The concept of "blockchain" can be said to be extremely popular. It seems that no one talks about blockchain technology at the Internet Finance Summit. BAT and major banks and other financial institutions are starting their own blockchain research. Work, even IBM recently established its own blockchain research laboratory, but what exactly is a blockchain? Maybe you don’t know it, staying in the fog and looking at the flowers. Starting today, let us walk into the blockchain together and uncover the mystery of the blockchain!
Take the fast chain? You want to talk about the blockchain, right?
To make it clear about the blockchain, let's first tell a story.
You must have heard the story of three people becoming a tiger?
Suppose someone tells you, it’s not good, there is a tiger on the street, do you believe it?
Let me go, why don't you play your cards according to common sense, you have to say you don't believe it!
Come again! We are talking about real tigers!
Action!!!
Good! Very good! Actor-level performance!!!
Go on, at this time, let a bunch of people tell you this!
Let's change another scene.
What would you think if a respected and trusted old man told you this?
Yes, this is the so-called power of trust. You don’t trust an individual without sufficient credit,
But you will trust a bunch of individuals or individual individuals with sufficient credit.
In the real society, the bank is the individual (center) with sufficient credit.
However, the use of banks as credit intermediaries requires costs.
We, the general public, have to pay for this huge credit cost.
That's why the financial industry is the most profitable industry.
Want to remove the credit endorsements of central institutions such as banks?
Then you can use the "a bunch of individuals" we mentioned above, which is also the core of blockchain technology.
Blockchain is essentially a technical solution to solve the problem of trust and reduce the cost of trust.
The purpose is to decentralize and go to credit intermediaries.
Blockchain is the underlying technology of Bitcoin.
The concept of Bitcoin (BitCoin) was first proposed by Satoshi Nakamoto in 2009. You can understand it as a digital currency.
Let's take Bitcoin transactions as an example to see how the blockchain works.
1. Broadcast every transaction on the whole network. For the whole network to recognize it as valid, it must be broadcast to every node.
2. After receiving the transaction information, the miner node must take out the ledger to record the transaction.
Once recorded, it is irrevocable and cannot be destroyed at will.
The miner node confirms the transaction through the bitcoin software running on the computer.
In order to encourage miners’ services, for the transactions recorded and confirmed by them,
The system provides 25 bitcoins as a reward for miners. (This reward amount is set by the system to be halved every 4 years)
There is only one reward, so it depends on who records it.
In order to reduce this situation, the system will issue a ten-minute arithmetic problem,
Whoever can solve the value the fastest will get the right to record it and win the reward.
By the way, here I can show you an arithmetic problem that is said to be a kindergarten to primary school in Xuhui District.
Don't worry, you try it, I did it wrong the first time anyway.
..., well, I can't refute it.
Say far, let's talk about it again.
The algorithm used in the aforementioned blockchain is not a simple calculation problem, but a hash algorithm.
Hashing is a classic technique in cryptography, which can be used to verify whether anyone has tampered with the content of the data.
3. The miner who has obtained the right to keep accounts will broadcast the transaction to the entire network, the account books will be made public, and other miners will check and confirm these accounts. When the transaction reaches more than 6 confirmations, it is successfully recorded.
When the miner records, the transaction will be stamped with a time stamp to form a complete time chain.
4. When other miners confirm that the account book records are correct, the record is confirmed to be legal, and the miners enter the next round of battle for the right to keep accounts.
Each record of a miner is a block, which will be stamped with a timestamp, and each newly generated block will advance strictly in a timeline order.
An irreversible chain is formed, so it is called Blockchain.
Moreover, each block contains the hash value of the previous block, ensuring that the blocks are not tampered with while they are connected in chronological order.
At this time, we can understand the original definition of blockchain: a blockchain is a distributed database, a series of data blocks that are related using cryptographic methods, and each data block contains a network. Transaction information is used to verify the validity of the information and generate the next block.
If two people upload at the same time, although this probability is very small, if it happens, we will look at the last blockchain which is longer, and the shorter one will fail. This is the "double-spending problem" in the blockchain (the same amount of money is spent twice). For making false transactions, unless you convince more than 51% of the miners in the entire network to change a certain account, your tampering will be invalid.
The greater the number of participants in the network, the lower the possibility of fraud.
This is also the superiority of collective maintenance and supervision, which maximizes the cost of forgery.
Convincing 51% of artificial fakes is still very difficult.
Well, let's summarize, the blockchain mainly has the following core contents:
1. Decentralization
This is a subversive feature of the blockchain. There is no central organization or central server. All transactions occur in the client application installed on everyone's computer or mobile phone.
Realize point-to-point direct interaction, which not only saves resources, makes transactions autonomous and simplified, but also eliminates the risk of being controlled by a centralized agent.
2. Openness
Blockchain can be understood as a technical solution for public accounting. The system is completely open and transparent. The account books are open to everyone, data sharing is realized, and anyone can check the accounts. The opening effect is similar to this:
3. Irrevocable, non-tamperable and encrypted security
The blockchain adopts a one-way hash algorithm, and each newly generated block advances strictly in a time-line order. The irreversibility and irreversibility of time will cause any attempt to invade and tamper with the data in the blockchain to be easily traced, leading to The exclusion of other nodes makes the cost of fraud extremely high, which can limit related illegal acts.
The concept of "blockchain" can be said to be extremely popular. It seems that no one talks about blockchain technology at the Internet Finance Summit. BAT and major banks and other financial institutions are starting their own blockchain research. Work, even IBM recently established its own blockchain research laboratory, but what exactly is a blockchain? Maybe you don’t know it, staying in the fog and looking at the flowers. Starting today, let us walk into the blockchain together and uncover the mystery of the blockchain!
Take the fast chain? You want to talk about the blockchain, right?
To make it clear about the blockchain, let's first tell a story.
You must have heard the story of three people becoming a tiger?
Suppose someone tells you, it’s not good, there is a tiger on the street, do you believe it?
Let me go, why don't you play your cards according to common sense, you have to say you don't believe it!
Come again! We are talking about real tigers!
Action!!!
Good! Very good! Actor-level performance!!!
Go on, at this time, let a bunch of people tell you this!
Let's change another scene.
What would you think if a respected and trusted old man told you this?
Yes, this is the so-called power of trust. You don’t trust an individual without sufficient credit,
But you will trust a bunch of individuals or individual individuals with sufficient credit.
In the real society, the bank is the individual (center) with sufficient credit.
However, the use of banks as credit intermediaries requires costs.
We, the general public, have to pay for this huge credit cost.
That's why the financial industry is the most profitable industry.
Want to remove the credit endorsements of central institutions such as banks?
Then you can use the "a bunch of individuals" we mentioned above, which is also the core of blockchain technology.
Blockchain is essentially a technical solution to solve the problem of trust and reduce the cost of trust.
The purpose is to decentralize and go to credit intermediaries.
Blockchain is the underlying technology of Bitcoin.
The concept of Bitcoin (BitCoin) was first proposed by Satoshi Nakamoto in 2009. You can understand it as a digital currency.
Let's take Bitcoin transactions as an example to see how the blockchain works.
1. Broadcast every transaction on the whole network. For the whole network to recognize it as valid, it must be broadcast to every node.
2. After receiving the transaction information, the miner node must take out the ledger to record the transaction.
Once recorded, it is irrevocable and cannot be destroyed at will.
The miner node confirms the transaction through the bitcoin software running on the computer.
In order to encourage miners’ services, for the transactions recorded and confirmed by them,
The system provides 25 bitcoins as a reward for miners. (This reward amount is set by the system to be halved every 4 years)
There is only one reward, so it depends on who records it.
In order to reduce this situation, the system will issue a ten-minute arithmetic problem,
Whoever can solve the value the fastest will get the right to record it and win the reward.
By the way, here I can show you an arithmetic problem that is said to be a kindergarten to primary school in Xuhui District.
Don't worry, you try it, I did it wrong the first time anyway.
..., well, I can't refute it.
Say far, let's talk about it again.
The algorithm used in the aforementioned blockchain is not a simple calculation problem, but a hash algorithm.
Hashing is a classic technique in cryptography, which can be used to verify whether anyone has tampered with the content of the data.
3. The miner who has obtained the right to keep accounts will broadcast the transaction to the entire network, the account books will be made public, and other miners will check and confirm these accounts. When the transaction reaches more than 6 confirmations, it is successfully recorded.
When the miner records, the transaction will be stamped with a time stamp to form a complete time chain.
4. When other miners confirm that the account book records are correct, the record is confirmed to be legal, and the miners enter the next round of battle for the right to keep accounts.
Each record of a miner is a block, which will be stamped with a timestamp, and each newly generated block will advance strictly in a timeline order.
An irreversible chain is formed, so it is called Blockchain.
Moreover, each block contains the hash value of the previous block, ensuring that the blocks are not tampered with while they are connected in chronological order.
At this time, we can understand the original definition of blockchain: a blockchain is a distributed database, a series of data blocks that are related using cryptographic methods, and each data block contains a network. Transaction information is used to verify the validity of the information and generate the next block.
If two people upload at the same time, although this probability is very small, if it happens, we will look at the last blockchain which is longer, and the shorter one will fail. This is the "double-spending problem" in the blockchain (the same amount of money is spent twice). For making false transactions, unless you convince more than 51% of the miners in the entire network to change a certain account, your tampering will be invalid.
The greater the number of participants in the network, the lower the possibility of fraud.
This is also the superiority of collective maintenance and supervision, which maximizes the cost of forgery.
Convincing 51% of artificial fakes is still very difficult.
Well, let's summarize, the blockchain mainly has the following core contents:
1. Decentralization
This is a subversive feature of the blockchain. There is no central organization or central server. All transactions occur in the client application installed on everyone's computer or mobile phone.
Realize point-to-point direct interaction, which not only saves resources, makes transactions autonomous and simplified, but also eliminates the risk of being controlled by a centralized agent.
2. Openness
Blockchain can be understood as a technical solution for public accounting. The system is completely open and transparent. The account books are open to everyone, data sharing is realized, and anyone can check the accounts. The opening effect is similar to this:
3. Irrevocable, non-tamperable and encrypted security
The blockchain adopts a one-way hash algorithm, and each newly generated block advances strictly in a time-line order. The irreversibility and irreversibility of time will cause any attempt to invade and tamper with the data in the blockchain to be easily traced, leading to The exclusion of other nodes makes the cost of fraud extremely high, which can limit related illegal acts.