Blockchain will subvert

1. A special database technology, which is based on elliptic curve digital signature algorithm in cryptography to achieve decentralized P2P system design. But the role of blockchain is not limited to bitcoin. Now, when people use the word "blockchain", sometimes it refers to data structure, sometimes it refers to database, sometimes it refers to database technology, but no matter what the meaning is, it has no inevitable connection with bitcoin

from the perspective of data: blockchain is a kind of distributed database. The "distributed" here is not only reflected in the distributed storage of data, but also reflected in the distributed records of data (that is, it is collectively maintained by system participants). In short, blockchain can realize distributed recording of global data information (which can be collectively recorded by system participants rather than centralized recording by a centralized organization) and distributed storage (which can be stored in all nodes participating in recording data rather than centralized storage in centralized organization nodes)

from the perspective of effect: blockchain can generate a set of time sequence, tamper proof and trustworthy database, which is decentralized storage and data security can be effectively guaranteed<

the working principle of blockchain technology

today's blockchain technology can be summarized as a technology to collectively maintain a reliable database through centralization and de trust in the past. In fact, blockchain technology is not a single and brand-new technology, but the result of the integration of a variety of existing technologies (such as encryption algorithm, P2P file transfer, etc.), which are cleverly combined with the database to form a new way of data recording, transmission, storage and presentation. In short, blockchain technology is a technology that everyone participates in recording and storing information. In the past, people entrusted the work of data recording and storage to the centralized organization, while the blockchain technology allows everyone in the system to participate in the data recording and storage. Under the distributed peer-to-peer network without central control point, blockchain technology uses the method of distributed collective operation to build a P2P self-organizing network. Through the complex verification mechanism, the blockchain database can maintain the integrity, continuity and consistency. Even if some participants commit fraud, the integrity of the blockchain cannot be changed, let alone tamper with the data in the blockchain

the source of blockchain technology principle can be summarized as a mathematical problem: Byzantine general problem. Byzantine general problem extends to Internet life, and its connotation can be summarized as: under the background of Internet, when we need to exchange value with unfamiliar opponents, how can we prevent people from being deceived and confused by malicious saboteurs, so as to make wrong decisions. The Byzantine general problem is further extended to the technical field. Its connotation can be summarized as: in the absence of trusted central nodes and trusted channels, how to reach a consensus among the nodes in the network. Blockchain technology solves the well-known Byzantine Generals Problem - it provides a way to create consensus networks without having to trust a single node<

Application of blockchain technology

blockchain technology overlaps three fields:
1, currency: issuance mechanism, distribution mechanism, adjustment mechanism
2, contract: equity, mutual insurance, right registration and transfer, smart contract, etc.
3, Governance: identity authentication, health management, notarization, judicial arbitration, decentralized autonomous organization, Voting, etc.

blockchain is like a "trust creating machine". What Bubi blockchain needs to do is a new technology and proct to realize real value circulation and make the Internet reach a new height

when it comes to blockchain technology, we have to mention bitcoin. Many people know that electronic currency bitcoin is not issued by a specific monetary institution, but generated by a large number of calculations of a specific algorithm. In fact, the core of real support for bitcoin is blockchain technology

How can invisible and intangible bitcoin operate through blockchain technology? The popular interpretation in the instry is that blockchain can be seen as a technical solution to collectively maintain reliable databases through "decentralization" and "distrust". Generally speaking, this technology can be understood as the technology of all participants in bookkeeping. In the past, people used a centralized server for bookkeeping. In the blockchain technology system, everyone can participate in bookkeeping and jointly identify the authenticity of records

"through this technology, even if there is no neutral third-party organization, the two sides who do not trust each other can cooperate. In short, blockchain is like a "trust creating machine."“ Blockchain technology is widely used in the era of big data. " At present, in addition to the field of Internet finance, blockchain technology has been applied in many fields and has shown great prospects

in addition, blockchain technology is also of great significance in law. Especially in the field of assets, whether it is physical assets such as real estate and automobile, or intangible assets such as health and reputation, we can use this technology to complete registration, transaction and tracking. It can be said that blockchain technology will be useful in any field of proction and life that lacks trust. "

blockchain technology concept stocks

it is recommended to pay attention to it manufacturers with blockchain technology and applications. We think that blockchain is more like a mechanism or technical solution. In the future, manufacturers who can combine this mechanism into different scenarios for promotion and application are expected to achieve subversive success. Blockchain technology can ensure that the data structure will not be tampered and forged, and has broad application prospects in the field of financial payment. Bubi blockchain has set up a special team around digital currency, focusing on the development trend of digital currency for a long time, and has set up a special team to carry out relevant work around the instry development demand of digital currency, including the research on blockchain technology.

2. The subversive characteristics of blockchain lie in the following four aspects: first, transparency. The data record of the blockchain system is transparent to the nodes of the whole network, and the update operation of the data record is also transparent to the nodes of the whole network, which is the basis of the trustworthiness of the blockchain system. Because the blockchain system uses open source programs, open rules and high participation, the data records and operation rules of the blockchain can be reviewed and traced by the nodes of the whole network, with high transparency< Second, openness. The blockchain system is open. In addition to the fact that the private information of the parties directly related to the data is always encrypted, the data of the blockchain is open to all (except the blockchain system with special permission requirements). Anyone or participating nodes can query blockchain data records or develop related applications through the open interface, so the information of the whole system is highly transparent< Third, information can not be tampered with. Once the information of the blockchain system is verified and added to the blockchain, it will be permanently stored and cannot be changed (except for private blockchain systems with special change requirements). 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, so the data stability and reliability of the blockchain are extremely high
Fourth, decentralization. Decentralization is the most basic feature of the blockchain, which means that the blockchain no longer depends on the central processing node and realizes the distributed recording, storage and updating of data. In the traditional centralized network, attacking a central node can destroy the whole system, while in a decentralized blockchain network, attacking a single node cannot control or destroy the whole network. More than 5% of the nodes in the master network are just the beginning of gaining control. 2019 is the first year for the commercial application of blockchain technology, and the stimulation of favorable policies will make the development of blockchain technology more stable
with the application of blockchain technology graally penetrating into many fields such as digital finance and Internet, we have a clearer understanding of the value of blockchain
blockchain has formed a situation of global competition, and all countries are seizing the development opportunities, let alone China; Therefore, there is no doubt that blockchain has become a national strategy.

3. In its 2016 investment theme report, Citigroup said: blockchain technology will not lead to financial disintermediation (i.e. financial decentralization), but blockchain technology will greatly benefit the financial instry, such as improving the level of transaction automation and recing operating costs. Transaction checker will continue to check transactions and update classified books, and financial assets can be transferred immediately, So as to improve the settlement efficiency; The transaction information in the blockchain can also be made public to all participants in the network, bringing greater transparency and security to the transaction; Ensure seamless and automated transactions of electronic assets, and bring innovation to the fields of secure settlement, payment, identity management, accounting insurance and Internet of things; Rece the operating costs of the syndicate loan
however, while affirming the potential development of this technology, the report also points out that financial institutions have excessive pursuit of this technology, and blockchain technology is still facing practical challenges, such as the need to establish legal tender for blockchain
with the combination of real assets of digital currency, coin Ying China has launched a new mode of blockchain + crowdfunding, providing players with a more flexible exit mechanism.

4. Femtosecond detection found that blockchain is a new application mode of distributed data storage, point-to-point transmission, consensus mechanism, encryption algorithm and other computer technologies. The so-called consensus mechanism is a mathematical algorithm to establish trust and obtain interests between different nodes in the blockchain system. Its characteristics include:
decentralized
e to the use of Distributed Accounting and storage, there is no centralized hardware or management organization, the rights and obligations of any node are equal, and the data blocks in the system are jointly maintained by the nodes with maintenance function in the whole system
thanks to the decentralization of blockchain, bitcoin also has the characteristics of decentralization [6]

openness
the system is open, in addition to the private information of all parties to the transaction is encrypted, the data of the blockchain is open to all, and anyone can query the blockchain data and develop related applications through the open interface, so the information of the whole system is highly transparent
autonomy
blockchain adopts consensus based specifications and Protocols (such as a set of open and transparent algorithms) to enable all nodes in the whole system to exchange data freely and safely in a de trusted environment, so that the trust in "people" is changed into the trust in machines, and any human intervention does not work
information cannot 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, so the data stability and reliability of the blockchain are extremely high<
anonymity
since the exchange between nodes follows a fixed algorithm, their data interaction does not need to be trusted (the program rules in the blockchain will judge whether the activity is effective by themselves), so the counterparties do not need to trust themselves by disclosing their identities, which is very helpful for credit accumulation

5. At present, the blockchain instry and technological innovation are developing rapidly, which has extended to many fields, such as digital finance, Internet of things, intelligent manufacturing, supply chain management, digital asset trading, and even disruptive innovative applications. But these may just be the beginning. Blockchain will continue to restructure subversive applications in the field of commercial economy, social life governance, and even proction relations. Blockchain + instry innovation is an inevitable thing in the current situation. The blockchain + public service mode initiated by Changsha high tech Zone, which now has a SMIC blockchain service platform project, is soliciting enterprises to join the chain. In the future, relevant enterprise affairs and government affairs can cooperate on the chain.

6.

A few days ago, some media reported that the Internet can be called a great revolution. Since its birth, it has constantly refreshed its imagination and transformed the world, and the blockchain is subversive

in the early stage of blockchain development, on the one hand, it needs the full brewing of the market, on the other hand, it needs the guidance of the government. Blockchain may bring some challenges to the current laws and regulations, especially in the financial field. We do not have to predict its future, but to do a good job in process supervision, the next step is to see the application and development of blockchain in all aspects

Article source: bit110 network

7. The subversion from blockchain is a manifestation of digital currency becoming a national line. Now the country should actively promote the development of blockchain.

8. The emergence of blockchain is an iteration of economic and social evolution to a certain extent. It can improve economic growth and break the original investment threshold. The characteristics of blockchain make investors happy. However, e to the progress of national strategy, blockchain has developed rapidly and has been valued by the state. It's good to have a hashton blockchain company.

9. It will be many years before the instry and government reform really guided by blockchain can be realized. The reason is that blockchain is not a "subversive" technology. It can not subvert the traditional business model with a lower cost solution and quickly overwhelm the incumbent enterprises. Blockchain is a "fundamental" technology: it has the potential to create a new foundation for the economic and social system. Although its impact is enormous, it will take decades to penetrate into our economic and social infrastructure. With the rapid development of technology and system reform, the application of blockchain will be steadily promoted
blockchain is a P2P network based on the Internet, which was first used in bitcoin protocol in October 2008. Bitcoin is a virtual currency system; It decentralizes currency issuance, ownership transfer and transaction confirmation. Bitcoin is the first application case of blockchain technology. Digital currencies such as Puyin, Laite coin and doggy coin are also the application of blockchain.

10. Blockchain technology will not subvert the philosophy of the Internet. It mainly depends on the development of technology