Wonderful blockchain technology to create secure and shared Internet of Things applications


To date, the reach of blockchain technology has extended from early financial transactions to all those requiring intermediary certification and is being used to accelerate the rollout of IoT Innovative Services. Source: Edelman

For more than a year, the "Blockchain," with the emergence of the FinTech spindle, has become a hot topic of discussion. Although the blockchain has clearly been linked to FinTech's application, in fact, The combination of blockchain and IoT is enough to stir up more exciting and innovative applications. Therefore, when discussing the safety of IoT, it is inevitable to explore the issue of blockchain security together.

According to IBM's blue point of view, there is an article on the blockchain, which states that FinTech has not only accelerated the pace of change in the financial services industry, but also played a key role in pushing the development of the Internet of Things. In the meantime, blockchain technology was the most influential one. WEF's more direct name blockchain technology was one of the potential technologies that led to the fourth industrial revolution.

Impact, Timing Since 2016, the blockchain has not only played an extremely important part in FinTech's theme, it has even taken the lead and has gradually become the hot topic of the seminar.

What is the blockchain? It is a rigorous encryption method evolved from the technology, through a complex set of public key and private key, the system will automatically through the blockchain network of financial affairs data, Respectively, delivered to each participant's hands, at the same time each participant, can only be modified for their own property.

In other words, once blockchain technology is in place, with a digital transaction recording system, businesses and consumers no longer need to trade through traditional financial intermediaries and can operate on faster, safer and lower cost Under the premise of property transactions, audits and supervision, this would have required 2 to 3 days to complete the payment and settlement operations can be completed within the same day.

Bitcoin takes the lead in practicing blockchain to drive financial transaction innovation

Speaking of blockchain, we usually think of bitcoin services, which is the earliest blockchain application. The so-called bitcoin, a new type of digital asset trading model, was first proposed by Japanese Satoshi Nakamoto in 2011 and derived from this concept as an open ledger to address the world's virtual currency has always been criticized Repeated deduction blind spots, but also for many users willing to contribute their own CPU computing power, with a set of special software to join the "digger" ranks, build a large number of digging miners to form a sufficient support for the development of bitcoin network structure, in the process Generate new currency, but also continue to spread trading activities in the network.

As for the blockchain, the bitcoin concept can also be used as a set of public accounts. Each node in the blockchain network has a complete account backup, and the account also covers all transactions since the birth of bitcoin Records, which contains a number of block records, each block corresponds to a part of the transaction, but also records the Hash value of the previous block, in Yan to form a chain of data structures.

Suppose a node wants to launch a transaction and will first broadcast the transaction to other nodes. At this time, all nodes will use a consensus algorithm to determine who can verify the transaction. Later, miners will help to wrap the transaction record into a brand new Of the block, and then sent to the blockchain, on behalf of the transaction has been completed, once the data is written into the blockchain, it can not be tampered with.

It is worth mentioning that, for each bitcoin account, the public key and the private key are all owned. When the transaction is started, the private key needs to be signed, and the miners check the seal with the public key. If the account that initiated the transaction has no Enough bitcoin, only need to backtrace the transaction records of the entire book, you can detect the abnormal behavior, and then cancel the transaction.

Strictly protect wallet.dat Beware of the loss of virtual currency assets

So, blockchain technology is there any security concerns? Of course there is, but it also has some trustworthy features. First, the good part, since the blockchain system always record all transactions of the participants by bookkeeping, which means that it is enough to subvert the layers of restrictions in the past, industries or units do confirm the transaction record, the participants may By sharing the system of books, seeing the transaction records that are authorized to view helps to speed up the transaction.

In addition, the blockchain system will execute trades according to the contractual agreement agreed between the parties to the transaction, so parties do not have to worry about the trading operation mechanism being in breach of the contract, and the transaction participants do not need to bind the personal data with the transaction information, and You can specify the transaction information that can be authorized to watch, to protect the privacy of traders.

Furthermore, as mentioned earlier, transaction information is signed using keys and helps to achieve full non-repudiation.

Talk about the bad part again. First of all, the most worrying part of the consensus algorithm adopted by the blockchain is the so-called "51% attack," meaning that if someone can grasp 51% of the computing power in the entire network, it is theoretically possible to rewrite Blockchain records, which led to the collapse of the system, but the risk of the larger the more unlikely the system will happen, just because hackers want to fall into the ranks of the world's largest data center, the probability is not large.

Second, you need to start with the details of the transaction process. Transaction participants want to join the operation of the blockchain network, the first step is to generate a pair of private key, public key and Blockchain Address, and then upload the public key and Blockchain Address to the blockchain network by broadcasting, and make a note to all other participants Remember, and then the public key and Blockchain Address into the wallet file (wallet.dat) is registered to complete.

Once the transaction is initiated, it must be signed by the holder's private key before it can be publicly verified and joined into the blockchain. The signature mechanism uses the ECDSA algorithm. Once the transaction information is added to the blockchain, It will become a fact that history can not be tampered with.

In summary, wallet.dat is the key file on which the key is stored, so in the past hackers intended to exploit malware to search and steal wallet.dat files or to copy and transmit everything in wallet.dat To the FTP server, once successful, a symbol of hackers access to the account has all the bitcoin access, the same as the bitcoin assets were looted, and technically claims no loss, can be described as light.

Therefore, how to properly protect the wallet.dat file is clearly intended to participate in blockchain transactions

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