What are common misconceptions block chain?
This week, the domestic chain block fire to what extent?
After the state issued a call to the business sector would like to know the block chain knowledge, we want to invite professional information sector companies about lectures.
We contacted experts one of the four major accounting firms worked with, ask them to tell us about the block chain.
Previously, always take the initiative to contact us to see what can help, but this time they asked whether or not lecture fees? Please speak because they block chain companies too much, if there is no lecture fees not come.
Hot it is yes, but the popular level to the "one person, hard to find" really surprising.
That in the end what is the block chain? It will give individuals, businesses, community bring any change? People do not quite understand, or even the existence of errors.
To meet the needs of everyone, to Thursday laugh teacher spent hours writing a book on the block chain: "block chain white book", and built a website to book revenue on the Internet, the address is https : //blockchainlittlebook.com/#/, writing is very user-friendly, interested students can read.
Have been listening to the teacher laugh practice lesson is scheduled to vote on the knowledge the book is not new. Combined with the contents of "block chain white book" smile to the teacher, and their own understanding, talk about the white are on the block chain common myths.
1
Misunderstanding, credits equivalent to a bit block chain.
To clarify their relationship, it is necessary to find out their concepts.
What is Bitcoin? To laugh teacher in the book there is a good, simple, easy to understand analogy helps us understand Bitcoin.
He said issuer Bitcoin is like a World Bank, this is called "Bitcoin" the World Bank issued a called "Bitcoin" encrypted digital currency.
Currency banknotes in circulation, at home may be lost or stolen, the bank will have some income, but assets will face security problems.
Because the banking system for accounting, billing data is centrally stored and may be artificially tampering not prevent altogether.
Block chain technology is "bit credits" in the accounting bit Bank credit transaction process, it can be prevented from human tampering or theft of billing data.
The basic principle is distributed billing, do not put eggs in one basket. Each node in the network block chain has an account, and books must be the same with other nodes, change node only their own data can not be recognized by other nodes and ineffective.
In the process of accounting, the books that is continuously generated sub-block (Block), the sub-books through the hash algorithm that is linked with the total book block chain (blockchain).
As can be seen, and bitcoin block chain is not a concept, is the world's first bitcoin block chain technology using encrypted digital assets, block chain technology is to protect the safety of bitcoin transactions and the use of distributed database technology .
2
Myth, Bitcoin miners dug directly, then selling profit.
Block chain using a distributed database technology for Bitcoin transactions are accounted for, the books you want to modify the whole network, only 51% of the entire network node in the node data is modified to succeed.
As long as the number of the whole network nodes enough, tampering need to spend more resources will it be possible to modify the data. The greater the number of network nodes, the higher the safety factor Bitcoin transactions.
"Bitcoin" the World Bank in order to attract users to participate in building block chain network strategy is profit-driven, the direct use of "Bitcoin" bonus builders.
These builders is that we often hear of the "miners", they will be counted Resources Jiarubite currency of a certain scale of the network, the use of every sum of Bitcoin transaction information received hash algorithm.
After thousands of miners use of resources will pen the Bitcoin transactions packed into a sub-books (block), after the data has been verified, then the new books added to the original sub-ledger (block chain).
Many mining network of people, the first complete block package, and the whole network broadcast and attached to the miners in the chain will be bitcoin reward.
Then the miners will be calculated based on the new block starts a block, so the cycle of the cycle, this book is getting "thick."
And tile generation block chains are attached to confirm once every 10 minutes, while "bit credits" Bank made a certain number of bits credits "red" awarded to the miner.
Initially participants or miner Bitcoin transaction, like a snowball, more and more people involved in the transaction, more operators will join forces, the size of the nodes of this network will be increasing.
You can see, the miners dug actually not Bitcoin, but transaction data, after packing the chain to get Bitcoin reward.
The process of mining the miners actually provide a service, get paid a certain bit of money through the Service.
Of course, eventually the whole network circulation of 21 million bitcoins, send? After completing the miners can be obtained bitcoin transfer fee paid by providing accounting services.
3
Myth Bitcoin no core values and application scenarios, the high price of being entirely hype up.
The book describes the amount of the final release Bitcoin 21 million, according to the release mechanism every four years by half, continuing for 142 years will be finished.
Now the number of global bitcoin holds roughly 30 million is not high, and more and more people recognize the value of Bitcoin, so in the long run is the contradiction between supply and demand, the price of long-term upward trend.
Of course Bitcoin 24-hour trading, short term trading game, this price volatility is inevitable.
About scenarios, Bitcoin cross in remittances is the norm, this is as an encrypted digital currency advantage of P2P (peer to peer) transfers.
As people through domestic commercial banks to transfer some small US banks, the business operation can not immediately realized, because many US small and medium banks and commercial banks in China is no settlement business dealings.
Domestic commercial banks to transfer large banks give the United States settlement, which the US bank and then transfer to small and medium US bank account, this work certainly take several days to complete.
Bitcoin transfers How long? It may be just 10 minutes to get this on the very advantage.
Global multinational companies doing business in each country every day, traffic in the settlement of this multi-currency global scale is enormous magnitude. If sovereignty encrypted digital cash settlement, to reduce costs and enhance operational efficiency will be of great help.
These are the Bitcoin value as a financial attributes, there will be more broad application prospects in the public sector.
Block chain is the future trend of development, individuals and businesses comply with the development trend only possible to be successful.