Over time, we learned from the person in charge of the blockchain technology research team of China Enterprise Tongbao that the emergence and maturity of innovative blockchain technology has made the industry begin to focus on the blockchain technology itself. First of all, there is an innovation in the deployment method of the blockchain. On the basis of the public chain of Bitcoin (everyone can participate), the alliance chain and the private chain are currently extended. These chains have limitations in the degree of information disclosure and central control.
The alliance chain adopts a multi-center type, and the participating members are pre-set according to certain characteristics (for example, the strategic analysts of each securities firm). The alliance chain is easy to set control permissions, has higher application scalability, and has great application value for transactions, clearing, settlement, auditing, etc. within the industry (such as securities companies) or across countries and alliance institutions.
Private chains are not decentralized, but have distributed characteristics. The central controller specifies the range of members who can participate and conduct transaction verification. Private chains are of great value for auditing and testing within corporate governments.
After the shortcomings of Bitcoin began to be exposed, a large number of altcoins began to appear, expanding the application scope of blockchain technology. For example, Ripple, the world's first open global bank remittance and payment system, the core is the Ripple payment protocol based on the decentralized idea of the Bitcoin blockchain, thus challenging the traditional inter-bank SWIFT system.
In the Ripple system, virtual currencies such as Bitcoin, as well as physical currencies such as USD, EUR, and RMB can be circulated and supported by the system. Ripple coins provide liquidity and security to the system. As an excellent improvement in alternative blockchains, Ethereum has risen rapidly recently. The key is that it has achieved a good combination of blockchain and smart contract technology. A smart contract is to implant some code into an asset, which can automatically and intelligently decide where and how the relevant asset in the network operates. Ethereum is committed to creating an excellent underlying protocol that provides a super Turing-complete scripting language.
