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

What are the characteristics of blockchain? Blockchain has four basic technologies Firstly, decentralization and distributed storage; Secondly, the operation process of smart contracts; Thirdly, consensus mechanisms, sharding, and other technologies have scalability and performance advantages; Fourthly, digital signature systems based on blockchain technology can improve data security; Fifth, the data structure of transactions is different from traditional database architectures, and the ledger can be customized and updated according to different application scenarios, making it more secure and reliable

At present, most applications use private keys for encryption and storage, but users cannot complete authorization on the chain due to problems involving Cryptography. Therefore, by uploading these information to the Ethereum network to solve this problem, a blockchain network will be formed, which can realize multi-party accounting and query records. This approach makes blockchain a fundamental technological solution for the Internet, rather than a simple process of forwarding or sending to others, greatly improving business processing efficiency

What are the characteristics of blockchain

From the essence of blockchain, blockchain has the characteristics of decentralization, transparency, and immutability At present, distributed ledger technology is mainly applied in the financial field in the market. It has the characteristics of traceability and Data integrity, and has also been well used in payment and settlement. What are the advantages of blockchain? Let’s take a look together with Planet Jun (WeChat: o-daily) and everyone!