1. The problem of decentralization
- Anti-counterfeiting of currency: who is responsible for identifying the authenticity of currency
- Trading money: how to ensure the safe transfer of money from one party to another
- Avoid Double Spending: How to Avoid Paying the Same Currency to Multiple Recipients
2. The Birth of Bitcoin
- 2008.10.31 Satoshi Nakamoto proposed the Bitcoin design white paper
- 2009.1.3 18:15:05 UTC time, the first coin was born
- Significance: For the first time, the currency has truly realized a safe and reliable decentralized digital currency mechanism in a practical sense.
3. Potential commercial value
- Distributed fault tolerance: The distributed network is extremely strong and can tolerate the abnormal state of some nodes
- Immutable: Data after consistent submission will always exist and cannot be destroyed or modified
- Privacy protection: Cryptography ensures data privacy, even if the data is leaked, it cannot be parsed
4. New Features
- Trustworthiness: It can provide a natural and credible distributed ledger platform without the participation of third-party intermediaries
- Reduced costs: Compared to traditional technologies, blockchain technology may require less time, labor and maintenance costs
- Enhanced security: Blockchain technology will facilitate safe and reliable audit management and account settlement, reducing the risk of crime
Source: "Blockchain Principle, Design and Application"