区块链云存储速度快吗知乎,区块链云存储速度快吗

近年来，随着区块链技术的发展，区块链云存储技术也逐渐受到重视。那么，区块链云存储速度快吗？

首先，要明确的是，目前区块链云存储技术的发展仍处于初级阶段，其速度的提升仍有待突破。但是，我们也可以看到，目前的区块链云存储技术已经取得了很大的进步。

首先，区块链云存储技术可以提高数据存储的安全性。通过分布式节点的分散式存储，可以有效的防止数据泄露，保护用户的隐私安全。

其次，区块链云存储技术也可以提高数据存储的速度。通过把数据分散到多个节点上，可以有效的提高数据传输的速度，让用户能够快速的获取所需要的数据。

最后，区块链云存储技术还可以提高数据存储的可靠性。通过对数据进行多次备份，可以有效的防止数据丢失，保证数据的完整性。

总的来说，区块链云存储技术的速度已经取得了很大的提升，可以有效的提高数据存储的安全性、速度和可靠性。

1. Can blockchain technology be used to develop network disks?

The idea is good, but are you sure you understand what blockchain is?
Let’s not talk about other things, just talk about the storage mechanism. As a network disk, it must involve large-scale data storage, and the conventional size of each block in the blockchain is only a few MB. Of course, the storage of the block The size can be changed, but have you ever thought about it. If the block is too large, the more data is transmitted on the chain, the number of blocks increases, and the whole node stores the data of the entire block. Where can you find such a large storage space? , if calculated in EB, even if the blockchain is distributed storage, which node is willing to help you store it?

You can say that you can use small blocks and enough nodes. But if it is split too small, most nodes in the chain will be unreliable (unstable or untrustworthy). After splitting a large file into N small blocks and storing them in multiple nodes, when downloading In order to ensure the integrity of the data, a trusted data source station that can provide correct data verification needs to provide a list. To put it bluntly, a central server is still needed. Is that any different from the current network disk? Even if it is achieved, how low will the transmission efficiency be due to unequal upload speeds?
When one day home storage can evolve from TB to PB, reading and writing increase by more than 10 times, and network speed increases from the national average of 10M to 10G, I guess your idea is feasible.

2. The speed of block production in the blockchain has slowed down

The speed of block production in the blockchain has slowed down because every node in the network must participate in processing. The current processing speed on the blockchain network is very slow. If there are a thousand nodes in the network, then a thousand nodes must participate in processing every transaction in the network.

It’s like there is a circle of a thousand people. For the sake of consistency in the ledger, one person in this circle needs to be notified when recording. To put it bluntly, you need a receipt. Let me tell you that I just recorded an account in the ledger, and you have to remember it the same as me. Therefore, message notification alone will take a lot of time.

Blockchain Characteristics

Decentralization. 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.

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.

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 any human intervention. intervention.

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.

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.

3. Cloud computing and blockchain

Video loading...

Before understanding the specific relationship between cloud computing and blockchain, we need to Find out what blockchain is?

We might as well first use an example to gradually understand the blockchain. It is said that in a village lacking trust, the old village chief invented a new accounting method in order to prevent villagers from denying each other when borrowing money from each other: if Zhang San borrowed 100 yuan from Li Si, the village loudspeaker would Announce the news to the whole village. The villagers each have an account book in their hands. At this time, they will separately write down "Zhang San borrowed 100 yuan from Li Si at such and such a time." It would be useless if Zhang San wanted to deny it when the time came to repay the loan, because this record was written in the account books of other people in the village. This is the prototype of blockchain.

With the above cases, it is not difficult to understand the meaning of blockchain when we describe it. Blockchain refers to a technical solution that collectively maintains a reliable database through decentralization and trustlessness. Take accounting as an example. There is no central ledger in the blockchain. Everyone has the opportunity to participate in accounting. Everyone is the center, and everyone in the system has a ledger. With the above foreshadowing, let’s get down to business.

With the widespread application of cloud services, the impact of cloud service provider equipment failures is increasing. Almost all centralized cloud service providers have experienced failures or even data loss. So, is it possible to cure this problem? A simple idea is "don't put all your eggs in one basket". A more professional one is "distributed cloud computing + blockchain".

Before the birth of blockchain technology, many cloud computing manufacturers used distributed cloud computing to solve the shortcomings of centralized cloud computing. Distributed cloud computing studies how to divide a problem that requires very large computing power into many small parts, and then allocate these small parts to many computers for processing, and finally combine these computer results to obtain the final result.

"Cloud computing + blockchain" is called BaaS, which means Blockchain Technology as a service, which translates to Blockchain as a Service. At present, many Internet giants have announced the launch of BaaS business. IBM announced the launch of a blockchain service platform in February 2016, where developers can access fully integrated development and operation tools for creating, deploying, running and monitoring blockchain applications on the IBM cloud.. As a pioneer in the successful implementation of "distributed cloud computing and blockchain" in China, Xunlei has now achieved the combination of distributed cloud computing and blockchain technology.

4. Is Spacetime Cloud IPFS reliable?

Is IPFS reliable?
IPFS is a technology that changes people’s lifestyles. It can effectively solve the current data storage dilemma, significantly reduce data storage and transmission costs, and improve data security. IPFS is just a concept and is innocent in itself. Whether it is IPFS technology or IPFS incentive layer FIL, there is nothing right or wrong in itself. It can even be said that it was originally invented to serve mankind.
Let’s see where its roots are and what are its roots? There are nothing more than two, one is technologically advanced and the other is safe and reliable. Let’s talk about IPFS technology first. IPFS assigns a unique hash value to each file (file fingerprint: created based on the content of the file). Even if the contents of two files differ by only one text, their hash values It's also different. Therefore, IPFS is based on file content addressing, rather than domain name addressing like the traditional HTTP protocol.
IPFS removes duplicate files from the entire network content and establishes version management for files. This means that each file has a historical record and you can easily return to the historical version of the file for query. When querying a file, search based on the hash value of the file (unique in the entire network). Let’s talk about the advantages of IPFS:
1. Fast download speed. IPFS is a distributed storage protocol system. When downloading relevant data, it will be downloaded from multiple nodes at the same time. Compared with HTTP, it is faster to download from the central server. a lot of.
2. Storage space is cheap. IPFS is a blockchain technology that uses filecoin to encourage resource storage contributors to share their hard drives and remove redundant storage from the entire network, greatly saving network storage space and making IPFS very popular. Cheap.
3. Security, centralized servers are currently difficult to resist DDOS attacks, and IPFS has the ability to resist such attacks, because all access will be dispersed to different nodes, and even the attacker himself is one of the nodes. To some extent, IPFS can even withstand quantum computing attacks.
4. Openness. We all know that Bitcoin is a decentralized and anonymous digital currency. These characteristics make Bitcoin unable to be controlled and transactions cannot be tampered with because IPFS is built on a decentralized distributed network. , so IPFS is difficult to be centrally managed and restricted, and the Internet will be more open.
When we look at a project, we not only have to look at whether its technology is advanced, but also what value its technology can bring in reality and what advantages it has compared to its predecessors. It is not difficult to see that IPFS is not only technologically advanced but also brings application value. IPFS is one of the few reliable projects in the currency circle.
How to participate in ipfs mining?
The way to participate in IPFS mining is to cooperate with high-quality miners. After purchasing a storage server, host your storage equipment in their IDC computer room, sign a purchase contract and a hosting contract, and the rest is to purchase pledge coins and GAS fees by yourself. Deposit into the APP account for packaging, and then check the income.

5. Blockchain will change the world in ten years. LinkToken will take you to see it

The blockchain era is coming | What new applications will there be in the new year?

If recent research is to be believed, we are likely to see real-world applications of blockchain technology within the next two years.

Recently, HackerRank, a well-known technology recruitment company, released the "2019 Developer Skills Report". Among the 71,281 developers who participated, more than 23% said that the actual application of this technology in the next 24 months will still be Very possible.

About 27.54% of people think this is more realistic, 21.89% are not sure, 19.77% think the technology has been exaggerated, and only 7.01% think it is unrealistic.

Internet of Things

However, don’t be too busy to be happy. To pour cold water on it, the report predicts that compared to blockchain, the Internet of Things (IoT) will be the future The most popular technology of the year.

Developers believe that unlike blockchain, which is still in its infancy, IoT adoption is driven by increasing connectivity between homes, cars and cities.

How to achieve it

Blockchain technology is increasingly being tried and tested by mainstream institutions in many industries, but the technology does not seem to be available yet Stand firm.

Banks appear to be particularly interested in blockchain because private decentralized ledgers may bring greater efficiency and lower costs, especially in stock trading and clearing.

This technology also has great potential in related fields such as health care, where it can be used to combat the trafficking of counterfeit drugs.

Traditional energy companies are also actively exploring. In fact, Spanish multinational electrical company Iberdrola recently completed a blockchain trial aimed at tracking renewable energy more efficiently.

If these experiments and tests don’t translate into real-world applications, we may see an increase in the number of developers who think blockchain is overhyped if we take another look at it this time next year. .

6. What is the development trend of blockchain and the future development trend of blockchain

The development prospects of the blockchain industry are broad driven by both policy and market
Both policy and market Driven by various layers, China's blockchain-related industries are expected to move from reality to reality
In the context of the rapid development of blockchain, China has complied with the needs of globalization, kept pace with international pace, and actively promoted research in domestic blockchain-related fields. Standardization formulation and industrialization development. Compared with the background of increasingly strict regulation of digital currencies such as Bitcoin, support and encouragement for blockchain technology have reached a global consensus, and domestic blockchain technology will also receive national and local policy support in the next few years. Driven by the dual layers of policy and market, blockchain-related industries are expected to move from reality to reality, and blockchain technology will accelerate the exploration of possible application scenarios.
Forecast of global blockchain market size
According to the "In-depth Analysis Report on Business Model Innovation and Investment Opportunities in the Blockchain Industry" released by the Qianzhan Industry Research Institute, the global blockchain market size is expected to increase from 2017 to 2017. It will increase from US$411.5 million in 2022 to US$7.6837 billion in 2022, equivalent to a compound annual growth rate of 79.6%. Given the wide range of applications for distributed ledgers and the rising market value of cryptocurrencies, there is a strong need to improve transparency, security, efficiency and streamline processes, as well as blockchain as a service (
BaaS). As a hot topic of development, the blockchain market will expand rapidly. In addition, communication services, international trade, supply chain management, program platforms, payments, smart contracts, digital identity verification, etc. also urgently need blockchain technology and will create a large number of growth opportunities.
Blockchain, as an integrated application of distributed data storage, point-to-point transmission, consensus mechanism, encryption algorithm and other technologies, has become a hot topic of research and discussion by international organizations such as the United Nations and the International Monetary Fund as well as governments of many countries in recent years. The industry has also increased investment. At present, the application of blockchain has extended to many fields such as the Internet of Things, intelligent manufacturing, supply chain management, and digital asset transactions, and will bring new opportunities to the development of new generation information technologies such as cloud computing, big data, and mobile Internet. , has the ability to trigger a new round of technological innovation and industrial change.
By 2022, the payment sector may occupy the largest share of the blockchain market
Relying on blockchain technology, instant payment of assets can be realized, which not only has the characteristics of non-tampering and digital identity verification, but also can provide Financial institutions and banks significantly save settlement costs. In addition, blockchain makes it possible to automate payments, eliminating the need for middlemen, saving labor costs and time for buyers and sellers. Thanks to the many advantages mentioned above, it is expected that the payment sector will be the most important segment in the entire blockchain market.
The fastest growing region will be the Asia-Pacific
Blockchain service providers in the Asia-Pacific region are good at designing and developing user-friendly, cost-saving and fast cryptocurrency platforms, extending the blockchain to multiple Industry application tentacles. Both large enterprises and small and medium-sized enterprises are actively seeking venture financing and investing in the research and development of cutting-edge blockchain technology. In addition, the real estate industry in some countries in the Asia-Pacific region is expected to rapidly transform from semi-transparent to fully transparent, which will also help enhance the development prospects of blockchain in the Asia-Pacific region.

7. Tutorials for getting started with blockchain

However, there are very few simple and easy-to-understand introductory articles. What exactly blockchain is and what makes it special is rarely explained.
Next, I will try to write an article that is best understoodBlockchain Tutorial. After all, it is not difficult. The core concept is very simple and can be explained clearly in a few sentences. I hope that after reading this article, you will not only understand the blockchain, but also understand what mining is, why mining is getting more and more difficult, and other issues.
It should be noted that I am not an expert in this area. Although I have been paying attention to it for a long time, my detailed understanding of blockchain started at the beginning of this year. You are welcome to correct any errors or inaccuracies in the article.
1. The essence of blockchain
What is blockchain? In a word, it is a special distributed database.
First of all, the main function of blockchain is to store information. Any information that needs to be saved can be written to the blockchain and read from it, so it is a database.
Secondly, anyone can set up a server, join the blockchain network, and become a node. In the world of blockchain, there is no central node. Every node is equal and stores the entire database. You can write/read data to any node, because all nodes will eventually be synchronized to ensure that the blockchain is consistent.
2. The biggest features of blockchain
Distributed databases are not a new invention, and there have been such products on the market for a long time. However, blockchain has a revolutionary feature.
Blockchain has no administrator, it is completely centerless. Other databases have administrators, but blockchain does not. If one wanted to add auditing to the blockchain, it would not be possible because it is designed to prevent the emergence of a central authority.
It is precisely because it is unmanageable that blockchain can be uncontrollable. Otherwise, once big companies and large groups control the management, they will control the entire platform, and other users will have to take orders from them.
However, without the administrator, everyone can write data into it. How can we ensure that the data is trustworthy? What should I do if it is modified by bad people? Please read on, this is the wonderful thing about blockchain place.
3. Block
Blockchain is composed of blocks. Blocks are much like database records. Every time data is written, a block is created.
Each block contains two parts.
Head: records the characteristic values ​​of the current block
Body: actual data
The block header contains multiple characteristic values ​​of the current block.
Generation time
Hash of the actual data (i.e. block body)
Hash of the previous block
...
Here, you need to understand what a hash is , which is necessary to understand blockchain.
The so-called hashing means that the computer can calculate a characteristic value of the same length for any content. The hash length of the blockchain is 256 bits, which means that no matter what the original content is, a 256-bit binary number will be calculated in the end. And it can be guaranteed that as long as the original content is different, the corresponding hash must be different.
For example, the hash of the string 123 is (hexadecimal), and converted to binary it is256 bits, and only 123 can get this hash. (Theoretically, it is possible for other strings to get this hash, but the probability is extremely low and can be approximated as impossible.)
Therefore, there are two important inferences.
Corollary 1: The hash of each block is different, and the block can be identified by the hash.
Corollary 2: If the content of the block changes, its hash will definitely change.
4. The non-modifiable nature of Hash
Blocks and hashes have a one-to-one correspondence, and the hash of each block is calculated based on the block header (Head). That is to say, the characteristic values ​​​​of the block header are connected together in order to form a very long string, and then the hash is calculated on this string.
Hash = SHA256 (block header)
The above is the calculation formula of block hash. SHA256 is the hash algorithm of the blockchain. Note that this formula only contains the block header and not the block body. In other words, the hash is uniquely determined by the block header.
As mentioned before, the block header contains a lot of content, including the hash of the current block body. , and the hash of the previous block. This means that if the content of the current block body changes, or the hash of the previous block changes, it will definitely cause the hash of the current block to change.
This point has great significance for blockchain. If someone modifies a block, the hash of the block changes. In order for subsequent blocks to still be connected to it (because the next block contains the hash of the previous block), the person must modify all subsequent blocks in sequence, otherwise the modified block will be removed from the blockchain . Due to the reasons mentioned later, hash calculation is very time-consuming, and it is almost impossible to modify multiple blocks in a short period of time, unless someone controls more than 51% of the computing power of the entire network.
It is through this linkage mechanism that the blockchain ensures its own reliability. Once the data is written, it cannot be tampered with. This is just like history, what happened happened, and it can’t be changed from now on.
Each block is connected to the previous block, which is where the name blockchain comes from.
5. Mining
Since synchronization between nodes must be ensured, the adding speed of new blocks cannot be too fast. Just imagine, you have just synchronized a block and are preparing to generate the next block based on it, but at this time, another node generates a new block, and you have to give up half of the calculations and synchronize again. Because each block can only be followed by one block, you can only generate the next block after the latest block. So, you have no choice but to sync as soon as you hear the signal.
So, the inventor of the blockchain, Satoshi Nakamoto (this is a pseudonym, and his true identity is still unknown) deliberately made it difficult to add new blocks. His design is that on average, the entire network can generate a new block every 10 minutes, which is only six per hour.
This output speed is not achieved through commands, but by deliberately setting up massive calculations. In other words, only through extremely large amounts of calculations can we getThe valid hash of the current block, thereby adding the new block to the blockchain. Because the amount of calculation is too large, it cannot be done quickly.
This process is called mining, because the difficulty of calculating a valid hash is like finding a grain of sand that meets the conditions among the sand in the world. The machine that calculates hashes is called a mining machine, and the person who operates the mining machine is called a miner.
6. Difficulty coefficient
After reading this, you may have a question. People say that mining is difficult, but isn’t mining just about using a computer to calculate a hash? This is the strength of computers. How could it be? It becomes very difficult, why can’t it be calculated?
It turns out that not just any hash can be used, only hashes that meet the conditions will be accepted by the blockchain. This condition is particularly harsh, causing most hashes to fail to meet the requirements and must be recalculated.
It turns out that the block header contains a difficulty coefficient (difficulty), which determines the difficulty of calculating the hash. For example, the difficulty coefficient of the 100,000th block is 14484.16236122.
The blockchain protocol stipulates that the target value (target) can be obtained by dividing the difficulty coefficient by a constant. Obviously, the greater the difficulty coefficient, the smaller the target value.
The validity of the hash is closely related to the target value. Only hashes smaller than the target value are valid, otherwise the hash is invalid and must be recalculated. Since the target value is very small, the chance that the hash is smaller than this value is extremely slim, and it may be calculated 1 billion times before it is considered a hit. This is the fundamental reason why mining is so slow.
As mentioned earlier, the hash of the current block is uniquely determined by the block header. If the hash of the same block needs to be calculated repeatedly, it means that the block header must keep changing, otherwise it is impossible to calculate different hashes. All feature values ​​in the block header are fixed. In order to make the block header change, Satoshi Nakamoto deliberately added a random item called Nonce.
Nonce is a random value. The role of the miner is actually to guess the value of Nonce so that the hash of the block header can be smaller than the target value so that it can be written to the blockchain. Nonce is very difficult to guess. At present, we can only use trial and error one by one through exhaustive methods. According to the protocol, Nonce is a 32-bit binary value, which can reach a maximum of 2.147 billion. The Nonce value of the 100,000th block is 274148111. It can be understood that the miner started from 0 and calculated 274 million times before obtaining a valid Nonce value so that the calculated hash can meet the conditions.
If you are lucky, you may find Nonce in a while. If you are unlucky, you may have calculated it 2.147 billion times without finding the Nonce, that is, it is impossible to calculate a hash that meets the conditions for the current block body. At this time, the protocol allows miners to change the block body and start a new calculation.
7. Dynamic adjustment of difficulty coefficient
As mentioned in the previous section, mining is random and there is no guarantee that a block will be produced in exactly ten minutes.Sometimes the results come out in a minute, and sometimes there may be no results in a few hours. Overall, with the improvement of hardware equipment and the increase in the number of mining machines, the computing speed will definitely become faster and faster.
In order to keep the output rate constant at ten minutes, Satoshi Nakamoto also designed a dynamic adjustment mechanism for the difficulty coefficient. He stipulated that the difficulty factor should be adjusted every two weeks (2016 blocks). If the average block generation speed in these two weeks is 9 minutes, it means that it is 10% faster than the legal speed, so the next difficulty factor will be increased by 10%; if the average block generation speed is 11 minutes, it means It is 10% slower than the legal speed, so the difficulty factor of the next step must be lowered by 10%.
The difficulty coefficient is adjusted higher and higher (the target value is getting smaller and smaller), which makes mining more and more difficult.
8. Forks of the blockchain
Even if the blockchain is reliable, there is still an unresolved problem: if two people write data to the blockchain at the same time, that is to say, two people write data to the blockchain at the same time. Blocks join because they are connected to the previous block, forming a fork. Which block should be adopted at this time?
The current rule is that new nodes always adopt the longest blockchain. If there is a fork in the blockchain, it will look at which branch is behind the fork to reach 6 new blocks first (called six confirmations). Based on a block calculation of 10 minutes, it can be confirmed in one hour.
Since the generation speed of new blocks is determined by computing power, this rule means that the branch with the most computing power is the authentic blockchain.
9. Summary
Blockchain, as an unmanaged distributed database, has been running for 8 years since 2009 without major problems. This proves it works.
However, in order to ensure the reliability of data, blockchain also has its own price. The first is efficiency. You have to wait at least ten minutes to write data to the blockchain. All nodes synchronize the data, which requires more time. The second is energy consumption. The generation of blocks requires miners to perform countless meaningless calculations. This is Very energy consuming.
Therefore, the applicable scenarios of blockchain are actually very limited.
There is no management authority that all members trust
The written data does not require real-time use
The benefits of mining can make up for its own costs
If the above conditions cannot be met, then the traditional database is Better solution.
Currently, the largest application scenario (and possibly the only application scenario) of blockchain is the cryptocurrency represented by Bitcoin.

8. Where is the data in the blockchain stored?

The data in the blockchain all exists in the terminal or in the server. Because we are talking about blockchain, its user terminal can also be a server, and the server can also be a user terminal, so it is all stored on these devices.

9. Blockchain Financial Application

Blockchain financial application is a key area where it plays a role in reality. The financial industry needs such high-end technology. Traditional operationsThe way we work will undergo profound changes because of such technology. Blockchain financial applications have many distinctive features, and people are talking about them. It has attracted more and more attention because of its actual effects, and has had an increasing impact.

Abstract: Developed countries and technology companies have taken the lead in the research and application of blockchain technology. Judging from the application of patent technology, there may be a gap of about one and a half years between my country and the United States in blockchain technology. Based on the above situation, how can China achieve "asymmetric" catch-up? The first thing is to see the situation clearly, seize opportunities and meet challenges. Secondly, after understanding the necessity of the underlying construction of blockchain for the existing business and future development of the financial industry, a consensus was reached among various financial companies to establish a "China's Financial Blockchain Alliance". The last step is to advance collaboratively and embrace change.

How to understand blockchain?

Bitcoin: A peer-to-peer electronic cash system. In 2009, after the paper was published, Bitcoin was born as a virtual currency in the digital world of the Internet. At present, the total market value of Bitcoin is about US$6.5 billion. Although the market value is constantly changing, it is still the largest virtual currency in the world.

Another important concept is blockchain. Blockchain is an underlying technology of Bitcoin, and Bitcoin is just an application of blockchain. As we all know, Bitcoin can realize point-to-point value transfer. In addition to the Bitcoin blockchain, there are many other blockchains, such as the Ethereum blockchain, etc. Therefore, we should distinguish between concepts such as Bitcoin, Bitcoin blockchain, blockchain, and blockchain technology.

Currently, people have several misunderstandings about blockchain. Blockchain can be described in English as "Decentralized Blockchain", where Decentralized is translated as "decentralized". However, I think the blockchain has realized the unintermediary dissemination of value, which is point-to-point value dissemination. This does not mean that after entering the blockchain era, there is no need for a center, but that it should move from a single centralization to a center and a center. parallel development. Then, the existing center is likely to become a branch center or a weak center. Currently, all banks have their own data centers. If a financial blockchain alliance is established in the future, they can become nodes in the blockchain alliance, so blockchain does not require a center.

Blockchain does not require credit

We often see some articles that believe that blockchain needs to “remove credit”. In fact, blockchain relies on consensus The algorithm builds trust and ensures the correctness of transactions through consensus among nodes. Build trust at low cost through mathematics and algorithms instead of "removing credit". However, digital asset transactions between people do not require two people to know each other or have a trust relationship with each other, nor does it require a third-party credit agency. It only requires everyone to trust the trusted network of the blockchain.

Why is it said to be credible? Because it is a distributed database, it has a consensus-based mechanism: a set of encryption algorithms, making it immutable. On the one hand, the public key makes information transparent and traceable; on the other hand, the private key can protect privacy.

Blockchain is not a mature technology, nor is it omnipotent. Blockchain technology is still in its early stages of development. At the beginning of this year, we sent a delegation to Barclays South Africa’s blockchain research laboratory to study. At the seminar, Barclays African blockchain experts believed that it will take at least five to ten years for blockchain technology to become a truly mature technology. At present, blockchain has the disadvantages of relatively slow computing speed and small storage space. Moreover, not all data processing requires the use of blockchain.

Research and application of blockchain in foreign countries

We found that established financial developed countries are already leading the way in the research of blockchain technology. The British government believes that it is very important for the government to participate in the legislation of digital currencies and blockchain networks, and the government encourages in-depth research on blockchain technology. The British government is actively evaluating the potential of blockchain technology and considering its use to reduce financial fraud and reduce costs. In addition, the UK government plans to develop application systems that can be used between government and public agencies.

In February this year, the European Commission placed cryptocurrency at the top of the list of rapid development target areas. This initiative promoted policy research on digital currencies by various agencies. Technology companies are also leading the way in research on blockchain technology.

IBM launched the "Open Ledger Project" to develop an enterprise-level blockchain software structure and promote the commercial use of blockchain technology through the Bluemix and API foundation of the IBM cloud computing platform. Architecture to support the docking of external data. IBM still has a lot of practice in blockchain technology. Recently, it and a company in South Korea conducted creative experiments using blockchain technology and the Internet of Things, and achieved some results.

Microsoft uses the Azure platform to provide users with "blockchain as a service", which can enable R3 and its bank members to speed up the experiment and learning process, and accelerate the development, testing and deployment of distributed ledgers.

Intel also released SawtoothLake, an efficient modular platform for building, deploying and running distributed ledgers; at the same time, Intel is also studying to create a trusted execution environment for hardware chips for blockchain applications, providing Greater security and privacy.

Meanwhile, Wall Street is also taking action. Although created relatively late, R3’s core function is to formulate industry standards for the development of blockchain technology in the banking industry, as well as explore practical uses and establish a blockchain alliance for banks.

From what we know, in addition to these two companies on Wall Street that cater to digital financeIn addition to new companies that have come of age, large financial institutions are studying blockchain technology and establishing their own blockchain concepts and technical teams.

Currently, blockchain technology already has practical application cases.

In Canada, the blockchain startup company "Blockchain Tech Ltd" has successfully been listed on the Toronto Stock Exchange GEM; the Estonian government will launch the government's blockchain medical insurance Record.

Domestic attention and research on blockchain technology

Blockchain is an optional technology. Previously, the People's Bank of China also held a digital currency seminar. In addition to the central bank, relevant departments such as Zhejiang Province and Beijing Municipality also expressed support for blockchain application research last year.

From an enterprise perspective, Bubi blockchain has been used in equity, supply chain, points and other fields, and is conducting trials and application tests with exchanges and banks. 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. And many blockchain innovative and entrepreneurial companies are constantly emerging.

In addition, a number of industry alliances are being established. In terms of financial institutions, the current cases of blockchain application by my country's large banks and financial institutions still need to be solved.
At the end of 2015, Bank of America had obtained 15 patents on blockchain. There may be a gap of about one and a half years between my country and the United States in blockchain technology.
Blockchain financial applications are entering a new stage in an all-round way. Various applications will become more and more in-depth, and related changes will attract more and more attention, and a huge new trend will form. .