What are the practical functions of blockchain technology?

The most widely used blockchain is still in the field of financial technology, such as digital asset trading. As a new underlying technology, blockchain is the technical realization of Bitcoin. The rapid application of blockchain technology also requires virtual currency. In the past, a large-scale economic scene required many people to trust each other and cooperate extensively, and it could only be solved in a centralized way, which was very inefficient. The emergence of blockchain technology has solved this problem and eliminated this center. An important reason why this center can be removed is that virtual currency provides an endogenous economic incentive mechanism for the blockchain, which gives people the motivation to join the economic activities after the blockchain transformation. Of course, the blockchain will have a wider and more mature application in the future. For example, last June165438+1October, State Grid submitted a patent application entitled "Blockchain Power Transaction Control Method and Device". This year, Xi 'an City Wall International Marathon also used blockchain technology for the first time in the world, registering the athletes' competition data and all the information of winning links on the blockchain, and using its traceable and tamper-proof technical characteristics to get through the competition.