Where is the bitcoin ledger
Zhejiang Xinyun blockchain Technology Co., Ltd. is a limited liability company (invested or controlled by natural person) registered in Ouhai District, Wenzhou City, Zhejiang Province on April 2, 2018. Its registered address is located in room B309, 46-54 Dongfang Road, Ouhai Economic Development Zone, Wenzhou City, Zhejiang Province (trial area of cloud sharing creative space)
the unified social credit code / registration number of Zhejiang Xinyun blockchain Technology Co., Ltd. is 91330304ma2cnkpx00, and the enterprise legal person is Xiao Kang. At present, the enterprise is in business
Zhejiang Xinyun blockchain Technology Co., Ltd., within the province, the current registered capital of the enterprise is general
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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
the problem of legal currency is that when the financial crisis occurs, the legal currency depreciates and the social wealth shrinks. When the old legal currency collapses, people will rush to bitcoin and take bitcoin as a new haven for assets - "the 21st century version of gold", so Nakamoto and these people realize this through technical means
first, to be a digital currency, we must have a digital account book. But if the database is in the hands of Zhongben Cong, it is easy to be tampered with. He thinks that everyone can participate in bookkeeping and obtain the account book. This is a very important distributed account book in the blockchain, and anyone can download this account book. In this way, the account book is not in one person's hands, ensuring its security and feasibility.
Second, even if the account book is not in the same person's hands, "it's very easy to modify it". Why can bitcoin be permanent, irreversible, open and transparent? It's reasonable that all blockchain based applications can do this, but at present only bitcoin can. There are four reasons:
1
because bitcoin is a record based on time stream, time can not be reversed, so bitcoin transaction record is irreversible. At the same time, bitcoin is a double entry ledger, and the hash value of the last ten minutes' transaction record is recorded in the next ten minutes' block. Therefore, the modification of any previous transaction record will lead to the change of all subsequent transaction records, so as to ensure its traceability. Secondly, every transaction is made public on the whole network. Everyone can see "a 100 bitcoin transaction from address a to address B" and verify that there is no repeated payment for this transaction. Only legitimate transactions can be included in the block, and then all people can view it again. Therefore, the whole network is open and transparent
2. Computing power is decentralized and huge
in the first place, Nakamoto g his own mine for one year. In the next seven years, tens of millions of miners all over the world participated in the process of mining. Therefore, if you want to modify the transaction records, only 51% of the computing power of the whole network can be achieved, which is almost impossible
3. Transaction record storage is decentralized
a block is generated every ten minutes, and the bookkeeping right may be snatched by people anywhere in the world. Bitcoin calculates a value through the algorithm, which is the number of hash collisions. If the "value" is calculated, it will be given the bookkeeping right to obtain bitcoin. There is a consensus that whoever calculates the value first will be charged, Avoiding the right to keep accounts is always in the hands of one person. This is called mining, so transaction records may be stored around the world, rather than a central organization, such as Alipay.
4. Decentralization of rule making
anyone can propose the modification or change of bitcoin protocol and write the corresponding code, but whether it is adopted or not depends on whether it can have more than 51% of the computing power of the whole network
the above four points ensure that bitcoin is permanent, irreversible and transparent to the whole network.
bitcoin is a consensus network, contributing to a new payment system and a fully digital currency. It is the first decentralized peer-to-peer payment network, which is controlled by its users without a central management organization or middleman. From the user's point of view, bitcoin is much like Internet cash. Bitcoin can also be regarded as the most outstanding three style bookkeeping system
Ruitai coin, Qianjin card and doggy coin are all digital currencies developed based on blockchain technology.