What are the two attributes of blockchain technology?

What are the two attributes of blockchain technology

Since the birth of blockchain to the present, the application fields based on blockchain technology have also continued to increase. The popularization of blockchain makes it no longer limited to the professional field, but more open to the public, and it also brings a lot of help. Now let’s talk about two unique properties of blockchain.

What are the two attributes of blockchain technology?
Blockchain technology

1. Public chain – open to anyone, anyone can participate

1. The public chain can be read by all participating nodes and experience the entire process of sending transactions and confirming transactions using blockchain technology.

2. The public chain is the application with the highest degree of openness and the most extensive participation, which means it has the strongest decentralization attribute. In the public chain, operations such as maintenance and data storage no longer rely on a centralized server. This is jointly recorded and maintained by thousands of network nodes on the global Internet. No one can change the data privately.

3. All transaction data on the public chain are open and transparent, and everyone can view other account balances and transaction activities in the blockchain www.hsymr.com browser. Every transaction in your cat’s Bitcoin account is packaged and written on the chain, and this data is open to everyone. The complete decentralization of public chains can significantly reduce credit costs and can be widely used in many fields. At present, the relatively mature fields of public chain applications are still the cryptocurrency field represented by Bitcoin and Ethereum.

2. Private chain – all nodes in the network are in the hands of one institution

1. Private chain we can understand from the literal meaning that it means private customization. It is a blockchain whose writing permission is controlled by a certain organization and institution, and the qualifications of participating nodes will be strictly restricted.

2. Because the private chain has such strict restrictions, its degree of decentralization is the lowest. Because it is private, there is no need for a complex consensus mechanism to determine who will keep accounts. There is no incentive mechanism or tokens in the private chain. The value of the private chain is mainly to provide a safe, traceable, non-tamperable, and automatically executed computing platform, which can prevent both internal and external security attacks on data.

After understanding the two attributes of blockchain, many people may express their concerns and accept blockchain technology, a relatively unfamiliar product. In the future, the development of blockchain will not only improve its own usability, but also require more people to understand it, so that it can form its own market and continue to develop and grow.

Like (0)
Previous 2023-10-26 22:22
Next 2023-10-26 22:49


  • How to do IoT application development

    Nowadays, with more and more application scenarios of artificial intelligence, many hardware companies are developing IoT applications for their own products, providing customers with integrated software and hardware solutions. Hardware companies focus on hardware research and development, and software generally finds external Cooperation with companies, such as smart parking, smart water, smart buildings, smart communities and other industries of the Internet of Things. Today I will introduce how to do IoT application development: 1.Understand communication patterns Mainstream IoT applications are based on the TCP protocol. Reported data is analyzed and…

  • APP development preparation materials and solutions

    1. What information is needed to develop an APP? 1. Business license (used to apply for corporate payment, domain name registration, and software listing application) 2. Mobile phone number (used to apply for various platform accounts and certification) 3. Email (users receive emails when applying for authentication) 4. Server (used for system cloud storage space) 5. SMS (used by the platform to send SMS verification codes) 6. Domain name: The access address of the software and the domain name need to be registered. Required information: (business license, legal person information,…

  • What is the specific APP development process?

    Most companies are developing APPBefore, I will consider how to develop, what functions are needed, what materials I need to prepare, how long it will take to develop, how to go online quickly and so on. So, What is the specific APP development process? Let’s find out together: 1. Requirements discussion stage 1. Discussion on APP requirements: communicate with customers, what functions to produce, including: APP development industry type, platform to be developed, detailed product function requirements, clear product design ideas, expected delivery time, cost budget, through repeated research and…

  • Community group buying APP development and solutions

    At the Internet Conference, five new trends in my country’s future economy were proposed: new retail, new manufacturing, new finance, new technology and new energy. Among them, the new retail economy is currently developing relatively hotly. The development of community group buying APP can help companies better improve customer acquisition efficiency and reduce customer acquisition costs, so it has also been sought after by many merchants and continues to improve and progress in social development. Community group buying APP development and solutions 1. Product management: The platform can manage products,…

  • What are the advantages of driving APP software development and what functions should it have?

    The Internet continues to develop, and many APP software appear in people’s lives. As the pace of people’s lives continues to accelerate, many people’s work inevitably requires socializing, which is very inconvenient for car owners. In order to provide convenience to people’s lives, driving APP software development Appearing in people’s lives, users can find a driver online and no longer have to worry about being unable to drive after drinking. 1. Advantages of driving APP software development 1. It is convenient for people to find a driver online: With the…

  • What are the main functions of e-commerce ERP system development? How much does that cost?

    In recent years, e-commerce software has emerged one after another, which not only facilitates users to purchase goods online, but also promotes the development of the offline industry. For online stores, operating stores often requires certain auxiliary tools, so the development of e-commerce ERP systems has emerged. In people’s lives, it is convenient for merchants to manage product inventory online, and they can also plan product purchase targets based on product sales, bringing convenience to people’s lives. 1. What are the main functions of e-commerce ERP system development? 1. Product…