What is Blocklink (meaning of Blocklink)?

What is Blocklink? Blocklink is a mechanism for sharing data with other networks, allowing transactions between different nodes to occur at different times. Specifically, when a participant wants to send a payment, they receive a message containing transaction information and query this information through a block explorer. If the message is incorrect or tampered with, the system will execute this request.

The characteristics of Blocklink include: (1) No need to use separate resources to store, maintain, and verify transactions (such as Bitcoin), (2) Only need to deposit some or all cryptocurrencies into the blockchain to receive rewards, (3) Achieve multi-party consensus and privacy protection, (4) Multiple nodes without trust, (5) Security level, (6) Sign certain transactions at regular intervals, and (7) Avoid security risks caused by lost passwords as everything happens locally. (Deep Chain Finance)

Meaning of Blocklink

Blocklink refers to storing data in the same place using “encryption” technology. When the transactions in the blockchain are packaged into a chain, there is a state called “BlockChainLink,” which has nothing to do with transactions on mainstream digital asset networks such as Bitcoin and Ethereum. Unexpected situations can cause system resource wastage or loss of mining power, resulting in value loss.

Due to the properties of immutability and traceability of the blockchain, it possesses the basic conditions to become a distributed ledger. How does Blocklink achieve this balance and scalability? What is the meaning of Blocklink? What is the use of Blocklink? Why is “sharding” necessary? The purpose of Blocklink is to solve the current consensus algorithm problem and involve more people in the blockchain ecosystem. For the general public, “sharding” means ensuring that there are no gaps between nodes. In other words, for higher efficiency, this process needs to be smooth, avoiding more security risks.

From the current development situation, the entire blockchain industry is growing rapidly. However, due to the high cognitive threshold for most people, many projects fail to meet these requirements. Therefore, we see that the code of many projects is audited by third-party audit teams.

However, these developers do not actually care about the complexity of this issue because they only want to understand new data models and existing technical details. This leads to a lot of wrong information entering the blockchain. This makes it possible for multiple vulnerabilities to occur in blockchain applications, such as defects in smart contracts that attackers can exploit to steal private keys and gain profits, and so on.

Although most blockchain applications are built around a single problem, it is often difficult to land in practical scenarios, especially in the construction of blockchain infrastructure, lacking sufficient security guarantees. This is also one of the main challenges faced by the blockchain field.

For example, the performance bottleneck of underlying blockchain technology makes it difficult for blockchain applications to land, and there are also problems with centralized institutions’ infringement of user privacy. On the one hand, this is controlled by centralized operators, and on the other hand, centralized organizations have access to asymmetric information of users.

This is the so-called “multi-level classification.”

Each study considers a new or multiple scientific principles, that is, based on mathematical laws, establish a completely new system architecture to reduce the risks of traditional database systems.

In the traditional database architecture, only specific content related to basic knowledge and business logic is considered, without paying much attention to basic capabilities, but focusing on understanding and dealing with all relevant information. On top of the blockchain, it is also necessary to innovate in other aspects, including introducing decentralized mechanisms. The blockchain itself is not isolated but a collection of different functions, such as peer-to-peer communication, cross-client messaging, and side chain bridging, among others.