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① What does blockchain mean and how to understand it

Blockchain is a new application model of computer technology such as distributed data storage, point-to-point transmission, consensus mechanism, and encryption algorithm. .

Blockchain is an important concept of Bitcoin. It is essentially a decentralized database. As the underlying technology of Bitcoin, it is a series of related data generated using cryptography methods. Each data block contains a batch of Bitcoin network transaction information, which is used to verify the validity of the information (anti-counterfeiting) and generate the next block.

Notes

1. Blockchain Originated from Bitcoin, on November 1, 2008, a person claiming to be Satoshi Nakamoto published the article "Bitcoin: A Peer-to-Peer Electronic Cash System", which elaborated on P2P network technology, encryption technology, The architectural concepts of electronic cash systems such as timestamp technology and blockchain technology mark the birth of Bitcoin.

Two months later, the theory came into practice, and on January 3, 2009, the first genesis block with serial number 0 was born. A few days later, block number 1 appeared on January 9, 2009, and was connected to the genesis block number 0 to form a chain, marking the birth of the blockchain.

2. In order to realize the great leap forward development of blockchain finance, in order to promote the new development of China’s economy, accelerate the circulation of global assets, and realize the dream of rejuvenation that generations have been striving for, Puyin Group launched the On the 9th, a Puyin Blockchain Finance Guiyang Strategy Release Ceremony was held in Guizhou. At the meeting, the digital circulation of assets through blockchain, the blockchain financial transaction model, and the application of blockchain services and social public industries will be discussed. Explore.

② 108 essential knowledge points for getting started with blockchain

108 essential knowledge points for getting started with blockchain

(Welcome

1. What is a blockchain?

Package the information of multiple transactions and the information indicating the block together. After verification, the package It's the block.

Each block stores the hash value of the previous block, creating a relationship between blocks, that is to say, a chain. Together they are called blockchain.

2. What is Bitcoin

The concept of Bitcoin was proposed by Satoshi Nakamoto in 2009, with a total number of 21 million. The Bitcoin chain generates a block approximately every 10 minutes, and this block is mined by miners for 10 minutes. As a reward to miners, a certain number of Bitcoins will be issued to miners, but this certain number is halved every four years. Now it's 12.5.If this continues, all Bitcoins will be available in 2040.

3. What is Ethereum

The biggest difference between Ethereum and Bitcoin is the smart contract. This allows developers to develop and run various applications on it.

4. Distributed ledger

It is a database that is shared, replicated and synchronized among network members. To put it bluntly, all users on the blockchain have accounting functions and the content is consistent, which ensures that the data cannot be tampered with.

5. What is quasi-anonymity?

I believe everyone has a wallet, and the wallet address (a string of characters) used to send transactions is quasi-anonymity.

6. What is open transparency/traceability

The blockchain stores all data from history to the present, anyone can view it, and can also view any data in history.

7. What is tamper-proof

Historical data and current transaction data cannot be tampered with. The data is stored in the block on the chain and has a hash value. If the block information is modified, its hash value will also change, and the hash values ​​of all blocks following it must also be modified to form a new chain. At the same time, the main chain is still conducting transactions to generate blocks. The modified chain must always generate blocks synchronously with the main chain to ensure that the length of the chain is the same. The cost is too high, just to modify a piece of data.

8. What is anti-DDoS attack

DDoS: Hackers control many people’s computers or mobile phones and allow them to access a website at the same time. Since the bandwidth of the server is limited, a large amount of traffic The influx of data may cause the website to fail to function properly, resulting in losses. However, the blockchain is distributed and there is no central server. If one node fails, other nodes will not be affected. Theoretically, if more than 51% of the nodes are attacked, problems will occur.

9. Definition of main chain

Taking Bitcoin as an example, at a certain point in time, a block is mined by two miners at the same time, and then 6 blocks are generated first. The chain of blocks is the main chain

10. Single chain/multi-chain

Single chain refers to the data structure that handles everything on one chain. The core essence of the multi-chain structure is composed of public chain + N sub-chains. There is only one, but in theory there can be countless sub-chains, and each sub-chain can run one or more DAPP systems

11. Public chain/alliance chain/private chain

Public Chain: Everyone can participate in the blockchain

Alliance chain: Only alliance members are allowed to participate in accounting and query

Private chain: Writing and viewing permissions are only in the hands of one organization.

12. Consensus layer, data layer, etc.

There are six overall structures of the blockchain: data layer, network layer, consensus layer, incentive layer, contract layer, and application layer. Data layer: a layer that records data, belonging to the underlying technology; network layer: a structure for building a blockchain network, which determines how users are organized. Consensus layer: Provides a set of rules to allow everyone to reach agreement on the information received and stored. Incentive layer: Design incentive policies to encourage users to participate in the blockchain ecosystem; Contract layer: Generally referred to as "smart contracts", it is a set of contract systems that can be automatically executed and written according to their own needs. Application layer: Applications on the blockchain, similar to mobile apps. Former Distributed Storage R&D Center

13. Timestamp

The timestamp refers to the time from January 1, 1970 Day 0 hours 0 minutes 0 seconds 0... The total number of seconds from the current time to now, or the total number of nanoseconds and other very large numbers. Each block is generated with a timestamp indicating when the block was generated.

14. Block/block header/block body

Block is the basic unit of blockchain, and block header and block body are components of blockchain. The information contained in the block header includes the hash of the previous block, the hash of this block, timestamp, etc. The block body is the detailed data in the block.

15. Merkle tree

Merkle tree, also called binary tree, is a data structure for storing data. The bottom layer is the original data contained in all blocks, and the upper layer is each The hash value of a block, the hash of this layer is combined in pairs to generate a new hash value, forming a new layer, and then upwards layer by layer, until a hash value is generated. Such a structure can be used to quickly compare large amounts of data, and you can quickly find the bottom-level historical data you want without downloading all the data.

16. What is expansion?

The size of a Bitcoin block is about 1M and can save 4,000 transaction records. Expansion means making the block larger so that more data can be stored.

17. What is a chain?

Each block will save the hash of the previous block, creating a relationship between the blocks. This relationship is a chain. Data such as block transaction records and status changes are stored through this chain.

18. Block height

This is not the height mentioned in terms of distance. It refers to the total number of blocks between the block and the first block on the chain. This height indicates which block it is, and is just for identification purposes.

19. Fork

Two blocks were generated at the same time (the transaction information in the block is the same, but the hash value of the block is different), and then two chains were forked from these two blocks. Whoever generates 6 blocks first after each link will be the main chain, and the other chain will be discarded.

20. Ghost Protocol

Mining pools with high computing power can easily generate blocks faster than mining machines with low computing power, resulting in most of the blocks on the blockchain being generated by these mining pools with high computing power. However, the blocks generated by mining machines with low computing power are not stored on the chain because they are slow, and these blocks will be invalid.

The ghost protocol allows blocks that should be invalidated to remain on the chain for a short time, and can also be used as part of the proof of work

. In this way, miners with small computing power will contribute more to the main chain, and large mining pools will not be able to monopolize the confirmation of new blocks.

21. Orphan block

As mentioned before, orphan blocks are blocks generated at the same time. One of them forms a chain, and the other does not form a chain. Then this block that does not form a chain is called an orphan block.

22. Uncle block

The orphan block mentioned above, through the ghost protocol, makes it part of the proof of work, then it will not be discarded and will be saved in the main chain superior. This block is the next

23 replay attack

The hacker resends the message that has been sent to the server. Sometimes this can deceive the server into responding multiple times.

24. Directed acyclic graph

Also called data set DAG (directed acyclic graph), DAG is an ideal multi-chain data structure. Most of the blockchains mentioned now are single chains, that is, one block is connected to another block, and DAG is multiple blocks connected. The advantage is that several blocks can be generated at the same time, so the network can process a large number of transactions at the same time, and the throughput will definitely increase. However, there are many shortcomings and it is currently in the research stage.

25. What is mining

The mining process is to perform a series of conversions, connections and hash operations on the above six fields, and continue to try them one by one. The random number you are looking for, and finally successfully find a random number that meets the conditions: the value after hashing is smaller than the hash value of the preset difficulty value, then the mining is successful, and the node can broadcast the area to neighboring nodes. block, neighboring nodes receive the block and perform the same operation on the above six fields to verify compliance, and then forward it to other nodes. Other nodes also use the same algorithm to verify. If there are 51% of nodes in the entire network If all verifications are successful, even if this block is truly "mined" successfully, each node will add this block toAfter the previous block, delete the list in the block that is the same as its own record, and repeat the above process again. Another thing to mention is that regardless of whether the mining is successful or not, each node will pre-record the reward of 50 Bitcoins and the handling fees of all transactions (total input-total output) in the first item of the transaction list (this is " The most fundamental purpose of "mining" is also the fundamental reason to ensure the long-term stable operation of the blockchain), the output address is the address of this node, but if the mining is unsuccessful, the transaction will be invalidated without any reward. Moreover, this transaction called "production transaction" does not participate in the "mining" calculation.

26. Mining machines/mines

Mining machines are computers with various configurations, and computing power is the biggest difference between them. A place where mining machines are concentrated in one place is a mining farm

27. Mining pool

Miners unite to form a team, and the computer group under this team is a mining pool. Mining rewards are distributed based on your own computing power contribution.

28. Mining difficulty and computing power

Mining difficulty is to ensure that the interval between generating blocks is stable within a certain short time, such as Bitcoin is issued in 10 minutes

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Block 1. The computing power is the configuration of the mining machine.

29. Verification

When verification in the blockchain is a confirmation of the legality of the transaction, each node will verify the transaction once when the transaction message is propagated between nodes. Whether the transaction is legal. For example, verify whether the syntax of the transaction is correct, whether the transaction amount is greater than 0, whether the entered transaction amount is reasonable, etc. After passing the verification, it will be packaged and handed over to the miners for mining.

30. Transaction broadcast

The node sends information to other nodes through the network.

31. Mining fees

For the blockchain to work non-stop like a perpetual motion machine, miners need to maintain the system. Therefore, the miners must be given favorable fees to make it sustainable.

32. Transaction confirmation

When a transaction occurs, the block recording the transaction will be confirmed for the first time, and will be confirmed in every area on the chain after the block. Block is reconfirmed: When the number of confirmations reaches 6 or more, the transaction is generally considered safe and difficult to tamper with.

33. Double transaction

That is, I have 10 yuan, I use the 10 yuan to buy a pack of cigarettes, and then instantly use the 10 yuan that has not yet been paid. Bought another cup of coffee. So when verifying the transaction, you need to confirm whether the 10 yuan has been spent.

34. UTXO unspent transaction output

It is a data structure containing transaction data and execution code, which can be understood as a storageDigital currency that exists but has not yet been spent.

35. Transactions per second TPS

That is throughput, tps refers to the number of transactions the system can process per second.

36. Wallet

Similar to Alipay, it is used to store digital currencies, and blockchain technology is more secure.

37. Cold wallet/hot wallet

A cold wallet is an offline wallet. The principle is to store it locally and use QR code communication to prevent the private key from touching the Internet. A hot wallet is an online wallet. The principle is to encrypt the private key and store it on the server. When it is needed, it is downloaded from the server and decrypted on the browser side.

38. Software Wallet/Hardware Wallet

A software wallet is a computer program. Generally speaking, a software wallet is a program that interacts with the blockchain and allows users to receive, store, and send digital currencies and can store multiple keys. Hardware wallets are smart devices that specialize in handling digital currencies.

39. Airdrop

The project sends digital currency to each user’s wallet address.

40. Mapping

Mapping is related to the issuance of blockchain currency and is a mapping between chains. For example, there are some blockchain companies that have not completed the development of the chain in the early stage. They rely on Ethereum to issue their own currency. The issuance and transactions of the early currency are all operated on Ethereum. With the development of the company, the company's own chain development has been completed. The company wants to map all the previous information on Ethereum to its own chain. This process is mapping.

41. Position

Refers to the ratio of the investor’s actual investment to the actual investment funds

42. Full position

All funds are bought Enter Bitcoin

43. Reduce the position

Sell some of the Bitcoins, but not all of them

44. Heavy positions

Compared with Bitcoin, Bitcoin accounts for a larger share of funds

45. Short position

Compared with Bitcoin, the share of funds is larger

46. Short position

Sell all the Bitcoins you hold and convert them all into funds.

47. Stop loss

After obtaining a certain profit, sell the Bitcoin held to keep the profit

48. Stop loss

After the loss reaches a certain level, sell the Bitcoins you hold to prevent further losses

49. BullMarket

Prices continue to rise, and the outlook is optimistic

50. Bear market

Prices continue to fall, and the outlook is bleak

51. Bull (go long) )

The buyer believes that the currency price will rise in the future, buys the currency, and after the currency price rises, sells it at a high price to take profits

52. Short position (short selling)

The seller, believing that the currency price will fall in the future, sells the currency he holds (or borrows currency from the trading platform), and after the currency price drops, he buys it at a low price to take profits

53 .Open a position

Buy Bitcoin and other virtual currencies

54. Cover position

Buy Bitcoin and other virtual currencies in batches, for example: first buy 1 BTC, Then buy 1 BTC

55. Full position

Buy all the funds at one time into a certain virtual currency

56. Rebound

When the currency price falls, the price rebounds and adjusts due to the rapid decline

57. Consolidation (sideways)

The price fluctuation is small and the currency price is stable

58. Yin fall

The currency price fell slowly

59. Diving (waterfall)

The currency price fell rapidly and to a large extent

60. Cutting meat

After buying Bitcoin, the price of the currency fell. In order to avoid expanding the loss, the Bitcoin was sold at a loss. Or after borrowing the currency to go short, the currency price rises, and you buy Bitcoin at a loss

61. Hold on

Expect the currency price to rise, but unexpectedly the currency price falls after buying; or expect the currency price fell, but unexpectedly, after selling, the currency price rose

62. Unwinding

After buying Bitcoin, the currency price fell, causing a temporary book loss, but then the currency price rebounded and the loss was reversed To make a profit

63. Go short

After selling Bitcoin because of the bearish market outlook, the price of the currency continued to rise, and I was unable to buy it in time, so I failed to make a profit

64. Overbought

The currency price continues to rise to a certain height, the buyer's power is basically exhausted, and the currency price is about to fall

65. Oversold

The currency price continues to fall to a certain low, the seller's power has basically been exhausted, and the currency price is about to rise

66. Lure bulls

The currency price has been consolidating for a long time, and it is more likely to fall. Shorts have mostly sold Bitcoin, suddenlyThe short side raises the price of the currency, inducing the long side to think that the price of the currency will rise and buy one after another. As a result, the short side suppresses the price of the currency and traps the long side.

67. Lure shorts

After the bulls bought Bitcoin, they deliberately suppressed the price of the currency, making the short sellers think that the price of the currency would fall and sell them one after another. As a result, they fell into the trap of the bulls

68 .What is NFT

The full name of NFT is "Non-Fungible Tokens", which is non-fungible tokens. Simply put, it is an indivisible copyright certificate on the blockchain, which mainly serves to confirm the rights of digital assets. The difference between transfer and digital currency is that it is unique and indivisible. In essence, it is a unique digital asset.

69. What is the Metaverse

The Metaverse is a collection of virtual time and space, consisting of a series of augmented reality (AR), virtual reality (VR) and the Internet (Internet) Composed of digital currency, which carries the function of value transfer in this world.

70. What is DeFi

DeFi, the full name is Decentralized Finance, which is "decentralized finance" or "distributed finance". "Decentralized finance", as opposed to traditional centralized finance, refers to various financial applications established in open decentralized networks. The goal is to establish a multi-level financial system based on blockchain technology and cryptocurrency. As a basis, re-create and improve the existing financial system

71. Who is Satoshi Nakamoto?

72. Bitcoin is different from Q Coin

Bitcoin is a decentralized digital asset with no issuing entity. Q Coin is an electronic currency issued by Tencent. It is similar to electronic points, but it is not actually a currency. Q Coin requires a centralized issuing institution. Q Coin can only be recognized and used because of the credit endorsement of Tencent. The scope of use is also limited to Tencent's games and services. The value of Q coins is entirely based on people's trust in Tencent.

Bitcoin is not issued through a centralized institution, but it is widely recognized around the world because Bitcoin can self-certify its trust. The issuance and circulation of Bitcoin are jointly accounted for by miners across the entire network, and are not A central authority is also needed to ensure that no one can tamper with the ledger.

73. What is a mining machine?

Taking Bitcoin as an example, a Bitcoin mining machine is a professional equipment that competes for accounting rights by running a large amount of calculations to obtain new Bitcoin rewards. It is generally composed of a mining chip, a heat sink and a fan, and only performs A single calculation program consumes a lot of power. Mining is actually a competition between miners for computing power. Miners with more computing power have a greater probability of mining Bitcoin. along withThe computing power of the entire network is increasing, and it is becoming more and more difficult to mine bits with traditional equipment (CPU, GPU). People have developed chips specifically for mining. The chip is the core part of the mining machine. The operation of the chip will generate a large amount of heat. In order to dissipate heat, Bitcoin mining machines are generally equipped with heat sinks and fans. Users download Bitcoin mining software on their computers, use the software to assign tasks to each mining machine, and then start mining. Each currency has a different algorithm and requires different mining machines.

74. What is quantitative trading?

Quantitative trading, sometimes also called automated trading, refers to the use of advanced mathematical models to replace human subjective judgments, which greatly reduces the impact of investor sentiment fluctuations and avoids extreme fanaticism or pessimism in the market. make irrational investment decisions. There are many types of quantitative trading, including cross-platform trading, trend trading, hedging, etc. Cross-platform trading means that when the price difference between different target platforms reaches a certain amount, sell on the platform with a higher price and buy on the platform with a lower price.

75. Blockchain asset over-the-counter trading

Over-the-counter trading is also called OTC trading. Users need to find their own counterparties and do not need to match the transaction. The transaction price is determined by negotiation between the two parties. The two parties can fully communicate through face-to-face negotiation or telephone communication.

76. What is a timestamp?

The blockchain ensures that each block is connected sequentially through timestamps. Timestamps enable every piece of data on the blockchain to have a time stamp. Simply put, timestamps prove when something happened on the blockchain and cannot be tampered with by anyone.

77. What is a blockchain fork?

Upgrading software in a centralized system is very simple, just click "Upgrade" in the app store. However, in decentralized systems such as blockchain, "upgrading" is not that simple, and a disagreement may even cause a blockchain fork. Simply put, a fork refers to a disagreement when the blockchain is "upgraded", resulting in a fork in the blockchain. Because there is no centralized organization, every code upgrade of digital assets such as Bitcoin needs to be unanimously recognized by the Bitcoin community. If the Bitcoin community cannot reach an agreement, the blockchain is likely to form a fork.

78. Soft fork and hard fork

Hard fork means that when the Bitcoin code changes, the old nodes refuse to accept the blocks created by the new nodes. Blocks that do not comply with the original rules will be ignored, and miners will follow the original rules and create new blocks after the last block they verified. A soft fork means that old nodes are not aware of the changes to the Bitcoin code and continue to accept blocks created by new nodes. Miners may work on blocks they have no understanding of, or validation of. Both soft forks and hard forks are "backwards compatible" to ensure that new nodes can verify the blockchain from scratch. Backward compatibility means that new software accepts data or code generated by old software. For example, Windows 10 can run Windows XP applications. Soft forks can also be "forward compatible".

79. Classification and application of blockchain projects

Judging from the current mainstream blockchain projects, blockchain projects mainly fall into four categories: Category 1: Currency; The second category: platform category; the third category: application category; the fourth category: asset tokenization.

80. USDT against the US dollar

USDT is Tether USD, a token launched by Tether that is against the US dollar (USD). 1USDT=1 US dollar, users can use USDT and USD for 1:1 exchange at any time. Tether implements a 1:1 reserve guarantee system, that is, each USDT token will have a reserve guarantee of 1 US dollar, which supports the stability of the USDT price. The unit price of a certain digital asset is USDT, which is equivalent to its unit price in US dollars (USD).

81. Altcoins and alternative coins

Altcoins refer to blockchain assets that use the Bitcoin code as a template and make some modifications to its underlying technology blockchain, among which Those with technological innovations or improvements are also called alternative coins. Because the Bitcoin code is open source, the cost of plagiarism in Bitcoin is very low. You can even generate a brand new blockchain by simply copying the Bitcoin code and modifying some parameters.

82. Three major exchanges

Binance

Okex

Huobi

83. Market software

Mytoken

Non-small account

84. Information website

Babbitt

Golden Finance

Coin World News

85. Blockchain Browser

BTC

ETH

BCH

< p> LTC

ETC

86. Wallet

Imtoken

Bitpie

MetaMask (Little Fox)

87. Decentralized exchange

uniswap

88. NFT exchange

< p> Opensea

Super Rare

89. Ladders

Bring your own, buy reliable ladders

90. Platform coins

Issued by the platform Digital currency, used to deduct handling fees, transactions, etc.

91. Bull market, bear market

Bull market: rising market

Bear market: falling market

92. Blockchain 1.0

A currency trading system based on distributed ledgers, represented by Bitcoin

93. Blockchain 2.0

Ether The contract blockchain technology represented by Fang (smart contract) is 2.0

94. Blockchain 3.0

In the era of intelligent Internet of Things, it goes beyond the financial field and provides services for various industries. Centralized solution

95. Smart Contract

Smart Contract is a computer protocol designed to disseminate, verify or execute contracts in an information-based manner. Simply put, Set up an electronic contract in advance, and once both parties confirm it, the contract will be automatically executed.

96. What is a token?

The token economy is an economic system with Token as the only reference standard, which is equivalent to a pass. If you own Token, you have rights and interests, and you have the right to speak.

97. The difference between big data and blockchain

Big data is the means of production, AI is the new productivity, and blockchain It is a new production relationship. Big data refers to a collection of data that cannot be captured, managed and processed within a certain time range using conventional software tools. It is a massive, high-growth and high-volume data set that requires new processing models to have stronger decision-making power, insight discovery and process optimization capabilities. Diverse information assets. Simply understood, big data is massive data accumulated over a long period of time and cannot be obtained in the short term. Blockchain can be used as a way to obtain big data, but it cannot replace big data. Big data is only used as a medium running in the blockchain and has no absolute technical performance, so the two cannot be confused. (A simple understanding of production relations is labor exchange and consumption relations. The core lies in productivity, and the core of productivity lies in production tools)

98. What is ICO?

ICO, Initial Coin Offering, is the initial public offering of tokens, which is crowdfunding in the blockchain digital currency industry. It is the most popular topic and investment trend in 2017, and the country launched a regulatory plan on September 4. Speaking of ICO, people will think of IPO, the two are essentially different.

99. Five characteristics of digital currency

The first characteristic: decentralization

The second characteristic: having open source code

The third feature: independent electronic wallet

The fourth feature: constant issuance

The fifth feature: global circulation

100. What is decentralization?

It has no issuer, does not belong to any institution or country, and is a publicly issued currency designed, developed and stored on the Internet by Internet network experts.

101. What is measurement (scarcity)?

Once the total amount of issuance is set, it is permanently fixed, cannot be changed, cannot be over-issued at will, and is subject to global Internet supervision. Because the difficulty of mining and mining changes over time, the longer the time, the greater the difficulty of mining, and the fewer coins are mined, so it is scarce.

102. What is open source code?

The alphanumeric code is stored on the Internet. Anyone can find out the source code of its design, everyone can participate, can mine it, and it is open to the world.

103. What is anonymous transaction? Private wallet private?

Everyone can register and download the wallet online without real-name authentication. It is completely composed of encrypted digital codes. It can be sent and traded globally in real-time point-to-point without resorting to banks or any institutions. It cannot be traced by anyone without my authorization. ,Inquire.

104. What is a contract transaction?

Contract trading refers to an agreement between buyers and sellers to receive a certain amount of an asset at a specified price at a certain time in the future. The objects of contract trading are standardized contracts formulated by the exchange. The exchange stipulates standardized information such as commodity type, transaction time, quantity, etc. A contract represents the rights and obligations of the buyer and seller.

105. Digital Currency Industry Chain

Chip manufacturers, mining machine manufacturers, and mining machine agents mine and export to exchanges for retail investors to speculate in coins< /p>

106. Who is Bei Feng?

Beifeng: Digital currency value investor

Investment style: Steady

Establish a community: Beidou Community (high-quality price investment community)

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107. Beidou TouInvestment strategy

Combining long-term and short-term, focusing on price investment, no touching contracts, no short-term play

Reasonable layout, scientific operation, prudent and conservative, making periodic money

108. Beifeng?

Welcome currency friends and seek common development

③ Is Taixi Blockchain real?

Taixi Blockchain is not real.

These virtual currencies are not recognized in China. The most popular one is Bitcoin. Looking at Bitcoin as a whole, the market is also erratic and has no support as a whole. The currencies in the world are now based on gold. It is basic, everything else is imaginary, and there is no way to find a way to land it.

The Taixi public chain started programming the underlying technology in March 2017 by the Taixi Russian Laboratory. On May 6, 2018, the Taixi mainnet was officially launched, and the member computing power platform was launched in September 2018. The blockchain browser was launched in March. Therefore investing requires caution and attention.

(3) Tailue Blockchain Extended Reading:

Bitcoin and some other chain coins are products of the blockchain. There is no chain currency in the blockchain. When the Bitcoin market was booming, some large Internet companies began to manufacture Bitcoin mining machines and implemented pre-order and snap-up policies. Many people who saw business opportunities were waiting for the sales of mining machines. It turns out that many "scalpers" grab mining machines from the official website and then sell them at high prices through other channels. One profit channel is to buy and sell mining machines, buying them at a low price and selling them at a high price.

④ What kind of technology is "blockchain"?

What kind of technology is "blockchain"

Blockchain is an important concept of Bitcoin. The "2014-2016 Global Bitcoin Development Research Report" released by the Internet Finance Laboratory of Tsinghua University PBC School of Finance and Sina Technology mentioned that blockchain is the underlying technology and infrastructure of Bitcoin. It is essentially a decentralized database and serves as the underlying technology of Bitcoin. 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 the information (anti-counterfeiting) and generate the next block. .
In a narrow sense, blockchain is a chain data structure that combines data blocks in a sequential manner in chronological order, and is cryptographically guaranteed to be non-tamperable and non-forgeable. Account book. Broadly speaking, blockchain technology uses block chain data structures to verify and store data, uses distributed node consensus algorithms to generate and update data, uses cryptography to ensure the security of data transmission and access, and utilizes automated Smart contracts are composed of scripts that program and compute data in a new decentralized infrastructure and normalize computing.
Domestic blockchain application platforms include an asset custody system based on blockchain technology jointly developed by the digital currency crowdfunding platform Biying China, China Post and IBM.

What exactly is blockchain technology and why is it so hyped

Blockchain is a decentralized, distributed ledger system participated by nodes. The data stored on it cannot be forged or tampered with, and is open to the public. Transparent, the information and value recorded by each account at any point in history can be found on the blockchain. The characteristics of the blockchain protocol provide the necessary foundation for the execution of smart contracts. The contract can be automatically executed and trusted according to established conditions without the need for auditing by any centralized organization.
Blockchain technology is the underlying core of the Bitcoin system. Its essence is a decentralized ledger. When people conduct transactions through the Internet, a new transaction will be recorded on the ledger, and this ledger is A decentralized ledger is jointly maintained by everyone on the network. People can see ongoing transactions at the same time, and control is not in the hands of institutions or individuals. Transactions cannot be tampered with or forged, and they will be permanently stored in the ledger.
For example, the Tongxin Huzhu blockchain mutual aid platform has four major characteristics in applying blockchain technology:
Openness and transparency
Openness and transparency, once all information recorded on the blockchain is recorded, it will be very It is difficult to tamper with and cannot be hidden, and users can check it at any time.
Democratic decision-making
Bottom-up decision-making, the blockchain proposes a variety of different consensus mechanisms to help users effectively form bottom-up decisions and jointly participate in major decisions.
Accurate execution of rules
Accurate execution of rules. The smart contract technology defined on the blockchain converts all rules into public and clear codes, which can be executed accurately and accurately. Once anyone is identified Cannot intervene.
Never downtime
Never downtime, the blockchain based on the public chain is not affected by any organization or individual. As long as the incentive mechanism is effective and the Internet exists, the blockchain will exist.

What is blockchain technology and why is it so hyped?

What is blockchain? Blockchain is a decentralized shared accounting technology that allows all parties involved to establish a trusting relationship at the technical level. Blockchain can be roughly divided into two levels: one is the underlying technology of the blockchain; the other is the upper-layer application of the blockchain, that is, the transformation, optimization or innovative application based on the blockchain. Blockchain is still in its infancy. Many people have discussed with me how we can ensure both rights and privacy at the same time. Of course, we are just exploring now. We need fair content across the entire network and clear protection. This is what I can only say. So far, this is my arrangement for the future.
Blockchain concept? The idea of ​​​​blockchain is to be completely decentralized and rely on decentralized justice. In that case, theoretically the cost will drop a lot, proving that real assets and property rights can directly correspond to each other on the Internet. Solved the first generationThe Internet Information Institute has not solved the problem of decentralization and asset ownership. How big a role does big data play in financial innovation now? Only by registering big data can we know who it belongs to. In fact, this has always been a problem that we cannot solve now. This is not a small problem. If there is a technology in the capital market that makes the property rights of things that were originally unclear clear, that will be a big problem for us. The entire market is undergoing a huge transformation.
What is blockchain? Blockchain technology itself can solve data ownership, pricing and sharing mechanisms. This still cannot completely solve certain problems. To give a simple example when it comes to user privacy, I have a piece of data placed on the machine. The partner comes over and makes an insurance analysis to analyze the cooperation. There is a risk here. Or not, can we deal with it or clarify the property rights of the laboratory, and then clarify the processing rights and data rights. The common products produced by everyone are common to everyone. If we need to divide different things, how to price them and how to divide them? In addition to the technology of blockchain and a decentralized database, when it comes to the above mentioned tasks, it is another issue, and then there is the issue of pricing and the market mechanism. All fields have proven to recognize this rule, so this I think blockchain is a very good core technology, but it cannot cover all problems.
Introduction to Bubi Blockchain
Bubi Blockchain is mainly positioned to provide commercial-grade blockchain infrastructure services, which mainly includes building a blockchain system and building on top of the blockchain system. A support system with high expandability. On top of this support system are applications from all walks of life. Bubi focuses more on the underlying technology of the blockchain. In the past three years or so, a team of more than a dozen people has devoted almost all their energy to the research and development of the underlying technology. The reason why Bubi Blockchain chooses points has something to do with the market's promotion method. As we all know, blockchain is a technology that is very suitable for the issuance and trading of digital assets. Points are a digital asset that is naturally legal and compliant, and has a small impact because of its small amount. Therefore, it is a very suitable choice to use points as your first attempt at digital asset issuance. Issuing points based on the blockchain can indeed bring great help to the circulation and mutual exchange of points.
What is blockchain? The application of blockchain technology in the field of property transfer is only one aspect. In addition to reducing property transfer costs, blockchain technology can also be applied to various fields involving company stocks, financial derivatives, and points programs of commercial institutions. The blockchain community is currently focusing on promoting the wider application of this technology in the field of financial assets. Relatedly, various platforms that are still under development have also received very considerable investment.
Blockchain concept? Structurally or by definition, these things are very different. The U.S. dollar, or any currency, from a typical definition, is primarily used as a medium of exchange or store of value for economic activities. Within the geographical scope where a certain currency circulates, people in the area reach a consensus on the use of this currency, which is convenient for everyone.Everybody uses the same currency to buy goods or services (money’s function as a medium of exchange). There is a responsibility to manage the currency through monetary policy in order to ensure the preservation of the value of the currency and avoid the occurrence of inflation (the store of value function of currency). In today's world, almost everyone uses some form of currency in their daily lives.
What is blockchain? Even developers within the blockchain community often easily overlook the big picture mentioned above. There are many competitive projects in the blockchain community, and they are also full of various disputes about the evolution direction of blockchain technology. Over time, some projects in the community will be successful, and others will not be so lucky. Things will not always develop in the direction we expect, but no matter how these projects in the early blockchain community develop, one thing is very clear, that is, blockchain technology has brought us at least A revolutionary function: Blockchain technology will greatly reduce the cost of financial property transfer, and blockchain will be used to control, manage and transmit financial property.
What is blockchain? Blockchain concept? After a certain application analysis, we return to the starting point. The definition of this blockchain technology will surely become more and more abundant with the expansion of applications, and people will discover more mysteries of blockchain technology.

What is the Bitcoin blockchain technology that Microsoft is interested in?

Blockchain is an important concept of Bitcoin. It is essentially a decentralized database and serves as the basis for Bitcoin. underlying technology. 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 the information (anti-counterfeiting) and generate the next block. .
The blockchain is public on the Internet and can be queried in every offline Bitcoin wallet information. The functionality of a Bitcoin wallet relies on confirmation with the blockchain, and a valid check is called a confirmation. Usually a transaction requires several confirmations before it can proceed. The lightweight Bitcoin wallet uses online confirmation, which means it does not download the blockchain data to the device storage.
Many of Bitcoin’s altcoins also use the same design, but are slightly different in proof of work and algorithm. For example, using proof of stake and SCrypt, etc.
Blockchain timestamp service and proof of existence
This concept was proposed in Satoshi Nakamoto’s white paper [1], who created the first block, the “genesis block”.
On January 3, 2009, Satoshi Nakamoto, the founder of Bitcoin, left an unchangeable sentence in the genesis block:
“The Times 03/Jan/2009 Chancellor on brink of second lout for banks (on January 3, 2009, the chancellor was on the verge of implementing a second round of bank bailouts)."
This was the time when the UKThis was the headline of a front-page article in The Times that day as Chancellor of the Exchequer Darling was forced to consider a second attempt to bail out the banking crisis.
With the blockchain’s timestamp service and proof of existence, the time when the first blockchain was created and the events that were happening at that time are permanently retained.
The Bitcoin company BTCC launched a service "Millennium Chain" in 2015, which is a blockchain engraving service, which uses the above principles. Users can engrave text on the blockchain through this service and store it permanently.
Bitcoin, Litecoin, Ruitai Coin, and Qianjin Card are all digital currencies based on blockchain technology.

What kind of technology is blockchain?

Chongqing Jinwowo analyzed: Blockchain is actually a decentralized distributed ledger database.

How popular is blockchain technology?

Blockchain technology makes DAC possible. DAC is something that can fundamentally subvert the organizational model of human society. I believe that its impact on society will surpass the Industrial Revolution and become the most profound change that the Internet has brought to the world.

The essence of blockchain technology is a method of data storage, transmission and certification that is decentralized and contained in a distributed structure. It replaces the current Internet with data blocks (Block). The road's reliance on the central server enables all data changes or transaction projects to be recorded on a cloud system, theoretically achieving self-certification of data during data transmission.

Blockchain technology can be applied to many industries:
Art industry
Ascribe allows artists to use blockchain technology to declare ownership, Issue numberable, 100% editions of your work in digital form for any type of artwork. It even includes a marketplace where artists can buy and sell through their website without the need for any intermediary services.
Legal Industry
BitProof is the most advanced of the many document timestamp applications that have emerged in recent years, and will make traditional notarization methods a thing of the past. Compared with free versions including Blocksgin and OriginStaemp, BitProof provides more services, including one for intellectual property rights. Interestingly, BitProof recently collaborated with a San Francisco IT school to put all their students’ academic certificates on the blockchain, completely redefining how diplomas and student certificates are processed and used.
Development Industry
Colu is the first company to allow other companies to issue digital assets. They can "tokenize" various assets and have a profound impact on many people. Although the free Bitcoin wallet Counerparty also allows simple tokens to be issued and traded among other wallet holders, Colu's tokens can be configured in various states and types, can leave or return to the system, and can store data on the BitTorrent network when it becomes too large to store data on the blockchain.
Internet Mutual Aid Industry
Tongxin Mutual Aid is the first blockchain online mutual aid platform to be implemented and applied. Technically, through blockchain and big data technology, it eliminates the shortcomings of the traditional online mutual aid model. Establish an open and transparent new online mutual aid platform.

What exactly is Aite Cat? A game, a small program or blockchain technology?

Aite Cat is a virtual pet game produced under blockchain technology. This virtual cat is similar to Internet Letts Dog, 360 pet cat, and NetEase’s Planet are all the same type of blockchain virtual products. The difference between Aite Cat is that the entire cat design uses a 3D three-dimensional effect, making the cat’s The display is no longer a single picture, allowing the cat to move, which increases the fun of the cat.

What technology is the Huangbao blockchain system?

The Huangbao blockchain is a powerful decentralized loop intelligence system. The Huangchain chain is referred to as HUANG. It is the first to be used in financial services, advertising media, games and entertainment, various life applications and other fields, becoming a blockchain 3.0 The representative virtual currency of the era, Media Chain 3.0 technology has the core characteristics of being safer, more efficient, more flexible, and more open. The widespread application of its technology will surely trigger new forms and new ideas in the global media industry, which can Create convenient services and new concepts, which marks a new economic era before the public.

⑤ What is the concept of blockchain

Concept: Blockchain is a new application model of computer technology such as distributed data storage, point-to-point transmission, consensus mechanism, and encryption algorithm.

The essence of the blockchain is a distributed public ledger. Anyone can verify this ledger, but no single user can control it. Participants in a blockchain system jointly maintain a ledger: it can only be modified according to strict rules and consensus.

The development of blockchain has gone through three stages:

1. Incubation period: 2009-2012, the economic form was dominated by Bitcoin and its industrial ecology.

2. Embryonic period: The period is from 2012 to 2015. Blockchain entered the public eye with Bitcoin, new wallet payment and remittance companies appeared, and the blockchain economy spread to the financial field. The underlying technology of blockchain continues to innovate. Blockchain technology is divorced from the Bitcoin system.

3. Development period: In 2016, industry applications began to be explored, and a large number of blockchain startups emerged. The popularity of ICO in 2017 brought unprecedented attention to blockchain.

(5) Extended reading of Tailue Blockchain:

Three characteristics of the three blockchains:

1. The core idea of ​​blockchain is decentralization: in the blockchain system,The rights and obligations between any nodes are equal, and all nodes have the ability to vote with computing power, thus ensuring that the recognized result is the result recognized by more than half of the nodes. Even if it suffers a severe hacker attack, as long as the number of nodes controlled by the hacker does not exceed half of the total number of global nodes, the system will still be able to operate normally and the data will not be tampered with.

2. The biggest disruption of blockchain lies in the establishment of credit: in theory, blockchain technology can make WeChat Pay and Alipay no longer valuable. The Economist made a vivid metaphor for blockchain: simply put, it is “a machine that creates trust.” Blockchain allows people to collaborate without trusting each other and without a neutral central authority. Combating counterfeit currency and financial fraud will no longer be needed in the future.

3. The collective maintenance of blockchain can reduce costs: In a centralized network system, the maintenance and operation of the system rely on the operation, maintenance and operation of platforms such as data centers, and costs cannot be omitted. Anyone can participate in the nodes of the blockchain. While participating in the recording, each node also verifies the correctness of the recording results of other nodes, which improves maintenance efficiency and reduces costs.

In one sentence, blockchain touches money, trust and power, which are the fundamental foundations on which human beings rely for survival.

⑥ After reading this article, you will have a thorough understanding of the blockchain

In this article, all the content I introduced is based on the blockchain in today’s world. The fact that the blockchain field has already happened is not some imagination or opinions about the blockchain. I think that as long as you read this article carefully, you will easily have a basic and accurate understanding of blockchain.

The main content of understanding blockchain in just ten minutes is divided into four sections. 21 topics and 4 sections are:

The first national blockchain strategy.

Second, Bitcoin and its literal representation involve four topics.

Third, blockchain and its technical logic involve 13 topics.

Fourth, blockchain empowers the economy and society, involving three topics.

Let’s first look at the first part of the blockchain national strategy, the first part of the blockchain country. Everyone knows that we humans have experienced six information revolutions. Seven or eight years ago, the first information revolution created primitive language, social tacit understanding, and the second information revolution saw the emergence of writing. The third information revolution in feudal society invented papermaking and printing, and the fourth information revolution in the late 19th century invented radio.

In the fifth information revolution of the 20th century, television appeared again, and now in the sixth information revolution, computers and the Internet have appeared. The emergence of computers and the Internet has given rise to the rapid development of various new technologies.. Especially in 2020, the digital economy has experienced epoch-making development.

Why do you say that? The characteristics of high bandwidth, low latency and large connections in the 5G era have enabled the implementation of the four major technologies of ABCD.

What are the four major ABCD technologies

The a here refers to Artificial Intelligence, which is artificial intelligence technology.

B refers to Blockchain, blockchain technology.

C refers to cloud computing cloud computing technology

D refers to big data technology.

The word blockchain is now completely popular all over the country. On October 25, 2019, the Political Bureau of the Central Committee of the Communist Party of China announced the development of blockchain technology. The current situation has been collectively studied, so the requirement of this meeting is to use blockchain technology as the core technology.

As an important breakthrough for independent innovation, it is necessary to accelerate the innovative development of blockchain technology and industry. On April 20, 2020, the National Development and Reform Commission officially included blockchain into new infrastructure. Blockchain, why do you think it is so awesome? Let us say that blockchain is not an extension of the Internet, it is a subversion of the Internet. In the future, many, many technologies will grow on this blockchain and realize blockchainization.

So, how can we accurately learn and understand the blockchain?

We found that among the four major technologies of ABCD, only the block is naturally built-in It's financial. Therefore, we must learn and understand blockchain from the IT perspective and the financial perspective, and even learn and understand blockchain from the level of national governance. If you only study and understand blockchain from an IT perspective, it is impossible to understand the huge influence and influence of this technology. Then, your understanding of this will be biased. Even more, you may disapprove of blockchain technology. In addition, in the process of learning about blockchain, you should also pay attention to the fact that it has many new terms, so you need to concentrate on understanding it step by step.

Let’s first understand blockchain from a financial perspective.

Bitcoin and its birth performance

To understand the blockchain, it involves Bitcoin, and what about the birth of Bitcoin? , and it is inseparable from the evolution of currency. We know that currency is a special commodity that is separated from commodities and serves as a fixed general equivalent.. In fact, we humans have used a lot of currencies, including physical currency, weighing currency, paper money, accounting currency, etc. As for accounting currency, it includes electronic currency and digital currency. Electronic currency itself is not a currency. It is just used to represent the same amount of currency. It is a token.

Then the total amount of his tokens will not increase due to the increase of electronic currency. Alipay, WeChat, payment, and online banking are typical electronic currencies. As for digital currency, it is itself a legal currency. The total amount of this fiat currency will increase with the increase of digital currency. We know that when it comes to physical currency, we humans have actually chosen many things as general equivalents.

Weighing currencies are some heavy metals. Later, people chose gold among the heavy metals. Why choose gold? Because gold has the characteristics of rarity, divisibility, and the most stable chemical properties. What needs to be noted here is gold. It is not issued by any country. It is provided by nature. of. Your country's total amount is as much as nature provides. Therefore, the country does not need to provide credit guarantees for the value of gold.

However, as for gold, it has some flaws in its use, and it is difficult to carry when you go out again, so there are descendants. Paper money appeared in the Northern Song Dynasty. At that time, paper money was not currency in the current sense. The currency at that time was still gold, but we used paper money to represent gold. We called it the gold standard. The gold standard is the gold standard, which is a monetary system with gold as the standard currency. The core essence of the gold standard is that how much currency a country issues should be decided based on how much gold your country has. It does not mean you can issue as much currency as you want.

At that time, the Great Depression of the United States reached January 10, 1934. On this day, the newly elected President of the United States made a very important decision to abandon the gold standard and issue 3 billion US dollars. Think about it, abandoning the gold standard, in theory, means that he can issue as much currency as he wants. Even if there is no gold in the treasury, he can issue banknotes as long as he wants to. Then someone will ask, if you issue so many words, can you still exchange them for gold of equal value?

Look at the banknotes at this time, they have been separated from gold, and national credit has emerged. , this, we call it currency guaranteed by national credit. Now, when mainstream countries issue currency, they also issue it with national credit as a guarantee.

What are the benefits? The advantage is that it can regulate the economy. When the economy is not doing well, a little more hair can drive economic development. through this variableThe increase or decrease will cause a chain reaction of the entire economic aggregate. This is the multiplier effect in economics. Once a country masters this thing, some countries will be fascinated by it. But if it is not well controlled, it will lead to national credit bankruptcy. As a result, many people began to reflect. This reflection is, when issuing currency, is it better to use national credit as a guarantee, or is it better to stick to the gold standard based on the total amount of gold. This question involves the birth of Bitcoin

⑦ What is blockchain technology? What exactly is blockchain?

In a narrow sense, blockchain is a It is a chained data structure that combines data blocks in a sequential manner in chronological order, and is cryptographically guaranteed to be a distributed ledger that cannot be tampered with or forged.

Broadly speaking, blockchain technology uses block chain data structures to verify and store data, uses distributed node consensus algorithms to generate and update data, and uses cryptography to ensure data transmission and access. It is a new distributed infrastructure and computing method that uses smart contracts composed of automated script codes to program and operate data securely.

[Infrastructure]

Generally speaking, the blockchain system consists of data layer, network layer, consensus layer, incentive layer, contract layer and application layer composition. Among them, the data layer encapsulates the underlying data blocks and related basic data and basic algorithms such as data encryption and timestamps; the network layer includes distributed networking mechanisms, data dissemination mechanisms, and data verification mechanisms; the consensus layer mainly encapsulates network nodes Various consensus algorithms; the incentive layer integrates economic factors into the blockchain technology system, mainly including the issuance mechanism and distribution mechanism of economic incentives; the contract layer mainly encapsulates various scripts, algorithms and smart contracts, and is the core of the blockchain The basis of programmable features; the application layer encapsulates various application scenarios and cases of the blockchain. In this model, the chain block structure based on timestamps, the consensus mechanism of distributed nodes, economic incentives based on consensus computing power, and flexible programmable smart contracts are the most representative innovations of blockchain technology.

Extended information:

[Blockchain core technology]

Blockchain mainly solves the trust and security issues of transactions, so it addresses this issue Four technological innovations:

1. Distributed ledger means that transaction accounting is completed by multiple nodes distributed in different places, and each node records a complete account, so they all Can participate in supervising the legality of transactions and can also jointly testify for them.

The uniqueness of blockchain's 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 stores The data is divided into multiple parts for storage according to certain rules. Second, the storage of each node in the blockchain is independent and has equal status. It relies on the consensus mechanism to ensure the consistency of storage, while traditional distributedStorage generally synchronizes data to other backup nodes through the central node.

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.

2. Asymmetric encryption and authorization technology. Transaction information stored on the blockchain is public, but account identity information is highly encrypted and can only be accessed with authorization from the data owner. , thus ensuring data security and personal privacy.

3. The consensus mechanism 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 the computing power and the number of shares. Or other characteristic quantities that the computer can compare. "Everyone is equal" means that when a node meets the conditions, all nodes have the right to give priority to the consensus result, which will be directly recognized by other nodes and may eventually become the final consensus result.

4. 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.

Blockchain-Network

⑧ What are the characteristics of blockchain

Blockchain characteristics: 1. Security: not protected by anyone or physical attack; 2. No information can be tampered with; 3. Traceable, all nodes in the network can access; 4. Decentralized, no third party. Regarding blockchain news, you can learn about it at Crypto Finance.

⑨ What is blockchain

⑩ What exactly is blockchain

What is blockchain?
Blockchain is a new application model of computer technologies such as distributed data storage, point-to-point transmission, consensus mechanism, and encryption algorithm. The so-called consensus mechanism is a mathematical algorithm that establishes trust and obtains rights and interests between different nodes in the blockchain system [1].
Blockchain is aAn 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.
Blockchain was born from Satoshi Nakamoto’s Bitcoin. Since 2009, various Bitcoin-like digital currencies have appeared, all based on public blockchains.
The current situation of digital currency is that a hundred flowers are blooming. Here are some common ones: bitcoin, litecoin, dogecoin, dashcoin. In addition to currency applications, there are also various derivative applications, such as Ethereum, Asch and other underlying application development platforms, as well as NXT , SIA, BitShares, MaidSafe, Ripple and other industry applications.
On January 20, 2016, the People’s Bank of China Digital Currency Seminar announced that it had achieved phased results in digital currency research. The meeting affirmed the value of digital currency in reducing the issuance of traditional currency and stated that the central bank is exploring the issuance of digital currency. The expression of the People’s Bank of China’s Digital Currency Seminar has greatly enhanced the confidence of the digital currency industry. This is the first time that the five central bank ministries and commissions have expressed a clear attitude towards digital currencies since they issued a notice on preventing Bitcoin risks on December 5, 2013. [4]
On December 20, 2016, the Digital Currency Alliance - China FinTech Digital Currency Alliance and FinTech Research Institute were officially established, with Huobi being one of the co-initiators. [5]
Some areas where blockchain can be used are:
▪ Smart contracts
▪ Securities trading
▪ E-commerce
▪ Internet of Things
▪ Social communication
▪ File storage
▪ Proof of existence
▪ Identity verification
▪ Equity crowdfunding
We can compare the development of blockchain to the development of the Internet itself , something called finance-internet will be formed on the Internet in the future, and this thing is based on blockchain, and its precursor is bitcoin, that is, traditional finance starts from private chains and industry chains (local area network), and the bitcoin series starts from public chains (Wide Area Network), they all express the same concept - digital assets (Digital Asset), and finally converge to an intermediate balance point.
The evolution of blockchain is:
▪ Blockchain 1.0 - digital currency
▪ Blockchain 2.0 - digital assets and smart contracts
▪ Blockchain 3.0 - Implementation of distributed applications in various industries
Blockchain is divided into three categories. In the book "Blockchain: Defining the New Pattern of Future Finance and Economics" [2] published by Currency There is a detailed introduction,
Hybrid blockchain and private blockchain can be considered as broad private chains:
Public Blockchain (PublicBlockChains)
Public blockchain refers to: the world Any individual or group on the blockchain can send a transaction, and the transaction can be effectively confirmed by the blockchain, and anyone can participate in its consensus process. The public blockchain is the earliest blockchain and the most widely used blockchain. The virtual digital currencies of all major bitcoins series are based on the public blockchain. There is only one blockchain corresponding to this currency in the world. .
Consortium (Industry) Blockchain (ConsortiumBlockChains)
Industry Blockchain: Multiple preselected nodes are designated within a certain group as bookkeepers, and the generation of each block is jointly performed by all preselected nodes. Decision (pre-selected nodes to participate in the consensus process), other access nodes can participate in transactions, but do not participate in the accounting process (essentially still managed accounting, just become distributed accounting, how many pre-selected nodes, how to determine the number of each block The bookkeeper becomes the main risk point of the blockchain), and anyone else can conduct limited queries through the open API of the blockchain.
Private Blockchain (privateBlockChains)
Private Blockchain: Only uses the general ledger technology of the blockchain for accounting. It can be a company or an individual, and has exclusive access to the writing of the blockchain. With access permissions, this chain is not much different from other distributed storage solutions. (Dec2015) Conservative giants (traditional finance) all want to experiment with private blockchains, while public chain applications such as Bitcoin have been industrialized, and private chain application products are still being explored.