Introductory Blockchain Concepts
Lesson 1 of 2
  1. 1
    In 2010, a programmer paid 10,000 Bitcoins for 2 pizzas, roughly worth $30. In 2018, that same number of bitcoins is estimated at $83 million in value! The exchange of Bitcoin is possible due to …
  2. 2
    The blockchain is similar to a permanent book of records that keeps a log of all transactions that have taken place in chronological order. Let’s envision a bank transaction in which there are thr…
  3. 3
    So how do Blockchain-based applications like Bitcoin and Ethereum validate transactions without a central authority? In the blockchain, there are many participants in the network that are constant…
  4. 4
    Just like bricks are the building blocks of a house, blocks themselves are the building blocks of a blockchain. A block contains transaction data and other important details related to the creatio…
  5. 5
    Hashing is an application of cryptography that is fundamental to the design of the blockchain. It is a way to generate a seemingly random, but calculated string of letters and numbers from any inpu…
  6. 6
    To recap, a blockchain is similar to a permanent book of records — it keeps an accurate unchanging record of all data, or transactions, stored in chronological order. Each block has a reference to …
  7. 7
    Congratulations! You just learned the basics of blockchain technology. Below is a review of important terms that you may want to study to further solidify your knowledge on the blockchain. **Let’s…

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