Teaching materials to prepare before opening the kindergarten ๐ผ
These are essential concepts for us to understand @base and @MMTFinance!!
Until the previous session, we explored how the blockchain is structured.
In other words, we learned what can be stored and what actions can be taken on the platform.
We also found out that the contents of each block differ for each chain (BTC, ETH, SOL, BNB, SUI, ... etc).
But just because it has this kind of structure, it doesn't explain why we talk about "decentralization" and "impossibility of tampering," right? Today, we will look into that part!
For someone to mine a blockchain, a computer is fundamentally required!
The mining methods differ for each chain, but a computer is always necessary, and what happens on that computer is as follows:
1. It holds a copy of all transaction history on the chain so far.
2. All computers update transactions/operations occurring on a block-by-block basis in real-time (the same content).
3. As a reward for participating in all those records, the chain provides compensation (mainly receiving the chain's coins).
-> To summarize, "All computers update and store all transaction histories in real-time and receive coins as a reward!
This is the reason why it becomes "impossible to tamper."
While one person can decide to hack a single computer, hacking all computers in the world is difficult.
At the same time, we can also talk about decentralization, where multiple decentralized computers wield less power than a centralized computer and are more robust and trustworthy.
Finally, the reason why Ethereum is called a global computer is that it executes smart contracts (programs that run within blocks, discussed last time) identically across all Nodes (computers) and shares the results, making it akin to one computer operating the same way worldwide.
I think there will be quite a few questions this time. Please ask questions and take care of your friend sitting next to you~~
Also, we will soon open a Telegram group.
1. If you ask questions in the Telegram group, I will update the main content in real-time to make it easier to understand.
2. I will archive this posting material and provide links for easy viewing, so you can browse through them in order.
3. I will give praise points to friends who actively participate, and collecting praise points will likely lead to good things!
Kindergarten๐ผ class materials to prepare before opening
These are essential concepts for us to understand @base and @MMTFinance!!
So, did you get this far?
Now, the discussions that follow are important.
The blockchain I mentioned earlier is the true primitive blockchain, and that's why Bitcoin is called a store of value.
The blockchains that came after wanted to include more things in the block.
Since what can be precisely included in a block is changing in real-time, I'll just metaphorically talk about the important stuff comfortably.
(It's different for each chain)
From Ethereum onwards, it became possible to include "program code" and "NFT" in the block.
This is the essence of @MMTFinance. The program code contained in the block. It allows transactions to occur based on certain rules while also farming fees and so on.
Next time, let's find out why blockchain is called a decentralized platform and why Ethereum is referred to as a global computer ๐ช
@base @MMTFinance Hey guys, but I think the term "World Computer" is a more common expression. Sorry, my brain isn't functioning properly right now.
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