We all know that blockchain is the underlying technology of Bitcoin. It can be said that it is a distributed database, or it can be said that it is a shared ledger that stores transaction records of encrypted digital assets (such as Bitcoin). Its records are encrypted and held by all machines running the software.
To talk about blockchain, it is inevitable to talk about digital assets. After all, blockchain was created to meet the unique needs of Bitcoin. Bitcoin, on the other hand, originated from a mysterious figure, Satoshi Nakamoto. In 2008, Satoshi Nakamoto published a paper "Bitcoin: A Peer-to-Peer Electronic Cash System", which is the basis for the invention of blockchain technology and encrypted digital assets. Several basic principles of Bitcoin are presented in this paper:
1. A pure peer-to-peer electronic cash system is an online payment that can be directly initiated by one party and paid to another without going through any financial institution.
2. Double payment can be prevented without third-party support of credit. The peer-to-peer network environment is a solution to double payment.
3. Add time-cuts to all transactions and incorporate them into a continuously extending hash algorithm-based workload proof, and the resulting transaction records will not be changed.
4. The longest chain will not only serve as a proof of the observed time series, but also be regarded as the largest pool of computing power from the CPU (Central Processing Unit). As long as the computing power of the majority of the CPUs is not dominated by nodes cooperating to attack, then the longest chain that is longer than the attacker will grow.
5. The system itself requires very little infrastructure. The node can spread information in the whole network. The node can leave and rejoin the network at any time, and use the longest proof of work as the transaction that occurred during the offline period of the node. proof. After reading the viewpoints and logic of the appeal, do you already believe that such a theory is feasible without centralized intervention or participation, as long as the network plays the role of a credit intermediary, effective peer-to-peer transactions can be achieved. According to this theory, the first bitcoin transaction system was created, the first block (the genesis block) was created, and the first bitcoin payment case was created. So far, bitcoin has been running stably for several years. , there have been no serious technical errors.
In fact, as the underlying technology of Bitcoin, blockchain and Bitcoin are not simply a father-son relationship, and blockchain is not an accidental product of Bitcoin. The emergence of the blockchain is accompanied by the emergence of Bitcoin. The blockchain reflects the availability of Bitcoin, and this carrier provides a broader interaction possibility.