Recently, Facebook's global encryption monetary items Libra formally launched the official website and publish the White Paper. A world-class Internet giant block chain technology not only adopted, but also made money, influence is self-evident. Some people even believe that this is the second since 2009 Bitcoin, 2013 Ethernet Square, the most important field of digital currency in a white paper.
This is not a true representation of the block chain outlet coming out?
Many of my friends have heard about Bitcoin, a digital currency of these concepts, but did not understand. Here we have to explain what the block chain is, what it can bring it with us daily hear Bitcoin and what is the relationship?
What is Bitcoin?
We can look at this video:
Uncle and explain bitcoin block chain - "easy to understand" www.bilibili.com
In fact, the uncle was perfect interpretation of what is Bitcoin block chain. Next we tell a story, so we have these concepts more clearly.
Suppose there are four people in a room, namely A, B, C, D, and they know how much the balance of the account of others, but also demand financial transactions between them, but do not trust each other, so they figured out a way that the transaction will be generated in the room and told everyone it was recorded . One day, for example, methyl ethyl lend $ 10, in order to prevent future Repudiation B, A tells B took everyone in the room, I lend B $ 10, B said: "! Yes, yes."
Then everyone heard and confirmed, is methyl ethyl lent $ 10, go to modify their books, account balance minus A $ 10 B accounts increased by 10 yuan. By passing the same until everyone's books. This process is a decentralized process.
Currency and the bit is actually on the books to the center of an Internet, a peer to peer encrypted digital currency, the entity is not visible and tangible RMB dollar bills such, it is a computer generated by a particular mathematical calculations, are also stored in the computer. Due to a series of data bits credits only computer, the paper currency relative terms, it is also called "virtual currency." In simple terms, you can understand Bitcoin is a bunch of digital cash value only.
From the bit to block chains credits
So what is it block chain, we continue to take the above example to illustrate.
The transaction generated billing process, over time we will pack a number of transactions recorded. Parent bits of credits Nakamoto a package designed reward, every 10 minutes to make a bag, the first four years of each 50-bit packet bonus credits, awards four second half, the third four rewards again halved, and so on. So that we can calculate from January 3, 2019 to 2040 landing Bitcoin currency does not increase the total number of bits, the total is 21 million bitcoins.
But if everyone recorded the bill, and at the same time say the record number, but we only need one package, then we subject it to who? Nakamoto was to submit a proof of the workload. That is, each person involved will need to do a bookkeeping operation, the main principle of operation is based on SHA256 hash algorithm period of 256 binary string, and the first to calculate the result of the operation of the people, can package and receive packaging award.
Bill above transaction, we will be packaged, packed into a block, called blocks. Each block contains a number of transactions, then each block together into one chain, eventually distributed, it was agreed that the books database, which is the block chain. If the block chain compared to a ledger, then the block is the account of each page, to make it every transaction detail records in the public account books everyone can see.
Briefly, an application token bit chain block, and a block chain technology underlying technology bit token.
Imagine the future block chain
The block chain is essentially a solution to the issue of trust, trust reduce the cost of IT solutions. The application block chain technology, to overturn the traditional center of the old model of trusted intermediaries. Does not require centralized intermediary trust, we can solve the problem of trust between strangers, dramatically reducing the cost of trust.
Simply look at the block chain technology is applicable to what it? Block chain used in banking, decentralized technologies that simplify and automate some of the processes of the bank, the bank can reduce the cost of service and rate of pay. Block chain used in insurance, mutual insurance can establish peer platform, once someone sick, the hospital is the only legitimate data providers, including medical records, medical progress and status of other patients. The participants will pay fees directly to affected members. This can be achieved by block chain technology that allows funds more transparent. It also avoids some of the cheat before Crowdfunding by Nongjia cases from happening again.
These are a bit above may be far away from our daily life a little, following relatively close to life. Daily you some expensive electronics or luxury products, more product is bothering you more authenticity, you may need to go to the counter to detect the hand did not know whether the goods is genuine, time-consuming and laborious. In fact, block chain technology in the supply chain can solve this problem. Based block chain technology, manufacturers will link each product information by accounting way to block the chain, after the dealers, logistics, and ultimately the consumer any information of this process is also registered into the change, achieve full product information azimuth coverage, any information can be tracked through the block chain. Consumers can distinguish authenticity by looking at the block chain information.
Block chain deserves our understanding and concern, although still in the embryonic stage of development, but only for some time, the block chain will mature. Its future may be extended to multiple intelligent field of smart farming, smart home, intelligent manufacturing, and other, closely related to our lives.
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