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How to analyze the working principle of Block chain Technology

2025-03-01 Update From: SLTechnology News&Howtos shulou NAV: SLTechnology News&Howtos > Development >

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This article will explain in detail how to analyze the working principle of blockchain technology, and the content of the article is of high quality, so the editor will share it with you for reference. I hope you will have a certain understanding of the relevant knowledge after reading this article.

I believe you have all heard of blockchain technology, although blockchain has been very popular in recent years, but some people still think that blockchain is equivalent to bitcoin, in fact, this is a very narrow understanding. So what exactly is blockchain technology? How does it work? To put it simply, block chain technology can be regarded as a powerful data processing technology. Let's analyze the blockchain technology in detail.

First, understand the block chain technology.

In essence, the block chain book is a decentralized database, which is a kind of chain data structure which combines the data blocks in a sequential way according to the time order, and the distributed account books that can not be tampered and forged are guaranteed by cryptography.

1. Decentralization

Decentralization, as the name implies, is to get rid of these central credit carriers, get rid of the middleman to earn the difference, and realize person-to-person (peer-to-peer) transactions. Of course, this is only the centralization of financial payment, which is applied to other nodes (the above businesses and consumers can be understood as a node). In a system with many nodes, each node has the characteristics of a high degree of autonomy. Nodes can be freely connected to each other to form new connection units. Any node may become a phased center, but it does not have a mandatory central control function. The influence between nodes will form a nonlinear causal relationship through the network. This kind of open, flat and equal system phenomenon or structure is called decentralization.

2. Distributed ledger

It is a database that is shared, replicated, and synchronized among network members. Distributed ledgers record transactions between network participants, such as the exchange of assets or data. This sharing of books reduces the cost of time and expenses incurred by mediating different books. In essence, it is an asset database that can be shared among multiple sites, different geographical locations, or a network of multiple organizations. Participants in a network can get a copy of a unique, real ledger. Any changes in the ledger will be reflected in all copies, and the reaction time will be in minutes or even seconds. The assets stored in this ledger can be financial, legally defined, physical or electronic.

3. Bitcoin

Bitcoin is a virtual encrypted digital currency in the form of P2P. Peer-to-peer transmission means a decentralized payment system. Unlike all currencies, Bitcoin does not rely on specific monetary institutions to issue, it is generated through a large number of calculations according to specific algorithms. Bitcoin economy uses a distributed database composed of many nodes in the entire P2P network to confirm and record all transactions, and uses cryptographic design to ensure the security of all aspects of money circulation. The biggest difference between Bitcoin and other virtual currencies is that its total quantity is very limited and has a strong scarcity.

II. Classification of block chain technology

1. Common block chain

The common blockchain is fully distributed, with all the functions of bitcoin, but it requires enough cost to keep the system running and relies on built-in incentives. At present, if it is the same as the bitcoin algorithm ethane, only the bitcoin in the common blockchain is safe enough; there is no built-in reward, ethane; and it is easy to concentrate on attacks (such as raiding a large number of graphics cards, etc.). The more valuable the data you are trying to save on the common block chain, the more you need to check the security and security of transaction costs and system scalability issues.

2. Collaborative block chain

The cooperative block chain can make very good connections between nodes, maintain operations at the lowest cost, provide fast transaction processing and low transaction costs, and have good scalability (but node scalability) the increase will be reduced again, and the data can have some privacy. Developers have the ability to change protocols according to consensus, and there is no bitcoin hard bifurcation problem, but it also means that everyone can tamper with data under consensus. The collaborative blockchain also means that the application of the blockchain is not too widespread and lacks the network communication effect of bitcoin.

3. Private block chain

Private blockchain is actually a very confusing term. Such a system is nothing more than a shared database in the traditional sense, using Merkle Tree and other methods to try to interpret verifiable data. There is a mature solution for such a database, and the Merkle tree is just one of many mature solutions. These projects are easy to "forever". Because all users have the final say, there is no immutable function in the data and there is no guarantee of third parties. As a result, there are many private blockchains by attaching to Bitcoin, such as periodically recording system snapshots into Bitcoin.

III. Application of block chain technology

1. Art industry

Ascribe allows artists to use blockchain technology to claim ownership and issue numberable, limited edition works that can be targeted at any type of work in digital form. It even includes a market where artists can buy and sell through their websites without any intermediary services.

2. Legal profession

BitProof is the most advanced among the many document timestamp applications that have emerged in recent years, which will make the traditional notarization become a thing of the past. BitProof offers more services than free versions such as Blocksgin and OriginStaemp, including one for intellectual property. Interestingly, BitProof recently partnered with an IT school in San Francisco to put their students' diplomas on the blockchain, completely redefining how diplomas and student certificates are processed and used.

3. Development industry

Colu is the first company to allow other companies to issue digital assets, and many people are impressed by their ability to "tokenize" various assets. Although the free bitcoin wallet Counerparty also allows simple tokens to be issued and traded between other wallet holders, Colu tokens can be set in a variety of states and types, can be detached from or returned to the system, and can be stored on BitTorrent's network when the data is stored on the blockchain.

4. Real estate industry

They plan to modernize the entire industrial chain process and solve the problems faced by everyone in participating in real estate, including naming process, land registration, agency agency, etc.

On how to analyze the working principle of blockchain technology is shared here, I hope the above content can be of some help to you, can learn more knowledge. If you think the article is good, you can share it for more people to see.

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