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