Section 03
How Blockchains Work
Blocks, consensus, mining, staking and fees: the machinery underneath every transaction.
Start with “What is a blockchain?”3 lessons · about 13 minutes in total
- 1What is a blockchain?A blockchain is a shared ledger that many computers keep in sync, where each new batch of records is cryptographically linked to the last.Beginner4 min read
- 2Proof of work vs. proof of stakeProof of work secures a network with computing power and electricity. Proof of stake secures it with coins locked up as collateral.Intermediate5 min read
- 3Gas fees, explainedGas fees are what you pay to have a transaction processed. They rise when the network is busy because users compete for limited block space.Beginner4 min read
Terms you’ll meet in this section
Next section: DeFi