Everyday Power- What is blockchain?

Sequoia Capital is playing catchup with arch-rival Andreessen Horowitz in the race to invest in what could be the future of the internet — so-called Web 3.0. The Silicon Valley venture capital firm led a $450 million investment in Polygon, a blockchain network.

Web 3.0 is a hazy concept in tech that refers to efforts to build a more decentralized version of the internet based on blockchain technology. It's generated quite a bit of chatter in Silicon Valley.

Hype around Web 3.0 has attracted some of the biggest names in venture capital, including Andreessen Horowitz, Tiger Global and Sequoia.

[Everyday Power]

What is blockchain?

1. The simplest way of explanation, blockchain is a specific type of database.

2. Comparing to traditional database, Blockchain orient its data in a decentralized way without individual to manage

3. It simply structures all data into blocks that are all chained together in chronological order.

4. When a block is filled, it would become immutable and formed as a part of its timeline.

5. The goal of blockchain is to allow digital information to be recorded and distributed, but not edited.

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