Blockchain is a term in the field of information technology, which cleverly combines and integrates professional technical knowledge in many fields such as mathematics, cryptography, the Internet, and computer programming.

Simply put, the blockchain is a distributed shared ledger or database, and the data or information stored in it has the characteristics of decentralization and non-tampering.

These characteristics ensure the "honesty" and "transparency" of the blockchain and lay the foundation for the creation of trust in the blockchain. These features enable the blockchain to solve many information asymmetry problems, allow users to collaborate without the participation of third-party intermediaries, and do not have to trust each other, and achieve collaborative trust and concerted action between multiple subjects to create A reliable cooperation mechanism has broad and rich application prospects.

How does the blockchain work?

The "block" of the blockchain is similar to the hard disk we use to store data. Each block is where the information on the blockchain is stored. Encryption through cryptography technology ensures that the stored information data cannot be tampered with.

The blockchain system checks all the data generated during the period, such as transaction records and records of when the block was edited or created, and stores these data in a new block. This block will be connected with the previous block, and each block must contain the relevant information of the previous block to take effect, thus forming a chain, hence the name "block chain".

The blockchain is essentially a decentralized database. The scenario where the blockchain can really play its strengths is to allow users to collaborate without the involvement of a third-party intermediary and do not have to trust each other. In the blockchain network, no one party can tamper with the data on the blockchain.

To run and independently verify the state of the blockchain, users must download specific wallet software. After the software is launched, it will connect to other computing devices in the blockchain network for the purpose of uploading or downloading information (for example, transactions, blocks). The software will download block data one by one, check its authenticity, and then broadcast the verified information to other computing devices.

As a result, we have a blockchain ecosystem composed of hundreds, even tens of thousands of computing devices. These computing devices are called "nodes", all run the same software, and simultaneously update and broadcast transaction data with each other, realizing the true and decentralized characteristics of blockchain data.