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What is the use of blockchain? In the past, network effects created a winner-take-all environment, with the leading network system often rising to dominate the world. After the birth of blockchain, this situation has undergone earth-shaking changes. So what is the use of blockchain? Today I will introduce it to you.

Blockchain is a new type of decentralized protocol that can safely store Bitcoin transactions or other data. Information cannot be forged or tampered with. It can automatically execute smart contracts without the need for review by any centralized organization. Transactions can be digital currencies such as Bitcoin, or digital assets such as debt, equity, and copyright. Blockchain technology solves the Byzantine Generals Problem, greatly reduces the trust cost and accounting cost of the real economy, and redefines the Internet era. property rights system.

Blockchain is a distributed database system [1] that is participated by nodes. Its characteristics are that it cannot be changed or forged. It can also be understood as an account book system (ledger). It is an important concept of Bitcoin, a copy of the complete Bitcoin blockchain, recording every transaction of its token. Through this information, we can find the value of each address at any point in history.

The core advantages of the blockchain architecture include: any node can create a transaction, and after a period of confirmation, it can be reasonably confirmed whether the transaction is valid. The blockchain can effectively prevent the occurrence of double-spending problems.

The cost of trying to rewrite or modify transaction records is very high.

Blockchain implements two types of records: transactions and blocks. Transactions are the actual data stored on the blockchain, while blocks are records confirming when and in what order certain transactions became part of the blockchain database. Transactions are created by participants using the system in the normal course (in the case of cryptocurrencies, a transaction is created by Bob sending tokens to Alice), while blocks are created by what we call Miners' units are responsible for creation.

What is the use of blockchain? In fact, I can give you a summary of some of the characteristics of blockchain, which are decentralized, safe, and open. Sometimes I feel that these advantages cannot be used in the same transaction. appeared, but now the blockchain can include all these advantages. Don’t you think it’s awesome? So these are the reasons why the blockchain has become a hot topic!

What is distributed storage under blockchain technology? Learn about

What is distributed storage under blockchain technology? The content that the editor is going to describe to you today is related to the distributed storage content of the blockchain. If you also want to learn about this knowledge, you might as well follow the editor and me to discuss and learn together. !I hope the knowledge points below can help you solve your confusion!

Blockchain technology is the basic technology of encrypted digital currencies, but its uses are not limited to this. For example, it includes distributed storage, which can not only store cryptocurrency transaction records, but also store other types of data. It is used in many industries. All can be applied.

Decentralized distributed storage of data can be said to be one of the characteristics of the blockchain. It can realize distributed data storage on all nodes and save it completely; the decentralized characteristics of the blockchain also make employee wages , data center rent and other storage costs have been reduced, which strongly illustrates the advantages of decentralized distributed data storage, and its application in the blockchain field is very wide.

In the field of blockchain, distributed storage can be applied in many scenarios. For example, Walmart has already filed two patent applications for using blockchain platforms to store payment data, involving a supplier payment sharing system, and creating a network that can specify transactions on behalf of customers, store payment data for suppliers, and also ensure payment. Data Security.

In addition, the United Nations World Food Program is also using blockchain technology to carry out a humanitarian project and ensure the security of the private data of Syrian refugees. Refugees receive part of the assistance provided by the World Food Program by obtaining daily food from retailers. The relevant data they leave behind when obtaining food is therefore securely stored on the blockchain.

However, distributed storage based on blockchain is not perfect. Perhaps when it develops to a certain extent, problems may arise. Recently, Li Maocai, general manager of Tencent’s blockchain technology, said that real killer applications will face massive storage problems. Solving this problem may take time, but it is not insurmountable.

Li Maocai believes that cloud computing, big data, AI, including many technologies in the future, should try to do something new. The technologies themselves are created to solve real-life problems, and their progress is closely related to people's lives. Moreover, only the combination of these technologies can create more value in the future, expand the imagination space of blockchain technology, and achieve qualitative improvement.

It is reported that Tencent’s current application practice in blockchain technology already includes mass storage solutions. This solution is mainly divided into user data storage solution and Kuailian file storage solution. However, as Li Maocai said, technology itself serves to solve real-life problems. If blockchain technology is combined with cloud computing, big data analysis, AI and other technologies, it may have greater development potential and application space in the future, bringing about changes and development, rather than just being limited to data storage.

What is distributed storage under blockchain technology? The above is the relevant introduction to this issue. After reading the above relevant knowledge points, can you clearly understand the distributed storage function of the blockchain?