What is the reason for the open chain structure (what does open chain mean)

What is the reason for open chain structure? In short, the blockchain of Bitcoin is built based on Ethereum technology. The block size of Bitcoin is limited to 32KB, so there are many public key pairs, and these private keys are called “keys”, which are generated by miners through verification transactions. If a user wants to use a new Cryptocurrency or digital asset for payment, he can use this encryption method to send payment; If a person wants to use their token for other purposes, they must first transfer the money to the exchange. This creates a layer of isolated, centrally controlled wallets and a non-existent system, resulting in the so-called “double signature”. Why did this happen? Because when the network fails, it can recover directly from the main network (for example, Bitcoin has begun to support Bitcoin Lightning Network), but it cannot solve the problem when it occurs. So the problem of Bitcoin being unable to process transactions and accessing the entire network is due to its security, and many transactions are affected by denial of service

What does open chain mean

Open chain refers to encrypting data from one blockchain to another public chain or operating in this way without a network.

. Simply put, it means packaging the data of a blockchain into a block and allowing everyone to see who the information in this area belongs to, thus achieving reliable transmission of information What is open source? Blockchain technology is a new form of Distributed database technology. It adopts a new consensus mechanism (Byzantine fault-tolerant algorithm). Bitcoin and Ethereum all use this new technology to ensure the security and privacy of data. But now some companies have started developing their own decentralized applications, such as Ren and EOS. At present, the most popular public chains in the market are Ethereum, Bitcoin Cash Cash and Litecoin, both of which launched similar products in 2017 The meaning of opening an account is to be able to send digital assets to others. When you want to transfer money, you need to send a small payment to another person, and you must also provide some funds because the user will not receive these funds themselves. If you want to transfer money, you don’t need to find any more institutions. That’s why many people are unwilling to keep their money in the bank So how do you ensure that your account can be securely stored? We can complete this process by creating an account. For example, if a friend wants to transfer 10 yuan to him on a certain day, he can use the amount of 1 yuan to withdraw it from his phone, and all the remaining money is deposited in the exchange. In this way, he doesn’t need to do a lot of handling fees like before. Of course, if you are an ordinary user, you can also do this For individuals, pioneering open source code is not an easy task, but it is an extremely important step for businesses. ‘Open’ means that the ownership ownership rights are infinitely extended and cannot be changed; And ‘permission’ means that all transaction records are public and tamperproof, and only authorized can they be modified. In addition, the concept of “shared rights” is completely different, as everyone has their own identity and can freely choose to participate.