated globally. As long as there is the Internet, blockchain assets can be transferred. Compared with centralized methods, the transfer fees for global circulation of blockchain assets are very low. For example, the early transfer fee for Bitcoin was 0.0001 BTC. Compared with traditional transfers, Generally speaking, blockchain assets arrive very quickly. It usually takes a few minutes to an hour to arrive.
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