A long time ago, in a small village, Xiao Li asked Xiao Si to borrow 10,000 money, but Xiao Si was afraid that Xiao Li would be dishonest, so he asked the village chief justice, and the village chief wrote down the account. The village head is highly respected, everyone trusts the village head, and the village head has the loan records of the whole village. This is the traditional way of bookkeeping. Everyone trusts the village chief, and the village chief is the centralization of the whole village’s lending.

Suddenly one day, the village chief was arrested for corruption, and everyone would no longer trust the village chief. What about the village loan?

At this time, Xiao Si thought of a good way. In the future, when Xiao Li asked Xiao Si to borrow money, Xiao Si shouted through the loudspeaker in the village: Xiao Li asked me to borrow 10,000 yuan today, and everyone took out the ledger to record. Every loan in the future will be recorded by the whole village. In this way, no one is corrupt, and no one can tamper with the loan records. Isn't this safer? This is the earliest model of the decentralized blockchain.

What exactly is blockchain?

What is blockchain? A little story for you to fully understand

Blockchain: is a decentralized distributed ledger database. The advantage of this distributed ledger is that buyers and sellers trade directly without any intermediaries, and everyone has a backup, even if your copy is lost.

A long time ago, in a small village, Xiao Li asked Xiao Si to borrow 10,000 money, but Xiao Si was afraid that Xiao Li would be dishonest, so he asked the village chief justice, and the village chief wrote down the account. The village head is highly respected, everyone trusts the village head, and the village head has the loan records of the whole village. This is the traditional way of bookkeeping. Everyone trusts the village chief, and the village chief is the centralization of the whole village’s lending.

Suddenly one day, the village chief was arrested for corruption, and everyone would no longer trust the village chief. What about the village loan?

At this time, Xiao Si thought of a good way. In the future, when Xiao Li asked Xiao Si to borrow money, Xiao Si shouted through the loudspeaker in the village: Xiao Li asked me to borrow 10,000 yuan today, and everyone took out the ledger to record. Every loan in the future will be recorded by the whole village. In this way, no one is corrupt, and no one can tamper with the loan records. Isn't this safer? This is the earliest model of the decentralized blockchain.

What exactly is blockchain?

What is blockchain? A little story for you to fully understand

Blockchain: is a decentralized distributed ledger database. The advantage of this distributed ledger is that buyers and sellers trade directly without any intermediaries, and everyone has a backup, even if your copy is lost.