The birth of blockchain marks the beginning of building a truly trusted Internet.
Blockchain technology, also known as distributed ledger technology, is an Internet database technology, which is characterized by decentralization, openness and transparency, so that everyone can participate in database records. Blockchain technology is not a single technology, but a comprehensive technology system based on the integration of various research results. There are three indispensable core technologies: consensus mechanism, cryptography principle and distributed data storage.
Blockchain technology can build an efficient and reliable value transmission system, promote the Internet to become a network infrastructure for building social trust and realize the effective transmission of value, which is called value Internet. Blockchain provides a new social trust mechanism and lays a new foundation for the development of digital economy. The "blockchain +" application innovation indicates the new direction of industrial innovation and public services.
The foundation of value interaction is the establishment of mutual trust. The revolution of blockchain technology lies in its realization of a new way of trust. Through design innovation at the technical level, the trust relationship between people in the process of value interaction can be transformed into the trust between people and technology, and even some links can be executed automatically by the program, so that business activities can be realized at a lower cost.
Blockchain technology is considered to be the next generation of disruptive core technology after steam engine, power and Internet. If the steam engine releases people's productivity, electricity solves people's basic living needs, and the Internet has completely changed the way of information transmission, the blockchain, as a machine for building trust, may completely change the way of value transmission of the whole human society.
Blockchain will have a huge impact on the existing economy and society, and is expected to reshape the form of human Internet activities.
The recent development trend of blockchain mainly includes the following aspects:
First, upgrade the application mode. In view of the security of the public chain and the increasing transaction volume, and the balance between the current network capacity, the application fields of blockchain in the future will be mainly alliance chain, private chain or hybrid chain. Bitcoin mode increases the maintenance cost of blockchain network, which is not fully applicable to low-value and low-risk transactions. Considering the improvement of efficiency and security, the future will be composed of alliance chain, private chain, or hybrid chain composed of alliance chain and private chain.
Second, centralization. In the future, the blockchain system architecture will be to build a trusted multi center system, promote the decentralized and independent single center to a unified multi center with multi-party participation, so as to improve the trust transmission efficiency and reduce the transaction cost. That is to establish a "trust" ecosystem to meet the occurrence and development of various activities under the environment of asymmetric and uncertain information.
Third, drive application breakthroughs in other industries from financial innovation. The application field of blockchain will start from the fields that require mutual trust between trading parties, but it is not easy to establish trust relations, such as finance, securities, insurance and so on. With the popularization of applications and the improvement of social awareness, blockchain will gradually penetrate into all fields of society. For example, blockchain has been preliminarily applied to political elections, corporate shareholder voting, gambling, market forecasting and other fields.
Fourth, the socialization of smart contracts. In the future, all contractual agreements will be intelligent. The use of smart contracts can ensure the reliable implementation of all agreements and avoid tampering, repudiation and breach of contract. In addition to transforming tangible assets into digital intelligent assets for right confirmation, authorization and real-time monitoring, blockchain can also be applied to intangible asset management in society, such as intellectual property protection, domain name management, point management and other fields.
The outbreak of digital currencies such as bitcoin has promoted the development of its underlying blockchain technology. The cold winter has brought the industry into a period of reflection and precipitation. We look forward to the landing of valuable applications of blockchain and truly create value for the society.