What is Blockchain?
Blockchain is a shared database that links data in blocks that cannot be edited.
This creates an irreversible timeline of data, allowing you to see when and where any piece of data was created or stored.
It's a distributed ledger - same information is stored in multiple places within a network.
When an information is entered on a blockchain, it is recorded over the entire network.
By its nature, blockchain is decentralized.
This implies that there is no central server that controls or owns the data.
In the web3 world, a user has more control and ownership on his/her data because he/she would have direct access to the blockchain it was stored on.
History of Web?
Web1.0 was all about providing information to people. It was about connecting people with information.
Web 2.0 was about connecting people to people.
Web 3.0 is about connecting people, places and things. Most important is that it is built on blockchain technology and emphasizes on decentralization + individual ownership.
One enters the Metaverse to do things with other people but free from the constraints and barriers of the physical world. VR and AR are some ways to enter Metaverse. Shopping experience can benefit a huge way via AR/VR. Same for education. Banking experience can also be a virtual and pleasing experience. of course, not to forget gaming.
Blockchain also enables NFTs (Non Fungible Tokens). NFTs are unique digital representations of assets which exist on blockchain.
