At the end of the year, a noun named “blockchain” is booming. Two or three years ago, it was only a small group of people talking about the blockchain. Look at the current circle of friends, news media, and science and technology people. Almost everyone can talk more or less about their understanding of blockchain. Despite this, there is still no answer that people can read. Everyone is very esoteric. Today we’ll replace the definition of blockchain with a more understandable concept so that everyone could understand easier and better.
First of all, we must be clear that the blockchain is actually a new application model of Internet technology such as distributed data storage, P2P transmission, consensus mechanisms and encryption algorithms. The so-called consensus mechanism is a mathematical algorithm for establishing trust and acquiring rights between different nodes in a blockchain system. In simple terms, it is a decentralized database. The underlying technology and framework of Bitcoin are blockchains. As a machine for constructing trust, it may change the transmitting mode of human society values.
So let’s take a look at the easy-to-understand explanation
At one time when we wanted to find a little movie, we need to visit XXX website, which is centralized. Afterwards, the website could not be used. No one could access these little movie on the website. However, it doesn’t matter because the movie and photos of a well-known netizen Edison Chen has been saved on millions of wretched men’s computers. Unless the earth is destroyed, the data will not be extinct, and this is called decentralized, distributed data storage.
Later, there was a super fancier named “Zhongben”. He collected all the resources of Edison Chen and to make these resources imperishable, he established an Internet shared folder “Mr. Chen Plus.” If users want to watch, he must abide by the agreement: No photo in “Mr. Chen Plus” can be copied, modified, or edited, and all the operations of the user in “Mr. Chen Plus” will be recorded. If someone maliciously deletes or destroys the resources in “Mr. Chen Plus,” the person’s behavior will be recorded and sent to all remaining users, and then the resources in other millions of users’ computers will be synchronized to recover “Mr Chen Plus”. This is the so-called decentralized storage of blockchain data.
In addition to this, there is a situation where you can increase the resources in “Mr. Chen Plus”, that is, the “Blockchain Consensus Layer.” In simple terms, millions of users reach a consensus to increase the resource of “Mr. Chen Plus”, otherwise it cannot be added arbitrarily.
And the super fancier“Zhongben” will ask everyone to fill out an agreement that “Users can use X tools to shoot Chen’s resources at specific times of the year. The top 100 resources will be enrolled as the new content of “Mr Chen’s Plus” main content. Then we can price the resources and launch “Mr. Chen Plus” coin because all resources in “Mr. Chen Plus” are non-destructive and cannot be modified. Because of its uniqueness, we value it, and the value of each internal resource itself will continue to increase.
After that, how is it estimated on earth ?
It requires ICO. In simple terms, me and manager Xiao set up a foundation. At the press conference, we said that the resources in “Mr. Chen Plus” are worth X billion, and each resource is X million. We will subscribe for half of the resources while users can buy the remaining source at will. Based on this, some people will jump out to do speculation, and the resources in “Mr. Chen Plus” will be more and more expensive, thus the price for “Mr. Chen Plus” will get higher and higher.
Incidentally, we’ll explain the meaning of “mining”. According to “Zhongben”, high-quality resources will need corresponding conditions for certification. We need to spend a lot of time and spirit to make a high-quality resource. Only one high-quality resource can be added every ten minutes. Two users cannot add at the same time, so whoever collects the “Seven Dragon Balls” will be considered as a successful addition.
X tools can be understood as mining machines. Shooting is mining. Bitcoin uses algorithm mining as a consensus while “Mr. Chen Plus” uses photography as a consensus for increasing data.
Shanghai Heshu Software Co., Ltd. is an innovative technology company specialized in the development and application of blockchain technology and a professional blockchain technology service provider. The team has been developing blockchain technology since 2016, and has conducted in-depth research on blockchain encryption algorithms, consensus mechanisms, network security, distributed data storage and peer-to-peer blockchain technology. Shanghai Heshu Software has developed a Likelib blockchain technology system based on its first-rate blockchain technology team.
Over the past decade or so, China’s strong network and industrial boom have all stimulated the rising demand for blockchain technology, and the development of domestic blockchain technology is also on the rise. And Shanghai Heshu Software Co., Ltd has gone through smooth sailing and rapid performance development in the past two years!
Likelib is a blockchain 3.0 underlying infrastructure for commercial applications that is easy to use and access.
With Likelib, developers can customize blockchain sidechains, smart contracts, cloud storage, and profit from building, publishing, and distributing applications in the system.
In the LikeLib team’s technical conception, LikeLib combines the essence of the existing high-quality blockchain technology to build a more efficient, secure and scalable credit value chain ecosystem.
LikeLib is committed to creating diversified application services that can adapt to different industry application scenarios. Make it easier and faster for ordinary users to access Likelib and build applications. If it is used in finance, law, government agencies, enterprises, literary and art work, charity and public welfare, and logistics networks, it will change the entire Internet landscape.
Blockchain technology and smart contracts are changing the world when people are not aware of it.
Basically, these are the algorithms and meanings of blockchain and Bitcoin., which are relatively “common” and we hope you can take them as a reference.
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