Decentration Transaction Method Based on Blockchain Technology

In recent years, the bitcoin has provided great opportunities and challenges for modern financial industry, and then the blockchain technology which supports bitcoin has attracted more and more attention. In this paper, we propose a novel decentration transaction approach based on blockchain technology. Transaction data in the digital monetary system model with blockchain technology contains the transaction information of digital currency circulation, and the account information of the digital currency owner. A blockchain is constructed by a unique sequence through saving the functions of former block. The formation of a chain depends on the system time of each node, which is related to the real sequence obtained the block. A block is made up of block head and block body, and. The block contains all the relevant information about the transaction, and the block head contains the previous block’s hash value, timestamp, random number, difficulty coefficient and the Merkle root hash value. Finally, block synchronization between two nodes is given.