What is the underlying protocol of blockchain (Blockchain Protocol Layer Architecture Diagram)
What is the underlying protocol of blockchain? The underlying protocol of block
What is the underlying protocol of blockchain? The underlying protocol of blockchain (Blockchain Core Protocol) refers to a new consensus mechanism that combines existing distributed ledger technology with other emerging technologies’ encryption algorithms. It can help traditional systems to efficiently and cost-effectively conduct transactions. The most common method in the Bitcoin network is to use smart contracts to realize the transfer, control, and management of a certain digital asset.
Usually, when a user creates a new account, a series of operations according to the account needs to be initiated to complete the registration process. However, if these rules are not followed, the user’s account will be restricted and cannot continue to use it. Therefore, when a user recharges to another account, they must confirm it once according to a preset time in order to receive the funds. And when a user sends a transaction, in order to ensure a smooth completion of the transaction, they must also pay the corresponding fees and comply with certain conditions in order to succeed. This method is called “off-chain contract” because it relies on centralized servers or intermediary institutions to verify the authenticity and validity of the information.
Blockchain Protocol Layer Architecture Diagram
The Blockchain Protocol Layer Architecture Diagram (Blockchain Protocol Module) is a set of protocols consisting of executable smart contracts, with decentralization and security, that can achieve on-chain and off-chain interactions. This model completes cross-chain communication by storing assets in different application scenarios.
This article mainly analyzes the blockchain system based on the protocol layer architecture design framework: consensus mechanism, block confirmation mechanism, and cryptocurrency wallet, etc.
The following are the architecture diagrams of each protocol layer:
1. The consensus mechanism of the blockchain system is mainly based on POW, and its core functions include account verification, account signing, digital identity authentication, and account balance management, etc. It supports operations such as smart contract invocation, payment clearing, supports transfers and currency transfers on private chains, supports token transfer and remittance between multi-chain networks, supports public chain ecosystem governance, uses P2SH technology to ensure information security, and achieves cross-chain interoperability. 2. The virtual machine (Virtual Machines) of the blockchain system is used for writing programs or running code in computer languages, supports hardware/software-driven secure computing and machine learning.
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