AICHAIN White Paper

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AICHAIN

Whitepaper

AICHAIN

The background of AICHAIN

1.1 The raising of Blockchain technology

The blockchain technology contains the following advantages:

Decentralized

Open Source

Blockchain is one of the mostly discussed

technology nowadays as a potential

successor of the internet. The technology

combines a set of existing technology,

including distributed data storage, peer-to-

peer transmission, consensus mechanism

and encryption algorithm, to introduce of

a new way of data formation, transmis­

sion, storage and usage. The breakthroughs

brought by blockchain technology has the

potential to fundamentally change the

existing economic and financial mode of

operation and may even lead to a new tech­

nological innovation and industrial change

on a global scale.

A blockchain is a tamper-proof and decen­

tralized data structure that joins data

blocks chronologically. The nature of the

blockchain is a distributed ledger system.

Encrypted digital assets, such as Bitcoin, is

the digital currency of this system. In other

words, blockchain serves as the underlying

technology for digital assets and for a

distributed, encrypted and credible

accounting and clearing system.

Decentralization is the fundamental characteristic of the blockchain. In a traditional

centralized network system, the destruction of a central node can paralyze the entire

system. However, for the blockchain network, due to the use of distributed ledger

and storage, there is no centralized hardware or institution, so rights and obligations

of any node are equal. Therefore, data blocks in the system will be maintained and

protected by all the notes in the system, and attacking a node cannot destroy the

entire network.

Blockchain adapts an open source system, which promotes communication, partici­

pation, and development. Except for the private information of transaction parties,

blockchain publics all its data and codes, so that anyone can query blockchain data

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