Is the blockchain a bitcoin? What is special about the blockchain?

The blockchain concept is getting hotter and hotter, and bitcoin is a rising price. So some people will ask if the blockchain is bitcoin? What is the security of the blockchain? What is unique? This article will answer one by one.

At the beginning of the new year, in addition to the live answer, the hottest block is the blockchain. Blockchain concept stocks such as roller coaster-like stock prices, announcements of the Shanghai Stock Exchange and the Shenzhen Stock Exchange, clarification of major companies... The blockchain is really busy. Although many people are screened by blockchains, few people can really tell what the blockchain is.

Is the blockchain a bitcoin?

The blockchain is known to the public from Bitcoin and the ICO that was supervised and stopped last year. As the underlying technology of Bitcoin and various "tokens", many people mistakenly believe that the blockchain is bitcoin. In fact, this understanding is wrong. Industry experts said that it should clearly distinguish between virtual currency and blockchain technologies such as Bitcoin, shutting down virtual currency exchanges, and prohibiting Bitcoin platform trading from conflicting with the current development of blockchains.

Dong Xiwei, a senior researcher at the Chongyang Financial Research Institute of Renmin University of China, said that it is necessary to distinguish the banned ICO from the bitcoin and distinguish the rectification of bitcoin from the blockchain technology. The governance measures of China's regulatory authorities are not intended to suppress blockchain technology, but to curb various illegal GRJs to maintain financial order and protect the public interest.

In June of this year, the ransom virus hit Europe again, and some government employees were asked to pay ransom in bitcoin.

The essence of blockchain is database technology?

After figuring out these concepts, let's take a look at what is a blockchain. Wang Wei, chief researcher of Tencent Financial Technology Think Tank, told Zhongxin.com that the blockchain essence is a database technology, specifically a book-based technology. A ledger is a record set that records changes in one or more account assets and transactions. It is actually the most simple database. The flow accounts that we usually record on small books and the statements sent by banks are typical books.

Hu Danqing, senior product expert of Ant Financial Blockchain, said that blockchain is a distributed account book with multiple parties involved, and it is called "the technology to solve the problem of trust". The essential difference between the digital world and the physical world lies in the fact that things in the physical world exist and cannot be created or disappeared out of thin air. But the data in the digital world can be deleted, changed, or copied out of thin air without any traces. But with blockchain technology, the digital world can be as authentic as the physical world.

What is the security of the blockchain?

So what is the difference between the hot blockchain technology and the characteristics of traditional databases?

Wang Wei explained to Zhongxin. First, the blockchain is a distributed database technology. Distributed technology mainly refers to the storage architecture. The distributed architecture adopted by the blockchain not only stores the book data on each node, but each node must contain the data of the entire book. This thorough distributed architecture brings a high level of security, and no one can destroy all the nodes at the same time.

Second, blockchain technology can achieve tamper resistance through “blocks” and “chains”. The blockchain stores the data unit as a block. When each block is generated, it must contain the unique "feature value" of the previous block (which can be regarded as the ID of the block). Each block is strictly generated. The order of time is lined up to form a "chain."

The 2nd China Blockchain Technology Innovation Application Competition Awards Ceremony.

How is the blockchain tamper-proof?

If someone changes the content of a certain block, then the unique feature value of the block will also change, and the subsequent block will not recognize it immediately. This "fake" block has only a broken chain.

Wang Wei added that most of the databases are centralized. If we deposit money into the bank, we have to trust the bank to record our transactions truthfully, without remembering or remembering. But the blockchain is “decentralized”. It does not have a centralized management organization. It only presupposes an open and transparent consensus algorithm. Any transaction that satisfies this consensus algorithm can be written into the ledger. Set a rule that everyone can see and understand, and act according to the rules.

Wang Wei stressed that security is a major feature of blockchain technology. However, from the perspective of privacy protection, the blockchain emphasizes openness and transparency. Any node has the right to operate according to the consensus algorithm, so it is not suitable for scenarios that need to protect data privacy.

What areas can the blockchain be used for?

Sun Guofeng, director of the People's Bank of China Financial Research Institute, said in an interview with the media that blockchain technology can be applied to many fields and scenarios, including some social management field scenarios, and needs to further broaden the horizon of research and development of blockchain technology.

Zhongxin.com notes that at present, enterprises have applied blockchain technology to public welfare to promote public welfare to be more open and transparent, and to ensure that every money donated by users is transparent, traceable and non-tamperable; The blockchain is used in the authentic traceability of goods, helping the rental platform to achieve real estate and real-life mutual trust.

Chongqing City Blockchain Industry Innovation Base Unveiled

Some enterprises have also launched shared account books to solve the problem of information sharing, such as public welfare search, and the information sharing and synchronization of lost children's report information among multiple public welfare platforms in the alliance.

"The use of blockchain to solve the problem of trust has great value in modern business society." Wang Wei said that to judge the appropriate application of blockchain technology in a field, four questions can be asked: First, is there a high demand for data security? Second, is there an organization that is fully trusted by all parties involved? Third, is the demand for data processing efficiency low? Fourth, is the data privacy requirements not high? If the answer to the above question is yes, then the scene is a scene suitable for the blockchain.

How to rationally treat the blockchain boom?

In the face of the blockchain boom, Hu Danqing said that the blockbuster heat is not the heat to solve the problem of trust in technology, but the heat in the fund-raising circle, speculation valuation. The vast majority of so-called ICOs are fund-raising tool innovations that have nothing to do with technological innovation.

“The basis for judging whether it is technological innovation or fund-raising innovation is very clear: whether it starts with trust and whether it creates real value by solving the problem of trust. Without the foundation of value source, the coins with high market value are all in the air, and dumping is a matter of time. Hu Danqing said.

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