The core of blockchain technology is that all participating nodes jointly maintain transactions and databases. It makes transactions not based on trust, but based on cryptography, so that any parties who reach an agreement can directly conduct payment transactions. , No third party is required.
Technically, a block is a data structure that records transactions, which reflects the flow of funds in the transaction. Blocks of completed transactions are connected together in the system to form a main chain, and all nodes participating in the calculation record part of the main chain. A block consists of the following three parts: transaction information, the hash formed by the previous block, and a random number. Trade information is the task data carried by the block, especially the private keys of both parties to the transaction, the number of transactions, the digital signature of electronic currency, etc.; the hash formed by the previous block is used to connect the blocks and realize the past transactions Orderly arrangement; random number is the core of the transaction. All miner nodes compete to calculate the answer to the random number, and the node with the fastest answer generates a new block, which is then broadcast to all nodes for update, so that a transaction is completed .
In essence, blockchain is a large decentralized ledger database. As the underlying technology of Bitcoin, it consists of a series of data generated online using cryptography. Each data block contains multiple Bitcoin networks. Confirmation (that is, valid verification of a transaction, that is, a confirmation) information. As transactions continue to occur, miners are still verifying transactions to create new blocks to record the latest transactions, so this account will continue to grow. These blocks are linearly supplemented to the original blockchain in chronological order. Each node (each client port connected to the computer on the blockchain network through the user wallet port) has a complete backup record of the existing blockchain, which is automatically completed by the miner network through the data verification algorithm decryption. All information about each node and the Bitcoin balance on each node is stored in the blockchain and recorded in the complete blockchain. The public blockchain account is completely open to the outside world, which means that blockchain information can be queried through a specific address on the browser.
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