Welcome to Blockchain Basics
Blockchain has been described as one of the most significant technological advances in modern history, potentially on a par with the internet, which has led to it being dubbed “The Internet 3.0”. Despite the incredible potential of blockchain to reshape the world as we know it, there is still little understanding of what it is, what it does and why it is so revolutionary.
The struggle in understanding blockchain technology is partly down to the fact that it requires a grasp of certain terms and how technologies are used. There is arguably a lack of information that breaks down the subject without expecting an understanding of considerable technical terminology. The Lisk Academy has been created to change this.
The goal of the Blockchain Basics module of the Lisk Academy is to have a student be able to explain blockchain technology to anyone else, after less than 10 minutes of reading, while also offering the chance to learn about the technology in greater detail.
Blockchain Basics opens with What is Blockchain?, a broad and easily understood explanation of blockchain technology, as well as the history of value itself. Having an understanding of the value is especially important in grasping how blockchain and cryptocurrencies have the potential to reshape the financial industry.
There is also an ELI5 (Explain Blockchain Like I'm 5 Years Old) segment in this part of the Lisk Academy. This is the simplest part of the Lisk Academy. It allows anyone to grasp the foundations of blockchain technology without any technical knowledge.
How Does Blockchain Work? is a deeper dive into the technologies upon which blockchain is built. In this part of the Academy a reader can begin to grasp the individual pieces that make up blockchain and how they work together. There still remains a focus on keeping these technical aspects of the technology as simple as possible.
Benefits of Blockchain explains the values that blockchain supports. For many people blockchain is more than a technology, it represents the potential to create a new, fairer system of transaction and interaction. This part of the Academy examines the individual principles that blockchain enforces and how they contribute to such ideas.
Blockchain Use Cases explains use cases for blockchain, both current and future, and how it could improve the world that we live in, sooner than many people might expect. This demonstrates that blockchain technology has real use cases today and that due to how superior it is to the systems we currently have, it is only a matter of time before it becomes widely adopted around the world.
After completing all of these chapters a student of the Lisk Academy will have a more detailed understanding of blockchain technology than the vast majority of people in the world.