Why blockchain?

What is a blockchain?

Blockchain is famously known for underpinning cryptocurrency’s security through decentralisation. While this concept may seem ironic, decentralisation means the storage of data transaction ledgers across the whole network without any central server. This approach eliminates a single point of failure, as the ledgers are distributed throughout the network. By the name itself, blockchain chains the blocks of ledgers across the network.

Essentially, blockchain replaces centralised security systems with a public security framework. Although not entirely secure, this decentralised model offers several essential properties.

Blockchain Properties

• Decentralisation
• Transparency
• Immutability
• Security
• Consensus Mechanism
• Scalability
• Programmability
• Anonymity/Privacy

Why did I choose to study blockchain?

Being interested in blockchain was a natural stepping from knowing what Metaverse is. A metaverse is a digital world, so should use a digital currency (cryptocurrency), and digital assets (NFT).

As I was deeply inspired by the metaverse and NFT by researching since the EPQ, I extensively wrote an article titled “Love and Aversion in the Face of the Metaverse” for the Cherwell Journal.

Love and Aversion in the Face of the Metaverse

How to study blockchain?

I find it easier to learn about complex concepts like blockchain by first exploring their tangible applications, such as NFTs or cryptocurrencies. Understanding these end-products helps clarify how blockchain functions, allowing me to grasp its underlying mechanisms more effectively.

My Studies

Published my first NFT Collection on the Opensea

To convey my research hypothesis more reasonably, I created my NFT collection on the most respected NFT marketplace. Benchmarking the leading NFT creators like Bored Ape Yacht Club, Doodles, etc. I also adopted an NFT random generator to ensure the rareness of specific NFTs.

YouTube channel for marketing the NFT collection

It was a great experience to mimic what the NFT creator did.

Conclusion

In my view, technology is a field where continuous learning is essential; without it, entering the tech world is nearly impossible. NFT collection was my first step into their world of blockchain, which I see as more than just a passing trend. Instead, I believe they will gradually replace the traditional method and force us to adopt to their world.