Introduction to Blockchain

What is Blockchain#

Origin#

Blockchain originated from Bitcoin, created by Satoshi Nakamoto. As the underlying technology of Bitcoin, it is essentially a decentralized distributed database. It is a technical solution that collectively maintains a reliable database through decentralization and trustlessness. The open-source software for Bitcoin was released in 2009. The concept of "blockchain" was later popularized by those who promoted this technology, although it was not mentioned in the Bitcoin whitepaper.

Principle#

Recommended reading in order (from basic to advanced):

Features#

Decentralization: The blockchain database is collectively maintained by multiple nodes on the network, without a central control point.
Transparency: Transaction records are publicly available to all participating nodes, and each node can verify transactions.
Immutability: Once a transaction is recorded in a block and confirmed by the network, it cannot be changed or deleted unless the majority of nodes on the network can simultaneously tamper with their records, which is practically impossible.
Decentralization: Due to the absence of a central control point, the blockchain network does not rely on any single entity, increasing the degree of decentralization.

Applications#

Blockchain has a wide range of applications, including but not limited to cryptocurrencies, supply chain management, smart contracts, identity verification, and copyright protection. Through decentralization and encryption technology, blockchain provides a new, secure, and reliable way for the exchange of information and value.

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