Last time we talked about what Bitcoin is, today we talk about blockchain technology.
Blockchain and blockchain technologies are actually different concepts. The block itself is like the storage cabinet when we go to the supermarket. In Bitcoin, the block is used to store bitcoin transactions. If there are too many blocks to store, you need to dig out new blocks (this is Digging), and in the first block of the new block, the hash value of the previous block (which can be understood as the block number) is stored, so that the blockchain is connected by head and tail. Technically, the blockchain can be stored as a flat file or a simple database, which is not complicated to implement, nor is it a new concept. The difference is that the blockchain used by Bitcoin is decentralized, that is, distributed, and forms a whole blockchain technology, which introduces many concepts.
The first is how the blockchain is decentralized. This requires a P2P (peer-to-peer) network and support from different nodes on the network.
In the Bitcoin network, each node is a collection of four functions: routing, wallet, mining, and blockchain database. Each node maintains a copy of the blockchain. The nodes usually use TCP protocol to transmit. Port 8333 establishes a connection. All the copies of the reserved blockchain are called full nodes, the reserved blockchains are partially called pruning nodes, and there are also portable ones such as mobile phone bitcoin wallet APP, which are called SPV nodes. SPV is a "simple payment authentication" method, which is mainly to build lightweight nodes. For example, I traveled with 3 suitcases. It was inconvenient to go in and out. I will store 2 large suitcases and carry a small suitcase with me. When I need it, I can use the other two large ones. The suitcase is retrieved. This is the working mode of the lightweight node, of course, SPV has a more secure mechanism to verify that the trunk has been opened.
The Bitcoin network has more than tens of thousands of nodes so far. How do I identify and discover existing nodes if new nodes are added? A better approach is that the Bitcoin client maintains a list of long-term stable running nodes. These nodes can also be viewed as "seed nodes" of the Bitcoin network, through which they can quickly discover other nodes in the network. If a node does not respond for 90 consecutive minutes, it will be considered as a network outage, and the node needs to restart and then initiate the connection to join the network.
Since there are more nodes, a consensus mechanism is definitely needed to manage them. At present, the consensus mechanism used by blockchain technology mainly includes PoW (Proof of Work) workload proof, PoS (work equity certificate), DPoS (trust entitlement certificate) and traditional consistency algorithms such as PBFT (Byzantine fault tolerance), PAXOS, RAFT, etc. . Bitcoin uses PoW, Ethereum uses PoW+PoS, bite shares, EOS, etc. use DPoS, and superbooks use PBFT. The detailed consensus mechanism is discussed in the next chapter.
P2P network architecture, consensus mechanism and blockchain database form the cornerstone of blockchain technology. As we said last time, there is one less thing here, which is the incentive mechanism. At present, most of the blockchain-based applications use Token as an incentive mechanism. The meaning of Token itself may be as important as the blockchain. We all know that bookkeeping is the basis for generating wealth. Individually produced goods can't show value if they are not traded. It is precisely because they can be booked before they can exchange equivalence, thus creating more wealth. But in the real world, many things can't be quantified, or the quantized granularity is too thick, so there is no way to exchange or exchange efficiently. For example, your house cannot be split into 10 shares to sell. In the blockchain technology, the introduction of Token solves this problem well. All physical and virtual assets can be quantified and traded through Token, including mining revenue, transaction fees, various physical assets and Digital assets such as houses, sows, blogs, game equipment, songs, etc., and Token-based encryption mechanisms and private key verification mechanisms ensure the security of asset transactions, while the consensus mechanism avoids the problem of “double paymentâ€. These are all real-world problems, so I personally think that the introduction of Token is an innovation with the same meaning as the blockchain.
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