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Ⅰ What is the blockchain for?

What is the blockchain for?

What is the blockchain for? There are many things in the world that touch our knowledge blind spots, and blockchain is one of them. However, blockchain is often mentioned, so we also need to understand blockchain. Next, I will take you to understand what blockchain is for.

What is blockchain for? 1

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 disintermediated database. As the underlying technology of Bitcoin, it is a series of related cryptographic methods. Each data block contains information about a Bitcoin network transaction, which is used to verify the validity of the information (anti-counterfeiting) and generate the next block.

Applications

1. Art industry

Ascribe allows artists to use blockchain technology to declare ownership and issue certificates. Numbered, limited edition pieces can be digital 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.

2. 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. 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.

3. Development industry

Colu is the first company to allow other companies to issue digital assets. Their ability to "tokenize" various assets has impressed many people. While 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, be able to leave and return to the system, and When storing data on the blockchain is too large, the data can be stored on the BitTorrent network.

4. Real estate industry

They plan to make the entire industry chain process more modern and solve various problems faced by everyone involved in real estate, including the naming process, land registration, Agency intermediaries, etc.

What is blockchain for 2

What is blockchain

Blockchain is a new application model of computer technology such as distributed data storage, point-to-point transmission, consensus mechanism, encryption algorithm, etc. It 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 data blocks generated using cryptographic methods.

Each data block contains a batch of Bitcoin network transaction information, which is used to verify the validity of the information, prevent counterfeiting and generate the next block. It is a set of data storage mathematical architecture constructed in a way that is almost impossible to forge or tamper with, and can be used to store all kinds of valuable data.

The Cyberspace Administration of China issued blockchain information service management regulations on January 10, 2019, which will take effect on February 15, 2019.

What is the blockchain for 3

Before talking about the blockchain, let’s talk about the Internet. The Internet is now an indispensable part of us and is closely related to our lives. First of all, the biggest disadvantage is It can only transmit information. The key is that the information data on the Internet can be set artificially. For example, it is often said to browse Weibo and so on. Secondly, there are bugs in the Internet environment, which means that there cannot be equality in data ownership. This is to say that there are some disadvantages of the Internet.

Putting aside what blockchain is, let’s talk about the Internet and blockchain. Blockchain and the Internet are a parallel relationship, and they can also be a continuation of each other’s complement. So what is a blockchain? A blockchain is actually a series of data blocks that are associated using cryptographic methods. Simply put, there are many data blocks connected in a certain time sequence. It can also be said that a blockchain is a ledger. , but the account book is different from the ordinary computer account book. The blockchain account book is jointly kept by all computers in the world. The biggest feature is that it cannot be tampered with.

What can the blockchain do?

1. Machine trust

In professional terms, it is because of the blockchain The tamper-proof nature of technology fundamentally changes the centralized credit model. Build lowest-cost credit with code. In other words, as long as the code on the blockchain is executed, there is no need to worry about the possibility of stopping midway. Creating a new era of machine trust. Blockchain is expected to lead us from personal trust to the era of machine trust. In other words, his trust cost is close to zero.

2. Value transfer

The Internet can only transfer information but cannot realize the value of information. In other words, the transition from the information Internet to the value Internet will Some fundamental changes occur. Blockchain transfer will be more convenient, while also achieving low-cost transfer of value.

3. Smart contract

This is also one of the most obvious features of the blockchain. When a pre-programmed condition is triggered, the smart contract begins execution and cannot be stopped by either party, and cannot be deleted or modified.Wait until the contract ends.

4. Token mechanism

Token mechanism is actually a form of value circulation. Through the tokenization of physical or virtual assets, it can work directly through the network. Mainly There are cost reductions, time savings and crossing borders. It can also be understood as proof of rights and interests. Xunlei and "LinkToken" all belong to the "Token" blockchain.

Blockchain characteristics

It has the characteristics of decentralization, anonymity, autonomy, openness, traceability, non-tampering, collective maintenance and no need for recognition. At present, we often talk about the following types of blockchains: public chain, private chain, alliance chain and side chain.

The application value of blockchain

1. Blockchain information security

Information security is one of the biggest features of blockchain, such as Facebook some time ago The leaks brought some negative social impacts. On May 8, Facebook established a blockchain department to study how to use blockchain technology.

2. Underlying technology

This is one of the most imaginative and core technologies of the blockchain. This is a highly professional academic. Let’s give a simple example. , the most famous project of this underlying technology is Ethereum.

3. Bass service

This is a series of services provided by using data generated by the blockchain, such as queries, etc. In terms of network and Tencent, both have launched their own Bass services. .

Where are the five blockchains mainly used?

At present, relatively mature areas include blockchain + medical care, blockchain + Internet of Things, blockchain + culture and entertainment, blockchain + public welfare, etc.

II What can blockchain do

Blockchain technology has huge potential, and many investors are interested in what entrepreneurs can do with this technology. What can blockchain do? ?

Building a Digital Identity

Like our guide, how do blockchain skills work? The discussion is like this. The signature component of blockchain skills is completed using keys. Combining the public key and the private key can be referenced based on the strong digital identity possessed.

How the public key is identified in the crowd ( (e.g. email address), private keys are a way to express consent for digital interactions. Cryptography is an important force behind blockchain innovation.

As a system of record

Our guide What is Distributed ledger? .Blockchain is an innovation in information registration and distribution. It is suitable for recording static data (registry) and dynamic data (transactions), evolving the recording system.

In the registry, data can be passed through three Any combination of methods is stored in the blockchain:

Unencrypted data - readable by every blockchain participant in the blockchain with full transparency.

EncryptedData - participants and decryption keys are read. The key can access the data of the blockchain, proving who added the data and the time when the data was added.

Ⅲ What can the blockchain do

The analysis of Heshu Software is as follows;
There are so many things that can be done by joining the blockchain. Your computer’s computing power and your bandwidth will become a “bookkeeping book” in the network to help manufacturers record records. The data you need and even the electricity are part of the sharing.
Heshu Software will focus on promoting the legal circulation and commercial application of big data using blockchain technology.

IV What does blockchain do

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 also a decentralized distributed ledger system that can be used to register and issue digital assets, property rights certificates, points, etc., and conduct transfers, payments and transactions in a point-to-point manner. Compared with traditional centralized ledger systems, the blockchain system has the advantages of being completely open, non-tamperable, preventing multiple payments, and does not rely on any trusted third party.

In other words, the previous computing model required a computer to perform all calculations to draw conclusions, while the technical application of blockchain is to use "distributed" to transfer a complex operation separately. Giving N multiple computers to perform simultaneous operations not only reduces the storage load of each computer, but also saves time. Finally, all results are integrated through the "consensus mechanism" to obtain the final result.

IV What is blockchain technology and what areas it may be used for in the future

Blockchain is a distributed shared accounting technology. What it does is enable 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 has been applied in several fields. In the first field of digital assets, in addition to some points and check-in cards we have seen, it also includes various other assets, and there is a process of asset digitization.
The second area is the field of trade finance. Because the field of trade finance is originally a multi-link and multi-party participation method, blockchain can greatly improve the efficiency of the middle, making many of the original substitutes effective.
The third area uses equity, which is a company's equity like some regional equity trading centers. The purpose is to facilitate equity-to-transactions and facilitate relative circulation. At present, the multi-center blockchain system can indeed improve efficiency and reduce costs.
Xinlian is an information platform for news and data mining that is vertical in the field of blockchain. We hope it will be helpful to you.

VI What industries can blockchain be used in?

There are many things that can be done, including digital IP, public welfare, finance, and supply.Supply chains, logistics, etc.

VII What can blockchain technology do

There are so many things that blockchain can do. However, blockchain is just a technology, a technology with very broad prospects, similar to the Internet technology in the 1990s. The Internet has proven to be the greatest technology in the 21st century and has changed the way humans live.
For example, blockchain can be applied to financial fields such as P2P, bills, securities, etc., and can also be applied to contracts. Of course, intellectual property rights can also be protected, such as the distributed content publishing platform DECENT.