FAQs
What is decentralization?
Not to be confused with distributed computing, in a decentralized network, all nodes ensure that all transactions are executed locally and verified in consensus with every other node.
What is a dApp?
Decentralized applications, commonly known as dApps, are applications that run on a peer-to-peer network of computers rather than a single computer. dApps run on a or a decentralized network, which helps to prevent single points of failure and offers resistance against control by any single entity.
What are smart contracts?
The backbone of dApps, smart contracts are self-executing contracts with the terms of the agreement directly written into code. They automatically enforce and execute the terms of agreements as programmed without human intervention.
What is Asset Tokenization?
Tokenization of real-world assets involves turning physical assets and rights into digital tokens that can be efficiently managed and transferred on a distributed ledger. This approach revolutionizes asset management, supply chain logistics, and even funding for defense-related projects by leveraging the security, transparency, and efficiency of blockchain technology.
What happens if a node goes offline?
If a node loses a persistent network connection, the rest of the network continues to operate normally as long as there are sufficient nodes online to maintain the network's consensus requirements. When the node reconnects, it reconstructs the latest state by applying all transactions from the blocks it missed. Once fully synced, the node can resume its normal operations.
What is Web3?
Web3 is the third generation of the internet, where decentralized networks and blockchain technologies empower users with ownership and control over their data, identities, and transactions, moving away from centralized platforms.