Packaging technology of block chain in bitcoin
bitcoin is equivalent to digital gold. As a generally recognized equivalent, gold naturally has monetary properties and has been regarded as a kind of currency since ancient times. Bitcoin was born in 2009 and created by a person named Nakamoto. As the earliest digital currency, it was worthless at the beginning of creation. Until 2017, the highest transaction price of bitcoin exceeded 30000 RMB. The reasons why bitcoin became a valuable digital currency are as follows:
first of all, it is like gold, as a natural mineral, The total amount of bitcoin is limited. Bitcoin can not be over issued according to its own algorithm, so there will be no rapid devaluation of currency e to excessive currency issuance. The number of bitcoin is controlled to no more than 21 million e to the algorithm, so it can not be issued in large quantities, so its value is guaranteed
the concept of bitcoin was first proposed by Nakamoto in 2009. According to Nakamoto's idea, the open source software was designed and released, and the P2P network on it was built. Bitcoin is a kind of P2P digital currency. Point to point transmission means a decentralized payment system. Unlike most currencies, bitcoin does not rely on specific currency institutions. It is generated by a large number of calculations based on specific algorithms. Bitcoin economy uses the distributed database composed of many nodes in the whole P2P network to confirm and record all transactions, and uses the design of cryptography to ensure the security of all aspects of currency circulation. The decentralized nature of P2P and the algorithm itself can ensure that it is impossible to artificially manipulate the value of bitcoin by mass manufacturing. The design based on cryptography can make bitcoin only be transferred or paid by the real owner. This also ensures the anonymity of money ownership and circulation transactions. The biggest difference between bitcoin and other virtual currencies is that the total amount of bitcoin is very limited and it has a strong scarcity. The monetary system used to have no more than 10.5 million in four years, after which the total number will be permanently limited to 21 million. Bitcoin can be cashed and converted into the currency of most countries. Users can use bitcoin to buy some virtual goods, such as clothes, hats and equipment in online games. As long as someone accepts it, they can also use bitcoin to buy real-life goods.
blockchain technology is a kind of e-money ledger system realized through point-to-point
bitcoin is regarded as the first generation application of blockchain technology and the most thorough application of its code testing. However, without bitcoin, there might not be so many people who knew about blockchain now. It can be said that bitcoin has greatly improved the "exposure" of blockchain technology
later, people graally found that the application value of blockchain is far more than bitcoin, but can be applied to many instries to solve the pain points of many instries; The idea of blockchain can also provide a lot of reference for the financial field, which is the real reason for the outbreak of blockchain.
Blockchain technology is a kind of chain data structure that combines data blocks in order according to the time sequence, and ensures the non tampering and non forgery distributed ledger in the way of cryptography. Each transaction data can be simply understood as each block, and each block points to the previous block according to the time axis, forming a chain