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How does a blockchain work – Simply Explained



What is a blockchain and how do they work? I’ll explain why blockchains are so special in simple and plain English!

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Giới thiệuThúy Navi

Thúy Navi 26 tuổi đam mê du lịch, công nghệ,đang sống và làm việc tại Hà Nội. Founder,Blogger tại Website: http://www.internetviettelnhatrang.com/

40 Bình luận

  1. 1:27 A hash (value) is not always unique, at least not in programming or computer science. The point of hashing as a method is that although many sets of data can have the same hash value, mostly they don't, making searches faster on average by replacing most of them by direct table lookup. But of course, you can make hash numbers practically unique by making the format very long. I guess that's what is meant here(?).

  2. I understand the uses but it's extremely inefficient. We trust millions of financial transactions a day to banks and merchants that don't use block chain. But for some reason the future is jumping through hoops to achieve the same result.

  3. And this is the reason why crypto currency will never become "legal" way of payment. In economy and in the market to achieve financial goal you need to offer additional or new value, thus that value will determine your overall income/profit. Above all, any type of currency in history gone through validation and global acceptance process – from shells in Micronesia through gold, silver and diamonds – all of them are accepted as intermediary point of value exchange. Here – there's no value, there's no additional benefit – only P2P network based on blocks which contains some data, yes Sir – but no value. The whole "crypto" story is based on IT infrastructure and ideas – not on real value or exchange rate for goods. From the other hand – nothing is secure in this story – internet will never become decentralized, and all of those "crypto" are silen property or world wide governments. Back to nothing.

    We already have a problem with inflation due "over-printing" money almost in every country in the World, there is no real financial coverage for "fiat" currency, how to even think seriously about "crypto" and "blockchain currency"? People, be careful – this idea is based on CIA computing theory in late 1960's, not – as it mentioned in video – from 1991. And BTW – it is not so hard to crack chain – it is enough to be a power as China for example, to destroy this whole system within a month. You saw how easy was to teach people that C0v1|) is scary p4n|)3<>ic? Everything is easy this days – except to be human being. Remember this….

  4. I was searching about blockchain. But I really understand it by this video. Blockchain created on very intelligent digital signs named 'hash'. this video help many people who wanna learn blockchain. thank you for helping my learning. I will try to share this video to our many Japanese people.

  5. The word "technology" shouldn't be used when it's used in such a wide sense. There's nothing new about this, it's just a slightly new composition of existing concepts.
    Basically, as some pointed out, the data structure is a linked list, which is distributed in a peer-to-peer network, and each new entry requires a certain amount of processing work. It's a distributed ledger, in essence. If this is a good fit or not, depends on whether you really need a ledger, how relevant it is that it is distributed, and how meaningful it is to require work to be done to append to it.
    It's no wonder Bitcoin and the like is consuming so much power. Even if you can justify that, you still have a currency with no inherent value. Fiat currency has at least the inherent value of governmental trust. But even if that is not a good enough excuse, Bitcoin is not truly decentralized either. You have just swapped out the government and banks with other entitled entities in their place.
    Anyway, technology-wise, peer-to-peer networking is really the "new" thing here, and it's not exactly new. I'm sure there are uses for these concepts, but "blockchain" primarily sounds like the new buzzword to me. It's a thing until the next one comes along.

  6. Bro, that's not a bullflag, and even if it were, it would not be relevant in the 5 minutes timeframe. However, the lines you just drew, that triangle after a dump, that's a bearflag bro… After a dump it goes up a little, which is the so-called dead-cat-bounce… Bitcoin isn't done yet with its short-term downtrend, and it will retest the levels 30k-28k, hopefully we can hold in that support… But about Shiba, sorry to inform you, we will see a little more dump, being dragged down by bitcoin, before we can see a reversal. I might be wrong, since there's lot of market manipulation, but I strongly advise you to investigate a little more in technical analysis, knowledge is never too much. Try and reach out to (cryptojason42) On ????-????.

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