What are the common myths about block chains?
Blockchain technology can be used not only for encrypting money, but also for identifying people, recording food resumes and other applications. But each new technology has a hype and reality level, and to de-centralize the ideal block chain, what are the common myths?
1、There is only one block chain.
When people see block chains in the media, they think there is only one block chain in the world. In fact, block chains are plural and not singular. Each block chain has different functional purposes. The block chain can be open or operated privately by enterprises or individuals.
2、Are block chains related to money?
Block chains did start with bitcoins as encrypted currencies, but the potential of block chains is not only in finance, but also in Smart Contracts, where the IOTA Foundation, in collaboration with the Taipei Municipal Government, is building services such as Tang, a distributed book technology.Le introduces identity recognition, electronic voting, smart city and other applications.
Any data can be recorded in distributed ledgers on block chains, and because Bitcoins are so well known, many people think that block chains are linked to money.
3、Exchange is black = block chain unsafe?
In January, Tokyo-based Coincheck’s $523 million new economy coin (NEM) disappeared, leaving many people with vivid memories. In the virtual currency world, everyone is anonymous, as long as they have a private key.Control of assets, many trading platforms will keep the private key for users, once its trading system is hacked, asset security is difficult to protect. However, the exchange is black block chain is not safe, because the exchange is not built on the block chain, the exchange website is black, in fact, with the general website is not too big black not too big.Same.
4、Only big companies can use block chains?
Small companies can also benefit from block chain technology as well as non-profit organizations. The advantage of block chain is that it can be scaled according to usage needs, so it can be used regardless of the size of the organization. For example, a startup, Ascribe, uses block-chaining technology to solve copyright problems in digital art.Recently, Jingdong (JD. com) has partnered with Australian beef producers HW Greenham & amp; Sons Pty Ltd. to develop a block chain platform that allows consumers to track the origin of each Angus beef piece in the block chain.
Ascribe-e1520848831522Ascribe, a start-up company, has used block chaining technology to solve the copyright problem of digital art works. (Source:Ascribe)
5、Are all block chains public?
Many well-known block chains are indeed public, but block chains can be public, semi-public, or completely private, or even create an undisclosed block chain over an open block chain. The difference between public and non-public is that objects can access data.
6、Smart contracts have legal effect?
Smart Contract is a kind of commitment defined in digital form, which allows both parties to execute the commitment agreement. The characteristic of Smart Contract is that the content of the contract is executed automatically by computer, which can avoid disputes caused by human factors. But intelligent contracts are made up of a series of codes, notAs a result, the intellectual contract has no legal effect. It is more a tool than a contract.
7、Is block chaining just a hype?
Block chains are still a very new technology. Although there has been a lot of negative news and controversy these days, it is not entirely fair to say that block chains are just hype. There is still a lot of potential for this technology to be realized. Mankind has gone through the space race, nuclear energy development, the Internet bubble, and now is facing the block chain revolution.Life, perhaps we should turn fear into understanding.