What is a blockchain?
Technically speaking, a blockchain is a distributed database system that involves different nodes. It is an open accounting system. Its database is shared by all network nodes, updated and supervised by all users, but no user can own, control, tamper this database. A blockchain consists of a series of data blocks or data packets that are generated in a cryptographic manner, that is, data information of each block is automatically time-stamped to calculate a data encryption value, which is called Hash. Each block contains the hash value of the previous block, which is chained from the genesis block to the current block, thereby forming a block chain.
The blockchain is a consensus protocol that follows a mutually agreed mechanism and conducts direct, peer-to-peer interactions without intermediate authority arbitration. The future blockchain will be widely applied to fields such as financial transactions, public records, documents, private records, certificates, physical assets and intangible assets.
Blockchain Builds Trust Through This Consensus Mechanism.
With it, all nodes in the entire system can automatically and safely exchange data in a trusted environment. Compared with other time-consuming and costly tool technologies, it can be automatically coupled and enforced in real time and at a low cost. P2P transactions are possible, without the need to go through third-party platforms, transaction data will be permanently stored in the blockchain system, the transaction would be irrevocable once the transaction is reached.
Likelib is a blockchain underlying system that provides various types of business applications.
Likelib provides an ecosystem that has easy-to-use interface and access to all functions. With Likelib, developers can build, publish, distribute, and monetize applications using systems such as custom blockchains, smart contracts, cloud storage and compute nodes.
In the technical idea of LikeLib blockchain team, LikeLib combines the essence of the existing high-quality blockchain technology to build a more efficient, secure and scalable credit value chain ecosystem. A DApp is made up of smart contracts and client-end code. LikeLib is committed to creating diversified, decentralized application services that adapt to business scenarios in different industries, enabling ordinary users to access and build applications faster and easier.
In the future, digital information can be added to the LikeLib blockchain.
As long as you can enter the chain, information property rights can be clarified and protection conditions can be set. Trading contracts can be automatically initiated and enforced without worrying about the implementation of trust verification and trust implementation, because LikeLib blockchain of Heshu can help you achieve it. Moreover, trust is built on the blockchain, rather than by a single organization, so that credibility can be cross-validated and supervised by multiple parties. This is an important manifestation of the decentralization and deintermediation of blockchains.
The most popular explanation for the blockchain is as follows:
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