Some thoughts on the block chain

Some thoughts on the block chain
    increasingly feel that the main role of block chain is to improve efficiency, reduce costs, rather than subversion, the main purpose of block chain is to realize the intelligent contract and consensus mechanism, its technical basis is the consensus algorithm and the data storage with encryption characteristics, So in the current online listing of the all-encompassing block chain application, it is also because of its ability to reach consensus and encrypted storage through technical means, and the consensus and encrypted storage are all walks of life involved, is an infrastructure, so this attracts almost all sectors of interest in the block chain, they are concerned about the block chain in the end how powerful , you can destroy everything, so the uninformed people feel panic, such as the legal profession, the securities industry, and so on, fear of subversion. But the Internet companies do not sit, aloof, on the one hand they may feel that the block chain may be subversive is the traditional industry, its so-called smart contract and consensus mechanism in the Internet industry is not a threat, of course, this is still not see whether there is impact, in addition to block chain is not a new business model is not a new technology, its subversion is not known also, first look at it, moreover, the highly centralized internet companies and the highly centralized block chain, the two may not be amorites. The intelligent contract and consensus mechanism of the     block chain is to decide whether the data or whether the contract is valid or not should be saved by the participant vote. In the system of Bitcoin, it is necessary to grab the right to account by digging a mine. To get part of the Bitcoin as a reward, in such a world, who can dig to the mine, if there is a strong presence, the other participants either fled, or drift, how it is like a game, or this is a game.     but the block chain thought behind the bitcoin has aroused people's attention, that is the consensus mechanism, the number of votes over 50% or more than 2/3 will be able to obtain the right to account, through technical means to solve the problem of consensus, in the real world has a wide range of applications, as long as the contract can be , as the block chain pioneered the use of the American financial community, its concept became hotter and developed into a future weapon capable of destroying everything.     But rational people are not extinct, through the analysis of nearly 50 of applications listed on the Internet, in these specific industries, the use of block chain, if you have to vote more than 50% or 2/3 to record or save data, I think most of the industry is not applicable, In particular, some professional professions such as law, commerce, securities and so on, because of the interests, may require 100% of the consent, and the need to vote to decide things, in fact, not much. I think that the purpose of the block chain is to realize the electronic management of the contract.     so the most extensive application of block chain should be industry application, the main aim is to improve efficiency and reduce cost. Should be abandoned according toThe ability to preempt the right to account, but in accordance with the voting rate of participants to determine whether the accounting, consensus mechanism can be used in public welfare projects or volunteer projects such as the need for extensive participation in the scene. For this reason, consider as follows: 1, in a block chain system, actually save is not a chain, but in accordance with the activities of the parties generated a series of contracts to form a chain, such as the parties to the contract different, you need to form a new chain, or. 2, each node has an equal right to vote 3, the vote through the rate according to different contract may be different, this can be used as a contract property by the user settings, such as only voting to reach 100% can be accounted for, or give up.
4, a complete block chain system needs to achieve the main functions include: 1 communication between nodes and data synchronization 2 each node can vote, voting to achieve a set percentage, the system automatically save data, stamped with time stamp 3 data encryption, secure data security 4 data storage
The positioning of the block chain is too high or too low, will affect the block chain in the reality of the landing, in a specific scene using block chain, according to the scene to determine the technical requirements of the block chain, perhaps a wise choice.
Wang Baoxing