What are the characteristics of blockchain technology (what is blockchain technology)

What are blockchain technology features Blockchain technology is a form of distributed computing that has characteristics such as immutability, transparency, and traceability. Specifically, it is a technical feature of maintaining the uniqueness of data without changing rules, which is very similar to the principle of Cryptography in traditional computer systems; Another special technical feature is the implementation of decentralized peer-to-peer network protocols based on a consensus mechanism that ensures the information security or consistency of both parties to the transaction without human intervention; Another new technological feature is the use of encryption algorithms to ensure information security and achieve trust. What is blockchain technology and how will it affect our lives According to today’s annual insights, the investment strategy of Wealth Code 2021 will continue to be carried out. Editor of this issue | ColinWu Time: Tuesday, June 11, 2019 10:30am Host: What is the origin and development process of blockchain technology? 1. What is Bitcoin Bitcoin was first proposed by Bitcoin supporter Roger Ver, who once said, “I am very interested in this concept,” but later discovered that it has no value support. Because there is no truly decentralized currency to maintain a stable digital system. “If someone wants people to participate in it, they need to establish a Cryptocurrency – that is, blockchain.” Now, because the price of Bitcoin is still falling, its market value has dropped to about $200 billion, which is not comparable to gold at present, but one thing is certain that Bitcoin is a completely decentralized system created and operated based on blockchain networks. Therefore, Bitcoin is considered a great value storage tool. 2、 Why use blockchain technology to protect data privacy In order to ensure the authenticity and validity of information between both parties involved in the transaction; 2) To prevent forgery or tampering with records (such as public keys), making it impossible for users to verify their identity through third-party organizations; 3) Fraudulent behavior occurs when individuals/businesses own a specific type of data, making it difficult for others to identify themselves; 4) Once these data leaks or theft incidents occur, they can track relevant evidence to obtain more royalties. 3） Why should we develop blockchain technology under the existing technological architecture Firstly, let’s take a look at the current development of blockchain. What are the basic characteristics of blockchain The working principle of blockchain is similar to that of Bitcoin, but lacks consensus algorithms. 2. Is the data on the chain consistent What are the structures and characteristics of blockchain distributed ledgers Unlike traditional databases, blockchain is now more suitable as an underlying framework design. The performance issues of blockchain are mainly reflected in its large number of distributed nodes and low efficiency. This means that blockchain applications are more widespread and mature. For example, we install some software on our daily computers, then put it on the server and upload it to the cloud, which can greatly reduce processing costs and avoid a large number of hacker attacks, reducing resource waste

5. At present, many exchanges in the market do not have accounts, so for blockchain, except for some small currencies, almost all Almost all do not need accounting cards.