What exactly is blockchain? Which blockchains have physical applications

What is blockchain?

Official definition: blockchain is a new application model of computer technology such as distributed data storage, peer-to-peer transmission *** knowledge mechanism encryption algorithm. The so-called *** knowledge mechanism is a mathematical algorithm in the blockchain system that realizes the establishment of trust between different nodes and the acquisition of rights and interests.

The vernacular understanding: the block is in accordance with the chronological order of all the data generated within the time period packaged, generally the length of a block for 10 minutes, that is to say, within 10 minutes of all the Internet data on the network is typed into a complete packet, this complete packet of data is called a block, blockchain is the sequence of these packets of data is linked in order, to form a structure, and to cryptography to ensure that it cannot be tampered with or forged to form a distributed ledger, which is the blockchain.

Said like this as if we have a preliminary knowledge and understanding of the blockchain, then the blockchain in daily life in the end there is no practical application, the answer is yes, the current practical application of the following aspects, of course, there may be I don't know, welcome friends to leave a message to add.

Financial industry

The application of blockchain in the financial industry should be the most.

For example, in May 2017, omise announced that it had partnered with Alipay to launch an e-wallet that integrates the Alipay payment solution into its own suite of payment services to help local e-commerce merchants in Thailand accept online payment transactions from Chinese tourists.

Then there's PPT, which is a blockchain-based financial transaction system for bills.

Betting

The betting industry probably entered the blockchain last year, why betting will favor the blockchain, because the blockchain provides a relatively fair guessing system, why is it relatively fair, as you can see from the previous introduction, the blockchain is not tamperable and not forged.

For example, WICC (WikiChain) it is possible to realize asset issuance, quiz application, copyright traceability, mutual insurance, decentralized exchange, cross-border settlement and other rich application scenarios.

For example, STX (King of Fighters Coin) stox application is designed to provide the full functionality of a prediction market application without the need for any centralized server. Prediction markets require features such as event planning, market production, providing information and analysis to traders, reporting on event results, and of course collection and payment.

I believe that if the current lottery industry was set up on the blockchain, people would be more enthusiastic about buying because too many insiders are making people give that up.

Internet of Things

There are still a lot of applications for IoT on blockchain because the traceability and immediacy of blocks are very adaptable to this industry.

For example, DATA is the IoT concept, which is is a decentralized p2p network. A data source can connect to any node throughout the network and then publish the data, which the network will immediately send to subscribers. Horizontal scalability is achieved through the sharding model. This is important for timeliness and accuracy on IoT applications.

Game Industry

For example, GTC (G Coin) is a decentralized digital asset based on ethereum erc20 issued by game globally. gcoin is committed to becoming the universal digital currency standard for the global gaming industry.

For example, MANA it is a distributed ****enjoyment virtual platform. On this platform, users can browse and discover content and interact with other people and entities. Users can also claim ownership of virtual territories through a blockchain-based land ledger. The territory is delineated by right-angled coordinates (x,y), and its owner can decide what content is published on the territory, including interactive systems ranging from static 3d scenes to games.

There are many other industries, Dada will not list them all, listed a few representative, in order to illustrate what? Explain that the blockchain is definitely not just a transaction of coins, it is a product of the era of change that has a real grounding project and a real practical use.

The development of human society is actually like the blockchain, is irreversible and unstoppable, as far as my feeling, the blockchain sooner or later into the tens of thousands of households, regardless of the bulls and bears, hold the hand of the value of the coin, the flush has begun to offer the digital currency, which means that the community is accepting it step by step, and the power of the development of the community is not a country or a person can be blocked.