An introduction for Blockchain

With the development of blockchain technology, it will take great changes to the application areas. In fact, Blockchain has the high application value in many areas, such as finance, shared economy, Internet of things and so on, attracting the positive layout from Goldman Sachs, Citigroup, NASDAQ, DDT, Airbnb and other enterprise giants. So what is Blockchain?

What is Blockchain?

Simply speaking, Blockchain is similar to an account book, all of the transaction information can be recorded.  The account book stored in the Bitcoin node of the Internet, and each node has a full backup. The former ID will be recorded in each block, then forming a chain structure, and called Blockchain.

What is the superiority?

Intuitively, it can be said that Blockchain has the following three advantages: Open & Transparent; Collective Maintenance; Reliable Database.

First of all, the data in the Blockchain has a high degree of  sharing, anyone can check the transaction information or the related information you need, with the full transparency.

Secondly, the nodes with maintenance function can maintenance the data blocks in the whole system, and everyone can participate in such nodes. Obviously, Blockchain is a “big data family” involving all users’ maintenance.

Lastly, the most important point is the superior data reliability. For the regularly refresh of data, system chooses the earliest and the most accurate data to record and send it to others to backup. So the more nodes in the system, the higher computing needed, and system will have the higher data security.

Due to the above three advantages, Blockchain owned the trustworthy characteristic and the whole operation is open and transparent, all the data could be maintenanced with unchangeable. So within the defining rule and time scope,  the nodes can not deceive other nodes, and the data exchange between each node does not need the trust.

What is the application prospect?

For these advantages of Blockchain, the industry pays attention to the Blockchain application prospects. The Blockchain ecological circle has rich and perfect resource, from financial market to the emerging fields, perfect the industrial chain to support blockchain technology with rapid and sustainable development.

Blockchain has multitudinous bonding points with future industry, with huge investment opportunities, and everything can be digitizes and digital scene will have Blockchain figure. By other ways, blockchain technology can be applied in broad areas, such as currency, finance, intellectual property, notarization, networking, medical, communications, data storage, supply chain and many other fields.

Zhejiang Shuqin Technology Co.,Ltd (https://www.baoquan.com/en/)is a innovating enterprise that is devoted to the blockchain development and application. We have made a great contribution to the development of blockchain chip design, primary digital asset transaction and consensus mechanism network from 2013. Founded in 2015, BAOQUAN.COM is a one-stop service platform for e-data attestation with the experts from the industry chain, the financial, the law, etc.