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Explain blockchain in one sentence

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Release: 2024-02-29 10:20:53
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This is how I understand blockchain: there are many balloons strung together on a chain.

Explain blockchain in one sentence

#This is how I understand blockchain: there are many balloons strung on a chain.

The balloon represents the transaction data contained in each block itself

The most important thing is the chain. Each chain link is connected to the previous chain link - from above The random hash value data of a block, and of course the timestamp

My personal understanding of the decentralization of the blockchain can be roughly understood as this. For example, in a family of five, each person has a ledger (decentralized). Yesterday, my family bought a TV set. It will be recorded in their respective account books that "the TV set was purchased on a certain day of a certain month and a certain year, and the expenditure was 3,000 yuan." This record will be added to everyone's account book. If there is a person Or two people privately tampered with the ledgers in their own hands and "corrupted" through tampering. That would not work. There are also three ledgers whose records have no corresponding records and do not exceed half of the total, so they will not be recognized. Applied to the world of Bitcoin, this is an attack that is greater than 51% of the total computing power of the entire network - a person or institution controls more than 51% of the nodes of the entire network, but this is almost impossible to achieve.

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