Compare the views of tecoin and blockchain
blockchain technology is a new technology derived from the development of bitcoin economy, blockchain technology can effectively serve the bitcoin economy , they are interrelated. Bitcoin is a kind of virtual currency, which only circulates in a specific network economic environment, blockchain technology can not only be applied to the economy, but also can be used in all walks of life , which is their difference
Blockchain technologybecause blockchain technology is still a new proct at present, it has no accurate or definite definition and concept. In short, blockchain technology is a mode of data encryption management, which can protect data to a great extent. Blockchain technology is characterized by decentralization, openness, independence, security and anonymity. Its characteristics well adapt to the requirements of information protection and information disclosure in all walks of life. On the one hand, it ensures the security of data and avoids the interference of subjective emotions and system failures. On the other hand, data indivials can decide whether to hide their detailed information in the group to the greatest extent, so as to achieve the purpose of privacy protection
At the same time, there is no doubt that the blockchain technology is still in the state of preliminary development. The social understanding of it is not deep enough, and scholars are still in the stage of continuous exploration. Through the correct use, blockchain technology will bring many positive effects to the societybitcoin is regarded as the first generation application of blockchain technology and the most thorough application of its code testing. However, without bitcoin, there might not be so many people who knew about blockchain now. It can be said that bitcoin has greatly improved the "exposure" of blockchain technology
later, people graally found that the application value of blockchain is far more than bitcoin, but can be applied to many instries to solve the pain points of many instries; The idea of blockchain can also provide a lot of reference for the financial field, which is the real reason for the outbreak of blockchain.
blockchain technology is not only the underlying technology of bitcoin, but also the core and infrastructure of bitcoin bitcoin has been running without any centralized organization operation and management. Later, bitcoin technology was abstracted, which was called blockchain technology or distributed ledger technology
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disadvantages of blockchain technology applied to digital currency:
first, there is no circulation management organization for "decentralization" blockchain technology is essentially a distributed database system with one-way linked list logic structure and P2P network design mode, which determines that there is no unified central control system for virtual currency based on blockchain technology
Second, it is difficult to effectively control the quantity supply the circulation of virtual currency based on blockchain technology is fixed, and according to Fisher Equation, the total transaction volume of the whole society under a certain price level in a certain period has a certain proportion with the required nominal currency volume, while the constant currency volume obviously can not meet the requirements of the growing total price of social goods Thirdly, "mining mechanism" is difficult to create recognized value bitcoin itself has no value and no national credit support. Some people think that "by continuously consuming computing power and energy to inject value into virtual currency", but it is obviously not the most efficient choice to consume millions of calculations in order to find a hash value that meets the requirements Fourthly, procers and early holders are easy to get high seigniorage any virtual currency based on blockchain technology is held by a few people at the initial stage of its development. Take bitcoin as an example. At first, bitcoin was only a proct of a few people's game. The first bitcoin purchase in May 2010 was $10000 BTC's purchase of $25 pizza. The first bitcoin transaction completed in July of the same year was $0.04/btcPlease refer to the article I wrote myself
tell you what blockchain is in three minutes
blockchain allows full name to participate in bookkeeping, which makes full name bookkeeping more stable. Since there is no specific bookkeeper in the system, any node in the system will not be affected if it is lost or destroyed Have you ever come across an error code 404 on a webpage?) Full name bookkeeping is safer! The system stipulates that the same number of accounting books with the largest number are true accounting books, and a small number of accounting books that are inconsistent with other accounting books are false accounting books, which makes it difficult for blockchain with enough nodes to be attacked or tampered with. These nodes are distributed in any corner of the Internet, and cannot be tampered with unless you are God and can control most computers in the world. Therefore, blockchain is considered to be the most secure way of data management in history. Full name bookkeeping is more efficient. Because there is no centralized intermediary, automatic operation through pre-set proceres can greatly rece costs and improve efficiency, and ensure that the process and content of accounting records are open and transparent
bitcoin is just an experimental application of blockchain technology in the field of payment. Blockchain can also be used in broader fields, such as medical treatment, Internet of things, security authentication, social networking and artificial intelligence
The Economist calls blockchain a "trust machine" and believes that it will have a huge and far-reaching impact on global finance and even social structure. To sum up in one sentence, block technology is a way that all participants in the system can cooperate to record logs through cryptography without mutual trust
this is blockchain