With the increase in data breaches, the need for secure data storage has never been more urgent. Blockchain technology offers a solution to this problem, providing unparalleled data security and privacy.
Blockchain
Embracing blockchain seems to have become the mainstream of the industry nowadays. Both entrepreneurs and Internet giants have started to extend their development tentacles to this industry that is going to bring disruptive development to traditional industries.
The core of the sharing economy is sharing-based transactions, and blockchain is the decentralized way to achieve the security and transparency of transactions.
The application scope of blockchain technology continues to expand, from the field of digital currency, to the trading of financial derivatives, risk management, to supply chain finance and other fields, all have a wide range of application prospects.
The first application of blockchain is Bitcoin. Blockchain has become the promoter of "decentralized currency Internet" by providing power for cryptocurrency. By providing transparency, accountability, immutability and security, the blockchain soon triggered an influx of more cryptocurrencies. Today, we have more than 10000 different cryptocurrencies in circulation.
Blockchain technology has a broad application prospect as it can solve the problems of traceability, managing identity and ownership disputes in the supply chain.
The decentralized, consensus-driven and lack-of-trust nature of blockchains makes them inherently resilient to attacks.
Standard explanation: "Blockchain is a new application mode of distributed data storage, point-to-point transmission, consensus mechanism, encryption algorithm and other computer technologies."
Simple understanding: "Blockchain is essentially a decentralized distributed database."
Speaking of consensus mechanism, in fact, he is a mode of verification and confirmation of the transaction, he is mainly through the vote of the special nodes to complete the confirmation, in general, if for a transaction, a number of interests of unrelated nodes can reach a consensus, then we will be defaulted to the whole network can also reach a consensus.
The public chain Polygon has more daily active users than Ether, and its overall market capitalization has exceeded the $10 billion mark, and there are three main reasons behind its current success.