Blockchain basics

This week, we start with the first building block (ha) of our Web 3 learning journey syllabus, covering the technology that underpins and enables Web3 applications: Blockchain.

?So what is this Blockchain, actually? Is it digital lego? (That would not be entirely inaccurate, however not comprehensive enough analogy of what Blockchain is.)

Blockchain is the technology that underpins cryptocurrency including Bitcoin and services like Ethereum, enabling the concept of Decentralized Finance (DeFi.) If the terms here sound like white noise and not very much else to you, don't worry, we'll be covering each of them in the coming weeks.

Below is a simple infographic to explain the concept of Blockchain.

To understand the above infographic in greater detail, you can watch the video below:

This video covers the basics of Blockchain, including its definition, core components, risks and application i.e. in Bitcoin and Ethereum which enables Decentralized Finance (DeFi for short.)

Do comment below and share one new thing you learnt /reaffirmed about blockchain from this video, or else add your own nugget of information / learning resource others may find useful. Let's keep the learning chain going!