Wang Zhi who knows blockchain

1.

blockchain is a kind of technology, which solves the core "trust" problem in the market economy and reces the trust cost between strangers to a very low level

there is one crucial thing in the market economy, which is "trust". Without trust, no deal can be established. When you go to LAICHANG to buy vegetables, if you don't believe that the pesticide content in vegetable is up to the standard, you won't trade with that dealer; If you buy a bottle of water in a small shop, the clerk will not sell you the water if he doesn't believe that the money you give is real

the traditional small-scale peasant economy is acquaintance economy, and the transaction scale is limited to people who are familiar with each other nearby. If an acquaintance deceives you, he will lose your social relationship and damage his reputation in the whole circle of acquaintances. We believe that acquaintances are less likely to cheat us than strangers

therefore, once we are beyond the scope of acquaintances, we need to use a high cost to identify whether a stranger will cheat me and how to avoid the risk of being cheated. This situation will hinder the transaction and restrict the transaction

in addition, different races, nationalities, cultures, religious beliefs and so on will naturally have this kind of trust problem

in the market economy, why can there be so many transactions between strangers? Because of the birth of a new mechanism to solve the problem of trust in strangers

so far, the most important mechanism to solve the trust problem is the "trust intermediary" organization and mode

as long as you and strangers trust a third-party organization, the trust problem between you can be solved through this third-party organization

this third-party organization, we call it trust intermediary. Both the government and the bank are trust intermediaries

you can sell the goods you have worked hard to proce to a stranger in exchange for a stack of RMB banknotes. It's because the credit of the note issuing bank and the guarantee of the authority of the government guarantee the currency value and effectiveness of the banknotes. Otherwise, sell things, in exchange for a few ordinary paper, who would like to

in the era of global village and Internet, the people who buy your things may be strangers who will not meet and thousands of miles away. Trust is lower, so Alipay assumes the role of trust intermediation. Buyers first pay the goods to Alipay's account. When they receive the goods, they confirm that they are OK, then they agree to sell the goods to the seller. Taobao and other e-commerce have been booming rapidly in just over ten years

trust intermediary is in a central position in the transaction system. All transactions should solve the trust problem through it

However, the cost of trust intermediary itself is often huge

as a trust intermediary, how much transaction tax does the government charge each year? What is the most profitable instry? Financial services. The annual profits of Alipay's ant suit are over ten billion. p> What does this mean? Both sides of the market actually pay a huge trust cost

if there is any way to cancel or greatly rece the trust cost, the transaction cost of the general public can be reced, and the profits can be greatly increased

so in the Internet era, blockchain technology is on the stage

it allows the trading party to get rid of the intermediary, solve the problem of trust among strangers, and greatly rece the cost of trust

the blockchain can be expanded on a large scale, the data is open and transparent, the data of each client is consistent, and even if some clients are destroyed, the data security will not be affected. These highly reliable technical features can solve the trust problem of strangers with low cost

this technology can be extended to all fields that can be digitized, such as digital currency, payment and clearing, digital bills, proof of rights and interests, credit reference, government services, medical records, etc

in the medium and long term, blockchain will be a revolutionary technology, which will bring about great social changes like the existing Internet, and has great investment value and money making opportunities

in the future, the companies that can combine blockchain with different scenarios to promote applications may be the next group of bat, the next Google, Microsoft and apple

as the first practical application of blockchain technology, bitcoin has been widely accepted and used all over the world. Millions of users and tens of thousands of merchants have accepted the payment of bitcoin as a digital currency, and the exchange value of bitcoin as a currency is growing. Even e to the consensus that the total amount is fixed and the long-term value is bullish, bitcoin has become a hedge asset similar to gold, and the price has skyrocketed

2. From an academic point of view, blockchain is a new application mode of distributed data storage, point-to-point transmission, consensus mechanism, encryption algorithm and other computer technologies. Blockchain is essentially a decentralized database

for example, if you are a woman, every time your boyfriend says something to you or promises to buy something for you, you immediately record it and send it to you and all his friends, classmates, colleagues, as well as various groups and circles of friends, so that he can no longer deny it. This is called blockchain

the core advantage of blockchain technology is decentralization, which can realize point-to-point transaction, coordination and cooperation based on decentralized credit in a distributed system without mutual trust by means of data encryption, time stamp, distributed consensus and economic incentive, so as to solve the high cost, low cost and low cost of centralized institutions Low efficiency and data storage insecurity provide solutions

the application fields of blockchain include digital currency, token, finance, anti-counterfeiting traceability, privacy protection, supply chain, entertainment, etc. with the popularity of blockchain and bitcoin, many related top domain names have been registered, which has a great impact on the domain name instry.

3. Traditional transactions on the Internet need to rely on trusted third-party institutions to process electronic payment information, and both parties trust the third-party institutions However, the third-party intervention also has many disadvantages:< Br > - high transaction cost (a certain handling charge)< Br > - Privacy exposure (the third party needs to provide the information of both parties in order to verify the information)< Br > -... < br > imagine that if the third-party organization is removed and the two parties trade directly, how can the transaction take effect? The emergence of blockchain technology is to solve this problem. Blockchain is based on the principle of cryptography rather than trust mechanism, which makes the two parties reach an agreement to trade directly and publish it to all witnesses.

4. This concept was proposed in the white paper [1] of Nakamoto Tsung, who created the first block, namely "Genesis block"< On January 3, 2009, the founder of bitcoin, Mr. Nakamoto, left an unchangeable sentence in the genesis block:
"the times 03 / Jan / 2009 Chancellor on brink of second low for banks (on January 3, 2009, the chancellor of the exchequer was on the verge of implementing the second round of bank emergency assistance)."
at that time, the British Chancellor of the exchequer, darling, was forced to consider a second attempt to relieve the banking crisis, which was the headline of the front page article of the times that day
the time stamp service and existence proof of blockchain, the time generated by the first blockchain and the events that happened at that time are permanently preserved
BTCC, a bitcoin company, launched a service "Millennium chain" in 2015, namely blockchain lettering service, which is based on the above principles. Users can use this service to engrave text on the blockchain and save it permanently
bitcoin, Ruitai coin, Laite coin, dogcoin, Ethereum and other digital currencies will use blockchain technology.

5. Blockchain is composed of a series of block links generated by cryptographic algorithm, so it is called blockchain
each block is filled with transaction records, and the blocks are connected in sequence to form a chain structure, which is the blockchain ledger
blockchain technology divides the data to be stored in the database into different blocks. Taking bitcoin as an example, when miners generate new blocks, they need to calculate the new hash value and random number according to the hash value of the previous block, the new transaction block and the random number. Each block is linked to the back of the previous block through specific information, and connected in chronological order to present a complete set of data. In other words, each block is generated on the basis of the previous block data, which ensures the uniqueness of the blockchain data
each blockchain database is essentially an event chain connected in chronological order, which uses the cryptographic mechanism specified in the protocol for authentication to ensure that it will not be tampered with or forged. With the popularity of blockchain and bitcoin, many related top domain names have been registered, which has a great impact on the domain name instry
blockchain technology has three obvious characteristics: openness, security and uniqueness
openness mainly refers to that the stored information in the blockchain is completely open to all participants. This is mainly determined by the point-to-point network storage mode of the blockchain. In the blockchain network, each node can store a of the blockchain, and the uniqueness of the blockchain can ensure that the is exactly the same between different nodes
security mainly refers to that the information stored in the blockchain block is saved after being processed by digital encryption technology, and only the private key holder can decrypt the information to obtain the real information. Other members can only see and verify the integrity and uniqueness of information, but cannot see the real information
uniqueness is mainly e to the fact that the information on the blockchain cannot be tampered with once it is on the chain, so it is unique. Of course, the uniqueness here also includes the uniqueness in space, that is, all nodes have only one version of information, and also includes the uniqueness in time, that is, the historical data cannot be changed. This uniqueness also means that the blockchain maintains the characteristics of a unique main chain in the process of operation, and once other chains appear, it is a bifurcation. The emergence of bifurcation will lead to the plication of blockchain in two different spatial dimensions. Of course, to solve this problem, we need to set reasonable consensus rules to avoid
there is no distinction between mobile and non mobile end in blockchain, and if there is one, it is also a gimmick.

6. If you haven't heard of blockchain, maybe you've heard of bitcoin
blockchain is the underlying technology of bitcoin. You can understand it as an account book. This account book is a decentralized distributed account book. Every bill in the account book is the block in the blockchain, and each block records transaction information. Because it is decentralized and not under the jurisdiction of a third party, the information in the block can not be tampered with, and all the information can be traced. This is why blockchain is often used for traceability to help users see the source information of goods
blockchain can't be explained clearly in one or two sentences. If you want to understand blockchain, you can look at the relevant information in password finance.