What is the blockchain? The development and application of block and chain

What is the blockchain? The development and application of block and chain

Block chain, from silent as the underlying technology bitcoin to stand in the spotlight of the world cutting-edge technology, it is just a blink of an eye. According to reports, as of the end of April 2017, the global total of 455 home block chain company to obtain a total of $1 billion 947 million in financing, a number of China investment company a total of 61, ranked second in the world, with the deepening of the blockchain +, is expected to lead the new wave of technology investment.

What is the blockchain?

When it comes to block chain, we first thought is probably bitcoin. Bitcoin (BitCoin) concept initially by the mysterious author Nakamoto proposed in 2009. The block chain is the basic technology of bitcoin, Nakamoto in 2008 release of “Bitcoin:APeer-to-PeerElectronicCashSystem” in the first detailed description of it. Although the blockchain word in the Cong in the original papers was mentioned several times, but in recent years, the block chain can become a generic term. What is the block chain? Block chain is a distributed computing network, each node of the network in the implementation and record the same transaction, these transactions are included in the final for one block, one can only add a block to the network, each block contains a mathematical proof of the to ensure that this has been added, add blocks and blocks in the network is in a sequence. In this way, the blockchain “distributed database can guarantee the data consistency in all network nodes in the. Personal interaction with the general ledger by strong password protection. In the etheric Fang protocol, validation and maintenance of the network will have a reward. This “validation and maintenance” is what we usually say the familiar “mining, validation and maintenance of the network of people known as the miners, and” reward “in the bitcoin refers to a bitcoin token.

In bitcoin, the distributed database is regarded as a large table storage account balance, a general ledger, transaction refers to promotion between individuals without credit financial transactions bitcoin token transfer. But with more and more experts from bitcoin’s attention, a growing number of new projects started to use the bitcoin network, but its purpose is not only to transfer the token bit. Now, many copycat coins have been developed, they all use their own independent block chain and upgrade the original encryption currency, bitcoin protocol, add a lot of personalization features and capabilities. In 2013, the inventor of Ethernet Fang VitalikButerin proposed one can perform complex operations of arbitrary block chain.

A block chain platform – Ethernet virtual machine workshop

In 2014 three, Fang Ethernet founder VitalikButerin, GavinWood and JeffreyWilcke to create the next generation block chain platform, a general without credit, intelligent platform contract! Ethernet square is a programmable block chain, it not only provides some predefined operation to the user (such as bitcoin transactions, he only) allows the user to create any etheric Fang belong to their own complex operations. Serve as a platform for the etheric Fang dispersed different block chain application.

The narrow sense, the etheric workshop is a series of agreements, its core is a complex code can execute any Ethernet virtual machine workshop (EVM). Developers can be modeled using Python JavaScript, the existing friendly development language to develop can run in a virtual machine on.

Like any other block chain, the etheric Fang also contains a point-to-point network protocol. The database is composed of square Ethernet links of the network each day to maintain and update the point. Every node in the network runs the same virtual machine, and performs the same operation instruction. For this reason, the etheric Fang is sometimes called a “computer world”.

Ethernet network workshop large-scale parallel computing is not in order to improve the computational efficiency. In fact, this process makes the etheric Fang on the operation than the traditional computer is much slower and pay a heavy price. On the contrary, each etheric Fang virtual machine operation is to ensure the consistency of the whole network data block chain. The whole network in each virtual machine operation is to ensure the consistency of the whole network data. Fault tolerance consistency to the whole network extreme dispersion ability; never downtime; anti censorship ability. And that is stored in the block on the chain data retention will never change.

Ethernet frame workshop itself does not have what special function. As the program language, what it does, is determined by the enterprise or developers. For example, the automation of complex financial contracts. Bitcoin can let the user through third parties, such as banks, government can directly exchange money. The etheric Fang intervention may have more far-reaching influence, any complex financial operations are automatically executed, and can write code to run in the etheric workshop. In addition to the financial, under any circumstances, as long as the credit, security, and persistent high requirements, such as asset registration, voting, management and networking are likely to be the etheric Fang platform.

Block chain characteristics

Combined with the definition of chain block, block chain mainly has four characteristics: to the center (Decentralized), to trust (Trustless), collective maintenance (Collectivelymaintain) and reliable database (ReliableDatabase). And it will come out of the other 2 is characterized by four features: open source (OpenSource), Anonymous (Anonymity). If a system does not have these features, will not be regarded as the application block chain based on technology.

To the center (Decentralized): the whole network has no center hardware or management institutions, rights and obligations between arbitrary nodes are equal, and the damage of any node or lost will not affect the operation of the whole system. It can also be considered robust block chain system has excellent.

To trust (Trustless): in between each node in the system data exchange is no need to trust each other, the operation of the whole system is open and transparent, all data elements are open to the public, so the system rules specified range and time range, nodes are not deceive other nodes.

Collective maintenance (Collectivelymaintain): the system data blocks by the whole system in all nodes to jointly safeguard the maintenance function, which has the node maintenance function is that anyone can participate.

Reliable database (ReliableDatabase): the whole system will be adopted in the form of database, so that each node can obtain copies in a complete database. Unless more than 51% of the control node at the same time, otherwise the single node changes to the database is invalid, can not affect the data content on other nodes. Therefore, the more nodes and computing ability in system is stronger, the system of data security is high.

Open source (OpenSource): due to the operation of the whole system of rules must be open and transparent, so for the program, the whole system will be open.

Anonymous (Anonymity): because between node and node is no need to trust each other, so between node and node without a public identity, each node in the system of participation are anonymous.

Application deployment type block chain

There are three kinds of application deployment type of the current block chain: one is public chain, such as bitcoin, Wright coins such as currency network, as long as you are willing to participate in the transaction, you can become a member of the network. The two is a private chain, some enterprises, private chain project is mainly used in auditing and tracking. Because the characteristics of block chain irreversible, a business in the block chain can immediately leave traces, therefore does not need a lot of audit data review, and identify the true and false accounts. This is why the big four accounting firms will cause the blockchain attention. Block chain can also solve the problem of data storage company. Whether the data stored in the server could be lost, and the bottom block chain technology has the concept of distributed storage, any data storage can be achieved, many technical barriers to break.

Three is the union of the alliance chain, each chain participants do not have to worry about their own data where the data generated are only to see their own, only to see each other through the key authorization of other participants, so as to solve the data privacy and security issues, at the same time can be achieved to the center.

From public to private chain chain, chain alliance, the three order iterative development, but with the rapid development of the blockchain technology, do not rule out the boundaries of current public and public chain chain will become blurred. Because each node can have permission to write more complex reading, maybe a node part permissions will develop to all people, and some bookkeeping or kernel access to the node to node can only open, it is no longer purely public or publicly owned chain chain.

The future development direction of block chain technology

Transfer and payment: at present, the most mature application block chain technology is the payment and transfer, block chain technology can avoid the complicated system, can save the bank reconciliation and review process, accelerate the speed of clearing funds; at the same time, the use of virtual currency and without clearing the intervention, but also greatly reduce transaction costs.

Pan financial business: the blockchain technique can also be used for asset trading, rapid audit etc.. The user intention, the transaction information is added to the block chain transaction is completed, without the registration and settlement of multi data repeated communication, check and send, improve efficiency; block chain has the characteristics of sharing, credible and traceable, but also provides the convenience for the audit.

Other applications: the blockchain technique can also be combined with the cloud computing and networking application prospect is very wide.

With more and more companies realize broad prospects blockchain technology market, Goldman, IBM, Citigroup and other giants have invested shares blockchain field start-up company, the total amount of field block chain risk investment record highs.

Block chain supervision

When it comes to “block chain supervision”, no one seems to know what are the contents of this. For example, the Russian government announced last week that it will achieve the blockchain regulation before 2019, however, it is difficult to clarify the details. At present, hundreds of pilot project is underway and the proof of concept is only a potential application of this technology of the iceberg.

Secondly, you also need two different methods for the separation of this unusual private network. Although you can develop private blockchain drafting related laws, but given the nature of the international free distributed network access, is clearly not work to carry out supervision according to the use of the public network. Who will supervise? No one knows the founder of bitcoin’s true identity, not to mention he (or she) the specific location of the legal place, under the jurisdiction of law so even impossible to apply to their place of residence.

So, you can now focus on building applications on top of the public block chain. But even so, the scope of supervision and will be limited, because anyone can not determine the jurisdiction in the case of any local release application. In this case, regulators in addition to let the market decide, no choice.

epilogue

Block chain is a revolutionary technology of the Internet, it makes people see global collaborative computing is possible. A huge block of scientific and technological innovation in the chain at the same time, block chain security has increasingly aroused great interest of scientists, a series of problems to be further solved and verified from theory and practice. The current security technology block in the chain, we still need to maintain a cautious attitude, avoid overly optimistic and triggered massive security incidents. Also suggested that countries or institutions to invest a lot of manpower to carry out the research on problem of block chain security, formulate the relevant safety standards and standard block chain with our independent intellectual property rights, enhance the blockchain security monitoring capabilities, to ensure the healthy development of the industry chain block and continuous innovation.

Leave a Reply

Your email address will not be published. Required fields are marked *