Blockchain encryption process

1. Because blockchain technology has natural advantages in realizing smart contracts
bitcoin, Ruitai coin, Laite coin, Ethereum and other digital cryptocurrencies all use blockchain technology
blockchain is an important concept of bitcoin, which is essentially a decentralized database and the underlying technology of bitcoin. Blockchain is a series of data blocks generated by cryptography. Each data block contains the information of a bitcoin network transaction, which is used to verify the validity of the information (anti-counterfeiting) and generate the next block.

2.

first, define the

blockchain as an open network ledger. It originated from bitcoin and is the underlying technology of bitcoin. In bitcoin transactions, all the information of transaction records will be packaged into a "block" for storage. With the expansion of information exchange, one block links with another, forming a blockchain

Second, the digital currency represented by bitcoin is a point-to-point e-cash system. Among them, every transaction will broadcast to all participants in the network, and it will be recorded in the account book after repeated confirmation, which is called "blockchain". Each participant will have his own account book. In this way, when false information occurs, it can be broken through mutual verification, so as to ensure network security

in the blockchain, every node is equal, and there is no centralized management organization. This "decentralized" feature makes the blockchain do not need to rely on a third party, its operation does not need any human intervention, and it can independently conct self verification. In addition, the network of blockchain is open to the world, and anyone can query data through the public port, so the whole system is highly transparent

In a word, blockchain is a reliable database and a reliable "account book". In the future, it will be applied in cross-border payment, securities, loans, voting, etc. For example, in cross-border payment, with the security of blockchain, you can remit money to the world anytime and anywhere, which saves a lot of intermediate links and high fees

3.

1.1. Introction

practitioners in the computer instry should be very familiar with the word hash. Hash can realize the mapping of data from one dimension to another, and hash function is usually used to realize this mapping. Generally, y = hash (x) is used in the instry. The hash function can calculate a hash value y by calculating X
hash function characteristics in blockchain:

< UL >

function parameters are string type

fixed size output

is computationally efficient

collision free means that the conflict probability is small: X= y => hash(x) != Hash (y)

hide the original information: for example, the verification of transactions between nodes in the blockchain only needs to verify the information entropy of the transaction, and does not need to compare the original information. The nodes do not need to transmit the original data of the transaction, only the hash of the transaction, Common algorithms include Sha series and MD5

1.2. Hash is widely used in blockchain. One of them is called hash pointer
hash pointer, which means that the value of the variable is calculated from the actual data and points to the actual data location, That is, it can not only represent the actual data content, but also the storage location of the actual data. The figure below shows the schematic diagram of hash pointer

< / UL >

4. Jinwowo network believes that privacy protection is the advantage of blockchain. We use cryptography and distributed structure to protect privacy
jinwowo will use blockchain technology to promote the legalization of big data business. The encryption of blockchain technology can ensure that the privacy of data sources can be better protected while big data is called.

5. First of all, these two are virtual assets. The price of these two kinds of digital currency, or a specific price of digital currency, is determined according to the market situation
the details of these two digital assets are as follows
bitcoin (bitcoin: bitcoin) was originally a kind of network virtual currency, which can buy real-life goods. It is characterized by decentralization, anonymity, and can only be used in the digital world. It does not belong to any country or financial institution, and is not subject to geographical restrictions. It can be exchanged anywhere in the world. Therefore, it is used as a money laundering tool by some criminals
the full name of NMC is "new media chain", the Chinese name is media chain, and the former domain name currency (also referred to as NMC) is two completely different currencies. NMC is the circulating currency of three decentralized application platforms: coin call [blockchain information community portal], coin search [blockchain network query tool], ncoin [digital currency exchange]. However, the prices of these two kinds of digital currencies will fluctuate with the market, which can not guarantee a development prospect. If the current price is concerned, bitcoin will be a bit higher.

6. The application of blockchain technology mainly starts from several characteristics of blockchain technology. Blockchain technology has a great feature, that is, the information can not be tampered with. Once the information is verified and added to the blockchain, it will be stored permanently. Unless more than 51% of the nodes in the system can be controlled at the same time, the modification of the database on a single node is invalid. Therefore, the data stability and reliability of blockchain are extremely high. For example, Yingtang Zhongchuang can provide background encryption service with blockchain as the underlying technology, and its encryption technology can fundamentally ensure the security and storage of data.

7. Because YKC is a new type of digital currency, its encryption technology is reflected in the identity protection and information dissemination will not be modified.