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This article mainly introduces "What is blockchain". In daily operation, I believe many people have doubts about what blockchain is. Xiaobian consulted all kinds of materials and sorted out simple and easy operation methods. I hope it will help you answer the doubts about "What is blockchain"! Next, please follow the small series to learn together!

I. Origin of blockchain

The blockchain concept was first derived from Bitcoin.

Bitcoin was born in 2008 and was first proposed by a man named Satoshi Nakamoto, who is very mysterious and has no accurate information about him. Shortly after it was proposed, Bitcoin was born.

The core technology of Bitcoin and other digital currencies is called blockchain technology. Blockchain is a data structure or data storage method in information technology. It innovatively combines cryptography, peer-to-peer (P2P) networks, distributed deployment and other technologies, which can be called an epoch-making concept.

II. Overview of blockchain technology

1.1 Structure of blockchain

As shown below:

A typical blockchain is composed of a series of blocks consisting of Pre-Hash, Block Time, and Record.

A forewarning, similar to a seal on a file, ensures that the contents of a block are not altered. Each block of the blockchain, through computer operations, forms a Hash value (i.e. seal) and stores it in the second block's predecessor. This Hash value is unique, and the contents of the block change, the Hash value will also change, so that the contents of the block cannot be changed. The cleverness of blockchain design lies in that the latter block holds the Hash value of the previous block, and blocks are linked to each other to form a blockchain.

Block time is used to record the time at which a block is formed.

Records are used to record all the information that needs to be saved. They can be transaction information, a sentence or other information.

1.2 operation mechanism

In addition to sophisticated structural design, blockchain also needs a rigorous mechanism to ensure the stable operation of blockchain, which is also the core innovation point of blockchain and solves the trust problem.

The blockchain adopts a distributed storage architecture, and the blockchain data is completely stored on all nodes of the blockchain network. The figurative metaphor is that I make countless copies of a file and save them in different parts of the world. Anyone who wants to tamper with the record must modify the record of each node. In the case of enough nodes, this tampering cannot be realized. This is the secret of tamper-proof blockchain.

1.3 mining

As mentioned earlier, the blockchain is a block chain, how is the latter block generated?

In order to add records to the blockchain, one must meet the requirements specified by the blockchain and find blocks that meet the standards, a process commonly known as mining. Because there are many people mining, in order to understand block chain synchronization and counterfeit chain attacks, it is necessary to increase the difficulty of mining. The method to increase the difficulty is called POW(Proof of Work) algorithm. If the specific algorithm is interested, you can search it. This algorithm turned a simple operation into hundreds of millions of repeated operations, greatly increasing the difficulty of the operation.

The mining process is iterative and lucky, the first miner to mine this block will inform all nodes, and put this block on the chain, miners will receive rewards (i.e. various digital currencies), all miners start computing the next block again. Because graphics cards are very good at repeating simple calculations, they are loved by absentees, resulting in the price of high-end graphics cards rising.

Of course, it should be noted here that POW algorithm and even mining process are not necessary, POW algorithm is a consensus algorithm, other consensus algorithms can also be used for blockchain.

1.4 Bitcoin (digital currency) and blockchain relationship

Bitcoin and other digital currencies are applications based on blockchain technology. Bitcoin has formulated a set of rules. Every block calculated will obtain a certain amount of bitcoin. Each block records bitcoin and bitcoin transaction information. In layman's terms, Bitcoin is a record on the blockchain.

1.5 Blockchain Technology Summary

After the above analysis, we summarize several characteristics of blockchain:

First, blockchain can be used to store data or information;

Second, the information stored in the blockchain can hardly be changed (unless the block Hash is modified one by one);

Third, every node of the blockchain is equal, and there is no difference between the control end and the client end, that is, what is usually called decentralization.

II. Other technologies related to blockchain

2.1 smart contracts

Smart contract technology, proposed in the 1990s, is an automated computer-based program based on pre-formulated protocols that require no human intervention. Smart contracts effectively reduce transaction costs. Commonly speaking, we shop on the network, need merchants, buyers and Alipay three parties to participate, if the transaction process of merchants and buyers is credible enough, then similar to Alipay third parties do not need to participate, greatly saving transaction costs.

Because the problem of trust cannot be solved, smart contracts only stay in theory, and blockchain technology just makes up for the lack of trust.

2.2 multiple consensus algorithm

Consensus algorithms, also known as consensus mechanisms, are used to solve data synchronization problems in distributed deployments. For example, in the above blockchain network, a node receives two block input requests at the same time, which node should join, which needs consensus algorithm to judge. Common consensus algorithms include: Proof of authority, Proof of personality, Proof of space, Proof of stake, Proof of work, etc., which are not specifically introduced.

2.3 Distributed fault tolerance mechanisms

Fault-tolerant mechanism is to solve the problems of data error and malicious attack in distributed node network.

III. Application of blockchain

At present, the most important application of blockchain is digital currency such as bitcoin. The value of blockchain has not been fully exploited. Under foreseeable circumstances, blockchain is not suitable for more detailed application scenarios, such as online shopping, transfer, etc., but plays a role in solving trust between organizations or institutions.

The first is to resolve the issue of international trust. Establish equal trust relations in cross-border trade, international cooperation, currency settlement and stock futures trading to further promote the development of globalization. For example, some experts put forward that "push blockchain first in the scope of One Belt and One Road."

The second is blockchain-based data sharing. Take government data sharing as an example, establish government blockchain within the government. Traditional data sharing needs to build complex exchange mechanism, while blockchain-based sharing mechanism can accurately record the information of citizens and legal persons. Each department only needs to establish local nodes and join the blockchain network to update the records of its own department to the chain. Node departments on the blockchain can obtain all shared data based on intelligent contracts without complicated confirmation and review.

Third, as a certificate deposit, in intellectual property rights, transaction records, business registration and other scenarios, the block chain will be used as certificate deposit evidence. Under the current universal application, the so-called blockchain is dominated by strong rights parties, lacking multi-party participation to form consensus, and it is difficult to form trust. Alliance chain based on multi-party mutual trust and co-construction and sharing is the future application direction.

IV. Blockchain Development Policy

At the policy level, blockchain technology has been elevated to unprecedented heights.

On the afternoon of October 24,2019, the Political Bureau of the CPC Central Committee conducted the 18th collective study on the status quo and trends of blockchain technology development. Emphasize that the integrated application of blockchain technology plays an important role in new technological innovation and industrial transformation. We should take blockchain as an important breakthrough point for independent innovation of core technologies, clarify the main direction of attack, increase investment, strive to conquer a number of key core technologies, and accelerate the development of blockchain technology and industrial innovation.

In the Outline (Draft) of the 14th Five-Year Plan, blockchain is also included in the plan: "Cultivate and strengthen emerging digital industries such as artificial intelligence, big data, blockchain, cloud computing, network security, etc., and upgrade the industrial level of communication equipment, core electronic components, key software, etc. "

"Promote technological innovations such as intelligent contracts, multiple consensus algorithms, asymmetric encryption algorithms, distributed fault tolerance mechanisms, etc., focus on alliance chains to develop blockchain service platforms and application schemes in financial science and technology, supply chain management, government services and other fields, and improve supervision mechanisms. "

It should be noted that the national blockchain application adopts the filing system. According to the Regulations on the Administration of Blockchain Information Service,"the blockchain information service provider shall fill in the name, service category, service form, application field, server address and other information of the service provider through the blockchain information service filing management system of the State Internet Information Office within ten working days from the date of providing the service, and fulfill the filing procedures."

V. Summary

1. Blockchain is a chained storage structure that can be used to record data, similar to archives or notepads.

2. Blockchain based on trust and consensus, data can not be changed, just like the file is invalid.

3. Bitcoin is an application based on blockchain technology and cannot be confused with blockchain.

4. Blockchain technology is a digital technology highly supported by China at present, and it is also the future development direction.

5. In the future, blockchain technology will be widely used in international cooperation, data sharing, financial transactions, trusted authentication and other fields, and it will also be the password for wealth growth.

6. The current blockchain application is very immature, let you join the blockchain to make a fortune must be a scam.

At this point, the study of "what is blockchain" is over, hoping to solve everyone's doubts. Theory and practice can better match to help everyone learn, go and try it! If you want to continue learning more relevant knowledge, please continue to pay attention to the website, Xiaobian will continue to strive to bring more practical articles for everyone!

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