This post “explains like I’m five” core crypto concepts: web 3, blockchain (wallets, consensus), tokens, bitcoin, ethereum, NFTs, and DAOs. Let's go down the rabbit hole together.
For Proof of Stake - "Other validators check if the block is valid. If it is, all participating validators earn a transaction fee. If it’s not, the validator that created the block might lose its stake."
Aren't validators in this scenario just another type of middle man? Banks are the middle man today and take a transaction fee, and validators are doing the same to process the transaction. I'm sure that's an inaccurate analogy, but i'm not sure how.. How do you think about validators and transaction fees in relation to processes we have today?
Hi Peter, lovely primer on everything web3, blockchain, and crypto! You might want to fix the hyperlink for Blockchain 101 video, part 2. It's the same as part 1!
this post was so educational and concise - ty!
For Proof of Stake - "Other validators check if the block is valid. If it is, all participating validators earn a transaction fee. If it’s not, the validator that created the block might lose its stake."
Aren't validators in this scenario just another type of middle man? Banks are the middle man today and take a transaction fee, and validators are doing the same to process the transaction. I'm sure that's an inaccurate analogy, but i'm not sure how.. How do you think about validators and transaction fees in relation to processes we have today?
Hi peter, I really appreciate that you posted helpful article to learn about blockchain.
Can I translate in Korean and post on my blog? Of course, I'm gonna refer your article.
Thank you!
Hi Peter, lovely primer on everything web3, blockchain, and crypto! You might want to fix the hyperlink for Blockchain 101 video, part 2. It's the same as part 1!