Specific features of blockchain

  1. Decentralization. Due to the use of Distributed Accounting and storage, there is no centralized hardware or management organization in the system. The rights and obligations of any node are equal. The data blocks in the system are jointly maintained by the nodes with maintenance function in the whole system.

  2. Openness. The system is open. Except that the private information of all parties to the transaction is encrypted, the data of the blockchain is open to everyone. Anyone can query the blockchain data and develop relevant applications through the open interface. Therefore, the information of the whole system is highly transparent.

  3. Autonomy. The blockchain adopts consensus based specifications and Protocols (such as a set of open and transparent algorithms) to enable all nodes in the whole system to freely and safely exchange data in a distrusted environment, so that the trust in "people" is changed into the trust in machines, and no human intervention will work.

  4. The information cannot be tampered with. Once the information is verified and added to the blockchain, it will be permanently stored. Unless more than 51% of the nodes in the system can be controlled at the same time, the modification of the database on a single node is invalid. Therefore, the data stability and reliability of the blockchain are very high.

  5. Anonymity. Because the exchange between nodes follows a fixed algorithm, its data interaction does not need trust (the program rules in the blockchain will judge whether the activity is effective). Therefore, the counterparty does not need to make the other party trust itself by means of public identity, which is very helpful to the accumulation of credit.