, 2023-01-04 12:59:40,
Web3 can be a confusing place. If you’re new, words like “blockchain,” “NFT,” and “smart contract” are opaque terms that do more to suppress curiosity than invite it. That skepticism shows up in the data: globally, just 1 in 10 working-age internet users own some form of cryptocurrency, the digital tokens needed to engage with much of the Web3 ecosystem.
This is ironic, since Web3 is the latest version of the internet, founded on ideas of accessibility and equity. Don’t let the critics fool you; the stereotype that crypto and NFTs belong to an exclusive and unwelcoming “crypto bro” niche is just that — a caricatured generalization. These tools are worth the learning curve no matter who you are (or how old you are) because they’re made with everyone in mind. And, just as crucially, they’re rapidly changing how the world works. While the blockchain — the technology underpinning all of what goes into Web3 — is indeed complex, the concepts it’s built on are actually pretty easy to understand. So, let’s dive in.
What is blockchain?
The blockchain is a distributed digital database that stores, moves, and tracks information globally without sacrificing transparency. This data is contained in “blocks” that link together to form a chain-like record of information flow. Think of the blockchain as a type of internet infrastructure. Just as the internet enables programs like Gmail, Spotify, or PayPal to exist, the…
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