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High order trust of blockchain Technology

Publish: 2021-05-24 13:03:11
1. The three levels of jinwowo analysis blockchain technology are as follows:
protocol layer
the so-called protocol layer refers to the lowest level technology. This level is usually a complete blockchain proct, similar to the operating system of our computer. It maintains network nodes and only provides API for calling. Usually, the government will provide a simple client (commonly known as wallet). The function of this client wallet is also very simple. It can only establish address, verify signature, transfer payment, check balance, etc
extension layer
this layer is similar to the computer driver, which is to make blockchain procts more practical
application layer
this layer is similar to all kinds of software programs in computers. It is a proct that ordinary people can really use directly, and it can also be understood as the browser of B / S architecture procts. The application of this level is almost blank at present.
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4. 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
5. Tamper proof, distributed ledger, peer-to-peer
6. The application of jinwowo analysis blockchain technology can start from the following aspects:
① weak trust relationship, no trust relationship and multiple trust relationship
2. The need for large-scale consensus is multi-party cooperation, which requires the establishment of scale consensus in distributed ledger
3. The low and medium frequency transaction is the most important part, because the current technology stage does not support large-scale high-frequency concurrency
4. Areas that can form a multi win mechanism, because only in this way can we have the motivation to use it
⑤ the market with network effect, the larger the scale (more users), the higher the efficiency, including social networking and didi travel.
7. 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.
8. Chongqing jinwowo analysis: blockchain, as a distributed electronic account book, makes data complete and reliable
blockchain adopts distributed data storage technology, which enables the whole people to participate in the application system of collection, management and sharing, so as to ensure the diversity and integrity of information and achieve the purpose of decentralization.
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