Development and Supervision of Financial Technology Based on Blockchain.

Decentralization, stability, security, and immutability are all features of blockchain technology. Blockchain, as the underlying technology of Bitcoin's digital monetary system, is currently sweeping the globe. Blockchain is a revolutionary decentralized database technology that employs encryption, a timestamp chain data structure, a distributed consensus mechanism, and other technologies to achieve decentralization, tamper resistance, easy tracking, and programmable smart contracts. In the face of rising financial technology, we must maintain inclusive, technological, and invasive regulatory principles that not only foster financial innovation, but also conduct dynamic supervision to avoid systemic financial hazards. The consensus algorithm is one of the main blockchain technologies that has a direct impact on the system's functioning. As a result, in this paper, we propose a blockchain-based development and supervision method for financial technology, as well as an application of this technology to commercial settlement, which can significantly reduce data complexity, time consumption, and the structural chain phenomenon in existing transaction settlement. We bring the idea of pow competition into DPoS, construct a consensus algorithm with an upgrade mechanism, and call it delegated proof of work, based on an in-depth investigation of the working principle of pow (proof of work) (dDPoS). The blocking efficiency of the dDPoS consensus method is around one block every 10 seconds, which is significantly higher than the blocking efficiency of the POW and POS consensus algorithms. As a result, it offers a potential answer to traditional centralized institutions' concerns of high brokerage costs and insecure central storage, as well as a wide range of application possibilities.