Blockchain, cryptocurrency, NFT concepts explained to developers. Understand the technical side of blockchain technology. Learn more about Web3 economy including Dapps, DeFi, DAOs, DEXs, GameFi, smart contracts. Decentralized tech with crypto and smart contracts can potentially provide transparency, trust, consensus, guaranteed execution. The crypto part makes the system potentially difficult if not impossible to manipulate / influence.
What is Blockchain? "Blockchain is the innovative database technology that's at the heart of nearly all cryptocurrencies" - David Rodeck, John Schmidt. "By distributing identical copies of a database across an entire network, blockchain makes it very difficult to hack or cheat the system."
Blockchain technology is useful not just for cryptocurrency. There are many new innovative application, usage of blockchain tech.
Blockchain: ideally blockchain technology is decentralized into a large network of nodes, where it'd be hard for a single party to take over a large number of nodes /computers. There's trust in the tech, security, and ability to execute the exact contract. "Decentralization solves the trust problem through redundant data validation." - From Technology to Society: An Overview of Blockchain-Based DAO. A public ledger. Sometimes double entry ledger. 区块链 - blockchain
Crypto: scarcity - can have limited supplies like Bitcoin. Divisibility of money can generate smaller denominations.
Crypto Kitty: one of the early successful, massive NFT games.
Consensus: consensus model. money is a consensus mechanism - MIT.
Crypto Cities: ethereum creator Vitalik Buterin discusses crypto cities and political DAOs on his personal blog. Vitalik Buterin on Crypto Cities
DAO : Decentralized Autonomous Organization (DAO). in a typical DAO, each token carries some form of voting rights. Every token is like a vote. Gives rise to e-governance and the concept of governance coins.
Dapps: decentralized apps
DeFi: decentralized finance. An example is stablecoins, lending and borrowing, trading on dencentralized exchanges. Without the middleman, such as a bank..
DEX: decentralized exchange.
Dogecoin nodes recently upgraded to version
Ethereum: the famous cryptocurrency that powers many top NFTs and DeFi apps. Year 2015
Ledger: transaction ledger, balance ledger
Mainnet vs Testnet: Mainnet is the live, production environment with the actual ledger. Testnet uses testnet tokens, for development experimental work. will be recorded but is for testing. A example testnet for ethereum Ropsten test network.
NFT: 不可替代令牌, 中文名叫非同质化通证 数字艺术品 - digital art
OpenSea: is perhaps the largest NFT art platform and e-commerce site.
Oracle : one use case for oracle is for checking crypto conversion price before completing a payment.
Proof of work
Proof of stake
Smart contract: a piece of code that executes to ensure the rules and exact actions are taken during a transaction. Can be used to guarantee execution.
Solidity is the code for smart contracts. It has java like syntax.
Statistics: useful statistics how many blocks in the blockchain. how many blocks are added per minute / interval / duration.
Tokens and blockchains you may encounter at hackathons:
Metis Layer 2, Solana, ICON,
Tokens that are useful :
Metis can support DAO. Mobile first tokens/blockchains include : Celo, PiCoin
Neighborhood hacks : build a blockchain tacoshop with Ark.io
Read the full disclaimer. Not financial advice. Not for trading use. Hypothetical discussions only. Informational only.
Disclaimer: My company and I may both own crypto currency. All discussed is for informational purpose only. Crypto and blockchain, NFT, gaming are highly risky spaces. These are not financial advice. Risky investment may incur lost of investment and the entire principal. All discussion of technology is for informational purpose only. Mentioning a tech does not mean endorsement. All tutorials are for informational purpose only, cannot be used for commercial nor production use. Have not been tested for security. Using blockchain, cloud or machine learning technology may incur high costs. We are not responsive for costs, damage associated with any of these technology. You may want to monitor the cost, and set budget alarms and quotas whenever possible.