Block chains are records that are permanently and irrevocably modified. Logically, all applications based on block chains can do this, but only Bitcoin can do so. Why Bitcoin can be made permanent, irreversible changes and the whole network is open and transparent. There are four points: 1, because the Bitcoin is based on time Flow records, time (note is currently) can not be reversed, so the bitcoin transaction is irreversible. At the same time, Bitcoin is a double-entry ledger, and the last 10 minutes of the transaction hash is recorded in the next 10-minute block, so any changes to the previous record will result in changes to all subsequent transactions. Second, every transaction is open to the net, everyone can see "a address to B address a 100-bit currency transaction," and to verify that the transaction is not repeated payments, only legitimate transactions can be counted in block, and then all people can be viewed again, so the whole network is open and transparent. 2, to the center of the force, and huge. The earliest Ben Cong dug mine dug for 1 years, after 7 years of global tens of millions of miners to participate in the process of mining, so want to modify the transaction record, only more than the total network of more than 51% of the calculation force can be achieved. And that's almost impossible. 3, the transaction record is stored to the center. A block is generated every 10 minutes, which can be grabbed by people anywhere in the world, so the transaction may be stored around the world, not a central institution, such as Alipay. 4, rule-making goes to the center. Anyone can make changes or changes to the Bitcoin protocol and write the corresponding code, but whether it is adopted depends on the ability to have over 51% of the total network. The above four points to ensure that the Bitcoin permanent, can not be reversed and the entire network open and transparent.
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