Block chain history and development
Block chain technology is a consensus network built on the P2P model. Through a unique technical structure, it realizes the automatic full network notarization of the data and the consistency of the node data. Combined with cryptography, data ownership and data ownership transfer are realized, thus opening up the future mode of Internet, that is, value network.
The block chain technology is the most potential value network technology at present. The combination of economic model and technology can change the future productivity relationship and promote the development of new distribution pattern.
Creation block

In October 2008, Nakamoto made a groundbreaking essay entitled Bitcoin: A Peer-to-Peer Electronic Cash System for Blockchain Technology.In early 2009, the Creation Block was excavated and bitcoin was born

Block chain 1.0

The related applications starting from digital currency mainly include the virtual currency represented by bitcoin, which is the most successful application of block chain technology at present.
Block chain 2.0

Opened by digital assets, can be understood as the use of block chain technology in other financial areas.Including the block chain industry standards that Wall Street banks want to create , improvement of the efficiency of bank settlement payment, and reduction of the cost of cross-border payments; Exchanges actively try to use block chain technology to realize the registration of shares,transfer and other functions.
Block chain 3.0

Extending the application of block chain to the sectors that are apart from the financial industry,and using a wide range of scenarios to cover all aspects of human social life which including the use of records management, intellectual property management, the Internet of Things, educational applications and government administration.In all kinds of social activities, the self-certification of information is no longer dependent on the trust or credit of a third party or organization,and the operational efficiency of the entire system will be improved.



Due to the use of distributed accounting and storage, there is no centralized hardware or management mechanism. The rights and obligations of any node are equal. The data blocks in the system are jointly maintained by the nodes with the maintenance functions in the whole system.



The system is open, except for the proprietary information of parties involved in the transaction is encrypted, the data of the block chain is open to everyone, anyone can query the block chain data anddevelop related applications through a public interface, so the entire system information is highly transparent



The block chain uses consensus-based protocols and protocols (such as a set of open and transparent algorithms) that allows all nodes in the entire system to exchange data freely and securely in a trusted environment so that trust in"people" has been reversed machine trust, and human intervention does not work.


Information Security

Once the information has been validated and added to the block chain, it will be stored forever, unless it is possible to control more than 51% of the nodes in the system at the same time, or modifications to the database at a single node are not valid, so the stability and reliability of block chain data are extremely high.



Since the exchange between nodes follows a fixed algorithm, the data exchange is trustless (the rules of the program in the block chain determine whether the activity is valid), so the counterparty does not need to trust the other party in an open manner. This is a machine that can create trust.

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