The concept of Blockchain is an important part of Bitcoin, it is a centralized database with the underlying technology of Bitcoin. The blocks are produced by encryption algorithm, each block contains the Bitcoin network transaction information and used for verifying the information effectiveness, then generate the next block.
Due to the full use of these underlying technologies, the database based on blockchain technology owned the absolutely safety and trusty for data. The characteristics about transparency to the internal and external are extremely enhanced, specially to these superiorities such as decentralized, immutability, openness and autonomy.
Outstanding features of Blockchain
| Characteristics | Description |
| Distributed & Decentralized | Each node stores the entire copied database, non-centralized management mechanism, and there is no need for both sides to establish a trust relationship through the third-party. |
| Immutability & Safey | Once the information is verified and added to Blockchain, all these will be stored permanently, it is invalid to change the data unless it can control more than 51% nodes. So Blockchain has data stability, safety and high reliability. |
| Public system with openness | Using the mature cryptology to protect the immutability of transaction data, establish the trust relationship; Bllockchain data is open to anyone, and the entire system information has highly transparency. |
| Collective maintenance | Based on the strict encryption and data verification protocol, the nodes in the system can exchange automatically and safely, then update all data. |
Blockchain is a highly credible and transparent database system that can be used to cross trust barriers between companied or individuals. The past database system was controlled by a company or an alliance, so its own data storage security and data credibility problems could not be guaranteed, only through the third party or multi-party to realize it. But Blockchain can solve all these problems, any company or individual can own the only node in Blockchain to join the whole system, technology and system can ensure the data identity and reliability. Blockchain database system can verify data by itself without additional investment, manpower or computing ability, so as to abtain the completely trust and improve the effectiveness of the system.
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