Blockchain that can't be provoked

Blockchain is not deceiving, but deceiving people under the guise of blockchain. In fact, blockchain scam is to make use of people's ignorance of the technology, and then fraudsters rely on various and fancy means to set up scams. Many people only look at the surface when making investments, and finally fall into the trap of high profits

in the current society, more and more people are willing to take this risk to make investment in order to get rich returns, but not all of them can make profits. After all, where there are interests, there are many people waiting, and they will set traps for people to take the t

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precautions

blockchain is a technology. In short, this technology is a new way of data management based on cryptography. Blockchain technology has broad application prospects because it has the advantages of decentralization, non tampering, tracing and so on. And issuing currency is a kind of behavior derived from blockchain technology. At present, the vast majority of blockchain applications which mainly focus on currency issuance and speculation are suspected of illegal fund-raising

blockchain technology is still in early development, and it is difficult to apply it. If you only rely on a white paper to claim that there is an application, it is a deception in itself

A few days ago, the person in charge of ant financial services said that we should be alert to all kinds of deceptions in the name of blockchain, and let this technology that should have proced greater value become a victim. He said that the next year's block chain is likely to usher in the collapse of the bubble, but this also means that the real value of the block chain is beginning to emerge. p> The four challenges are security, information protection, transaction performance and incentive mechanism. For example, in the aspect of information protection, effective technical solutions need to be found between the information protection demands of sensitive information and trade secrets (not let others know) and the consensus of multi-party participation (let more people know), etc

experts said that we should be alert to all kinds of deceptions in the name of blockchain, and let the technology itself, which should have proced greater value, become victims. In the coming year, the block chain will probably usher in the burst of bubbles and the emergence of real value, and will also usher in scale applications in the commercial field within 2-3 years. p>

Article source: bit110 network

Let's suppose villagers Lao Wang and Xiao Li. Lao Wang borrowed some money from Xiao Li, who wrote it in an IOU signed by both parties. A few days later, Lao Wang denied the existence of borrowing money and claimed that Xiao Li forged the paper. Xiao Li can't argue because he finds it difficult to prove that Lao Wang actually owes him money

in this example, Lao Wang and Xiao Li are two nodes

now assuming the same scenario, there are many pairs of people trading with each other in the village. The only evidence for each pair is the IOU. If one party fails, it will be difficult to do so. Seeing this scene, the village head came up with a solution. He suggested using a common notebook for the whole village to record all the transactions. Due to the high prestige of the village head, the villagers unanimously decided to let the village head keep this important transaction book. Each transaction, the villagers go to the village head's home, let the village head witness and record, each transaction is written into a notebook, and then safely saved. That notebook can be called a database

because this notebook is very important, the village head locked it in the safe. However, there are always some problems. Sometimes, the village head will accidentally sprinkle ink on the paper, making some transaction records illegible. This is called a single point of failure. The thief knows that there is an important notebook in the safe of the village head's house. He tries his best to steal it. This is called hacking

until one day, the village head's son owed others a lot of money, so the village head secretly deleted his son's debt entry. In this way, the village head's son "does not owe money."

when the villagers knew this, they began to question the fairness and authority of the village head. So some people put forward a new idea:

abolish the power of the village head, which is called decentralization. Let all villagers keep a notebook, and the transaction records are copied and distributed, which is called distributed database. Therefore, if there are n people in the village, there are n notebooks, that is, n nodes. Every time there is a trade between any two people, all the people in the village get together and record it in their notebooks. And no one can cover the sky. This is called decentralization

they also decided that they would never delete the mentioned transactions from their notebooks, which is irreversible. For example, Lao Wang borrowed a sum of money from Xiao Li before, but in the twinkling of an eye, he wants to return the money. Then the transaction book will not delete the previous borrowing record, but write a new repayment record, so there are two records

next, let's try to break this rule. What if we bribe Lao Wang to change his notebook? It's not feasible, because the next time the villagers meet, they find that Lao Wang's notebook is different from everyone else's, so the villagers notice that Lao Wang may be engaged in an indescribable transaction, and decide to abolish Lao Wang's transaction record and kick Lao Wang out of the organization

What if you try to bribe all the villagers? It's too expensive

the characteristic of this model is that greedy people need to pay a lot to attack the rules. He will find it more profitable to follow the rules

a smart child in the village suggested that each transaction data be called "block" and linked into a "chain" in chronological order, which is called blockchain