What blockchain builds is the blockchain data structure (elements of blockchain composition).
What blockchain builds is the blockchain data structure? How does blockchain ac
What blockchain builds is the blockchain data structure? How does blockchain achieve data consistency, trustworthiness, and tamper resistance?
In traditional Internet, in order to enhance information security, we need to store and transmit a large amount of data. However, in blockchain, there may be a certain degree of information leakage from numerous nodes regarding a certain event, which leads to a decrease in the security of the entire network and even some attack behaviors.
So how does blockchain solve this problem? It mainly includes several aspects: firstly, ensuring consensus between the two parties of a transaction through consensus protocol; secondly, utilizing encryption algorithms to prevent single accounts from being hacked; thirdly, establishing trust relationships between transaction participants based on hash values to achieve decentralization. These are all supported by the technology system of Distributed Ledger Technology (DLT). Therefore, when it comes to blockchain, the following four capabilities must be possessed: 1. Providing a reliable and secure environment for blockchain; 2. Providing convenient solutions for developers and users of various types of applications; 3. Meeting the needs of different applications and various requirements.
Elements of Blockchain Composition
According to LongHash’s data, in the field of blockchain, its elements of composition are decentralized network, distributed ledger, and encrypted assets. Among them, decentralized protocol (DLT) is an important component of blockchain technology, which verifies every payment in each block by transferring the value of various transaction data to a common point – thereby eliminating the presence of intermediaries and improving efficiency. This provides a foundational layer for creating an efficient network to help achieve more effective transaction processing and ensure fairness. These digital assets are also known as “Tokens”.
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