Getting Started With Blockchain

Introduction to Blockchain

Blockchain is often likened to a digital ledger or a continuously growing chain of blocks. Each block contains a set of transactions, and once it's filled, a new block is created and linked to the previous one, forming a chain.

How Blockchain Works

Transaction Initiation: A user initiates a transaction, which is then broadcast to a network of computers, known as nodes.
Verification: These nodes validate the transaction using consensus algorithms. Once verified, the transaction is grouped with other transactions to create a new block.
Adding to the Chain: This new block is then added to the existing blockchain in a way that's permanent and unalterable. The transaction is now complete.

The Future of Blockchain

The potential of blockchain extends beyond just financial transactions. Industries from healthcare to supply chain are exploring its applications for transparent, secure, and efficient operations. As technology continues to evolve, blockchain is set to revolutionize various sectors, making processes more transparent, secure, and decentralized.

Key Features of Web3


Unlike traditional databases, such as a SQL database, where there's a central authority, in blockchain, every participant (node) on the network has access to the entire database and the complete transaction history.


Transactions are transparent to all users, but they are encrypted by a unique cryptographic signature, ensuring privacy.


Once a transaction is added to the blockchain, it cannot be altered or deleted, ensuring data integrity.

Consensus Algorithms

These are techniques used to achieve agreement on the data's validity. Common algorithms include Proof of Work (PoW) and Proof of Stake (PoS).


Transactions must be approved through consensus and then encrypted and linked to the previous transaction. This, combined with the decentralized nature of blockchain, ensures robust security.

Cryptocurrencies and Blockchain

While blockchain is the technology, a cryptocurrency is a medium of exchange, like traditional currencies but digital.

Bitcoin, the first and most well-known cryptocurrency, operates on a blockchain.

However, blockchain's potential extends far beyond just cryptocurrencies.

Beyond Cryptocurrencies - DApps and Smart Contracts

DApps are applications that run on a blockchain. They are decentralized, removing the need for intermediaries and central control.

Smart contracts are self-executing contracts with the agreement directly written into lines of code. They automatically enforce and execute when certain conditions are met, ensuring trust and transparency.