What is the cross chain technology of blockchain?

Blockchain is a kind of distributed ledger technology, and each blockchain is equivalent to an independent ledger, and it is usually impossible to transfer value between different ledgers. With the development of technology and the market, there are more and more types of cryptocurrencies, and at the same time, a large number of different blockchains have emerged. The collaboration between different chains has become a new demand for users from operation and value circulation, so the "cross-chain technology" of blockchain came into being.

The so-called "cross-chain" means that assets originally stored on a specific blockchain can be converted into assets on another chain, so as to realize the circulation of value. It can also be understood as an exchange between different asset holders, a process that does not actually change the total value on each blockchain. Just like the currency trading provided by the trading platform, different types of digital currencies can be exchanged between each other, but this behavior of the trading platform does not occur on the blockchain.

From a technical point of view, blockchain belongs to a distributed ledger, and from a commercial point of view, it essentially belongs to a value network, and the isolation between different blockchains not only leads to the inability of digital assets to circulate between blockchains, but also limits its value to a narrow range, limiting its own development space to a certain extent.

As a result, more and more people are starting to pay attention to cross-chain technology. In September 2017, Litecoin founder Li Qiwei tweeted that Litecoin and Bitcoin have achieved atomic-level cross-chain exchange; In November, Lightning Labs completed the first Lightning Network cross-chain transaction from Bitcoin to Litecoin.

OK Blockchain 60 Lectures is a blockchain science popularization animation jointly produced by OKEx Sina Technology, which vividly popularizes the concept of blockchain from the perspectives of concept, technology, and application for zero-based blockchain users. The course content of this episode is guided by Tutor Cao Yin, Managing Director of the Digital Renaissance Association.

Among the many problems faced by blockchain, the interoperability between blockchains greatly limits the application space of blockchain. Whether for public or private chains, cross-chain technology is the key to realizing the Internet of value, it is a good medicine to save the blockchain from scattered islands, and it is a bridge for the blockchain to expand and connect outwardCurrency exchange digital currency trading platform).

In layman's terms: if we assume the database as a ledger, reading and writing the database can be regarded as a kind of bookkeeping behavior, the principle of blockchain technology is to find out the fastest and best person in the bookkeeping within a period of time, and this person will keep the account, and then send this page of the ledger information to everyone else in the entire system. This is equivalent to changing all the records in the database and sending them to every other node in the whole network, so blockchain technology is also known as the distributed parallel game ledger (currency exchange digital currency trading platform).

Blockchain features:

1. Decentralization. Blockchain technology does not rely on additional third-party management institutions or hardware facilities, there is no central control, except for the self-contained blockchain itself, through distributed accounting and storage, each node realizes information self-verification, transmission and management. Decentralization is the most prominent and essential feature of blockchain.

2. Openness. The blockchain technology foundation is open source, in addition to the private information of the parties to the transaction is encrypted, the data of the blockchain is open to everyone, and anyone can query the blockchain data and develop related applications through the open interface, so the information of the entire system is highly transparent.

3. Independence。Based on consensual specifications and protocols (similar to various mathematical algorithms such as the hash algorithm used by Bitcoin), the entire blockchain system does not rely on other third parties, and all nodes can automatically and securely verify and exchange data within the system without any human intervention.

4. Security。As long as you can't control 51% of all data nodes, you can't arbitrarily manipulate and modify the network data, which makes the blockchain itself relatively secure and avoids subjective and artificial data changes.

5. Anonymity。Unless required by law, technically speaking, the identity information of each block node does not need to be disclosed or verified, and the information can be transmitted anonymously.

1. Blockchain technology.

In a narrow sense, blockchain is a chain data structure that combines data blocks in a chronological order in a sequential manner, and is cryptographically guaranteed to be tamper-proof and unforgeable distributed ledger.

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

2. The meaning of blockchain.

Blockchain is a new application mode of computer technology such as distributed data storage, point-to-point transmission, consensus mechanism, and encryption algorithm.

In fact, blockchain is a financial solution! It includes: currency, technology, finance, and other three functions.

Libra wants to become a currency for payment, but the central banks of various countries do not allow it, because it will affect the financial order of various countries, and the currency function is used here; CCB and Ant Gold have used blockchain technology for data storage and transfer. Blockchain financial technology, because the use of blockchain financial solutions, can achieve the same purpose and results as listing, and can achieve a small investment of a significant doubling, so it has attracted the attention of all parties, and it is also the best opportunity for most people to achieve wealth and life curve overtaking. In the future, whether your wealth will double and whether your life will be reversed depends on how you judge and choose blockchain projects.

So, what kind of project is a blockchain project? What are the criteria for investing in blockchain projects?

First, the project must have a physical business.

Second, the project must be self-contained.

It's not easy to understand. To put it simply, the project should consist of two parts, one part is the physical business part and the other part is the virtual currency part. The main role of the physical business part (not virtual currency) is to allow the project to generate a large amount of income and promote the development of the project; The role of the virtual currency part of the inspiration is to make the whole project develop faster.

In two aspects, a double value-added system has been formed. Twice the momentum for project development.

At the same time, the economic entity + virtual currency with business, the two aspects grow and develop at the same time, and a double helix alternating growth model will be formed, so that the project will achieve the scale of one billion billions at a very fast speed, just like the first listing.

Third, there must be an investment guarantee mechanism.

The investment guarantee mechanism is easy to understand, but it is difficult to implement. The investment guarantee mechanism includes: the legal guarantee mechanism and the return guarantee mechanism.

Of course, the legal safeguard mechanism refers to legal compliance, preferably in the form of a contract agreement, which is to cut off the back road of running away, so that some people with ill intentions have no chance to take advantage of it.

The guarantee of returns is direct cash dividends. This is also an extremely important point in the investment criteria. Users must be given cash dividends, and the coins and shares are fake, and it is better to get the cash in your hands.

Most people are small and medium-sized investors, and they don't have so much money to lose, unlike large investors, who forget about losses. If small and medium-sized investors lose money in their investment, it is a fatal thing, and even the family has no way to live. Therefore, the distribution of cash seems demanding, which is actually a kind of protection for investors.

If you want to live a few more days, you have to ask for it.

Some dividend plates split the disk and give you some coins, is it useful for you to hold it? It can't be sold at all, that's still zero. It's different if you give cash, give cash, you can use it as soon as you get it, hard currency.

At the same time, the cash distribution can also show the determination of the project party and whether it really does things, an investment corresponds to a dividend, if it is not a real project, can there be cash to share? Just divide it to death! Therefore, the practice of cash distribution is also an investment standard for many current projects.