2025-08-24 13:27 Tags:Web3

What is blockchain

A blockchain is a database of transactions that is updated and shared across many computers in a network. Every time a new set of transactions is added, its called a “block” - hence the name blockchain. Public blockchains like Ethereum allow anyone to add, but not remove, data. If someone wanted to alter any of the information or cheat the system, they’d need to do so on the majority of computers on the network. That is a lot! This makes decentralized blockchains like Ethereum highly secure.

What is Cryptocurrency

Cryptocurrency is a term used to describe many types of fungible digital tokens secured using a blockchain. It all started with Bitcoin. Bitcoin can be used to transfer value between two parties without having to trust a middleman. You only have to trust the Bitcoin code, which is all open and freely available.

The reason assets such as bitcoin and ether are called “cryptocurrencies” is that the security of your data and assets is guaranteed by cryptography, not by trusting an institution or corporation to act honestly.

Who runs Ethereum?

Ethereum is not controlled by any particular entity. It exists whenever there are connected computers running software following the Ethereum protocol and adding to the Ethereum blockchain. Each of these computers is known as a node. Nodes can be run by anyone, although to participate in securing the network you have to stake ETH (Ethereum’s native token). Anyone with 32 ETH can do this without needing permission.