What is Blockchain Technology? Easy to understand explanation
Blockchain is one of the core technologies of Bitcoin.
The original intention of Bitcoin was to break the traditional bank-centered monetary system and create a new "decentralized" monetary system.
What is Blockchain Technology? Popular version of the interpretation!
How does that bank work?
For example, if A pays 100 RMB to B, the bank is on the account of A with the standard of "Paying 100 RMB to B and leaving a balance of 1900 RMB". On B's account, mark one: "100 RMB received from A , The balance increased to 600 yuan "on it.
Simply put, the process of currency trading, is a bookkeeping process.
The reason why he passed the bank was because he was authoritative, credible, and would not pass the cheat and arbitrarily sign whom: "We received 1 billion Ma and the balance increased to 100 million 3 gross."
What is Blockchain Technology? Popular version of the interpretation!
However, the bank's accounting can not make mistakes, but also with some external force. For example, you pay through Internet banking, banks how to make sure you pay it? Or with the help of passwords, codes and other computers, the Internet technology.
If so, why not step in place, simply using more powerful computer, Internet technology, in one fell swoop take the bank instead?
Yes, Satoshi Nakamoto thought so!
Nakamoto came to the "wolves tactics" trying to set the power of thousands of computers on the global Internet, and fight with banks with specialized manpower and material resources configuration.
What is Blockchain Technology? Popular version of the interpretation!
Wolves together, how to harmonize, has become the biggest problem. Set up a special body, unified management? That would violate the original intention of "de-centralization", which is equivalent to taking the old path of the bank.
So, ★ "blockchain" ★ technology, it came into being:
After receiving a request from A to send "pay 100 bucks to B", he needs to confirm two questions before deciding whether to execute the request or not, to help me remember this account.
① This request is really sent out by A. This simple, computer field already has a technique called "digital signatures," so long as A can provide a "private key" that only he himself knows, the computer can determine that the request is indeed from A's.
What is Blockchain Technology? Popular version of the interpretation!
② A request, with the current billing system on all existing information, whether contradictory. For example, the system shows A balance of only 99, A has requested payment of 100, which certainly not.
Problem ② how to solve, a little more troublesome. Because every computer is a part of the whole system, once a conflict arises, everyone thinks that he is one of "all the existing information on the entire accounting system." He asks others "to not contradict with me!" quasi?
For example, A in the balance of 100 dollars, the request to pay 100 dollars, what to buy something. Then he asked for another 100 dollars and bought something else. Because of network delays and the like, it is hard for computers to determine which of these two requests preceded them. But anyway, the last one is definitely invalid. Since the front has been paid 100, the balance has been spent, which can also be executed in the "pay 100" request?
What is Blockchain Technology? Popular version of the interpretation!
"Blockchain" technology how to solve this problem? Simple and crude: make the final decision -
Record both requests first, but do not be busy confirming them.
System out of some public funds, hiring a, B and two to bet - each of those two contradictory bets request. Then let the two use their own computer's power, competition to do the title. Who calculate the computer skills, and good luck (problem solving success has a certain degree of randomness), first problem-solving out, the public money to him. At the same time, his betting request was also "confirmed" by the system, and the other request was "obsoleted" accordingly. This is the so-called "mining."
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If A, B both fairly, regardless of how to do? Then hire C, Ding two, then than. C followed by A, followed by B followed by B. If C wins, C and C in front of him, they both win. That final "confirmation", that is, the original bet that request. If Ding wins, Ding and B in front of him, they both win. That final "confirmation" is the original bet on that request.
If C, Ding hit it again? Then hire again and again, repeat the above process. Impossible, always hit it.
Just cited is a simplified example, in reality, those accounting requests, often a few and in one, together. Therefore, you can put these and a piece of accounting information, called a "block." The new request accounting information, always can not violate the pre-existing bookkeeping information, only through the miners' "to do the title competition" bet "confirmation" after, with the existing information behind.
As a result, many of the information "blocks" are linked together in the order of "confirmed", not "block-chain."
What is Blockchain Technology? Popular version of the interpretation!
Essentially, the "blockchain" is: a way to keep the entire system in astonishing "through a well-designed computer Internet collaboration mechanism that ensures that new registration information does not conflict with the large, Overall consistency ", an information technology.
"Computer group wolf" in the bitcoin world must be kept in line with the chain of "blockchain," and they are bound together.
What is Blockchain Technology? Popular version of the interpretation!