In 2008, in the paper bitcoin: a point-to-point e-cash system, the author Nakamoto proposed an innovative solution, skillfully integrating the existing products and technologies of cryptography, network science, computer science, sociology and other disciplines, and constructing the underlying technology of bitcoin - blockchain.Blockchain technology is a new distributed infrastructure and computing method that uses block chain data structure to verify and store data, uses distributed node consensus algorithm to generate and update data, uses cryptography to ensure the security of data transmission and access, and uses intelligent contract composed of automatic script code to program and operate data.

Generally speaking, it is like a distributed database ledger, which is encrypted and put on the network. Everyone can have a backup and maintain it together, so it can safely record all transaction information.