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What Exactly Is Blockchain and How Does It Work?
Medium· 2025-10-28 02:07
Core Concept - Blockchain is a digital ledger that securely stores data across a decentralized network of computers, eliminating the need for a central authority [1][2][3] How Blockchain Works - A transaction is made and contains details such as sender, receiver, amount, and timestamp [5] - The transaction is broadcast to a peer-to-peer network of nodes for verification [6] - Multiple nodes use a consensus mechanism to validate the transaction, with popular methods including Proof of Work and Proof of Stake [6][7] - Once verified, the transaction is added to a block, which is then permanently added to the blockchain [7][8] - The blockchain creates an immutable and transparent record of all transactions [8] Importance of Blockchain - Blockchain enhances transparency and trust by allowing public verification of transactions [9][11] - It provides security through cryptographic principles, making it difficult to alter data [11] - The technology decentralizes power, empowering individuals and communities [11] - It increases efficiency by removing intermediaries, leading to faster and cheaper processes [11] Real-World Applications - Blockchain is utilized in various sectors beyond cryptocurrency, including: - Decentralized Finance (DeFi) for lending and trading without banks [12] - Supply chain tracking for tracing the origin of goods [12] - Secure sharing of medical records in healthcare [12] - Control over digital identities [12] - Transparent voting systems [12] - Proof of ownership for digital art and collectibles [12] Challenges Facing Blockchain - Scalability issues with transaction volumes [13] - High energy consumption, particularly in Proof of Work systems [13] - Regulatory and adoption hurdles as governments navigate blockchain [13] - Complexity of technology for everyday users [13][14] Future of Blockchain - Blockchain is foundational to Web3, promoting a user-owned internet where individuals control their data and assets [15][16] - It signifies a shift from trust in institutions to trust in code, potentially leading to a technological revolution akin to the rise of the internet [16]
X @mert | helius.dev
mert | helius.dev· 2025-10-27 16:15
the state debases your money -> you go to BTCthe state debases and monitors your money -> you go to ZECnot rocket surgery~ Zynedine Zidane ...
X @Starknet (BTCFi arc)
Starknet 🐺🐱· 2025-10-27 05:27
RT Ohad Barta (@OhadBarta)Short-term work doesn't have catchy titles, but its still highly exciting. With the spike of UOPS we experienced, Starknet no longer has wide margins before it will be congested. This means we are all hands on improving scale and costs, to answer the world's demandLong-term: decentralization next milestone will come next year, and a lot of advanced research is done by the team. I'm always excited to talk with builders directly and explore more features! Starknet can evolve to meet ...
X @mert | helius.dev
mert | helius.dev· 2025-10-26 16:04
Zcash DAT?benefit of a DAT is increasing the accessibility of the coin; it is why MSTR was effectivea privacy coin is even harder to access; a DAT solves thiswould also decentralize hashpower + drive reflexivity to the shielded poolmy dome would look v handsome on CNBC ...
X @Starknet (BTCFi arc)
Starknet 🐺🐱· 2025-10-26 12:02
Scalable. Decentralized. Aligned with Bitcoin and Ethereum.All in one. ...
X @vitalik.eth
vitalik.eth· 2025-10-26 02:34
Blockchain Security - A blockchain's core security feature is its resistance to invalid block validation, even in a 51% attack scenario [1] - This inherent security is compromised when validators are entrusted with tasks beyond the blockchain's control, potentially leading to incorrect and unauditable outcomes if 51% of validators collude [1]