Most newcomers are confused when entering the circle. Should we call it the crypto circle, web3, or the encryption circle? Why are there still so many unknown terms and concepts? What are WEB3, encryption, blockchain, etc.?

In fact, blockchain is the foundation of this world. We need to correctly understand this world and know our own position. This article will help you understand what the blockchain world really has from a macro perspective.

Through this article, there is now an understanding from a macro perspective. Start recognizing without confusion!

Blockchain

First, from the birth of the Bitcoin white paper in 2008 to the appearance of the first block on January 3, 2009, our world (Pandora's box) was opened. Of course, whether blockchain technology was extracted from the Bitcoin system or Bitcoin is the first application of blockchain technology, we will not delve deeply into this. We will not explore the history related to blockchain before the birth of Bitcoin. We take the birth of Bitcoin as the birthday of the blockchain world.

I almost forgot; I probably won't explain too many terms and concepts in this article. If you find it difficult to read, I suggest you first look at my previous articles.

Blockchain itself is a technology based on mathematics and cryptography, which gave birth to Bitcoin, the first decentralized peer-to-peer electronic cash payment system. Many similar 'blockchains' have appeared since then. The limitations of the Bitcoin blockchain are significant, and activities mostly revolve around the underlying logic of the blockchain (such as the POW consensus mechanism and mining), and at most, people do some 'trading' around tokens.

Some of the chains and history in the process won't be elaborated on; just remember one phrase here:

"Blockchain is a technology based on mathematics and cryptography, born on January 3, 2009 (which is also the birth date of Bitcoin)."

WEB3.0 (WEB3 circle)

WEB3 stands for the third generation of the internet; with WEB3, there are also WBE1 and WEB2. You can refer to my previous article for more details (hyperlink); WEB3 is a commonly used term in the crypto space, where people usually refer to themselves as working in WEB3 doing various jobs.

Currently, in terms of development progress, most architectures are still at the conceptual level and cannot be implemented (due to zz and other unmentionable factors). People rarely talk about the third generation of the internet; WEB3 can be understood as an ecological architecture based on blockchain (discussions about web3 tend to be abstract).

At this point, just remember one phrase:

"WEB3 is another name for the blockchain circle and crypto space; it is the third generation of the internet and an ecological architecture based on blockchain technology."

Crypto space / Crypto circle

The crypto space generally refers to the circle formed by cryptocurrency traders; nowadays, people rarely call it the blockchain circle, usually referring to it as the crypto space, web3, or crypto circle.

Just remember this phrase:

"The crypto space can be said to be a circle formed by players engaged in trading based on blockchain technology within the WEB3 ecological architecture."

Primary market and on-chain

You can refer to my article (What is the primary market and on-chain)#内容挖矿升级