📖
HolaWiki
  • Welcome to Holaplex!
    • What is Holaplex?
    • Why should I use Holaplex?
    • Why does Holaplex build on Solana?
  • FAQ
    • FAQ
    • Key Terms
    • What is a Blockchain?
    • How Does a Blockchain Work?
    • What is Blockchain Software?
    • What is a Blockchain Application?
    • What is decentralized finance (DeFi)
    • What is Crypto?
    • What is a Token?
    • What is a Wallet?
    • What is SOL?
    • What is an NFT?
    • How do I Unwrap SOL in Phantom?
    • How do I Bulk Mint?
    • How Do I Burn NFTs?
  • Minting
    • Minting
    • What Types of NFTs Can I Mint with Holaplex?
    • Minting Parameters
    • How do I give my NFT Attributes?
    • How Many Editions of an NFT Can I Create?
    • How to Mint on Holaplex
    • Creating an NFT Collection
  • Marketplaces
    • Marketplaces
    • What is the difference between a marketplace and a storefront?
    • How Do I Create a Generative Set for a Marketplace?
    • How to Setup a Marketplace
    • How to Edit Marketplace
    • How to Make an Offer
    • Viewing Live Offers
    • Canceling Offers
    • Adding Co-Creators
  • Profiles
    • Profiles
    • Collected
      • Where Can I Find NFTs to Collect?
      • View NFTs you have collected
      • Update Collected NFT Listing
      • List an NFT you collected for Sale
    • Created
      • How Do I Create an NFT?
      • View NFTs you have created
      • Update Created NFT Listing
      • List NFTs you have Created for Sale
    • Offers
      • Where Can I find Profiles to Make Offers on NFTs?
      • Cancel Offers on Profiles
      • Make Offers on Profiles
      • View Offers on Profiles
    • Activity
      • Find Lost Auction Bids
      • See Placed Bids
      • Find Won Auctions
  • Storefronts
    • Storefronts
    • General
      • How do I Create a Storefront?
      • How do I Edit my Storefront?
      • How to Add Co-Creators?
    • Minting NFTs
      • What Types of NFTs Can I Mint with Holaplex?
      • How Do I Mint on Holaplex?
      • Minting Parameters
      • How do I give my NFT Attributes?
      • How Many Editions of an NFT Can I Create?
    • Buying NFTs
      • Lost Auction -- How Do I Refund my Bid
      • How to Find Bids on Lost Auctions
      • How to Refund Bid
      • How to Bid on an Auction
    • Selling NFTs
      • How Do I Sell NFTs on Storefronts?
      • Sale Types
      • What are Participation NFTs?
    • Redeeming NFTs
      • Won Auction -- How do I Claim NFT?
      • Can't Find NFT?
      • Claim NFT of Failed Auction
    • Settling Auctions
      • Settling Storefront Funds
Powered by GitBook
On this page
  1. FAQ

What is a Blockchain?

. A blockchain is a distributed, cryptographically-secure database structure that allows network participants to establish a trusted and immutable record of transactional data without the need for intermediaries. In simple terms, it is a database that is not stored centrally with one person, but rather distributed across several people’s systems. A blockchain can execute a variety of functions beyond transaction settlement, such as smart contracts. Smart contracts are digital agreements that are embedded in code and that can have limitless formats and conditions. Blockchains have proven themselves as superior solutions for securely coordinating data, but they are capable of much more, including tokenization, incentive design, attack-resistance, and reducing counterparty risk. So, now, you may ask how do they decide whether the records entering a blockchain is true/right or not? Because our blockchains deal with financial information, it is crucial that they get it right. Most blockchains have a consensus mechanism which they use to get it right. Bitcoin has proof-of-work, where miners have to solve complex mathematical puzzles in order to qualify in approving a transaction. Solana has proof-of-history and proof-of-stake. Almost all blockchains have a consensus mechanism, which is a way in which all participants agree that the information in a blockchain is true and valid.

PreviousKey TermsNextHow Does a Blockchain Work?

Last updated 3 years ago