The most essential feature of blockchain

①What is the essence of blockchain

Blockchain is essentially a decentralized distributed database, which is distributed data storage, multi-center point-to-point transmission, consensus mechanism and encryption Innovative application models of algorithms and other technologies in the Internet era.
In layman’s terms, blockchain can be compared to a “ledger”. The traditional ledger is “centralized bookkeeping” by one party, but this new “ledger” can be participated and shared by multiple parties on the Internet, and all participating parties can “bookkeeping” and backup, and each backup is a “block”. Each “block” is linearly connected to the next “block” in chronological order, and its structural features make the records impossible to tamper and forge.
For example, if you are the one who keeps the accounts in your family, and your parents give you your salary and let you write it down in the account book, at this time, since you are the only person keeping the accounts, you secretly spend more than ten yuan, Maybe they won’t know, but now it’s your mom and dad who keep the accounts together with you. Then, whether it’s your dad who wants to buy cigarettes secretly, or you who want pocket money, your every move is clearly on the ledger.

②What is the essence of blockchain technology

The essence of blockchain is a decentralized distributed ledger. Every transaction is recorded on this ledger, and each participating node has one copy to prevent the ledger from being tampered with, and it can exist forever without data loss due to a single node failure (such as a bank’s centralized server).
It ensures the authenticity of data by establishing a consensus mechanism and establishes trust between nodes that do not know each other. All participating nodes cooperate to maintain the healthy growth of the system.
In order to stimulate the enthusiasm of the participants, the first application of the blockchain – Bitcoin was created.

③ What are the basic characteristics of the blockchain

Features:

Decentralization. Blockchain technology does not rely on additional third-party management agencies or hardware facilities, and there is no central control. Except for the self-contained blockchain itself, through distributed accounting and storage, each node realizes information self-verification, transmission and management. Decentralization is the most prominent and essential feature of blockchain.

Openness. The foundation of blockchain technology is open source. In addition to the encrypted private information of transaction parties, blockchain data is open to everyone. Anyone can query blockchain data and develop related applications through public interfaces. System information is highly transparent.

Independence. Based on consensus specifications and protocols (similar to various mathematical algorithms such as the hash algorithm adopted by Bitcoin), the entire blockchain system does not rely on other third parties, and all nodes can automatically and securely verify and exchange data within the system without the need for any human intervention.

Security. As long as 51% of all data nodes cannot be controlled, it is impossible to arbitrarily manipulate and modify network data, which makes the blockchain itself relatively safe and avoids subjective and artificial data changes.

Anonymity. Unless required by legal regulations, technically speaking, the identity information of each block node does not need to be disclosed or verified, and information transmission can be carried out anonymously.

(3) Extended reading of the most essential features of blockchain:

Examples

The biggest application of blockchain technology is The invention of digital currencies, such as Bitcoin. Because the essence of the payment is to “add the amount reduced in account A to account B”.

If people have a public ledger that records all transactions to date for all accounts, then for any account, people can calculate the amount of money it currently has. The blockchain is precisely the public ledger used for this purpose, which keeps all transaction records. In the Bitcoin system, a Bitcoin address is equivalent to an account, and the number of Bitcoins is equivalent to an amount.

④Basic characteristics of blockchain

Blockchain has the characteristics of decentralization, non-tampering, irreversibility, and anonymity.
Decentralization: Because the entire network has no central ruler. The system relies on the fairness constraints of multiple participants on the network, so the rights and obligations of any node are equal, and each node will store all the data on the blockchain. Even if the node is damaged or attacked, there is still no threat to the ledger.
Immutable: Ensure that information or contracts cannot be forged. If the account book is in the hands of a certain person or a few people, the possibility of forgery is very high, but everyone has an account book in their hands. Unless more than 51% of the people in the whole game change an account, any tampering is Ineffective, this is also the superiority of collective maintenance and supervision.
Irreversible: The information on the blockchain must be irreversible and cannot be destroyed at will. The system is open source, and the entire system must be open and transparent. Therefore, after a transaction is broadcast on the entire network, it will be successfully recorded when it reaches more than 6 confirmations.�� and irreversible and irrevocable. Note: imToken is 12 block confirmations.
Anonymity: The identity information of each block node does not need to be announced or verified, and information transmission can be carried out anonymously. A simple example is that you initiate a transaction to a wallet address on the blockchain, but you cannot know the exact person behind the address, or your private key has been stolen by a hacker and cannot be obtained from a wallet. The wallet address knows who the hacker is.

⑤ What are the characteristics of blockchain

Blockchain is essentially a decentralized database, it is a cryptographically guaranteed untamperable and unforgeable distributed ledger. The main features of the blockchain are: security: not attacked by any person or entity; no information can be tampered with; traceable, accessible to all nodes in the network; decentralization, no third party. Crypto Finance mimacaijing focuses on blockchain information.

⑥ What is the essence of blockchain

Blockchain technology refers to a way for the whole people to participate in bookkeeping. Anyone can check the book, not one person Control and modify the ledger All systems have a database behind them, and you can think of the database as a big ledger.
【Legal Basis】
Article 12 of the “Company Law of the People’s Republic of China” The business scope of a company is stipulated by the company’s articles of association and registered in accordance with the law. A company may revise its articles of association and change its business scope, but it shall go through the registration of changes. Items in the company’s business scope that are subject to approval as stipulated by laws and administrative regulations shall be approved in accordance with the law.

⑦ Continuing education: the most fundamental feature of the blockchain network

The most fundamental feature of the blockchain network is that the core idea of ​​the blockchain is decentralization, and the blockchain is the largest The subversiveness of the blockchain lies in the establishment of credit, and the collective maintenance of the blockchain can reduce costs. Public Blockchain Networks A public blockchain is a blockchain that anyone can join and participate in, such as Bitcoin. Disadvantages may include the large amount of computing power required, little or no privacy of transactions, and weaker security.
1. Blockchain is a series of transaction records that connect and protect content through cryptography. It is a new application mode of computer technology such as distributed data storage, point-to-point transmission, consensus mechanism, and encryption algorithm. As an important concept of Bitcoin, blockchain is essentially a decentralized database. At the same time, as the underlying technology of Bitcoin, it is a series of data associated with cryptographic methods.

⑧ What are the characteristics of blockchain

Blockchain has the following characteristics:
Decentralization. Blockchain technology does not rely on additional third-party management agencies or hardware facilities, and there is no central control. Except for the self-contained blockchain itself, through distributed accounting and storage, each node realizes information self-verification, transmission and management. Decentralization is the most prominent and essential feature of blockchain.

Openness. The foundation of blockchain technology is open source. In addition to the encrypted private information of transaction parties, blockchain data is open to everyone. Anyone can query blockchain data and develop related applications through public interfaces. System information is highly transparent.

Independence. Based on consensus specifications and protocols (similar to various mathematical algorithms such as the hash algorithm adopted by Bitcoin), the entire blockchain system does not rely on other third parties, and all nodes can automatically and securely verify and exchange data within the system without the need for Any human intervention

⑨ What are the characteristics of the blockchain

1. Openness, consensus, anyone can participate in the blockchain network, and every device can act as a For a node, each node is allowed to obtain a complete copy of the database. Based on a consensus mechanism, the nodes jointly maintain the entire blockchain through competitive computing.
2. Decentralization and trustless mechanism, the blockchain is composed of many nodes to form a peer-to-peer network. There is no centralized equipment and management organization. The data interaction between nodes is verified by digital signature technology. Trust is required, just follow the set rules, there is no problem of deception and distrust between nodes.
3. The transaction is transparent, the two parties are anonymous, the operating rules of the blockchain are open and transparent, all data information is also open, and each transaction is publicly visible to all nodes. Since the nodes are trustless, Therefore, nodes do not need to disclose their identities, and each participating node is anonymous.
4. Untamperable, traceable, the modification of the database by a single node or even multiple nodes cannot affect the database of other nodes, each transaction in the blockchain is cryptographically linked to two adjacent two Blocks are concatenated, so all records of each transaction can be traced back.

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