Learn all you need to know about Blockchain
The BSV blockchain is poised to impact data at a global level across an array of industries. Learn about our vision for the future in industries listed below.
Discover what you need to know to build on the BSV blockchain, and its underlying philosophy. And it’s not just technology. We’ve got guidance on legal and economic topics too.
More than a buzzword, Web3 is the next stage of the Internet’s development.
Frequently asked questions
What is blockchain?
Blockchain is a distributed digital ledger that securely records transactions across multiple computers. This ensures transparency and prevents fraud. Once verified, data cannot be altered, making it ideal for sectors like finance, healthcare, and manufacturing. The BSV blockchain further builds on this by offering fast, scalable transactions while enabling smart contracts, secure transfers and immutable records – all with a low environmental footprint.
How does blockchain work?
A blockchain works by storing data in blocks that are linked in a chronological chain. Once data is recorded, it cannot be altered without agreement from the rest of the network, ensuring security and trust.
What is the difference between blockchain and Web3?
Blockchain is the underlying technology, while Web3 builds on top of the blockchain to create decentralised applications (dApps) and enable user-owned internet experiences.
What are NFTs?
Non-fungible tokens (NFTs) are unique digital assets that represent ownership or proof of authenticity of a specific item on the blockchain. This can include anything from artwork to music to collectables. Unlike crypto assets, NFTs are not interchangeable because each one is distinct and cannot be replaced with another.
What is Web3?
Web3 is a term used to describe the next version of the Internet, known as the Metanet, powered by blockchain. The Metanet enables a more efficient, transparent and monetisable data ecosystem than the current Web2 Internet.
What are the benefits of blockchain?
Blockchain offers benefits like enhanced security, transparency, efficiency, and the elimination of third parties. It can be used for everything from financial transactions to supply chain management and voting systems.
What is a smart contract?
A smart contract is a self-executing program on a blockchain which automatically enforces agreements when predefined conditions are met without needing third parties.
How are digital assets related to blockchain?
Digital assets are anything of value that exists in digital form, such as crypto assets, tokens, or digital records, which are stored and managed on a blockchain. Blockchain provides a secure, transparent, and distributed platform for creating, transferring, and verifying the ownership and integrity of these digital assets.
What are dApps?
Decentralised applications (dApps) are applications that run on a blockchain rather than a centralised database. They typically operate using smart contracts, offering greater transparency, security, and user control while removing the need for third parties.
What are the risks of blockchain?
The risks for most blockchains include scalability challenges, high energy consumption, and the potential for hacking or exploitation in poorly designed smart contracts. However, the BSV blockchain is capable of massively scaling to handle millions of transactions per second, which means the CO2 produced per transaction is significantly lower than other competing blockchains.
