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1. Blockchain technology
Blockchain technology is called distributed ledger technology. It is an Internet database technology that is characterized by decentralization, openness and transparency. , allowing everyone to participate in database recording.
Blockchain technology will be applied to credit reporting, transaction security and information security in the financial industry. Financial data security, information privacy and network security are suitable for distributed block technology. Blockchain can form point-to-point digital value transfer in finance, thus improving the security of transmission and transactions.
Domestic blockchain technology companies started late, but there are many ICO projects and they are developing very rapidly. Currently, the well-known blockchain technology companies include Yingtang Zhongchuang, Feifang Sentian Integrity, and Luyi Tong et al.
In these well-known companies, token prices vary, but those that use blockchain technology for commercial applications, such as Yingtang Zhongchuang in Shenzhen, develop commercial application technology and use blockchain The chain commodity Internet of Things comprehensive service platform is the core, providing enterprises and consumers with more competitive production management, warehousing management, anti-counterfeiting traceability, precision marketing and other services.
With the increase of ICO projects, supervision will inevitably follow the trend. Therefore, whether it is well-known or unknown, only by truly applying technology and applying blockchain technology to commercial applications can we truly succeed. More long-term.
2. What is blockchain technology
Blockchain technology is a decentralized distributed database technology that can achieve data security, transparency, non-tampering, etc. characteristic. It is composed of many data blocks. Each data block contains the current timestamp and the hash value of the previous data block. Data storage and management are achieved by continuously adding data blocks.
The core idea of blockchain technology is decentralization. There is no central node control, but a decentralized network composed of many nodes to control the storage and circulation of data. In this kind of network, each node has the right to participate in the verification and storage of data. Any modification of data requires the consent of the majority of nodes in the network, which makes the blockchain technology non-tamperable and sensitive to inspection. Features such as centralization and transparency can ensure the security and credibility of data.
Blockchain technology can be applied to many fields, such as finance, Internet of Things, supply chain management, etc.
3. What are the core blockchain technologies of blockchain technology?
What is the hottest Internet topic at the moment? You don’t need to explain it to the editor to know that it is the blockchain technology. Blockchain technology, but many friends have only heard of this technology and do not have much in-depth understanding of it. So what are the blockchain technologies? Below we will bring you an introduction to the core technology of blockchain for your reference.
What are the core elements of blockchain technology?
Blockchain technology, which can be a public ledger (visible by anyone) or a permissioned network (visible only by those authorized), solves supply chain challenges.War because it is an immutable record that is shared among network participants and updated in real time.
Blockchain technology----data layer: designing the data structure of the ledger
Core technology 1. Block + chain:
Technically speaking, block is a data structure that records transactions. Reflects the flow of funds for a transaction. The blocks of transactions that have been reached in the system are connected together to form a main chain, and all nodes participating in the calculation record the main chain or part of the main chain.
Each block consists of a block header and a block body. The block body is only responsible for recording all transaction information in the previous period, mainly including the number of transactions and transaction details; the block header encapsulates the current version number, previous A block address, timestamp (recording the time when the block was generated, accurate to seconds), random number (recording the value of decrypting the answer to the math question related to the block), target hash value of the current block, and Merkle number Root value and other information. From a structural point of view, most functions of the blockchain are implemented by the block header.
Core technology 2. Hash function:
The hash function can convert data of any length into a set of fixed-length codes through the Hash algorithm. The principle is based on a cryptographic one-way hash function. This kind of function is easy to verify, but difficult to crack. Usually, the industry uses y=hash(x) to represent it. This hash function implements operations on x to calculate a hash value y.
Commonly used hash algorithms include MD5, SHA-1, SHA-256, SHA-384 and SHA-512, etc. Taking the SHA256 algorithm as an example, inputting any string of data into SHA256 will result in a 256-bit Hash value (hash value). Its characteristics: the same data input will get the same result. As long as the input data changes slightly (for example, a 1 becomes a 0), a completely different result will be obtained, and the result cannot be predicted in advance. Forward calculation (calculating the corresponding Hash value from the data) is very easy. Reverse calculation (cracking) is extremely difficult and is considered impossible under current technological conditions.
Core technology 3. Merkle tree:
Merkle tree is a hash binary tree, which can be used to quickly verify the integrity of large-scale data. In the blockchain network, the Merkle tree is used to summarize all transaction information in a block, and ultimately generates a unified hash value of all transaction information in the block. Any change in transaction information in the block will cause Merkle tree changes.
Core technology 4. Asymmetric encryption algorithm:
Asymmetric encryption algorithm is a key secret method that requires two keys: public key and private key. The public key and the private key are a pair. If the public key is used to encrypt the data, only the corresponding private key can be used to decrypt it, thereby obtaining the corresponding data value; if the private key is used to sign the data, then only the corresponding public key can be used to sign the data. In order to verify the signature, the sender of the verification information is the holder of the private key.
Because encryption and decryption use two different keys, this algorithmThe method is called an asymmetric encryption algorithm, while symmetric encryption uses the same key in the encryption and decryption process.
Blockchain technology----network layer: realize the decentralization of accounting nodes
Core technology 5. P2P network:
P2P network (peer-to-peer network), also known as point-to-point technology, is no Central server, Internet system that relies on user groups to exchange information. Unlike a centralized network system with a central server, each client in a peer-to-peer network acts as both a node and a server. Domestic Xunlei software uses P2P technology. The P2P network has the characteristics of decentralization and robustness.
Blockchain technology----Consensus layer: allocate the task load of accounting nodes
Core technology 6. Consensus mechanism:
Consensus mechanism is how to reach consensus among all accounting nodes to identify The validity of a record is both a means of identification and a means of preventing tampering. There are currently four main types of consensus mechanisms: PoW, PoS, DPoS and distributed consensus algorithms.
PoW (Proof of Work, proof of work): PoW mechanism, which is like Bitcoin’s mining mechanism, miners package existing transactions that have not been recorded by the network into a block, and then continue to traverse and try to find a random number , so that the hash value of the new block plus the random number meets certain difficulty conditions. Finding a random number that meets the conditions is equivalent to determining the latest block of the blockchain, and is also equivalent to obtaining the current round of accounting rights of the blockchain. Miners broadcast blocks that meet the mining difficulty conditions in the Yuanfu network. After verifying that the block meets the mining difficulty conditions and that the transaction data in the block meets the protocol specifications, other nodes in the entire network will each Blocks are linked to their own version of the blockchain, thereby forming a network-wide consensus on the current network state.
PoS (ProofofStake, Proof of Stake): PoS mechanism requires nodes to provide proof of a certain number of tokens to obtain a distributed consensus mechanism for competing for blockchain accounting rights. If you rely solely on the token balance to determine the bookkeeper, you will inevitably make the rich win, which will lead to the centralization of bookkeeping rights and reduce the fairness of the consensus. Therefore, different PoS mechanisms use different methods to increase the amount of money based on the proof of equity. The randomness of accounting rights avoids centralization. For example, in the PeerCoin PoS mechanism, the Bitcoin with the longest chain age has a greater chance of obtaining accounting rights. NXT and Blackcoin use a formula to predict the next accounting node. The more tokens you own, the greater the probability of being selected as an accounting node. In the future, Ethereum will also switch from the current PoW mechanism to a PoS mechanism. Judging from the information currently available, Ethereum's PoS mechanism will use nodes to place bets on the next block. The winner of the bet will receive an additional Ethereum currency award. Those who do not win will be deducted Ether coins to reach consensus on the next block.
DPoS (DelegatedProof-Of-Stake, share authorization certificate): DPoS is easy to understand and is similar to the modern corporate board of directors system. The DPoS mechanism adopted by BitShares is that shareholders vote to select a certain number of witnesses. Each witness has two seconds of authority to generate blocks in order. If the witness cannot generate a block within the given time slice, The block generation authority is given to the witness corresponding to the next time slice. Shareholders can replace these witnesses at any time by voting. This design of DPoS makes the generation of blocks faster and more energy-saving.
Distributed Consistency Algorithm: Distributed Consistency Algorithm is based on traditional distributed consistency technology. Among them are Byzantine fault-tolerant algorithms that solve the Byzantine Generals problem, such as PBFT (Byzantine fault-tolerant algorithm). In addition, distributed consensus algorithms (Pasox, Raft) that solve non-Byzantine problems are not explained in this article. This type of algorithm is currently a commonly used consensus mechanism in alliance chain and private chain scenarios.
Taken together, POW is suitable for public chains. If you build a private chain, it is more suitable to use POS because there is no trust problem in verification nodes; and because there are untrustworthy local nodes in the alliance chain, it is more suitable to use DPOS.
Blockchain technology----Incentive layer: Develop a "salary system" for accounting nodes
Core technology 7. Issuance mechanism and incentive mechanism:
Take Bitcoin as an example. Bitcoins are initially rewarded by the system to miners who create new blocks, and this reward is halved approximately every four years. At the beginning, miners were rewarded with 50 Bitcoins for each new block recorded, and this reward is halved approximately every four years. By analogy, by around AD 2140, newly created blocks will no longer receive rewards from the system. By then, the total number of Bitcoins will be approximately 21 million. This is the total number of Bitcoins, so it will not increase indefinitely.
Another source of incentives is transaction fees. When there are no system rewards for newly created blocks, the miners' income will change from system rewards to transaction fees. For example, when you transfer, you can specify 1% of it as a handling fee to be paid to the miner who records the block. If the output value of a transaction is less than the input value, the difference is the transaction fee, which will be added to the incentive for that block. As long as a given amount of electronic currency has entered circulation, the incentive mechanism can gradually be converted to rely entirely on transaction fees, so there is no need to issue new currency.
Blockchain technology----Contract layer: giving the ledger programmable features
Core technology 8. Smart contract:
Smart contract is a set of programmed rules and logic that respond to scenarios. Implemented by decentralized, trusted shared script code deployed on the blockchain. Normally, after the smart contract is signed by all parties, it is attached to the blockchain data in the form of program code, and is recorded in a specific block of the blockchain after being propagated through the P2P network and verified by nodes. Smart contracts encapsulate a number of predefined states and transition rules, scenarios that trigger contract execution, response actions under specific scenarios, etc. The blockchain can monitor the status of smart contracts in real time, and verify the status of smart contracts by checking external data sources and confirming that specific trigger conditions are met.Activate and execute the contract.
The above is what blockchain technologies the editor has brought to you? All content of the introduction to the core technology of blockchain.
4. What is blockchain technology? What are the core components of blockchain technology?
What is blockchain 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"."etc." characteristics, where "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 characteristics that computers can compare. "Everyone is equal" means that when the nodes meet the conditions, all Nodes have the right to propose consensus results first, and 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 it controls the entire network Only when there are more than 51% accounting nodes, 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. Taking insurance as an example, if everyone’s information (including medical information and risk occurrence information) are true and credible, it will be easy to carry out automated claims settlement in some standardized insurance products.
In the daily business of insurance companies, although transactions are not like those of banks and The securities industry is so frequent, but its 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, the main Risk management of policyholders and risk supervision of insurance companies.
Chongqing Jinwowo analysis: The consensus mechanism is the core of blockchain technology, and the consensus mechanism is to a large extent It determines the degree of mutual trust between the nodes of the entire blockchain system, and also determines the degree of trust of other users in the data on the blockchain
What is the core component of blockchain technology? Chongqing Gold Wowo analysis: 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, the point-to-point transaction of transaction activities is realized through the support of network technology. , decentralization, recorded information cannot be tampered with, transactions are irreversible, information encryption and other difficult problems have been broken through.
The development of blockchain technology continues with the application It is becoming more and more prosperous due to its expansion. This strong development momentum from the needs of various industries has caused rapid changes in blockchain technology, thus making the results achieved by various industries more and more attracting attention, from professional technology to resources. All aspects are constantly concentrating on this industry, which has brought the development of blockchain technology to a new stage, and the impact of the development of this blockchain technology has also attracted much attention.
Talking about blockchain Technology, we have to mention Bitcoin. 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 the block Blockchain technology.
How can the invisible and intangible Bitcoin use blockchain technology?Operation? 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 in which everyone participates in accounting. In the past, people used centralized servers to keep accounts, but in the blockchain technology system, everyone can participate in accounting and jointly identify Authenticity of 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 a wide range of applications in the era of big data.” Li Yan said frankly that at present, in addition toIn the field of Internet finance, blockchain technology 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 centralized database or file cabinet management in medical departments is no longer the optimal choice. 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.
5. What are the blockchain technologies?
The concept of blockchain can be said to be very popular. At the Internet Finance Summit, no one said that blockchain technology is out. What is blockchain technology?
Blockchain technology can be either a public classification (anyone can see it) or a permissioned network (only permissioned people can see it), solving supply chain challenges. Because it is An immutable record, so it is shared among network participants and updated in real time.
Blockchain technology - data layer: Designing the data structure of the account book
Core technology 1. Block_ _;Chain:
Technically, a block is a data structure that records transactions, reflecting the capital flow of the transaction. The transaction blocks that have been reached in the system are connected to form the main chain, and all nodes participating in the calculation are It records the main chain or a part of the main chain.
Each block is composed of a block header and a block body. The block body is only responsible for recording all transaction information in the previous period, mainly including transaction quantity and transaction details. The block header includes The current version number, the previous block address, the timestamp (recording the time when the block was generated, accurate to the second), the random number (recording the answer value to the mathematical question related to decrypting the block), the target hash value of the current block, and the Merkle number Information such as the root value of the source mill. From a structural point of view, most functions of the blockchain are implemented by the block header.
Core technology 2. Hash function:
.
The hash function can convert data of any length from the Hash algorithm to a fixed-length code. The principle is a one-way hash function based on cryptography. This function is easy to verify, but difficult to interpret. The industry usually uses y =hash(x) means that this hash function realizes the hash value y of computing x.
Commonly used hash algorithms include MD5, SHA-1, and SHA-256, SHA-384, SHA-512, etc. Taking the SHA256 algorithm as an example, input any data into SHA256 and you will get a 256-bit Hash value (hash value). Its characteristics: the same data input will get the same result. Enter A slight change in the data (for example, 1 becomes 0) will result in a completely different result. The forward calculation (the Hash value corresponding to the data calculation) is very simple. The reverse calculation is extremely difficult and is regarded as under the current scientific and technological conditions. Impossible.
Core technology 3. Merkle tree:
Merkle tree is a hash binary tree that can quickly verify the integrity of large-scale data. In the blockchain network, Merkle_emperor Iliju Mi Mi Fu Zheng Ou weapon is the firewood boy's bank _ Scandium Zhang incited the firewood boy's bank ⒌ Resistance to ride and bear the oar fishy Wei said the gray boy's bank ⒌ Seek out the Ji Congmo_erkle Trees.
Core Technology 4. Asymmetric Encryption Algorithm:
Asymmetric encryption algorithm is a key secret method that requires a key and a key. The public key and the private key are a pair. If the public key is used to encrypt data, It can only be decrypted with the corresponding private key to obtain the corresponding data value. If the private key is used to sign the data, the signature can only be verified with the corresponding public key. The sender of the verification information is the owner of the private key.
Since encryption and decryption use two different keys, the algorithm is called an asymmetric encryption algorithm, while symmetric encryption uses the same key in the encryption and decryption processes.
Blockchain Mitigation Technology- Network layer: realize the centralization of charging nodes
Core technology 5, P2P network:
P2P network (peer-to-peer network) is also called point-to-point technology. It has no central server or user group. Internet system for exchanging information. Different from a central network system with a central server, each client of the peer-to-peer network is a node and also has the function of a server. Domestic Xunlei software uses P2P technology. The P2P network has the characteristics of centralization and reinforcement.
Blockchain technology-consensus layer: allocating the task load of charging nodes
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