Web 3
Blockchain
Blockchain is a digital record of transactions distributed and shared among the nodes of a computer network. Each transaction in the blockchain is called a block, and links to another with cryptography techniques. Blockchains are helpful when you are trying to build a decentralized system that ensures the security and integrity of data while maintaining trust between every system user.
Every block in a blockchain possesses the following properties:
- Data to record on the blockchain, e.g., transaction data
- A block hash, the ID of the block generated using cryptography techniques
- The previous block’s hash, which is the cryptographic hash of the last block in the blockchain. It is recorded in every block to link it to the chain and improve its security
- A timestamp of when the block was created and added to the blockchain
- Proof of Work (PoW), which is the amount of effort taken to derive the current block’s hash. We will explain this in depth later in the tutorial
Solana
Solana is a decentralized blockchain built to enable scalable, user-friendly apps for the world.
Solidity
An object-oriented programming language for implementing smart contracts on various blockchain platforms, most notably, Ethereum.