The nine laws of blockchain that chain people should know by heart

Every thing that exists in the world has its laws, Blockchain is certainly no exception。 There are nine laws about blockchain, What do you know about it??

❀ Blockchain Law I: Storage is all。

What does that mean?? In the world of blockchain, All assets of an individual are stored as blocks on distributed servers。 theoretically speaking, These assets belong to individuals。 this way, Make the ownership of assets individual, This is what makes many, if not all, rejoice。

❀ Blockchain Law No. 2: Data as an asset。

This is something we understand very well, Because the currency backed by the blockchain is a digital currency。 And the essence of digital currency is data。 Blockchain as a value network, The data in the chain is all there because of demand。

❀ Blockchain Law No. 3: Behavior as Mining。

What each person does on the blockchain, All seen as one mining move, Contribute energy to the community。 The act of mining is actually helping the blockchain keep score, Underpinning the reproduction of the blockchain ecosystem。

❀ Blockchain Law No. 4: Tokens as Rewards。

In the blockchain world, the earnings generated by mining are paid out in the form of rewards to individual accounts. This means that whenever your asset or action is created or circulated, it will be rewarded to your digital wallet in the form of cryptocurrency. This incentive mechanism is fragmented and seamless. Such a feature gives the value society the fullest imagination, and this feature is the reason for the blockchain climax.

❀ Blockchain Law No. 5: Passes as credits。

Token It appears as a technical term, Confused a lot of people outside the chain。 But in a real sense, antoken Represents a credit value, It is a priced credit note, free circulation。token It's a proof of interest, It states the responsibility of the subject and the attribution of its assets, Like your ID card.、 real estate、 the property market (e.g. houses)、 wages etc., It's all a kind of credit history of you in a certain vertical scenario。

❀ Blockchain Law No. 6: Code as Contract。

On the blockchain, Code instead of text, Becoming a new form of contract presentation, And it also automatically executes。 that is to say, Automatic generation of contracts in the blockchain space, If this is applied in real business, That would be a huge labor and material savings.。

❀ Blockchain Law No. 7: Nodes as Channels。

Each node is recorded synchronously as events occur, So each node is a collection and circulation point for data。 The technical term is called full channel fragmentation。

❀ Blockchain Law No. 8: Community as an Organization。 Blockchain is redefining organizational boundaries, What community are you in?, Will determine your organizational identity。

❀ Blockchain Law No. 9: Consensus is Law.

Blockchain is autonomous, We all know that., As long as it's something that everyone agrees on, Or maybe fifty-one percent of the nodes approve, Then the consensus is that everyone has to abide by。 What governs the behavior of community members is a compromised consensus, Recognition will be effective, If you object, you're out., If you embrace it, you will be rewarded, There are also penalties for violations。

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