What is Blockchain? Blockchain Technology Explained Simply
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Published 2019-05-27
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
For the complete text guide visit:
99bitcoins.com/what-is-blockchain/
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All Comments (21)
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CAUTION!! Many scammers are using the comment section to promote their scams and sometimes even use the name “99Bitcoins” in their profile. Never send money to someone you don’t know and don’t accept offers to trade or exchange cryptocurrency from strangers. Stay safe 🙏🏻🙏🏻🙏🏻
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This series is outstanding! Best in class.
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you ever just watch 100 videos of blockchain and never get it, but then u find that 1 video and you're like "OHHHH I get it now." This was my "1 video"
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Bitcoin is exciting because it shows how cheap it can be. Bitcoin is better than currency in that you don’t have to be physically in the same place and, of course, for large transactions, currency can get pretty inconvenient.”
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By far the best explanation of Bitcoin & Blockchain I've seen.
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Full marks for Encyclopaedia Britannica comparison very intuitive way to understand the difference.
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I’ve watched a few videos about blockchain and this is honestly the only one that helped me understand what it is, thank you!
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One of the best videos (if not the best) I have seen on understanding what bitcoin and blockchain is.
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Love the blooper reel at the end
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loved the video. been looking to educate myself on this tech and hopefully be able to spread the information. Thank you
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your videos are high quality man. keep it up
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WOW! so well explained! Well done Nate!
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This video was so helpful much easier to understand,explained so clear thanx!
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man I love your videos, they are so easy to understand and are really making me understand everything! thank you so much for your wisdom.
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Our mission is to inform people about blockchain. You are doing a great job!
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this video explains blockchain so well. Good job
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Very well presented. Clarifies a lot. The resistance to this tech is due to 2 factors: 1) Uncertainty or Security fears, as there's no proven history 2) Lack of awareness. This is exactly how huge corporates reacted when Cloud computing started. Now Cloud is everywhere. Such tech is always 'blocked' before it gets accepted by all. 😄👍
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BEST IN CLASS SERIES - EXCELLENT, thank you
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With all due respect, Dude you´re the man. Excellent explanation!
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Thanks for such lucid and simple explanation, it made my day !!
