With the continuous development and innovation of blockchain technology and the continuous support of national policies, blockchain technology has become the current leading enterprises that are actively developing and deploying blockchain technology applications. The blockchain greatly reduces the intermediate links, costs and complexity of transactions through encryption algorithms, peer-to-peer networks, consensus algorithms and other technologies. What are the characteristics of blockchain technology? Today, I will lead you to quickly understand the six characteristics of blockchain.
Quickly understand the six characteristics of blockchain
Decentralization
The verification, accounting, storage, maintenance and transmission of data on the blockchain are all based on a distributed structure, using mathematical and algorithmic methods instead of a central organization to build trust relationships between distributed nodes, thereby forming decentralization , A trusted distributed structure. Transaction participants can self-certify and trade directly without relying on the trust endorsement of third-party intermediaries.
Immutable
Data is difficult to change after being written into the blockchain. The algorithm of the blockchain ensures extremely harsh conditions for modifying the data on it, and this condition is almost impossible to achieve, ensuring the authenticity of the data. Distributed sharing: Blockchain can record data synchronously through a peer-to-peer network to realize distributed sharing of data.
Consensus trust mechanism
Blockchain has fundamentally changed the way of centralized credit creation. It uses a set of consensus-based mathematical algorithms to establish a trust network between robots, so as to create credit through technical endorsement rather than centralized credit institutions. With the aid of the algorithm proof mechanism of the blockchain, each node participating in the entire system does not need to establish a trust process for data exchange. Within the rule range and time range specified by the system, nodes cannot and cannot deceive other nodes, namely A small number of nodes cannot complete the fraud.
Openness
The blockchain system is open, except that the private information of the parties to the transaction is encrypted, the data of the blockchain is open to all participants, and any participant can query the blockchain data and develop related applications through the open data interface. Therefore, the entire system information is highly transparent.
Anonymity
Since nodes do not need to trust each other, there is no need to disclose their identities between nodes, and each participating node in the system can be anonymous. The two parties involved in the transaction pass information through the address. Even if all the block information is obtained, it is impossible to know who the two parties involved in the transaction are. Only those who have the private key can open their own wallets. In addition, in transactions such as Bitcoin, it is recommended to apply for a different address for each transaction, thereby further protecting the privacy of the transaction party.
Cross-platform
Similar to the Internet's TCP/IP protocol, the blockchain can also be regarded as a basic communication protocol, and it cooperates with other mechanisms to form a blockchain-based Internet of value. The nodes on the blockchain network operate independently based on a common algorithm and data structure. They mainly consume computing resources and are independent of the platform. Computing nodes can be deployed on any platform. It can be said that the characteristics and development of blockchain originate from the soil it produces-the development of Internet technology and the rise of cloud computing and big data.
At present, most industry professionals who have a certain understanding of blockchain believe that blockchain is the fourth major breakthrough after steam engines, electricity, and the Internet. Although blockchain technology is still in a basic ascending stage, it will surely change the structure of many industries in the future. The above is to share with you the characteristics of blockchain technology. Do you already understand it? Learn more about blockchain technology.