Blockchain Basics

An introduction to basic blockchain
terminology and concepts.

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Blockchain & Crypto Apps
Fundamentals

Blockchain

A system for recording transactions.

Blockchain vs Bitcoin

Technology vs Implementation.

Ethereum

Programmable transactions.

Smart Contract

A contract written in code.

Dapps

Applications built on blockchain.

Web 3.0

The next evolution of the web.

A system for recording transactions.

Blockchain

Definition

Blockchain is a system in which a record of transactions are maintained across a network of many computers. It's a shared database open to anyone, allowing users to make secure and transparent transactions.

Why it's important

This technology allows us to create entirely new ways to make transactions online. It allows us to make transaction on a network we can trust without needing to depend on 3rd parties to do this for us.

Technology vs implementation.

Bitcoin

Definition

The first major use case for blockchain is the currency known as Bitcoin. While blockchain is the technology that allows us to keep a record of transactions, bitcoin is the implementation of blockchain focused specifically on making financial transactions.

Why it's important

Bitcoin started the entire blockchain revolution. It was only after Bitcoin gained it’s popularity that the potential for blockchain was recognized. Bitcoins goal is improve trust between users in the network so that we can make transactions without the need for banks. Blockchain is the technology that allows for this network to succeed and extends its applications to many another industries.

Programmable transactions.

Ethereum

Definition

Ethereum is a platform for creating applications using blockchain technology. This is a separate blockchain platform from Bitcoin that allowed users to program entire decentralized applications. These applications use a programming language, known as Solidity, to allow users to build Smart Contracts, a type of contract written in code.

Why it's important

Ethereum took the fundamentals provided by Bitcoin and extended it one step further. By adding a programming language to the system provided by Bitcoin, Ethereum allowed users to create entirely new applications that have applications to industries well beyond financial transactions.

A contract written in code.

Smart Contract

Definition

A smart contract is a type of contract written in code. While Ethereum was the first to allow users to write smart contracts, there have since been many platforms created that allow developers to create smart contracts. Any agreement, including those made in business, finance, insurance, supply chains, and more can now be written as a smart contract allowing the transactions to be automated.

Why it's important

By creating smart contracts, we can improve any industry where the tracking and management of products takes place. Similar to how Bitcoin helps users make secure and transparent financial transactions, smart contracts allow users this same functionality with things like medical supplies, voting, energy, real estate, and much more.

Applications built on blockchain.

Dapps

Definition

"Dapp" is short for decentralized app. A dapp is an application built on the blockchain that allows users to interact with a smart contract. They often utilize cryptocurrency or tokens as a form of currency that allows users to exchange and track value in return for whichever product or service the application specializes in.

Why it's important

Dapps make it possible for everyday users to interact with a blockchain. While smart contracts provide the nuts and bolts that access the blockchain, it’s important to create an interface that users can actually interact with. By creating these decentralized apps, developers are giving access to this powerful technology to their users.

The next evolution of the web.

Web 3.0

Definition

While Web3.0 has many definitions, it's widely known as the next evolution of the web. To understand Web 3.0, it helps to know what Web1.0 and Web2.0 are.

Currently, we're in Web2.0, which refers to the web as a collaborative, interactive, and social web. This is an improvement on Web1.0 where all websites were static and only allowed us to share information, not interact with it. Web3.0 refers to the extension of our current web to include the internet of things and the automation of value between both people and things on the network.

Why it's important

The possibilities of Web3.0 are huge, and it can be difficult to summarize what effect this could have on our everyday lives. Think of a world where everything is online, including homes, cars, stores, and more. These objects can be given their own identity and can start to make decisions for themselves. For example, picture a car that can drive itself to the gas station and both request and pay for an oil change. It’s hard to guess where Web3.0 will go, but by imagining the possibilities of a fully connected, intelligent, and automated world, it’s hard not to let your thoughts run wild!
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As believers in the power of blockchain and crypto apps to change the world for the better, our vision is to provide tools to help people learn, explore, and use this technology.

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Free, Open Source, and blockchain-agnostic. We’re developing tools to help everyday people do extraordinary things using blockchain.

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