Generate blockchain

1. 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.

2.

(1) Technical level. Since 2007, distributed computing has affected technical developers, so it is normal for bitcoin to appear in the field of virtual currency

(2) hardware level. The popularity of PC servers and the exponential growth of computing power

(3) commercial level. The three characteristics of blockchain, namely, decentralization, distrust and extremely difficult forgery, just meet the needs of recing the trust cost and speeding up the transaction speed in financial fields such as stock trading and bank settlement

(4) political level. Blockchain can rece the transaction cost to a certain extent, but the anonymity and untraceability of blockchain cause huge political risk

[blockchain as the underlying technology of bitcoin was proposed at the end of 2008]

< p class = ikqb_ image_ Blockchain is mentioned in this book

3. How can blockchain be connected in sequence
blockchain is composed of a series of blocks generated by cryptographic algorithm. Each block is filled with transaction records, and the blocks are connected in sequence to form a chain structure, which is the blockchain ledger
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, new transaction block and random number of the previous block. In other words, each block is generated on the basis of the previous block data, which ensures the uniqueness of the blockchain data
because subtle changes in transaction records will completely change the result of hash value, miners can't cheat when competing for computing power. Each miner must wait until the previous block is generated before starting to calculate the qualified random number according to the data of the previous block, which ensures the fairness of mining.

4. The origin of blockchain comes from "bitcoin: a peer-to-peer e-cash system" published by Nakamoto in 2008. According to this concept, the first proct "bitcoin" was born. The origin of blockchain technology is usually attributed only to the actions of some mysterious geniuses who work under the pseudonym of Nakamoto. This view of history often makes the technology seem almost magical and difficult to understand. When people understand the actual history behind the development of these systems, it is more fundamental. In this section, I will outline the most important topics in decades of research on consensus algorithms and distributed systems that led to the creation of blockchains.

5. There are many things that can be done, such as digital IP, public welfare, finance, supply chain, logistics and so on

6. Jinwowo network analysis believes that: blockchain technology redefines the generation mode of credit in the network: in the system, participants do not need to know the background information of other people, nor do they need to rely on the guarantee or guarantee of a third party organization. Blockchain technology ensures that the system records, transmits and stores the activities of value transfer, and the final result must be credible.

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