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Before we look at the detail of LwTx architecture, let's look at the core elements and technologies used in LwTx. First, blockchain networks use public key cryptography for the safe operation of the blockchain. In order to make transactions between users and users, it is necessary to have a wallet encrypted with the user's private key. The user's public key serves as an address known to everyone. Second, Blockchain has a P2P-based information exchange system between nodes. This exchange takes place via a file created by the source node and broadcast to the entire network for verification. All nodes are aware of the current balance of each address and maintain a copy of the existing blockchain, and the state of the blockchain will change after each transaction. Since the unit time transaction volume is enormous, it is very important to verify the authenticity of the transaction and discard the fake. And last, all nodes must agree to the common content update protocol for this distributed ledger and must maintain a consistent state and must not accept the generated transaction block as part of the blockchain without multiple consents. This process is called the consensus mechanism. |
IEEE/ICACT20210248 Slide.04
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