Blockchain Technology, Principles

Blockchain refers to a technical solution that collectively maintains a reliable database in a decentralized and trustless manner. The technical solution mainly allows any number of nodes participating in the system to associate a series of data blocks (blocks) generated using cryptographic methods. Each data block contains all the information exchange data of the system within a certain period of time, and generates Data fingerprints are used to verify the validity of their information and to chain the next database block. Blockchain is a general term for technical solutions like NoSQL (non-relational database). It is not a specific technology. Blockchain technology can be implemented through many programming languages ​​and architectures. And there are many ways to realize the blockchain, the common ones include POW (Proof of Work, Proof of Work), POS (Proof of Stake, Proof of Stake), DPOS (Delegate Proof of Stake, Proof of Share Authorization Mechanism) and so on. The concept of blockchain was first proposed in the paper "Bitcoin: A Peer-to-Peer Electronic Cash System" by an individual who calls himself Satoshi Nakamoto (or group). Therefore, Bitcoin can be regarded as the first application of blockchain in the field of financial payment.