What's right about blockchain
the core idea of blockchain is decentralization
in the blockchain system, the rights and obligations of any node are equal, and all nodes have the ability to vote with computing power, Thus, the result recognized by more than half of the nodes is guaranteed. Even under serious hacker attacks, as long as the number of nodes controlled by hackers does not exceed half of the total number of nodes in the world, the system can still operate normally and the data will not be tampered with
block chain's biggest subversive nature is the establishment of credit
theoretically, block chain technology can make WeChat payment and Alipay no longer exist value. The economist makes an image metaphor for blockchain: in short, it is "a machine for creating trust". Blockchain enables people to cooperate with each other in the case of mutual distrust and no neutral central institution. The fight against counterfeit money and financial fraud will not be needed in the future
the collective maintenance of blockchain can rece the cost
under the centralized network system, the maintenance and operation of the system depend on the operation and maintenance of platforms such as data center, and the cost cannot be omitted. Anyone can participate in the nodes of the blockchain. Each node can verify the correctness of the results of other nodes' records while participating in the records, which improves the maintenance efficiency and reces the cost
in a word, blockchain touches money, trust and power, which are the fundamental basis for human survival.
1. Application of blockchain technology in the banking instry the biggest feature of blockchain technology is decentralization, which will rece a lot of costs for the banking instry. The development of digital currency will make it possible for banks to realize real-time digital transactions. For example, in bill transaction, bank bill transaction always relies on the third party to realize the transfer of valuable documents. Even in electronic bill transaction,
also needs to be authenticated through the information of central bank ECDs system. The blockchain technology can realize the point-to-point value transmission, which no longer needs centralized system control. This not only speeds up the bill transmission speed, but also reces the mistakes caused by human factors. The rection of process will naturally rece the demand of the bank for personnel and save the labor cost of the bank
2, the application of blockchain technology in the insurance instry
blockchain technology also has incomparable advantages in the insurance instry. From the perspective of data management, the application of blockchain technology can effectively improve the risk management and control ability of insurance companies, including the risk supervision of insurance companies and the risk management of policyholders
the application of blockchain technology in the insurance instry can strengthen the internal risk supervision of insurance companies. Blockchain technology can record the daily operation process of insurance company on the node, realize the in-process control of the company's capital flow, investment situation, compensation amount and other business, and improve the company's risk management and control ability
3. Application of blockchain technology in the securities instry
4, blockchain technology and financial infrastructure
blockchain technology is a decentralized mechanism for value exchange, which will lead to earth shaking changes in the existing financial infrastructure characterized by centralization
5. Application of blockchain technology in supply chain, It has become an effective guarantee for enterprise bank's loan credit, financing credit and transaction credit
decentralization. Blockchain technology does not rely on additional third-party management institutions or hardware facilities, and there is no central control. In addition to the self-contained blockchain itself, each node realizes information self verification, transmission and management through distributed accounting and storage. Decentralization is the most prominent and essential feature of blockchain
openness. Blockchain technology is based on open source. In addition to the private information of all parties involved in the transaction is encrypted, the data of blockchain is open to everyone. Anyone can query blockchain data and develop related applications through the open interface, so the information of the whole system is highly transparent
independence. Based on consensus specifications and Protocols (similar to various mathematical algorithms such as hash algorithm used by bitcoin), the whole blockchain system does not rely on other third parties, and all nodes can automatically and safely verify and exchange data in the system without any human intervention
centralized credit creation mode
blockchain puts forward a variety of different consensus mechanisms to help users effectively form bottom-up decisions and participate in major decisions
according to the white paper of bitcoin, nodes always think that the longest chain is the right blockchain and will continue to extend on it. All miners are mining on the longest chain, which is concive to the uniqueness of blockchain ledger. If the bitcoin transaction transferred to you is not recorded on the longest chain, you may face property losses
what is the "longest blockchain"? Because the miners all over the world are mining at the same time, it is possible that two miners can work out the correct answer at the same time, then the blockchain will form a fork, and the remaining miners may continue to mine on any fork, extending the blockchain
therefore, we usually require that after the bitcoin transfer is packaged, we need to go through the confirmation of six blocks to ensure that the miners will not go back to the other branch to excavate, then the real transfer is successful.
in the future, jinwowo will focus on blockchain technology to promote the legal circulation and commercial application of big data.
Decentralization: because there is no central ruler in the whole network. The system relies on the fair constraints of multiple participants on the network, so the rights and obligations of every node are equal, and every node will store all the data on the blockchain. Even if the node is damaged or attacked, it will not pose any threat to the account book
tamper proof: ensure that information or contracts cannot be forged. If the account book is in someone's hands, the possibility of fraud is very high, but everyone has an account book. Unless more than 51% of the people in the whole game change an account, any tampering will be invalid, which is also the advantage of collective maintenance and supervision
irreversible: the information on the blockchain must be irreversible and cannot be destroyed at will. The system is open source, and the whole system must be open and transparent. Therefore, after a transaction is broadcasted across the network, it will be successfully recorded with more than six confirmations, and it is irreversible and irreversible. Note: imtoken is the confirmation of 12 blocks
anonymity: the identity information of each block node does not need to be announced or verified, and the information can be transferred anonymously. For a simple example, you initiate a transaction to a wallet address on the blockchain, but you can't know the exact person behind the address, or your private key has been stolen by a hacker, and you can't know who the hacker is from a wallet address.