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Digital Asset Landscape Primer: Part 1
Christopher has highlighted this Insight as a Top Pick
382 Views16 Oct 2024 23:48
SUMMARY
- Blockchain Basics: Blockchain is a decentralized ledger recording transactions without a central authority. Participants validate and store immutable, transparent data, ensuring trust and security throughout the network.
- Blockchain Layers: The blockchain ecosystem consists of Layer 1 (core blockchain), Layer 2 (scaling solutions), and Layer 3 (applications), all working together to enable secure, scalable interactions with blockchain technology.
- Key Concepts: Blockchain principles include immutability (data cannot be changed), permissionless participation (open to anyone), and decentralization (no single entity controls the system), ensuring security, transparency, and trust across networks.
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