BLOCKCHAIN
is a decentralized,distributed digital leger that record transaction across many computers. its is also a database of transcation
HOW BLOCKCHAIN WORKS
-someone request a transaction
-Transaction is complete and permanent
-Network validates the transaction usingalgorithms
-Block is added to the existing blockchain
Transaction is broadcast to a network of computers(nodes).
"nodes"-multiple server
"block"-bunch of transaction
KEY BLOCKCHAIN CONCEPTS
-Decentralization
-transparency
-immutability
-consensus
-crytograhy
WEB 3
is the next evolution of the internet that focuses on decentralization, blockchain technology, and user owners
-Aim to reduce reliance of big tech companies
-built on blockchain technology
Web1-Web2-Web3
web-1
-read only static websites
-one way infomation flow
web-2
-interactive, social platfrom
-user-generated content
web-3
-user-owned internet
-Decentralized application