What is a blockchain? Can you talk about it in a popular form

The blockchain originated from Bitcoin in Satoshi Nakamoto. As the underlying technology of Bitcoin, it is essentially a decentralized database. It refers to the technical scheme of collectively maintaining a reliable database through decentralization and distrust.

Blockchain technology is a technical scheme that stores, verifies, transmits and communicates network data through its own distributed nodes without relying on the third party. Therefore, from the perspective of financial accounting, some people regard blockchain technology as a distributed, open and decentralized large-scale network bookkeeping book. Anyone can use the same technical standards to add their own information at any time, extend the blockchain, and continuously meet the data entry needs brought about by various needs.

In a popular way, blockchain technology refers to a way that all people participate in bookkeeping. There is a database behind all systems. You can think of the database as a big ledger. Then it becomes very important who will keep this account book. At present, whose system is responsible for bookkeeping, WeChat's account book is kept by Tencent, and Taobao's account book is kept by Ali. But now in the blockchain system, everyone in the system can have the opportunity to participate in bookkeeping. If there is any data change in a certain period of time, everyone in the system can come to keep an account. The system will judge the fastest and best person who keeps an account during this period, write the contents he recorded into the account book, and send the contents of the account book to all others in the system for backup. In this way, everyone in the system has a complete account book. In this way, we call it blockchain technology.

Blockchain technology is considered to be the most subversive technological innovation since the invention of the Internet. It relies on clever distributed algorithms of cryptography and mathematics, and on the Internet where no trust relationship can be established, participants can reach * * * knowledge without the intervention of any third-party center, thus solving the problem of reliable transmission of trust and value at a very low cost.

the bitcoin peer-to-peer network stores all the transaction history in the "blockchain". The blockchain continues to be extended, and once new blocks are added to the blockchain, they will not be removed. Blockchain is actually a group of scattered client nodes and a distributed database composed of all participants, which is a record of all bitcoin transaction history. After the transaction data of Bitcoin is packaged into a "data block" or a "block", the transaction is initially confirmed. When the block is linked to the previous block, the transaction will be further confirmed. After being confirmed by six blocks in a row, the transaction was basically confirmed irreversibly.

the blockchain is public on the network and can be queried in every offline bitcoin wallet data. The lightweight bitcoin wallet uses online confirmation, that is, blockchain data will not be downloaded to the device storage.

digital currency is easily regarded as a new currency by traditional financial institutions, but in fact, the significance and value of its underlying technology are far greater than its monetary attributes. Take Bitcoin as an example. Generally speaking, it is regarded as a peer-to-peer digital currency, but technically, it is actually a peer-to-peer decentralized network platform. Such a network platform relies on blockchain technology. Digital currency is a global peer-to-peer network platform based on blockchain technology. The application of blockchain in digital currency, represented by Bitcoin, is also called Blockchain 1.[1].