On Nov. 6, Yanqi Cheng, vice director of Information Technology Center, Zhejiang University, delivered a lecture on “Blockchain Technology and Its Application” at the invitation of Agricultural Experiment Station/ Agricultural Sci-Tech Park Management Committee, Zhejiang University. By comparing bitcoin to “mining activities”, Prof. Cheng humorously used the examples of bitcoin and its history to introduce the background, characteristics, application and development of Blockchain.

Blockchian is a new application pattern of distributed data storage, point-to-point transmission, consensus mechanism, encryption algorithm and other computer technologies with the characteristics of decentralization, tamper-resistance, whole-process marking, traceability, collective maintenance, transparence. These characteristics guarantee the “honesty” and “transparency” of blockchain and lay a foundation for blockchain to create trust. The abundant application scenarios of blockchain are mainly based on that blockchain could solve the problem of information asymmetry and realize the cooperative trust and concerted action among multiple subjects.