cool hit counter What exactly is blockchain? Read the comic in seconds!_Intefrankly

What exactly is blockchain? Read the comic in seconds!

Source: haogetalks

Author: Cheng Hao Cartoon Character

Blockchain technology refers to a way for all people to participate in bookkeeping. All systems have a database behind them, and you can think of the database as being just one big ledger. Currently it is each keeping their own books.

With no centralized intermediaries in place, having everything run automatically through a predetermined process can not only greatly reduce costs, but also increase efficiency. And since everyone has the same ledger, it ensures that the ledger recording process is open and transparent.

Blockchain technology is the underlying technology of Bitcoin. Bitcoin has operated very stably for years without any centralized institution operating and managing it, without any problems, so some people noticed its underlying technology and extracted the Bitcoin technology in abstraction and called it blockchain technology, or distributed ledger technology.

According to a report released by Santander, Spain's largest bank, roughly $20 billion in costs could be saved annually around 2020 if all banks around the world used blockchain technology internally. Such data is sufficient to illustrate the huge changes and breakthroughs that "blockchain" has brought to the traditional financial sector.

Cloud computing is often defined as the delivery of dynamic easily scalable and often virtualized resources over the Internet, but it is often a centralized organization that provides the cloud computing platform. Whereas a network composed of blockchains is generally without a specific institution, so blockchains are closer to the definition of a distributed computing system and are a type of distributed computing.

Q-coin is a centralized electronic currency, including the total amount, the way of issuance is controlled by Tencent. And the total amount of Bitcoin, the way it is issued is pre-set by the program and the cryptographic algorithm and then run on multiple nodes around the world, which no one person or institution can modify and is not controlled by any single person or institution. Q-coins are generally referred to as electronic money, or corporate tokens. Call Bitcoin a digital currency or crypto-digital currency.


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