Web3 technology has rapidly evolved from a niche innovation to a foundational element of modern digital infrastructure. Its applications span various industries, from finance to healthcare, and its potential to transform the way we interact with data and transactions is immense.
To help you navigate this complex yet fascinating world, we have compiled an extensive resource page that breaks down the essential concepts of Web3. Additionally, we will introduce you to the Chainlens EVM Blockchain Explorer, a powerful tool for monitoring tokens, NFTs, and account data.
Below is a concise overview of our comprehensive articles. For a deeper understanding, delve into the full articles and explore the intricate world of Web3. Start your journey to understanding Web3 now!
What is Blockchain?
At its core, blockchain is a decentralized digital ledger that records transactions across multiple computers. This ensures that the data is secure, transparent, and immutable. Each transaction is grouped into a block, and these blocks are linked together in a chain, hence the term "blockchain." To learn more about this foundational concept, read the full article on blockchain.
Blocks
A block is the fundamental unit of the system. It contains a list of transactions, a timestamp, and a cryptographic hash of the previous block, which ensures the integrity and chronological order of the ledger. Blocks are added through a process called mining, which involves solving complex mathematical problems. For more details, see the section on blocks.
Transactions
A blockchain transaction is a transfer of value that is recorded on the ledger. Transactions are verified by network nodes through cryptography and recorded in a block. Once a transaction is added, it becomes immutable. Find out more about blockchain transactions in the main article.
Wallets and Accounts
To interact with the blockchain, users need a wallet. A wallet stores the user's private and public keys and interacts with various networks to enable sending and receiving digital currency and monitoring balances. An account is an identifier that enables transactions and interaction with the network. Explore the details about wallets and accounts.
Smart Contracts
Smart contracts are self-executing contracts with the terms of the agreement directly written into code. They automatically enforce and execute the terms of a contract when predefined conditions are met. Smart contracts are stored and replicated on the blockchain, making them immutable and transparent. Delve into the intricacies of smart contracts.
Tokens
Tokens are digital assets created on a blockchain. They can represent a variety of assets, from cryptocurrencies to utility tokens used within a specific application. Tokens are often created through smart contracts and can be transferred between users and integrated into decentralized applications (DApps). For more on this topic, check out the full section on tokens.
Smart Contract Events and Logs
Smart contracts can emit events and write logs, which are recorded on the blockchain. Events are used to communicate that something of significance has happened within the smart contract, while logs are a form of storage used to record important information. Learn more about smart contract events and logs.
Nodes
A node is a computer that participates in the network. Nodes validate and relay transactions and blocks. There are different types of nodes, including full nodes, which store a complete copy of the ledger, and light nodes, which store only a portion of it. Read further about the role of nodes in blockchain.
Types of Blockchain
There are several types of these networks, including public, private, consortium, and hybrid. Public networks are open to anyone, while private ones are restricted to specific users. Consortium networks are controlled by a group of organizations, and hybrid networks combine elements of both public and private systems. For a deeper understanding, see the types of blockchain.
Gas Fees
Gas fees are transaction fees paid by users to compensate for the computational energy required to process and validate transactions on the blockchain. These fees are typically denominated in the blockchain's native cryptocurrency and vary based on network demand. Discover more about gas fees in blockchain.
Chainlens EVM Blockchain Explorer
To enhance your understanding and interaction with on-chain assets, we recommend using the Chainlens EVM Blockchain Explorer. Chainlens is a powerful tool that allows users to explore Ethereum Virtual Machine (EVM) compatible blockchains. It provides detailed insights into transactions, blocks, smart contracts, and more. With Chainlens, you can track blockchain activity, analyze data, and gain a deeper understanding of how blockchain works. Take a look at Chainlens' features in more detail.
Our resource page is designed to be an inclusive and informative guide for anyone interested in learning about blockchain. Whether you are a beginner or an experienced professional, our articles will provide you with the knowledge you need to navigate the world of web3 confidently. Explore the various sections to gain a comprehensive understanding of this transformative technology.
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