The popular explanation of blockchain technology is essentially a distributed ledger.

What is blockchain technology? Briefly explain what a blockchain is. At the beginning of 20 19, a new currency began to enter the ranks of digital currency and gradually attracted the attention of many digital currency players, that is, blockchain technology. But some people find that there is really little information about it online, which not only makes many people wonder, what is this and why is it so mysterious? Blockchain is the earliest basic technology of Bitcoin, which is currently being studied all over the world and can be widely used in various fields such as finance.

Basic principle editing

The basic principle of blockchain is not difficult to understand. Basic concepts include:

Transaction: an operation to change the status of an account book, such as adding a record;

Block: records the transactions and status results that occurred in a period of time, which is a * * * understanding of the current account book status;

Chain: It is composed of blocks connected in series in order of occurrence, and it is a log record of the whole state change.

If the blockchain is regarded as a state machine, every transaction is an attempt to change the state, and every block produced by consensus is a participant.

Refined editing

Popular explanation: if we assume that the database is an account book, then reading and writing the database can be regarded as an act of bookkeeping. The principle of blockchain technology is to find out the fastest and best bookkeeper in a period of time, who will keep accounts, and then send this page of information on the ledger to everyone else in the whole system. This is equivalent to changing all the records in the database and sending them to every other node in the whole network, so blockchain technology is also called distributed ledger.