🌐 Blockchain is a new way of distributed information storage. Instead of storing data in one place, it is distributed across many computers in chunks called blocks. Each subsequent block contains a link to the previous one, thereby creating a chain.
The big problem that blockchain helps solve is one of trust. In the past, people trading goods needed someone powerful, like the government, to make sure everyone was honest. But with blockchain, everyone can see and agree on what is happening without the need for a central person.
Simply put, blockchain helps people trust each other and exchange information without resorting to intermediaries. And this is very important!
❗️Of course, this is a powerful technology, but it is not perfect. There are many different blockchains, and each differs in its purpose and technical parameters.
The two most famous blockchains are 💰Bitcoin, which was created as a decentralized digital currency, and 🔹Ethereum, which allows you to create smart contracts.
ℹ️ But despite their strengths, all blockchains face one problem, which we will talk about in the next educational post!
