In the past, we thought transactions were 1v1: I pay, you receive.
But in fact, there is a huge 'intermediary' in between - banks, governments, Alipay.
These institutions are responsible for recording, verifying, and managing our transaction data.
Thus, the entire system has become:
You trust the bank, not the other party.
And blockchain has changed everything.
In the world of blockchain, any two people can complete transactions directly.
Transactions are recorded collectively by countless 'volunteer nodes' globally, with each node holding a copy of the ledger.
Once someone attempts to tamper with the data, other nodes can immediately detect and reject it.
This is the power of 'decentralization'—
there is no single authority, yet everyone can still reach a consensus on the same account.
Whenever the system accumulates a certain number of transactions, a 'block' will be generated.
These blocks are linked together like time capsules, using passwords (hash values),
thus forming the 'Blockchain'.
And 'mining' is actually participating in bookkeeping.
Whoever first uses computing power to solve the password of this block,
will obtain the right to keep accounts and rewards (such as Bitcoin).
I particularly like the concept behind this mechanism:
Trust no longer relies on institutions, but on algorithms, transparency, and consensus.
This is the most romantic place I understand about blockchain.
It turns 'trust' into a public resource that can be calculated and shared.
#Web3 #Blockchain Introduction #Cryptographic Thinking #Learning Record
