What is Blockchain? Blockchain Technology Explained Simply
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- Опубликовано: 26 май 2019
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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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This series is outstanding! Best in class.
I’ve watched a few videos about blockchain and this is honestly the only one that helped me understand what it is, thank you!
Is bitcoin the new gold rush? Like a new era like the 80'w and cocaine money..is it something you can get deeply involved in and make a fortune..? Or is it a fad?
If you watched this video first it would have been just as confusing as the others you watched.
By watching multiple videos on any new subject it'll take a few goes for the knowledge to sink in.
So this video merely cemented what you had already picked up from previous videos.
Have a nice weekend.
Sameee easy to understand
@@theheavytruth6309 its here to stay but BTC will be a collectable. The idea is to get people used to digital currency and then everybody to Central Bank banked digital currencies. Essentially a gateway to introduce the new digital Fiat system. There is lots of money to be made though you have to research the projects and the tokens that you were purchasing. Blockchain technology is the real prize here not BTC
Me too
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.”
Well, I think it is working. There may be other currencies like it that may be even better. But in the meantime, there’s a big industry around Bitcoin. - People have made fortunes off Bitcoin, some have lost money. It is volatile, but people make money off of volatility too.”
When bitcoin currency is converted from currency into cash, that interface has to remain under some regulatory safeguards. I think the fact that within the bitcoin universe an algorithm replaces the function of the goverment …[that] is actually pretty cool.”
It is not a speculative investment even though it is being used as such by other people. As Bitcoin network grows the value of Bitcoin grows. As people move into Bitcoin for payments and receipts they stop using US Dollars, Euros and Chinese Yuan which in the long-term devalues these currencies.
Bitcoin is the beginning of something great: a currency without a government, something necessary and imperative. But I am not familiar with the specific product to assert whether it is the best potential setup. And we need a long time to establish confidence.
At its core, bitcoin is a smart currency, designed by very forward-thinking engineers. It eliminates the need for banks, gets rid of credit card fees, currency exchange fees, money transfer fees, and reduces the need for lawyers in transitions… all good things.”
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"
This was me for like a fuckin week
yep, me too.
Yeah, this one actually explains it well and doesn’t just try to describe it as transactions or whatever
No
U need to watch all different video of Blockchain so in the future you will get it what they said
Our mission is to inform people about blockchain. You are doing a great job!
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Love the blooper reel at the end
This video should be moved up on the playlist. It's very helpful for understanding the previous videos.
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By far the best explanation of Bitcoin & Blockchain I've seen.
Full marks for Encyclopaedia Britannica comparison very intuitive way to understand the difference.
You my friend are a great teacher without all the jargon/lingo
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+ 1 4 4. 2 2. 4. 4. 7 8. 8 1
Do well to tell him I referred you to him his strategies are top notch 🇱🇷🇱🇷☑️
With all due respect, Dude you´re the man. Excellent explanation!
DUDE COME ON
One of the best videos (if not the best) I have seen on understanding what bitcoin and blockchain is.
Thanks for such lucid and simple explanation, it made my day !!
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. 😄👍
watching this video is a game changer for me walking into the future
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.
This video was so helpful much easier to understand,explained so clear thanx!
BEST IN CLASS SERIES - EXCELLENT, thank you
loved the video. been looking to educate myself on this tech and hopefully be able to spread the information. Thank you
This is very informative. I like that you did a bloopers at the end. Made learning fun!
How long before this can be used in general by everyone ?
wow thank you for this! this is the first video that i've felt like, okay, i *finally* get this. thank you for the analogies and examples! they are abundantly helpful.
Glad it was helpful!
WOW! so well explained! Well done Nate!
Thank you! I love good teaching and to the point.
Thank you for this! Very clear explanation.
Thanks for such a video, I have seen that many fails to explain the concept so clearly.
Your clarity of explanation is very impressive. One thing that remains vague is to me at least is if mining is problem solving/guessing by sophisticated computers, who or what is initiating the problem that needs solving?
Yep, I've seen other "simple explanations" of the blockchain concept, but this one is it!
I Love your video because your a good Educator and your English is simple and clear coupled with the content you present. Thanks
Agree Abang
This video was by far the most accurate on the blockchain technology.
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+1.3.8.5.3.5.0.0.6.8.7,,,
your videos are high quality man. keep it up
this video explains blockchain so well. Good job
Thank you, this is very helpful!
Great video. Brilliantly developed. Thanks Nate Martin. Love the bloopers at the end.
Have you invested..!
An Exceptional, and Excellent video...Thank you.
It is hard work to make these videos by the look of the bloopers. It is harder to explain complex concepts clearly. Great job. 👍
Thank you, this was a wonderful explanation
Best explanation so far that has helped a dummy like me to understand it. Thank you.
This video makes me understand blockchain very well.
Thank you kindly for an explanation of the blockchain.
Wow i actually understood that pretty well. Damn good explaination. Thanks!
Very well explained!! Thanks for the Video!
The best explanation I gone through so far ❤️❤️❤️👍👍👍
Wow, thank you!
the beginning of this video before he even spoke anything about blockchain was fantastic. wow.
Omg this is the best and simple explanation of blockchain I’ve ever watched so far thank you so much for an amazing video.❤️
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+1.3.8.5.3.5.0.0.6.8.7,,,
You can have my subscription. dude your explanation is the clearest on the internet
Lol, Loved the end. You are great. Always wondered how the technology or concept of bitcoins worked. You did a great overview for the un-savvy folks like me. Much obliged, 🧐 👏👏👏👏👍💞❤️
Beautiful explanation! 👏👏
Outstanding explanation......thank you.
Very concise and simple explanation.
Wow perfect explanation! Definitely won my subscribe!
by far the best presentation of what blockchain. Keep it up please.
Very useful video. Thanks for creating it and sharing it with everyone.
Thanks for the clear and simple explanations! 🔥🔥🔥
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+1.3.8.5.3.5.0.0.6.8.7,,,
the outtakes are pretty cool as well
Thanks you so much for the video, please do more! my life depends on it, I don't want to die
Watching this video made me go from 0 to 100 thanks a lot:))
oh my gosh the bloopers at the end hahahha you're INCREDIBLE in your explanations... thank you so much
so well explained thank you
THanks soo much. Your tutorials are the best
Thanks for such a well organised information
With highlights of major topics u will covering in the video
Thank you for explanation I learnt something from you
When it comes to the world of investment, most people don't know where to start. Fortunately, great investors of the past and present can provide us with guidance
Great job, thank you so much!
Thanks for sharing your knowledge!
Liked and subscribed . Im new to Bitcoin but I’m glad I getting involved now before everyone thinks I’m crazy. Your videos are simple and very informative.....Continue to do your due dilenge
Great video! Thanks, helps a lot
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+1.3.8.5.3.5.0.0.6.8.7,
Good explanation ! Great presenter Thanks
This was a great explanation especially for someone with a finite attention span
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.
Great explanation!
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.
Yes absolutely
Outstanding video. It helps me a lot to understand blockchain hype
very simple and educative
awesome video. great explainer. question, is there a way to track transactions? who gets to dig into transaction history and what exactly can be extracted from trasactions logs?
0:42 The Block Chain And Bitcoin
1:03 How do we tell wether something is fake or real?
1:57 Power, Information, History
2:21 Subprime Crisis 2008
3:54 Decentralization, Implemented by Blockchains
4:28 The pages are “linked” or “chained”
4 Blockchain Elements (8:46)
5:36 (1) Peer-To-Peer
(2) Cryptography
(3) Concencus Rule/Algorithim
Ex. Proof of Work
7:40
(4) Punishment and Reward
*5) Market Adoption (Reaching Critical Mass)
10:06 Ethereum
10:30 Private Blockchain
11:02 Public Blockchain
Valid/Invalid
12:02 Is Blockchain Tech. “The Next Big Thing” ?
13:20 Are we ready?
13:38 “An open, censorship resistant method, for managing records by the public”
@Cecilia Paskah New mining company paying !! 0.007 cents the SHA256 !!! + 3% a day !!! uniex.biz?ref=Ayamasato
Very good job, thank you!
Excellent break down 👏👏👏
Great video. Maybe an updated one with current faster coins and technology?
Outstanding!
A wonderful presentation.
Flexa/Amp token awesome project for payments imo...Awesome video thanks for the breakdown and knowledge
Well explained I got it easier after Watching.
Best explanation so far
@@tradepro7008 : another scammer spotted
I wish I learnt this years ago. Interesting!
Outstanding, have now a better idea of what blockchain is {for dummies lol}.
Now a subscriber.... keep up the good work.
Excellent class. I really learned a lot. Thank you Nate.
Hello
Very simple explanation. Thanks a lot! I have a question.
What are some example cases in which blockchain system is used efficiently or good?
Absolutely fantastic! Wish I could have watched it earlier!
It's been a little over a year since our oldest son, Nick introduced me to crypto currency. Nate, you have really taught me a lot and it's getting easier to follow you!💕
Why in your video you said that after one block is not enough? And we have to wait until 6 blocks to confirm the transaction. And the real question is what would happen if I confirm at 3 blocks. And after the 6th block came along I found that it was not a legal transaction? Than you
Excellent!! Can you further explain Rewards and Punishment? What are they based on?
very thorough.thank you
Glad you enjoyed it!
Thank you, that was helpful..
as always: great video.
Very informative thank you. I have just started investing in bitcoin and you have answered many questions I have had.
Nate, with all of the "cryptocurrency-blockchain-DeFi" buzz going around these days, I just had to dig deeper. I found this video, and it helped me out immesnsely! Thanks!
Great video, thanks a lot
Excellent! Thanks
Great information Nate
This is great👍🏼💫
Wonderful comment I really appreciate a lot write my administrator on whats app to assist you make profits in crypto
+ 1 4 4. 2 2. 4. 4. 7 8. 8 1
Do well to tell him I referred you to him his strategies are top notch 🇱🇷🇱🇷☑️