Blockchain burn mechanism

1. blockchain does not belong to any instry. Blockchain is a new application mode of computer technology, such as distributed data storage, point-to-point transmission, consensus mechanism, encryption algorithm and so on. In a narrow sense, blockchain is a kind of chain data structure that combines data blocks in a sequential way according to the time sequence, and it is a distributed account book that can not be tampered with and forged by means of cryptography.

2.

Seeing some answers to the debate on the definition of blockchain, I suddenly realize that my answer to this explanation principle has always been directed at bitcoin. There is no specific and unique answer in the instry between the definition of blockchain. Here I first summarize the characteristics of "blockchain" according to the papers I read:

1; Hash chain & quot There are several nodes participating in the system operation (distributed)

3. Reach a consensus on the consistency of basic data (consensus agreement / algorithm) through a certain protocol or algorithm

since bitcoin is currently one of the most typical and influential applications of blockchain, it will be much easier to understand how bitcoin uses blockchain before understanding other forms of blockchain applications

3. Blockchain is a technology, but it is not a single technology, but the result of the integration of a variety of technologies, including cryptography, mathematics, economics, network science and so on. You can think of it as a distributed shared accounting technology, or as a database, but the database is jointly maintained by all nodes in the chain, and each node has an account book. Because the account books of all nodes are consistent, different nodes can trust each other, and there is no doubt about the data, so we all say that the blockchain has realized trust technically. For detailed professional technology, you can consult some professional technology companies, such as Jinbo technology, which focuses on the development of blockchain related procts, professional R & D team and perfect after-sales service, and you can consult by telephone.

4. Blockchain is a decentralized distributed ledger system, which can be used to register and issue digital assets, property rights certificates, points, etc., and transfer, pay and trade in a point-to-point manner. Compared with the traditional centralized ledger system, blockchain system has the advantages of complete disclosure, tamper proof, multiple payment prevention, and does not rely on any trusted third party
e to the high network delay in peer-to-peer network, the transaction order observed by each node can not be completely consistent. Therefore, the blockchain system needs to design a mechanism to reach a consensus on the sequence of transactions that occur in the same time. This algorithm to reach consensus on the order of transactions in a time window is called consensus mechanism
-- chainknow

5.

Blockchain is on fire! It's so hot that I have no friends! In recent days, it has been swished by various popular science jokes of blockchain, just like crowdfunding, equity and original stocks in the past two years. If you go out and chat with others, you will be embarrassed to chat with others if you don't talk about blockchain. Textbook like explanation: an intelligent peer-to-peer network that uses distributed database to identify, disseminate and record information. It is a distributed database system with different nodes and an open ledger

the concept of "after the rules are settled, everyone will register spontaneously" in wechat organization corresponds to the concept of "decentralization, no single user can control it" in the blockchain. "Registration in wechat group" in wechat group corresponds to the concept of "peer-to-peer network" in blockchain. "As long as the network is connected, we can know the latest progress" in wechat organization Bureau, corresponding to the concept in blockchain, namely "game mechanism"

6. At present, there are four main types of consensus mechanisms: pow, POS, dpos, pool
1. POW workload proof, which is familiar with mining, calculates a random number that meets the rules through and or operation, that is, obtains the bookkeeping right, sends out the data that needs to be recorded in this round, and stores it together with other nodes in the whole network after verification
advantages: complete decentralization, free access of nodes
disadvantages: bitcoin has attracted most of the computing power in the world, and other blockchain applications using POW consensus mechanism are difficult to obtain the same computing power to ensure their own security; Mining causes a lot of waste of resources; The period of reaching consensus is long, which is not suitable for commercial application.

2. Proof of rights and interests of POS, a mechanism of upgrading consensus of pow; According to the token proportion and time of each node; It can rece the difficulty of mining in equal proportion, so as to speed up the speed of finding random numbers< Advantages: to a certain extent, it shortens the time to reach a consensus
disadvantages: mining is still needed, which does not solve the pain point of commercial application in essence

3. Dpos share authorization certification mechanism is similar to the voting of the board of directors, in which the coin holders cast a certain number of nodes to verify and account on their behalf
advantages: greatly rece the number of participating verification and accounting nodes, which can achieve second level consensus verification
disadvantages: the whole consensus mechanism still depends on token, and many commercial applications do not need token to exist

4. Pool verification pool, which is based on traditional distributed consistency technology and data verification mechanism; It is a consensus mechanism widely used in the instry chain at present.
advantages: it can work without token, and realizes second level consensus verification on the basis of mature distributed consistency algorithms (pasox and raft)
disadvantages: the degree of decentralization is not as good as that of bictin; The multi center business model is more suitable for multi-party participation

it has great advantages in using consensus mechanism to ensure data consistency (the consensus mechanism is first proposed by ripple, and the network transaction synchronization mechanism with data correctness priority. In the consensus network, no matter how the software code changes, if you can't reach a consensus, you can't enter the network, let alone fork)
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PS: a little black, although the consensus mechanism can absolutely ensure that there will be no hard bifurcation at any time. However, the disadvantage of this mechanism is obvious, that is, it is much longer than the current bitcoin network to reach a consensus with other nodes. In extreme cases, the consequences of disconnection in ripple consensus mechanism network are also very terrible

it is possible that one day after the power failure in your home, the whole system will no longer be able to reach a consensus with other rippled nodes (in fact, the consensus mechanism requires more than 80% of the nodes to acknowledge your data before your submission will be accepted by other nodes, otherwise it will be rejected by exclusive nodes), Even you can only empty all your 500 GB data and resynchronize to connect to other ripple nodes

so at present, the existing rippled end is not suitable for civil use (if it is commercial, the impact is relatively small. For example, RL's own rippled node is hosted in Amazon cloud data center. If it has no response for a long time, it can make high claims, and there is almost no break in that place except for large disasters). This is one of the aspects RL has always wanted to improve.

7.

What kind of blockchain technology is popular recently? Blockchain technology is considered to be the brightest star in financial technology, and it may continue to develop in the future. It has many characteristics, including data distribution, data trust and collective consensus mechanism, and most importantly, openness, transparency, anonymity and privacy, According to the data in the blockchain, we can get some basic information of contemporary society

blockchain technology is such a safe and scientific database. It can be simply understood as an authoritative database, in which the basic content is true, verified and audited by others. In terms of financial technology, it is very easy to find some desired data, which is very good for business people

8. If we simplify the description of the operation process of the traditional notarial certificate, it should be like this: the parties apply for notarization - the notary office evaluates the application - confirms the authenticity and legality of the application items - makes, issues and delivers the notarial certificate. The running process of blockchain public certificate is similar. However, the operation mechanism behind the same operation process is not the same. The reason why the public certificate of blockchain is regarded as the Manifesto of the new environment of notarization is that it has made a subversive change to the traditional notarization certificate in the operation mechanism
01, the core operation mechanism of blockchain public certificate
the operation mechanism of blockchain public certificate is composed of two moles: "Notarization management" and "intelligent assistance". After the applicant submits the application, the blockchain notarization system relies on AI technology to audit the identity and information of the applicant. At the same time, the system will review the content of notarial evidence, and then issue a notarial certificate, at the same time on the chain filing. At the same time, the public certificate of blockchain has been formally formed, which immediately meets the online verification needs of users
the core of the operation mechanism of the notarial certificate of the blockchain lies in the application of the blockchain technology. No matter audio, video, photo or document, as long as it is stamped with a time stamp and then put on the chain, it can become an unchangeable and indestructible evidence document
the second important support in the operation mechanism of the notarial certificate of blockchain is the application of artificial intelligence. The application of this technology greatly saves the applicant's application and waiting time, and also greatly improves the speed and accuracy of the notarial office's document confirmation, eliminating the time delay of manual confirmation and possible operational errors<

02, analysis of the characteristics of the operation mechanism of the notarial certificate of blockchain
through the detailed disassembly of the operation mechanism diagram of the notarial certificate of blockchain, it is not difficult to find that compared with the operation mechanism of the traditional notarial certificate, the operation mechanism of the notarial certificate of blockchain has many noteworthy characteristics
the first is synchronization. In the process of generating the public certificate of blockchain, the actions of the applicant and the notary organization are almost synchronous, and the applicant's application and the notary organization's examination, certificate preparation and certificate issuance are almost synchronous. However, in traditional notarization, there is a time interval between the actions of all parties, which is prone to usurpation. Moreover, e to manual operation, a large amount of time cost will be generated, It further causes the delay of the process. The actions of all parties of blockchain notarization are synchronized online, and the action traces and data are generated instantaneously, thus recing the possibility of tampering and ensuring the authenticity and judicial effect of data files
the second is interactivity. In the process of generating the public certificate of blockchain, the actions of the applicant and the notarization institution are interactive - the applicant submits the application, the notarization institution's artificial intelligence audit, the certificate preparation, the certificate issuance, the data archiving, and the applicant's query are carried out alternately. Different from the traditional notarization, the applicant is more in a passive waiting state after submitting the application, which reces the participation of the applicant
dynamic again. In the process of generating the public certificate of blockchain, the evidence file is a dynamic generation process. The process of applying for the notarial certificate is the process of generating the notarial evidence, and this process itself is a part of the notarial certificate. The traditional notarization is that before the notarization, the evidence documents have been basically finalized. What the notary office does is just a process of confirmation and seal, and the dispute prevention function of notarization is weakened

it is precisely because the operation mechanism of the block chain notarial certificate is quite different from that of the traditional notarial certificate, which determines its absolute advantage over the traditional notarial certificate. On the one hand, it meets the people's requirements for efficiency in the digital age; On the other hand, it also strengthens the authenticity and legal validity of notarial documents. Its interactive feature adapts to the Internet era thinking of emphasizing interaction, which makes all parties involved in notarization enter a positive interactive state. Finally, the dynamic nature of the generation of the public certificate of the blockchain greatly gives play to the initiative of the notary organization, rather than passively confirming the existing evidence documents, which can give full play to the original preventive function of the notary.

9. This mechanism is the most concise design. It's understandable. It's very similar to the real world. Assuming that a and B can't trust each other, we introce a third party that a and B can trust together to act as a notary as an intermediary
in the blockchain, the third party can be a trusted central organization of both parties or a group of nodes. It not only collects data, but also confirms and verifies transactions
in the notary man-machine system, it can be realized through "single signature / multi signature notary mechanism" and "decentralized Transaction Protocol"
the advantages of this scheme are very simple and easy to understand. However, it should be noted that the security of the central node is the key bottleneck of the system stability in the single signature system; The security of multi signature is higher, but it needs two chains to support multi signature
in this mechanism, the most representative solution is ripple's cross chain value transmission technology protocol, interlegger protocal (ILP), which is not an account book and does not seek any consensus
on the contrary, it provides a top-level encryption hosting system called "connector", which, with the help of this intermediary, allows money to flow freely between the books
this agreement uses the password algorithm, the two ledger systems and the connector to create the fund custody. When all parties reach a consensus on the fund, the transaction can be completed
interleger portal removes the trust link needed by transaction participants, and the connector will not lose or steal funds, so this kind of transaction does not need the protection of legal contract and excessive audit, which greatly reces the transaction threshold. bitmom