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What is the biggest problem of blockchain and how to solve it
Publish: 2021-03-27 02:41:59
1. In one sentence, it is decentralization
blockchain is a new application mode of distributed data storage, point-to-point transmission, consensus mechanism, encryption algorithm and other computer technologies
the so-called consensus mechanism is a mathematical algorithm to establish trust and obtain interests between different nodes in the blockchain system
in a narrow sense, blockchain is a kind of chain data structure that combines data blocks in chronological order in a sequential way, and it can not be tampered with and forged by cryptography
broadly speaking, blockchain technology is a new distributed infrastructure and computing method, which uses blockchain data structure to verify and store data, uses distributed node consensus algorithm to generate and update data, uses cryptography to ensure the security of data transmission and access, and uses intelligent contract composed of automated script code to program and operate data< Advantages:
1) the algorithm is simple and easy to implement
2) there is no need to exchange additional information between nodes to reach a consensus
3) it takes a lot of cost to destroy the system< Disadvantages:
1) waste of energy
2) it is difficult to shorten the block confirmation time
3) the new blockchain must find a different hash algorithm, otherwise it will face bitcoin attack
4) it is easy to generate bifurcation and needs to wait for multiple confirmations
5) there is no finality, and checkpoint mechanism is needed to make up for it.
blockchain is a new application mode of distributed data storage, point-to-point transmission, consensus mechanism, encryption algorithm and other computer technologies
the so-called consensus mechanism is a mathematical algorithm to establish trust and obtain interests between different nodes in the blockchain system
in a narrow sense, blockchain is a kind of chain data structure that combines data blocks in chronological order in a sequential way, and it can not be tampered with and forged by cryptography
broadly speaking, blockchain technology is a new distributed infrastructure and computing method, which uses blockchain data structure to verify and store data, uses distributed node consensus algorithm to generate and update data, uses cryptography to ensure the security of data transmission and access, and uses intelligent contract composed of automated script code to program and operate data< Advantages:
1) the algorithm is simple and easy to implement
2) there is no need to exchange additional information between nodes to reach a consensus
3) it takes a lot of cost to destroy the system< Disadvantages:
1) waste of energy
2) it is difficult to shorten the block confirmation time
3) the new blockchain must find a different hash algorithm, otherwise it will face bitcoin attack
4) it is easy to generate bifurcation and needs to wait for multiple confirmations
5) there is no finality, and checkpoint mechanism is needed to make up for it.
2. For example, I borrow money from you in a village. Normally, if I am afraid that you will not repay the money, I can find an intermediary recognized by everyone, such as the village head as the guarantor, and sign an IOU. In this way, if you default at that time, I can find an intermediary to prove that you really owe me money, But there are two problems: 1. What if the village head finds out that his long lost son colludes with him to cheat you on money? 2. What if the middleman dies on the spot the next day! This is about trust and security. If the method of blockchain is to provide you with the certificate of the whole village (distributed), so that everyone knows about it and the other party can't default on it. Second, even if a small number of people or village heads deny (some nodes commit crimes) that they have lost the IOU or tampered with the content, there will still be others to make the basis
in other words, blockchain solves the problem of trust and security
in other words, blockchain solves the problem of trust and security
3. One of the characteristics of blockchain projects (especially public chains) is open source. Through open source code, to improve the credibility of the project, so that more people can participate. But the open source code also makes it easier for attackers to attack blockchain system. In the past two years, there have been a number of hacker attacks. Recently, the anonymous currency verge (xvg) was attacked again. The attacker locked a vulnerability in the xvg code, which allowed malicious miners to add false timestamps on the block, and then quickly dig out new blocks. In a few hours, the attacker obtained nearly $1.75 million worth of digital currency. Although the subsequent attack was successfully stopped, no one can guarantee whether the attacker will attack again in the future
of course, blockchain developers can also take some measures
one is to use professional code audit services,
the other is to understand the security coding specifications and take preventive measures
the security of cryptographic algorithm
with the development of quantum computer, it will bring great security threat to the current cryptosystem. Blockchain mainly relies on elliptic curve public key encryption algorithm to generate digital signature for secure transactions. Currently, the most commonly used ECDSA, RSA, DSA, etc. can not withstand quantum attacks in theory, and there will be greater risks. More and more researchers begin to pay attention to cryptographic algorithms that can resist quantum attacks
of course, in addition to changing the algorithm, there is another way to improve the security:
refer to bitcoin's treatment of public key address to rece the potential risk of public key disclosure. As users, especially bitcoin users, the balance after each transaction is stored in a new address to ensure that the public key of the address where bitcoin funds are stored is not leaked
security of consensus mechanism
the current consensus mechanisms include proof of work (POW), proof of stake (POS), delegated proof of stake (dpos), practical Byzantine fault tolerance (pbft), etc
POW faces 51% attack. Because POW depends on computing power, when the attacker has the advantage of computing power, the probability of finding a new block will be greater than that of other nodes. At this time, the attacker has the ability to cancel the existing transaction. It should be noted that even in this case, the attacker can only modify his own transaction, but not the transaction of other users (the attacker does not have the private key of other users)
in POS, attackers can only attack successfully when they hold more than 51% of the token, which is more difficult than 51% of the computing power in pow
in pbft, when the malicious nodes are less than 1 / 3 of the total nodes, the system is secure. Generally speaking, any consensus mechanism has its own conditions. As an attacker, we also need to consider that once the attack is successful, the value of the system will return to zero. At this time, the attacker does not get any other valuable return except destruction
for the designers of blockchain projects, they should understand the advantages and disadvantages of each consensus mechanism, so as to select an appropriate consensus mechanism or design a new consensus mechanism according to the needs of the scene
security of smart contract
smart contract has the advantages of low operation cost and low risk of human intervention, but if there are problems in the design of smart contract, it may bring great losses. In June 2016, the Dao, the most popular funding project of Ethereum, was attacked. The hacker obtained more than 3.5 million Ethereum coins, which later led to the bifurcation of Ethereum into Eth and etc
there are two aspects of the proposed measures:
one is to audit the security of smart contracts, and the other is to follow the principles of smart contract security development
the security development principles of smart contract are: be prepared for possible errors to ensure that the code can correctly handle the bugs and vulnerabilities; Release smart contracts carefully, do well in function test and security test, and fully consider the boundary; Keep smart contracts simple; Pay attention to the threat intelligence of blockchain and check and update in time; Be clear about the characteristics of blockchain, such as calling external contracts carefully
security of digital wallet
there are three main security risks in digital wallet: first, design defects. At the end of 2014, a user lost hundreds of digital assets e to a serious random number problem (repeated r value). Second, the digital wallet contains malicious code. Third, the loss of assets caused by the loss or damage of computers and mobile phones
there are four main countermeasures:
one is to ensure the randomness of the private key
the second is to verify the hash value before software installation to ensure that the digital wallet software has not been tampered with
the third is to use cold wallets
the fourth is to back up the private key.
of course, blockchain developers can also take some measures
one is to use professional code audit services,
the other is to understand the security coding specifications and take preventive measures
the security of cryptographic algorithm
with the development of quantum computer, it will bring great security threat to the current cryptosystem. Blockchain mainly relies on elliptic curve public key encryption algorithm to generate digital signature for secure transactions. Currently, the most commonly used ECDSA, RSA, DSA, etc. can not withstand quantum attacks in theory, and there will be greater risks. More and more researchers begin to pay attention to cryptographic algorithms that can resist quantum attacks
of course, in addition to changing the algorithm, there is another way to improve the security:
refer to bitcoin's treatment of public key address to rece the potential risk of public key disclosure. As users, especially bitcoin users, the balance after each transaction is stored in a new address to ensure that the public key of the address where bitcoin funds are stored is not leaked
security of consensus mechanism
the current consensus mechanisms include proof of work (POW), proof of stake (POS), delegated proof of stake (dpos), practical Byzantine fault tolerance (pbft), etc
POW faces 51% attack. Because POW depends on computing power, when the attacker has the advantage of computing power, the probability of finding a new block will be greater than that of other nodes. At this time, the attacker has the ability to cancel the existing transaction. It should be noted that even in this case, the attacker can only modify his own transaction, but not the transaction of other users (the attacker does not have the private key of other users)
in POS, attackers can only attack successfully when they hold more than 51% of the token, which is more difficult than 51% of the computing power in pow
in pbft, when the malicious nodes are less than 1 / 3 of the total nodes, the system is secure. Generally speaking, any consensus mechanism has its own conditions. As an attacker, we also need to consider that once the attack is successful, the value of the system will return to zero. At this time, the attacker does not get any other valuable return except destruction
for the designers of blockchain projects, they should understand the advantages and disadvantages of each consensus mechanism, so as to select an appropriate consensus mechanism or design a new consensus mechanism according to the needs of the scene
security of smart contract
smart contract has the advantages of low operation cost and low risk of human intervention, but if there are problems in the design of smart contract, it may bring great losses. In June 2016, the Dao, the most popular funding project of Ethereum, was attacked. The hacker obtained more than 3.5 million Ethereum coins, which later led to the bifurcation of Ethereum into Eth and etc
there are two aspects of the proposed measures:
one is to audit the security of smart contracts, and the other is to follow the principles of smart contract security development
the security development principles of smart contract are: be prepared for possible errors to ensure that the code can correctly handle the bugs and vulnerabilities; Release smart contracts carefully, do well in function test and security test, and fully consider the boundary; Keep smart contracts simple; Pay attention to the threat intelligence of blockchain and check and update in time; Be clear about the characteristics of blockchain, such as calling external contracts carefully
security of digital wallet
there are three main security risks in digital wallet: first, design defects. At the end of 2014, a user lost hundreds of digital assets e to a serious random number problem (repeated r value). Second, the digital wallet contains malicious code. Third, the loss of assets caused by the loss or damage of computers and mobile phones
there are four main countermeasures:
one is to ensure the randomness of the private key
the second is to verify the hash value before software installation to ensure that the digital wallet software has not been tampered with
the third is to use cold wallets
the fourth is to back up the private key.
4. I choose Chinese currency! Low operation delay, idle can also save money mining EOS, very suitable.
5. The art instry
ascribe allows artists to declare ownership by using blockchain technology, issue numbered, limited edition works, and target any type of art in digital form. It even includes a trading market where artists can buy and sell through their websites without any intermediary services<
in the legal instry
bitproof is the most advanced of many document timestamp applications emerging in recent years, which will make the traditional notarization method a thing of the past. Bitproof offers more services than free versions including blocksgin and originstaemp, including one for intellectual property. Interestingly, bitproof recently cooperated with an it school in San Francisco to put their students' academic certificates on the blockchain, completely redefining how to handle and use diplomas and student certificates<
development instry
colu is the first enterprise to allow other enterprises to issue digital assets. Many people are impressed that they can "token" all kinds of assets. Although the free bitcoin wallet couperparty also allows simple tokens to be issued and traded among other wallet holders, the tokens of colu can be set with various states and types, can be detached from or returned to the system, and can be stored on BitTorrent's network when the data stored on the blockchain is too large<
the real estate instry
they plan to modernize the whole instry chain process and solve various problems faced by everyone when participating in real estate, including naming process, land registration, agency, etc
viewing blockchain from a financial perspective
the essence of money: money is just a kind of broad value consensus, and it does not have value precipitation
the relationship between assets and currency: currency describes assets
what is digital assets: assets are digital, segmentable and tradable, and the price is determined by the supply and demand market, not by the value intermediary currency<
Internet of things
application scenario analysis [7]
a possible application scenario is: generate corresponding behavior through transaction, assign address to each device, inject a certain fee into the address, and perform relevant actions, so as to achieve the application of Internet of things. Similar to: PM2.5 monitoring point data acquisition, server leasing, webcam data call, DNS server, etc
in addition, with the increasing number of Internet of things devices and the increasing demand for edge computing, a large number of devices need to adopt a distributed self-organization management mode, and the requirement for fault tolerance is very high. The distributed and anti attack characteristics of blockchain can be well used in this scenario
IBM [7]
IBM has continuously invested in the research and development of the Internet of things for decades, and is exploring the use of blockchain technology to rece the cost of Internet of things applications
in early 2015, IBM and Samsung announced their cooperation in developing adept system
logistics supply chain [7]
the supply chain instry often involves many entities, including logistics, capital flow, information flow, etc. there are a lot of complex cooperation and communication between these entities. Under the traditional mode, different entities keep their own supply chain information, which is seriously lack of transparency, resulting in higher time cost and money cost, and it is difficult to trace and deal with problems (false claim, counterfeit goods, etc.)
through the blockchain, all parties can obtain a transparent and reliable unified information platform, which can view the status in real time, rece the logistics cost, and trace the whole process of proction and transportation of goods, so as to improve the efficiency of supply chain management. When disputes arise, the proof and tracing become clearer and easier
this field is considered as a promising application direction of blockchain
for example, the carrier can scan the QR code to prove that the goods arrive at the designated area, and automatically charge the fees agreed in advance. We can refer to how the blockchain changes the supply chain finance and brings transparency to the supply chain
skuchain creates a new supply chain solution based on blockchain to realize the synchronization of commodity flow and capital flow, and alleviate the problem of counterfeit goods
public network service [7]
the normal operation of the existing Internet is inseparable from many nearly free network services, such as domain name service (DNS). Anyone can query the domain name for free. Without DNS, all kinds of websites can't be accessed. Therefore, for the network system, similar basic services must be safe, reliable and low-cost
blockchain technology just has these characteristics. The DNS system based on blockchain will no longer have all kinds of wrong query results, and can provide services stably and reliably
Insurance Instry
in the past two years, the hottest topic in the field of science and technology can not be separated from blockchain technology. This underlying technology, born out of bitcoin, has proved its highly secure and reliable architecture and algorithm design with more than seven years of stable operation. At the same time, with innovative technologies such as distributed ledger and smart contract, it has opened up a huge imagination space for instrial upgrading of many instries. Some instry experts even predict that blockchain technology will set off the second Internet revolution
the financial instry has always been the most sensitive to advanced technology. Traditional banking and securities giants have been investing in blockchain venture capital since 2014. In two years, the total global investment is as high as US $1 billion, and there is no lack of a-round financing such as US $60 million of Dah and US $50 million of blockstream. In addition to capital investment, major companies have personally participated in and promoted specific business applications: for example, the LINQ blockchain equity exchange launched by the Nasdaq Stock Exchange in the United States has started issuing tests at the end of 2015; The R3 CEV alliance formed by 43 multinational banks in the world has been testing and improving the inter-bank clearing alliance chain, with unprecedented speed and participation
although the insurance instry's participation in blockchain technology is relatively conservative, it has been actively exploring and researching in the academic field. At the end of 2014, the 50 page "lifelong chain" special research report launched by the European and American insurance instry forum initiated by the famous Z / yen Group Consulting Group in the UK discussed the innovation and change that blockchain will bring to the insurance instry from many aspects
while studying blockchain technology, I have exchanged with many domestic experts and scholars in the insurance instry, and deeply discussed the specific foothold of blockchain in the insurance business from the perspectives of business process and company management. Now I share with readers some thoughts on credit risk management.
ascribe allows artists to declare ownership by using blockchain technology, issue numbered, limited edition works, and target any type of art in digital form. It even includes a trading market where artists can buy and sell through their websites without any intermediary services<
in the legal instry
bitproof is the most advanced of many document timestamp applications emerging in recent years, which will make the traditional notarization method a thing of the past. Bitproof offers more services than free versions including blocksgin and originstaemp, including one for intellectual property. Interestingly, bitproof recently cooperated with an it school in San Francisco to put their students' academic certificates on the blockchain, completely redefining how to handle and use diplomas and student certificates<
development instry
colu is the first enterprise to allow other enterprises to issue digital assets. Many people are impressed that they can "token" all kinds of assets. Although the free bitcoin wallet couperparty also allows simple tokens to be issued and traded among other wallet holders, the tokens of colu can be set with various states and types, can be detached from or returned to the system, and can be stored on BitTorrent's network when the data stored on the blockchain is too large<
the real estate instry
they plan to modernize the whole instry chain process and solve various problems faced by everyone when participating in real estate, including naming process, land registration, agency, etc
viewing blockchain from a financial perspective
the essence of money: money is just a kind of broad value consensus, and it does not have value precipitation
the relationship between assets and currency: currency describes assets
what is digital assets: assets are digital, segmentable and tradable, and the price is determined by the supply and demand market, not by the value intermediary currency<
Internet of things
application scenario analysis [7]
a possible application scenario is: generate corresponding behavior through transaction, assign address to each device, inject a certain fee into the address, and perform relevant actions, so as to achieve the application of Internet of things. Similar to: PM2.5 monitoring point data acquisition, server leasing, webcam data call, DNS server, etc
in addition, with the increasing number of Internet of things devices and the increasing demand for edge computing, a large number of devices need to adopt a distributed self-organization management mode, and the requirement for fault tolerance is very high. The distributed and anti attack characteristics of blockchain can be well used in this scenario
IBM [7]
IBM has continuously invested in the research and development of the Internet of things for decades, and is exploring the use of blockchain technology to rece the cost of Internet of things applications
in early 2015, IBM and Samsung announced their cooperation in developing adept system
logistics supply chain [7]
the supply chain instry often involves many entities, including logistics, capital flow, information flow, etc. there are a lot of complex cooperation and communication between these entities. Under the traditional mode, different entities keep their own supply chain information, which is seriously lack of transparency, resulting in higher time cost and money cost, and it is difficult to trace and deal with problems (false claim, counterfeit goods, etc.)
through the blockchain, all parties can obtain a transparent and reliable unified information platform, which can view the status in real time, rece the logistics cost, and trace the whole process of proction and transportation of goods, so as to improve the efficiency of supply chain management. When disputes arise, the proof and tracing become clearer and easier
this field is considered as a promising application direction of blockchain
for example, the carrier can scan the QR code to prove that the goods arrive at the designated area, and automatically charge the fees agreed in advance. We can refer to how the blockchain changes the supply chain finance and brings transparency to the supply chain
skuchain creates a new supply chain solution based on blockchain to realize the synchronization of commodity flow and capital flow, and alleviate the problem of counterfeit goods
public network service [7]
the normal operation of the existing Internet is inseparable from many nearly free network services, such as domain name service (DNS). Anyone can query the domain name for free. Without DNS, all kinds of websites can't be accessed. Therefore, for the network system, similar basic services must be safe, reliable and low-cost
blockchain technology just has these characteristics. The DNS system based on blockchain will no longer have all kinds of wrong query results, and can provide services stably and reliably
Insurance Instry
in the past two years, the hottest topic in the field of science and technology can not be separated from blockchain technology. This underlying technology, born out of bitcoin, has proved its highly secure and reliable architecture and algorithm design with more than seven years of stable operation. At the same time, with innovative technologies such as distributed ledger and smart contract, it has opened up a huge imagination space for instrial upgrading of many instries. Some instry experts even predict that blockchain technology will set off the second Internet revolution
the financial instry has always been the most sensitive to advanced technology. Traditional banking and securities giants have been investing in blockchain venture capital since 2014. In two years, the total global investment is as high as US $1 billion, and there is no lack of a-round financing such as US $60 million of Dah and US $50 million of blockstream. In addition to capital investment, major companies have personally participated in and promoted specific business applications: for example, the LINQ blockchain equity exchange launched by the Nasdaq Stock Exchange in the United States has started issuing tests at the end of 2015; The R3 CEV alliance formed by 43 multinational banks in the world has been testing and improving the inter-bank clearing alliance chain, with unprecedented speed and participation
although the insurance instry's participation in blockchain technology is relatively conservative, it has been actively exploring and researching in the academic field. At the end of 2014, the 50 page "lifelong chain" special research report launched by the European and American insurance instry forum initiated by the famous Z / yen Group Consulting Group in the UK discussed the innovation and change that blockchain will bring to the insurance instry from many aspects
while studying blockchain technology, I have exchanged with many domestic experts and scholars in the insurance instry, and deeply discussed the specific foothold of blockchain in the insurance business from the perspectives of business process and company management. Now I share with readers some thoughts on credit risk management.
6. Blockchain technology provides a kind of machine trust in the form of "machine code, formal proof, decentralization, distribution and information system". This kind of machine trust no longer needs the help of a third-party centralized organization. On the basis of machine trust, people can cooperate and trade even if they don't know each other. Relying on the powerful technical functions of blockchain, GTA subverts the traditional business model of gene technology, uses cryptography technology to confirm the sovereignty of personal gene data and protect the privacy of personal information. By using the economic incentive mechanism of pass, large-scale indivial users, market promoters, gene sequencing institutions, data storage institutions and data users are encouraged to actively participate in and cooperate, so as to quickly gather a large amount of gene data; Then, the business value is realized by the wide application of gene big data in the field of life and health.
7. The most important thing of blockchain is to solve the problem of intermediary credit. In the past, it was difficult for two people who didn't know and trust each other to reach cooperation, and they had to rely on a third party. For example, in the past, there must be a bank or an institution such as Alipay. However, through the blockchain technology, bitcoin is the first time for human beings to complete the transfer behavior that can be trusted by both parties without the participation of any intermediary. This is a major breakthrough in blockchain. Now there are many procts and applications based on blockchain technology. Lifechain is a medical and nursing enterprise based on blockchain technology. You can learn about it.
8. Blockchain solves the problem of trust, which is the root of all problems
wikilink is a complete intelligent contract platform supporting Turing. Wikilink adopts the consensus mechanism of dpos, with a total of 11 voting nodes, generating a new block every 10 seconds. Through the smart contract wikilink, we can realize a wealth of application scenarios, such as asset issuance, guessing applications, right traceability, mutual insurance, decentralized exchanges, cross-border settlement, etc
but the most important thing in these scenarios is trust, which is to be open and transparent.
wikilink is a complete intelligent contract platform supporting Turing. Wikilink adopts the consensus mechanism of dpos, with a total of 11 voting nodes, generating a new block every 10 seconds. Through the smart contract wikilink, we can realize a wealth of application scenarios, such as asset issuance, guessing applications, right traceability, mutual insurance, decentralized exchanges, cross-border settlement, etc
but the most important thing in these scenarios is trust, which is to be open and transparent.
9. Chongqing jinwowo analysis:
the development of blockchain application technology is more in the use of its decentralized and tamper proof technology. These two characteristics successfully push the blockchain application technology to the world. People suddenly realize that in this lack of trust society, there can be a technology to change the status quo, and do not need to go through a third party, Completely decentralized technology
if this technology can be popularized, it will be a breakthrough, so the development of blockchain application technology has become the focus of research and development in various countries and regions.
the development of blockchain application technology is more in the use of its decentralized and tamper proof technology. These two characteristics successfully push the blockchain application technology to the world. People suddenly realize that in this lack of trust society, there can be a technology to change the status quo, and do not need to go through a third party, Completely decentralized technology
if this technology can be popularized, it will be a breakthrough, so the development of blockchain application technology has become the focus of research and development in various countries and regions.
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