The birth of blockchain marks the beginning of building a truly trusted Internet. The following is a more detailed introduction by ait world.
Blockchain technology, also known as distributed ledger technology, is an Internet database technology characterized by decentralization, openness and transparency, allowing everyone to participate in database records. Blockchain technology is not a single technology, but a comprehensive technology system integrating various research results. Among them, there are three indispensable core technologies: consensus mechanism, cryptography principle and distributed data storage.
Blockchain technology can build an efficient and reliable value transmission system, promote the Internet to become a network infrastructure for building social trust, and realize the effective transmission of value, which is called the value Internet. Blockchain provides a new type of social trust mechanism, laying a new foundation for the development of the digital economy. “Blockchain+” application innovation shows the new direction of industrial innovation and public services.
The recent development trend of blockchain mainly includes the following aspects:
First, upgrade the application mode. In view of the security of the public chain and the balance between the increasing transaction volume and the existing network capacity, the future blockchain applications will be mainly alliance chain, private chain or hybrid chain. Bitcoin mode increases the maintenance cost of the blockchain network, which is not fully applicable to low value and low risk transactions. Considering the improvement of efficiency and security, the future will be composed of alliance chain, private chain, or a hybrid chain composed of alliance chain and private chain.
Second, polycentric. In the future, the blockchain system architecture will be to build a trusted multi center system, upgrade the decentralized and independent single centers to a unified multi center with multiple participation, so as to improve the efficiency of trust transmission and reduce transaction costs. That is, under the environment of information asymmetry and uncertainty, establish a “trust” ecosystem to meet the occurrence and development of various activities.
Third, promote breakthroughs in other industries through financial innovation. The application field of blockchain will first start from the field where there is a demand for mutual trust building among trading parties, but it is not easy to establish trust relationships. With the popularization of applications and the improvement of social awareness, blockchain will gradually penetrate into all areas of society.
Fourth, the socialization of smart contracts. In the future, all contractual agreements will be intelligent. Smart contracts can ensure the reliable execution of all agreements and avoid tampering, repudiation and breach. In addition to transforming tangible assets in society into digital intelligent assets for rights confirmation, authorization and real-time monitoring, blockchain can also be applied to intangible asset management in society, such as intellectual property protection, domain name management, point management and other fields.
The explosion of digital currencies such as Bitcoin has promoted the development of its underlying blockchain technology, and the cold winter has brought the industry into a period of reflection and precipitation. We look forward to the landing of blockchain valuable applications, which will truly create value for the society.