🔥Professional Certificate Program in Blockchain by IIT Kanpur (India Only) - www.simplilearn.com/blockchain-certification-training-course?Jw0uiE4&Comments&RUclips
I've listened to several podcasts and multiple videos, and so far, this one was the best example for how I was able to finally understand block chain. Really appreciate the video, thank you!
Please share your feedback below and don't forget to attempt the quiz at 05:19 (by commenting your email id and answer) to be one of three winners who can win amazon vouchers worth Rs.500 or $10 (depending on your location). We will give out the answer and announce the winners on Monday, 11th March 2019 in this same comment! Happy Learning!
Hi, thanks for your reply! We will give out the answer to the quiz on Monday, 11th March 2019. If your answer is right, you could be one of the 3 lucky winners to grab Rs 500 or $10 worth Amazon voucher. Stay Tuned!
Hi Adeeba, thanks for your reply! However, without your email id, we won't be able to give you the prize and neither would your answer be counted as valid. So comment your email id down below now to get back in the contest!
This is an amazing explanation of blockchain, thank you so much Simplilearn! I have shared this with all my friends. Kudos to the effort you guys put in
Hi Pooja, thanks for the kind compliment. Do subscribe to our channel and get our new video updates directly into your email. If you have any questions related to these videos, you can post in the comments section, we will clear your queries/doubts.
I am completely new to the concept of blockchain.. and even bitcoin... I just thought that I won't be able to understand this.. but thanks to this video... this is the first video I watched for understanding what is blockchain and I have understood 100% of the information given in this video.. thanks to your channel. Keep it up.. 🙂
We are glad you found our video helpful. Like and share our video with your peers and also do not forget to subscribe to our channel for not missing video updates. We will be coming up with more such videos. Cheers!
I was looking for a stripped down explanation of blockchain, and found it here. I get it at it's core. Thank you so much. You're right, that was one expensive meal.
Thank you for the appreciation. You can check our videos related to various technologies and subscribe to our channel to stay updated with all the trending technologies.
"Hi, you got the right answer. Kudos. The contest is over and winners have been announced in our community and also mentioned in the top comment of the video as well. Thanks for your participation. Explanation: Answer: A (Public Distributed Ledger) The concept of public distributed ledger ensures that everyone on the Blockchain network has a copy of the ledger. Thus, no single person can make changes in the ledger as everyone else will flag this as invalid. "
miners part i didnt understand pls explain how does miner validate the criptografy. and why this is specially need in cryto currect crypto does all cryptografy need so much processing power? bit coin transaction will be slow to?
Thanks for that explanation. I’m going to watch it again. I recently started investing in cryptocurrency and I was unfamiliar with all the terminology. Your brief explanation opened my eyes more to the future of blockchain technology.
The answer to the question is option A. Thank you for your simple explanation about Blockchain. İ am a Math and İT teacher. İ am sharing your vid with my students as well.
"Hi, you got the right answer. Kudos. The contest is over and winners have been announced in our community and also mentioned in the top comment of the video as well. Thanks for your participation. Explanation: Answer: A (Public Distributed Ledger) The concept of public distributed ledger ensures that everyone on the Blockchain network has a copy of the ledger. Thus, no single person can make changes in the ledger as everyone else will flag this as invalid. "
We are glad you found our video helpful, Ajay. Like and share our video with your peers and also do not forget to subscribe to our channel for not missing video updates. We will be coming up with more such videos. Cheers!
Greetings! Thank you for your kind words. Spread the word by liking, sharing and subscribing to our channel! Cheers :). You can also explore our playlists for more Blockchain: ruclips.net/video/yubzJw0uiE4/видео.html.
"Hi, you got the right answer. Kudos. The contest is over and winners have been announced in our community and also mentioned in the top comment of the video as well. Thanks for your participation. Explanation: Answer: A (Public Distributed Ledger) The concept of public distributed ledger ensures that everyone on the Blockchain network has a copy of the ledger. Thus, no single person can make changes in the ledger as everyone else will flag this as invalid. "
Best explanation video so far. I just wished that there will be an in-depth discussion on the mining part. But all in all, this is great. Will definitely recommend this one to my friends. Thanks
WooHoo! We are so happy you love our videos. Please do keep checking back in. We put up new videos every week on all your favorite topics. Whenever you have the time, you must also check out our blog page @simplilearn.com and tell us what you think. Have a good day!
Just amazingly described ... I wonder how much beneficial this technology is going to be! Thanks for making me understanding the initial knowledge of Blockchain..
Very interesting content, i would also be glad if anyone here can explain a few things for me, this is 2022 and I believe it's my time to invest and shine for a better future
The concept of public distributed ledger ensures that everyone on the Blockchain network has a copy of the ledger. Thus, no single person can make changes in the ledger as everyone else will flag this as invalid. but what if all of the people alter the ledger ? is that possible?
"Hi, you got the right answer. Kudos. The contest is over and winners have been announced in our community and also mentioned in the top comment of the video as well. Thanks for your participation. Explanation: Answer: A (Public Distributed Ledger) The concept of public distributed ledger ensures that everyone on the Blockchain network has a copy of the ledger. Thus, no single person can make changes in the ledger as everyone else will flag this as invalid. "
The answer for the last quiz you gave is option D - Hash encryption . Because whatever input item we have in whatever length , it will be as the same output item in a fixed length . So there is possibities of alteration .
"Hi, we are sorry to say that you got the wrong answer but in any case, we are glad seeing your participation in the contest. The correct answer is Answer: A(Public Distributed Ledger) The concept of public distributed ledger ensures that everyone on the Blockchain network has a copy of the ledger. Thus, no single person can make changes in the ledger as everyone else will flag this as invalid. "
Hello, thank you for appreciating our work. We are glad to have helped. Do check out our other tutorial videos and subscribe to us to stay connected. Cheers :)
“The best way to measure your investing success is not by whether you’re beating the market but by whether you’ve put in place a financial plan and a behavioral discipline that are likely to get you where you want to go.”
Hi, Simplilearn provides online training across the world. We would be happy to help you regarding this. Please visit us at www.simplilearn.com and drop us a query and we will get back to you! Thanks!
The contest is over and winners have been announced in our community and also mentioned in the top comment of the video as well. Thanks for your participation. Explanation: Answer: A (Public Distributed Ledger) The concept of public distributed ledger ensures that everyone on the Blockchain network has a copy of the ledger. Thus, no single person can make changes in the ledger as everyone else will flag this as invalid.
Hi, I have a test on business disruptive technology tomorrow and I would like to know about P2P network in an easy way and how to illustrate or draw a diagram for an example for blockchain.
Hi Sara, you can refer to our Blockchain 101 video where we have used an example and explained the P2P network in a simple way: ruclips.net/video/WC794IwOuL0/видео.html.
Hi Munim, thanks for your reply! However, without your email id, we won't be able to give you the prize and neither would your answer be counted as valid. So comment your email id down below now to get back in the contest!
So what happens when the last bitcoin is issued to a miner for "proof of work". How will they get paid after that? Will they have to keep mining for free?
"Hi, you got the right answer. Kudos. The contest is over and winners have been announced in our community and also mentioned in the top comment of the video as well. Thanks for your participation. Explanation: Answer: A (Public Distributed Ledger) The concept of public distributed ledger ensures that everyone on the Blockchain network has a copy of the ledger. Thus, no single person can make changes in the ledger as everyone else will flag this as invalid. "
The answer to the question is A. Also, for an example, using the blockchain by mentioning the quality of a particular goods or service throughout the supply chain would help us immediately identify the origin of defect. As each part of the supply chain would have the knowledge of the quality of that particular goods or service at each stage.
Hi, you've got the correct answer! Option A! The concept of public distributed ledger ensures that everyone on the blockchain network has a copy of the ledger. Thus, no single person can make changes in the ledger as everyone else will flag this as invalid. However, the competition period is now over. Thanks for participating and watching!
I don't understand how that would work in real world unless each step in the supply chain does quality check which sounds like a lot of overhead. Besides, if product is found to be damaged in one of those steps while performing quality check, what's the point of letting it shipped all the way to the store let alone put it on the store shelf?
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Nice video, concept made easy to understand. Blockchain technology can be used wherever there is work or process flow to correctly identify source of issue.
"Hi, you got the right answer. Kudos. The contest is over and winners have been announced in our community and also mentioned in the top comment of the video as well. Thanks for your participation. Explanation: Answer: A (Public Distributed Ledger) The concept of public distributed ledger ensures that everyone on the Blockchain network has a copy of the ledger. Thus, no single person can make changes in the ledger as everyone else will flag this as invalid. "
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You guys have elaborated it very nicely keep adding such content to your channel. Looking forward for more such videos P. S:answer is hashing algorithm
Sir they are transferring money to jack independently why in that block chain after transferring the amount to jack other 3members balance of coins are shown in the individual transaction
"Hi, we are sorry to say that you got the wrong answer but in any case, we are glad seeing your participation in the contest. The correct answer is Answer: A(Public Distributed Ledger) The concept of public distributed ledger ensures that everyone on the Blockchain network has a copy of the ledger. Thus, no single person can make changes in the ledger as everyone else will flag this as invalid. "
"Hi, you got the right answer. Kudos. The contest is over and winners have been announced in our community and also mentioned in the top comment of the video as well. Thanks for your participation. Explanation: Answer: A (Public Distributed Ledger) The concept of public distributed ledger ensures that everyone on the Blockchain network has a copy of the ledger. Thus, no single person can make changes in the ledger as everyone else will flag this as invalid. "
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No, I have never wondered if there's an easier way to complete transactions. Swiping my debit card was never difficult. I feel like the most difficult part of a money transaction is actually getting the person to pay you.
I still can't figure out what "problems" this is actually solving (other than putting everyone further into slavery). So now you have to work for the money you're already spending transaction by transaction? Review a ledger and validate each transaction? Sounds more burdensome than anything.
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I'm quite new into the Blockchain technology, and I have a question on the part where you say "public distributed ledger", where all Phil's friends have a copy of the ledger and know how much bitcoin Phil has left (1 bitcoin left at minute 2:56). In this case, does it mean people who have a common copy of your ledger will always know how much "money" (bitcoin for example) you have in your account? Apologies if it is a dumb question, kinda new here 😅
I can unequivocally say that crypto trading is one of the most profitable and lucrative business for every investors with the right expert or platform.
Perfect for a quick understanding of the concept before deep-diving into it. I was wondering in relation to the Walmart example if blockchain also describes the system of tracking damage when engaging in carsharing. Hereto, when you take pictures and note potential damage to the car before and after use, for the company to track when the damage to the car has occurred?
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Hi! Thanks for the video. I think the answer isn't public distributed ledger, but instead it is proof of work or proof of stake depending on the type of coin/network being used. In a public distributed ledger, the data can actually be altered because of the rule of majority. So if a majority of the group of users decide to be fraudulent and make a even longer list of blocks in the blockchain, then the network will consider that to be correct as it deems that whetever is longer is correct. In this scenario, they can make changes to the data in the blocks. If the question was "what is the concept of blockchain that ensures data cannot be altered by any SINGLE user within the network, then the answer could be public distributed ledger since 1 persons work will not outwork the majority of the people who are validating blocks using proof of work/stake. Id say the closest answer is proof of work/stake as it is a way of validating blocks in the block chain. Once a block is validated, then it becomes permanent. Would you agree? Thanks!
"Hi, we are sorry to say that you got the wrong answer but in any case, we are glad seeing your participation in the contest. The correct answer is Answer: A(Public Distributed Ledger) The concept of public distributed ledger ensures that everyone on the Blockchain network has a copy of the ledger. Thus, no single person can make changes in the ledger as everyone else will flag this as invalid. "
@@SimplilearnOfficial hi thanks for the response! Yes, no SINGLE person can make a difference. But the question stated that users cannot make a difference which is wrong cause they actually can if they gain majority of the users. If you put the words no single user can, then that would be correct. But that is not the case in the question so the closest answer is proof of work.
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Hi Kumaresan, thanks for sharing your email ID! We will give out the answer to the quiz on Monday, 11th March 2019. If your answer is right, you could be one of the 3 lucky winners to grab Rs 500 or $10 worth Amazon voucher. Stay Tuned!
🔥Professional Certificate Program in Blockchain by IIT Kanpur (India Only) - www.simplilearn.com/blockchain-certification-training-course?Jw0uiE4&Comments&RUclips
D hash ac555363@gmail.com
The Answer is A. Am I correct???
GOD BLESS SHEWENHACKS ON TELEGRAM THEY ARE THE BEST I CONFIRMED 10BTC AND GOT MY WITHDRAWAL SUCCESSFULL WITHOUT ANY ISSUES OR IRRELEVANT CHARGES
Can we just appreciate how this guy has almost a million subscribers and has the time to reply to every comment. Props to you man!
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@IR Prod
That is called humility.
He is using block chain tech 😂
some of his replies look copy/pasted
He's using bots bro
A - PUBLIC DISTRIBUTED LEDGER.
And thanks for explaining it in simple way.
I've listened to several podcasts and multiple videos, and so far, this one was the best example for how I was able to finally understand block chain. Really appreciate the video, thank you!
Glad you enjoyed it!
I've watched several videos about blockchain but this one made me really understand how it works - thanks!
Glad it was helpful! Thank you for watching!
Thank me later
I watched several videos about blockchain but can you make me to understand about the blackchin
Please share your feedback below and don't forget to attempt the quiz at 05:19 (by commenting your email id and answer) to be one of three winners who can win amazon vouchers worth Rs.500 or $10 (depending on your location). We will give out the answer and announce the winners on Monday, 11th March 2019 in this same comment! Happy Learning!
Simplilearn
Email: baygald@yahoo.com
Answer: hash encryption
Hi, thanks for your reply! We will give out the answer to the quiz on Monday, 11th March 2019. If your answer is right, you could be one of the 3 lucky winners to grab Rs 500 or $10 worth Amazon voucher. Stay Tuned!
Option A
Email: vartikarana2000@gmail.com
Ans: Hash encryption
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Finally! I've watched several videos and this is the only one I actually understand. Thank you so much
You're welcome!
Hit me up
This is an amazing explanation of blockchain, thank you so much Simplilearn!
I have shared this with all my friends. Kudos to the effort you guys put in
Hi Pooja, thanks for the kind compliment. Do subscribe to our channel and get our new video updates directly into your email. If you have any questions related to these videos, you can post in the comments section, we will clear your queries/doubts.
Thank you 🙏
2 btc each for dinner nowadays 😂
I am completely new to the concept of blockchain.. and even bitcoin... I just thought that I won't be able to understand this.. but thanks to this video... this is the first video I watched for understanding what is blockchain and I have understood 100% of the information given in this video.. thanks to your channel. Keep it up.. 🙂
We are glad you found our video helpful. Like and share our video with your peers and also do not forget to subscribe to our channel for not missing video updates. We will be coming up with more such videos. Cheers!
fantastic video, it explained EVERYTHING PERFECTLY. THANK YOU❤❤❤❤❤❤
Hello thank you for watching our video .We are glad that we could help you in your learning !
I was looking for a stripped down explanation of blockchain, and found it here. I get it at it's core. Thank you so much. You're right, that was one expensive meal.
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The knowledge I just acquired is a billion times more than the Amazon gift card. Keep the good work. Nice tips for entrepreneur and coders
Glad it was helpful!
Hit me up
Expensive dinner!
Hehe! True that!
hahahahahha
Hahaha
Yes that's true
Bitcoin is really profitable at this stage.
You're unbelievable! I'm subscribing immediately! Thanks for the enlightenment.
Welcome aboard!
Now I understand what is Blockchain
Great to hear that Simplilearn is helping you learn better .
The answer is A, good explanation, I think I’m starting to get what blockchain is, many thanks
"Hi, you got the right answer. Kudos.
The contest is over and winners have been announced in our community and also mentioned in the top comment of the video as well. Thanks for your participation.
Explanation:
Answer: A (Public Distributed Ledger)
The concept of public distributed ledger ensures that everyone on the Blockchain network has a copy of the ledger. Thus, no single person can make changes in the ledger as everyone else will flag this as invalid.
"
@@SimplilearnOfficial I know, im just interested and somewhat intrigued with the technology, thanks for the great explanation
miners part i didnt understand pls explain how does miner validate the criptografy. and why this is specially need in cryto currect crypto does all cryptografy need so much processing power? bit coin transaction will be slow to?
Thanks for watching our video and sharing your thoughts. Do subscribe to our channel and stay tuned for more. Cheers!
Thank you for breaking it down in a 7minute video and keeping it entertaining I didn’t fully understand it before !
Glad it was helpful!
Thanks for that explanation. I’m going to watch it again. I recently started investing in cryptocurrency and I was unfamiliar with all the terminology. Your brief explanation opened my eyes more to the future of blockchain technology.
Glad it was helpful! Thank you for watching!
How did it go?
absolutely brilliant video. you have explained it in a way that makes it super easy to understand
Glad it was helpful!
This topic gave me a headache and with your demonstration, I completely understand now, how this works. Thank you!
You're very welcome!
I appreciate this video
This is exactly what I need as motivation.
Glad it was helpful!
jack is balling
The answer to the question is option A.
Thank you for your simple explanation about Blockchain. İ am a Math and İT teacher. İ am sharing your vid with my students as well.
"Hi, you got the right answer. Kudos.
The contest is over and winners have been announced in our community and also mentioned in the top comment of the video as well. Thanks for your participation.
Explanation:
Answer: A (Public Distributed Ledger)
The concept of public distributed ledger ensures that everyone on the Blockchain network has a copy of the ledger. Thus, no single person can make changes in the ledger as everyone else will flag this as invalid.
"
Thank you for so such a simple, in depth, and fun video!
Glad it was helpful!
The best explanation for a novice that I've seen to date. Kudos to the creators if this video!
We are glad you found our video helpful, Ajay. Like and share our video with your peers and also do not forget to subscribe to our channel for not missing video updates. We will be coming up with more such videos. Cheers!
I
Very clear explainations! Good.
Greetings! Thank you for your kind words. Spread the word by liking, sharing and subscribing to our channel! Cheers :). You can also explore our playlists for more Blockchain: ruclips.net/video/yubzJw0uiE4/видео.html.
This is the best Blockchain explanation video on RUclips. This cleared all my doubts. Thank you.
Glad it was helpful!
Looking at this I would say blockchain is definitely the future
True that!
yesss
Public distributed ledger..
And thank for this video ☺
"Hi, you got the right answer. Kudos.
The contest is over and winners have been announced in our community and also mentioned in the top comment of the video as well. Thanks for your participation.
Explanation:
Answer: A (Public Distributed Ledger)
The concept of public distributed ledger ensures that everyone on the Blockchain network has a copy of the ledger. Thus, no single person can make changes in the ledger as everyone else will flag this as invalid.
"
Surely the answer is public Distributed Ledger.
Public distributed ledger
Best explanation video so far. I just wished that there will be an in-depth discussion on the mining part. But all in all, this is great. Will definitely recommend this one to my friends.
Thanks
Glad it was helpful!
Our mission is to inform people about bitcoin. You are doing a great job!
WooHoo! We are so happy you love our videos. Please do keep checking back in. We put up new videos every week on all your favorite topics. Whenever you have the time, you must also check out our blog page @simplilearn.com and tell us what you think. Have a good day!
Just amazingly described ... I wonder how much beneficial this technology is going to be! Thanks for making me understanding the initial knowledge of Blockchain..
Our pleasure. Happy to help!
I have been searching for days an easy explanation of Blockchain technology.
Thankyou
Hello thank you for watching our video .We are glad that we could help you in your learning !
Like a station wise assembly in a manufacturing company.
Every station has certain work they have to follow .
Each station is regularly checked .
Nice example!
And they are rewarded bitcoins.
This is the most informative video I've ever watched !
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I just heard about block chain today and the explanation provided i the video is very helpful. the answer to the quiz is A..cheers
Glad it was helpful!
Very interesting content, i would also be glad if anyone here can explain a few things for me, this is 2022 and I believe it's my time to invest and shine for a better future
Thanks for watching our video and sharing your thoughts. Do subscribe to our channel and stay tuned for more. Cheers!
The concept of public distributed ledger ensures that everyone on the Blockchain network has a copy of the ledger. Thus, no single person can make changes in the ledger as everyone else will flag this as invalid.
but what if all of the people alter the ledger ? is that possible?
"Hi, you got the right answer. Kudos.
The contest is over and winners have been announced in our community and also mentioned in the top comment of the video as well. Thanks for your participation.
Explanation:
Answer: A (Public Distributed Ledger)
The concept of public distributed ledger ensures that everyone on the Blockchain network has a copy of the ledger. Thus, no single person can make changes in the ledger as everyone else will flag this as invalid.
"
Thank you sir!.. Truly non technical student could also have a fast learning by your videos in simple form
You are most welcome
The answer for the last quiz you gave is option D - Hash encryption . Because whatever input item we have in whatever length , it will be as the same output item in a fixed length . So there is possibities of alteration .
"Hi, we are sorry to say that you got the wrong answer but in any case, we are glad seeing your participation in the contest.
The correct answer is
Answer: A(Public Distributed Ledger)
The concept of public distributed ledger ensures that everyone on the Blockchain network has a copy of the ledger. Thus, no single person can make changes in the ledger as everyone else will flag this as invalid. "
Our uni recommends this channel as an official source of self-education
Keep learning with us .Stay connected with our channel and team :) . Do subscribe the channel for more updates : )
Never seen an explanation this detailed, nice work you doing here your videos have really helped me
Awesome, thank you!
Solid Video! I have to learn about blockchain for a class of mine and this couldn't have helped more! Thank you all so much!
Hello, thank you for appreciating our work. We are glad to have helped. Do check out our other tutorial videos and subscribe to us to stay connected. Cheers :)
“The best way to measure your investing success is not by whether you’re beating the market but by whether you’ve put in place a financial plan and a behavioral discipline that are likely to get you where you want to go.”
Hello, thanks for viewing our tutorial. You can find your requested dataset in the video description. Hope that helps.
This is an amazing explanation of blockchain, thank you so much Simplilearn!
I have shared this with all my friends.
Much appreciated!
Question, so what happens in the time it takes for someone to validate your transaction, ie, the miner? Are we talking few seconds or hours?
Hi, Simplilearn provides online training across the world. We would be happy to help you regarding this. Please visit us at www.simplilearn.com and drop us a query and we will get back to you! Thanks!
Thanks for that simple, complete, understandable explanation. Will be sure to share it with my friends..
Glad it was helpful!
I really need to know more about blockchain
This is the best explanation of what is blockchain, thank you
Glad it was helpful!
After many researches you are the one who explained the blockchain to me ! Thank you
Glad it was helpful!
Clear and concise explanation; you're a great teacher! If I may suggest something, is have the answer(s) to your quiz in the details section?
The contest is over and winners have been announced in our community and also mentioned in the top comment of the video as well. Thanks for your participation.
Explanation:
Answer: A (Public Distributed Ledger)
The concept of public distributed ledger ensures that everyone on the Blockchain network has a copy of the ledger. Thus, no single person can make changes in the ledger as everyone else will flag this as invalid.
I almost gave up on my curiosity of blockchain glad I watched your video. Now I get it. 😊 Thanks.
Glad it was helpful!
Hi, I have a test on business disruptive technology tomorrow and I would like to know about P2P network in an easy way and how to illustrate or draw a diagram for an example for blockchain.
Hi Sara, you can refer to our Blockchain 101 video where we have used an example and explained the P2P network in a simple way: ruclips.net/video/WC794IwOuL0/видео.html.
D; hash encryption
Hi Munim, thanks for your reply! However, without your email id, we won't be able to give you the prize and neither would your answer be counted as valid. So comment your email id down below now to get back in the contest!
This helped a lot need to understand the block chain to understand NFTs and Bitcoin etc.
Hello thank you for watching our video .We are glad that we could help you in your learning !
So what happens when the last bitcoin is issued to a miner for "proof of work". How will they get paid after that? Will they have to keep mining for free?
They'll be mining for a fee? A percentage of the transaction amount?
They'll mine for a fee from the community. The community would still own all the bitcoins produced until that moment. Thank you for watching!
Wow.. Such a simple way to understand blockchain. Kudos to this guy. ❤️
Glad you liked it
Answer is public distributor ledger...
Thnk u so much for knowledge of block chain
I m new here 😊
"Hi, you got the right answer. Kudos.
The contest is over and winners have been announced in our community and also mentioned in the top comment of the video as well. Thanks for your participation.
Explanation:
Answer: A (Public Distributed Ledger)
The concept of public distributed ledger ensures that everyone on the Blockchain network has a copy of the ledger. Thus, no single person can make changes in the ledger as everyone else will flag this as invalid.
"
The answer to the question is A.
Also, for an example, using the blockchain by mentioning the quality of a particular goods or service throughout the supply chain would help us immediately identify the origin of defect. As each part of the supply chain would have the knowledge of the quality of that particular goods or service at each stage.
Hi, you've got the correct answer! Option A!
The concept of public distributed ledger ensures that everyone on the blockchain network has a copy of the ledger. Thus, no single person can make changes in the ledger as everyone else will flag this as invalid. However, the competition period is now over. Thanks for participating and watching!
@@SimplilearnOfficial can blockchain be used in education?
I don't understand how that would work in real world unless each step in the supply chain does quality check which sounds like a lot of overhead. Besides, if product is found to be damaged in one of those steps while performing quality check, what's the point of letting it shipped all the way to the store let alone put it on the store shelf?
See this is great bc it gives me an initial scenario versus just starting into a blockchain definition. Thank you!!
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You saved me for my project thank you so much!
You're welcome!!
The best answer would be A.
Because everyone know about the numbers and you can realized and find out the problem.
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Nice video, concept made easy to understand.
Blockchain technology can be used wherever there is work or process flow to correctly identify source of issue.
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Right , many problems in banking system ......high transaction fees , and slow working process.
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the video seems to be very useful for the future generation.
Glad you think so!
Omg even a new born baby would understand this!!
answer: a: Public distributed ledger, see why it uses lots of electricity since everyone has a copy. Thanks for the explanation.
"Hi, you got the right answer. Kudos.
The contest is over and winners have been announced in our community and also mentioned in the top comment of the video as well. Thanks for your participation.
Explanation:
Answer: A (Public Distributed Ledger)
The concept of public distributed ledger ensures that everyone on the Blockchain network has a copy of the ledger. Thus, no single person can make changes in the ledger as everyone else will flag this as invalid.
"
7minutes but it resumed hours of studies... thank you
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I will go with option A
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Thank you, the session was amazing 🤩
My gosh, cash is so much simpler
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You guys have elaborated it very nicely keep adding such content to your channel. Looking forward for more such videos
P. S:answer is hashing algorithm
Sure 😊
Sir they are transferring money to jack independently why in that block chain after transferring the amount to jack other 3members balance of coins are shown in the individual transaction
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Answer is hash encryption
I love this video and it really give me a good understanding on blockchain
"Hi, we are sorry to say that you got the wrong answer but in any case, we are glad seeing your participation in the contest.
The correct answer is
Answer: A(Public Distributed Ledger)
The concept of public distributed ledger ensures that everyone on the Blockchain network has a copy of the ledger. Thus, no single person can make changes in the ledger as everyone else will flag this as invalid. "
Public distribution ledger
"Hi, you got the right answer. Kudos.
The contest is over and winners have been announced in our community and also mentioned in the top comment of the video as well. Thanks for your participation.
Explanation:
Answer: A (Public Distributed Ledger)
The concept of public distributed ledger ensures that everyone on the Blockchain network has a copy of the ledger. Thus, no single person can make changes in the ledger as everyone else will flag this as invalid.
"
Best blockchain explanation on RUclips. Thank you
Glad it was helpful!
Hash encryption is the concept and this blockchain concept is superb that it's interesting and forced me to know more on this
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Amazing explanation... Really Loved It. Thank You!
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Fruitful video with time saving and better understanding! 🌺
Glad it was helpful!
Finally.... Thanks for the clear explanation
Glad it was helpful!
Public Distributed Ledger and Encryption both are the answers I guess.
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No, I have never wondered if there's an easier way to complete transactions. Swiping my debit card was never difficult. I feel like the most difficult part of a money transaction is actually getting the person to pay you.
You got a point but blockchain is all about secure transaction and decentralization.
I still can't figure out what "problems" this is actually solving (other than putting everyone further into slavery). So now you have to work for the money you're already spending transaction by transaction? Review a ledger and validate each transaction? Sounds more burdensome than anything.
Thanks, before watching your video blockchain technology seemed to be a hard topic, now I understand the main principles of Blockchain
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D. Hash Encryption
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I'm quite new into the Blockchain technology, and I have a question on the part where you say "public distributed ledger", where all Phil's friends have a copy of the ledger and know how much bitcoin Phil has left (1 bitcoin left at minute 2:56).
In this case, does it mean people who have a common copy of your ledger will always know how much "money" (bitcoin for example) you have in your account?
Apologies if it is a dumb question, kinda new here 😅
The ledger (blocks) are encrypted, so no one can see how much Phil has in his account.
They would, but they would also have to know Phil's wallet address. Without out, they wouldn't know how much money he has. Thank you for watching!
Finally starting to understand this a bit more. It has been a slow process, need to rewatch it again. Thanks!
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I saw your video today and I am sad as I couldn't participate in the quiz ☹️
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@@SimplilearnOfficial i have subscribed on the 1st day i saw this cryptocurrency video of yours
I can unequivocally say that crypto trading is one of the most profitable and lucrative business for every investors with the right expert or platform.
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Best explanation I've come across!
Glad it was helpful!
Ears listening in english, eyes looking in chines.
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Perfect for a quick understanding of the concept before deep-diving into it. I was wondering in relation to the Walmart example if blockchain also describes the system of tracking damage when engaging in carsharing. Hereto, when you take pictures and note potential damage to the car before and after use, for the company to track when the damage to the car has occurred?
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Good soul with good intention... I respect your replying attitude...
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Hi! Thanks for the video. I think the answer isn't public distributed ledger, but instead it is proof of work or proof of stake depending on the type of coin/network being used. In a public distributed ledger, the data can actually be altered because of the rule of majority. So if a majority of the group of users decide to be fraudulent and make a even longer list of blocks in the blockchain, then the network will consider that to be correct as it deems that whetever is longer is correct. In this scenario, they can make changes to the data in the blocks. If the question was "what is the concept of blockchain that ensures data cannot be altered by any SINGLE user within the network, then the answer could be public distributed ledger since 1 persons work will not outwork the majority of the people who are validating blocks using proof of work/stake. Id say the closest answer is proof of work/stake as it is a way of validating blocks in the block chain. Once a block is validated, then it becomes permanent. Would you agree? Thanks!
"Hi, we are sorry to say that you got the wrong answer but in any case, we are glad seeing your participation in the contest.
The correct answer is
Answer: A(Public Distributed Ledger)
The concept of public distributed ledger ensures that everyone on the Blockchain network has a copy of the ledger. Thus, no single person can make changes in the ledger as everyone else will flag this as invalid. "
@@SimplilearnOfficial hi thanks for the response! Yes, no SINGLE person can make a difference. But the question stated that users cannot make a difference which is wrong cause they actually can if they gain majority of the users. If you put the words no single user can, then that would be correct. But that is not the case in the question so the closest answer is proof of work.
The secrete of the future is hidden in your daily routine. Crypto and fx are the future.
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Down with transaction fees
This is a great base for learning blockchain. But also, that was one expensive dinner! 2 bitcoins each!
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"Phil sends two Bitcoins to Jack".... Get well Phil
:))
Phil is now very very upset, we agree. Thank you for watching!
Public Distributed Ledger
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You explained so well ... Thank you for saving my time
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D: Hash Encryption
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@@SimplilearnOfficial Hi my email is kumarr.85@gmail.com. Thanks
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