Correctly open the blockchain gate blockchain to usher in the carnival

Open blockchain gate

Since Zhong Bencong published a paper in 2008 that described the Bitcoin model, the heat wave of Bitcoin has successfully attracted the attention of people from all walks of life. The rise of Bitcoin in the past few years has been like surfing, and it has been ups and downs.

Bitcoin is not a real currency, but a virtual currency. Having a bitcoin is equivalent to having a document. This document records a bunch of keys. When you buy a product, you only need to send the key. To the seller, a transaction was completed. It is worth noting that the key that the seller actually receives is not the same as the one you sent, which ensures that the bitcoin belongs to this seller and does not belong to you.

Bitcoin has been running stably for many years without any institutional monitoring, relying on its underlying technology, blockchain technology. Some people may think that the blockchain is generated along with the generation of bitcoin. It is an adjunct to Bitcoin. Without bitcoin, the blockchain has no value and can't play any role. But this is not the case. From a certain point of view, Bitcoin is just the first application of the blockchain, and the blockchain is more similar to the underlying technology such as TCP/IP, and will be expanded to more and more. In the industry.

What is the blockchain technology?

The concept first appeared in Nakamoto's white paper, and the first block held by Nakamoto was called the “Creation Block”. It is the underlying technology of Bitcoin, like a database ledger, which records all transaction records on the basis of decentralization and trust.

We regard the blockchain as a public ledger, and it is very important to be responsible for accounting. In fact, it is not a designated person or institution that accounts for it. Everyone in the system has the opportunity to participate in bookkeeping. In a certain period of time, if a certain data changes, everyone in the system can participate in the bookkeeping. Finally, the system will judge the person who has the best and most efficient quality of the book during this time, and then record it. The content is updated into the blockchain book, and the contents of the book are sent to everyone in the system for backup at the same time so that everyone in the system has a complete ledger. The way to complete the book transaction update in this way is the blockchain technology.

What kind of sweetness can the blockchain technology that can be called the bookkeeping of the whole people bring?

The human trust model is changing, from the beginning of the acquaintance of acquaintances to the era of intermediary trust dominated by authoritative institutions. The blockchain does not belong to any kind of trust model, and it will open a new era - the era of digital trust.

The blockchain solves the problem of third-party trust. In the past, due to the issue of trust, it is difficult for both parties to the transaction to reach an agreement and must rely on a third party. For example, when you are making a shopping transaction, you need a third-party trust institution such as Alipay or a bank. However, through blockchain technology, transactions can be completed without the existence of “small three”.

For example, Bitcoin is a mutual transfer that can be mutually trusted without any intermediary involvement, and has been running stably for many years. In addition, the blockchain ledger is also extremely secure. It is not a private object of a person or institution. Every node in the system has the same rights and has the same book, even if some nodes are destroyed. It affects the system, so there is no risk that the books will be destroyed and the transaction records will not be found. In addition, blockchain books cannot be modified and can't be cheated. Each node has a complete ledger. If it needs to be changed, it will not change the transaction content on the original ledger, but will re-record, even if you are one of them. It is useless to make changes to the ledger because other nodes will not recognize the record. The absence of a third-party organization can also reduce the cost of the transaction process and effectively improve transaction efficiency.

Blockchain ushers in the carnival

At present, the blockchain technology can be said to be everywhere, but it has not yet been known to the public. To a certain extent, it may be because the blockchain lacks killer applications. So far, the biggest application is Bitcoin itself, and another killer app is crowdfunding based on Ethereum smart contracts. In addition, the recent hot "encrypted cat" is likely to be the third killer application of the blockchain.