What exactly is Web3? 2 Blockchain Basics

A blockchain is a "block" chain or a shared ledger of data - everyone can see what is happening and all transactions in real time.

If trust can be set by code, then creators don't have to rely on middlemen.

They don't have to go through a bank to get money; they don't have to trust a lawyer to draw up a contract; they don't have to rely on the Internet to make a living.

The three characteristics of blockchain are

Decentralized: transactions are stored on a network of computers (nodes).

Untamperable: Once a transaction is committed to a block, it cannot be changed.

Open and transparent: anyone can view the transaction.

Bitcoin uses the blockchain and is therefore decentralized, tamper-evident and open and transparent.

This is also due to.

Hard cap: There will only ever be 21 million $btc.

Single use: Many holders simply want it to be a digital Token that stores value.

From a developer's perspective, it's a backend that never Server Down， and people can see what everyone is doing anonymously by address.

People can deploy the APP and use it to create a decentralized application, and everyone owns what they produce.

To be continued

If you want to know more about web3 decentralized application, welcome to bookmark our website