Showing posts from 2023

Blockchain 101: Understanding the Building Blocks of Blockchain Technology

Blockchain technology is one of the most talked about and rapidly growing areas of technology today. It is built on a number of key elements, each of which plays a crucial role in the functioning of the system. In this blog post, we will demystify and break down some of the key ingredients of blockchain technology and explain the inner workings of this revolutionary new wave. 1. Introducing Blockchain, Cryptocurrency, Coins, Fungible and Non-Fungible Tokens Blockchain: as an overview, blockchain technology is a decentralized digital ledger that is used to record transactions across a network of computers. Its decentralized nature makes it resistant to tampering and modification, creating a transparent infrastructure for users to store and transfer their digital assets.  Cryptocurrency: (as a broader term) is a digital virtual currency that is secured by cryptography as a means of securing communications and using key-pairs as a provable identity, to execute transactions on the blockch

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