Blockchain

Bitcoin is the first protocol to take Blockchain Technology into the limelight

Smart Contracts- Set of instructions executed in a decentralized way without the need for a centralized or third-party intermediary.

Bitcoin does have smart contracts but they are "Turing Incomplete". Ethereum also has smart contracts and that is "Turing Complete".

Bitcoin developers viewed bitcoin as a store of values v/s Ethereum developers viewed Ethereum as both store of value and a utility to facilitate these decentralized agreements.

Web1:The permissionless open-sourced web with static content

Web2:The permission web with dynamic content. Where companies run your agreements on their servers.

Web3:The permissionless wed, with dynamic content where decentralized censorship-resistant networks run your agreements and code. it generally is accompanied by the idea of user-owned ecosystems, where the protocols you interact with you also own a portion of, instead of solely being the product.

Smart Contracts: An agreement, contract, or set of instructions that are deployed on a decentralized blockchain.

Smart Contract ......

* Cannot be altered(Immutable)

* Automatically executes

* Everyone sees the terms of the agreement

Blockchain Technology enables people to make smart contracts and decentralized trust-minimize agreements.

Smart contracts and decentralized applications can access and interact with the real world using something called decentralized oracle networks (chainlink).

Chainlink is a decentralized network that allows us to build these hybrids smart contracts which combine our on-chain logic with our of chain decentralized data, and decentralized computation giving rise to our logic being completely decentralized, and our data and external computation being completely decentralized giving us all the features that traditional agreements and traditional contracts have.

Blockchain is pseudo-anonymous because the identity of a person making transactions is unknown, all of the transactions they make can be linked to the same pseudonymous identity.