What is Blockchain

• Blockchain is a modern application mode of computer technology such as distributed data storage, point-to-point transmission, consensus mechanism, and encryption algorithm.
• It is Virtually a decentralized distributed database. Anyone can become a node of this huge network as long as they set up their own server and access the blockchain network.

Talking About Blockchain Technology

• If you are a girl, your boyfriend said to you “I love you forever”.
• Then you send this sentence to your classmates, parents and circle of friends. For example, you can send the message on Facebook, Twitter and Instagram. Your boyfriend can no longer deny, because everyone knows.
• Then you give some of the related people above some tips as “miner fees”.
• “I love you forever” The time when the sentence is spoken, the object of the speech, etc. are packaged to form an information packet and synchronization is a block .
• Twitter, Facebook, etc. are nodes. If your boyfriend does not admit to saying it, you will find this account book to confront and kick the boyfriend node out of the relations network.

Some Terms You Need to know in Block Technology

Ledger

In the blockchain system, there is a ledger, which is an electronic file that document all transaction records

Consensus

After all nodes synchronize to the highest block, there will be all the ledger information for everyone.

Node

This ledger is not stored in a central institution (such as a bank) or a database. It has endless copies, which are distributed and stored in every computer on the blockchain network, and each computer is called a “node”.

Multi-center

Having said that, the account book is managed by a group of computers, not by a central organization similar to a single database.