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What is Blockchain in One Minute (Understanding Blockchain in One Day)

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What is Blockchain in One Minute? Understanding Blockchain in One DayEditor\’s n

What is Blockchain in One Minute (Understanding Blockchain in One Day)

What is Blockchain in One Minute?

Understanding Blockchain in One Day

Editor’s note: This article is from Chain Tower Think Tank (ID: liantazhiku), written by Chain Tower Analyst Team, authorized and published by the Planet Daily. Preface: Blockchain is a very promising technology, but it will inevitably face challenges and deficiencies in its development, such as whether the performance of blockchain is good enough, whether the transaction speed has a limit, etc… However, in order for blockchain to truly take off and maximize its value, the data security issue needs to be solved! Today, we will introduce a project called BlockChain.info (referred to as BCN).

This is a start-up company established in 2015, aiming to combine traditional internet business with digital asset economy and establish a new financial model to provide new financing methods for enterprises. It is based on the underlying protocol of distributed ledger technology to support various types of smart contract applications, which can be used for payment settlement, supply chain tracking, etc.

Currently, although BCN has successfully completed some development work, a consensus has not been reached on specific implementation scenarios, and there are also many incomplete parts. Therefore, through this platform, we hope to help more blockchain practitioners understand and master blockchain knowledge faster. Understanding what blockchain is in one hour? Can you figure out what blockchain is in one day? Simply put, let’s look at the basic principles of blockchain from three aspects. 1. Understand the basic concept of blockchain 2. Learn how to define blockchain 3. Interpret the Bitcoin whitepaper 4. Understand the basic knowledge of Bitcoin 5. Understand the blockchain in the cryptocurrency market 6. Finish reading the whitepaper 7. Understand what blockchain is 8. Know what you are doing, and it can all be understood, just ignore the Chinese translation if you don’t understand it. Below, we provide specific explanations in simple language.

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