Based on which technology is this feature of cryptocurrency realized?

Definition, characteristics and application of encrypted digital currency "

(1) definition. Encrypted digital currency is a digital asset generated based on blockchain technology. In some cases, it can be expressed as a numerical value of money substitutes. At present, all kinds of "encrypted digital currency" in the world have originated from the application of blockchain technology in different scenarios. The initial public offering of ICO is a common way to raise funds for blockchain technology projects. Early ICO participants can convert bitcoin, Ethereum and other numbers into the original cryptocurrency digital currency, namely tokens, which can be used in the blockchain of the project or traded in the secondary market. ICO is the inevitable trend of digital currency's finance under the high-tech development, and it is also a new format of "illegal fund raising" and "online fraud" under the guise of high technology.

(2) characteristics. "Encrypted digital currency" is decentralized and cannot be tampered with by means of blockchain technology, which has the technical advantage of solving the trust problem. Blockchain contains all personal historical transaction records, and these transaction processes and transaction data are made public on the Internet. The system keeps the same number of records as the real records, and the data is not easy to be tampered with, which ensures the truthfulness, reliability, openness and transparency of the data, and endorses and trusts the two parties who do not know each other. Blockchain technology generates a set of credible databases with time series records and cannot be tampered with. Even without a neutral third party organization, all nodes can cooperate.

(3) application. The application of "Encrypted digital currency" is gradually pushed away. Take bitcoin as an example. At the beginning of 2009, Bitcoin (BTC) was officially launched as a completely decentralized and distributed currency, which was a landmark event in the innovative application of blockchain technology in the transaction payment field. Traditional peer-to-peer payment must go through a legal payment system to ensure that the same fund will not be paid repeatedly or tampered with. The holder of bitcoin sends bitcoin to others without a central medium. The transaction will be recorded in the blockchain and distributed to all other bitcoin holders in the world. This * * * database records the historical transaction records and holders of all existing bitcoins, and the data will be updated 6 times every hour. Before a new transaction is reached, it needs to be mathematically verified by a large number of other bitcoin holders. Therefore, Bitcoin is based on mathematical credit and does not need the credit endorsement of an authoritative third party like traditional finance.