Easy to understand plain and clear blockchain!

Blockchain can be simply understood as the "trusted machine" of a business community. The word "trust" is the most important value of blockchain technology.

In general, transactions between parties that do not know each other must be done through a credit endorsement by a trusted third party. For example, in payment, whether it be consumption, transfer, withdrawal, bank or third-party payment as a credit intermediary After the transfer of capital can be completed successfully.

The blockchain, by its nature, is a decentralized, open and transparent transaction ledger whose database is shared by all participating network terminals and is overseen by all users, but no one can really own and control this large database.
Blockchain is like an enormous interactive spreadsheet that anyone can access and update, but only digital transactions that are validated and approved by all users will pass. Thus solving the problem of trust between network nodes.

This feature is also seen as "natural fit" with the financial industry. Through the blockchain, both parties can engage in economic activities without the aid of third-party credit intermediaries, thereby reducing the cost of moving assets around the world.

In the world of money, the central bank is its center; in the world of payment and settlement, the bank is the center.

In fact, the trend of development in this world is to be centralized. Although the trend of this trend is slow, we have already decided on the direction of our news sources, listening to radio stations and watching the news network. Now, what is the point?

The rise of Internet technology has led to Weibo. On Weibo, each of us can express our own ideas. Everyone can express his opinion. Everyone is a reporter. Who is the center? Who is the center?

Why go to the center? In addition to cost and efficiency, centers sometimes lose real information and sometimes the information the center sees us is the information they want us to see. The center is sometimes not good.

Blockchain is not a tangible object. Blockchain is a design idea, a collection of technical solutions, and refers to a solution that maintains a reliable database by decentralizing and trusting collectively set.

In more general terms, blockchain is a set of trusted, shared public books. Anyone can supervise it, but no one can control it.

Since there are no middlewares in the blockchain, all information is automatically run on pre-defined rules and procedures that are based on computer-based cryptanalysis rather than on the existence of an intermediary institution The credit endorsements they bring, such credit endorsements only increase the cost of operations.
And, open and transparent, to improve efficiency. Because everyone has the same set of books, so we do not have to worry about a person, personal moral hazard caused by errors. Because this program will automatically isolate and reject these mistakes, but also do not need to re-organize the person to verify the information, which will lead to greatly enhance the operational efficiency of society.

In a traditional centralized network, an effective attack on any one node of the center can lead to the paralysis of the entire system, and the block chain has no center. Each node of the block is only a part of the system, and each node has equal rights. Each node has an identical ledger. Even if you overcome a node, but also can not affect the entire system.

Blockchain design principles there is such a mechanism: the longer the operation, the greater the difficulty of tampering. It can be said that blockchain is taking the time to get people's trust in it.

The most important blockchain is to solve the problem of brokerage credit. In the past, it was difficult for two people who did not know each other and trust to reach a deal, and it had to rely on a third party. Such as payment behavior, in the past any kind of transfer, you must have a bank or Alipay such agencies exist. But through the blockchain technology, bitcoin is the first time for human beings to complete the mutual trustworthy transfer without mutual intermediation. This is a major breakthrough in the blockchain.