What are the four core technologies of blockchain

The four core technologies of blockchain are point-to-point distributed technology, asymmetric encryption technology, hash algorithm, and consensus mechanism. Among them, point-to-point technology, also called peer-to-peer Internet technology, relies on the computing power and bandwidth of network participants, rather than concentrating reliance on a few servers.

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The four core technologies of blockchain are:

Point-to-point distributed technology (P2P)

Peer-to-peer technology (peer-to-peer, referred to as P2P) is also known as It is a peer-to-peer Internet technology that relies on the computing power and bandwidth of network participants, rather than concentrating the reliance on a few servers. P2P technology has obvious advantages. The distributed nature of a peer-to-peer network, which replicates data through multiple nodes, also increases reliability against failures. In a pure P2P network, nodes do not need to discover data through a central index server. In the latter case, there is no single point of failure for the system.

Asymmetric encryption technology

Asymmetric encryption (public key encryption) refers to the use of different keys in the two processes of encryption and decryption. In this encryption technology, each user has a pair of keys: a public key and a private key. The public key is used during encryption and the private key is used during decryption. The public key can be disclosed online, but the private key needs to be kept by the user. This resolves the security dangers of key sharing in symmetric encryption. Asymmetric encryption is more secure than symmetric encryption: both parties to the symmetric encryption communication use the same key. If one party's key is leaked, the entire communication will be cracked. Symmetric encryption uses a pair of keys, one pair of keys, one pair of keys, and the other pair of keys is made public. The keys are kept by themselves. There is no need to synchronize the keys before communication like symmetric encryption.

Hash algorithm

The hash algorithm is also called the hash algorithm, which reflects a binary value of any length into a short fixed-length binary value. This small binary value is called a hash Hope value. The principle is actually very simple, which is to convert transaction information into a fixed-length text string.

Consensus mechanism

Cryptocurrencies mostly adopt centralized block chain design, with nodes dispersed and parallel everywhere. The system must be designed to maintain the order and fairness of system operation, unify the block chain version, and encourage the provision of resources. Maintain the users of the blockchain and punish those who cause malicious harm. Such a system must use some method to prove who has obtained the packaging rights of the block chain (also called accounting rights) and can get the reward for packaging the block, or whoever intends to be harmed will be subject to certain penalties. This is Consensus mechanism. Generally speaking, if Chinese Weibo celebrities, American virtual currency players, African students, and European travelers don't know you, but they think you are a good person, they can basically judge that you are not bad.

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