With the development of blockchain technology, we can build many different applications on the blockchain. For example, in the financial industry, we can use blockchain's decentralized features to create an encrypted electronic currency system that does not require a third party. The system allows transactions without going through a third party. People can save some transaction costs, such as application fees or transaction fees. However, the system does not have a third party to control the data. It may lead to insufficient security of every wallet in the blockchain. Therefore, we will use public-key certificates and RFID technology to improve security. Use software and hardware two-factor authentication to prevent wallet theft. Blockchain is also a distributed ledger that anyone can see. All transaction information and smart contracts on the blockchain are entirely public. It also means that anyone can view transaction records and contract the content. It may lead to the abuse of data by illegal users. In this regard, we will use a multicast mechanism to protect private data on the blockchain and prevent data leakage. Finally, there are more and more transactions and smart contracts in the blockchain. In Bitcoin, all transaction data exceeds 80 G.B. It may cause a significant burden on some computers. In this regard, we will propose a new consensus algorithm to improve the performance of the blockchain. Transactions in the blockchain can be more efficient and faster.
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