Starting out in the world of web3 can be overwhelming, but I'm here to share what I learned in just one day of exploring. Here are the key concepts that I discovered:
- Blockchain: It's a decentralized ledger that keeps a secure and transparent record of transactions.
- Smart Contracts: These are self-executing agreements written in code. They run on the blockchain and automate the process of executing a contract.
- dApps: Applications that run on a decentralized network, powered by blockchain and smart contracts.
- Nodes: Computers that help validate and process transactions on the blockchain network.
- Ether (ETH): The cryptocurrency used for transactions on the Ethereum blockchain.
- Cryptography: A method used for secure information and communication.
- Consensus Algorithm: The rules used to validate transactions on the blockchain network.
I was amazed at how these simple concepts can come together to create a decentralized world where users have more control over their data and transactions. I can't wait to keep learning and exploring the possibilities of web3!
What were some key concepts that you learned when starting out with web3? Let me know in the comments!
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