What are the core technologies of blockchain technology?

　　Firstly, we can look at the official explanation of blockchain technology. In a narrow sense, blockchain is a chain-like data structure that combines data blocks in chronological order and is guaranteed to be immutable and non-forgable by cryptographic methods, which is a distributed ledger.

　　Broadly speaking, blockchain technology is a new type of distributed infrastructure and computing paradigm that uses blockchain data structures to verify and store data, distributed node consensus algorithms to generate and update data, cryptographic methods to ensure the security of data transmission and access, and smart contracts composed of automated script code to program and operate data.

　　It is possible that everyone knows that blockchain technology is an independent underlying architecture that emerged from the Bitcoin system. In terms of architectural model, it is a set of distributed ledgers, and naturally, ledgers are used for accounting.

　　In blockchain technology, in order to generate accounting records, there must be transactions and flows of funds. Therefore, in the earliest blockchain technology, there were corresponding encrypted currencies as means of circulation for their main networks. The circulation and transaction records of encrypted currencies between various accounts on the main network of blockchain technology will be recorded on the main network.

　　Different from other transaction record databases, the transaction records on the main network of blockchain technology are recorded on all the block nodes of the main network (that is, all the data blocks), which is also known as the principle of decentralization. That is to say, on the blockchain technology, there is no central database to store all the records. Each block on the chain has all the transaction data of the entire chain, which means that each data block is the center.

　　Another characteristic of blockchain technology is its immutability, because every transaction on the blockchain is recorded in all the blocks of the chain, so no single data block can alter the records. Even if you change it, the other data blocks will also record the real data, and each set of data can be traced back to the time it first appeared.

　　Due to the characteristics of blockchain technology, after the birth of Bitcoin, blockchain has also received a lot of attention. Many people also want to use blockchain technology to create a decentralized, traceable, and unchangeable data, thereby ensuring the credibility of the data.

　　However, blockchain technology also faces many challenges, such as a single application scenario, uneditable original error data, irrecoverable when hackers steal currency, etc. What is blockchain technology? What are the core components of blockchain technology?

　　What is blockchain technology? What are the core components of blockchain technology?

　　What is blockchain technology:

　　Blockchain is a new application model of computer technology, including distributed data storage, point-to-point transmission, consensus mechanism, encryption algorithm, etc. The so-called consensus mechanism is a mathematical algorithm that enables different nodes in the blockchain system to establish trust and obtain rights and interests.

　　Blockchain (Blockchain) is an important concept of Bitcoin, which is essentially a decentralized database and also serves as the underlying technology of Bitcoin. The blockchain is a series of data blocks generated by cryptography methods and associated with each other, each containing information about a Bitcoin network transaction, used to verify the validity (anti-counterfeiting) of the information and generate the next block.

　　The core components of blockchain technology:

　　The blockchain mainly solves the trust and security problems of transactions, so it proposes four technological innovations to address this issue:

　　The first one is called the distributed ledger, which means that the transaction accounting is completed by multiple nodes distributed in different places, and each node records a complete account. Therefore, they can all participate in supervising the legality of transactions and can also jointly provide evidence for them.

　　Different from traditional distributed storage, the uniqueness of blockchain’s distributed storage is mainly reflected in two aspects: First, each node of the blockchain stores complete data in a block chain structure, while traditional distributed storage generally divides data into multiple parts according to certain rules for storage. Second, each node’s storage on the blockchain is independent and equal in status, relying on the consensus mechanism to ensure consistency, while traditional distributed storage generally synchronizes data to other backup nodes through a central node. [8]

　　No single node can record the ledger data independently, thus avoiding the possibility of a single accountant being controlled or bribed to record false accounts. Also, due to the sufficient number of accounting nodes, theoretically speaking, unless all nodes are destroyed, the accounts will not be lost, thus ensuring the security of the account data.

　　The second one is called asymmetric encryption and authorization technologylottery tutorial，We need you. The transaction information stored on the blockchain is public, but the account identity information is highly encrypted, and it can only be accessed with the authorization of the data owner, thus ensuring the security of the data and the privacy of individuals.

　　The third one is called the consensus mechanism, which is how all accounting nodes reach a consensus on the validity of a record, to recognize its validity. This is both a recognition means and a means to prevent tampering.

　　The consensus mechanism of blockchain has the characteristics of ‘majority rules’ and ‘equality for all’. ‘Majority rules’ does not necessarily refer to the number of nodes, but can also be the computing power, equity, or other quantifiable features that computers can compare. ‘Equality for all’ means that when nodes meet the conditions, all nodes have the right to prioritize the proposal of consensus results, and after being directly recognized by other nodes, they may eventually become the final consensus result. [8]

　　Taking Bitcoin as an example, it uses the proof of work mechanism. Only when more than 51% of the accounting nodes of the entire network are controlled, it is possible to forge a record that does not exist. When there are enough nodes joining the blockchain, this is basically impossible, thus eliminating the possibility of fraud.

　　The last technical feature is called smart contract. Smart contracts can automatically execute predefined rules and terms based on these credible and unalterable data. Taking insurance as an example, if everyone’s information (including medical information and information about risk occurrence) is real and credible, it is easy to carry out automated claims in some standardized insurance products.

　　In the daily business of insurance companies, although transactions are not as frequent as in the banking and securities industries, the dependency on credible data is increasing. Therefore, the author believes that using blockchain technology, from the perspective of data management, can effectively help insurance companies improve their risk management capabilities. Specifically, it mainly includes the risk management of the insured and the risk supervision of insurance companies.

　　What is the core layer of blockchain technology?

　　Chongqing Jinfanwo Analysis: The consensus mechanism is the core of blockchain technology, which largely determines the degree of mutual trust between nodes in the entire blockchain system, as well as the trust level of other users in the data on the blockchain.

　　What is the core of blockchain technology?

　　Chongqing Jinfanwo Analysis: Blockchain technology is composed of three core technologies: consensus mechanism, joint defense mechanism, and distributed storage.

　　The three core technologies of blockchain are supported by machine trust, which means that through network technology, the difficulties of transaction point-to-point, decentralization, unalterable record information, irreversible transactions, and information encryption have been overcome.

　　What are the advantages of blockchain technology? What are the classifications of blockchain technology?

　　The development of blockchain technology has become increasingly vibrant with the continuous expansion of its applications. This powerful driving force from various industry demands has led to the rapid changes in blockchain technology, making the achievements of various industries more and more eye-catching. From professional technology to resources, they are constantly concentrating on this industry, thus pushing the development of blockchain technology into a brand new stage, and the impact brought by this development of blockchain technology has also attracted much attention.

　　When talking about blockchain technology, Bitcoin cannot be omitted. Many people know that electronic currency Bitcoin is not issued by a specific monetary institution, but rather produced through a large amount of computation by a specific algorithm. In fact, the core that truly supports Bitcoin is blockchain technology.

　　How does Bitcoin, which is invisible and intangible, operate through blockchain technology? The interpretation spread in the industry is: blockchain can be regarded as a technical solution for collectively maintaining a reliable database through ‘decentralization’ and ‘trustless’ methods. In simple terms, this technology can be understood as a technology where all participants keep accounts, while in the blockchain technology system, everyone can participate in keeping accounts and jointly confirm the authenticity of the records.

　　Through this technology, even without a neutral third-party institution, mutually distrustful parties can achieve cooperation. In short, blockchain is similar to a ‘machine for creating trust.’ BuBi Company is a leading domestic blockchain service provider, has made many breakthroughs in the blockchain technology platform, can meet the scenarios of tens of millions of users, and has the ability to quickly build upper-level application business.

　　The blockchain technology adopted by all parties for recording and storing information uses a decentralized distributed structure, which saves a lot of intermediary costs and can better ensure data security; at the same time, it has an unchangeable timestamp, which can effectively solve problems such as data tracking and information anti-forgery.

　　Will it become the next风口 in Internet finance?

　　Although blockchain appeared with Bitcoin, the derived value of this technology has exceeded lottery and How to find it. BuBi Blockchain focuses on the innovation of blockchain technology and products, has many core technologies, and has developed its own blockchain service platform. With decentralized trust as the core, it is committed to creating an open value circulation network, allowing digital assets to flow freely. What BuBi wants to do is a new technology and product – to realize true value circulation, so that the Internet can reach a new height. If this technology is applied, there can be no central institution during the transfer of assets, and direct asset transfer between us can be realized.

　　In the current international financial market, the central banks of the United States and Switzerland, as well as some insurance and futures companies, are all competing to develop blockchain technology. Fang Liang introduced that in the Internet finance industry, blockchain technology will first affect financial infrastructure such as payment systems, securities settlement systems, and transaction databases; subsequently, the technology will also expand to general financial business, such as credit systems and anti-money laundering.

　　Li Yan said, ‘The payment and settlement system in the financial field will evolve towards a decentralized trend, and the electronic ledger supported by blockchain technology is a reliable system that is free of errors and tamper-proof, which has a profound impact on payment, settlement, transactions, and ownership confirmation.’

　　Therefore, industry experts believe that blockchain technology may be the next风口 in the Internet finance industryonline casino planThe latest plan. As the degree of interconnection between all things deepens, Yang Tao, assistant director of the Institute of Finance, Chinese Academy of Social Sciences, also said that blockchain will enable all individuals to become important nodes in the allocation of financial resources, and will also promote the improvement of existing financial system rules, and build a shared and win-win financial development ecosystem.

　　“Blockchain technology has a wide range of applications in the big data era.” Li Yan frankly said that at present

　　For example, the healthcare industry has greatly benefited from blockchain technology. In reality, the leakage of patients’ private information occurs from time to time, and the centralized database or filing cabinet management of medical departments is no longer the optimal choice. Medical institutions are using blockchain technology to achieve the confidentiality of patients’ private information.

　　In addition, blockchain technology also has significant importance in the legal field. There are often situations where it is difficult to prove responsibility in civil areas, but blockchain technology can record each step and help judicial authorities identify specific responsible parties.

　　“Especially in the field of assets, whether it is tangible assets such as real estate, cars, or intangible assets such as health and reputation, this technology can be used to complete registration, transactions, and tracking. It can be said that blockchain technology will be useful in any field where there is a lack of trust in production and life.”

　　The development of blockchain technology has also brought about changes in the operational concepts of various industries. New technologies and new ideas have promoted new developments in various industries, and this driving force has a huge impact on society and promotes economic activities. Many new industry phenomena will occur one after another, and the public is looking forward to this new technology being used in various industries to better benefit all industries.

　　What is blockchain technology, what does blockchain technology mean

　　So-called blockchain technology, also known as distributed ledger technology, is a type of internet database technology characterized by decentralization, openness, and transparency, allowing everyone to participate in the recording of the database.

　　To put it in simple terms: if we assume that the database is a ledger, reading and writing to the database can be seen as a form of accounting. The principle of blockchain technology is to find the fastest and best person to keep the books within a certain period of time, and then have this person record the information, and then send this page of the ledger to all other people in the system. This is also equivalent to changing all the records in the database and sending them to all other nodes on the network, so blockchain technology is also known as distributed ledger (distributed ledger).

　　What is the core of the Jinfuwu blockchain technology?

　　The core technologies of the Jinfuwu blockchain technology analyzed by Chongqing Jinfuwu are as follows:

　　Distributed ledger technology, asymmetric encryption technology, and smart contracts.

　　What is the core of the Jinfuwu blockchain technology?

　　The core of blockchain lies in the fact that it stores all information in independent personal computer networks, making it a decentralized and distributed structure.

　　This means that the system does not belong to a single main control company or individual, but rather it is accessible and can be operated by everyone.

　　What are the core functions of Everyone Chain blockchain technology?

　　I specially searched for information to answer you! Everyone Chain Blockchain Service is to enable users to quickly build their own IT infrastructure and blockchain services on a flexible and open cloud platform. Using BaaS can greatly reduce the cost of implementing blockchain underlying technology, simplify the construction and operation and maintenance of blockchain, and meet the personalized needs of users in various industries and fields, delivering customized BaaS in one-stop and quick delivery. Hope to be adopted

　　What is blockchain technology?

　　Blockchain has gone crazy, but you know nothing about it!

　　Blockchain is a distributed database system involving different nodes and is an open ledger system (ledger).

　　It is composed of a series of data blocks or data packets generated by cryptographic methods, i.e., blocks (block), and an automatic timestamp is加盖 on each block of data information, thus calculating a data encryption value, i.e., the hash (hash).

　　Blockchain technology is essentially a distributed accounting technology. It allows everyone to have an instant and synchronized ledger, and every transaction that occurs in the entire network will have tens of thousands of backups and be recorded synchronously. When malicious actors try to tamper with the ledger data, they must change the ledger in the hands of the majority to achieve their goal.

　　What are the three core technologies of blockchain?

　　Introduction to the 7 core technologies of blockchain operation on January 15, 2018

　　1. Blockchain Linking

　　As the name implies, blockchain is a chain composed of individual blocks. Each block is divided into two parts: the block header and the block body (including transaction data). The block header includes the hash (PrevHash) value of the previous block used to link the blocks (also known as the hash value) and the random number (nonce) used to calculate the mining difficulty. The hash value of the previous block is actually the hash value of the previous block header, and the rules for calculating the random number determine which miner can obtain the power to record the block.

　　2. Consensus Mechanism

　　Blockchain was born with Bitcoin and is the fundamental technical architecture of Bitcoin. Blockchain can be understood as a decentralized accounting system based on the Internet. Systems like Bitcoin, which are decentralized lottery and How to find it, require the consistency of accounting among various honest nodes without a central node, which needs blockchain to complete. Therefore, the core of blockchain technology is the consensus mechanism among individuals without a central control and without a basis of trust in each other on issues such as the legality of transactions.

　　The consensus mechanism of blockchain currently mainly has 4 types: PoW, PoS, DPoS, and distributed consensus algorithms.

　　3. Unlock Script

　　Scripts are an important technology on the blockchain for achieving automatic verification and execution of contracts. In a strict sense, each output of every transaction does not point to an address, but to a script. A script is similar to a set of rules that constrain how the recipient can spend the locked assets on the output.

　　The legality verification of transactions also depends on scripts. Currently, it depends on two types of scripts: locking scripts and unlocking scripts. The locking script is the condition added to the output transaction, realized by a script language, located in the output of the transaction. The unlocking script corresponds to the locking script, and only when the conditions required by the locking script are met can the corresponding assets be spent, located in the input of the transaction. Through the script language, many flexible conditions can be expressed. The explanation script is similar to the ‘virtual machine’ in our programming field, which runs distributedly on each node of the blockchain network.

　　4. Transaction rules

　　Blockchain transactions are the basic units that constitute a block and are the actual effective content recorded by the blockchain. A blockchain transaction can be a transfer, the deployment of smart contracts, or other transactions.

　　In the case of Bitcoin, a transaction refers to a single payment transfer. Its transaction rules are as follows:

　　1) The input and output of the transaction cannot be empty.

　　2) If the corresponding UTXO output of each input in the transaction can be found in the current transaction pool, then reject the transaction. Because the current transaction pool is the transaction that has not been recorded in the blockchain, and each input of the transaction should come from confirmed UTXO. If it is found in the current transaction pool, it is a double-spending transaction.

　　3) Each input in the transaction must correspond to an output that is a UTXO.sports betting secrets and The latest strategy

　　4) Each input unlocking script (unlocking) must be jointly verified with the corresponding output locking script to ensure the compliance of the transaction.

　　5. Transaction priority

　　The priority of blockchain transactions is determined by the blockchain protocol rules. For Bitcoin, the order in which transactions are included in a block is determined by the time the transaction is broadcast to the network and the size of the transaction amount. As the time the transaction is broadcast to the network increases, the chain age of the transaction increases, and the priority of the transaction is raised, eventually being included in a block. For Ethereum, the priority of transactions also relates to the transaction fee the publisher is willing to pay; the higher the transaction fee the publisher is willing to pay, the higher the priority of the transaction to be included in a block.

　　6. Merkle proof

　　The original application of Merkle proof is the Bitcoin system (Bitcoin), which was described and created by Satoshi Nakamoto in 2009. The Bitcoin blockchain uses Merkle proof to store transactions in each block, making it impossible to tamper with transactions and easy to verify whether a transaction is included in a specific block.

　　7. RLP

　　RLP (Recursive Length Prefix, Recursive Length Prefix encoding) is a major encoding method for object serialization in Ethereum, which aims to encode the serialization of arbitrary nested binary data. What is the core technology of the blockchain?

　　Core technology composition of blockchain: Whether it is a public chain or a consortium chain, at least four modules are required: P2P

　　Network protocols, distributed consistency algorithms (consensus mechanisms), encryption signature algorithms, account and storage models. This is the core technology of blockchain, for detailed content, please refer to relevant books on this aspect. With the passage of time, what is the core of the blockchain economy?

　　Since the birth of Bitcoin, more than 1600 types of Online casino and How to find it have emerged globally, forming a vast industrial chain ecosystem around the generation, storage, and transaction of Online casino and How to find it . However, on the whole, the industry is still in its infancy and has a long way to go before reaching the true value application area.

　　The core of the blockchain economy lies in the reconstruction of business logic and organizational form, therefore it is necessary to obtain application instances in multiple industries to demonstrate its value. This article will explore the business model of blockchain application in various industries from the perspective of the combination of blockchain and industry needs.

　　Firstly, the core of blockchain is to solve the problem of credit:

　　Credit is the foundation of all commercial activities and financelottery method and What is it. The United States has implemented verifiable identity recognition since 2011, while China has realized controllable information dissemination through real-name registrationlottery online website and What is it. The significance of blockchain lies in the first time establishing decentralized trust at the technical level, realizing a completely distributed credit system.

　　Secondly, blockchain solves the problem of value exchange:

　　Traditional networks can realize point-to-point transmission of information, but cannot realize point-to-point transmission of value. Because information is allowed to be copied, while value must be entitled and have uniqueness, it is necessary to rely on a centralized institution to achieve value transfer. Blockchain perfectly solves this problem, providing a method to realize point-to-point value transfer, where the network is responsible for accounting without relying on any centralized institution. Therefore, blockchain is expected to become the infrastructure for building a new type of financial system and the cornerstone of the future value Internet.

　　Blockchain application

　　Currently, the application of blockchain mainly has two models:

　　1) Native blockchain applications: Directly based on decentralized blockchain technology to realize value transfer and transaction applications, such as lottery and How to find it ;

　　2) ‘Blockchain+’ model: Combining traditional scenarios with the underlying blockchain protocol to improve efficiency and reduce costs. It is expected that the application of blockchain in various industries will mainly adopt the second model.

　　Blockchain has five core attributes, namely: transaction attribute (value attribute), evidence attribute, trust attribute, intelligent attribute, and traceability attribute. When these core attributes are combined with the needs of the industry, they solve the pain points of the industry and become the business model of blockchain application in various industries.

　　区块链+银行

　　Blockchain + Bank

　　1. Cross-border Payment

　　The role of blockchain:

　　Cross-border payment has long been a pain point in the banking industry. Traditional cross-border payment methods include two categories: first, online payment, including electronic account payment and international credit card payment, suitable for retail small amounts; second, bank remittance model, suitable for large transactions; both have problems such as long settlement cycle, high fees, and low transaction transparency. Especially in recent years, with the rise of cross-border e-commerce, convenient, quick, secure, and low-cost cross-border payment has become an urgent need in the industry.

　　The deintermediation and transaction transparency of blockchain shorten the payment cycle, reduce fees, and increase transaction transparency without the participation of third-party payment institutions. For example, in December 2017, China Merchants Bank jointly with Wing Lung Bank and Wing Lung Shenzhen Branch successfully realized cross-border RMB remittances between the three parties using blockchain technology. The clearing process is secure, efficient, and fast, greatly enhancing customer experience.

　　2. Supply Chain Finance

　　The role of blockchain:

　　The pain points in this field are long financing cycle and high fees. With the core enterprise system of the supply chain as the center, it is difficult for third-party credit enhancement institutions to authenticate the authenticity of various related certificates in the supply chain, causing long manual review time and high financing costs.

　　Blockchain introduces consensus mechanism, existence proof, tamper-proof, and traceable characteristics into supply chain finance, without the need for a third-party credit enhancement institution to authenticate the authenticity of various related certificates in the supply chain, thereby reducing financing costs and shortening the financing cycle. For example, in April 2017, listed company Yijian shares and IBM China Research Institute jointly released the blockchain supply chain financial service system ‘Yijian Block’, which mainly promotes the medical scenario. To date, more than 30 medical distribution enterprises have successfully registered on ‘Yijian Block’, and the number of transactions has reached nearly 8,000, with the total amount of investment exceeding 100 million yuan.

　　3. Digital Bills

　　The role of blockchain:

　　The pain points in the digital bill industry lie in the long-existing problems such as ‘false bills’ and ‘one ticket sold to many’, which bring risks to the bill financing business of the banking industry.

　　Blockchain + Securities. The existence proof and the tamper-proof characteristics of blockchain effectively solve the problem of false digital bills; at the same time, blockchain solves the double spending problem, which can avoid ‘one ticket sold to many’. For example, Shenzhen Blockchain Financial Services Co., Ltd. issued the Bill Chain product, providing bill financing services based on blockchain to meet the financing needs of small and medium-sized enterprises. The cooperative banks include Ganzhou Bank, Guiyang Bank, Suzhou Bank, Shizuishan Bank, Langfang Bank, Wuhai Bank, Jilin Jiutai Rural Commercial Bank, Yaodu Rural Commercial Bank, Shenzhen Rural Industry Bank, Weifang Bank, and Central Plains Bank, etc. In addition, Zhejiang Commercial Bank, JD Finance, Hang Seng Electronics, HNA, and others are also verifying the blockchain digital bill service.

　　1. Asset Securitization

　　Asset securitization is to obtain financing in the present with the future income as guarantee. The pain points in this field are: many participants, many operational links, low transaction transparency, asymmetric information, and the authenticity of underlying assets cannot be guaranteed.

　　The role of blockchain:

　　Blockchain introduces properties such as existence proof, unchangeability, and consensus mechanism for asset securitization, which can monitor the real situation of assets in real time and solve the trust problem of various institutions in the transaction chain. Various types of assets such as equity, bonds, bills, revenue certificates, warehouse receipts, etc. can be integrated into the blockchain to become on-chain digital assets, improving the efficiency of asset circulation and reducing costs. For example, in May 2017, Baidu Finance, in cooperation with partners such as BQ Thousand Leasing and Huaneng Trust, jointly issued an ABS project supported by blockchain technology with a issuance size of 4.24 billion yuan.

　　Blockchain + Insurance

　　1, Insurance business

　　The insurance industry has problems such as information asymmetry and a lack of trust between customers and insurance institutions: users find it difficult to choose insurance products suitable for themselves, while insurance institutions face the risk of insurance fraud.

　　The role of blockchain:

　　The decentralized, open and transparent, and traceable characteristics of blockchain provide a good communication channel between insurance institutions and users; insurance standard information is managed uniformly on the blockchain and cannot be tampered with, which helps insurance institutions avoid insurance fraud risks; at the same time, smart contracts can improve work efficiency and reduce costs. For example, the French insurance giant AXA is using the Ethereum public blockchain to provide automatic flight delay compensation for aviation passengers. If the flight is delayed for more than 2 hours, the ‘smart contract’ insurance product will automatically compensate the passengers.

　　2, Credit management

　　The pain point in this field lies in the limited data collection channels of credit institutions, the lack of data sharing, which makes it difficult to accurately characterize the credit status of individuals or institutions; in addition, there are also issues such as how to ensure user privacy during the data collection process.

　　The role of blockchain:

　　Blockchain has the characteristics of trustless, consensus, and unchangeable, which ensures on the technical level that limited and controllable credit data sharing and verification can be realized on the basis of effective protection of user privacy. For example, China Ping An’s blockchain credit business has been launched and is in operation. In addition, domestic start-up companies such as Shanghai JuZhen, LinkEye, and BuBi Blockchain are also exploring joint credit and secure storage and other aspects.

　　As a fundamental technology, blockchain has great application value in many industries with distributed processing, point-to-point transactions, and rapid establishment of trust relationships, its core is to solve the problem of credit and realize the point-to-point transmission of value. Therefore, it is considered to be the cornerstone of the future value Internet.

　　The core of the blockchain business model lies in using the innovative attributes introduced by blockchain to combine with traditional industry applications, to achieve the reconstruction of business logic, in order to create new application scenarios or improve efficiency and reduce costs.

　　Blockchain will also extend to all fields of social life: Blockchain solves the problems of management, trading, and transfer of digital assets, and therefore will play an important role in the wave of asset digitization, such as supply chain management, data services, asset management, public services, the Internet of Things, and other applications are gradually landing in various fields, ‘Blockchain+’ is becoming a reality. How to make money with blockchain and how to make money with blockchain

　　Blockchain is a technology based on code, mainly used to encrypt lottery and How to find it, using distributed technology to strengthen the application of lottery and How to find it on the blockchain. It is an application in the software aspect, but it has huge use in lottery and How to find it. Therefore, making money with blockchain is to apply blockchain technology to the tools for making money, which is equivalent to making money with blockchain. So, how does blockchain make money? Since 2018, Bitcoin has been very popular, even entering the sights of the general public. Bitcoin is using blockchain to make money. There are many specific ways to make money with blockchain, as shown below:

　　1. Trading digital currencies: For example, Bitcoin is one type of trading digital currencies;

　　2. Promotion for commission: Promote blockchain, and if the promoted users make transactions, then

　　In the blockchain field, there is a core proposition about the ‘impossible triangle’, which are security, performance, and decentralization. This proposition is the fundamental evolution of blockchain technology. Whether it is Bitcoin, Ethereum, or the rapidly developing consortium chains, they are essentially making trade-offs among the three elements mentioned above.

　　With Ethereum’s core status among blockchain developers confirmed, performance has gradually become a bottleneck in its development. Therefore, in the visible 2022, the improvement of performance and efficiency will be a long-term and key issue.

　　Based on the Ethereum ecosystem, to improve performance within the constraints of the ‘impossible triangle’, the current path is already clear. The first is at the Layer1 level, which means other public chains should share the data pressure of Ethereum.

　　One of the main trends in 2021 was the increase in the use of Layer 1, an area currently dominated by Solana, Avalanche, Terra, and Binance Smart Chain, each with a rapidly growing ecosystem and a value exceeding $100 billion.

　　The second is Layer2, based on the Ethereum mainnet, but the settlement is transferred to the second-layer network, thereby improving efficiency. This is also the direction in which Ethereum is striving. Layer2 is usually called rollups because they ‘aggregate’ or bundle transactions together and execute them in a new environment before sending updated transaction data back to Ethereum.

　　The most critical data verification link in blockchain, Layer2 currently has two technical solutions, one named ‘Optimistic rollups’, and the other named ‘ZK Rollups’. Both of these technical routes have teams developing corresponding networks, with ecosystem support, such as Arbitrum choosing ‘Optimistic rollups’ and dYdX choosing ‘ZK Rollups’.

　　Between Layer 1 and Layer 2, there is also a solution called ‘sidechain’, which is partially compatible with the Ethereum mainnet but does not belong to Layer 2. They are specifically used to handle the excess capacity of Ethereum, rather than competing with the entire Ethereum, and are hosted in a complementary manner for Ethereum applications.

　　Starting from the most active DeFi users at present, according to the data statistics of DeFi Lama, the locked-up amount of DeFi on Ethereum has exceeded 100 billion US dollars, and other public chains such as BSC, Solana, Avalanche have also attracted nearly 49 billion US dollars of funds, becoming a very active financial scene.

　　Although many public chains have large-scale data, different chains are like data islands, and assets on different chains cannot be freely exchanged. In addition, many emerging public chains are not developing as well as Ethereum, lacking many infrastructure facilities, such as stablecoins, NFT games, etc.

　　Therefore, it is necessary to introduce assets from other chains through cross-chain into their own public chain. Among the commonly used cross-chain methods at present, in addition to cross-chain withdrawal through centralized institutions such as exchanges and wallets, the most common is various decentralized cross-chain asset bridges.

　　For cross-chain bridges, the most important issue is how to reach a consensus, which is largely related to the security of investors’ entrusted assets. At present, the cross-chain bridge of centralized exchanges is the most convenient to use for users. However, the cross-chain bridge of centralized exchanges has the problem of a single point of failure. In addition, the current cross-chain bridges are gradually developing towards a non-custodial direction in order to further ensure the security of users’ assets.

　　The full name of DAO is ‘Decentralized Autonomous Organization’, which is a form of organization that tries to break away from the traditional hierarchical management model and achieve autonomous operation through blockchain technology.

　　Decentralized Autonomous Organizations (DAO) can achieve global coordination based on blockchain governance. DAOs can be used for many purposes, including managing the operation and capital of blockchain projects (MakerDAO), managing investment capital (The LAO), managing the use of game assets (YGG DAO), coordinating cultural groups (Friends With Benefits), or coordinating the purchase of assets (Constitution DAO).

　　The number of DAOs collected by deepdao has reached 187, with a total managed asset exceeding 12 billion US dollars, covering members over 1.6 million. Although this is not a large number in the blockchain field, institutions including Sequoia Capital have begun to pay attention to this new term.

　　The market value of cryptocurrencies officially broke through $2 trillion in 2021 and has now reached a scale of $2.5 trillion, up 175% from the beginning of the year. Along with the explosive growth of market value, financing in the crypto field has also soared rapidly. According to statistics, there were 1529 rounds of primary market financing in the crypto industry in 2021, with a total amount of approximately $32.6 billion, an increase of an astonishing 814.2% year-on-year.

　　However, equity financing in the crypto field is different from other fields. Under the ‘VIE’ structure, the most important capital exit channel for traditional VCs is the company’s listing on the secondary market for an IPO. But the blockchain field has a new financing method, ICO (prohibited in China), and the key difference of this decentralized financing method is that users can participate in the growth of the community at an earlier stage, while in the traditional venture capital model, only after the company is listed on the secondary market can ordinary investors have the opportunity to share the company’s growth dividends.

　　In the crypto field, the concept of ‘company’ has been weakened. Due to the existence of ‘Web3’ and ‘DAO’, the community and organizations are more frequently mentioned, and users naturally have a sense of distrust towards centralized platforms.

　　In the past two weeks, the most popular project in the crypto community is named ‘OpenDao’, which is a project imitating the leading NFT trading platform ‘OpenSea’. The reason for its popularity comes from the dissatisfaction of crypto players with ‘OpenSea’, as it has recently been reported that ‘OpenSea’ is preparing for a new round of financing and an IPO. However, NFT enthusiasts do not want ‘OpenSea’ to become a monopoly platform like current internet giants, so ‘OpenDao’ has proposed the concept of decentralization and has launched airdrops to all ‘OpenSea’ users.

　　Moreover, at the end of 2021, there was a debate in the crypto community about ‘Web3’, including Tesla Chairman Elon Musk and former Twitter CEO Jack Dorsey pointing the finger at venture capital institutions in the crypto finance industry during the debate, believing that VCs are taking too much profit.

　　In 2021, an investment institution emerged in the form of ‘DAO’, which includes influential investors in the community who are deeply rooted in the technical field. The projects they incubate even outperform those of some traditional VCs.

　　Blockchain technology is constantly evolving and growing to meet the needs of the financial market and the internet, and to provide continuous digital solutions. By integrating blockchain technology into Web3 technology, we are developing decentralized finance (DeFi) services and decentralized applications (DApp) to enhance the digital ecosystem.

　　Experts predict that by integrating blockchain technology and solutions, banks can save up to $12 billion even more each year. The United Nations also uses blockchain technology to address issues related to human rights violations, fund international humanitarian development, and promote innovative eco-friendly blockchain ecosystems.

　　One of the challenges of blockchain development trends is that these trends are fleeting because the industry is constantly evolving. Therefore, some enterprises and developers often have doubts about the development of a certain blockchain project. However, after diligent research and analysis, we have found that the following four projects have the potential to become “evergreen” blockchain development trends. More importantly, these four projects are actively providing blockchain solutions for developers in the decentralized finance and decentralized application industries.

　　1

　　Blockchain applications in enterprises

　　Developers who want to create high-quality decentralized applications can build scalable applications that meet market demands through Jelurida’s flagship blockchain solutions, “Future Coin (NXT) and ADO Coin (Ardor)”. To put it simply, Jelurida is striving to seamlessly connect real-world companies and enterprises with the blockchain industry. Imagine, isn’t a blockchain without real-world application still a blockchain?

　　Future coin is the world’s first open-source blockchain platform that completely relies on Proof of Stake (PoS) consensus. Proof of Stake is an algorithm based on Byzantine Fault Tolerance that can eliminate the computational waste of the Proof of Work (PoW) model and improve transaction security.

　　Developers can use the future coin framework to build and save custom blockchain solutions and create reliable exchanges for tokens. On the other hand, the subchain feature of ADO coin allows organizations to build permissionless blockchain digital solutions and run smart contracts.

　　Through the use of these solutions and the Ignis coin, Jelurida has achieved some success. Unlike some blockchain companies, Jelurida has achieved all its development milestones and is now conducting business in several countries across three continents.

　　Currently, Jelurida has many real-world projects running on its platform, one of which is Cycle4Value, an eco-friendly gamification system that can control traffic conditions and improve public health.

　　2

　　Development of gaming and non-fungible tokens

　　Enjin is another delightful advancement for blockchain developers in the gaming and non-fungible token industry, providing creative developers with the opportunity to create the next generation of decentralized software and applications. Enjin supports real-world projects in the fields of medicine, politics, finance, and entertainment, and is proud to provide blockchain solutions to millions of users. The project has a market capacity of nearly 45 million, with over 2 million wallets installed and more than 1 billion assets created.

　　One of the real-world projects built on Enjin, “Go! By Health Hero”, is a solution based on future coins that can promote the development of projects and services related to health, and it is currently quite popular. Other projects include Microsoft’s Azure Heroes, “The Lost Relics”, and “The Decaying Ages” for gamers.

　　Currently, Enjin is deeply collaborating with the emerging future currency industry, and it is expected that as the industry further develops in the future, Enjin will play an important role in it.

　　3

　　Speed and data security

　　When a developer wants to create decentralized blockchain services with scalability and reliability, speed and security are the basic factors they need to consider. Elrond has achieved this, being able to process over 10,000 transactions per second, which is 100 times faster than the combined processing speed of Bitcoin and Ethereum.

　　These are some ‘evergreen’ trends that we need in the coming years.

　　Elrond adopts an adaptive state sharding mechanism that supports rapid verification and transaction processing. Like Jelurida, Elrond uses proof of stake to save resources and improve transaction security.

　　Elrond has over 90,000 active accounts and a large number of development projects, so it is not surprising that its ecosystem valuation has soared from 10 million to 500 million US dollars. Elrond operates in approximately 30 countries, with more than 115 companies and startups among its clients.

　　4

　　Environmental Protection System

　　Cudos is a broadband blockchain platform that provides power to blockchain projects by integrating the computing resources of developers and users worldwide. As a network for developers to share and sell common resources, the platform can lead blockchain projects with reliability and scalability on the internet. Developers can build and launch decentralized applications, mine cryptocurrencies, and share network fees.

　　Game and non-fungible token developers and markets, including other related blockchain businesses, can use the Cudos framework to create high-quality and secure decentralized solutions and products. The Cudos ecosystem is committed to providing developers with more affordable, convenient, and reusable eco-friendly blockchain solutions; offering organizations cloud-based blockchain solutions; and introducing innovative solutions into the Web3 framework, allowing developers to create the next generation of decentralized applications.

　　Cudos recently partnered with ClimateTrade, a carbon credit company based on blockchain, to offset its carbon dioxide emissions. Currently, the entire world is affected by the negative impacts of climate change, and both enterprises and individuals have the responsibility to quickly mitigate and ultimately reverse this impact.

　　”

　　Conclusion

　　Blockchain platforms dedicated to the next generation of blockchain services and businesses should take measures to address environmental pollution issues, thereby creating an eco-friendly environment for blockchain digital solutions.

　　The contact number for the National Energy Information Platform is 010-65367702, email: hz@people-energy.com.cn, address: No. 2 Jintai West Road, Chaoyang District, Beijing.