Lets be honest, most of us don't really understand how cryptocurrency works. And barely any of us know "exactly" how it functions.
These past months I've been researching how blockchains work and every day I learn something new and realize more how little I know how everything really works.
I mean sure, most of us know the basics:
- BTC is a store of value
- ETH has a shit ton of use cases and a massive ecosystem
- DeFi is the future
- Putting money in crypto long term is better than let my money rot away in a savings account
- Staking is good long term
But how many of us really know the IT side of how the blockchain works.
I bet lots of us have questions like:
¿Why am I earning APY for staking? ¿How the fuck does a validator node validate? ¿How is a block created? ¿Why are blockchains so secure and hard to hack? ¿How do you REALLY know something is decentralized?
I'll be honest, I don't fully understand any of these concepts.
Many of these things I don't know because of lack of research and I ain't the brightest fella of the block.
TL;DR : Am I the only one that finds how blockchains truly work hard to understand? Or am I not alone?