Blockchain for BTC transaction
Publish: 2021-05-07 06:08:42
1. bitcoin P2P technology is a virtual encrypted digital currency. That's right. It's more essential. The term blockchain came into being after the birth of bitcoin, because bitcoin opened the door to the blockchain field. The popularity of bitcoin has attracted more and more people's attention to blockchain technology. Before the birth of blockchain, many veteran people used to call it P2P, which is probably the case. Many of the world's leading exchanges, such as okex, have developed some functions based on blockchain technology. You can learn more about okex platform.
2. Bitcoin is the practical application of blockchain
when the financial crisis broke out in 2008, a pseudonym named "Zhongben cong" published a paper to improve the story of Lao Wangcun based on blockchain Technology:
1) because bitcoin is global circulation, the "Yuan" in the story was changed into BTC, 100 yuan = 100btc
2) anonymity of bitcoin, Everyone in the story will announce how much money you have in your pocket to the world in the way of accounting. Presumably, everyone is not willing to put it into the account. Everyone in the bitcoin network has a wallet address, which is a code composed of several binary numbers
3) improvement of transaction mechanism and bookkeeping optimization
What are the current application scenarios of bitcoin< At present, the total market value of bitcoin is 967.236 billion, accounting for 50% of the total market value of cryptocurrency. If you are a 20-50-year-old Chinese and have a stable job, you know the news of bitcoin rising from 3000 to 8000 in half a month on the Internet hot search. At this time, you happen to see my article. Then you must think of one thing: should this thing be invested? And the risk
in my opinion, bitcoin is more suitable for fixed investment (if you invest a part of your salary in bitcoin every month, if you get 4000 salary, you can invest 300 at a fixed time point every month). In the cryptocurrency trading market, some people sell their houses because of bitcoin's sudden wealth, while others sell their houses because of speculation in bitcoin, The total market value of the cryptocurrency trading market is not large. There are indeed some experts, big and small, pulling the market, and the change is unpredictable. However, throughout the development of the past 10 years, cryptocurrency still presents a state of benign development, and more and more countries recognize it.
when the financial crisis broke out in 2008, a pseudonym named "Zhongben cong" published a paper to improve the story of Lao Wangcun based on blockchain Technology:
1) because bitcoin is global circulation, the "Yuan" in the story was changed into BTC, 100 yuan = 100btc
2) anonymity of bitcoin, Everyone in the story will announce how much money you have in your pocket to the world in the way of accounting. Presumably, everyone is not willing to put it into the account. Everyone in the bitcoin network has a wallet address, which is a code composed of several binary numbers
3) improvement of transaction mechanism and bookkeeping optimization
What are the current application scenarios of bitcoin< At present, the total market value of bitcoin is 967.236 billion, accounting for 50% of the total market value of cryptocurrency. If you are a 20-50-year-old Chinese and have a stable job, you know the news of bitcoin rising from 3000 to 8000 in half a month on the Internet hot search. At this time, you happen to see my article. Then you must think of one thing: should this thing be invested? And the risk
in my opinion, bitcoin is more suitable for fixed investment (if you invest a part of your salary in bitcoin every month, if you get 4000 salary, you can invest 300 at a fixed time point every month). In the cryptocurrency trading market, some people sell their houses because of bitcoin's sudden wealth, while others sell their houses because of speculation in bitcoin, The total market value of the cryptocurrency trading market is not large. There are indeed some experts, big and small, pulling the market, and the change is unpredictable. However, throughout the development of the past 10 years, cryptocurrency still presents a state of benign development, and more and more countries recognize it.
3. Blockchain is a disruptive technology. In the case of Internet supporting the release and digital transmission of information, blockchain can identify property ownership, making it unique and traceable
at the same time, it can provide mutual trust for transactions by using trusted self-executive code, so as to rece uncertainty and promote digital transfer and asset transactions
bitcoin is the most well-known blockchain as an encryption currency that uses blockchain technology to realize alternative payment. Bitcoin is a kind of unlicensed blockchain, also known as public blockchain, which does not restrict the identity of users who consume bitcoin or participate in verifying the authenticity of transfer blocks in the blockchain (an energy intensive process, also known as "mining"). These miners get token, or bitcoin, in return, and given that everyone can view the block (though anonymously), the blockchain itself is somewhat transparent
bitcoin is controversial and banned by many countries e to user anonymity to a large extent. However, it is worth noting that the anonymity and energy use of bitcoin are its own characteristics, not the characteristics of the whole blockchain technology.
at the same time, it can provide mutual trust for transactions by using trusted self-executive code, so as to rece uncertainty and promote digital transfer and asset transactions
bitcoin is the most well-known blockchain as an encryption currency that uses blockchain technology to realize alternative payment. Bitcoin is a kind of unlicensed blockchain, also known as public blockchain, which does not restrict the identity of users who consume bitcoin or participate in verifying the authenticity of transfer blocks in the blockchain (an energy intensive process, also known as "mining"). These miners get token, or bitcoin, in return, and given that everyone can view the block (though anonymously), the blockchain itself is somewhat transparent
bitcoin is controversial and banned by many countries e to user anonymity to a large extent. However, it is worth noting that the anonymity and energy use of bitcoin are its own characteristics, not the characteristics of the whole blockchain technology.
4.
Bitcoin is a virtual currency. Blockchain is the node to calculate virtual currency transactions. In short, blockchain technology ensures the normal operation of bitcoin system. How to describe the principle of blockchain. That's what the ledger means. I don't know if it's easy to use. It's said that it's quite encouraging. After all, it takes ten minutes to calculate the database account book in this area
but the bitcoin market is unstable recently. Let's have a look. Maybe I'll see you on the roof
5. Bitcoin market can now be seen on professional software, such as the coin card I use now. I think it's very good. Most of the data are available and updated in a timely manner. I recommend you to download and use it
6. Bitcoin is distributed accounting
bookkeeping is done by miners
generally speaking, the correct result of Distributed Accounting is decided by the vote of "miners"
if you have a 51% pool, you can theoretically void any transaction (roll back). This is called a 51% attack
now bitcoin miners are distributed all over the world. The world's largest mine pool is in China, and the person in charge of bitcoin has promised that its total power will not exceed 50% (now about 30%), so there is no possibility of 51% attack for the time being
but it can't be said to conquer
bookkeeping is done by miners
generally speaking, the correct result of Distributed Accounting is decided by the vote of "miners"
if you have a 51% pool, you can theoretically void any transaction (roll back). This is called a 51% attack
now bitcoin miners are distributed all over the world. The world's largest mine pool is in China, and the person in charge of bitcoin has promised that its total power will not exceed 50% (now about 30%), so there is no possibility of 51% attack for the time being
but it can't be said to conquer
7. Looking at the operation process of blockchain from a transaction:
in bitcoin blockchain, when a transaction is generated through a node or wallet, it needs to be transmitted to other nodes for verification. The method is to encrypt the transaction data by digital signature and obtain a unique hash value representing the transaction by hash algorithm, and then broadcast the hash value to other participating nodes in bitcoin blockchain network for verification. Hash algorithm is to map any length of binary value to a fixed length of smaller binary value, then the smaller binary value is called hash value. Hash value is a unique and compact numerical representation of a piece of data. If you hash a piece of plaintext and change only one letter of that piece, the subsequent hashes will proce different values. It is computationally impossible to find two different inputs hashed to the same value
when a new transaction is generated, it will be broadcast to other participating nodes in the blockchain network first. Each node will put several new transactions into the block, and each node will collect several unverified transaction hash values into the block. Each block can contain hundreds or thousands of transactions
each node calculates the workload proof to decide who can verify the transaction, and the node with the fastest result will verify the transaction, which is a consensus approach. The node that obtains the verification right will broadcast the block to all nodes, and the node that completes the pow the fastest will broadcast its block to other nodes. Each node verifies and connects the new block. Other nodes will confirm whether the transaction contained in this block is valid. After confirming that it has not been repeatedly spent and has a valid digital signature, they will accept the block. At this time, the block will be formally connected to the blockchain and the data cannot be modified. Once all nodes accept the block, the block that did not finish the pow calculation will be invalid, and each node will rebuild a block to continue the next POW calculation
it can be seen that the principle of blockchain is not complicated, and its wide application is natural. Many companies have achieved fruitful results in the process of applying blockchain principles to reality. Like bitcoin, although the ID of the participant is anonymous, the data on the blockchain is public by default. The advantages brought by this openness are unprecedented, such as the ability to resist attacks, the ability to resist the autocratic system of capital control. It is open and transparent while ensuring security, and the account balance of all participants and all transaction records can be seen by people. Until now, we are still surprised by this, because this security method is so novel. However, in the seven-year history of bitcoin, no one has broken this security practically.
in bitcoin blockchain, when a transaction is generated through a node or wallet, it needs to be transmitted to other nodes for verification. The method is to encrypt the transaction data by digital signature and obtain a unique hash value representing the transaction by hash algorithm, and then broadcast the hash value to other participating nodes in bitcoin blockchain network for verification. Hash algorithm is to map any length of binary value to a fixed length of smaller binary value, then the smaller binary value is called hash value. Hash value is a unique and compact numerical representation of a piece of data. If you hash a piece of plaintext and change only one letter of that piece, the subsequent hashes will proce different values. It is computationally impossible to find two different inputs hashed to the same value
when a new transaction is generated, it will be broadcast to other participating nodes in the blockchain network first. Each node will put several new transactions into the block, and each node will collect several unverified transaction hash values into the block. Each block can contain hundreds or thousands of transactions
each node calculates the workload proof to decide who can verify the transaction, and the node with the fastest result will verify the transaction, which is a consensus approach. The node that obtains the verification right will broadcast the block to all nodes, and the node that completes the pow the fastest will broadcast its block to other nodes. Each node verifies and connects the new block. Other nodes will confirm whether the transaction contained in this block is valid. After confirming that it has not been repeatedly spent and has a valid digital signature, they will accept the block. At this time, the block will be formally connected to the blockchain and the data cannot be modified. Once all nodes accept the block, the block that did not finish the pow calculation will be invalid, and each node will rebuild a block to continue the next POW calculation
it can be seen that the principle of blockchain is not complicated, and its wide application is natural. Many companies have achieved fruitful results in the process of applying blockchain principles to reality. Like bitcoin, although the ID of the participant is anonymous, the data on the blockchain is public by default. The advantages brought by this openness are unprecedented, such as the ability to resist attacks, the ability to resist the autocratic system of capital control. It is open and transparent while ensuring security, and the account balance of all participants and all transaction records can be seen by people. Until now, we are still surprised by this, because this security method is so novel. However, in the seven-year history of bitcoin, no one has broken this security practically.
8. One or two sentences are not clear, but this is really not too complicated. You will graally understand it in the process of bitcoin trading. Generally, large exchanges like okex provide beginners' I tutorial. I recommend you to have a look. Are you satisfied with my answer?
9. Blockchain may affect all walks of life in the future, such as contracts, laws, exchanges and so on. Ruitai coin is a socialization attempt of blockchain digital asset.
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