Understanding Of Blockchain Technology
Let' explore blockchain technology in a way that anyone can understand
1. Basics of Blockchain
Blockchain is like a digital ledger that records transactions across a network, forming blocks of data linked together cryptographically.
2. Decentralization and Security
Blockchain operates without a central authority, making it secure through consensus mechanisms like Proof of Work POW or Proof of Stake POS .
3. Smart Contracts and DApps
Smart contracts are self-executing contracts with terms directly written in code. Decentralized Applications (DApps) use blockchain as their backend code.
4. Development Tools and Frameworks
Developers use various tools and frameworks like Solidity, Web3.js, and Truffle to create and deploy blockchain applications and smart contracts.