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Blockchain technology is a decentralized, distributed, and non-tamperable data storage and transmission technology. It is based on a chained data structure and uses cryptographic algorithms to ensure the security of data transmission and access. It allows multiple participants to reach consensus without the intervention of a centralized third-party organization, and all data is open and transparent. Speaking of blockchain, perhaps the first thing that comes to mind is virtual currency and mining, but after a deeper understanding, you will find that it is a completely disruptive technology.
Let’s split the word blockchain into “block” and “chain”. What is a block? If you are a store owner and you sell a lot of goods every day, you need a ledger to record the sales of these goods. For example, the ledger on December 1st, the ledger on December 2nd, each one here The ledger is equivalent to a block. When we encrypt these ledgers and store them in our server, it forms our blockchain network. The server is equivalent to a node. Each block will be stored in multiple nodes at the same time. If you want to modify the data of a certain block, at least 50% of the nodes need to be modified. Therefore, the more nodes there are, the better the blockchain network will be. The security will be higher.
Then according to the different blockchain nodes, the blockchain is also divided into different types. The first type is called the public chain. It is characterized by a very large number of nodes, so its security is very high, which is more representative. The most popular one is BTC, which has about 100,000 nodes, but the public chain also has an obvious shortcoming, that is, the transaction speed is relatively slow, because it needs to run a lot of nodes when storing data, so its storage time is relatively long. It is generally not suitable for commercial scenarios. Just like Bitcoin, it may take two hours to initiate a transfer, which is simply not suitable for a scenario such as shopping.
The second type is called a private chain, which is characterized by a small number of nodes and relatively low security. However, its advantage is that the transaction speed is very fast. This type is generally not suitable for business because Its security is too low; the last one is the alliance chain, which is built between the two. It is characterized by a relatively large number of nodes, high security, and fast transaction speed. For example, like Ant Chain, Zhixin Chain, Wenchang Chain, etc. In the current business scenario, the application of alliance chain is very wide. It is suitable for many enterprise platforms. If you have needs in this regard, you can leave a message in the comment area or Send me a private message and we can discuss the business model that suits you. #blockchain#consortium chain