Blockchain in Web 3.0
Web 3.0 Highlight
Web 1.0 Birth of WWW
Web 2.0 Services derived from WWW including Google and variety of social network
Web 3.0 As internet giants like Amazon, Microsoft dominate the market, more and more new start-ups hard to survive, a decentralized world gradually required to be built. Which makes Web 3.0 as an important technology component in blockchain.
What is Blockchain
Blockchain is a shared, immutable ledger that lets you record the history of transactions. By establishing trust, accountability and transparency, it transforms the way we carry out transactions. Chain is a very simple form of data structure, a way of storing data. That's why people also describe blockchain as a database but it is different from traditional databases like Oracle, MySql. Take Ethereum as an example, blockchain in fact is a decentralized network of computers /nodes. On this network, permissioned users are able to manage, adjust and restore new entries. To make sure that all transactions are valid, nodes (network members) confirm that all participants are in agreement. Once this consensus is reached, the records are recorded permanently, users unable to delete or change records at any time. Therefore, blockchain is a decentralized databases controlled and maintained by all the nodes in this network.
However, a traditional database uses a central server that allows users to alter items. It grants DBA the full control of databases which means they have the responsibility of delegating access and granting permission to users.
Write your own smart contract
Smart contract is the word generated from Ethereum, they extract basic framework from bitcoin, blockchain. Apart from all the features got from blockchain, it features smart contracts,the Ethereum Virtual Machine (EVM) and it uses its currency called ether for peer-to-peer contracts. The smart contract applications are powered by ether,Ether as well as other crypto-assets, are held in the Ethereum Wallet, which allows you to create and use smart contracts.
Smart contracts is written in solidity, it mainly consists of four parts: smart contract address; balance; code; status. Smart contract features its own Turing complete internal code, which means that anything can be calculated with enough computing power and enough time in smart contract.
Video link:
https://www.youtube.com/watch?v=aPVmd7SyKfQ&t=478s
