Blockchain is a new application mode of distributed data storage, point-to-point transmission, knowledge mechanism, encryption algorithm and other computer technologies. The so-called * * * knowledge mechanism is a mathematical algorithm for building trust and acquiring rights between different nodes in the blockchain system.
Blockchain is an important concept of Bitcoin, which is essentially a decentralized database as the underlying technology of Bitcoin. Blockchain is a series of data blocks related by cryptography, and each data block contains a bitcoin network transaction information, which is used to verify the validity of its information (anti-counterfeiting) and generate the next block.
In a narrow sense, blockchain is a chained data structure that combines data blocks in chronological order, which is cryptographically guaranteed to be an unbreakable and unforgeable distributed account book.
Broadly speaking, blockchain technology is a brand-new distributed infrastructure and computing method. It uses blockchain data structure to verify and store data, uses distributed node identification algorithm to generate and update data, uses cryptography to ensure the security of data transmission and access, and uses intelligent contracts composed of automated script codes to program and manipulate data.