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1. What are the challenges in the application of blockchain technology in the Internet of Things?
What are the challenges in the application of blockchain technology in the Internet of Things
Block The challenges of blockchain in the Internet of Things include but are not limited to the following three points:
1. The deployment and implementation of the blockchain are jointly participated by multiple nodes, but the storage and computing capabilities of the Internet of Things nodes have certain limitations. limitation. Therefore, the deployment of blockchain technology in IoT nodes, whether the blockchain architecture is hierarchical, and issues that need to be strengthened in existing blockchain technology all need to be taken into consideration.
2. The Internet of Things will be real-time, and the blockchain consensus mechanism generally has delay problems. Therefore, consensus delay may cause feedback delay and alarm delay, which cannot meet the needs of existing IoT applications and requires further technical improvements.
3. The current application of blockchain in the Internet is only carried out within a certain range and limited nodes. Once blockchain is applied to the Internet of Things, the number of nodes will increase exponentially, and its frequent relational data query requests will pose a very serious challenge to the existing chained data architecture.
In today's society, new technologies and industries are emerging around the world, and network technology is being transformed into productivity at an unprecedented speed. The development prospects of the Internet of Things are broad, but it faces many historical opportunities and challenges; the application of blockchain in the Internet of Things can, to a certain extent, solve the problems and new needs faced by the Internet of Things.
2. What challenges does the blockchain currently face?
What challenges does the blockchain currently face
At this stage, application projects in the blockchain field are mainly divided into There are two aspects: one is new business models that are more compatible with blockchain technology, such as cross-border payments, supply chain finance, product traceability and other scenarios; the other is applications based on reform of existing centralized businesses, that is, the use of Token economic incentive mechanism.
With the development of technology, the number of application projects in this field is expanding rapidly. Many people believe that 2018 will be the year when blockchain will truly integrate with the real economy and explode. However, blockchain technology is still in its early development stage and faces challenges including the regulatory environment, lack of talent, and technical awareness.
From a technical perspective, applying blockchain technology to actual industry scenarios requires solving issues such as transaction speed, data consensus, and node maintenance. The current Bitcoin network can only process seven transactions per second, and the leading Hyperledger technology can only reach the level of 200 to 300 transactions; compared with the centralized system that can process tens of thousands of transactions per second, there is still a gap. Large distances. In addition, the current lack of relevant incentive mechanisms in the field makes it difficult for participating nodes to operate in an orderly manner. From a regulatory perspective, although most countries are actively embracing blockchain technology, there are currently no relatively complete regulatory regulations and industry standards. Inappropriate regulatory measures may hinder the innovative development of such emerging technologies.
Subject to the fact that the underlying technology needs to be further matured and intelligently integratedAffected by various factors such as the lack of public chain platforms, insufficient ecological compatibility of various Tokens, and unclear government supervision, the implementation of blockchain application projects at this stage is relatively slow, and the quality of projects also shows uneven quality. For this reason, analysts said that compared with general-purpose blockchains, what will achieve breakthroughs in the short term may be focused blockchains for specific scenarios and applications.
3. Which technical characteristics of blockchain increase the difficulty of supervision
Characteristics of blockchain:
1. 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.
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.
Blockchain
Blockchain (BlockChain) technology is a method that uses a decentralized consensus mechanism to maintain a complete, distributed The technology of a formal, non-tamperable ledger database allows participants in the blockchain to implement a unified ledger system without establishing a trust relationship. The block is a public ledger and is maintained at multiple points; the chain is stamped with timestamps (Timestamps) and cannot be forged.
There is a database behind all current systems, which is a big ledger. Then who will keep this ledger becomes very important. Now it’s whoever owns the system who keeps the accounts. Each bank’s account books are kept by each bank, and Alipay’s account books are kept by Alibaba. But now in the blockchain system, everyone in the system has the opportunity to participate in accounting.Reference for the above content: Network--Blockchain
4. What kind of problems can blockchain technology solve?
What kind of problems can blockchain technology solve? ? Blockchain technology can solve the trust problem at a relatively lower cost, which plays an important role in reducing the burden of the real economy and reducing transaction costs, which is now emphasized, and has great social value. At the same time, there is still a need for continuous exploration of the blockchain technology itself. It is believed that independent controllable intellectual property rights and patents can be integrated with this technology in the future.
In the future, Jinwowo will focus on promoting the legal circulation and commercial application of big data using blockchain technology.
Jinwowo analyzes the problems that blockchain technology can solve as follows:
The most important thing about blockchain is that it solves the problem of intermediary credit. In the past, it was difficult for two people who did not know and trust each other to achieve collaboration, and they had to rely on a third party.
For example, in payment behavior, any kind of transfer in the past required the existence of an institution such as a bank or Alipay.
However, through blockchain technology, it is the first time that humans have achieved a transfer behavior that both parties can trust without the participation of any intermediary agency. This is a major breakthrough for blockchain.
Analysis by Chongqing Jinwowo: The most important thing about blockchain is that it solves the problem of intermediary credit.
In the past, it was difficult for two people who did not know and trust each other to achieve collaboration, and they had to rely on a third party.
Chongqing Jinwowo analyzes the problems solved by the application of blockchain technology as follows:
The most important thing about blockchain is that it solves the problem of intermediary credit. In the past, two people who did not know and trust each other had to reach an agreement. Collaboration is difficult and requires a third party.
Through blockchain technology, it is possible to complete behaviors in which both parties can trust each other without the participation of any intermediary agency. This is the problem solved by disintermediation (decentralization) in blockchain technology.
Blockchain solves the problem of trust, which is the root of all problems.
WaykiChain is a smart contract platform that supports Turing completeness. WaykiChain adopts the dpos consensus mechanism, with a total of 11 voting nodes, which generate a new block every 10 seconds. Through smart contracts, WaykiChain can realize rich application scenarios such as asset issuance, betting applications, copyright traceability, mutual insurance, decentralized exchanges, and cross-border settlement.
But the most important thing in these scenarios is trust and openness and transparency.
What problems can blockchain technology solve?
Based on mechanisms such as distributed accounting, collective contracts and intelligent consensus, blockchain technology presents information processing characteristics such as decentralization, open sharing, authenticity and reliability, which has attracted increasing attention and attention in the financial field, especially in the Internet financial field. Research applications. There are many blockchain system development companies. Blockchain technology development companies like Renren Chain are relatively reliable. You can refer to blockchain solutions.
Point 1: First of all, you must understand the technical strength of the blockchain technology service provider you choose, including the underlying strength of the blockchain and the technical strength of the team; what successful cases have been developed. Ask for developed projects, and the other party will analyze previous successful cases.
Point 2: It depends on the other party’s existing underlying blockchain architecture and project development experience.
Point 3: You can ask your friends if they know anything about it and recommend it. I personally know that the Renren blockchain BaaS platform has good overall strength. It can quickly build its own IT infrastructure and blockchain services on an open cloud platform. Of course there are others, choose the platform that suits your business. There are still issues that need attention that have not been mentioned, and I hope others can help add them~
The blockchain is similar to a "public ledger". Each block is a "ledger page". When people conduct transactions on the blockchain, the transaction data will be disclosed to every node in the blockchain, and It is recorded on the "ledger page", permanently stored, and cannot be tampered with. In view of the decentralization, openness and non-tampering characteristics of the blockchain, each work entered into the blockchain copyright registration system will generate a unique digital fingerprint that cannot be tampered with.
Users only need to pass the Xiaoxi Copyright Chain platform identity authentication authorization, and after successfully authenticating "I am me", submit the work to the Copyright Chain. After the background review is passed, the data will be generated and written into the blockchain to generate a certificate. To apply for a paper certificate from the Copyright Protection Center, you need to click "Copyright Certificate Application", then follow the steps to fill in the information, pay the fee, and wait for review... From this point of view, the blockchain + copyright model is really safe, time-saving, and effort-saving.
When it comes to legal protection, we have to mention "infringed" copyright as an intangible asset. If the creator lacks awareness of rights protection, the work may face infringement. Xiaoxi Copyright Chain does this relatively well in the industry. The reason why this platform has become the first smart rights protection platform based on blockchain in China is also inseparable from the support of the Chongqing Notary Office. The digital document storage technology based on the blockchain has been recognized by the notary office and can ensure that the content of the notarization application cannot be tampered with, providing help for the digitization, networking, and informatization of notary services. Notarization parties can submit "preservation evidence" for notarization online through the Xiaoxi platform, making the rights holder's ownership of the work more judicially effective, effectively facing infringement, and improving risk response capabilities.
Blockchain, a new credit evaluation system, provides new technical support for the service reform of notary offices. Xiaoxi Copyright Chain has moved part of the business of the Chongqing Notary Office onto the blockchain platform, which can be called an innovation of blockchain in the field of notarial certificate business. In the process of notarization, material review and verification is the most critical and important part. The process design of the "blockchain + notarization" background changes the previous steps that required manual verification in various departments. Notaries only need to review the materials provided by users online to quickly complete the review and verification work, which greatly improves work efficiency.
The distributed architecture and non-tampering characteristics of blockchain technology can help solve problems such as the authenticity of bills and opaque information. When parties need to verify whether a note has been tampered with or transferred, blockchain can provideIndisputable proof of consistency.
Digital currency also takes advantage of this feature of blockchain. Puyin is a tea-based digital currency developed based on blockchain technology.
Analysis of Chongqing Jinwowo:
First, through its application in the field of digital currency, blockchain provides a solution for the flow of capital flow (or capital flow) information on the Internet.
Secondly, the blockchain solves the problem of confirmation of authority during the transaction process through encryption and reference to distributed ledgers.
Thirdly, the blockchain determines the exchange of digital assets through the technology of consensus mechanism.
5. What is blockchain technology and how does it change business and financial models
Blockchain technology is a distributed ledger technology that Allows multiple participants to jointly maintain a secure, transparent and immutable record on a decentralized network. Blockchain technology was originally designed for the digital currency Bitcoin, but is now widely used in many other fields.
The core features of blockchain technology include:
Decentralization: Blockchain has no central control agency, and data is distributed on various nodes in the network, which makes it decentralized. The centralization feature reduces the risk of single points of failure.
Transparency: Transaction records on the blockchain are public to all participants, and anyone can view these records. This helps increase trust and reduce the risk of fraud.
Immutable: Once a transaction is recorded on the blockchain, it cannot be easily modified or deleted. This guarantees data integrity and security.
Smart contracts: Transactions on the blockchain can be automatically executed to implement "smart contracts", which automatically execute corresponding operations when specific conditions are met. This helps simplify complex business processes and reduce costs.
Blockchain technology has had a profound impact on business and financial models, which is mainly reflected in the following aspects:
Reducing costs: Blockchain technology can reduce intermediary links and reduce costs. Transaction costs and operating costs. For example, by adopting blockchain for cross-border payments, remittance fees can be significantly reduced.
Improve efficiency: The automation and smart contract features of blockchain technology help improve the efficiency of business processes, reduce manual intervention, and reduce error rates.
Enhance trust: The transparency and non-tamperability of blockchain technology help to establish a reliable trust system, reduce the risk of fraud, and provide better protection for business activities.
Innovative business models: Blockchain technology has spawned many new business models, such as decentralized finance (DeFi), digital asset trading, supply chain finance, etc. These new business models have brought disruptive changes to existing industries.
In short, blockchain technology, as an emerging technical means, is gradually changing the way businessindustry and financial landscape. With the continuous development of technology and the in-depth promotion of applications, blockchain is expected to have a more extensive and far-reaching impact in the future
6. The future of blockchain is a major trend
Zone Blockchain uses P2P technology, cryptography, consensus algorithms and other technologies, and has the characteristics of non-tamperable data, collective system maintenance, and information disclosure and transparency. Blockchain provides a mechanism for information and value transfer and exchange in an untrustworthy environment, and is the cornerstone of building the future value Internet.
Trend 1: The application of blockchain industry is accelerating, penetrating and spreading from digital currency to non-financial fields
As a universal technology, blockchain technology has expanded from digital currency to non-financial fields. Accelerate penetration into other fields and integrate innovatively with all walks of life. We believe that future blockchain applications will be driven by two camps. On the one hand, the IT camp starts with information sharing and focuses on establishing credit at low cost, gradually covering areas such as digital assets. On the other hand, the cryptocurrency camp starts from currency and gradually advances to the fields of asset management and certificate depository, and spreads to credit reporting and general information sharing applications.
Trend 2: Enterprise applications are the main battlefield of blockchain, and alliance chains/private chains will become the mainstream direction
At present, the actual applications of enterprises are concentrated in the field of digital currency, which belongs to virtual economy. We believe that future blockchain applications will move from virtual reality to reality. More traditional enterprises will use blockchain technology to reduce costs, improve collaboration efficiency, and stimulate the growth of the real economy. This will be the main battlefield for blockchain applications in the future.
Unlike public chains, in enterprise-level applications, everyone pays more attention to factors such as blockchain control, regulatory compliance, performance, and security. Therefore, we believe that strong management blockchain deployment models such as alliance chains and private chains are more suitable for enterprises to use in application implementation, and are the mainstream technology direction for enterprise-level applications.
Trend 3: Applications have spawned diversified technical solutions, and blockchain performance will continue to be optimized
In the future, blockchain applications will develop from single to multiple directions. Different applications such as billing, payment, insurance, and supply chain will be highly differentiated in multiple dimensions such as real-time, high concurrency, latency, and throughput. This will lead to a diverse range of technological solutions. We believe that blockchain technology is far from finalized and will continue to evolve in the future. There is room for efficiency improvement in technical aspects such as consensus algorithms, service sharding, processing methods, and organizational forms.
Trend 4: Blockchain and cloud computing are increasingly integrated, and BaaS is expected to become a public trust infrastructure
Cloud computing is the general trend. We believe that the combination of blockchain and cloud is also an inevitable trend. There are two models for the combination of blockchain and cloud, one is blockchain on the cloud, and the other is blockchain in the cloud. The latter one, namely BaaS, Blockchain-as-a-Service, refers to the cloud service provider directly providing blockchain as a service to users. In the future, cloud service companies will increasingly integrate blockchain technology into the cloud computing ecological environment. By providing BaaS functions, they can effectively reduce the deployment cost of enterprise application blockchain and lower the initial threshold for innovation and entrepreneurship.
Trend 5: Blockchain security issues are becoming increasingly prominent, and security protection requires overall technical and management considerations
From a mathematical perspective, the blockchain system is almost perfect. It has the advantages of openness and transparency, difficulty in tampering, reliable encryption, and resistance to DDoS attacks. However, from an engineering perspective, its security is still restricted by infrastructure, system design, operation management, privacy protection, and technology update iterations. In the future, we need to consider the overall situation in terms of technology and management, and strengthen basic research and overall protection to ensure application security.
Trend 6: The cross-chain demand for blockchain is increasing, and the importance of interconnection is highlighted
With the deepening of blockchain applications, payment and settlement, logistics traceability, medical records Enterprises or industries in areas such as identity verification and identity verification will establish their own blockchain systems. We believe that cross-chain collaboration and interoperability among these numerous blockchain systems is an inevitable trend in the future. It can be said that cross-chain technology is the key to blockchain realizing the Internet of Value, and the interconnection of blockchains will become an increasingly important issue.
Trend 7: Blockchain competition is becoming increasingly fierce, and patent competition has become an important area of competition
As the number of participating entities increases, blockchain competition will become increasingly fierce. Competition is all-round, including technology, models, patents and other dimensions. We believe that in the future, companies will strengthen their layout in blockchain patents. Since 2014, the number of blockchain patent applications has exploded. Blockchain patents are mainly distributed in the United States in North America, the United Kingdom in Europe, and China and South Korea in Asia. This pattern will be maintained in the future. The patent gap between China and the United States is narrowing, and China’s number of applications in 2016 has surpassed that of the United States. It is foreseeable that the competition for blockchain patents will become increasingly fierce in the future.
Trend 8: Blockchain investment continues to be popular, and the cumulative risks of the token crowdfunding model deserve attention
Blockchain has become a hot spot pursued by the capital market. Future investment will continue the rising trend from 2014 to 2016. Different from the financing models in other technology fields, a model called "token crowdfunding" has emerged in the blockchain field, namely Initial Coin Offering (ICO) is a crowdfunding method for startups to issue tokens and raise funds. As the transaction volume of token crowdfunding increases, risks such as lack of review, huge value fluctuations, and being on the edge of regulation for many projects will increase, which deserves attention. This afternoon, a group of friends chatted with me privately and asked about the so-called golden chain, which needs to rely on the model of 1 pass 2, 2 pass 4, 4 pass 16 to obtain income. This is an obvious pyramid scheme to attract people, but there are still many people who just Friends who have entered the currency circle and have just learned about blockchain will be deceived. I hope they can understand the essence and be responsible for their own funds!
Trend 9: There is a conflict between blockchain technology and supervision, but the contradiction is expected to be further reconciled
The decentralization, disintermediation and anonymity of blockchain are in line with its tradition The corporate management and government regulatory systems are not coordinated. But we should also see the opportunities that blockchain brings to supervision. We believe that in the future, enterprises will actively cater to regulatory needs and proactively build in regulatory requirements in technical solutions and model designs. They will not only achieve compliant operations, but also significantly save the cost of regulatory compliance. We also believe that in the future, regulatory authorities around the world will also embrace blockchain, a new regulatory technology, and use new technology to improve government regulatory efficiency.
Trend 10: Trustworthiness is the core requirement of blockchain, and the importance of standards and specifications is becoming increasingly prominent
In the future value delivery network based on blockchain, We will use algorithms and software entirely to build a foundation of trust. But we believe that this is far from enough. Standards are also needed to add credibility to the blockchain. In the future, blockchain standards will start from the user's perspective and be business-oriented, standardizing the technology and governance of blockchain from the dimensions of smart contracts, consensus mechanisms, private key security, permission management, etc., and enhancing the efficiency of blockchain. The degree of credibility adds weight to the trust of the blockchain.
Summary
The above are the ten major trends summarized. To summarize, there are four points: First, blockchain is the foundation of the value network and has gradually become an indispensable part of the future Internet. Second, as application scenarios become increasingly abundant, applications will drive the continuous improvement of blockchain technology, and the integration of blockchain and cloud will become increasingly closer. Third, although the blockchain is mathematically complete, there are also security issues. In the future, security needs to be strengthened from the engineering and management levels, and standards are also needed to improve credibility. Fourth, blockchain technology will gradually adapt to regulatory policy requirements in the future and gradually become an important tool for regulatory technology.
7. The upgrade of blockchain technology enables blockchain applications to be regulated
The upgrade of blockchain technology enables blockchain applications to be regulated
Internet era, computingMachinery has proposed many trusted computing methods very early, that is, any blockchain technology node adopts a trusted computing module. Therefore, trusted computing can make it easier to upgrade and iterate technology in distributed networks.
In terms of the real-name system of blockchain technology, there is a blockchain technology laboratory in the United States, and they have proposed many technical solutions for real-name systems. For example, the current blockchain technology is point-to-point. In many countries, such as South Korea, each person has an electronic certificate, and real-name electronic certificates must be used for signatures during transactions. Of course, there are simpler solutions. We can store the IP address of the entire device as part of the transaction on the blockchain application.
In this way, the entire blockchain technology transaction can realize the real-name system of the technology. So this is an optional real-name system. We can build a real-name blockchain application network or an anonymous blockchain application network.
Super Key is also a major advancement in the current development of blockchain technology. Because it is a distributed network, how do we supervise it and how do we control it? In cryptography, we call it the so-called multi-signature.
We (yunbaokeji) design a different blockchain application network. If it is a blockchain application network used by a bank, we can design a super key. The keys of all nodes must be together with the super key to generate a wallet.
Then this super key must be in the hands of regulators or certain institutions, who can have limited control over blockchain applications. For example, currently the data on blockchain applications cannot be deleted, so the super key actually allows powerful organizations to modify the distributed network.
So what kind of technology is blockchain:
(1) Distributed decentralization,
(2) No need to trust the system,
(3) Unable to Tampering and encryption security. I know these words individually, but what do they mean together?
1. Distributed decentralization. This is talked about all over the Internet. Needless to say, in short, there is no longer a need for a central server. Everyone’s data is obtained from this server. Instead, The data is placed on N devices connected to the Internet, and everyone can download and store it.
2. No need to trust the system. Do you trust banks? Because the bank is recognized and established by the state, the blockchain implements a trust method that does not require a third party. N devices on the Internet are used to store data, and everyone can verify the data. As long as more than half of the people think you are right, you are right. No one person or organization can modify more than half of the content on the Internet. If you don't believe in others, you should always believe in your own verification results. If you don't believe in yourself, then congratulations, you are a great philosopher.
3. Non-tampering and encryption security
Blockchain uses a series ofTechnology, such as cryptographic algorithms such as SHA256 and RIPEMD160 to ensure non-tampering and encryption security. For example, 0101100011101110 represents a character. The algorithm requires shifting 4 bits to the left, supplementing with 0, throwing away the 4 bits on the left, and replacing the right with 4. A result of 0 is obtained. How to deduce the original value based on the result? Of course this is just a simple example.
8. New opportunities and challenges for blockchain enterprise applications
New opportunities and challenges for blockchain enterprise applications
New technologies come from the combination of existing technology modules. Once the power of the combination is superimposed, it will stimulate exponential growth in the economy. The economy is an expression of technological evolution.
Blockchain is actually a combination of several technologies, including peer-to-peer communication (P2P), distributed ledgers (also known as distributed storage), asymmetric encryption, etc. Once these technologies are combined, they will have a great impact on some new business models and economic forms, and these impacts are being revealed - now the world has entered an era called global automation, which is the fourth stage of our current informatization. stage.
We can call the Internet era that began in the 1990s and continues to the era represented by social media such as Facebook the pre-Internet era, that is, the first half of the Internet economy. The core of the rules in this first half is to improve productivity. Many technologies do not actually change the shape of enterprises and the economy. They achieve economic leaps by improving productivity. Now the new rules are called the era of automated global network economy. The core of the rules is to enhance connections and improve production relations, such as the sharing economy that has opened up a new business form. However, the current form of the sharing economy is still an economic model built with centralized Internet companies as the core. The current shared bicycles and Didi are a one-way economic model. In fact, they do not feed back the growth and improvement of value to users.
The global era of automation not only requires productivity-enhancing technologies such as artificial intelligence, blockchain edge computing, etc., but more importantly, it requires a new model to improve production relations. Blockchain is actually such a new technology that can bring a new shift in business models to everyone.
So the future is here. Among the current eight core technologies, including blockchain, Internet of Things, augmented reality, virtual reality, artificial intelligence, robots, drones, 3D printing, etc., only blockchain has made improvements. Production relations, technologies that enhance connections.
Microsoft believes that technologies such as mixed reality, artificial intelligence and quantum computing are revolutionary new technologies that will continue to improve productivity in the future. But in fact, blockchain is not a new technology. It is just a combination of existing technologies. Its value lies in creating a trustworthy platform. As Alan Weber, founder of Fast Company, said: The new economy starts with technology and ends with trust.
November 2015,The cover of The Economist magazine is called trustmachine, which is the machine of trust, the promise of blockchain. In fact, it is announced from this perspective: Blockchain technology is actually the core technology of the future Internet 3.0. This technology will gradually be transmitted to many aspects of the entire social and economic life through upper-layer applications, providing support for many business models, industry operations and governance systems. Bring innovation. Blockchain builds a new type of Internet with value as the core, rather than the old generation Internet with information as the core.
2 Blockchain+ vs. Internet+
Blockchain integrates trust mechanisms and technology and will bring great changes to the world.
In the Web 1.0 era before 2005, e-commerce portal entrepreneurs basically used a large portal to start their business in a one-to-many manner.
The Web 2.0 era is the era of social networks and sharing economy, but in this ecosystem, core enterprises are still centralized, monopolizing user relationships and large amounts of data, enjoying the value of user contributions, and deciding rules at will. In this case, the so-called Internet + is an information model that is harmful to traditional enterprises.
The Web 3.0 era is a new global sharing economy based on the blockchain value network. It is decentralized, so there will be no oligarchic monopoly on innovation, interactions will be more spontaneous, and the scope of collaboration will be wider. Extensive, the impact will be more comprehensive and deeper.
Therefore, the best way to digitally transform and upgrade traditional enterprises or industries is not Internet+, but Blockchain+. Because Internet+ still needs to rely on a centralized, classical Internet enterprise. Although companies like Alibaba, Tencent, JD.com, and Xiaomi are now at their peak, they are still essentially centralized enterprises that formulate the rules of the game for the ecosystem and monopolize customer relationships and data.
We call blockchain+ web3.0, which actually has a higher dimension than traditional Internet companies and Internet ecological companies. When information was scarce in the past, it was necessary to build a hierarchical structure and center to improve the overall information transmission efficiency. But when there is enough information, the network of peer-to-peer relationships (P2P) will gradually replace it, and when these networks of peer-to-peer relationships are connected together, a high-dimensional additive value network can be formed. . Enterprises formed based on this network system are called consensus economic social enterprises.
The high-dimensional business model of blockchain+ has a stronger future-oriented imagination than the existing Internet ecosystem or companies such as Internet+ enterprises. Let’s review most traditional companies: One-dimensional companies are engaged in engineering, and their main business models are actually rent-seeking, resource monopoly, and customer relations; two-dimensional product companies have certain product development and marketing capabilities, but this Both are company forms in the industrial economy era. Their value curves are linear, and you get what you invest.Invest ten and get ten. Therefore, a company like Jack Ma with a market value of hundreds of billions of dollars, in fact, due to so many years of accumulation, is actually in line with the traditional neoclassical economic growth pattern, and its marginal returns are diminishing.
At Sanwei Internet Service Company, due to the addition of online service dimensions, data value-added services began to be provided. Its core is low-cost customer coverage, which reduces the service cost to customers, so its adaptability can be higher than In two dimensions, the price-to-earnings ratio of a company in this form can be as high as more than twenty times. The third-dimensional company can further open up the API and allow third parties to develop more applications on its platform. At the same time, it can connect service providers and users to form an online market. This constitutes a platform company. Platform The company's price-to-earnings ratio can exceed forty times.
When platform companies further open up their capabilities, combine resources such as data network brands and users with investment services, and empower partners, they will become Internet ecological enterprises like BAT. This ecosystem The price-to-earnings ratio of Internet companies in a centralized cluster may even exceed 100 times.
This is why these companies are desperately advocating Internet +. In fact, Internet+ does not create new value for traditional companies. It just uses the method of attracting stars to attract all the data, customer relationship channels, etc. of traditional companies to Internet ecological companies. They only play a subversive role in traditional enterprises, but they do not create greater value for society. They are still a value ecosystem with their own enterprises as the core.
Everyone has contributed to Jack Ma’s company for so many years, and has continuously contributed so many transactions and data to support his corporate price-earnings ratio. If you think this is not a particularly fair way, then we now have a new business model, which is blockchain. Through the blockchain + industry, an alliance ecosystem is formed, that is, the alliance chain. Even if it does not issue coins, it can have a higher dimension than existing Internet companies, because it is a cross-organization and cross-platform industry-oriented business processes, a secure distributed sharing, which will completely subvert the traditional enterprise ownership model.
The blockchain uses consensus mechanisms and beliefs to connect enterprises, which forms an industry chain, a decentralized social enterprise owned by the whole people, and can embed trust and security mechanisms without the need for a third party. In the autonomous agreement of the entire industry chain, the data of all relevant parties will be respected and protected on the chain. At the same time, if C-side users can be added in the future, and then through digital currencies, certificates or tokens, new business model dimensions can be added and greater value space can be opened up. That is to say, all businesses are combined with B2C business to form an industry palace for all employees.
This is what we call the bright future of the business model that blockchain 3.0 brings to everyone. It is completely based on a decentralized high-dimensional value network. I have listed for you some entrepreneurial project companies in this field, whether in distributed cloud storage, decentralized secure social networking, distributed identityThere are now many 3.0 creative innovation companies in various fields such as management, distributed copyright and digital asset management, Internet of Things smart contracts, public governance anti-counterfeiting and anti-fraud, digital market transaction prediction, etc.
Three Opportunities and Challenges of Blockchain
Most of the projects currently implemented are relatively easy to combine finance and digital asset management due to the inherent properties of blockchain technology. However, in fact, we have also seen that traditional industries are also becoming more and more popular. There are more and more new opportunities to combine blockchain. This market will reach 176 billion US dollars by 2025, and will reach 3.1 trillion US dollars by 2030. This is actually a very, very huge number.
There are actually many strange entrepreneurial projects in China, but now the government has imposed some restrictions last year. However, in the future, the government will have some new compliance requirements for digital currencies, and will gradually relax restrictions on blockchain infrastructure.
2018 is a very critical year for enterprises to go online. This is equivalent to 20 years ago when you talked to companies about enterprise internet. It sounded like a fantasy and they didn’t know how to start. But those who started exploring the Internet for enterprises early were precisely the group of pioneers from around 1997 to 2000. They eventually became the trendsetters of the previous generation of classical Internet. Therefore, 2018 is a very critical opportunity for traditional enterprises.
The main application scenarios of blockchain + are actually nothing more than several areas based on the core technology of blockchain, such as digital identity management, digital asset management, development and deployment of distributed applications, and the development and deployment of smart contracts. Services, these four main application scenarios combine some characteristics of the industry to provide enterprises with application implementation services.
Four Theoretical Pioneers of Blockchain
So enterprises need to fully refresh their understanding and upgrade the underlying commercial operating system in this round of opportunities. There are some disruptive innovations here, giving traditional industries and the public the opportunity to counterattack the classical Internet. I have listed a few books here. If you have time, you can read them and have a deeper understanding of blockchain. Although some of these books were written in the 1930s and 1970s, classics always have guiding significance.
The most famous is Schumpeter's theory of economic development. He believed that innovation is the fundamental cause of economic development.
Then Thomas Kuhn proposed that the technological paradigm revolution is not continuous. At a certain stage, it will cause a new revolution. When the revolution comes, many traditional enterprises will die, but at the same time new technologies will establish Business models and economic forms will explode.
Christensen’s main contribution is of great significance to how traditional enterprises can seize opportunities, avoid the innovator’s dilemma, and embrace new opportunities to achieve transformation and innovation.
The British management guru, Charles Handy, his current book is called "The Second Curve", which mainly talks about how traditional enterprises can achieve leapfrog and transformation with the help of technological innovation and business model innovation.
5 Crossing the Second Curve
In terms of crossing the second curve, Microsoft’s own experience and lessons are actually worth learning from. Everyone knows that Microsoft was the overlord of the PC era. At that time, 76% of the industry's profits were divided between Microsoft and Intel. However, it also fell into the innovator's dilemma. It was the success of the PC that caused Microsoft to miss out on the mobile Internet. The opportunity has allowed Apple and other companies to overtake it, but Microsoft has not missed the opportunity of cloud computing. Microsoft's early layout in AI has given Microsoft a great lead in the world's smart cloud and blockchain. These experiences and lessons can be summarized to help traditional enterprises achieve digital transformation.
Microsoft has seized opportunities in artificial intelligence-led cloud computing, blockchain IoT edge computing, and mixed reality. The second curve has been achieved, and Microsoft will have some new layouts in the future, such as quantum computing, etc., which are some of Microsoft's own successful experiences. Of course, there are some lessons from failure. In terms of mobile Internet, Microsoft also acquired Nokia. In fact, Nokia is not worth acquiring at all, because Nokia has not crossed from the first curve to the second curve. In terms of mobile Internet, Nokia will be ignored by outsiders. Companies that have never done mobile Internet are easily defeated.
This kind of digital transformation of the enterprise industry, or the conversion of old and new kinetic energy, mainly helps traditional enterprises connect with external entrepreneurs, incubate entrepreneurial projects through propositions, and achieve transformation and innovation. Therefore, a new type of enterprise outsourcing innovation is needed. Incubation method. Because if the company does its own incubation, it will still be tied to the business trajectory of the first curve, so it can only be incremental innovation to improve the efficiency of existing products or services. For the second innovation, it needs to allow a certain space for trial and error, so it needs to use new methodologies to guide disruptive innovation.
It needs to be oriented towards value creation and growth, and cannot be tied to the current core business, because once tied to the current core business, all performance appraisal management mechanisms will fall into excessive path dependence, resulting in lock-in. In this case, it will not be able to jump out of the original business boundaries and will not be able to see changes in the external market. This is also the reason for Nokia's failure. Nokia strives for excellence in traditional mobile phones, and its management efficiency is very good. So when it was acquired by Microsoft, Nokia didn't know how it lost.
Nokia’s failure was actually due to its failure to see that disruption may not come from within your industry, but may also be intruders from the outside. That is to say, as said in "The Three-Body Problem": If I destroy you, it actually has nothing to do with you.
The second curve plan is to prevent traditional enterprises from falling into their own business development trajectories, so enterprises need transformation and customized accelerators to help them develop new business directions. And this requires a mechanism to guarantee, because the original internal incubation of enterprises comes from the internal organizational structure process, so we must use external incubation methods to directly recruit outside entrepreneurs to supplement fresh blood, and then achieve transformation and innovation through hybridization, and more importantly Focus on the outsidemarkets and partners.
This will give entrepreneurs a great degree of freedom, and then encourage them with a high risk-reward ratio through the setting of company equity. As an enabler, the enterprise will provide business resources and start-up funds, but do not interfere too much in entrepreneurial projects. own operations and development. All companies need to do is observe, give feedback, and wait. If such a project can be incubated, it will be a great impetus for expanding corporate boundaries and activating corporate ecology.
Six application scenarios of blockchain
The following is a brief introduction to several blockchain application scenarios:
The first is blockchain + cross-border trade financial services. In fact, this involves many solutions, including exporters, importers, issuing banks issuing letters of credit (LoC), etc. These actually require a mechanism that can securely share data across agencies, organizations, and platforms. , and blockchain can just guarantee the realization of the solution. And through smart contract automation, when various conditions are met, clearing and settlement payments can be completed automatically without manual participation.
Cross-border trade finance involves many parties. If we follow the existing method, each party has its own system and some procedures need to be carried out repeatedly. Reconciliation needs to be confirmed by email and fax. It can take three to five weeks to complete a trade finance deal.
Now through the blockchain, all parties in trade finance can share the data on the ledger, and the member units of the alliance chain can be updated synchronously. The use of smart contracts can realize automatic and synchronous execution of multiple parties, so that end-to-end The end-end business process is shortened from three to five weeks to two or three days, and operations that originally required repeated confirmation can be greatly simplified. It only takes about 5 steps to achieve a closed loop of trade finance.
Blockchain can also be used to improve medical and health services. Patients have certain rights to decide who to share their medical history and other information with, to what extent, for how long, etc. Blockchain can effectively solve problems that traditional, decentralized medical drug R&D, physical examinations and other institutional systems cannot solve. This requires the establishment of a personal health data bank.
Blockchain can also be used for cold chain logistics and end-to-end food safety traceability services. From the origin of food to slaughtering, processing, and transportation, all data parameters can be uploaded to the chain, which will provide an end-to-end security guarantee.
For example, the salmon in Norway is doing food safety traceability through a blockchain company, and in this process, because the data of all parties are on the chain, he can later pass Self-service smart contracts realize payment and settlement of supply chain finance based on event triggers, which greatly improves the efficiency of the entire supply chain.
Blockchain can also provide services in the education and employment markets. School research institutions, examination institutions, employers, and government departments can safely share students’ academic qualifications, certificates,Papers and other data.
The most important thing is that blockchain can also realize P2P peer-to-peer, microgrid power trading or energy trading services. For example, during the renovation of the old city in Brooklyn, photovoltaic solar panels were added to the roofs of houses to generate electricity. The electricity generated is not sold to power energy companies, but is made into a microgrid in the community and then traded through virtual currency.
This model can be further expanded, and the solar energy produced on the roof can be further used as a distributed charging pile, and then the internal household electricity, security electricity, smart door locks, etc. can be uploaded to this blockchain. Provide overall shared services.
9. What are the core blockchain technologies of blockchain technology?
What is the hottest Internet topic at the moment? You don’t need to explain it to the editor to know that it is the blockchain technology. Blockchain technology, but many friends have only heard of this technology and do not have much in-depth understanding of it. So what are the blockchain technologies? Below we will bring you an introduction to the core technology of blockchain for your reference.
What are the core elements of blockchain technology?
Blockchain technology can be a public ledger (visible by anyone) or a permissioned network (visible only by those authorized), which solves supply chain challenges , because it is an immutable record that is shared among network participants and updated in real time.
Blockchain technology----data layer: designing the data structure of the ledger
Core technology 1. Block + chain:
Technically speaking, block is a data structure that records transactions. Reflects the flow of funds for a transaction. The blocks of transactions that have been reached in the system are connected together to form a main chain, and all nodes participating in the calculation record the main chain or part of the main chain.
Each block consists of a block header and a block body. The block body is only responsible for recording all transaction information in the previous period, mainly including the number of transactions and transaction details; the block header encapsulates the current version number, previous A block address, timestamp (recording the time when the block was generated, accurate to the second), random number (recording the value of decrypting the answer to the math question related to the block), the target hash value of the current block, and the Merkle number Root value and other information. From a structural point of view, most functions of the blockchain are implemented by the block header.
Core technology 2. Hash function:
The hash function can convert data of any length into a set of fixed-length codes through the Hash algorithm. The principle is based on a cryptographic one-way hash function. This kind of function is easy to verify, but difficult to crack. Usually, the industry uses y=hash(x) to represent it. This hash function implements operations on x to calculate a hash value y.
Commonly used hash algorithms include MD5, SHA-1, SHA-256, SHA-384 and SHA-512, etc. Taking the SHA256 algorithm as an example, inputting any string of data into SHA256 will result in a 256-bit Hash value (hash value).column value). Its characteristics: the same data input will get the same result. As long as the input data changes slightly (for example, a 1 becomes a 0), a completely different result will be obtained, and the result cannot be predicted in advance. Forward calculation (calculating the corresponding Hash value from the data) is very easy. Reverse calculation (cracking) is extremely difficult and is considered impossible under current technological conditions.
Core technology 3. Merkle tree:
Merkle tree is a hash binary tree, which can be used to quickly verify the integrity of large-scale data. In the blockchain network, the Merkle tree is used to summarize all transaction information in a block, and ultimately generates a unified hash value of all transaction information in the block. Any change in transaction information in the block will cause Merkle tree changes.
Core technology 4. Asymmetric encryption algorithm:
Asymmetric encryption algorithm is a key secret method that requires two keys: public key and private key. The public key and the private key are a pair. If the public key is used to encrypt data, only the corresponding private key can be used to decrypt it, thereby obtaining the corresponding data value; if the private key is used to sign the data, then only the corresponding public key can be used to sign the data. In order to verify the signature, the sender of the verification information is the holder of the private key.
Because encryption and decryption use two different keys, this algorithm is called an asymmetric encryption algorithm, while symmetric encryption uses the same key in the encryption and decryption processes.
Blockchain technology----network layer: realize the decentralization of accounting nodes
Core technology 5. P2P network:
P2P network (peer-to-peer network), also known as point-to-point technology, is no Central server, Internet system that relies on user groups to exchange information. Unlike a centralized network system with a central server, each client in a peer-to-peer network acts as both a node and a server. Domestic Xunlei software uses P2P technology. The P2P network has the characteristics of decentralization and robustness.
Blockchain technology----Consensus layer: allocate the task load of accounting nodes
Core technology 6. Consensus mechanism:
Consensus mechanism is how to reach consensus among all accounting nodes to identify The validity of a record is both a means of identification and a means of preventing tampering. There are currently four main types of consensus mechanisms: PoW, PoS, DPoS and distributed consensus algorithms.
PoW (Proof of Work, proof of work): PoW mechanism, which is like Bitcoin’s mining mechanism, miners package existing transactions that have not been recorded by the network into a block, and then continue to traverse and try to find a random number , so that the hash value of the new block plus the random number meets certain difficulty conditions. Finding a random number that meets the conditions is equivalent to determining the latest block of the blockchain, and is also equivalent to obtaining the current round of accounting rights of the blockchain. The miners broadcast the block that meets the mining difficulty conditions in the Yuanfu network, and other nodes in the entire network verify that the block meets the mining difficulty conditions, and the transaction data in the block meetsAfter the protocol is standardized, each will link the block to its own version of the blockchain, thereby forming a consensus on the current network status in the entire network.
PoS (ProofofStake, Proof of Stake): PoS mechanism requires nodes to provide proof of a certain number of tokens to obtain a distributed consensus mechanism for competing for blockchain accounting rights. If you rely solely on the token balance to determine the bookkeeper, you will inevitably make the rich win, which will lead to the centralization of bookkeeping rights and reduce the fairness of the consensus. Therefore, different PoS mechanisms use different methods to increase the amount of money based on the proof of equity. The randomness of accounting rights avoids centralization. For example, in the PeerCoin PoS mechanism, the Bitcoin with the longest chain age has a greater chance of obtaining accounting rights. NXT and Blackcoin use a formula to predict the next accounting node. The more tokens you own, the greater the probability of being selected as an accounting node. In the future, Ethereum will also switch from the current PoW mechanism to a PoS mechanism. Judging from the information currently available, Ethereum's PoS mechanism will use nodes to place bets on the next block. The winner of the bet will receive an additional Ethereum currency award. Those who do not win will be deducted Ether coins to reach consensus on the next block.
DPoS (DelegatedProof-Of-Stake, share authorization certificate): DPoS is easy to understand and is similar to the modern corporate board of directors system. The DPoS mechanism adopted by BitShares is that shareholders vote to select a certain number of witnesses. Each witness has two seconds of authority to generate blocks in order. If the witness cannot generate a block within the given time slice, The block generation authority is given to the witness corresponding to the next time slice. Shareholders can replace these witnesses at any time by voting. This design of DPoS makes the generation of blocks faster and more energy-saving.
Distributed Consistency Algorithm: Distributed Consistency Algorithm is based on traditional distributed consistency technology. Among them are Byzantine fault-tolerant algorithms that solve the Byzantine Generals problem, such as PBFT (Byzantine fault-tolerant algorithm). In addition, distributed consensus algorithms (Pasox, Raft) that solve non-Byzantine problems are not explained in this article. This type of algorithm is currently a commonly used consensus mechanism in alliance chain and private chain scenarios.
Taken together, POW is suitable for public chains. If you build a private chain, it is more suitable to use POS because there is no trust problem in verification nodes; and because there are untrustworthy local nodes in the alliance chain, it is more suitable to use DPOS.
Blockchain technology----Incentive layer: Develop a "salary system" for accounting nodes
Core technology 7. Issuance mechanism and incentive mechanism:
Take Bitcoin as an example. Bitcoins are initially rewarded by the system to miners who create new blocks, and this reward is halved approximately every four years. At the beginning, miners were rewarded with 50 Bitcoins for each new block recorded, and this reward is halved approximately every four years. By analogy, by around AD 2140, newly created blocks will no longer receive rewards from the system. By then, the total number of Bitcoins will be approximately 21 million, which meansIt is the total amount of Bitcoin, so it will not increase indefinitely.
Another source of incentives is transaction fees. When there are no system rewards for newly created blocks, the miners' income will change from system rewards to transaction fees. For example, when you transfer, you can specify 1% of it as a handling fee to be paid to the miner who records the block. If the output value of a transaction is less than the input value, the difference is the transaction fee, which will be added to the incentive for that block. As long as a given amount of electronic currency has entered circulation, the incentive mechanism can gradually be converted to rely entirely on transaction fees, so there is no need to issue new currency.
Blockchain technology----Contract layer: giving the ledger programmable features
Core technology 8. Smart contract:
Smart contract is a set of programmed rules and logic that respond to scenarios. Implemented by decentralized, trusted shared script code deployed on the blockchain. Normally, after the smart contract is signed by all parties, it is attached to the blockchain data in the form of program code, and is recorded in a specific block of the blockchain after being propagated through the P2P network and verified by nodes. Smart contracts encapsulate a number of predefined states and transition rules, scenarios that trigger contract execution, response actions under specific scenarios, etc. The blockchain can monitor the status of smart contracts in real time, and activate and execute the contract by checking external data sources and confirming that specific trigger conditions are met.
The above is what blockchain technologies the editor has brought to you? All content introduced to the core technology of blockchain.
