Blockchain Explained

Fancy a twenty-first century solution to protect your valuables? You’ve come to the right place! To learn about one, that is…

I’m talking about blockchain.

This cutting-edge technology is essentially just a form of record-keeping – think a spreadsheet with some extra features. And whilst that may not sound exciting, the applications that blockchain technology could be used for in the future most definitely are - tracking votes to prevent election fraud, ratifying business contracts, even preserving evidence of human rights abuses…

But what exactly is blockchain? And how could it change the world as we know it? Find out in this explainer video from iluli by Mike Lamb – explaining the ideas and innovations changing our lives.

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0:00 Introduction
0:20 What it is
0:39 How it works
1:29 The process
2:21 Decentralisation
2:59 Consensus protocols
3:51 Cryptocurrency
4:24 Environmental impact
5:12 Potential applications

[MethDealer]

This video is amazingly done and nicely explains blockchain, well done <3

[thunderlocus]

Thank you for enlighting us with wjat a blockchain is. Keep doing what you are doing!

[fasikunvictor]

One of the most informative Chanel, simple but excellence animation, simple languages, relatable examples. This Chanel is Underated

[Guess_the_movie]

Please keep posting like this its very informative thank u!

[BlueminNight]

Don't know what to comment, but Imma just leave a comment to boost algorithm

[Sams-litj]

Well explained. Although, the sound effects and the bgm is a bit distracting.

[yuvalne]

It is important to note that blockchains are only as decentralised as the largest players want them to be. The best example is Ethereum's DAO, a so-called decentralised organisation that had faulty code which resulted in 5% of ALL ETHER IN EXISTENCE to be stolen by a single person. The Ether community just forked the chain, erasing the DAO and the theft out of existence. The unforked chain is called Ethereum Classic, and it is worth 6200 times less.

[igctv]

This is the one I always expected to clarify, extraordinary explanation and details.. Thank you so much Mr.Lamb.. Youtube please 🙏 bump up this wonderful and super creative channels like this. Algorithm please identity...

[ashwikraj]

How does nft's slot in the blockchain system then? I bear they are based on blockchains but canr figure them out

[omarzaitoun]

I love this channel <3
kinda makes me feel a bit smarter

[rohitmundaragi]

Kind of funny you had to upload this video on Apri 1st.

[Xolents]

You deserves more subs, your content is amazing

[sby]

Hornet: SHA!!!

Edit: i expect literally no one else in the world will get this joke.

[aintijustthecutest]

I look forward to your next vid abt Bitcoin!

As someone who knows next to nothing abt this, aside from what I've seen lingering around the net, I'm very much interested in knowing more, without my head exploding.

[kangft]

Omax is building its own blockchain.. invest in it

[anshikbrahmbhatt]

Great video as always, I am really happy that I subscribed to this channel I am always learning something new!

Though what would happen if 50% percent of the population disagree with data before validation and claimed that the data they own is true?

[muhammadsalmanyounus]

Very well explaine thanks for sharing this video

[ricardomodelo]

Can't believe that you made friends in one day

[fouler]

Well i cant lie it was a bit of a buzz word the word blockchain i undertood this video clearly but i havent understood the pirate bay website part

[Sapeiandme]

I didn’t really fully understand this one