Overview
Blockchain technology has emerged as one of the most discussed topics across industries recently. Its popularity has surged to the extent that companies associated with blockchain have seen their stock prices skyrocket. Data reveals that by 2016, the largest global investments were blockchain-related, with amounts reaching $55 million and $60 million respectively.
Blockchain combines distributed data storage, peer-to-peer transmission, consensus mechanisms, and cryptographic algorithms into a novel application model. Bitcoin, developed on blockchain technology, along with smart contracts, enables the peer-to-peer transfer of digital assets beyond Bitcoin, making blockchain particularly noteworthy.
Why Blockchain Matters
If today's internet facilitates the peer-to-peer transfer of information via TCP/IP protocols, blockchain technology enables the peer-to-peer transfer of value. Simply put, blockchain is a decentralized, distributed ledger system where nodes do not need to trust each other. Transactions are linked through cryptographic algorithms, ensuring transparency, traceability, and immutability.
Industry Adoption
Major Chinese corporations have already begun integrating blockchain. For instance:
- Ant Group's blockchain-based spray paint technology in transportation helps eliminate fraudulent claims.
- Baidu combines finance, AI, and blockchain to address trust issues.
- Tencent is deeply researching blockchain, though no products have been launched yet.
The involvement of BAT (Baidu, Alibaba, Tencent) has bolstered confidence in blockchain, whether driven by its profit potential or its transformative impact on traditional industries.
What Is Blockchain?
Opinions vary—some see Bitcoin as a future global currency, others as a scam. Regardless, blockchain's potential as the cornerstone of the value internet is undeniable. To demystify blockchain, this book offers a comprehensive introduction, covering its definition, history, categories, features, mining principles, misconceptions, and applications.
👉 Discover how blockchain is revolutionizing industries
About the Author
Zhang Hao
- Founder of Long Theory
- Advocate of Dragon Culture
- Blockchain economic model designer
- Former CCTV producer and president of the World Chinese Cultural Exchange Federation
- Author of Long-style Wealth Creation Rules and Never Worry About Money Again
Zhang Hao predicts: The blockchain economy will change the world!
Table of Contents
Unveiling Blockchain
- What is blockchain?
- Fundamental principles
- Relationship with big data and cloud computing
- Consensus mechanisms: Pros and cons
- How beginners can learn blockchain
FAQs
Q: Is blockchain only about cryptocurrencies like Bitcoin?
A: No, blockchain has diverse applications beyond cryptocurrencies, including supply chain, healthcare, and finance.
Q: How secure is blockchain?
A: While highly secure due to cryptographic algorithms, no system is entirely immune to attacks.
Q: Can blockchain operate without decentralization?
A: Centralized blockchains exist but lose some benefits like trustless transactions.
👉 Explore blockchain's future potential
This book serves as an accessible primer for anyone curious about blockchain's fundamentals and its far-reaching implications.