BLOCKCHAIN AND MODULAR BLOCKCHAIN FOR CRYPTO DUMMIES
A blockchain is a system that stores and transfers data in a secure and transparent way. It is like a chain of blocks, where each block contains some information, such as transactions or contracts. The blocks are linked together by a special code called a hash, which makes sure that the data is not tampered with or changed. Anyone can join the blockchain network and see the data, but they cannot modify it without the consent of others.
A modular blockchain is a type of blockchain that splits the tasks into different layers or components. Instead of doing everything by itself, a modular blockchain can use other blockchains to perform some functions, such as storing data, verifying transactions, or executing smart contracts. This way, a modular blockchain can be more efficient, scalable, and flexible than a regular blockchain.
For example, imagine you want to build a house. A regular blockchain would be like a builder who does everything by himself, from laying the foundation, to installing the plumbing, to painting the walls. A modular blockchain would be like a team of builders who specialize in different tasks, such as carpenters, plumbers, electricians, and painters. They can work together to build the house faster and better, and they can also change or replace some parts if needed.
A modular blockchain can also offer more choices and customization for the users. For example, you can choose which blockchain to use for storing your data, depending on your needs and preferences. You can also switch to another blockchain if you are not satisfied with the current one, without losing your data or disrupting your service.
Some examples of modular blockchains are Celestia and rollups. Celestia is a blockchain that focuses on providing data availability, which means it can store large amounts of data securely and efficiently. Rollups are blockchains that run on top of Celestia, and they can handle transactions and smart contracts.
