What is The Blockchain Information Exchange Process?

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Blockchain always has great security under the transparent structure of the distributed ledger that the whole network participates in, all historical data on the blockchain cannot be tampered with. Therefore, the blockchain has broad application prospects in information fairness, ownership certification, data storage, etc. It also attracts many users and organizations to link their own information with the block on the blockchain. Similarly, since Bitcoin is the most mature and most widely used blockchain, all information storage and verification functions related to the blockchain are implemented by using the Bitcoin system as an anchor blockchain.

When Nakamoto developed the Bitcoin system, he determined many rules of the Bitcoin system. He only supported a single native digital asset to be transmitted on his system. He used a scripting language, and his information exchange was based on transaction payment data. Mainly, and in order to improve the information transfer efficiency of Bitcoin, in the rules of the Bitcoin system, restrictions are imposed on the writing of text data through the block, for example, the written information can only be stored in the blockchain, info. In the file, the size cannot exceed 40 bytes.

Bitcoin can write a small amount of text data in the blockchain, but it is limited by the bitcoin system in terms of the size of the information, and if you want to save pictures, videos or other large files to the Bitcoin block. In the chain, an additional mechanism is needed and cannot be carried out directly.

At this stage, the communication with the Bitcoin blockchain can be divided into two types: one is to use the method above(3rd paragraph). First store the source file on a server such as cloud storage, and then calculate the source file, and write the final Merkle root to Among the blocks, because the Merkle root can satisfy the limitation of the length of the written text in the Bitcoin block.

The Antpool, one of the three largest bitcoin mining pools in China, launched a signature auction on its website, which is to use the historical data reliability of the Bitcoin block. After the user pays, some specific text information is written to the bit, among the blocks.
Using the rigid nature of the blockchain to store information in the blockchain, this practice is limited by the rules of the block itself, and it is still difficult to widely use large-volume files. Therefore, the most important information in the block is the communication which mainly based on the information of the transaction, and the purpose is to promote the completeness and confirmation of the information of the transaction.

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