Advantages and disadvantages of blockchain
Recently, many friends have come to ask questions about blockchain, such as the specific advantages of blockchain, why to invest in blockchain, and what benefits can it bring? Can't you invest in real estate and wait for the appreciation; Can't you invest in a mature market like stocks and bonds? Why invest in the emerging blockchain? Does blockchain have any investment value? And so on a series of questions, I have made the following summary, basically summarized the answers to most of the related questions:
it can be summarized in the following four aspects:
1. Blockchain has a good market prospect; 2; As an emerging technology, blockchain is recognized by many professionals including investors. It is estimated that the market value of blockchain will be about US $60 billion in 2020 and US $20 million in the global market in 2024. The considerable market prospect of blockchain is obvious
2. The cost of block chain is less; Compared with the centralized mode of relying on third-party intermediaries such as credit card payment and stock trading, the decentralized distributed structure of blockchain saves investors high handling fees and transaction costs, saves investment costs and improves transaction processing efficiency
3. Block chain is more secure and stable; The traditional centralized mode often faces serious credit crisis, but because each transaction in the blockchain is tracked and permanently recorded by the distributed public account book, the phenomenon of forgery is greatly reced, and the losses caused by the credit problems of the third party are avoided, providing security for investors' transactions
4. The programming attribute of block chain is more standard; Traditional market investors often affect their earnings because of the confusion of market levels, and the programmability of blockchain makes the market level clear, which is an innovative technology that can change people's lives
I hope it can help you to solve related problems. Please feel free to ask or discuss more details or any questions
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< Second, openness:
the foundation of blockchain technology is open source. In addition to the private information of all parties to the transaction is encrypted, the data of blockchain is open to all. Anyone can query blockchain data and develop related applications through the open interface, so the information of the whole system is highly transparent< Third, 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< Fourth, security:
as long as 51% of all data nodes cannot be controlled, the network data cannot be arbitrarily controlled and modified, which makes the blockchain itself relatively safe and avoids subjective and artificial data changes
5. Anonymity:
unless there are legal requirements, technically speaking, the identity information of each block node does not need to be disclosed or verified, and information transmission can be carried out anonymously
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e to the use of Distributed Accounting and storage, there is no centralized hardware or management organization, the rights and obligations of any node are equal, and the data blocks in the system are jointly maintained by the nodes with maintenance function in the whole system
openness
the system is open, in addition to the private information of all parties to the transaction is encrypted, the data of the blockchain is open to all, and anyone can query the blockchain data and develop related applications through the open interface, so the information of the whole system is highly transparent
autonomy
blockchain adopts consensus based specifications and Protocols (such as a set of open and transparent algorithms) to enable all nodes in the whole system to exchange data freely and safely in a de trusted environment, so that the trust in "people" is changed into the trust in machines, and any human intervention does not work
information cannot be tampered with
once the information is verified and added to the blockchain, it will be stored permanently. Unless more than 51% of the nodes in the system can be controlled at the same time, the modification of the database on a single node is invalid, so the data stability and reliability of the blockchain are extremely high<
anonymity
since the exchange between nodes follows a fixed algorithm, their data interaction does not need to be trusted (the program rules in the blockchain will judge whether the activity is effective by themselves), so the counterparties do not need to trust themselves by disclosing their identities, which is very helpful for credit accumulation
According to reports, blockchain has the advantages of decentralization, distrust and tamper proof
compared with the Internet, the blockchain network conceived by Cosmos not only realizes information interaction, but also realizes the transmission of asset value. Through the IBC cross chain protocol, the token can be transferred across the chain between the blockchains based on Cosmos' tendermint core. For the public chains based on POW consensus mechanism like Ethereum, pegged zone can be used to bridge
Article source: bit110 network
① data can not be tampered with. Each node on the blockchain network stores one of the data. If the data on that node is modified, the data will not be recognized by the whole blockchain network, and the modified data will not be verified, Cruise ship can be applied in many fields, such as business data of financial instry, government data of company, audit data, etc. these instries have strict anti tampering requirements for data
2. Distributed storage and traditional software systems are all managed by a single centralized server. Data backup and database cluster should be fully considered. However, data loss still occurs and data security cannot be well guaranteed. In the blockchain system, each running node has a complete data and can retrieve data independently, It greatly increases the reliability of the whole system, and the data between nodes can be kept synchronized. This distributed structure is very suitable for those public service-oriented software, and can also be applied in the game server, which improves the overall experience of the game and has good data security
③ anonymity. In traditional account registration, a user name is required to be bound with a mobile phone number. In order to improve the identity of users, a real name registration is also required. At present, almost all blockchain procts use "address" to identify users. This address is usually a garbled string. The address is usually converted through the public secret key algorithm. The data on the blockchain is open and transparent, but you don't know who is the operator behind it, So this largely ensures the security of users' information, so this advantage can be used in payment and settlement, game account protection, etc.
④ network consensus, we need to reach a consensus on many things in our life, both parties need to sign a contract, and some things need to be notarized by lawyers, Then the whole process becomes very complex. Each node in the blockchain system independently verifies the contract and reaches a common consensus. This mechanism is applied to business. Finance, government affairs and other fields, then can greatly improve efficiency
there are many application scenarios of blockchain. We can consider the application in various fields by combining the technical characteristics of blockchain.