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Three major characteristics of the blockchain

Author:Hubi Date:2018-07-25 14:03:13

Compared with the traditional centralized solution, blockchain technology mainly has the following three characteristics:


1.The core idea of ??blockchain is decentralization


In a blockchain system, the rights and obligations of any node are equal, and all nodes have the ability to vote using computing power, thus ensuring that the recognized result is the result of more than half of the nodes recognized.


Even with severe hacker attacks, as long as the number of hacker-controlled nodes does not exceed half of the total number of global nodes, the system will still operate normally and data will not be tampered with.


2. The greatest disruption of the blockchain lies in the establishment of credit


In theory, blockchain technology can make WeChat payment and Alipay no longer have value. The Economist makes an image metaphor for the blockchain: Simply put, it is "a machine for creating trust."


Blockchains allow people to collaborate with one another without mutual trust and without a neutral central agency. Combating counterfeit money and financial fraud will not be needed in the future.


3. Collective maintenance of blockchain can reduce costs


Under the centralized network system, the maintenance and operation of the system depend on the operation and maintenance of the data center and other platforms, and the cost cannot be omitted.


The nodes of the blockchain can be participated by anyone. Each node can verify the correctness of the records recorded by other nodes while participating in the recording. The maintenance efficiency is improved and the cost is reduced.


Summarized in a word, the blockchain touches money, trust and power, which are the fundamental foundations for human survival.