What's the meaning of trusting blockchain

1.

The strict definition of blockchain refers to the distributed database technology that multiple nodes in peer-to-peer network jointly maintain a continuously growing list ledger constructed by time stamp and orderly record data blocks through consensus mechanism based on cryptography technology. This technical solution allows any number of nodes in the participating system to calculate and record all the information exchange data in the system in a period of time to a data block through cryptography algorithm, and generate the fingerprint of the data block for linking the next data block and checking. All participating nodes in the system jointly determine whether the record is true

blockchain is a technical solution similar to NoSQL (non relational database). It is not a specific technology, and can be implemented through many programming languages and architectures. There are many ways to realize blockchain, including pow (proof of work), POS (proof of stake), dpos (delegate proof of stake), etc

the concept of blockchain was first proposed in the paper "bitcoin: a peer-to-peer electronic cash system" by indivials (or groups) who call themselves Satoshi Nakamoto. Therefore, bitcoin can be regarded as the first application of blockchain in the field of financial payment

< H2 > [popular explanation]

no matter how big the system or how small the website is, there is a database behind it. So who will maintain this database? In general, who is responsible for the operation of the network or system, then who is responsible for the maintenance. If it is wechat database, it must be maintained by Tencent team, and Taobao database is maintained by Alibaba team. We must think that this way is natural, but blockchain technology is not

if we think of the database as a book, for example, Alipay is a typical account book. Any change of data is bookkeeping. We can think of database maintenance as a very simple way of accounting. In the world of blockchain, everyone in the blockchain system has the opportunity to participate in bookkeeping. The system will select the fastest and best bookkeeper in a period of time, maybe within ten seconds or ten minutes. The bookkeeper will record the changes of the database and the account book in a block. We can think of this block as a page. After the system confirms that the records are correct, the system will record the changes of the database and the account book in a block, It will link the fingerprint of the past account book to this paper, and then send this paper to everyone else in the whole system. Then, over and over again, the system will look for the next person with fast and good bookkeeping, and everyone else in the system will get a of the whole ledger. This means that everyone as like as two peas in the system is called Blockchain. It is also called distributed account technology. P>

as like as two peas (computer) have identical accounting books, and everyone has the same rights, they will not collapse e to the loss of contact or downtime of a single person. As like as two peas, the data is transparent and everyone can see what changes are in every account. Its very interesting feature is that the data can't be tampered with. Because the system will automatically compare, it will think that the same number of books with the largest number are real books, and a small number of books with different numbers are false books. In this case, it's meaningless for anyone to tamper with his own account book, because unless you can tamper with most nodes in the whole system. If there are only five or ten nodes in the whole system, it may be easy to do so. However, if there are tens of thousands or even hundreds of thousands of nodes and they are distributed in any corner of the Internet, unless someone can control most computers in the world, it is unlikely to tamper with such a large block chain

< H2 > [elements]

combined with the definition of blockchain, we think that we must have the following four elements to be called public blockchain technology. If we only have the first three elements, we will consider it as private blockchain Technology (private chain)

1, peer-to-peer network (power equivalence, physical point-to-point connection)

2, verifiable data structure (verifiable PKC system, non tampering database)

3, distributed consensus mechanism (Solving Byzantine general problem, solving double payment)

4 Game design of Nash equilibrium (cooperation is the strategy of evolutionary stability)

< H2 > [Characteristics]

combined with the definition of blockchain, blockchain will realize four main characteristics: decentralized, trustless, collective maintenance and reliable database. And the other two will be derived from the four characteristics  Features: open source  Privacy. If a system does not have these characteristics, it can not be regarded as an application based on blockchain technology

Decentralized: there is no centralized hardware or management organization in the whole network. The rights and obligations of any node are equal, and the damage or loss of any node will not affect the operation of the whole system. Therefore, it can also be considered that the blockchain system has excellent robustness

trustworthiness: there is no need to trust each other when participating in the data exchange between each node in the whole system. The operation rules of the whole system are open and transparent, and all data contents are also open. Therefore, within the specified rule range and time range of the system, nodes cannot and cannot cheat other nodes

collective maintenance: the data blocks in the system are maintained by all the nodes with maintenance function in the whole system, and these nodes with maintenance function can be participated by anyone

reliable database: the whole system will enable each participating node to obtain a of the complete database in the form of sub databases. Unless more than 51% of the nodes in the whole system can be controlled at the same time, the modification of the database on a single node is invalid, and the data content on other nodes cannot be affected. Therefore, the more nodes and computing power in the system, the higher the data security in the system

Open Source: since the operation rules of the whole system must be open and transparent, the whole system must be open source for the program

Privacy Protection: since there is no need to trust each other between nodes, there is no need to disclose the identity between nodes, and the privacy of each participating node in the system is protected

2. The choice of trading platform depends on which aspect you pay more attention to. Some people like small income and avoid risk; Some people just like high returns and are not afraid of risks. Therefore, it still depends on indivial choice. Bitasset deploys automatic monitoring and early warning system in terms of security to monitor the possible risks brought by market fluctuation and price fluctuation to users in real time; In terms of income, there are core personnel from traditional financial institutions with foreign exchange trading experience. Not only can the income meet the requirements, but also can reasonably avoid risks, killing two birds with one stone.

3. In the blockchain system, the bookkeeper is selected according to a set of competition rules, and those who participate in the competition have a chance to win and be elected as Bookkeeper. Let's assume that this rule is a Rubik's cube competition, and the one who makes the Rubik's cube first will get the bookkeeping right. This reflects a feature of blockchain bookkeeping: decentralized bookkeeping. By playing Rubik's cube game, the bookkeeper is randomly generated to ensure that the bookkeeper is no longer a centralized organization.

4. This decentralized feature of blockchain can effectively solve the trust problem. It depends on which aspects of your life you want to solve the trust problem. It is recommended that you learn about sec social e-commerce chain. Sec social e-commerce chain, as the name suggests, is the next generation of blockchain protocol in the field of social e-commerce based on social trust. Through token reward and other mechanisms, It has solved the problem of trust at the bottom of social e-commerce. I'm very optimistic about this project. Now the air currency is everywhere, and the SEC social e-commerce chain can really be implemented, which is more reliable

5. Since its first appearance in 2009, the recent surge in the value of digital currency has triggered a discussion in the security field about the benefits of blockchain. Blockchain is a technology that can promote trust types that are extremely lacking in some digital transactions

nowadays, people are exchanging cryptocurrency at a higher and higher speed. But what makes cryptocurrency so trustworthy? The answer is simple: everyone has their own blockchain

what is blockchain technology, what are its benefits, and what is building digital trust

transfer the burden of trust

when we deposit money in a certain place, we believe it will not modify our account. Similarly, when we do retail business, we expect to get enough goods in exchange for the money we spend. By using blockchain, cryptocurrency providers have eliminated the trust burden of third-party financial institutions

blockchain is a peer-to-peer network database, which divides each transaction into its own block. In addition to cryptocurrency transactions, these blocks can contain other sensitive assets, such as identity information, patents, land ownership, medical data, and so on

what is blockchain technology, what are its benefits, and what is building digital trust

once a transaction is grouped into a block, a hash is assigned to the block, so that users can easily detect changes in data. A block may contain a hash of the previous block, creating a block. This allows security professionals to trace the block chain back to the first block or genesis block when an attacker attempts to modify a transaction. Any change will change the hash of the block, requiring potential threat participants to modify all blocks in the chain to complete the attack. For this reason, most cybercriminals think that it is unrealistic to attack blockchain and target

more benefits of blockchain

blockchain is distributed among all participating nodes in the network, so anyone who joins the network can access the whole blockchain. Participants can collectively evaluate the effectiveness of the whole chain, which means that potential attackers need to control more than half of the participants to change the final blockchain

the mechanism of consensus varies with the implementation of blockchain. For example, the previous hot fried currency uses work proof, which is a mathematical challenge. Participants must solve this problem before they can add a block to the chain. Other methods include proof of interest, proof of activity and selective endorsement. Each method has its own advantages and limitations

by checking the audit trail of the blockchain, participants can view the complete record of who owns a given asset, coin or token in the whole life cycle. In other words, they can track the source of assets and past transactions. Public key encryption further ensures non repudiation and confidentiality

there are no restrictions

nowadays, blockchain is often used as a currency ledger to facilitate smart contract and identity management. In addition, some projects are building database networks, which use distributed technology to serve supply chain, real estate, voting system, etc

after all, a technology actually guarantees trust between participants and provides visibility for sensitive transactions. As encryption becomes more and more popular and the need for verification increases, blockchain technology will also be greatly improved

6.

According to reports, there were 58 blockchain investment incidents in China in the first quarter of this year, with a total investment of 681 million yuan. Blockchain: whether it can open the door of trust has once again aroused heated debate

according to the data from the third-party research institutions, according to incomplete statistics, investment institutions invested 1.271 billion yuan in the blockchain field last year and made 100 investments. In the first quarter of 2018, there were 58 blockchain investment events, with a total investment of 681 million yuan. Capital also regarded blockchain as another "wind outlet" after sharing economy and artificial intelligence

Article source: bit110 network

7. Tamper proof, distributed ledger, peer-to-peer

8. Blockchain provides potential solutions for many instries, including supply chain instry. In fact, supply chain management is also one of the best instries in which blockchain technology is applied. Therefore, we can expect that blockchain technology will be more useful in the supply chain in the near future
the key to the successful operation of the supply chain is to ensure that the system is in a stable, transparent and end-to-end communication state.

9. Jinwowo analysis: in the blockchain system, all nodes can trade without trust, because the operation of the database and the whole system is open and transparent, and the nodes cannot cheat each other within the rules and time range of the system.