Blockchain Technology Fundamentals

A decentralized, digital ledger that records transactions across a network of computers
Uses cryptography to secure and validate transactions
Consensus mechanism: nodes on the network agree on the state of the ledger
Immutable: once a transaction is recorded, it cannot be altered or deleted

Bitcoin (BTC): first and most well-known cryptocurrency
Altcoins: alternative cryptocurrencies, such as Ethereum (ETH), Litecoin (LTC), and others
Tokens: cryptocurrencies built on top of another blockchain, such as ERC-20 tokens on Ethereum

Digital scarcity: limited supply of coins or tokens
Fast and global transactions: transactions are processed rapidly and can be sent anywhere in the world
Low transaction fees: lower fees compared to traditional payment systems
Anonymity: transactions can be made pseudonymously or anonymously

Scalability: blockchain technology can be slow and limited in terms of transaction capacity
Regulation: lack of clear regulations and guidelines for cryptocurrency and blockchain use
Security risks: vulnerabilities in smart contracts and potential for hacking
Environmental impact: high energy consumption for mining and transaction processing

A decentralized, digital ledger that records transactions across a network of computers, ensuring secure and transparent data storage.
Cryptography is used to secure and validate transactions, making it difficult to alter or manipulate the data.
A consensus mechanism is implemented, where nodes on the network agree on the state of the ledger, ensuring the integrity of the data.
Once a transaction is recorded, it becomes immutable, meaning it cannot be altered or deleted.

Decentralized control: no single entity controls the network, making it a democratic and transparent system.
Publicly visible transactions: all transactions are transparent and publicly visible, allowing for accountability.
Cryptography and consensus mechanism: ensure the security and integrity of the data, preventing unauthorized access or manipulation.
Immutable transactions: ensure that once a transaction is recorded, it becomes permanent and unalterable.

A digital or virtual currency that uses cryptography for security, ensuring the integrity of transactions.
Decentralized: no central authority controls the currency, making it a democratic and transparent system.
Uses blockchain technology to record transactions, ensuring security and transparency.

Bitcoin (BTC): the first and most well-known cryptocurrency, pioneering the concept of cryptocurrency.
Altcoins: alternative cryptocurrencies, such as Ethereum (ETH), Litecoin (LTC), and others, offering different features and improvements.
Tokens: cryptocurrencies built on top of another blockchain, such as ERC-20 tokens on Ethereum, offering flexibility and customization.

Limited supply: digital scarcity of coins or tokens, ensuring their value is maintained.
Fast and global transactions: transactions are processed rapidly, and can be sent anywhere in the world, reducing transaction times and costs.
Low transaction fees: lower fees compared to traditional payment systems, making it a more cost-effective option.
Pseudonymous or anonymous transactions: transactions can be made pseudonymously or anonymously, ensuring user privacy.

Supply chain management: tracking goods and inventory, increasing transparency and efficiency.
Smart contracts: self-executing contracts with automated rules, streamlining business processes.
Identity verification: secure and decentralized identity management, ensuring user data protection.
Healthcare: secure storage and sharing of medical records, improving patient data management.

Scalability issues: blockchain technology can be slow and limited in terms of transaction capacity, hindering widespread adoption.
Regulatory uncertainty: lack of clear regulations and guidelines for cryptocurrency and blockchain use, creating uncertainty and risk.
Security risks: vulnerabilities in smart contracts and potential for hacking, posing a threat to user data and assets.
Environmental impact: high energy consumption for mining and transaction processing, contributing to climate change.