Anyone who has come into contact with digital currency is familiar with Bitcoin. It is the ancestor of digital currency. If you bought 11,111 bitcoins with three dollars in 2111 and left them now, your value is now more than 811 million RMB. Isn't it incredible

Blockchain technology is called an epoch-making symbol after steam engine, electricity and Internet?

What is the underlying technology of Bitcoin?

It's blockchain technology, so what is blockchain technology? For example, you go to China Merchants Bank to deposit money, and you have saved 1 million yuan. One day, the banking system of China Merchants Bank was attacked by hackers, and the money in your account was transferred away by 511,111 yuan, and your deposit slip was also lost. At this time, the bank didn't want to replenish your lost money. Are you going to be crazy? Blockchain means that there are countless storage systems, and all of them have the same content. No one can modify the bills that have been produced, just like there was only one account book before, but after using blockchain, there are countless accounting books, and they are distributed in various places. More professionally, blockchain technology is a brand-new distributed infrastructure and calculation method, which uses block-chain data structure to verify and store data, uses distributed node recognition algorithm to generate and update data, uses cryptography to ensure the security of data transmission and access, and uses intelligent contracts composed of automated script codes to program and operate data.

But now is the era when digital currency is flooded, and all kinds of new digital currency issues run away with money laundering. As for the blockchain technology and enterprise chain reform advocated by the state at present, if they fall into the field, such digital currency can still be held. We know that only large companies can go public, but all companies can go online.

If you know a certain digital currency very well and know its operation, have you landed in the field to help the company carry out chain reform and technical support, otherwise,

Back to BTC, the BTC public chain is called the 1.1 era of blockchain, and it adopts the POW*** knowledge mechanism, that is, the workload proves that how much money you get depends on your effective work in mining. The better the computer performance, the more mines you will be given. The POW mechanism solves the Byzantine general problem, that is, in the case of mutual distrust, as long as many people trust, the correct operation of the system can be guaranteed. The throughput of TPS system (user concurrency) is 7 pens per second. ETH, a public chain, is called the era of blockchain 2.1. ETH put forward a new * * * knowledge mechanism POW+POS (proof of rights and interests). Simply put, the more coins you hold, the higher your rights and interests, because the more coins you hold, the longer you hold them, the less difficult your calculation will be, and the easier it will be to mine. TPS is 21 pens per second. EOS has become the public chain of 3.1, DPOS*** knowledge mechanism (Byzantine fault-tolerant proxy rights certificate) For cryptocurrency of POS mechanism, each node can create a block and get "interest" according to the individual's shareholding ratio. The block time is 3 seconds, and TPS is 5111 transactions/second.

I. blockchain technology from Bitcoin

(I) Bitcoin is a digital cryptocurrency. Bitcoin is a digital cryptocurrency, which was designed and launched by Satoshi Nakamoto on October 25th, 2119. The generation, distribution and trading mechanism of bitcoin is different from that of traditional currency. The generation, issuance and trading of traditional currency rely on the centralized dual model of central bank and commercial bank; The issuance of Bitcoin does not require a centralized financial intermediary. Bitcoin community users can issue and manage digital cryptocurrencies through the Bitcoin blockchain network. Bitcoin is issued in the golden mode, and people vividly call this process "Mining" and all nodes that provide computing power are called "Miner". At present, bitcoin mining is distributed in such a way that every miner can get 6.25 bitcoins from it. In fact, the issuing process of Bitcoin is a process of solving multiple Hash Function. The process of node mining to obtain bitcoin is realized by a large number of computer calculations to find a reasonable hash value. In short, the main goal of this process is to solve the public keys of both parties to the transaction. The solution obtained each time will be used as the initial condition for the next calculation, and the node will calculate the new result on this basis. When a node solves a group of hash values that have not been solved before, the system releases them to the whole network, and each node checks the local database. If each node finds that the solution is correct and there is no record of the solution in the database, it will confirm and record the legitimacy of the solution. When all nodes are confirmed and recorded, the node that finds the solution will be rewarded with a certain amount of bitcoin. As the lowest core technology of Bitcoin, blockchain technology comes from a seminar in the British Library in October 2114. Bitcoin is the most successful financial application of blockchain technology. It records all transaction information on the whole network in the form of public account books. With the popularization and application of Bitcoin, blockchain technology has attracted increasing attention from the financial technology community.

(2) Blockchain is a weakly centralized distributed account book protocol. Blockchain technology provides a public distributed security account book and is an open value transfer protocol. In fact, the blockchain is a weakly centralized database composed of data blocks associated by cryptographic methods, and any transaction that occurs on this blockchain network will be recorded on the blockchain system by the agreed algorithm. All nodes keep a complete data backup, including all transaction records since the formation of the blockchain system. Blockchain consists of blocks. Block is the basic storage unit of blockchain, which records all the transaction information of each node within 11 minutes. Each data block contains a transaction information, which is used to verify the validity of the information and prepare for the generation of the next block. A block consists of three parts: the address of the block, the transaction slip and the address of the previous block. When a node in the blockchain initiates a transaction, the node needs to announce the information to other nodes. This node encrypts information with private key, which can effectively prevent information forgery. Knowing the historical transaction information, the node receiving the information can judge whether the transaction is true or not by using the backup information. After successful verification, each node combines the address of the last block with the transaction information to form a new block, and Timestamp it to connect to the blockchain to complete the whole transaction process. Because each block has the address of the previous block, people can find the previous block through the address of the latter block until the initial block. Therefore, the blockchain is a complete transaction information chain composed of blocks connected according to time sequence.

(III) Characteristics of Blockchain

Blockchain is a brand-new database system with the characteristics of weak centralization, tamper resistance and inclusiveness. Among them, weak centralization and non-tampering are the core characteristics that distinguish blockchain technology from traditional technologies. These two characteristics enable the system built by blockchain technology to achieve "self-trust" through system mechanism setting.

1. weak centralization. Each node of the blockchain system keeps a complete data backup, which can effectively prevent network paralysis and data loss caused by the failure of the central server, as well as malicious attacks by hackers on a single node, thus ensuring data security. Unless someone can control more than 51% of the nodes in the system at the same time, an attack on a single node cannot affect the data content of other nodes.

2. Do not tamper with it. The blockchain system is a public ledger, and all the data of the system are publicly and transparently recorded in this ledger. All data are recorded through the network recognition algorithm, and every new information based on blockchain transaction will be released to the whole network. After being confirmed and saved by each node one by one, the received transaction information will form a new block, ensuring that the blockchain system information can not be tampered with, falsified and traceable. At the same time, blockchain technology uses random hash algorithm and timestamp technology, and nodes will be stamped with timestamp when verifying, providing proof of transaction time and ensuring the uniqueness of the same transaction. If you want to modify the transaction information of a block, you must complete all the information of the block and the following blocks. Because the modified hash value will be different from the original hash value and cannot be confirmed by other nodes, the modification will be invalid and the difficulty of tampering with information will be greatly improved. Therefore, blockchain technology can provide reliable credit guarantee for transactions. Its non-tamperability provides an effective solution to contract conflicts, and can be applied to the fields of storing and notarizing permanent records and ensuring the authenticity of information. Such as notarization of property ownership.

3. inclusiveness. Blockchain technology is based on algorithms, which abandons the cultural and economic differences of different countries and enables institutions in various countries to establish a unified credit system. In addition, blockchain technology is open source and enjoyed by the outside world: any institution or individual who enters the blockchain can not only submit records, but also get a complete record of historical transactions of the system and confirm the rights of the information owner; At the same time, because the blockchain system runs on the Internet, any institution or individual that meets the requirements can join the system in the form of nodes.

4. Traceability, openness and transparency.

Because blockchain or digital currency involves more knowledge and applications, interested friends can pay attention to it, and I will sort out and publish more knowledge about blockchain and digital currency.