Then it was Marcel Pociot's turn. He is the CTO of Beyond Code, a software company in Germany that deals with creating video tools and video courses. Marcel was going to tell us more about the mysterious Web3, but at the start of his talk he first gave a clear disclaimer.
"This talk is not about cryptocurrency or NFTs, it is about the technology behind these topics."
What is Web 3.0?
Many people have heard of it, but don't know exactly what it is. Some people use it as a synonym for NFTs, to others it means something else. According to the Wikipedia page, there is no general definition of Web 3.0, so they tried to create 1 themselves.
Web 3.0 is an idea for a new iteration of the World Wide Web based on blockchain technology, which includes concepts such as decentralization and token-based economy.
What is Blockchain?
A blockchain, as the name suggests, is a chain of blocks. Each block consists of 3 pieces of information: the data, a hash and a previous hash.
The data can be anything, for example with bitcoin it consists of the sender's information, receiver's information and the amount of bitcoin being sent.
When this data is stored in the block a hash is automatically created. When the data changes the hash also changes.
The previous hash is stored in the previous block, this is needed to make the blocks a blockchain.