With the development of blockchain technology, Bitcoin's arrogant influence has been caused globally. If the Internet is the highway of information, then the blockchain is the highway of money, and it can even speed up the road to wealth.
So, what is a blockchain?
Blockchain originated from Satoshi Nakamoto's Bitcoin. As the underlying technology of Bitcoin, it is essentially a decentralized database. Refers to the technical plan to protect a reliable database through decentralization and trustless methods.
Blockchain technology is a technical plan that does not rely on third parties and uses its own distributed nodes to store, verify, transmit and communicate network data. Therefore, from the perspective of financial accounting, some people regard blockchain technology as a distributed, open and decentralized large-scale network accounting book. Anyone can use the same technical standards to participate in their own information at any time. Blockchain continues to meet the data entry needs brought by various needs.
What are the characteristics of blockchain?
(1) Distributed decentralized storage.
The blockchain uses distributed records to record all business information on the entire network, and finally converges to form an "open big ledger". In the meantime, each node in the blockchain network has the function of accounting, and each node can also observe the entire ledger.
(2) The content of information disclosure cannot be tampered with.
Blockchain data is protected by each node together, and each participating node can copy and obtain a copy of a complete database; at the same time, the completed basic information can be traced and corrected. The key to its agreement and operating mechanism is the symbol "time stamp". All nodes keep accounts and acknowledge information together every ten minutes. This constitutes a "block" that records all correct and non-repetitive information in the entire network for ten minutes. Piece".
(3) Trust sharing function.
Effectively complete reputation sharing. An article in The Economist referred to the blockchain as a machine that "creates trust". This shows that blockchain can establish a decentralized trust mechanism at the technical level. The value transfer in the practice of the world often requires a trust mechanism to confirm power and keep accounts, which depends on a centralized institution. For example, banks, securities firms, etc., this kind of bookkeeping method is well known. However, blockchain can accomplish low-cost peer-to-peer value transfer, and then reduce the cost of trust.
It can be seen that the three major characteristics of blockchain are enough to make it the hottest latest technology in 2018, and it can even be said to be a new technology that will rewrite the next generation of the Internet.