1

How does blockchain technology work?

Blockchain technology is a decentralized digital ledger that records transactions across multiple computers in a way that is secure, transparent, and immutable. Each block in the blockchain contains a cryptographic hash of the previous block, creating a chain of blocks linked together, hence the name "blockchain.

2

What are some examples of Web3 applications?

Proof of Work and Proof of Stake are common consensus algorithms used to secure blockchain networks and validate transactions. Decentralized finance, or DeFi, leverages blockchain technology to offer financial services without traditional intermediaries.

3

How does blockchain technology work?

A public blockchain is open to anyone and maintains transparency, while a private blockchain restricts access to certain participants. Interoperability between blockchains allows for seamless exchange of data and assets across different blockchain platforms.

4

What are the benefits of Web3?

Smart contracts are self-executing contracts with the terms directly written into code, allowing for trustless and automated transactions.

5

Is Web3 the same as blockchain?

Decentralized applications, or dApps, run on blockchain networks, providing enhanced security, transparency, and user control.

6

How can I get involved in the Web3 space?

Tokenization is the process of converting rights to an asset into a digital token on a blockchain, enabling easier transfer and ownership.

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