English explanation of blockchain

2.

blockchain is a decentralized distributed ledger database . The advantage of this distributed ledger is that buyers and sellers can trade directly without any intermediary. Everyone has a backup, even if you lose this, it will not be affected

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blockchain application field

1, financial field

blockchain has potential huge application value in international exchange, letter of credit, equity registration, stock exchange and other financial fields. The application of blockchain technology in the financial instry can save the third-party intermediary link and realize the point-to-point direct docking, so as to greatly rece the cost and quickly complete the transaction payment

2. The Internet of things and logistics

blockchain can also be naturally combined in the field of Internet of things and logistics. Through blockchain, we can rece logistics costs, trace the proction and delivery process of goods, and improve the efficiency of supply chain management. This field is considered as a promising application direction of blockchain

3. The data stored on the public welfare field

blockchain is highly reliable and tamperable, which is naturally suitable for social public welfare scenarios. The relevant information in the public welfare process, such as donation project, collection details, fund flow, recipient feedback, etc., can be stored on the blockchain, and can be made transparent and public, which is convenient for social supervision

4. In the field of insurance

in terms of insurance claims, insurance institutions are responsible for fund collection, investment and claims settlement, and often have higher management and operation costs. Through the application of smart contract, there is no need for the applicant to apply or the insurance company to approve. As long as the claim conditions are triggered, the automatic claim settlement of the policy can be realized

3. First of all, the main function of blockchain is to store information. Any information that needs to be saved can be written to or read from the blockchain, so it is a database.

4. Blockchain, as the name suggests, is like being composed of numerous blocks. In the case of bitcoin blockchain, more than 400000 blocks have been generated. The whole blockchain is like a shared distributed ledger, which is jointly maintained by multiple computing nodes participating in bitcoin transactions, Each node also has a complete account backup (complete blockchain data), and each block, like a page in the account, records several different transaction information, which cannot be tampered with by one of the nodes
blockchain related applications include digital currency crowdfunding platform, coin Ying China, and asset custody system developed by China Post Based on blockchain technology.

5. Blockchain
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blockchain technology
blockchain Technology

6. Hello. What is a block chain

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7. They are both encrypted virtual digital currencies. The difference is that bitcoin was born early, has a large audience, and is highly accepted (Dell and Microsoft both accept bitcoin payment). Bitcoin is the representative and originator of cryptocurrency, and has a high market value. Bitcoin is also a small-scale social experience. Ethereum is the second generation of digital currency, and IOT is the follow-up currency, It is also developed based on the smart contract of Ethereum. Last time I saw their founder Zhang Feng's roadshow, it was good