CRYPTO NEWBIES GUIDE 101

Don't just be carried away with the screenshot of profits people show online without first understanding some key tenets of the actual technology that powers the crypto world: Blockchain✅️

A blockchain is an advanced database mechanism that enables transparent information sharing within a business network.

It stores transactional records as a structured "block" in several databases technically known as a "chain" in a network that is connected through P-2-P nodes.

This type of storage is referred to as a "Digital ledger."

Note: A digital ledger is like a Google spreadsheet whose data is shared among many PCs within a network.

So, with blockchain, anyone can see the data that is shared on a given network (transparency), but nobody can alter/corrupt it.

Blockchain technology has come to stay because of it competitive edge of :

▶️Decentralisation

▶️Security and

▶️Scalability

All the crypto projects in existence and even emerging projects are developed to tackle/solve problems either in relation to decentralisation, security and or scalability.

For instance, the Etherum project has carved a niche for itself as the most secured network in the crypto space, but in terms of scalability, speed, and fees, Solana does a better job although the solana network has a lot of security issues.