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The ALANA ProjectCentralized vs. Decentralized Exchanges Explained
We are back with more; this time, let’s have a look at centralized vs. decentralized cryptocurrency exchanges, how each works, and how they are different. Imagine two bustling marketplaces in a city, each with its own unique character and offerings. One is a large, well-organized mall, with security guards at the entrance and a central management team overseeing everything. The other is an open-air market with a huge variety of stalls run by individual vendors, each responsible for their own ...
The ALANA ProjectProof-of-Work vs Proof of Stake
As you know from our last article, blockchain technology relies on consensus mechanisms to validate transactions and maintain security. Two of the most prominent mechanisms are Proof-of-Work (PoW) and Proof-of-Stake (PoS). To simplify these concepts, we will be using another set of metaphors from the creative world. Ready? Let’s go!Proof-of-Work: The Artisan's CraftMetaphor: A Master Artisan Imagine a master artisan creating a unique piece of art. This artisan must source rare materials,...
The ALANA ProjectWeb3 Grants Explained
We are currently in the midst of the Gitcoin GG22 Grant season, and it felt appropriate to tell you more about Web3-based grant systems. Similar to DeFi (Decentralized Finance), grants come with their native vocabulary, which is important to know in order for you to get involved. Generally, a grant is a financial award provided by an individual, organization, or government agency to a recipient, typically for a specific purpose, such as funding a project or research. Grants are a particular f...
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The ALANA ProjectCentralized vs. Decentralized Exchanges Explained
We are back with more; this time, let’s have a look at centralized vs. decentralized cryptocurrency exchanges, how each works, and how they are different. Imagine two bustling marketplaces in a city, each with its own unique character and offerings. One is a large, well-organized mall, with security guards at the entrance and a central management team overseeing everything. The other is an open-air market with a huge variety of stalls run by individual vendors, each responsible for their own ...
The ALANA ProjectProof-of-Work vs Proof of Stake
As you know from our last article, blockchain technology relies on consensus mechanisms to validate transactions and maintain security. Two of the most prominent mechanisms are Proof-of-Work (PoW) and Proof-of-Stake (PoS). To simplify these concepts, we will be using another set of metaphors from the creative world. Ready? Let’s go!Proof-of-Work: The Artisan's CraftMetaphor: A Master Artisan Imagine a master artisan creating a unique piece of art. This artisan must source rare materials,...
The ALANA ProjectWeb3 Grants Explained
We are currently in the midst of the Gitcoin GG22 Grant season, and it felt appropriate to tell you more about Web3-based grant systems. Similar to DeFi (Decentralized Finance), grants come with their native vocabulary, which is important to know in order for you to get involved. Generally, a grant is a financial award provided by an individual, organization, or government agency to a recipient, typically for a specific purpose, such as funding a project or research. Grants are a particular f...
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Share Dialog
First of all, and to clarify, there is no such thing as ‘The Blockchain.’ There are actually hundreds of different blockchains. But to take it one step at a time, let’s look at the general concept of one blockchain, again utilizing a more relatable metaphor from the realms of fashion:
Imagine a fashion show where each model represents a block in the blockchain. As the models walk down the runway, they are wearing outfits that represent the data or transactions being recorded. Each model has a unique ID tag, which is like the cryptographic hash that identifies each block in the blockchain.
The runway represents the blockchain, where the models (blocks) are lined up in a specific order. As each model walks down the runway, they are added to the end of the line, creating a continuous chain of models (blocks).
The audience members represent the nodes or computers in the blockchain network. They are all watching the fashion show and can see the models (blocks) as they walk down the runway. Each audience member has a copy of the runway, so they can all see the same models in the same order.
The security guards represent the cryptography used in blockchain technology. They ensure that each model (block) is authentic and has not been tampered with. If a model tries to change their outfit (data) or their ID tag (hash), the security guards will stop them and remove them from the runway.
Now, let's introduce the fashion experts who represent the validators in the blockchain network. These experts are seated in the front row of the audience, and they have a special role to play. As each model (block) walks down the runway, the fashion experts (validators) carefully examine their outfits (data) and ID tags (hash). They verify that the model (block) is authentic and has not been tampered with. If the fashion experts (validators) are satisfied, they give a thumbs up, signaling that the model (block) can be added to the chain. The fashion experts (validators) are essential to the integrity of the fashion show (blockchain) because they ensure that only authentic and valid models (blocks) are added to the chain. Their role is crucial in maintaining the transparency, security, and immutability of the fashion show (blockchain).
Let’s first take a look at the general benefits before heading into more specific examples of how Blockchain supports creators specifically:
Transparency: Everyone in the audience can see the models (blocks) as they walk down the runway, and the fashion experts (validators) provide an additional layer of verification.
Security: The security guards (cryptography) and the fashion experts (validators) work together to ensure that the models (blocks) are authentic and have not been tampered with.
Immutability: Once a model (block) has been verified by the fashion experts (validators) and added to the runway (blockchain), their outfit (data) and ID tag (hash) cannot be changed.
Traceability: Each model (block) has a unique ID tag (hash), and the fashion experts (validators) keep track of their movements down the runway (blockchain).
Decentralization: No single person controls the fashion show (blockchain), and the fashion experts (validators) are distributed throughout the audience (network).
Let’s face some specifics and explain why Blockchain technology is, in fact, so important and helpful to an individual creator.
Blockchain's immutable ledger and cryptographic security can help protect creators' work from unauthorized use for AI training datasets. The transparent nature of blockchain makes it harder for companies to scrape and exploit creator content without consent.
Blockchain-based decentralized social media (such as Farcaster & Lens) and content platforms (too many to list) allow creators to directly connect with and be compensated by their audience without intermediaries taking a large cut. Not only does it allow for direct connections, but it also protects creators from being deplatformed, their private data being stored, used, and sold, and much more.
Blockchain-based smart contracts can automatically track usage and distribute royalties to creators, ensuring they are fairly compensated whenever their work is accessed or used. This increases transparency and reduces the potential for royalty disputes or underpayment.
We hope this article helps to clarify a little bit further what Blockchain technology is all about, how it works, and why it matters.
If you would like to receive some more light and understandable resources concerning Web3, subscribe to the bi-weekly ALANA ⚡NewsFlash⚡:
https://xyz.us8.list-manage.com/subscribe?u=fc76daa44647638a773d3c4d5&id=bf22918a9b
First of all, and to clarify, there is no such thing as ‘The Blockchain.’ There are actually hundreds of different blockchains. But to take it one step at a time, let’s look at the general concept of one blockchain, again utilizing a more relatable metaphor from the realms of fashion:
Imagine a fashion show where each model represents a block in the blockchain. As the models walk down the runway, they are wearing outfits that represent the data or transactions being recorded. Each model has a unique ID tag, which is like the cryptographic hash that identifies each block in the blockchain.
The runway represents the blockchain, where the models (blocks) are lined up in a specific order. As each model walks down the runway, they are added to the end of the line, creating a continuous chain of models (blocks).
The audience members represent the nodes or computers in the blockchain network. They are all watching the fashion show and can see the models (blocks) as they walk down the runway. Each audience member has a copy of the runway, so they can all see the same models in the same order.
The security guards represent the cryptography used in blockchain technology. They ensure that each model (block) is authentic and has not been tampered with. If a model tries to change their outfit (data) or their ID tag (hash), the security guards will stop them and remove them from the runway.
Now, let's introduce the fashion experts who represent the validators in the blockchain network. These experts are seated in the front row of the audience, and they have a special role to play. As each model (block) walks down the runway, the fashion experts (validators) carefully examine their outfits (data) and ID tags (hash). They verify that the model (block) is authentic and has not been tampered with. If the fashion experts (validators) are satisfied, they give a thumbs up, signaling that the model (block) can be added to the chain. The fashion experts (validators) are essential to the integrity of the fashion show (blockchain) because they ensure that only authentic and valid models (blocks) are added to the chain. Their role is crucial in maintaining the transparency, security, and immutability of the fashion show (blockchain).
Let’s first take a look at the general benefits before heading into more specific examples of how Blockchain supports creators specifically:
Transparency: Everyone in the audience can see the models (blocks) as they walk down the runway, and the fashion experts (validators) provide an additional layer of verification.
Security: The security guards (cryptography) and the fashion experts (validators) work together to ensure that the models (blocks) are authentic and have not been tampered with.
Immutability: Once a model (block) has been verified by the fashion experts (validators) and added to the runway (blockchain), their outfit (data) and ID tag (hash) cannot be changed.
Traceability: Each model (block) has a unique ID tag (hash), and the fashion experts (validators) keep track of their movements down the runway (blockchain).
Decentralization: No single person controls the fashion show (blockchain), and the fashion experts (validators) are distributed throughout the audience (network).
Let’s face some specifics and explain why Blockchain technology is, in fact, so important and helpful to an individual creator.
Blockchain's immutable ledger and cryptographic security can help protect creators' work from unauthorized use for AI training datasets. The transparent nature of blockchain makes it harder for companies to scrape and exploit creator content without consent.
Blockchain-based decentralized social media (such as Farcaster & Lens) and content platforms (too many to list) allow creators to directly connect with and be compensated by their audience without intermediaries taking a large cut. Not only does it allow for direct connections, but it also protects creators from being deplatformed, their private data being stored, used, and sold, and much more.
Blockchain-based smart contracts can automatically track usage and distribute royalties to creators, ensuring they are fairly compensated whenever their work is accessed or used. This increases transparency and reduces the potential for royalty disputes or underpayment.
We hope this article helps to clarify a little bit further what Blockchain technology is all about, how it works, and why it matters.
If you would like to receive some more light and understandable resources concerning Web3, subscribe to the bi-weekly ALANA ⚡NewsFlash⚡:
https://xyz.us8.list-manage.com/subscribe?u=fc76daa44647638a773d3c4d5&id=bf22918a9b
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