Blockchain explained in plain English
Understanding how blockchain works and identifying myths about its powers are the first steps to developing blockchain technologies.
Blockchain is an algorithm and distributed data structure for managing electronic cash without a central administrator among people who know nothing about one another. Originally designed for the crypto-currency Bitcoin, the blockchain architecture was driven by a radical rejection of at (government-guaranteed) money and bank-controlled payments.
Blockchain is a special instance of Distributed Ledger Technologies (DLTs), almost all of which have emerged in Bitcoin’s wake.
HOW DOES BLOCKCHAIN WORK?
Blockchain is a Distributed Ledger Technology (DLT) that was invented to support the Bitcoin cryptocurrency. Bitcoin was motivated by an extreme rejection of government-guaranteed money and bank-controlled payments. The developer of Bitcoin, Satoshi Nakamoto envisioned people spending money without friction, intermediaries, regulation or the need to know or trust other parties.
Technically, the original blockchain is separable from Bitcoin, but this report will show that the blockchain design is so specific to Bitcoin that it’s not a good fit for much else.
The central problem in electronic cash is Double Spend. Because pure electronic money is just data, nothing stops a currency holder from trying to spend it twice. Blockchain solves the Double Spend problem without a digital reserve fund or similar form of umpire.
Blockchain monitors and verifies Bitcoin transactions by calling upon a decentralized network of volunteer-run nodes to, in effect, vote on the order in which transactions occur. The network’s algorithm ensures that each transaction is unique.
Video created by the Centre of International Governance Innovation.
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I share this video to everyone that asks me what it is. It's one of the best video explanations I've come across in the past 2 years.
what if steve says 'screw you anne!" and kills her to keep the land?
360p max quality????? what the fuck is this garbage? disliked and reported
Haha. Is this the best explanation? How about 3blue1brown?
2/10 explanation still dont get it after i tried like 20 explanations all over the internet. they are all garbage
A very informative video. Explained with a good example.
I have been making losses trading myself, I'm new to Bitcoin trading so I don't really understand how it works. Can some please guide me on the right path?
Hello, what will happen to blockchains and cryptocurrencies, if the internet crashes for some reason. Lets assume it restarts again but will our currencies still be there and remain safe??
Amazing that I missed it considering this video came out in 2001 when 360p was common
Are we living in a blockchain regulated reality?
Ever since darcracks was recommended to me and he did my first two job with stress. I have introduced him to many people . I have and he have not disappointed for a sec.
Ever since darcracks was recommended to me and he did my first two job with stress. I have introduced him to many people . I have and he have not disappointed for a sec.
You should start selling your own coin via MintMe 🙂
I used to see Forex trading as a side thing but it has proven to be a major source of passive income ever since I ventured into it.
All the dislikes are coming from Lawyers and Government officials, thinking about all that money they can't charge clients for doing 3/5 of farkall
this is just to sell bit coin crypto scamms, centralized ledger authorized by single entity is despotic and communist organization. People should be aware and not be duped on to buy in .
Friendly Reminder
Uncle Doge departs for 50 million again in 4 days
Why?
They have a fucking billboard in times square NYC for 5 whole days
Last chance to get in before the moon
Join the tg group and see for your self.
?
@uncledogeofficial
so how do I get rich with it
I was able to build a big income stream during the covid-19 pandemic investing with a professional broker,Mrs Elizabeth Graham, I have been making huge profits on my investments ever since i started trading with her, Mrs Elisabeth Graham's trading strategies are top notch.
What an amazing video,this is exactly what I need as a motivation to trade Btc/Fx
I have always wanted to invest in Bitcoin but I’m very inexperienced, I even watched some videos yet still difficult to.. understand. I’m so much in need of an expert…
In a few months or no time people we definitely be kicking themselves regret for missing the opportunity to buy bitcoin or invest in any cryptocurrency they known such as BITCOIN LITECOIN ETHEREUM TETHER DOGECOIN CARDONA XRP BINANCE COINS
Truth, In order to succeed,
your desire for success you should be greater than your fear for failure.
Love your exposition at the 6 min mark forward, this information should be spreaded further. I find myself guilty of checking the price at least once a day, and why? Because the volatility of the crypto market has given me that false hope of turning a few thousand fiat in a random asset into millions in a matter of days, even if the likelihood is very low. It really isn't that different from playing the Bandit machine. I also think easy access to leverage has given birth to a generation of broke gambling addicts, working crappy jobs to pay their student tuition and loans from their wive's boyfriends in order to trade shiba coins. TA youtubers with referal links to leverage platforms is one of those things that should be regulated. When looking at the previous reoccurring history of bitcoin, all conditions for the bulls to take full charge have been met but for the lowest band of the bollinger band which is yet to constrict the entire band to signal a sharp upward swing. Indications also show that this is about to happen, so b’t’c will definitely keep rising so it's the right time to get all in but smartly of course. It’s either you are great at trαding and if not, there are quite a lot of services offering signals so you don’t gamble away your assets, the best to my knowledge being that of Thomas Fuller's, a well-seasoned trαder who has proven his worth, at least to me as l have made over 12 btc trαding his signals. Thomas (Teligram: @Fullertrades) is very adept in TA and FA as well as analyzing the markets in such a manner that other top traders should emulate
Really helpful
I have always wanted to invest in Bitcoin but I’m very inexperienced, I even watched some videos yet still difficult to.. understand. I’m so much in need of an expert…
I'm the lawyer and i don't like it
Bitcoin trading right now will be at every wise individuals' list. In few weeks you'll be ecstatic with the decision you made
today
It is an AMAZING video. Thanks for the wonderful efforts have been done to create this explanation.
It's strange how people talk about the profits they've been Making through crypto trading while I'm here not making any profit at all please can someone put me through on the right path.
It can be great to property
With the state of economy now man's really got to invest in some digital currencies it's been quite lucrative
Hello, I'm new to forex trade And have been making huge losses but I recently see a lot of people earning from it. Can someone please tell me what I'm doing wrong
Soo this "NETWORK" lets everyone in it see all of your personal information.. Great let me sign up…if it aint broke dont fix it…this world has become LAZY!!!
many see forex say a get rich scheme but forex is not like that, it's a gradual process with the right tools and application you can make a living from forex trading….
Is this how the Quran preserved? Im amaze.
They rich see economic crisis as a garage sale also the rich stays rich by investing and diversifying their portfolio with stocks, cryptocurrency and forex trading which is the widest thing every individual need to do and it's really profiting
Investing in crypto right now is one of the most reliable ways to make profits. The high liquidity associated with bitcoin makes it great investment vessel.
Thanks for the video.
The questions is – what about a data size? If it is not destroyed, then how we will deal with size of information? For the case of the ledger you still can delete some entries, what about blockchain?
Investing with an expert in the field is the best, have been making huge returns since I met keleen Marion , one of the best when it comes to crypto currency investment.
I still don't get it.