What is Blockchain Technology

Blockchain is a technical architecture. This system has data that cannot be tampered with. The data can be traced back. The whole system has the feature of not trust third parties.

It is a combination of four original technologies. These four technologies constitute blockchain technology. They are asymmetric cipher and Hash function. Secure multi-party computation is essential. Peer-to-peer network is important.

Asymmetric cryptography is public key cryptography. This statement is relative to the traditional symmetric password.

In the secret connection system, plain text needs to be encrypted. Password can generate cipher text. The cipher text needs to be restored to plain text. It is by inverse operation of the password.

All passwords are the same. The encryption password and the decryption password are the same. The original codes of these passwords cannot be disclosed. Once the secret is disclosed, there will be no protection. For this kind of system, the efficiency in application is high.

Asymmetric passwords are important in many aspects. Both digital identification and wallet address use it.

What is the Hash function? The blockchain under the Hash function realizes the integrity of data in the block in application. The sureness of data transmission between chains is important.

If the transaction record changes, we can find it. No matter whether the data in the block changes or the data between the block chains changes.

The data in the blockchain has network-wide consistency. Peer-to-peer protocols achieves this.

In the peer-to-peer network system, the operation of the whole system does not involve the central node. This design talent ensures the stability and robustness of the system.

The four most basic technical foundations have their own specific application scenarios and. They have unique functions.

It combines these four technologies. It is according to the technical framework of the blockchain. They generate a complete blockchain system. Third parties will trust this system. The data cannot be tampered with.

The combination of different technologies has created a blockchain. It gives birth to new technologies. This new technology endows new functions. It enables the new to be used.

Blockchain is a problem of technology application. It is a technology that recombines the blockchain through other technologies. Applying its newly generated functions to a wider space is important. It combines larger and more application scenarios. It can create more value for society and human beings.