What is Blockchain and Blockchain Application in 3 Future Trends

Blockchain is a facility that contains data, and data is contained in small blocks that link together. So Blockchain is also called a blockchain.

What is a blockchain? In the future, the development trend of Blockchain like. Blockchain shifts into business operations, how life is.

Many people believe that Blockchain, on the one hand, is the global internet network of the era that can become the foundation of society. But on the other hand, it will bring a lot of social problems and challenges to supervision and management. Today I will share with you new development trends of Blockchain application technology.

1, Current Status and Blockchain Development Issues

To explain the Blockchain, first, think that it should be an easy-to-understand computer science definition. Since Blockchain is growing globally, its nature is a distributed database and cannot be contradicted.

The blockchain is A system of information A, B, C … where people in the company (corporation), including partners, customers can view the data if they have the key (secret password). Information A, B, C … can be added by someone who has access to the Blockchain system, and information A, B, C … when added cannot be changed. This definition is narrower, and if you want to understand the broad definition, after understanding the following analysis, you will be at the Blockchain.

Database technology and civilized development of the internet network have a close relationship with each other. In the 1990s, Yahoo was the earliest e-news portal, itself a two-way data warehouse.

Along with the emergence of many Web sites, Google has researched and invented a kind of inverted index guide database to help us look up and check vast sources of information. vast of humanity.

Then, together with the research and introduction of the relational database model of many famous enterprises in the world, these databases can be calculated and stored accurately, ensuring the degree of up to 100% accurate and called relational database.

A relational database is one of the key technical technologies of the current financial information and e-commerce system.

By the time when the internet network was growing modern, electronic products such as Facebook were born, many Facebook users have hundreds of thousands or even millions of Fans, about storage technology. People invented a new database called kv (Key-Value) database, which has this new database to have Facebook.

So, how will the short video clips with huge numbers like on YouTube be stored?

People have invented a file database. Thanks to this new file database, it is possible to store such a large number of videos and clips. Blockchain is a new type of database, it is a distributed database and cannot be contradicted.

Retention emplacements Blockchain now is really just beginning, there exist many problems such as more people reflect on performance, its features are still relatively slow. The expansion of Blockchain technology is constantly evolving for many years.

On the other hand, it is about safety issues and risks of the stasis ng d emplacements ng Blockchain. In the world, there have been many steals of Bitcoin, plus Blockchain has not combined with customer identification photos, one of the key factors in the supervision and management of global finance. Currently, many Blockchain products have not used real identity policy, causing many difficulties in monitoring and management.

This technology is actually no different from the internet network in 2000 on the Internet with Model.

The 28 KB model is extremely slow on the network, so many technical staff around the globe have tried to solve this problem.

Especially starting from 2017, we have seen businesses such as Google, Facebook … are investing a large resource to solve the problems that Blockchain is facing such as performance issues, features. security and management monitoring …

2, New Development Status of Blockchain Technology Globally

Next, I would like to introduce tended Using application Blockchain the latest globally.

First, we see that Blockchain has a lot of new designs, from string structure towards graph structure, we call it DAG (Non-periodic Direct Graph), with this structure of storage. The massive data of Blockchain technology does not need to be unique but can share and use their shared storage and storage technology on a global computer system.

There have been successful Blockchain products worldwide, so in the future, Blockchain technology may not be a chain but a network or a drawing. So the drawing will also be one of the basic data structures of computer science.

As computing platform Ethereum recent technique is one of the representatives for many applications tempering a Blockchain in the financial sector, it has carried out dispersion technology.

This distributed technology can divide a large number of transactions on the internet network distributed to different regions, and then calculate at the same node after the completion will merge to the master link.

So with Ethereum, it is now possible to implement a large-scale distributed technology within the next 1 or 2 years. Of course, there will be many new Blockchain models such as Blockchain 4.0 technology to implement this distributed technology. Therefore, distributed technology will help to improve the processing of Blockchain.

The third is DHT, a distributed hash table technology (  distributed hash table). Currently there are many Blockchain network node designs to store a large amount of data, but it will face many challenges, in fact, personal phones, computer memory, and bandwidth are quite cumbersome so This distributed hash table technology can make network nodes only need to store a small amount of data, people can through shared network storage to make Blockchain get more advanced features.

Regarding security issues, because quantum computers are growing rapidly in recent years, a large number of Blockchain’s infrastructure technologies are now based on cryptographic technology.

The quantum technology of quantum computers is currently developing very large, people also designed a lot of encryption technology based on this quantum computer. So coding and decoding are always the relationships between contradiction and conflict.

Many quantum cryptographic operations have been applied in some Blockchain content, so it is possible to secure the security of Blockchain cryptography, without worrying about it being affected by quantitative computers. death.

3, Perform Technology Upgrades and Being Able To monitor and manage Blockchain applications.

In fact, until now, Blockchain still has many big problems, often appearing segmentation.

Because Blockchain technology is itself a distributed network, there is no central network node to control it, to upgrade the network requires consent from the majority of network nodes, this is a long-running process.

Early computers have come up with a lot of trustworthy facilities, roughly any of the Blockchain network nodes after applying a trustworthy base module, if it can’t be upgraded, it can’t become a node. The network of Blockchain or it can be said that its performance is lower.

Therefore, it can be said that the reliability base can make distributed network technology easier to upgrade and replace.

Regarding the true identity of Blockchain, the Massachusetts Institute of Technology (MIT) in the US has a Blockchain lab. They offer a lot of plans for true identity technology.

For example, the current Blockchain is the point of confrontation, so many countries like Korea have all electronic certificates when the transaction will use the true identity on the electronic certificate to sign. Of course, there are also simpler options that we can get the IP address of the entire device to be part of the Blockchain storage transaction.

If so, the transactions of all Blockchain applications can implement true identity policy.

So this is a true identity policy of choice, we can build a true identity blockchain network and also build an anonymous blockchain network.

Super key is also an important advance of the current Blockchain application, with a distributed network, how do we need to monitor and manage it? How to control anymore? Cryptography, which we call multi-signatures.

We design different Blockchain networks, if the Blockchain application in the bank, we can design a super-level key, all the network node keys must be with the super-key. can produce a wallet.

So this super-key can be in the hands of a supervisor, can also be in the hands of a certain organization, they can conduct limited control of Blockchain.

For example, data on Blockchain cannot be erased, so the super-level key can actually make organizational units have the power to modify the distributed network.

4, Misperception About Blockchain

According to many documents about Blockchain today, it is happening a lot of debate around the world, in fact, it has a very big relationship with language, Bitcoin is translated into money. Actually, at the beginning of bitcoin, it was called Bitgold.

Its nature is not a currency, but it is like virtual currency, a type of credit in a special internet group, some people like it, others don’t like it, it is just a kind of digital asset.

The centralization is also a misconception, I think that its nature is an intermediary link. In fact, we can see that, with the current experimental product of Blockchain, Bitcoin has developed globally for 9 years, its users are distributed in more than 100 countries worldwide.

So the first network designer (currently unknown) has let Satoshi Nakamoto design a set of rules and rules that have been in operation for 9 years without anyone being able to change it.

The original rule designer was the biggest center, this technology actually ensured the design center rules were done in absolute precision in every corner. Therefore, the link center is probably the most accurate description of the current characteristics of Blockchain technology.

Blockchain in the future is likely to appear another development trend. Blockchain has a multistage structure, first, the device, phone, personal computers will become its lowest infrastructure equipment.

So a large amount of storage, computing, phone and computer bandwidth will be abandoned, will build an IPSF file system, now the technology is developing very fast, all the above devices The whole world will be linked by a network, the tiered application only needs to be stored on that network and it will be secured through encryption technology, we don’t need to care about this data. Where can it be stored?

Build a ledger and virtual machine on IPSF for smart contracts. Install application types, link games … on the ledger and virtual machine. At the same time, monitoring management can be through technology to develop Blockchain into a controllable Blockchain.

The global affiliate network is growing rapidly today, receiving great investment from businesses and government oversight agencies of many countries around the world. It can be indeterminate technology.

With such a technology we need to capture, control and turn it into a powerful and controllable technology. If in the future when our Blockchain applications are used in the US or public Blockchain networks designed by international businesses, this will bring many disadvantages in financial security and many ways. other.

Therefore, this application technology needs to be developed and adopted to turn it into a controlled technology, as well as a distribution network and a social infrastructure.

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