At this point, you've likely heard of the crypto currency Bitcoin.

<aside> 👉 Satoshi Nakamoto (anonymous person or group) created Bitcoin in 2008 as a peer-to-peer electronic cash system. Bitcoin Whitepaper

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Here are the three things you need to know about the Blockchain technology that powers Bitcoin.

Blockchain is:

• Decentralized: Transactions are stored on multiple computers around the world, not one central one.
• Immutable: Once a transaction is recorded on the blockchain it cannot be changed.
• Open: Anyone can see any transaction on the blockchain

When Bitcoin was created, it was determined that there would only ever be 21 million. The blockchain technology behind Bitcoin is important because everyone who uses Bitcoin can see where each Bitcoin is and make sure that it is not being manipulated or the same Bitcoin is being spent more than once at the same time.

Bitcoin is important because it was the first digital version of money. It paved the way for blockchain technology, which is the foundation of Web3.

Lesson 2 → Blockchain: What is it?

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