1. Explain what the Blockchain is in your own words.
A blockchain is a decentralized digital public ledger. Broken down, that means the blockchain is a record of all transactions made on a specific network, no single entity has control over the blockchain, the blockchain exists solely in the digital realm, and anyone can view, make changes to, or store data on the blockchain at any time (it's an open and transparent network).
2. Explain what a Smart Contract is.
A Smart Contract is a program (kind of like a middleman), or "rulebook," that a developer makes on a blockchain so that users can interact with/do certain things on the blockchain.
3. Explain the difference between a script and a transaction.
A transaction modifies data on a blockchain and costs money (gas), whereas scripts read data from a blockchain and are free.