Let’s think about making a transaction without involving your bank or other influential third party authority. It makes a big ‘aww’ in your face, I know. But, it’s also true that very few people know about the magical world of the blockchain technology. But don’t worry, this technology has stepped ahead from the ‘buzzword’ stage to reach out for every doorstep in this world. Hold still; we are about to explore ‘the biggest innovation in computer science’ dedicated to humankind.
What is Blockchain?
The first concept of Blockchain was the brainchild of Satoshi Nakamoto and his group of programmers in 2008, and the technology was implanted as the core element of the open-source software Bitcoin cryptocurrency in 2009.
Technically saying, 它是一个分布式数据库管理的记录不断增长的列表,,en,命名为块,,en,每块拥有一个时间戳，并链接到先前块,,en,但它只是一个草图,,en,它的主要目的是解决以分散的方式重复消费的问题，而跨调解任何可信的第三方，就好像银行或政府使用验证的工作方案,,en,结果,,en,你并不需要你的资产提交到一个集中的全能公司或政府有影响力的保护或货币化它的目的,,en,使他们可以通过隐私等或与你做的每一笔交易干扰,,en,有没有必要害怕任何欺诈的,,en,因为它是相当直接的过程与自由的完整意义上拥有自己的财产,,en, named as blocks. Here, every block owns a time-stamp and is linked to a previous block. But it’s just a rough sketch. The main purpose of it is to resolve the issue of double-spending in a decentralized manner without inter-mediating any trusted third party as if bank or government using the scheme of proof-of-work.
Results?
You don’t need to submit your assets to a centralized almighty company or government influential for the purpose of protecting or monetizing it, so that they can peer through your privacy or interfere with every transaction you make. There is no need to be afraid of any fraudulence, because it’s quite a direct process with a complete sense of freedom to own your property. It’s “对真理和信任的平台。”,,en,让我们挖了一个深一点,,en,在接受采访,,en,麦肯锡,,en,里克·柯克兰,,en,该塔普斯科特集团总裁多恩·塔普斯科特阐述blockchains的开源分布式数据库是如何使它不仅能够协作，并通过国家的最先进的加密技术跟踪各种交易和互动，但与真正的隐私保护解决认证,,en,在他的书,,en,块链革命,,de,共同创作与他的儿子亚历克斯·塔普斯科特,,en,唐解释在90年代初旧媒体之间的差异与一对多方案和今天的媒体开放与多对多的处理，任何人都拥有改变底层代码的权限,,en,它可以被假定为一个巨大的,,en Let’s dig a bit deep.
In the interview with McKinsey’s Rik Kirkland, the Tapscott Group CEO Don Tapscott elaborates how the open source distributed database of blockchains is making it possible not only to collaborate and track every kind of transaction and interaction by using state-of-the-art cryptography but to authenticate the settlement with genuine privacy protection.
In his book Blockchain Revolution co-authored with his son Alex Tapscott, Don explained the difference between the old media in early 1990’s with one to many schemes and today’s open media with many to many processing where anyone holds the authority to alter the underlying code. It can be assumed as a giant, worldwide spreadsheet running on every computer connected to the internet. 现在, when anyone can participate in the coding process, all of them can also have the access to watch over the entire picture for every event taking place in this open media.
Let’s have an example of money transferring. Say, you need to transfer $100 to someone. You make the transaction, and again, you send the same file to another person. 现在, when you are using the digital payment system using Bitcoin crypto-currency, it is authenticated by network nodes and recorded in the public ledger of blockchain. (Here to mention that the biggest blockchain technology bitcoin is certified as the first decentralized digital currency since it eliminates the requirement for any single central administrator.) 现在有矿工谁不断验证和每一个新的事务广播记录到一个叫做块新组,,en,每个矿工的目的是为首次发现，以寻求真相,,en,一旦收集,,en,它成为整个社会的使用这个开源的证据,,en,通过求解数学的一个复杂的问题，这个挖掘服务的奖励是获得一些钱就是一些比特币要具体,,en,交易手续费是可选,,en,矿工所在的优先级基于高度支付的费用及以上未发送的输入交易,,en,费用取决于存储容量和输入来处理事务的数量,,en.
Here, every miner aims for the first discovery to search for the truth. Once collected, it becomes the evidence of the entire community using this open source. The reward for this mining service by solving a complex problem of mathematics is to gain some money that is some bitcoin to be specific. Here, the transaction fee is optional, where the miners prioritize the transactions based on highly paid fees and older unsent inputs.
Fees depend on the storage size and the number of inputs to process the transaction. Now to hack the transaction or payment process to send the same digital file to someone else is practically impossible as it requires to hack that ten-minute block. Here, every block owns a cryptographic hash of its previous one by using the SHA-256 hashing algorithm, which connects it to its previous block and the previous of that and so on.
Thus, it has earned the name as the blockchain which is connected to the millions of computer systems. That is to commit a fraud, it must take place beneath the nose of the entire history of commerce. Is that possible? Definitely no.
The present status of Blockchain:
The blockchain technology or bitcoin currency don’t stop conquering only the financial industries. It is also exchangeable into other currencies, 服务或产品，因为它要收集数据的任何结构良好的信息，如果有人与别人婚姻状况的能力,,en,拥有财产的知识,,en,连接到特定的服务或你能想到的任何其他信息的动力源,,en,物联网是在blockchain系统结算的要求,,en,其中，实时交易的无数号拿东西之间发生,,en,这是不可能的银行保持,,en,二月里,,en,曾经有,,en,商家和供应商谁接受比特币作为支付方式,,en,而在剑桥大学举行的调查报告,,en,宣布其加密货币钱包作为唯一的用户数量,,en,全球百万,,en,其中大多数系统都比特币,,en, the knowledge of owning property, a power source connected to a specific service or any other information you can think of. Internet of Things is in requirement of a blockchain system settlement, where uncountable numbers of real-time transactions take place between things, which is impossible for the banks to maintain.
In February 2015, there were 100,000 merchants and vendors who accepted bitcoin as the method of payment. And the survey report held by Cambridge University in 2017 proclaimed the quantity of unique users having crypto-currency wallet as 2.9 to 5.8 million worldwide, among which most of the systems are bitcoin. 为了了解这个现代革命性的技术植入信任,,en,你必须通过广泛的图片，其中谷歌的整个计算电源只能估计是看到,,en,铺展为比特币blockchain的blockchain计算电源的,,en,这个开源软件包含的潜力，以每一个行业的整个系统重新进入中和的前景，每个人都扮演平等的作用，通过他们创造的数字资产参与并拥有价值,,en,同样曾为伊莫金·海亚普,,en,来自英国的知名创作歌手,,en,谁是小组菌丝的创造者中的一员,,en,他们勾结blockchain开发公司共识系统,,en, you must see through the broad picture where the whole computing power source of Google is estimated only to be the 5% of the blockchain computing power source spreaded for bitcoin blockchain.
This open source software contains the potentiality to rearrange the entire system of every industry into the prospect of neutralization where everyone plays the equal role to participate and own the value through the digital asset they create.
The same has worked for Imogen Heap, the well-known singer-songwriter from the United Kingdom, who is a member of the group of creators of Mycelia. They collaborated with the blockchain developer company Consensus Systems, and she posted her song onto the internet with the help of Ethereum platform of blockchain.
Permission less and Permissioned or private blockchains:
Bitcoin and other crypto currencies use permission less open blockchains as the public ledger. In September 2016 bitcoin has capitalized for highest market share in the blockchain history. These open technologies are secured by the method of proof-of-work. Bitcoin, in this case, included Hashcash puzzles created by Adam Back in the 1990s.
But the financial companies prefer private or permissioned blockchains instead of decentralized, open sources. These technologies encourage the openness and collaboration with their open source protocols to control the selection of participants in the consensus process. The New York Times has reported the tendency of many organizations in both 2016 和 2017 利用其独立的公共系统的私人blockchains,,en,缺点,,en,每一个机会附带了一些待解决的问题和blockchain革命是不从异常,,en,在计算机世界,,en,尼古莱·汉普顿已精确定位的问题上私人blockchain为,,en,也没有必要对私人blockchain一个'51％的”攻击,,en,私营blockchain,,en,最有可能的,,en,已控制,,en,所有块创建资源的百分比,,en,如果你可以攻击或损坏的私人公司服务器上的blockchain创建工具,,en,你可以有效地控制,,en,他们的网络％，而改变，但是你想交易。,,en,对于比特币,,en,他加了,,en,“比特币blockchain是由大量的矿业集团努力保护,,en.
Disadvantages:
Every opportunity comes with some questions to be answered and the blockchain revolution is no exception from that. In Computerworld, Nikolai Hampton has pinpointed the issue on private blockchain as: “There is also no need for a ‘51 percent’ attack on a private blockchain, as the private blockchain (most likely) already controls 100 percent of all block creation resources. If you could attack or damage the blockchain creation tools on a private corporate server, you could effectively control 100 percent of their network and alter transactions however you wished.” For bitcoin, he added, “the bitcoin blockchain is protected by the massive group mining effort. 这是不可能的，任何私人blockchain会尽力保护利用计算能力吉瓦记录 - 这是费时和昂贵。,,en,“在私人blockchain也没有‘种族’,,en,有没有动力去使用更多的权力，或发现块比竞争对手更快,,en,这意味着许多内部blockchain解决方案将成为无非繁琐数据库的更多。,,en,应用与未来,,en,相反，有一些问题上下工夫,,en,我们现在可以专注于应用程序blockchain的广大地区正在提供给我们的世界,,en,blockchain最大的应用包括像比特币cryptocurrencies,,en,blackcoin,,en,仪表板和NXT和blockchain平台，如Factom分布式注册表,,en,宝石下放消息,,en,Maidsafe用于分布式应用,,en” Also, “Within a private blockchain there is also no ‘race’; there’s no incentive to use more power or discover blocks faster than competitors. This means that many in-house blockchain solutions will be nothing more than cumbersome databases.”
Application and the Future:
Instead of having some issues to work on, we can now focus on the vast area of applications blockchain is offering to our world.
- The biggest application of blockchain includes cryptocurrencies like bitcoin, blackcoin, Dash and Nxt and the blockchain platforms like Factom for distributed registry, Gems for decentralized messaging, Maidsafe for decentralized applications, 等等.
- 保险业与对等网络保险一枝独秀,,en,参数保险和小额保险与采用blockchain的,,en,智能合同blockchain的基础这是部分地或完全可执行的，没有任何人的交互上创建,,en,替代blockchains或altchains依赖于比特币的技术概念或编码的基础上，,,en,在非cryptocurrency设计,,en,LaZooz,,hu,基于分散拼车方法,,en,Synereo,,en,适用于同步和异步通信,,en,Steemit结合了博客网站与cryptocurrency,,en,并且该列表包括更,,en,在商业领域,,en,德勤ConsenSys,,en,计划在,,en,名为项目ConsenSys数字银行,,en,微软的Visual Studio,,en,是允许的复仇密实度的语言，应用程序开发人员的可用性,,en, parametric insurance and microinsurance with the adoption of blockchain.
- Smart-contracts are created on the basis of blockchain which is partially or fully executable without any human interaction.
- Alternative blockchains or altchains are dependent on the bitcoin technology on the basis of concept or coding. Within the non-cryptocurrency designs, LaZooz is based on decentralized ride sharing methodology, Synereo works on synchronous and asynchronous communications, Steemit combines a blogging site with cryptocurrency, and the list includes much more.
- In commercial sectors, Deloitte and ConsenSys planned in 2016 for a digital bank named Project ConsenSys; Microsoft Visual Studio is allowing the availability of Ethereum Solidity language for application developers; 迪斯尼基础上，blockchain技术创建的Dragonchain,,en,名单尚未完成,,en,固然,,en,这是很难判断准确的潜力和有潜质的技术像blockchain未来的影响,,en,有一两件事是可以肯定的，随着blockchain,,en,机会是无止境的，真正的,,en,在blockchain技术的实施将与它的全球影响力以及决定其未来,,en,块链,,de,让我们来探讨,,en.
结论:
The list is not complete yet. Admittedly, it’s hard to judge the exact potential and the future impact of a budding technology like blockchain. But, one thing is for sure that with blockchain, the opportunities are endless and truly, the implementation of the blockchain technology will decide its future along with its global impact.
