What is Blockchain? Blockchain Technology Explained Simply

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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[Bitcoins]

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[billhammett]

This series is outstanding! Best in class.

[Equanimity]

I’ve watched a few videos about blockchain and this is honestly the only one that helped me understand what it is, thank you!

[nubee]

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"

[stocksandblocks]

Our mission is to inform people about blockchain. You are doing a great job!

[MKlyfe]

One of the best videos (if not the best) I have seen on understanding what bitcoin and blockchain is.

[codertypist]

This video should be moved up on the playlist. It's very helpful for understanding the previous videos.

[DanFreemanThee]

By far the best explanation of Bitcoin & Blockchain I've seen.

[shreeveda]

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. 😄👍

[PSModelling]

Full marks for Encyclopaedia Britannica comparison very intuitive way to understand the difference.

[AntuNeelesh]

Thanks for such lucid and simple explanation, it made my day !!

[nathanielmink]

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.

[Greg.Lacoste]

loved the video. been looking to educate myself on this tech and hopefully be able to spread the information. Thank you

[lericamims]

This is very informative. I like that you did a bloopers at the end. Made learning fun!

[georgeawad]

watching this video is a game changer for me walking into the future

[carolynoconnor]

Thanks for such a video, I have seen that many fails to explain the concept so clearly.

[MyOneEdit]

It is hard work to make these videos by the look of the bloopers. It is harder to explain complex concepts clearly. Great job. 👍

[m.money]

This video was so helpful much easier to understand, explained so clear thanx!

[OpeLeke]

your videos are high quality man. keep it up

[lawsonjames]

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.”