> For the complete documentation index, see [llms.txt](https://bingstormais-organization.gitbook.io/product-docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://bingstormais-organization.gitbook.io/product-docs/bingstorm-ai-technology-center/basic-knowledge/blockchain-basics-preamble.md).

# Blockchain Basics - Preamble

Blockchain technology: In a narrow sense, the blockchain is a chained data structure that combines data blocks in a sequential manner in chronological order, and a non-tamperable and non-forgeable distributed ledger (distributed ledger) that is cryptographically guaranteed. database). Broadly speaking, blockchain technology uses block chain data structures to verify and store data, uses distributed node consensus algorithms to generate and update data, uses cryptography to ensure the security of data transmission and access, and uses automated scripts to A new distributed infrastructure and computing paradigm for programming and manipulating data through smart contracts composed of code.

In 2019, the McKinsey research report believed that the practical value of the blockchain is mainly reflected in the following three aspects: some specific scenes Blockchain is very suitable for some specific application scenarios, including data integration applications that track asset ownership and asset status (traceability). Insurance, supply chain, and capital markets can all find real use cases. digital value Blockchain is attractive to businesses that are strategically undergoing digital transformation. They see blockchain as a tool that embodies their ambitions, enabling them to achieve their goals of digitization, process simplification and collaboration. Create an innovative image In order to demonstrate their innovative capabilities to shareholders and competitors, some enterprises have chosen blockchain pilots, but have little desire to create commercial-grade applications. Blockchain applications such as customer loyalty, IoT, and voting basically fall into this category.

In 2019, the McKinsey research report believed that the practical value of the blockchain is mainly reflected in the following three aspects: some specific scenes Blockchain is very suitable for some specific application scenarios, including data integration applications that track asset ownership and asset status (traceability). Insurance, supply chain, and capital markets can all find real use cases. digital value Blockchain is attractive to businesses that are strategically undergoing digital transformation. They see blockchain as a tool that embodies their ambitions, enabling them to achieve their goals of digitization, process simplification and collaboration. Create an innovative image In order to demonstrate their innovative capabilities to shareholders and competitors, some enterprises have chosen blockchain pilots, but have little desire to create commercial-grade applications. Blockchain applications such as customer loyalty, IoT, and voting basically fall into this category.

From the birth of Bitcoin to the derivation of blockchain, the development of technology must be slow. How to use blockchain technology to promote technical finance is currently in full swing. For example, the recent popular Defi, stable currency pledge, Stacking All models are born because of the blockchain, and changes need to start from the bottom, so the role of blockchain technology in the future will become more important. Blockchain technology is no longer a pure technology, but an interdisciplinary and interdisciplinary compound cutting-edge technology: it includes distributed storage and codes are computers, P2P networks are sociology, encryption algorithms are mathematics, consensus and governance are Communication, smart contract is management, Token is economics, ico is finance... So the blockchain is really not something that an investor or a programmer can explain clearly.So the blockchain is really not something that an investor or a programmer can explain clearly.

So the blockchain is really not something that an investor or a programmer can explain clearly.

So far, neither the birth of Bitcoin nor the evolution of the blockchain can be made clear, because this is a product of the 21st century, and human beings are still exploring, and no one’s point of view is necessarily correct. We You can't apply the original concept to look at Bitcoin or the blockchain. Under a borderless thing, there are too many unknowns, and people with different cognitions see it differently. Therefore, the blockchain is not only a mysterious product but also It is an unknown product, waiting for us to explore.