Blockchain-related concepts explained

This is a creation in Article, where the information may have evolved or changed.

Recently in the study of blockchain, because I did not understand the concept of this aspect, in the learning process caused a lot of trouble, from time to time out of the new term I do not know the so-called, so here will be some of the relevant concepts to do a simple collation, hoping to help the study of blockchain technology friends. Follow-up will also share the results of learning, the blockchain is interested in friends can add me to communicate.

1. Bitcoin

Said blockchain will have to mention Bitcoin, October 31, 08, Nakamoto proposed Bitcoin design white paper

October 31, 2008 Nakamoto put forward the Bitcoin design white paper, Bitcoin for the first time in real sense to achieve a sufficiently secure and reliable de-centralized digital currency mechanism, bitcoin as a digital currency mainly solves the existing financial monetary system of several problems:

• Be mastered in the hands of the hair agency;
• The value of itself cannot be guaranteed;
• Transactions cannot be anonymized.

The biggest difference between Bitcoin and the existing financial currency is that it does not rely on a particular currency issuer (i.e. it does not need a central system like the central bank to issue money, so he is centralised), which is generated by a number of calculations based on a particular algorithm, and that the total number of Bitcoins is limited.

2. Blockchain

Satoshi in bitcoin: a point-to-point electronic cash system describes a history of the accounts used to record Bitcoin transactions, and later, with the development of Bitcoin, the researchers found that this thought is also available in other areas of the area, only a clear concept of blockchain, but the blockchain technology itself is still evolving, There is no uniform norm or standard at the moment.

Blockchain is a self-signed and tamper-proof distributed recording system, and Bitcoin is only one application of blockchain technology in the financial field, and his ideas can be used in the field of distributed computing.

3. Aether Square

Ethereum is an open source project that aims to build a decentralized platform for running smart contracts, a platform and a programming language built on blockchain technology that enables developers to build and publish distributed applications. The application of the platform is programmed to run, and there is no possibility of downtime, censorship, fraud, or third-party intervention. The Ethereum platform is implemented in multiple programming languages such as golang,c++ and Python. To build this platform, Ethereum provides an open blockchain, a set of programming languages for smart contracts, and simplified VM EVM for smart contract execution.

4. Smart Contracts

The smart contract works like a if-then statement in a computer program, and when a pre-programmed condition is triggered, the smart contract executes the corresponding contract terms. , the smart contract language developed by the Ethereum project is solidity. Developers of smart contracts can use official tools to develop applications that support the Ethereum blockchain protocol (ie, dapp).

The value of blockchain technology

Blockchain is generally considered to have:

• Distributed fault tolerance: network and its robustness, fault tolerance of about 1/3 node anomaly.
• Non-tamper: data is always present and cannot be destroyed after a consistent commit.
• Privacy Protection: Cryptography guarantees data that is accessible to unauthorized persons, but cannot be resolved.

Application Scenarios for Blockchain

Blockchain, without introducing a third-party intermediary, can provide the guarantee of being centralized, non-tamper-proof, safe and reliable. Therefore, activities that rely on third-party secured trust institutions can benefit from blockchain technology.
Key application scenarios include financial services, credit and ownership management, resource sharing, investment management, and the Internet of things and supply chains.