Intro to Blockchain - A Simplified Version

Like every introduction - A new way to introduce Blockchain based on my personal experience

Hello Folks, I know it's late but better late than never.

Blockchain is a disruptive technology and is changing the life on the Globe. Finance, Supply chain and logistics, Food, agriculture, automobile and vehicles, medicine, businesses, HR industry and you name it - all have seen blockchain from a different perspective.

After doing this 8 minute reading, you will learn:

1. Blockchain
2. Types
3. Web3.0
4. Metaverse
5. Daap
6. Use of this technology in business
7. Developers can shift from web2.0 to web3.0
8. Conclusion

Blockchain:

Everyone has it's own definition of it but I would like to define it according to the way I personally understand it.

"Blockchain is a Distributed database that is immutable and decentralized secured by cryptography and mathematics"

Types:

We can mainly categorize blockchain into 4 categories:

1. Public
2. Private
3. Consortium
4. Hybrid

Web3.0:

People have a confusion in understanding web3.0, let me explain it in one line:

"It's mindset"

Yes, you heard it right. It the way you perceive it. Anyone who is in any domain of life from artist to developer, business manager to CEO, he can think the way he perceives and it will mould itself accordingly.

Metaverse:

It's a new reality - making the unreal as real.

Didn't get it?

Ok, let's make it more simple.

It's a new virtual world in which you can design and interact with the objects the way you would like to do.

DAAPs:

It stands for decentralized applications.

Web2.0 is centralized i.e There are central entities who are monetizing on our data like Facebook, google and you name it.

Daap days to integrate web2.0 on blockchain and it becomes decentralized.

This is a fast and quick intro.

Use of this technology in business:

Businesses need transparency. If you want to make business autonomous and let math and cryptography allow to manage your business according to the rules then yes, blockchain is the technology you need in your business.

Developers can shift from web2.0 to web3.0:

A short and sweet answer to this is to learn web2.0 in depth and then start with Ethereum blockchain.

Conclusion:

Blockchain is a new and disruptive technology that is changing the way people think about business and life.

We must be an early adopter of this technology so, we are not left behind.

I have tried my best to give the essence of each concept instead of going in depth.

I would like you to contribute in comment section if you want to add anything.

Also, what is the next topic which you want to know.

Looking forward to hear from you.

Regards,

Ali Akbar

Ethereum Blockchain Developer