Overview of the Basic Principles of Blockchain

Abstract

In the Internet, the authenticity of data between computer nodes is difficult to be guaranteed. However, as the underlying implementation of bitcoin, blockchain adopts decentralized and distributed ledger to allow false transactions and data tampering, and ultimately provides a reliable and trustworthy solution for bitcoin transactions on the unreliable and untrusted Internet. This paper introduces the basic principles of blockchain from the aspects of the relationship between blockchain and bitcoin, two mathematical algorithms involved in blockchain, the logical structure of blockchain, the types of blockchain, and the application of blockchain. This paper explains the core concepts of blockchain, such as decentralization, trustlessness, mining, proof of work, points out several problems that need to be paid attention to in the practical development of blockchain application, and puts forward the approach of integrating blockchain and traditional database to solve the practical application.