What is the core technical theory of blockchain?

It cannot be tampered with and is open and transparent.

Blockchain mainly solves the trust and security problems of transactions, so blockchain has four core technologies:

The first is called distributed ledger, which means that transaction accounting is done by multiple nodes distributed in different places, and each node records a complete account, so they can all participate in monitoring the legitimacy of the transaction and can also jointly testify to it.

Different from the traditional centralized bookkeeping solution, no node can record accounts separately, thus avoiding the possibility of a single bookkeeper being controlled or bribed to keep false accounts. On the other hand, because there are enough accounting nodes, theoretically speaking, unless all nodes are destroyed, the accounts will not be lost, thus ensuring the security of the account data.

The second is called asymmetric encryption and authorization technology, the transaction information stored on the blockchain is public, but the account identity information is highly encrypted and can only be accessed with the authorization of the data owner, thus ensuring the security of the data and the privacy of the individual. (The best digital currency trading platform is in "Currency Exchange").

The third is called the consensus mechanism, which is how to reach a consensus among all accounting nodes to determine the validity of a record, which is not only a means of identification, but also a means of preventing tampering. Blockchain proposes four different consensus mechanisms for different application scenarios, striking a balance between efficiency and security.

Bitcoin, for example, uses proof-of-work, and it is only possible to forge a non-existent record if it controls more than 51% of the network's accounting nodes. When there are enough nodes joining the blockchain, this is basically impossible, thus eliminating the possibility of fraud.

The last technical feature is called smart contracts, which are based on this trusted, immutable data and can automatically enforce some pre-defined rules and terms. Taking insurance as an example, if everyone's information (including medical information and risk information) is true and credible, it is easy to automate claims in some standardized insurance products.

First of all, we can take a look at the official website explanation of blockchain technology. In a narrow sense, blockchain is a chain data structure that combines data blocks in a chronological order and is cryptographically guaranteed to be tamper-proof and unforgeable.

Broadly speaking, blockchain technology is a new distributed infrastructure and computing paradigm that uses a block-chain data structure to verify and store data, uses a distributed node consensus algorithm to generate and update data, uses cryptography to ensure the security of data transmission and access, and uses smart contracts composed of automated scripts to program and manipulate data.

What everyone may know is that blockchain technology is an independent underlying architecture of the Bitcoin system, and in terms of architectural model, it is a set of distributed ledgers, and the so-called ledgers are naturally used for bookkeeping.

In blockchain technology, in order to generate accounting records, there must be transactions and flows of funds, so at the beginning of blockchain technology, there are cryptocurrencies corresponding to their mainnet as circulating items, and the circulation transaction records of cryptocurrencies between various accounts on the blockchain mainnet will be recorded on the mainnet.

Different from other transaction record databases, the transaction records on the mainnet of blockchain technology will be recorded on all block nodes (i.e., all data blocks) in the mainnet, which is also the so-called decentralization principle, that is to say, in blockchain technology, there is no central database to keep all records, and each block on the chain has the transaction data of the whole chain, that is, every data block is the center.

Another characteristic of blockchain technology is that it cannot be tampered with, because every transaction on the blockchain will be recorded in all blocks on the chain, so no single data block can change the record, even if you change it, all other data blocks will record real data, and each set of data can be traced back to the first time it appeared.

It is precisely because of these characteristics of blockchain technology that after the advent of Bitcoin, the blockchain has also attracted a lot of attention, and many people have begun to want to use blockchain technology to make a non-centered, traceable, and unchanged data to ensure the credibility of the data.

However, blockchain technology also faces many problems, such as the application scenario list.

1. The original erroneous data cannot be modified, and the currency stolen by hackers cannot be recovered.

The core technology of Chongqing Jinwowo analysis blockchain is as follows:

1-Block, chain.

2- Distributed structure – an open-source, decentralized protocol.

3- Asymmetric encryption algorithm.

4- Scripts.

Chongqing Jinwowo Network Analysis Blockchain's Core Technologies:

Establishing an appropriate consensus mechanism and a good governance mechanism is the core of the blockchain.

The establishment of a new consensus mechanism is currently more difficult both philosophically and technically, and the more mature consensus mechanism is POW

It is a consensus mechanism based on proof-of-work.

1. The core technology of the blockchain, whether it is a public chain or a consortium chain, requires at least four modules: P2P network protocol, distributed consensus algorithm (consensus mechanism), cryptographic signature algorithm, account and storage model.

2. Therefore, the core of blockchain technology is a consensus mechanism that reaches consensus on the legitimacy of transactions between individuals who have no trust basis for each other in the absence of central control. At present, there are four main types of consensus mechanisms of blockchain: POW, POS, DPOS, and distributed consensus algorithms.

3. Chongqing Jinwowo analysis: The blockchain technology of the district Sui Hall is composed of three core technologies: consensus mechanism, co-defense mechanism and distributed storage. The three core technologies are supported by machine trust, that is, through the support of network technology Vortter, the transaction of transaction activities is point-to-point, decentralized, the record information cannot be tampered with, the transaction is irreversible, and the information guess encryption and other problems are broken.

4. From a technical point of view, from an architectural point of view, I will tell you some of my understanding of blockchain in plain language.