Blockchain is a distributed chain structure database that is maintained by multiple parties, uses encryption technology to ensure the security of information transmission and access, and stores in time series. The basic unit of blockchain storage is a block, which records the process and results of all state changes during storage. The newly added block retains all the information of the previous block. Each block is arranged in the order of generation and connected to form a linked list. , Which constitutes a blockchain. Blockchain has built a unique trust mechanism due to its technical characteristics such as non-tamperability, smart contracts, and distributed storage, and has been widely used in urban areas. Compared with traditional databases, blockchain has the following main features
One is distributed storage . In traditional distributed computing, massive data is divided into hundreds or thousands of pieces and handed over to multiple servers for parallel operation to realize rapid calculation of massive data. Blockchain distributed storage is to synchronize all data to each node of the network. There is no central node, and each node is equal, and the entire database is stored. Therefore, the more nodes in the distributed storage architecture of the blockchain, the higher the security of data storage.
The second is not to be tampered with . Traditional databases have four classic operations: add, delete, modify, and query. Blockchain abandons "delete and modify" and only retains the two operations of "add and query". For the entire network data, encryption technology is used to ensure the security of information transmission. The data transmission history is superimposed into the block over time and advances in strict chronological order. Time irreversibility makes any attempt to invade and tamper with blockchain data easily traceable, leading to rejection by other nodes, thereby effectively limiting related illegal behaviors.
The third is multi-party maintenance . A traditional database is a unilaterally maintained information system. Whether it is a distributed architecture or a centralized architecture, it has a high degree of control over data records. The blockchain introduces a consensus mechanism maintained by multiple parties. The written data is not unilaterally controlled by a single entity. It needs to be verified by multiple parties to form a consensus before it can be written. Changes in data maintenance methods have enhanced the consistency of data storage.
The fourth is smart contracts . Traditionally, financial capital flow and business information flow are two completely different business processes. After a business cooperation contract is signed, after manual review and identification of the results, the finance is notified to make a payment to form a corresponding capital flow. Based on pre-agreed rules, smart contracts form a "built-in contract" that integrates and synchronizes the flow of information and funds through algorithm codes, realizing automation and intelligence for contract performance.