What is a blockchain?

Find out how AmazeChain is shaking up the blockchain industry!
what is a blockchain amazechain

Hey there, digital enthusiast! It’s us, AmazeWallet, back with another deep dive into the intriguing world of Web3. This time, we’re looking at blockchains. 

What is a blockchain?

If you’ve heard of Bitcoin or Ethereum, you’ve undoubtedly heard of the technology underpinning them: blockchain. But what exactly is this seemingly magical tech, and why does it matter? Let’s break it down.

In the simplest terms, a blockchain is a kind of digital ledger, a record-keeper, if you will. It’s an ever-growing chain of blocks (hence the name) where each block contains transaction data. But what sets it apart from your typical spreadsheet is its decentralization. There’s no central authority overseeing this ledger – instead, it’s distributed across a network of computers, making it incredibly transparent and secure. 

This revolutionary tech was first outlined in 2008 by an anonymous figure (or group) known as Satoshi Nakamoto, primarily to support the cryptocurrency Bitcoin. But blockchain has evolved beyond just powering cryptocurrencies, stretching its influence across various sectors, from supply chains to healthcare.

What is AmazeChain?

Now, enter AmazeChain, the beating heart of the AmazeWallet ecosystem. Our Layer 1 blockchain follows the same decentralization principle but with a unique twist. We use a unique miner verification structure involving proposal, verification, and final confirmation, bringing unparalleled security and efficiency.

AmazeChain’s proposal phase involves a complex sorting and checking process, while the verification phase turns every device connected to the network into potential verifiers, making the process swift and energy-efficient. Smartphones can contribute to the verification process – a feature we refer to as “mobile mining”. 

The final phase is the confirmation, which merges the verification results, ensuring the system’s validity and robustness against potential collusion. This means you can rest easy knowing your transactions and data are in safe hands.

And here’s the cherry on top: the Zero-Knowledge Ethereum Virtual Machine (ZK-EVM), an integral part of AmazeChain, verifies program execution correctness in a zero-knowledge manner. So each node no longer has to repeat thousands of transactions; only a small verification computation is needed to ensure their correctness.

AmazeChain is the future of decentralization

The beauty of blockchain is in its transformative potential, and with AmazeChain, we’re pushing the boundaries of what’s possible with this new technology. By using AmazeWallet, powered by the amazing AMT tokens, you’re not just experiencing this transformation; you’re a part of it. 

With AmazeChain, we’re rewriting the rules of blockchain technology, decentralizing power and putting it back in the hands of the users; people like you, our wonderful reader! And we, at AmazeWallet, couldn’t be more excited about what the future holds.

Remember, blockchain is not just a technology; it’s a new way of approaching the world, and with AmazeWallet and AmazeChain, you’re well-equipped to conquer it. Here’s to an amazing journey ahead!

Until next time, stay curious, stay amazed!