OKX Blockchain 60 Lectures | Episode 60: Final Summary: How to Understand "Blockchain"?
Hello everyone, this is Xiao K. In our previous videos, we covered blockchain technology, history, applications, and more. As the final episode of this entire series, today we will provide a comprehensive summary of all previous episodes. So the topic today is: "Final Summary: How to Understand 'Blockchain'?"
Blockchain, from a technical perspective, is an immutable distributed database. It uses multiple core technologies including distributed ledgers, consensus mechanisms, cryptography, and smart contracts to ultimately solve the trust problem in networks. We already explained these concepts in detail in the technology episodes.
In addition, blockchain — much like the internet — is not merely a technology, but also a model and a way of thinking. If the internet represents efficiency and centralization, then the philosophy embodied by blockchain is transparency, trustworthiness, and decentralization.
Ten years ago, when Satoshi Nakamoto wrote the Bitcoin whitepaper, the genes of blockchain were already determined. At that time, we wanted people to trust each other more and to distribute power more broadly. This is why blockchain technology exhibits characteristics such as transparent and trustworthy data and decentralized networks. However, in the early days, Bitcoin was merely a product of the cypherpunk community and could not influence a wider audience.
It was not until 2015, with the emergence of Ethereum, that people truly began to believe: blockchain is a model that, much like the early internet, has the opportunity to disrupt and restructure various industries. But this expectation was too grand, so after the blockchain revolution of 2017 and the market correction of 2018, blockchain finally became a mature application model.
To this day, blockchain is bringing new changes to the world: for example, the $69 million NFT artwork, and the trillion-dollar decentralized financial market created by DeFi — all are scenarios original to blockchain. Beyond this, blockchain can also enter fields that traditional internet cannot handle, such as copyright, user data, and gaming. So change is happening, and we believe that in the future, blockchain — just like the internet once did — will truly transform the world.
Special thanks to Jiu Mei, Director of Key Accounts at OKX, for the assistance and guidance provided for this episode.
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