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⑴ 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 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.
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 In the future, something called finance-internet will be formed on the Internet, 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 networks), biStarting from the public chain (wide area network), the tcoin series 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 ——The implementation of distributed applications in various industries
Blockchain is divided into three categories, which is introduced in detail in the book "Blockchain: Defining the New Pattern of Future Finance and Economics" [2] issued by Currency, < br />Hybrid blockchains and private blockchains can be considered as broad private chains:
Public Blockchains (PublicBlockChains)
Public blockchains refer to: any individual or group in the world Transactions can be sent and 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.
⑵ What exactly is blockchain, and what is its connection with Bitcoin
The Laikelib blockchain underlying architecture operation team believes that blockchain technology can Understood as a public accounting mechanism, it is more of a technical solution than a specific product. The basic idea is to establish a set of public ledgers on the Internet, and all users in the network will jointly record and verify accounts on the ledgers to ensure the authenticity and non-tamperability of information. The reason why the name is "blockchain" is because the structure of the blockchain's data storage is determined by the network.Each "storage block" forms a chain. Each block contains all the information exchange data in the network within a certain period of time. As time goes by, the chain continues to grow.
The relationship between blockchain and Bitcoin: Bitcoin was once one of the most successful applications of blockchain technology. Specifically, the blockchain is a series of data blocks generated using cryptography. Each data block contains information that is effectively confirmed for multiple Bitcoin network transactions. It can be said that Bitcoin is a "killer application" of blockchain thinking. Blockchain is the underlying technology of Bitcoin, but its role is by no means limited to Bitcoin.
⑶ What is blockchain
What is blockchain? What changes will it bring to your future life?
Blockchain is a new application model of computer technologies 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. At the same time, as the underlying technology of Bitcoin, it is a series of cryptographic methods related to each other. Each data block generated 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.
In fact, the original English version of the Bitcoin white paper does not appear in the word blockchain, but uses chain of blocks. In the earliest Chinese translation of the Bitcoin white paper, chain of blocks was translated into blockchain. This is the earliest time when the Chinese word "blockchain" appeared.
The Cyberspace Administration of China issued the "Blockchain Information Service Management Regulations" on January 10, 2019, which will come into effect on February 15, 2019.
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-transformable. Fake distributed ledger.
So in conclusion, this is undoubtedly a new technology that changes life. In the future, the production activities of the entire society will be carried out with blockchain as the underlying logic. Many things We all have it at our fingertips, and with the integration of artificial intelligence and big data, we can easily handle things that may seem cumbersome now, such as some securities market transactions and intelligent matching of financial management activities.
To put it simply, blockchain is a network computing center that integrates people, property, machines, and goods, and packages them into a whole; putting it on an infrastructure to run.
⑷ Does China have a real digital currency with blockchain technology?
Blockchain is a new application of computer technology such as distributed data storage, point-to-point transmission, consensus mechanism, and encryption algorithm. model. Blockchain was born from Satoshi Nakamoto’s Bitcoin and is an important concept of Bitcoin. It is essentiallyA decentralized database that serves as the underlying technology of Bitcoin.
The first book on blockchain research in China is called "Blockchain: Defining a New Pattern of Future Finance and Economics", published by the Currency Blockchain Research Center. Co-produced with blockchain is digital currency. As the price of Bitcoin continues to rise, various digital currencies with the name of blockchain have begun to emerge one after another. Among the current domestic blockchain projects, many have already conducted ICOs. However, most of them use ICO as an excuse to crowd-fund a large amount of money and speculate on the currency. There are very few that truly rely on blockchain technology for practical applications. Nowadays, there are real applications in China and the mainnet has been launched. Yinlian can be regarded as a pioneer in this regard. If you look at it this way, the real digital currency of blockchain technology should be the practical application of blockchain technology.
⑸ What is blockchain
What is blockchain? We need to understand the essence of blockchain:
First of all, we need to understand a concept. The so-called 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.
Blockchain was born from Satoshi Nakamoto’s Bitcoin. Since 2009, various Bitcoin-like digital currencies have appeared, all based on public blockchains.
Essentially, it is a decentralized database, which is the underlying technology and infrastructure of Bitcoin that is currently very popular. Of course, having said this, perhaps everyone still doesn’t quite understand what this is. Roughly speaking, blockchain is a machine that builds trust. It may change the way value is transmitted throughout human society.
Let’s start with a brief explanation. Recently, Tencent is vigorously promoting a software called TIM. This software is similar to QQ, but its biggest feature is that all participants can edit documents online, which is similar to a block. chain. It’s just that there is no single user in the blockchain that controls this document. Instead, all participants in the blockchain system can jointly maintain the update of the document, which can only be modified according to strict rules and consensus.
⑹ What exactly is the blockchain
From the perspective of its application, the blockchain concept is a distributed shared ledger and database with the characteristics of decentralization, The files cannot be tampered with, leave traces throughout the process, can be traced, are collectively maintained, and are open and transparent. Blockchain originated from Bitcoin, and the first blockchain was born on January 9, 2009.
Definition of blockchain
Blockchain can currently be divided into public blockchain, joint blockchain and private blockchain. Public blockchain means that any individual or group can send transactions, and the transactions can be effectively confirmed by the blockchain, and anyone can participate in its publicity process. while union and private areasBlockchain, as the name suggests, refers to a combination of multiple individuals or groups, an individual or a company that has exclusive writing rights to the blockchain. Basic difficulties
⑺ What is the origin of blockchain
Blockchain originated from Bitcoin. On November 1, 2008, a man who called himself Satoshi Nakamoto People published the article "Bitcoin: A Peer-to-Peer Electronic Cash System", which elaborated on the architectural concept of an electronic cash system based on P2P network technology, encryption technology, timestamp technology, blockchain technology, etc., which marked the development of Bitcoin. Birth.
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.
In recent years, the world's attitude towards Bitcoin has been ups and downs, but blockchain technology, one of the underlying technologies of Bitcoin, has received increasing attention. In the formation process of Bitcoin, blocks are storage units one by one, recording all communication information of each block node within a certain period of time.
The links between each block are realized through random hashing (also called hash algorithm). The latter block contains the hash value of the previous block. With the expansion of information exchange, a block Continuing with one block, the result is called a blockchain.
(7) What are the further readings of blockchain products:
Characteristics of blockchain:
1. Go Centralization. Blockchain technology does not rely on additional third-party management agencies or hardware facilities, and there is no central control. In addition to the self-contained blockchain itself, each node realizes self-verification, transmission and management of information through distributed accounting and storage. Decentralization is the most prominent and essential feature of blockchain.
2. Openness. The foundation of blockchain technology is open source. In addition to the private information of the transaction parties being encrypted, the data of the blockchain is open to everyone. Anyone can query the blockchain data and develop related applications through the public interface. Therefore, the entire System information is highly transparent.
3. Independence. Based on consensus specifications and protocols (similar to various mathematical algorithms such as the hash algorithm used by Bitcoin), the entire blockchain system does not rely on other third parties. All nodes can automatically and securely verify and exchange data within the system without the need for any human intervention.
4. Security. As long as you cannot control 51% of all data nodes, you cannot manipulate and modify network data at will. This makes the blockchain itself relatively safe and avoids subjective and artificial data changes.
5. Anonymity. Unless required by legal regulations, technically speaking, the identity information of each block node does not need to be disclosed or verified, and information transfer can be carried out anonymously.
⑻ What is blockchain and how to make money with blockchain
Blockchain is a computer technology such as distributed data storage, point-to-point transmission, consensus mechanism, and encryption algorithm.new application models of technology. The so-called consensus mechanism is a mathematical algorithm that establishes trust and obtains rights and interests between different nodes in the blockchain system.
How to make money in the blockchain:
1. Earn commissions through promotion.
The blockchain approach is to first register an exchange account, generate your own invitation link, and then promote it. If someone registers the exchange through your link and generates transactions, you will get a commission.
2. Coin speculation.
Speculating in currencies is like speculating in stocks. Coin speculation is the lowest threshold way to make money in the blockchain.
3. Mining.
"Mining" in Bitcoin is the accounting process. This process requires grabbing, and if you grab the opportunity to bookkeeping rights, you will be rewarded, and the reward is Bitcoin. This behavior is "mining".
4. Develop wallet.
The wallet is the infrastructure of the blockchain, just like the "Alipay" or "WeChat Pay" of the blockchain.
Extended information:
1. Blockchain is an important concept of Bitcoin. It is essentially a decentralized database and serves as the bottom layer of Bitcoin. technology. 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.
2. Blockchain was born from Satoshi Nakamoto’s Bitcoin. Since 2009, various Bitcoin-like digital currencies have appeared, all based on public blockchains.
3. On January 20, 2016, the Digital Currency Seminar of the People’s Bank of China 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.
Blockchain - Network
⑼ What is the blockchain and how was it born? What are the types of blockchains
Want to understand the blockchain To chain, you must first understand the basic structure of the program. Everything we see on the Internet is constructed through computer language. There are many kinds of computer languages, but the most basic characters that make up the language are codes, and blockchain technology is a way of applying codes, which is different from traditional centralization. The difference between the models is that the blockchain has the characteristics of immutability, privacy, security, and consensus.
There are many application scenarios for blockchain. The most successful case so far is Bitcoin, followed by electronic invoices, cross-border payments, etc. Based on the interoperability of data, it is impossible to It can also be used to save some important data such as tampering. As long as these data apply blockchain technology as the underlying technology, they will be stored forever.It cannot be destroyed, is saved forever, and no person or institution has the ability to modify or delete it. In addition, there are certain intersections between blockchain payment and education, medical care, credit reporting, automobiles, transportation and other fields. It is a technology, not a certain product, so there is only one type of it, but with the application As the scene changes, its role is also different. It can be integrated with existing scenes in almost any field and then derive other applications.