Blockchain is the application of technologies such as distributed data storage, point-to-point transmission, consensus mechanism, and encryption algorithm. Simply put, the difference from ordinary technology is that ordinary technology will store a file on a computer, advanced technology will be placed on the server, and blockchain will store a file on all terminal computers, each time This file exists on every computer and is stored encrypted.
The problem to be solved by the blockchain is to allow this record method to be shared by all nodes without being controlled by any node. The so-called control means having the ability to add, modify, and delete records at will. And once any stored data has this property, there is a lot of room for imagination. For example, everyone's account books are recorded together, and no one can default.
The blockchain is not mysterious, it is just a method of recording data, it appeared to make the recorded data more secure.
In the traditional transaction model, we need a trusted third-party institution to complete the transaction, such as a bank and Alipay. This institution is based on a "trust" transaction model. We believe that the bank and Alipay will not cheat and ensure the reliability of the transaction. The two parties who trust the institution conduct transactions under the guarantee of this institution. For example, if A wants to transfer money to B, then A will first transfer the money to institution C, and then C will transfer it to B.
So there are two big problems here:
1. If the center is destroyed, the ledger information and deposit information will also be destroyed, and the customer's money cannot be guaranteed
2. Can the center really be trusted? What if the center itself cheats?