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What technology is blockchain (a popular explanation of blockchain technology)

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What technology is blockchain (a popular explanation of blockchain technology)

According to Babbitt, recently at the 2018 China Blockchain Technology and Application Summit Forum, Liu Dong, an associate researcher at the Institute of Software, Chinese Academy of Sciences, stated, “What technology is blockchain?” Blockchain is a decentralized database technology. It performs bookkeeping and record keeping through encryption. At the same time, the characteristics of smart contracts can be utilized to improve data security, traceability, and transaction validation efficiency

Popular explanation of blockchain technology

Editor’s note: This article is from Orange Book (ID: chengpishu), authored by “Mars Finance”, and reprinted by the Daily Planet Daily with authorization The concept of blockchain is very simple, it is a distributed database system – a decentralized method of data storage and transmission. It is a technology that encrypts, records, and permanently stores data on the network through a point-to-point approach. In this case, it can be ensured that both parties to the transaction can openly share their ownership and receive corresponding rewards. However, due to the current immaturity of blockchain, it is difficult for people to truly understand its principles and related information. And if you want to understand these things, we can use some simple examples to introduce what this “database” really is Firstly, we need to know that a database is a network maintained by multiple parties and independent of any institution, typically run by multiple nodes. When a person or group of people need to access a computer, they must use this server to access the system. That is to say, once someone controls the computer and no one else is processing his/her operation, a block or message will be generated. That’s why you don’t need to connect to your computer to read all the information. Then, you can click to view the detailed content of the entire system. In this way, even those who hold the private key can easily unlock them. But the problem is that we can’t just use our wallets to send digital currencies such as Bitcoin or Ethereum. How can we do that? This is just as simple as searching for email online, just open a link on your phone to download a new password software. If you want others to see a certain string in our email, please enter yourself directly, as they will collect sensitive information from there, such as Google, Apple, and even Facebook, and also provide their own verification code, making it easier for us to find the wrong password. Let me give a few more basic examples:

The first type is the process of obtaining personal invisible identity information through the phone, just like communication protocols on the Internet. As long as everyone does not trust each other, there is no intermediary

The second is to receive the user’s real identity information from the mobile phone, such as the ID card number and the bank license. Of course, there is also a crucial part here, which is that users cannot communicate with each other, which has led to many accounts being stolen by hackers. However, for ordinary users, this is actually a big opportunity.

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