This note will help learn the concept of blockchain easily and very quickly because the topic are explained and written in very simple way that help you understand the concept much faster.
What is Web3?
"If you want to learn more about web 3.0, which is a new system
of decentralized networks of distributed networks of networks of
nodes of networks that will allow people to control the internet to
control a network of networks, you can watch more videos on this
channel. Web 3.0 is a new way to control content on platforms
like Facebook and Google, and it will allow normal users to own
their data and have control over how it is shared. This is
important because most of the content on these platforms is
actually developed by normal people, and currently, users do not
have power to own their content or know where exactly their data
is going to be used. By transitioning to a peer to peer network
powered by blockchain technology, users can have more
ownership over their data and know what is happening with it.
Why Blockchain? | Prerequisites
Everyone is talking about blockchain it doesn't matter which
industry you work for all of them are trying to implement
blockchain. Some companies are still doing POC and some are
actually implementing it in fact last year last year when I was
talking to some of the companies they were talking about it and
now they are implementing it look at the speed now. Everything
you do online will be saved in one ledger again we 'll talk about
that later in detail so everything we will store in one. ledger and
that ledger will be transparent so anyone can see that one. If you
have a transparency you can actually trust the system the next
thing is the moment we talk about later no one can change it so
the later which we create. The prerequisites are cryptography and
distributed computing and game theory. The next video we are
going to implement will be on the prerequisites so if you don't
know anything that's fine you can start from today or you can
wait for the next video where we will implement.
Blockchain is a new technology that everyone is talking about,
and it is being implemented across various industries. While some
companies are still conducting proof of concept (POC), others
, have already started implementing it. The reason behind the
increasing adoption of blockchain technology is due to its unique
features, such as everything being saved in one ledger. This
ledger will be transparent, allowing anyone to see it, creating a
system of trust. Additionally, once the ledger is created, no one
can change it, which is possible due to the prerequisites of the
technology- cryptography, distributed computing, and game
theory. As the blockchain industry is currently booming, and there
are more vacancies for blockchain-related jobs than any other
field. Anyone can learn blockchain, and joining the industry can
be beneficial. To get involved, people can share photos and
videos on ireport.com/blockchain.com, share their pictures with
blockchainpictures.com and submit their stories and photos to
blockchainimages.com. Overall, the technology is gaining
popularity, and learning how to implement it can potentially lead
to new opportunities in the coming years
What is Blockchain?
Bitcoin, which is one of the first implementations of blockchain,
can be utilized for various scenarios such as transferring Bitcoins.
However, there are other implementations of blockchain that will
be explored later on. To facilitate secure transactions, multiple
entities are involved in the peer-to-peer network of Bitcoin. Every
time a transaction occurs, it is recorded not only between the
parties transacting but with everyone in the network. This
information is then stored in a ledger format, making it immutable
and secure, thanks to the concept of cryptography. In Bitcoin, the
data is organized in blocks, and a hash of each block is found
using algorithms such as sha3. Multiple transactions are added to
each block, and a new hash is computed for the block with the
previous block's hash and the new transactions. In real Bitcoin,
miners get around 6.25 Bitcoins for adding a block, and the
current price of Bitcoin is quite high. The timing of the blocks in
the Bitcoin network is not fixed, but on average, it is completed
every ten minutes. The reward for adding a block to the chain is
around 20 lakhs, which equates to about 6.3 kilometers.
A miner here is called a miner here so what we do is we give
them a challenge whoever solves a puzzle it can be any puzzle.
The moment someone changes it that block got changed it will
affect the hash and that's how you know that something has been
changed and now we know who has done that let 's kick that
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