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Blockchain was invented by Satoshi Nakamoto in 2008 to serve as a core technology for Bitcoin (Nakamoto, Bitcoin: a peer-to-peer electronic cash system (2008), https://bitcoin.org/bitcoin.pdf , online; 2008). It facilitates the process of recording transactions and tracking assets in a shared and immutable way, which consists of blocks that are securely linked together via cryptographic hashes. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data (generally represented as a Merkle tree, where data nodes are represented by leaves), and all of blocks are added to the chain after verification. Since each block contains information about the previous block, they effectively form a chain (compare linked list data structure), with each additional block linking to the ones before it. Consequently, blockchain transactions are irreversible. Once they are recorded, anyone cannot backdate, deny, or destroy the information stored in these blocks. In Bitcoin, the blockchain works in a hash-like way to timestamp blocks in a decentralized network without introducing a difficulty parameter for stability. The implementation of the blockchain into Bitcoin can also solve the double-spending problem while there is no need of a central authority or a central server. The blockchain has inspired many applications including public cryptocurrencies and other distributed management systems (Economist, The great chain of being sure about things. Tech. rep. (2015). https://www.economist.com/briefing/2015/10/31/the-great-chain-of-being-sure-about-things ; Times, A venture fund with plenty of virtual capital, but no capitalist. Tech. rep. (2016). https://www.nytimes.com/2016/05/22/business/dealbook/crypto-ether-bitcoin-currency.html ; Lunn, Blockchain may finally disrupt payments from micropayments to credit cards to swift. Tech. rep. (2018). https://dailyfintech.com/2018/02/10/bitcoin-will-finally-disrupt-the-credit-card-rails/ ; Narayanan et al., Bitcoin and cryptocurrency technologies - A comprehensive introduction. Princeton University Press (2016); Morris, Leaderless, blockchain-based venture capital fund raises $100 million, and counting. Tech. rep. (2016). https://fortune.com/2016/05/15/leaderless-blockchain-vc-fund/ ).

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Introduction

  • 章节

  • 发表日期：

    2025年

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  • Peng Jiang,
  • Liehuang Zhu

摘要

Blockchain was invented by Satoshi Nakamoto in 2008 to serve as a core technology for Bitcoin (Nakamoto, Bitcoin: a peer-to-peer electronic cash system (2008), https://bitcoin.org/bitcoin.pdf , online; 2008). It facilitates the process of recording transactions and tracking assets in a shared and immutable way, which consists of blocks that are securely linked together via cryptographic hashes. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data (generally represented as a Merkle tree, where data nodes are represented by leaves), and all of blocks are added to the chain after verification. Since each block contains information about the previous block, they effectively form a chain (compare linked list data structure), with each additional block linking to the ones before it. Consequently, blockchain transactions are irreversible. Once they are recorded, anyone cannot backdate, deny, or destroy the information stored in these blocks. In Bitcoin, the blockchain works in a hash-like way to timestamp blocks in a decentralized network without introducing a difficulty parameter for stability. The implementation of the blockchain into Bitcoin can also solve the double-spending problem while there is no need of a central authority or a central server. The blockchain has inspired many applications including public cryptocurrencies and other distributed management systems (Economist, The great chain of being sure about things. Tech. rep. (2015). https://www.economist.com/briefing/2015/10/31/the-great-chain-of-being-sure-about-things ; Times, A venture fund with plenty of virtual capital, but no capitalist. Tech. rep. (2016). https://www.nytimes.com/2016/05/22/business/dealbook/crypto-ether-bitcoin-currency.html ; Lunn, Blockchain may finally disrupt payments from micropayments to credit cards to swift. Tech. rep. (2018). https://dailyfintech.com/2018/02/10/bitcoin-will-finally-disrupt-the-credit-card-rails/ ; Narayanan et al., Bitcoin and cryptocurrency technologies - A comprehensive introduction. Princeton University Press (2016); Morris, Leaderless, blockchain-based venture capital fund raises $100 million, and counting. Tech. rep. (2016). https://fortune.com/2016/05/15/leaderless-blockchain-vc-fund/ ).