What is Blockchain? Blockchain Technology Explained Simply
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Blockchain technology is a way of managing a ledger of records in a decentralized manner. It means that everyone participates in maintaining and updating the ledger, which makes it practically impossible to falsify.
While Blockchain technology is a good solution to the issue of centralization, it’s also very inefficient and slow, therefore it should only be used if the problem at hand is indeed centralization.
That’s Blockchain technology in a nutshell. If you want a more detailed explanation about the Blockchain and how Blockchain technology watch the complete video , here’s what I’ll cover:
0:54 – What blockchain aims to solve
2:48 – Bitcoin: the decentralization of money
3:10 – Decentralization opportunities
4:04 – Blockchain explained in a nutshell
5:16 – How does blockchain technology work
10:05 – Ethereum in a nutshell
10:26 – Private blockchains
11:40 – Public blockchains
11:58 – Is blockchain the next big thing?
13:12 – Conclusion
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THanks soo much. Your tutorials are the best
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Successful people don't become that way overnight. What most people see at a glance wealth, a great career, purpose is the result of hard work and hustle over time. I pray that anyone who reads this will be successful in life
Wikipedia is a bad example of decentralization. True, many can edit, but only an elite relative few decide what gets to stay.
Investing in bitcoin is the best investment anyone can do this, because it has made a lot of people millionaire. I pray that anyone who reads this will be successful in life
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this platform is working 24/7 i got my profit successfully withdrawn from my blockchain wallet
Thank you so much for this easy to understand explanation 😊 ☺
Thanks for such lucid and simple explanation, it made my day !!
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Is it a application, system, platform or something else???
so who created 'block chain'?
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Money is an issue that everyone has for a better and luxurious life, life was hard for me until I came across Elena I started trading bitcoin and now earning 12,000$ per week
Not simple at all
Love the bloopers! Like you even more now.
Is any of this tangible? Doesn't sound like it. Money was once based upon the gold standard or actual gold and silver. What determines the value of something that doesn't even exist? Is there an actual Bitcoin one could hold in their hand? What is the inherent value of it?
Fifth element??? Multipass?
QUESTION: What is the algorithm to be solved? And why is the first node to solve it given the right to create the new block? And how is that node rewarded? After all, that node and all it's peers have spent a LOT of money on processing equipment and power. Since there are many use cases for blockchain technology (NFTs, knowledge bases, medical records), it seems that bitcoin is only the earliest use case, not the definitive one so please consider the above questions in general terms under blockchain technology, not just bitcoin or cryptocurrencies.
Thanks for the info
Wikipedia is a pretty bad example of the wonders of decentralization. I've seen some horrendously biased entries on Wikipedia, and lots of important information cleverly omitted. Otherwise, I think this guy does a damn good job explaining.
Successful people don't become that way overnight. What most people see at a glance-wealth, a great career, purpose is a result of hard work and hustle over time. I pray that anyone who reads this will be successful in life..
this was a great video. understood the concept in different analogies and had an A-HA moment so thats always nice. Also, i like how your video layouts are setup and will think about your layout when i start my educational videos.
It is amazing how much this guy knows about crypto but how little he knows about the fiat currency he so often unintentionally misrepresents out of ignorance. The sad thing is most people will have heard similar talking points and agree since these are all just old recycled goldbug libertarian talking points.
Great presentation, especially from a multimedia perspective. Audio was NOTABLY quality then crispness of black text on white background and your wardrobe color and hair style. A fine example of effectiveness. Thank you.
Its all scam but if you have idiot to steal their money legally good for you .paper money back up with gold
But wait,if all blocks are connected,wouldnt owning one hash means owning all the chain infos?how does it make it secure if all of them are linked?
⚕️I invest a little amount on bitcoin mining and it generates 50000 USD from is mining⌨️….
They say that unless you understand the concept well you won't be able to explain it simply. This was one of the most clear and easy to understand on the internet, I've been looking for a while!
Keep up the great work! And please leave your name in the about section so we can get to know you more!
Thanks for such a video, I have seen that many fails to explain the concept so clearly.
I just watched this, and is very interesting. Hopefully you read this because I have a question regarding "writing the next page", which obviously means the ledger. In a bank, in order to update their ledger, whoever does that confirms that each new transaction is valid, one by one, before confirming it into the ledger. But in blockchain once someone "earns" the right to write the next page: how exactly do they confirm which transaction to include? You almost made it sound like that's unimportant (not one of the 5 elements). How do they make sure those transactions are valid?. And as someone already asked: how and where from do they choose which set of next transactions to approve? Since history cannot be re-written, sounds to me like this critically important.
Very informative thank you. I have just started investing in bitcoin and you have answered many questions I have had.
These guys promote the new version of the wonderful new world. As with any idealistic, futuristic novelty, everything is fabulous in theory but not so in practice.
Block Chain Rules…. I'm going to go get a BC Tat!!
Still not clear.
i am from texas can assure you this platform worked well
I recommended a professional broker to you guys sometime ago, can I get a person who invested with her
Comment below
Let's go
Blockchain is plattform like bianance paincone?
Thanks man
as always: great video.
Over 8 months I have joined Harvey's master class, his methods for trading and making wealth have been accurate and fruitful. This may not be the only way that works but it has been working for me.
You can have my subscription. dude your explanation is the clearest on the internet
I’m still slightly lost 😪
Im still lost as hell