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Fully understand the technical characteristics of blockchain

Blockchain technology is an open, transparent, decentralized database. So what are the features of blockchain?

 

  1. Decentralization

 

The database can be viewed as a large interactive spreadsheet that can be accessed and updated by all participants to verify that the data in it is real and reliable.

 

The verification, bookkeeping, storage, maintenance and transmission of blockchain data are all based on the distributed system structure.

 

  1. Timing data

 

The chain block structure with time stamp is adopted to store the data, thus adding time dimension to the data, thus making the data highly verifiable and traceable.

 

  1. Collective maintenance

 

About block chain data maintenance, block chain system USES specific economic incentive mechanism, ensure that all the nodes in the distributed system are may take part in the validation process of the data block (such as COINS "dig" process), and through the consensus algorithm to select a specific node add new blocks to the chain block, the database is Shared by all the network nodes, and by the database update operators, at the same time also is regulated by all people.

 

  1. Programmable

 

Blockchain technology provides flexible scripting systems that allow users to create advanced smart contracts, currencies, or other decentralized applications, such as ethereum, which provides a Turing complete scripting language for users to build any smart contract or transaction type that can be precisely defined.

 

  1. Safe and reliable

 

Chain blocks of data security of the data on the basis of the principle of asymmetric cryptography, encryption, and at the same time with the help of a distributed system, each node and other work consensus algorithm to form a powerful force to resist external attack, if want to be able to modify the data block chain means that the need to have 51% of the whole node force, to ensure the data do not tamper with the block chain and unforgeable, thus has higher security.