What does it mean to blockchain

(1) What does blockchain mean

Blockchain is an important concept of Bitcoin. It is essentially a decentralized database and serves as the underlying technology of Bitcoin. , is a series of data blocks associated with cryptographic methods. Each 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.

(ii) What is the blockchain and how to evaluate the blockchain

First of all, don’t think too much about the blockchain, it is a database that is distributed all over the world and can work together The storage system is different from the traditional database operation – the read and write permissions are in the hands of a company or a centralized power (centralized feature). The blockchain believes that anyone who has the ability to set up server nodes can participate in it. Gold diggers from all over the world have deployed their own nodes locally and connected to the blockchain network to become a node in this distributed database storage system; once joined, the node has exactly the same rights as all other nodes and obligations (decentralized, distributed features). At the same time, for those who carry out services on the blockchain, they can read and write operations to any node in the system, and finally all nodes in the world will be synchronized again and again according to a certain mechanism, so as to achieve The data of all nodes in the blockchain network is completely consistent.

Blockchain itself is a kind of technology, therefore, it cannot be a scam itself, just like the “p2p” finance that has become popular in recent years, how many scammers are wearing the concept of P2P and illegally absorb Public funds, defrauding the hard-earned money of the common people? But is “P2P” guilty? It is just a personal-to-personal model of Internet finance. It not only creates profits, but also lifts thousands of people out of poverty, making it a win-win for both the poor and the poor. The existence of the problems of the digital currency trading platform

can not hinder the development of the blockchain. The proposal and in-depth research of technologies such as simple payment verification, sidechains, and lightning network protocols are already a block The chain really solves the problem.

㈢ What does blockchain technology mean

Blockchain technology is the use of blockchain data structure to verify and store data, using distributed nodes Consensus algorithm to generate and update data, use cryptography to ensure the security of data transmission and access, and use smart contracts composed of automated script codes to program and manipulate data. A brand-new distributed infrastructure and computing paradigm. The distributed ledger connected by blockchain technology allows two parties to effectively record the transaction, and the transaction can be checked permanently.
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The fundamentals of blockchain are not difficult to understand. The basic concepts include:
Transaction: an operation that results in a change in the state of the ledger, such as adding a record;
Block: records the transactions and status results that occurred within a period of time, which is the current A consensus on the state of the ledger;
Chain: It is formed by concatenating blocks in the order in which they occur, and is a log record of the entire state change.
If the blockchain is used as a state machine, each transaction is an attempt to change the state, and the block generated by each consensus is the confirmation of the results of the state change caused by all transactions in the block.
Explain in popular words: If we assume the database to be a ledger, reading and writing the database can be regarded as an act of bookkeeping. The principle of blockchain technology is to find the fastest and best bookkeeping within a period of time. This person will keep the account, and then send this page of the account book to everyone else in the entire system.
This is equivalent to changing all the records in the database and sending them to every other node in the whole network, so the blockchain technology is also called distributed ledger.
Currently, there are two main modes of blockchain application:
1) Native blockchain application: directly based on decentralized blockchain technology, to realize applications such as value transfer and transaction, such as digital Currency;
2) “Blockchain+” mode: combine traditional scenarios with the underlying protocol of the blockchain to improve efficiency and reduce costs. It is expected that the application of blockchain in various industries will be dominated by the second mode.
Blockchain has five core attributes, namely: transaction attribute (value attribute), certificate attribute, trust attribute, intelligent attribute, and traceability attribute. The above core attributes are combined with the needs of the industry to solve the pain points of the industry and become the business model for the application of blockchain in various industries.
As a basic technology, blockchain has great application value in many industries that require distributed processing, point-to-point transactions, and rapid establishment of trust relationships. Its core is to solve the problem of credit and realize the Point-to-point passing of values. �This is considered to be the cornerstone of the Internet of Value in the future.
The core of the blockchain business model is to use the innovative attributes introduced by the blockchain to combine with traditional industry applications to realize the reconstruction of business logic in order to create new application scenarios, or to improve efficiency and reduce costs.

㈣ What does blockchain mean? In plain language, thank you

Simply put, blockchain is a decentralized distributed ledger database. Decentralization, that is, different from the traditional centralized method, there is no center, or everyone is a center; distributed ledger database means that the recording method is not only to store the ledger data in each node, but also each node. Data that replicates the entire ledger will be shared synchronously. At the same time, the blockchain also has the characteristics of disintermediation and information transparency.

Extension information:

The so-called blockchain technology, referred to as BT (Blockchain technology), also known as distributed ledger technology, is a kind of Internet database technology, which is characterized by decentralization, openness and transparency, allows everyone to participate in database records.

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 paradigm that uses smart contracts composed of automated script code to program and manipulate data.

Recently, the blockchain is very popular, and it just became popular again at the National People’s Congress. The reason for this is that the blockchain is not only a brand-new technical solution, transaction model and business logic, but also a brand-new institutional mechanism. The “Internet celebrity effect” of the blockchain has just begun.

㈤ What does blockchain mean and how to understand it

Blockchain, distributed data storage, point-to-point transmission, consensus mechanism, encryption algorithm and other computers New application model of technology.

Blockchain, an important concept of Bitcoin, is essentially a decentralized database. At the same time, as the underlying technology of Bitcoin, it is a series of cryptographic methods associated with Each 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.

Notes

1. Blockchain Originated from Bitcoin, on November 1, 2008, a self-proclaimed Satoshi Nakamoto published the article “Bitcoin: A Peer-to-Peer Electronic Cash System”, which elaborated on P2P network technology, encryption technology, The architectural concept of electronic cash system such as timestamp technology and blockchain technology, which marks the birth of Bitcoin.

Two months later, the theory entered into practice, and the first genesis block with serial number 0 was born on January 3, 2009. A few days later, on January 9, 2009, a block with serial number 1 appeared and was connected with the genesis block with serial number 0 to form a chain, marking the birth of the blockchain.

2. In order to realize the great leap-forward development of blockchain finance, in order to promote the new development of China’s economy, accelerate the circulation of global assets, and realize the dream of rejuvenation that generations have been fighting for, Puyin Group established in December 2016 On the 9th, the Puyin Blockchain Finance Guiyang Strategy Release Ceremony will be held in Guizhou. At the meeting, the blockchain will realize the digital circulation of assets, the blockchain financial transaction model, and the application of blockchain services and social public industries. Explore.

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