Blockchain is a chain data structure that combines data blocks in a specific order in chronological order. It stores records of all transactions since the birth of the system.
The data on the blockchain is jointly maintained and stored by nodes throughout the network, and cryptography ensures that the block data cannot be tampered with or forged. So the blockchain is essentially a distributed shared database.
So, what are the characteristics of blockchain technology?
1. Decentralization
Decentralization means that the status of each node in the network is equal. Transmission of content and transaction data no longer needs to go through a central node, and data is no longer stored on the central node. This can prevent problems caused by the excessive power of the central node. risk. In the blockchain model, each node stores all value exchange data in data transactions, replacing the model in which a central computer stores all information.
In addition, each node will not only participate in data storage, but also verify the correctness of the information recorded by other nodes. Only when the correctness of a certain record is recognized by most nodes, or when the comparison results of all nodes are consistent, can it be written into the chain.
At the same time, in order to protect data information from being lost due to node attacks or other accidents, the blockchain will conduct distributed storage of all data (store the data in every participating node in the network), and update it in real time, extremely The security of the database is greatly improved.
2. Information cannot be tampered with
In the blockchain network, each participating node saves a complete transaction history record. In this way, if any node wants to tamper with these historical records, other nodes can take out their own data backup for falsification. Therefore, once the information is written into the block, it cannot be changed or revoked.
3. Information transparency
Projects and data in the blockchain are open and transparent. The blockchain project team will publish the project information and project code. The data in the block will be disclosed on the blockchain after processing, which means that all transaction information is publicly visible. In a very short time, the block information will be sent to all nodes in the network to achieve data synchronization across the entire network. Each node can trace back all past transaction information of both parties.
4. Can be jointly maintained
In the entire blockchain system, both value providers and value recipients can act as maintainers to jointly maintain the reliability of the entire blockchain information.
The blockchain system is open. In addition to encrypting the private information of both parties to the value transaction, the system is also jointly maintained by all participating nodes. Any node can query blockchain data and develop related applications through the public interface for joint maintenance. Information transparency and trustworthiness of the entire system.
