The 6 Ultimate Step To Know About Blockchain
What happens in blockchain, stays in blockchain.
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Blockchain is a distributed database that is shared among the nodes of a computer network. As a database, a blockchain stores information electronically in digital format. Blockchains are best known for their crucial role in cryptocurrency systems, such as Bitcoin, for maintaining a secure and decentralized record of transactions.
Blockchain can solve the problem of data credibility. As a distributed ledger, it can only be added, cannot be deleted, cannot be tampered with, and cannot be rolled back, which can ensure the credibility of the original data on the chain.
The chain structure of the blockchain has the characteristics of certifiable, traceable, auditable, and sequenceable, which can well confirm data property rights.
Cryptographic algorithms such as hash function, asymmetric encryption, and zero-knowledge proof can protect data from being peeped, stolen, and abused, and play a good role in privacy protection.
Data transactions and data privacy protection is not the ultimate goal. Data needs to be shared and exchanged to present value. At this time, the combination of verifiable computing technology, homomorphic encryption technology, secure multi-party computing technology and other cryptographic technologies can solve the problem of collaborative computing after data encryption.
Value exchange whether data is exchanged and shared, the core lies in value exchange. Smart contracts on the blockchain can provide a powerful value exchange tool for the distributed, point-to-point data element market.
Value# distribution in a distributed, peer-to-peer data element market, how can all parties trust the commitments of all stakeholders without a centralized guarantor without increasing the cost of establishing such a trust relationship? At this time, programmable digital currency can play a role. Programmable digital currency plus smart contracts make transactions that cannot be manipulated. Once the pre-agreed conditions are triggered, no one can go back.
I Hope you loved this information about Blockchain, because Blockchain is the most promising technology since the internet.