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A blockchain is a distributed, shared, and permanent database that is shared by multiple nodes on a computer network. They record data in such a way that it is virtually impossible to modify or hack the system.

Blockchains, as the name implies, record data as a chain of blocks. Each block contains a set of transactions that may transfer assets across the network or update information on the blockchain.

In layman's terms, Blockchain is similar to a ledger. Which merely stores transactions. Bitcoin currently allows 1500 transactions per block. It is the Mining Node's responsibility to verify the transactions and add them to the blocks. What Happened Next?

This Block is connected to the Chain.

Each Blockchain Block Contains Three Things:

(1) Data: anything goes.

(2) Hash: it is generated based on data. If the data is modified, the hash will also be modified.

(3) Previous Hash: Also contains the Hash of the Previous Block, allowing the Chain to be maintained.

The block with no previous hash is referred to as the Genesis Block or the Starting Block.

The blockchain is a decentralised network because it stores data in a peer-to-peer network of nodes. This has significant advantages over the traditional method of storing data centralised.

Web3, the internet of the future, is a decentralised internet. The internet is shared online and governed by the collective "we" under Web3, rather than being owned by centralised entities. The foundation of the Web3 world is open-source protocols. Web3 is all about redesigning internet services and products to benefit people rather than entities.

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