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The role of blockchain encryption algorithm
Publish: 2021-04-29 07:34:33
1. blockchain encrypts the transaction information in a transaction block by hash algorithm, and compresses the information into a hash string composed of a string of numbers and letters
jinwowo group analyzes the functions of its hash algorithm as follows:
the hash value of the blockchain can uniquely and accurately identify a block. Any node in the blockchain obtains the hash value of the block through simple hash calculation, and the calculated hash value does not change, which means that the information in the blockchain has not been tampered with.
jinwowo group analyzes the functions of its hash algorithm as follows:
the hash value of the blockchain can uniquely and accurately identify a block. Any node in the blockchain obtains the hash value of the block through simple hash calculation, and the calculated hash value does not change, which means that the information in the blockchain has not been tampered with.
2. Improving network security
blockchain is a decentralized and distributed electronic classified accounting method based on the model of providing absolute security and trust. Using encryption technology, transactions are recorded chronologically and publicly, and each block has a timestamp and a link to the previous block. Importantly, these digital "blocks" can only be updated through the consensus of all participants, and data interception, modification and deletion are almost impossible.
blockchain is a decentralized and distributed electronic classified accounting method based on the model of providing absolute security and trust. Using encryption technology, transactions are recorded chronologically and publicly, and each block has a timestamp and a link to the previous block. Importantly, these digital "blocks" can only be updated through the consensus of all participants, and data interception, modification and deletion are almost impossible.
3.
In today's era of high development of the Internet, we are using the Internet more and more frequently, which has become an indispensable and important tool in our life. In particular, the mobile phone used for Internet communication has been used as a medium. In today's era, we are using mobile payment more and more, There are more and more ways to move. So what is digital currency? What do you know about it{ But generally speaking, it is a form of money< p> Finally, for such a form of transaction, it's all for the convenience of our daily life, and it's also for serving our own broad masses of people, so we don't have to worry about the advantages and disadvantages of digital currency and mobile payment
4. Blockchain is a new application mode of distributed data storage, point-to-point transmission, consensus mechanism, encryption algorithm and other computer technologies. Blockchain is an important concept of bitcoin. It is essentially a decentralized database. At the same time, as the underlying technology of bitcoin, it is a series of data blocks generated by using cryptographic methods. Each data block contains a batch of information about bitcoin network transactions, Used to verify the validity of its information (anti-counterfeiting) and generate the next block
it can be used in practice:
virtual currency: for example, bitcoin, etc.
Digital Rights: it can authenticate works, prove the existence of text, video, audio and other works, and ensure the authenticity and uniqueness of ownership
public welfare: the relevant information in the public welfare process, such as donation projects, collection details, capital flow, feedback from recipients, can be stored on the blockchain, and can be made transparent and public, which is convenient for social supervision.
it can be used in practice:
virtual currency: for example, bitcoin, etc.
Digital Rights: it can authenticate works, prove the existence of text, video, audio and other works, and ensure the authenticity and uniqueness of ownership
public welfare: the relevant information in the public welfare process, such as donation projects, collection details, capital flow, feedback from recipients, can be stored on the blockchain, and can be made transparent and public, which is convenient for social supervision.
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