区块链外文翻译文献编辑.docx

1、文献信息：文献标题：BlockChain Technology: Beyond Bitcoin（区块链技术：超越比特币）国外作者：M Crosby，V Kalyanaraman 文献出处：Applied Innovation Review, 2016,7(2):6-19 字数统计：英文 2904 单词，16015 字符；中文 5190 汉字外文文献：BlockChain Technology: Beyond BitcoinAbstractA blockchain is essentially a distributed database of records, or public ledger

2、 of all transactions or digital events that have been executed and shared among participating parties. Each transaction in the public ledger is verified by consensus of a majority of the participants in the system. Once entered, information can never be erased. The blockchain contains a certain and

3、verifiable record of every single transaction ever made. Bitcoin, the decentralized peer-to-peer digital currency, is the most popular example that uses blockchain technology. The digital currency bitcoin itself is highly controversial but the underlying blockchain technology has worked flawlessly a

4、nd found wide range ofapplications in both financial and non-financial world.IntroductionA blockchain is essentially a distributed database of records, or public ledger of all transactions or digital events that have been executed and shared among participating parties. Each transaction in the publi

5、c ledger is verified by consensus of a majority of the participants in the system. Once entered, information can never be erased. The blockchain contains a certain and verifiable record of every single transaction ever made. To use a basic analogy, it is easier to steal a cookie from a cookie jar, k

6、ept in a secluded place, than stealing the cookiefromacookie jar kept in a market place, being observedbythousandsof people.Bitcoin is the most popular example that is intrinsically tied to blockchain technology. It is also the most controversial one since it helps to enable a multibillion-dollar gl

7、obal market of anonymous transactions without any governmental control. Hence it has to deal with a number of regulatory issues involving national governments and financialinstitutions.However, Blockchain technology itself is non-controversial and has worked flawlessly over the years and is being su

8、ccessfully applied to both financial and non-financial world applications. Last year, Marc Andreessen, the doyen of Silicon Valleys capitalists, listed the blockchain distributed consensus model as the most important invention since the Internet itself. Johann Palychata from BNP Paribas wrote in the

9、 Quintessence magazine that bitcoins blockchain, the software that allows the digital currency to function should be considered as an invention like the steam orcombustionenginethathasthe potential to transformtheworldoffinanceand beyond.Section I: BlockChain Technology 1.Short History of BitcoinIn

10、2008, an individual (or group) writing under the name of Satoshi Nakamoto published a paper entitled “Bitcoin: A Peer-To-Peer Electronic Cash System”. This paper described a peer-to-peer version of the electronic cash that would allow online payments to be sent directly from one party to another wit

11、hout going through a financial institution. Bitcoin was the first realization of this concept. Now “cryptocurrencies” is the label that is used to describe all networks and mediums of exchange that uses cryptography to secure transactions-as against those systems where the transactions are channeled

12、 through a centralized trusted entity.The author of the first paper wanted to remain anonymous and henceno one knows Satoshi Nakamoto to this day. A few months later, an open source program implementing the new protocol was released, beginning with the Genesis block of50 coins. Anyone can install th

13、is open source program and become part of the bitcoin peer-to-peer network. It has grown in popularity sincethen.The popularity of the Bitcoin has never ceased to increase since then. Moreover,the underlying BlockChain technology is now finding new range of applications beyond finance.2.Blockchain T

14、echnology: How does it work?We explain the concept of the blockchain by explaining how Bitcoin works since it is intrinsically linked to the Bitcoin. However, the blockchain technology is applicable to any digital asset transaction exchanged online.(1)Validate Entries (2)Safeguard Entries (3)Preserv

15、e Historic RecordInternet commerce is exclusively tied to the financial institutions serving as the trusted third party who process and mediate any electronic transaction. The role of trusted third party is to validate, safeguard and preserve transactions. A certain percentage of fraud is unavoidabl

16、e in online transactions and that needs mediation by financial transactions. This results in high transaction costs.Bitcoinusescryptographicproofinsteadofthetrust-in-the-third-party mechanism for two willing parties to execute an online transaction over the Internet. Each transaction is protected through a digital signature, i s sent to the “public key” of the receiver, and is digitally signed using the “private key” of the