Newer technology than blockchain

A. What kind of technology is blockchain technology?

Blockchain is a new application of computer technology such as distributed data storage, point-to-point transmission, consensus mechanism, and encryption algorithm model. The so-called consensus mechanism is a mathematical algorithm that realizes the establishment of trust between different nodes and the acquisition of rights and interests in the blockchain system.
Blockchain is the underlying technology of Bitcoin, like a database ledger that records all transaction records. This technology has gradually attracted the attention of the banking and financial industry due to its safe and convenient features.
In April 2018, a group of academics from Oxford University announced the establishment of the world’s first blockchain university, Woolf University.
In a narrow sense, blockchain is a chained data structure that combines data blocks in sequential order according to time sequence, and is cryptographically guaranteed to be untamperable and unforgeable distribution. ledger.
In a broad sense, blockchain technology is the use of blockchain data structures to verify and store data, use distributed node consensus algorithms to generate and update data, and use cryptography to ensure the security of data transmission and access. A new distributed infrastructure and computing method that uses smart contracts composed of automated script code to program and manipulate data.

B. How to use blockchain technology to upgrade traditional business

2345 blockchain project official website, use blockchain technology to reshape the system, and launch the “Planet Alliance” plan , released hardware products – Octopus Planet. Based on the “decentralization” feature of the blockchain, the Planet Alliance can reconstruct the mutual trust mechanism to help the company revitalize the value of user traffic.

C. What is blockchain technology? What exactly is blockchain and what is blockchain? A chained data structure combined in a sequential manner, and a cryptographically guaranteed immutable and unforgeable distributed ledger.

In a broad sense, blockchain technology is the use of blockchain data structures to verify and store data, the use of distributed node consensus algorithms to generate and update data, and the use of cryptography to ensure data transmission and access. A new distributed infrastructure and computing method that uses smart contracts composed of automated script code to program and manipulate data.

[Infrastructure]

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

Extension information:

[Blockchain core technology]

Blockchain mainly solves the problem of trust and security of transactions, so it proposes to solve this problem Four technological innovations have been made:

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

The uniqueness of the distributed storage of the blockchain is mainly reflected in two aspects: First, each node of the blockchain stores complete data according to the blockchain structure. Data is divided into multiple copies according to certain rules for storage. Second, the storage of each node in the blockchain is independent and has the same status, and relies on the consensus mechanism to ensure the consistency of storage, while traditional distributed storage generally synchronizes data to other backup nodes through the central node.

No node can record the ledger data alone, thus avoiding the possibility of a single bookkeeper being controlled or bribed to keep false accounts. Also because there are enough accounting nodes, in theory, unless all nodes are destroyed, the account will not be lost, thus ensuring the security of the account data.

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

3. The consensus mechanism is that all records�� How to reach a consensus between nodes to determine the validity of a record is both a means of identification and a means of preventing tampering. The blockchain proposes four different consensus mechanisms, which are suitable for different application scenarios and strike a balance between efficiency and security.

The consensus mechanism of blockchain has the characteristics of “minority obeys the majority” and “everyone is equal”. “Minority obeys the majority” does not completely refer to the number of nodes, but also the computing power and the number of shares. Or other feature quantities that can be compared by computers. “Everyone is equal” means that when a node meets the conditions, all nodes have the right to give priority to the consensus result, which may become the final consensus result after being directly recognized by other nodes.

4. Smart contracts, smart contracts are based on these credible data that cannot be tampered with, and can automatically execute some pre-defined rules and terms. Taking insurance as an example, if everyone’s information (including medical information and risk occurrence information) is true and credible, then it is easy to automate claims settlement in some standardized insurance products.

In the day-to-day business of insurance companies, although transactions are not as frequent as in the banking and securities industries, the reliance on trusted data continues unabated. Therefore, the author believes that the use of blockchain technology, from the perspective of data management, can effectively help insurance companies improve their risk management capabilities. Specifically, it is mainly divided into the risk management of policyholders and the risk supervision of insurance companies.

Blockchain-Network

D. I want to know the difference between blockchain technology and artificial intelligence. It seems that they both claim to be the next era. Who is more important? Brilliant

Blockchain and artificial intelligence are both the next era.

There can be a good combination between the two.

Blockchain is a new application mode of computer technology such as distributed data storage, point-to-point transmission, consensus mechanism, and encryption algorithm. Blockchain (Blockchain) is an important concept of Bitcoin. It is essentially a decentralized database. At the same time, as the underlying technology of Bitcoin, it is a series of data blocks generated using cryptographic methods. The data block contains a batch of Bitcoin network transaction information, which is used to verify the validity of its information (anti-counterfeiting) and generate the next block.

Artificial Intelligence, the English abbreviation is AI. It is a new technical science that studies and develops theories, methods, techniques and application systems for simulating, extending and expanding human intelligence.

Artificial intelligence is a branch of computer science that attempts to understand the nature of intelligence and to produce a new type of intelligent machine that responds in a manner similar to human intelligence. Research in this area includes robotics , language recognition, image recognition, natural language processing and expert systems. Since the birth of artificial intelligence, the theory and technology have become more and more mature, and the application field has also continued to expand. It is conceivable that the technological products brought by artificial intelligence in the future will be the “container” of human intelligence. Artificial intelligence can simulate the information process of human consciousness and thinking. Artificial intelligence is not human intelligence, but it can think like human beings and may surpass human intelligence.

Blockchain technology can be divided into three versions at this stage.

At present, in the first three versions, there are problems that cannot truly achieve decentralization, low scalability, incentives for block producers and the best income for the entire network. Mismatch, the network always runs at maximum capacity, like Bitcoin and Ethereum, affects efficiency.

Velas combines the two to develop a public chain that can learn and progress by itself.

Velas enhances its consensus algorithm through artificial intelligence (AI)-optimized neural networks, a self-learning and self-optimizing public chain, and is committed to improving the security, interoperability, and highly scalable. Velas uses an AI-enhanced DPoS consensus that is fully decentralized without sacrificing security and transaction speed.

Technically, Velas has integrated functions and services such as cross-chain payment, multi-signature wallets that support multiple currencies, and anonymous transfers. Its ecosystem focuses on exchanges, multi-signature wallets, Merchant platform and other application scenarios covering transactions and payments, and after AI is fully integrated into the system, transfer fees can be completely exempted in the end.

And, fully decentralised through AI-enhanced DPoS (AIDPoS)>AI chooses who stakes tokens according to the needs of the blockchain>Velas only produces blocks when needed > Scalability (scalable to 30,000 TPS) > Block producers are selected by human intuition.

E. Which one of blockchain technology and blockchain application is more worthy of our research and development

The so-called blockchain technology, referred to as BT (Blockchain technology) ),Also known as distributed ledger technology, it is an Internet database technology that is characterized by decentralization, openness and transparency, allowing everyone to participate in database records.

Blockchain applications:

1. Financial sector: mainly to reduce transaction costs and reduce cross-organizational transaction risks. Blockchain applications in this field will mature the fastest, and banks and financial trading institutions will be the main drivers.

Financial blockchain

Since the beginning of human society, financial transactions have been an essential economic activity. Differences in transaction roles and content reflect different production relations. Through transactions, the efficiency of society can be optimized and value can be maximized. The development of human society is inseparable from the evolution of transaction forms. It can be seen how important the status of trading is in human society. Transactions essentially exchange ownership of value. Now in order to complete the transaction (such as the ownership of houses and vehicles), some intermediate links are often needed, especially the role of intermediary guarantee. This is because there is often insufficient trust between the two parties to the transaction. It is not easy to prove the ownership of the value, and often the value of each other cannot be directly exchanged. Reasonable intermediary guarantees ensure the normal operation of transactions and improve the efficiency of economic activities. However, the existing third-party intermediary mechanisms often have shortcomings such as high cost, long time period, complex process, and error-prone. It is because of these that financial services have become one of the hottest application areas of the blockchain. Blockchain technology can provide effective and reliable proof of ownership and a strong intermediary guarantee mechanism for financial services. The areas involved in financial services include currency, securities, insurance, donations, etc.

2. Credit information and tenure management: This is the dream of large social platforms and insurance companies. At present, there are still insufficient data sources, reliable platform support and effective data analysis and management. The threshold for entrepreneurship in this field is extremely high and requires top-down promotion. Because anything that needs to deal with the government has never been easy to start right away.

Credit management is a huge potential market, which is said to exceed 100 billion (Ping An Securities report, Wells Fargo report), and it is also one of the most promising directions for big data applications at present . At present, a large amount of valid data related to credit reporting is mainly concentrated in the hands of a few institutions. Since these data are too sensitive and are the lifeblood of business, they are often tightly protected, thus forming a high industry threshold. Although a large number of Internet companies (the most successful one should be Facebook) have tried to obtain massive user information from various dimensions, from the perspective of credit reporting, there are still several problems with these data.

•Insufficient amount of data: The larger the amount of data, the higher the value that can be obtained, and there is a lower limit for the effective value of data. The amount of data below the lower limit cannot produce effective value;

• Poor relevance: the most core data is often the most sensitive. In today’s highly sensitive privacy, users do not want to expose too much data Insufficient timeliness: the user data that the enterprise can obtain from the public is often outdated, and even there is false information. The reliability of the correlation analysis caused serious interference.

The blockchain has the characteristics that it cannot be tampered with and cannot be denied. At the same time, blockchain will potentially provide highly relevant data on an unprecedented scale, which can be accurately located in time and space and strictly related to users. Therefore, providing data based on the blockchain for credit management will greatly improve the accuracy of credit evaluation and reduce the cost of evaluation. In addition, unlike the traditional review that relies on manual labor, blockchain technology completely relies on mathematical results, and the blockchain-based credit mechanism will naturally have stability and neutrality. Including IDG, Tencent, Ernst & Young, PricewaterhouseCoopers, etc. have all invested or entered the field of blockchain-based credit management, especially in application scenarios related to insurance and mutual aid economy.

3. Resource sharing: companies represented by airbnb will welcome such applications and greatly reduce management costs. Entrepreneurial thresholds in this field are low and the themes are concentrated, which will be popular with investment.

In the era of big data, value comes from data mining. The more dimensions and volume of data, the higher the potential value. All along, the more vexing issues are how to assess the value of data, how to use data to exchange and trade, and how to prevent valuable data from being leaked without permission. Blockchain technology offers the potential to solve these problems. Using the unified ledger composed of blockchain, the flow of data between multiple parties will be tracked and managed in real time, and through the control of access rights, the management cost of the data sharing process can be effectively reducedBook.

4. Investment management: Whether public or private funds, blockchain technology can be applied to reduce management costs and control risks. Although there are test waters such as DAO, it is cautious that the demand in this field is not yet mature. However, Xiao Yao has found that China’s major startups are beginning to test the waters in this field, hoping for a major breakthrough.

In international trade activities, buyers and sellers may not trust each other. Therefore, two banks are needed as guarantors for both buyers and sellers, to pay bills on their behalf, and to replace commercial credit with bank credit. Blockchain can provide a common ledger for L/C transaction participants, allowing banks and other parties to have a confirmed record of common transactions and perform their contracts accordingly, reducing risk and cost. Crowdfunding management represented by DAO (Decentralized Autonomous Organization), DAO has set a record of the highest financing in history, exceeding 160 million US dollars.

5. The Internet of Things and Supply Chain: The Internet of Things is a very suitable field, and a large number of applications will appear in the short term, especially in specific scenarios such as leasing and logistics. However, the development limitations of the Internet of Things itself will make it difficult to achieve large-scale applications in the short term.

The supply chain industry often involves many entities, including logistics, capital flow, information flow, etc. There is a lot of complex collaboration and communication between these entities. Under the traditional model, different entities keep their own supply chain information, which seriously lacks transparency, resulting in high time and money costs, and it is difficult to trace and deal with problems (forgery, counterfeit goods, etc.). Through the blockchain, all parties can obtain a transparent and reliable unified information platform, which can check the status in real time, reduce logistics costs, and trace the entire process of production and delivery of items, thereby improving the efficiency of supply chain management. When disputes arise, it becomes clearer and easier to present evidence and trace. This field is considered to be a promising application direction of blockchain. IBM has been investing decades in research and development in the field of IoT, and is currently exploring the use of blockchain technology to reduce the cost of IoT applications.

Blockchain first has the technology before it can be applied, such as Huixin Cloud Platform: only with the platform first, the product manager can settle in the platform for a development, so the technology and application should be together progress.

The application of blockchain technology is different in the industry, and the functions and effects obtained are also different. Let’s take the credit system field as an example. Because the disclosure of personal information will cause huge harm to the information person, making it painful to be conservative and harassed. What is even more terrifying is the leakage of personal information, which is usually accompanied by the theft of tens of thousands of personal information, illegal trafficking, and even the use of regular data trading agencies to steal data.

With the rise of blockchain technology, the encryption of blockchain technology can provide solutions for the protection of personal information. Blockchain technology can store personal information in a distributed manner, avoiding the security risks faced by a single server.

And one of the most icebreakers in blockchain technology research, Jinwowo Network Technology has conducted in-depth research and application of blockchain technology. Jinwowo’s big data service with blockchain as the bottom layer can prevent illegal data reselling and re-establish data circulation rules from four aspects: data storage, data analysis, data tracking, and data security.

F. What is the future development prospect of blockchain technology?

The growth potential of the blockchain industry is five major aspects to promote the healthy development of technology. As a technical solution to collectively maintain a reliable database in a decentralized manner, technology has the characteristics of decentralization, tamper-proof, and high scalability. It is becoming another technology after big data, cloud computing, artificial intelligence, virtual reality and other technologies Emerging technologies that will have a significant impact on the future are expected to drive mankind from the information Internet era to the value Internet era. Some countries and regions in the United States, Japan and the European Union have raised the development of blockchain as an important national development strategy, and vigorously promoted the research and development and application of blockchain technology. my country also attaches great importance to blockchain technology innovation and industrial development. With the joint participation of IT and other enterprises, a large number of new enterprises, new products, new models and new applications have emerged. The application in various industries and other industries has gradually been launched, and it is becoming an important force driving technological product innovation and industrial transformation in various industries. The development of blockchain is divided into three stages, namely, the encrypted digital currency represented by Bitcoin and the blockchain 1.0 of related financial infrastructure applications, and the blockchain 2.0 represented by smart contracts. The blockchain 3.0 stage of the in-depth application of blockchain technology and more complex smart contracts. Statistical analysis of blockchain investment and financing in the first half of the year�Increase sharply. According to the statistics of the “In-depth Analysis Report on Business Model Innovation and Investment Opportunities in the Blockchain Industry” released by the Prospective Industry Research Institute, in the first half of 2018, the financing amount in the blockchain field was about 10.7 billion, a year-on-year growth rate of 1426 million over the same period in 2017. %; The number of investment and financing events in the blockchain field reached 205, and it is expected that the investment in the blockchain field will usher in another peak this year. From the perspective of the distribution of investment and financing rounds in China’s blockchain field, the initial investment rounds (before the B round) accounted for more than 95%, and many industry pioneers participated in the investment together, and most companies are still racing. From 2014 to the first half of 2018, the blockchain investment and financing statistics and growth data source: Qianzhan Industry Research Institute compiled the statistical analysis of the establishment of Chinese blockchain enterprises and registered capital. In 2013 and before, the blockchain registered in my country There are only 26 related enterprises. In 2016, there were 116 registered blockchain companies, 158 in 2017, and 52 from January to the end of June 2018. In terms of registered capital, there are 26 blockchain enterprises in my country with registered capital of less than 1 million yuan, accounting for about 6%; 197 enterprises with registered capital between 1 million yuan and 9.99 million yuan, accounting for about 46% %; There are 171 companies with registered capital between 10 million yuan and 100 million yuan, accounting for about 40%; 31 companies with more than 100 million yuan, accounting for about 7%. 2013-2018 January-June 2018 China’s blockchain enterprises established enterprises and registered capital statistics Data source: Qianzhan Industry Research Institute sorted out the geographical distribution of China’s blockchain enterprises and field statistics. Among the chain enterprises, there are 385 enterprises in Beijing, Shanghai, Guangdong, Zhejiang, Sichuan and Jiangsu, accounting for 90% of the total. Among them, Beijing has the largest number of enterprises, accounting for about 37% of the country. In terms of industry fields, my country’s blockchain enterprises are mainly distributed in the fields of finance, underlying public chains, enterprise services, technical solutions, data services, medical health, Internet of Things, transportation, and games. Among them, 91 companies are engaged in the financial field, accounting for more than 21%. China’s blockchain enterprise field distribution statistics Data source: Prospective Industry Research Institute organizes the development and application of blockchain technology that my country attaches great importance to. Driven by multiple forces such as policies, technologies, and markets, the pace of blockchain innovation has been accelerating, and it has been deeply integrated with technologies such as cloud computing, big data, and the Internet of Things. The scope of exploration and application has also shifted from digital assets to supply chain management, intelligent manufacturing, The industrial Internet, social welfare, copyright protection and other fields are extended and expanded. Five aspects to promote the healthy development of blockchain technology and promote the high-quality development of the digital economy 1. In-depth research and grasp of blockchain technology and industrial development trends. Pay close attention to the frontier trends of international development, jointly promote research on blockchain-related technologies and industries, promote the standardization of industry behaviors for blockchain development, and create a favorable development environment. 2. Strengthen the construction of core technology capabilities of blockchain. Establish and improve the collaborative promotion mechanism between key enterprises, colleges and universities, and research institutions, guide IT enterprises to strengthen technical reserves, accelerate breakthroughs in key core technologies, and improve blockchain performance, efficiency, and security. 3. Support entrepreneurship and innovation in the field of blockchain Encourage blockchain enterprises and user units to carry out cross-border integration, guide industry organizations to establish public service platforms, support third-party institutions to carry out blockchain service evaluation and testing, and promote the enrichment of blockchain. Industry applications, serving the transformation and upgrading of the real economy. 4. Actively build and improve the blockchain standard system, accelerate the development and application of key standards, and gradually build a perfect standard system. Actively connect with international standard organizations such as ITU and ISO, substantially participate in more international standardization work, and actively contribute more “Chinese power”. 5. Accelerate the improvement of the blockchain development policy environment to support qualified enterprises to carry out application innovation and model innovation, and guide and encourage enterprises, universities and research institutes to jointly cultivate professionals required for blockchain development. Support eligible blockchain enterprises to enjoy preferential tax policies for the development of the software industry and small and medium-sized enterprises. The industry scale is small but the growth potential is huge. The blockchain economy is currently on the eve of the outbreak. The financial industry has a relatively wide range of applications, and applications in other industries have also entered the stage of exploration and development. It is estimated that between 2017 and 2022, the direct market value of blockchain will grow from $410 million to $7.68 billion

G. What is the core technology of blockchain

First of all, we can look at Let’s take a look at the official website explanation of blockchain technology. In a narrow sense, blockchain is a chained data structure that combines data blocks in a sequential manner according to time sequence, and is cryptographically guaranteed to be an untamperable and unforgeable distributed ledger.
In a broad sense, blockchain technology is to use the blockchain data structure to verify and store data, use distributed node consensus algorithm to generate and update data, use cryptography to ensure the security of data transmission and access, Program and operate using smart contracts composed of automated script code�A new distributed infrastructure and computing paradigm for data.
As everyone may know, blockchain technology is an underlying framework that is independent from the Bitcoin system. From the perspective of the architectural model, it is a set of distributed ledgers. The so-called ledger is naturally used to record account.
In the blockchain technology, in order to generate accounting records, there must be the transaction and flow of funds. Therefore, in the initial blockchain technology, the cryptocurrency corresponding to its main network is used as a circulating item. , the circulation transaction records of cryptocurrencies in the various accounts of the blockchain main network will be recorded on the main network.
Different from other transaction record databases, the transaction records on the main network of blockchain technology will be recorded on all block nodes (that is, all data blocks) in the main network, which is The so-called decentralization principle, that is to say, in the blockchain technology, there is no central database to save all records, and each block on the chain has the transaction data of the whole chain, that is, each data block. , are the center.
Another feature of blockchain technology is that it cannot be tampered with, because every transaction on the blockchain will be recorded in all blocks on the chain, so no single data block can be changed. Records, even if you change, the real data is recorded in all other data blocks, and each set of data can be traced back to when it first appeared.
Because of these characteristics of blockchain technology, after the advent of Bitcoin, blockchain has also received a lot of attention, and many people have begun to want to use blockchain technology to make a centerless, traceable , data that does not change, so as to ensure the credibility of the data.
However, blockchain technology also faces many problems, such as single application scenario, original error data cannot be modified, and currency stolen by hackers cannot be recovered.

H. How to understand blockchain and blockchain technology

Blockchain technology uses mathematical methods to realize distributed accounting and solve the problem of trust, thus completing decentralization , will bring far-reaching influence in many fields such as communication, finance, Internet of things, government management and so on.
Blockchain (Blockchain) refers to a technical solution to collectively maintain a reliable database through decentralization and trustlessness, and is a technical way for the whole people to participate in bookkeeping. The previous bookkeeping methods were centralized and required a centralized intermediary, whether the intermediary was a traditional government, financial institution, notary institution or an emerging e-commerce platform or online payment platform.
In economics, information is sufficient. In fact, it is precisely because of insufficient information that there are very large intermediaries. The existence of intermediaries increases transaction costs and raises the transaction threshold. Blockchain technology is essentially a large-scale collaboration tool that enables direct value transfer for the first time in a purely technical way, and continues the trend of decentralization and disintermediation of the Internet. The de-intermediary blockchain technology will greatly subvert the information intermediary industry.
Blockchain technology is the basic technology for constructing Bitcoin data structure and encrypted transmission of transaction information, which realizes the issuance and transaction of Bitcoin. The core of blockchain technology is that all currently participating nodes jointly maintain transactions and databases, so that transactions are based on cryptographic principles rather than trust, so that any two parties who reach an agreement can directly conduct payment transactions without the participation of a third party.
Technically speaking, a block is a data structure that records transactions and reflects the flow of funds in a transaction. The blocks in the system that have reached transactions are connected together to form a main chain, and all nodes participating in the calculation record the main chain or a part of the main chain.
A block contains the following three parts: transaction information, the hash formed by the previous block, and a random number. The transaction information is the task data carried by the block, including the private keys of both parties, the number of transactions, the digital signature of the electronic currency, etc.; the hash formed by the previous block is used to connect the blocks to realize the past Transactions are arranged in order; random numbers are the core of transactions, all nodes compete to calculate the answer of random numbers, and the node that gets the answer the fastest generates a new block and broadcasts it to all nodes for update, thus completing a transaction.

I. What is the difference between blockchain and blockchain technology, and how does it relate to Bitcoin.

Blockchain is a concept. Blockchain technology is the technology that realizes the concept of blockchain, and it is also code. Bitcoin refers to the concept of blockchain and is developed with blockchain technology.

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