What are the algorithms of blockchain
blockchain includes public blockchain, joint (instry) blockchain and private blockchain. Public chain point-to-point e-cash system: bitcoin, smart contract and decentralized application platform: Ethereum
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. In essence, it is 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 bitcoin network transaction information, Used to verify the validity of its information (anti-counterfeiting) and generate the next block
extended data
according to the different degree of blockchain network centralization, three kinds of blockchains under different application scenarios are differentiated:
1. The blockchain with the whole network open and without user authorization mechanism is called public chain
2. The authorized nodes are allowed to join the network, and the information can be viewed according to the authority. It is often used in the inter agency blockchain, which is called alliance chain or instry chain
3. All the nodes in the network are in the hands of one organization, which is called private chain
alliance chain and private chain are also called licensing chain, and public chain is called non licensing chain
blockchain features
1, decentralization. Blockchain technology does not rely on additional third-party management institutions or hardware facilities, and there is no central control. In addition to the self-contained blockchain itself, each node realizes information self verification, transmission and management through distributed accounting and storage. Decentralization is the most prominent and essential feature of blockchain
2. Openness. Blockchain technology is based on open source. In addition to the private information of all parties involved in the transaction is encrypted, the data of blockchain is open to everyone. Anyone can query blockchain data and develop related applications through the open interface, so the information of the whole system is highly transparent
3. Independence. Based on consensus specifications and Protocols (similar to various mathematical algorithms such as hash algorithm used by bitcoin), the whole blockchain system does not rely on other third parties, and all nodes can automatically and safely verify and exchange data in the system without any human intervention
4. Safety. As long as 51% of all data nodes cannot be controlled, the network data cannot be arbitrarily manipulated and modified, which makes the blockchain itself relatively safe and avoids subjective and artificial data changes
5. Anonymity. Unless there are legal requirements, technically speaking, the identity information of each block node does not need to be disclosed or verified, and the information can be transferred anonymously
hash algorithm is a cryptographic algorithm that can only encrypt, but not decrypt. It can convert any length of information into a fixed length string
this string has two characteristics:
1. Even if the input value changes only a little, the output hash value will be very different
2. Only exactly the same input value can get exactly the same output value
3. There is no rule between the input value and the output value, so the input value cannot be calculated by the output value. In order to find the specified output value, we can only use enumeration method: constantly change the input value to find the output value that meets the conditions
hash algorithm ensures that the results of bitcoin mining can not be deced reversely. Therefore, the miner's continuous operation is essentially brutally cracking the correct input value. Whoever finds the first one will get the bitcoin reward.
1. Application of blockchain technology in the banking instry the biggest feature of blockchain technology is decentralization, which will rece a lot of costs for the banking instry. The development of digital currency will make it possible for banks to realize real-time digital transactions. For example, in bill transaction, bank bill transaction always relies on the third party to realize the transfer of valuable documents. Even in electronic bill transaction,
also needs to be authenticated through the information of central bank ECDs system. The blockchain technology can realize the point-to-point value transmission, which no longer needs centralized system control. This not only speeds up the bill transmission speed, but also reces the mistakes caused by human factors. The rection of process will naturally rece the demand of the bank for personnel and save the labor cost of the bank
2, the application of blockchain technology in the insurance instry
blockchain technology also has incomparable advantages in the insurance instry. From the perspective of data management, the application of blockchain technology can effectively improve the risk management and control ability of insurance companies, including the risk supervision of insurance companies and the risk management of policyholders
the application of blockchain technology in the insurance instry can strengthen the internal risk supervision of insurance companies. Blockchain technology can record the daily operation process of insurance company on the node, realize the in-process control of the company's capital flow, investment situation, compensation amount and other business, and improve the company's risk management and control ability
3. Application of blockchain technology in the securities instry
4, blockchain technology and financial infrastructure
blockchain technology is a decentralized mechanism for value exchange, which will lead to earth shaking changes in the existing financial infrastructure characterized by centralization
5. Application of blockchain technology in supply chain, It has become an effective guarantee for enterprise bank's loan credit, financing credit and transaction credit
asymmetric encryption algorithm is a function that converts the original plaintext file or data into a series of unreadable ciphertext codes by using an encryption key. The encryption process is irreversible. Only holding the corresponding decryption key can the encrypted information be decrypted into readable plaintext. Encryption enables private data to be transmitted through the public network under the condition of low risk, and protects the data from being stolen and read by the third party
the core advantage of blockchain technology is decentralization, which can realize point-to-point transaction, coordination and cooperation based on decentralized credit in a distributed system without mutual trust by means of data encryption, time stamp, distributed consensus and economic incentive, so as to solve the high cost and low cost of centralized institutions Low efficiency and data storage insecurity provide solutions
the application fields of blockchain include digital currency, token, finance, anti-counterfeiting traceability, privacy protection, supply chain, entertainment, etc. with the popularity of blockchain and bitcoin, many related top domain names have been registered, which has a great impact on the domain name instry.
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
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