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Latricia Nickelberry
Latricia Nickelberry

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Blockchain Technology

I have been really diving deep into learning about the blockchain and how to become a blockchain developer. The technology is fascinating and we are only at the beginning of it all. I would like to discuss more in depth about what the blockchain is.

The blockchain is a system that is designed to keep track of records in away that you cannot change it. The blockchain is distributed amongst the whole network. Every time a new block is added, the computers on the network are updated to reflect those changes. In a nutshell blockchain is a database that stores all the information. What makes it really cool is that it is not controlled by a central location. In fact, the blockchain is decentralized. This means that all the computers on the network has to agree amongst the new blocks that are added to the blockchain.

I look at the blockchain as something that is transparent and always open. You see now a lot of Defi applications being built, mainly on Ethereum. On a lot of the applications the interest rates are much higher than your traditional banks. I will say the gas fees right now to make a transaction are really high, but I believe Ethereum 2.0 is suppose to solve that issue. What I am trying to say is that you always have access to your funds or able to make trades. I think that concept is really cool. Like I said it is still at the beginning stages of this technology and that is why I find it really fascinating. I cannot wait to see where this technology leads us in the future. I will be writing more blogs about this technology.

Happy coding!

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