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This article introduces the relevant knowledge of "what are the advantages and disadvantages of blockchain technology". In the operation of actual cases, many people will encounter such a dilemma, so let the editor lead you to learn how to deal with these situations. I hope you can read it carefully and be able to achieve something!

The emergence of blockchain technology has fundamentally changed the way of centralized credit creation and realized the normal operation system. The efficiency of interworking is improved and the cost is reduced. Blockchain relies on the existence and development of the Internet, high efficiency is bound to replace low efficiency, social development is inseparable from high efficiency and trust, blockchain technology solves the problem of trust and efficiency at the same time, so it is a general trend to be accepted by the public and develop rapidly!

The so-called blockchain technology, referred to as BT (Blockchain technology), also known as distributed ledger technology, is an Internet database technology, which is characterized by decentralization, openness and transparency, so that everyone can participate in database records. Blockchain (Blockchain) is an innovative application mode of computer technology in the Internet era, such as distributed data storage, point-to-point transmission, consensus mechanism, encryption algorithm and so on. In recent years, the development and application of blockchain is of great significance to technological innovation and industrial revolution. This experience introduces the relevant knowledge of blockchain technology.

What are the characteristics of blockchain?

1. Distributed decentralized storage

By using distributed recording of all transaction information of the whole network, blockchain finally converges to form a "public ledger". Each node in the block chain network has the function of accounting, and each node can observe the whole general ledger.

2. The information is public and the content cannot be tampered with.

The block chain data is jointly maintained by each node, and each node participating in the maintenance can copy a copy of the complete database; at the same time, the basic information can be traced back and can not be deleted. The key to its agreement and operation mechanism is to mark the "timestamp", and all nodes keep accounts together every ten minutes, foreign exchange www.gendan5.com confirmation information, to form an account database "Block", which records all correct and non-repetitive information of the whole network in ten minutes, that is, a "block".

3. Trust sharing function

Effectively realize credit sharing. An article in the Economist called the blockchain a "trust-creating" machine. This shows that the blockchain can establish a decentralized trust mechanism at the technical level. The transmission of value in the real world often needs to be based on a trust mechanism to confirm rights and keep accounts, depending on a centralized organization. For example, banks, stock exchanges and so on, this mode of accounting is well known. However, blockchain can achieve low-cost point-to-point value delivery, thus reducing the cost of trust.

Highlight the advantages:

The information cannot be tampered with.

Once the information is verified and added to the blockchain, it will be stored permanently, and unless more than 51% of the nodes in the system can be controlled at the same time, the modification to the database on a single node is invalid, so the data stability and reliability of the blockchain are extremely high.

Disadvantages of blockchain

1. No privacy

In the blockchain public chain, each participant can get a complete backup of data, and all transaction data are open and transparent. If you want to know the accounts and trading information of some commercial organizations, you can know all his wealth, as well as important assets and trade secrets, and there is no privacy to speak of.

two。 Security problem

One of the major characteristics of blockchain technology is irreversible and unforgeable, but the premise is that the private key is secure. The private key is generated and kept by the user without the participation of a third party. Once the private key is lost, nothing can be done on the assets of the account. With the development of new computing technologies such as quantum computers, asymmetric encryption algorithms have a certain possibility of cracking in the future, which is also a potential security threat to block chain technology.

3. Delay of data confirmation

In the financial block chain, the time for data confirmation is relatively long. Take Bitcoin, for example. The validity of the current transaction is affected by network transmission. the exact time of each Bitcoin transaction is about 10 minutes, and it takes an hour for six confirmations. Therefore, the transaction data of the block chain is delayed.

The above is only an application field of block chain technology, and the historical record of block chain technology database is also a major feature. Because of this, they are often called eternal databases. In other words, changing the entries in the database will be a huge project because it needs to change all the subsequent data on each node. Therefore, blockchain technology is more like a recording system than a database. Blockchain technology, a shared, transparent and real recording system, also makes future business cooperation healthy, efficient and convenient! At the same time, blockchain technology will also be more widely and deeply applied in various fields!

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