Xu Mingxing: Blockchain technology is not as complicated as imagined

On June 4th, Xu Jingxing, founder and CEO of OK Group, pointed out in a public speech recently that the blockchain is a form of managing public accounts, which is a new type of database technology. This speech also pointed out the truth of blockchain technology and made it popular for many people. Our Internet services today still require a centralized server to provide various technical support. For example, if we want to buy a product on Taobao, we need to pay the next order to submit the data to Taobao. After the goods are confirmed to be paid, the merchant can actually collect the money. Xu Mingxing explained that blockchain technology is not so complicated. If A wants to buy a product with B, he only needs to prepare a transaction information and broadcast it throughout the blockchain network, and everyone can receive this information. In other words, this transaction information is public and can prevent tampering. Secondly, in order to be able to protect the transaction data is true and reliable, a group of people will compete for the right to package data in the form of “mining”, and then verify the authenticity of these data, and then permanently remain in the blockchain network.