Recently, blockchain has been mentioned frequently. On October 24, 2019, the 18th collective learning on the status quo and trend of blockchain technology development emphasized that “blockchain is an important breakthrough for independent innovation of core technology” and “to accelerate the innovation and development of blockchain technology and industry”. Blockchain has always been a hot topic. There was a time when all we could think about was all kinds of digital currencies. Blockchain was just a kind of incidental thing. But now, with the “decline” of domestic digital currency, blockchain has re-entered the public’s vision. The concept of blockchain was first proposed by Satoshi Nakamoto, the inventor of Bitcoin. Initially, blockchain was only designed for the digital currency Bitcoin, but the tech community has discovered other potential uses for the technology and gained widespread attention from society.
Such a popular noun, it is possible to take three words apart and understand every word, but when combined, it is obscured. Thinking of such a popular thing, we must also be curious about what it is and what advantages can be favored by various industries. Hopefully, after reading this article, you will have a deeper understanding of blockchain.
What is Blockchain
Blockchain, in essence, is an open distributed database for storing information (data) in computer files. Blockchain gets its name from its structural features: Files consist of blocks of data, each linked to the previous block to form a chain; Each block contains data, such as transaction records and records of when the block was edited or created. The information (data) is marked with time stamps, and this is where the blockchain comes from.
Blockchain technology, also known as distributed ledger technology, is an Internet database technology characterized by decentralization, openness and transparency, allowing everyone to participate in database records. At the same time, unlike a typical centralized database, blockchain is not controlled by any person or entity, and data can be copied and distributed in its entirety at every node in the network. Thus, in blockchain, “everyone is equal”.
The above explanation is still more official, may have seen after also “muddled”. The following through the “two dog son sick to the hospital” story to take you into the world of blockchain, really understand the power of blockchain.
Familiar with the cloud and shoot the public number of articles small partners all know, two dog son is a senior network engineer. Senior, but also through hard work. Two dog son always thought he was young, often stay up late to work overtime to make contributions to the company, the result of a long time found himself often weak, sweating. So, two dogs cruel ask a day off, go to the community health hospital.
Arrived at the hospital, first and the doctor poured bitter water like a description of the disease, spittle flying only in exchange for the doctor’s light words, “first to do an examination”. Two dog son helpless, got up to check, can finish a pile of checks, the doctor looked at the report said, “this disease we can not treat this, or go to a bigger hospital.” Two dog son a listen to panic, so serious, I still so young, I still have a lot of dreams, I can’t shi. So, he quickly made an appointment in the city’s three a hospital, chi chi ground ran to the hospital after, originally thought that this has saved, immediately can cure, the result of the doctor suddenly out of the blue, “come, do a check first”. Two dog son Meng, “I just did, how to do it again?”
Believe everybody also often can encounter such circumstance, same check, go to different hospital to have to repeat to do, waste time does not say, basically be waste money! This is something that makes a lot of people confused… … In fact, we can think of every hospital as a database. When a patient comes to see a doctor, the doctor will upload the patient’s information to the database of his own hospital. But each hospital’s databases are independent, separate and mutually exclusive. So, even though the test was done at the previous hospital, the patient’s information was lost after the change of hospital, so you had to start from scratch. That is the encounter of the two dogs above.
So, if every hospital’s patient information were available at all hospitals, wouldn’t it be cheaper and more efficient to visit patients in the future? In other words, each hospital uploads the patient information to one place, and then all the hospital information is packaged into a block and connected. At the same time, each hospital produces a copy that backs up all the hospital data. In this way, one hospital can see the patient information uploaded by all hospitals. Two dog son to another hospital to see a doctor, the doctor only need to bring out the information before the hospital check, also don’t have to repeat the check.
This information, packaged together, is a block. So what do you call a chain of these blocks? The answer is clear: blockchain.
Advantages of blockchain technology
Through the example, we have a basic understanding of the concept and principle of blockchain. So what are its advantages worth people from all walks of life to respect it? In addition to distributed node information sharing, blockchain technology has the following advantages:
1. More safe
In the traditional information system security scheme, security depends on the access control with layers of fortification. For example, a dedicated computer room, a proprietary network, and a full range of security software, in such a tight protection, the interface is opened on the one of the special access channels. Anyone must pass the identity authentication, authentication, can enter the database by the dedicated channel, read or write data, and leave a history record.
But again strict protective measures will also have “vulnerabilities”, the so-called “close”, hackers are good at through these “vulnerabilities” to attack information data. But what about using blockchain technology? Even if one node is attacked, it is not afraid, because all the data remains on the other nodes. Take the hospital above as an example. In the past, each hospital only kept information about its own patients. If one of the hospitals was attacked, that hospital’s information would be lost. And with blockchain, patient information isn’t unique to just one hospital. Even if a hospital is attacked, patient information is not lost. In this case, every hospital is not its own center, and all the data is the same, which is also called decentralization.
2. Prevent tampering
In blockchain, once information is verified and added to the block, it is stored permanently and cannot be modified. This also benefits from its clever design and with the help of cryptography and consensus algorithm, the database history record can not be tampered with. Blockchain adopts one-way hashing algorithm, and the irreversibility of time leads to the easy traceability of any attempt to intrude or tamper with the data information in the blockchain, thus improving the corresponding security.
As we said earlier, each hospital uploads its own information to a blockchain like this. And each family keeps a copy of that information. So when someone tries to tamper with information maliciously, all hospitals refuse to do that because it doesn’t match what’s left, and that’s called a distributed ledger.
Concealment of the 3.
At this point, you may be wondering, since every node’s information is fully shared and publicly available, isn’t that information available to everyone? Isn’t the data all leaked? Don’t worry about it. Because the data in the blockchain is encrypted, it looks like gibberish. Data can only be displayed with authorization.
It is precisely because of the advantages of blockchain, such as decentralization, immutability, whole-process trace, traceability, collective maintenance, and openness and transparency, that the information it carries can be authentic and effective, and this technology can be recognized by all countries.
Application fields of blockchain technology
Reading this, I believe you will find that blockchain is so powerful that it is worthy of national emphasis on innovative technology. From the technical level, blockchain involves many technical issues such as mathematics, cryptography, Internet and computer programming. But from an application perspective, we can go beyond the specific technical problems to think about complex phenomena in terms of basic principles. The huge application scenarios of blockchain are basically based on the fact that blockchain can solve the problem of information asymmetry and realize the cooperation and trust and unity between multiple subjects.
1. Data authenticity
The “immutable” feature of Blockchain provides a solution to the problem of “proof of deposit” in social development. As long as the authenticity of uploaded information and data can be ensured, blockchain can solve the problem of “storing” and “verifying” information. In finance, justice, medical care, copyright and other fields that require high data authenticity, blockchain can create safe and efficient application scenarios. At the same time, because the blockchain records all the transaction information, the blockchain itself can form a credit investigation, providing a new idea for the realization of social credit investigation.
2. Information sharing
The “distributed” characteristics of blockchain can break down the “data barriers” between departments to achieve information and data sharing. In the field of public service, blockchain can realize the joint maintenance and utilization of government data across departments and regions, bringing better experience of government service to the people. At present, Hangzhou has begun to implement the “only run once” for business characteristics. It can be predicted that with the landing of “block chain + government affairs”, cross-departmental business cooperation will become normal, and there will be no need to ask for leave to go everywhere.
Trust each other
Blockchain forms a “consensus mechanism”, which can solve the problem of information asymmetry and truly realize the transformation from the “Internet of information” to the “Internet of trust”. Trust is the cornerstone of the functioning of a market economy, and it is a scarce commodity. Many of the problems in economic development are difficult to solve, largely because of a lack of trust, high transaction costs and high default risk. Blockchain can enhance the information credibility of the upstream and downstream of the supply chain, and solve the “crisis of trust” in society through the open and transparent information on the chain.
Now, the application of blockchain technology has been extended to digital finance, the Internet of Things, intelligent manufacturing, supply chain management, digital asset trading and other fields. At present, the world’s major countries are accelerating the layout of blockchain technology development. China has a good foundation in the field of blockchain. We should accelerate the innovation and development of blockchain technology and industry, and actively promote the integration of blockchain and economic and social development.
Of course, the future of blockchain is here, but it’s also important to be rational. Blockchain technology and cryptocurrencies come together, but blockchain technology innovation is not the same as hype virtual currency. At the same time, blockchain is still in the early stage of development, and needs to be further developed and improved in security, standards, supervision and other aspects. Avoid the rush to the top, repeated construction, to be able to open the imagination of the blockchain in the orderly competition. China has a good foundation in the blockchain field, a relatively sufficient talent pool and a variety of application scenarios, and is fully qualified to take the lead in this new track.
Let’s wait and see what the future holds.
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