In January 2009, the Bitcoin network based on the blockchain structure came out quietly, which combines important achievements such as modern cryptography and distributed network technology. In the few years after the emergence of Bitcoin, the Bitcoin network has stably supported a large number of transfer transactions in a purely distributed scenario, which proves that the blockchain data structure is a good solution to the basic needs of distributed bookkeeping. Based on the blockchain structure The distributed ledger technology began to appear in large numbers.
1. Technical characteristics of blockchain
The technical characteristics of blockchain are as follows:
A. Distributed fault tolerance
The distributed ledger network is extremely robust and can tolerate abnormal states of some nodes.
B. Cannot be tampered with
The data submitted by the consensus will always exist and cannot be destroyed or modified.
C. Privacy protection
Cryptography guarantees data privacy, and even if the data is leaked, it cannot be analyzed.
Second, the business characteristics of blockchain
The business characteristics of blockchain are as follows:
A. Credibility
Blockchain technology can provide a natural and credible distributed ledger platform without the participation of additional third-party intermediaries.
B. to reduce costs
Compared with traditional technologies, blockchain technology may bring faster transactions through automated contract execution while reducing maintenance costs.
C. to enhance security
Blockchain technology will facilitate safe and reliable audit management and account settlement, reducing the risk of crime.
3. Characteristics of distributed ledger technology
The characteristics of distributed ledgers based on blockchain are as follows:
A. To maintain a growing chain, it is only possible to add records, and once the records are confirmed, they cannot be tampered with.
B. Decentralized or multi-centralized consensus does not require centralized control, and the implementation is as distributed as possible.
C. Use cryptographic mechanisms to ensure that transactions cannot be denied and destroyed, and try to protect the privacy of user information and records.
