What is the development of the blockchain? Can it break through the financial sector?

Nowadays, the name of Bitcoin is all about the development of the blockchain chain. Of course, the blockchain "fire" is not for no reason, and it has the function of decentralized trading platform. Then today we will talk about several processes in the development of blockchain.

The development of the Internet is like building high-rise buildings in an endless way. As the development of high-rise buildings is getting higher and higher, the area of ​​each floor of the Internet is not big enough. Too many users make the environment crowded and not secret enough, which directly leads to many drawbacks. Appearance.

The blockchain is like building a huge open-air balcony on the high-rise building of the Internet. Because it is open-air, it is highly transparent and difficult to be controlled by a person or organization, which can reduce information leakage and information surplus. And so on. The balcony can be used as a foundation. People can build buildings on the foundation. Similarly, the blockchain is used as the underlying technology. We can also make full use of this technology in other fields.

The blockchain "fire" is not for no reason. We may not be able to achieve the fire, but it is necessary to talk about the development of the blockchain.

What is the development of the blockchain? Can it break through the financial sector?

Blockchain 1.0: Digital currency led by Bitcoin

Beijing once had a hotel that supported bitcoin checkout, someone bought a pizza with 20,000 bitcoins, someone invented the first bitcoin cash machine, someone set up a bitcoin trading platform, and someone used tens of thousands of dollars to do bitcoin trading. ......

The name of Bitcoin has risen, of course, and it is inevitable that there will be some unfortunate pasts behind its glory. For example, due to the bankruptcy of a bitcoin trading platform caused by the theft of Bitcoin, the financial scam caused by the prevalence of Bitcoin, of course, also includes a global outbreak of virus blackmail for Bitcoin...

The most important blockchain 1.0 is the application of digital currency represented by bitcoin, currency functions such as payment and circulation, and the function of decentralized trading platform.

The blockchain 1.0 represented by Bitcoin is currently controversial. First of all, it has the decentralization feature, which can be traded independently of third-party institutions to a certain extent, but also because of this, the virtual currency lacks relevant supervision. , ICO chaos is frequent; there is information on the blockchain that has been verified and added to it, this data will be stored permanently, not tampering, and anonymity, such data is very reliable Stable, but also because of its anonymity is easily used by illegal elements, such as money laundering.

Everything has two sides. Of course, the blockchain as a new technology is no exception. Uncontroversial things will not develop. In addition, the block size of Bitcoin cannot meet the increasingly high frequency of transactions, and the transaction and payment functions limited to digital currency also make blockchain technology unable to be popularized in daily life.

Just as these issues need to be resolved, the Ethereum, which joined the smart contract, appeared.

Blockchain 2.0: Smart Contracts

Parents give their children pocket money, hoping to meet the children's small needs, but they are afraid that children will develop bad habits of spending big money and big money. They are afraid that children will buy items that are not good for their body and mind. The behavior of children and the vision of parents seem to never agree. . How can we achieve "win-win"?

Parents and children can reach an agreement on pocket money and then establish a “pocket money contract” on Ethereum. When the child spends the pocket money in a place that violates the contract, it will be stopped by the contract and the “defective” will be Recorded on the case, so that the child's behavior only needs to be directly managed by the smart contract, no need for the third party's monitoring.

The smart contract is to digitize the paper contract and can be automatically executed by the computer. It has two functions at the same time: one is a contract generated by reality, and the other is a performer who does not need third parties, decentralized, fair, and super-powerful. .

Is this basically no need to worry about the blockchain 2.0 era is not very cool? The application of Blockchain 2.0 exceeds the digital currency and is optimized for a wider range of scenarios and processes in the financial sector. In the future, the blockchain will surely break through the financial shackles and be used in more industries.

Blockchain 3.0: Breaking through the financial sector, wetting other industries

Suppose one day you drive to work, just parked the car and found that the car is out of oil, and at this time you can't go to the gas station. At night, you are destined to work overtime until late. Do you want your car when you get off work? Already filled with oil waiting for you? This is not a dream, it can be realized in the blockchain 3.0 era. We have already said that the blockchain will be applied to various industries. This is what we call the blockchain 3.0 era.

The above events are the application of blockchain in intelligent IoT. People can build credit mechanisms and smart contracts on a distributed Internet of Things, so that their devices become smart devices. Because the blockchain will keep transaction records, people It is possible to supervise the management of smart devices through blockchains.

The blockchain can also automate the supply chain management. Every customer wants to know whether the goods they buy are safe enough. When using the blockchain solution, they can realize the automatic management of the supply chain. It can register each commodity. Everyone can go to the "big account book". For example, VeChain has been using blockchain technology to address product traceability and authenticity issues.

The blockchain can also “pseudo-seeking truth” to help the media industry fight against fake news. We are in the era of a big information explosion. How to distinguish the true and false information can be regarded as an issue of the times. According to a report on January 27, the Western media said that the latest report made predictions, and the cryptocurrency payment, purchase of works and content were gradually popularized. Direct payments, as well as public records of personal credit data, are part of the impact that blockchain technology will bring to the media industry.

Are we now in the blockchain 1.0 era? 2.0 era? Whether it is the 3.0 era, or a mixed era, these are not important. What is important is whether the blockchain can develop into the same bit of everyday life as the Internet, and it may soon be revealed. The answer to the topic of an era.

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