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Comprehensive Resources for Understanding Medallion Network

Explore key concepts like digital credentials, microcredentials, data security, open-source, blockchain, and network protocols. Share feedback in comments!


Medallion Network uses a set of concepts and rules that might not be familiar to everyone. Understanding these key concepts ensures you grasp why Medallions are unique, verifiable and secure. Do you have any other questions? Feel free to add them in the comments.

Definitions you will find in the article:

What are Digital Credentials?

Digital credentials are digital representations of achievements, skills, or qualifications. They are typically issued by educational institutions, professional organizations, or other credentialing bodies. These credentials can take various forms, including digital badges, certificates, and transcripts, and are often stored and shared electronically.

For example:

Imagine you finished an online course about coding. Instead of getting a paper certificate, you get a digital badge. This badge shows what you learned and can be shared on your LinkedIn profile or emailed to potential employers to show your new skill.

What are Micro Credentials?

Micro Credentials are small, focused certificates that show you’ve learned a specific skill or piece of knowledge. They are quicker and more targeted than traditional degrees or diplomas.

For example:

Imagine you want to learn how to use a new software tool for your job. You take a short online course and earn a microcredential that shows you’re skilled with that tool. You can add this to your resume or LinkedIn profile to show employers you have this specific, valuable skill.

What does Open-Source mean?

Open-source means that the "recipe" for a computer program is shared with everyone. Imagine you have a secret recipe for your favorite cookies. If you make it open-source, you share the recipe with everyone, so they can make the cookies too, change the recipe to make it better, or create new kinds of cookies.

For computer programs, open-source means:

Free to Use: Anyone can use the program without paying.
Free to Change: Anyone can look at the program's code (the instructions that make it work) and change it to do new things or work better.
Free to Share: Anyone can share the program with others, including any changes they made.

This way, many people can work together to make the program better and share their improvements with everyone else.

What does Vendor-Neutral mean? 

Vendor neutral means that something, like a product, service, or standard, is not tied to a specific company or brand. It can work with different vendors or brands without any issues. 

Why it's Important:

1. Flexibility: You can choose from various products or services that best meet your needs without being locked into one company's offerings.

2. Interoperability: Different systems and products can work together seamlessly, which is especially important in technology where you might have equipment or software from multiple vendors.

3. Cost-Effectiveness: You can shop around and compare prices from different vendors, potentially saving money.

4. Future-Proofing: As technology changes, being vendor neutral means you can easily adapt and incorporate new products or services without being restricted by a single vendor's ecosystem.

For example:
Imagine you have different types of toys, and they all use the same kind of batteries. You can buy any brand of batteries, and they'll work with all your toys. This is better than if your toys only worked with one brand of batteries, which might be more expensive or harder to find. Being vendor neutral means you have more choices and flexibility.

Why is it important to secure your data?

Securing your data is important because it keeps your personal information safe from people who shouldn't have it. Here are a few reasons why:

1. Privacy: Just like you wouldn't want strangers reading your diary, you don't want them seeing your private information, like messages, photos, or where you live.

2. Safety: Protecting your data helps keep you safe from bad people who might try to steal from you or pretend to be you.

3. Trust: If you share information with a website or an app, you want to be sure they will keep it safe and not let it get into the wrong hands.

4. Preventing Problems: If someone gets your personal data, they could cause problems, like spending your money or damaging your reputation.

For example:

Think of it like locking the doors to your house. You lock your doors to keep your belongings safe and to make sure only the right people can come in. Securing your data does the same thing for your information.

What is a Network Protocol?

A network protocol is like a set of rules that helps computers talk to each other. Imagine you're playing a game with friends, and you all need to follow the same rules to play correctly. Network protocols are the rules that computers follow so they can send and receive information, like emails, web pages, or videos, without getting confused.

For example:

IP (Internet Protocol): Like an address on a letter, it helps send data to the right computer.
TCP (Transmission Control Protocol): Makes sure the data gets to the right place safely, like checking if all puzzle pieces are there.
HTTP (Hypertext Transfer Protocol): The rules for sending and getting web pages, like how you ask for a book and get it from a library.

These rules make sure everything works smoothly and everyone (or every computer) understands each other.

What is Blockchain Technology?

Blockchain technology is a way to securely record and store information so that it can't be easily changed or tampered with. Think of it like a digital ledger or a notebook where you write down important information, but once you write something down, it stays there forever, and everyone can see it. 

Key Features:

1. Decentralized: Instead of one person or company controlling the notebook, many people (or computers) have a copy of it, and they all work together to keep it up-to-date.
   
2. Immutable: Once information is written in the notebook, it can't be erased or changed. This makes it very secure and trustworthy.

3. Transparent: Everyone who has a copy of the notebook can see all the information in it, which makes it easy to verify that everything is correct.

How It Works:

1. Blocks: Information is stored in "blocks." Each block contains a list of transactions or data.
   
2. Chain: These blocks are linked together in a "chain," with each block connected to the one before it. This connection is done using complex math called cryptography.

3. Consensus: Before a new block can be added to the chain, everyone in the network must agree that the information in the block is valid. This process is called "consensus."

Why It's Important:

1. Security: Because it's nearly impossible to change information once it's been added to the blockchain, it's very secure against fraud and tampering.
   
2. Trust: Since everyone can see and verify the information, there's a high level of trust in the accuracy of the data.

3. Decentralization: No single person or organization controls the blockchain, making it more resilient and less prone to corruption.

Example:

Imagine you and your friends are keeping track of who owes money for a group pizza order. Instead of one person writing everything down, everyone has a copy of the list. Before anyone adds a new IOU to the list, everyone has to agree that it's correct. Once it's added, no one can change it, so everyone trusts that the list is accurate and fair.

Blockchain technology is used in various applications, from cryptocurrencies like Bitcoin to supply chain management, voting systems, and more, because of its security and transparency.

Do you have any other questions? Please share them in the comments. We aim to expand this resource page based on your feedback and input.

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