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What is BLOCKCHAIN? The best explanation of blockchain technology

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Blockchain explained in plain English Understanding how blockchain works and identifying myths about its powers are the first steps to developing blockchain technologies. Blockchain is an algorithm and distributed data structure for managing electronic cash without a central administrator among people who know nothing about one another. Originally designed for the crypto-currency Bitcoin, the blockchain architecture was driven by a radical rejection of at (government-guaranteed) money and bank-controlled payments. Blockchain is a special instance of Distributed Ledger Technologies (DLTs), almost all of which have emerged in Bitcoin's wake. HOW DOES BLOCKCHAIN WORK? Blockchain is a Distributed Ledger Technology (DLT) that was invented to support the Bitcoin cryptocurrency. Bitcoin was motivated by an extreme rejection of government-guaranteed money and bank-controlled payments. The developer of Bitcoin, Satoshi Nakamoto envisioned people spending money without friction, intermediaries, regulation or the need to know or trust other parties. Technically, the original blockchain is separable from Bitcoin, but this report will show that the blockchain design is so specific to Bitcoin that it's not a good fit for much else. The central problem in electronic cash is Double Spend. Because pure electronic money is just data, nothing stops a currency holder from trying to spend it twice. Blockchain solves the Double Spend problem without a digital reserve fund or similar form of umpire. Blockchain monitors and verifies Bitcoin transactions by calling upon a decentralized network of volunteer-run nodes to, in effect, vote on the order in which transactions occur. The network's algorithm ensures that each transaction is unique.
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Text Comments (193)
Paul Moffat (18 hours ago)
Just a fancy way to rob people blind.
French Kennedy (2 days ago)
Ok
Thisis Badforyou (3 days ago)
What I don't understand is "What is that complex crypto puzzle?" Is is a random math puzzle or is it some sort of verification algorithm? In any case, who designs it?
muhsink mansoor (3 days ago)
Good video. But have a doubt. Who will be in charge of putting all the datas and information to form a block? Government or individual?
Ammar Mansoor (3 days ago)
Doubt : If the land which stays disputed between Anne and her brother dates back to 1900s and if it has entries dating back to 100+ years, Is there not a possibility that the data entered to the BC in the first place itself could be tampered. For instance, if the data was tampered in say 1970s , then while converting the series of information into blocks, the data that is entered could be tampered one , isnt it ? I have this doubt whenever I read about BC, can someone please guide ?
Gaurav Sharma (4 days ago)
EMP = No electricity, no Blockchain. EMP = No electricity, gold still acceptable. Get it DeepMind? Lol
ESSECIFILMPRO (5 days ago)
shared https://www.facebook.com/uhdworld.essecifilmpro/
Frasure Myler (6 days ago)
I found some very unique features with *FIRST MILLION ROAD* while trading as a real user
Crypto Fan (6 days ago)
Clear explanation about blockchain, thank you. I also like to listen to Andreas Antonopoulos' speeches from the cryptomonny.com/app
Proverbs 3:5 (6 days ago)
Total controle. They coming after us. Total depravity.
Dave Joseph (6 days ago)
What if Anne dies? The blockchain does not contain Anne's will. I don't understand this foolishness. Yes, blockchain might be great for some simple data, but then again aren't bitcoins being stolen on a regular basis? How is that possible?
Dave Joseph (5 days ago)
If coin exchanges are run by idiots then the entire system is idiotic.
redhotsun51 (6 days ago)
Coins are stolen because idiots reveal their passwords
Vinzent von Witten (7 days ago)
nice! where's the sound from?
Francisco Rojo (7 days ago)
Doestn the hybrid method defeats completely the blockchain purpose? if only some selected few can change the data without the authorization of the net the inherit trust is completely undermined... yes, sure "their" system would not permit it, but since they have access to everyone who creates the blocks they can change the information at will, am I misunderstanding something?
Smufter16 (7 days ago)
The bigger the front the bigger the back. Like so many ideas, everything sounds great until you inject the human elements of greed, power, and corruption. That which is created cannot protect against the vices of the creator. Continued digitalization of everything also results in decreasing security of everything. Think how unsafe online voting is....no paper trail = manipulation. Now multiply that by a very large number. So many ways and levels to infiltrate and subvert this. Once you strip away all the mumbo jumbo it becomes clear where this is all going....centralized control. The wet dream of the globalists.....
Tim Tayshun (8 days ago)
"BitConnect EXPOSED! New companies forming to cover up old ones? WE NEED THE TRUTH!" Marian Murphy also shilled for BitConnect SCAM in addition to Onecoin ponzi! Marian Murphy is OBVIOUSLY A FULL TIME THIEF AND SCAM ARTIST! HEARTLESS AND FULL OF CORRUPTION!!!! She will go down with the ship! ANYONE IN MARIAN MURPHY'S DOWNLINE SHOULD REPORT HER IMMEDIATELY FOR PONZI/ PYRAMID FRAUD THEFT, AS WELL AS SELLING UNLICENSED SECURITIES! (I thought she was a "victim" of Onecoin scam, but we have uncovered the truth, FINALLY! She is part of the problem, and a conspirator to economic fraud crimes of her down-line!)
Antonio Sergio (9 days ago)
Am giving my testimony on how I made $30,000.00 dollars Western Union Hack from psiphonhackers.wordpress.com
Su L (9 days ago)
Center for “INTERNATIONAL GOVERNANCE” OR “New World Order” Or “One World Government”…. … it sound more like a centralized control system……and invasion of privacy…..people would rather pay their lawyer …. And keep their privacy......than to let SATAN handle it……Old system is good….Say…..NO Thanks!.... to block chain.
Rudolf Dr Mauch (10 days ago)
good one!
Cata strophic (10 days ago)
this vid was just a general informative to me . It seems like it needs a lot more technical explanation for me to understand their presentation .
jngf100 (11 days ago)
Very good explanation
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Kranthi Kumar (11 days ago)
Best explanation thank you
tellyaddict3 (11 days ago)
Not sure about that blender though, it confuses (and scares!) more than it explains. It's supposed to symbolize the mixing of a particular set of technologies to make a (trusted!) blockchain possible, but when you visualize that as a bloody mary then it's not a particularly trust-inspiring metaphor is it? :-) To be clear though, I am a fan!
redhotsun51 (6 days ago)
its not a bloody-mary; its a frog - Joe Cartoon
Dr Bob Gregson (12 days ago)
Hodl bitcoins and earn 65% every five working days. Contact [email protected](.)com to get started.
dream guy (12 days ago)
Hello i am a bitcoin investor i need to sell btc intrested buyers can give me a message on [email protected] or my whats app number- +919502964228
Nagaraj Bhadrannavar (12 days ago)
1 ETH Giveaway 🔥 | Next Crypto Giveaway on 300+ Subs | Crypto Khabri https://www.youtube.com/watch?v=gwQNp7Mvj9g&t=1s
黎跃春 (12 days ago)
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Stephen (13 days ago)
Most overhyped technology. If i own a bitcoin and lose my private key or somebody steals my private key its gone forever. With my $$/bank account/credit card i dont care about these things. Blockchain tech where you are the only party controlling private keys actually makes things much worse,all it takes to lose private keys and its all gone forever. It happened to a lot of people who lost tons of BTC, bc of this it will never go mainstream Same goes for land titles, car proof of ownership etc centralised gov agency is needed in case you lose access and need to ID yourself. Regulated 3rd party is the best way
NvZ (12 days ago)
that is why they will replace bitcoin with RFID chip. they will use media to incite fear in people that hackers can and will take over their identity unless they get the RFID. bitcoin is only laying the foundations, digitally and mentally, for the Banking Elite. if you have assumed that the Elite have your best intentions at heart, you need to study up on some actual (non gov. propagandised history)
afarhan21 (13 days ago)
I would like to see how things are done today against how things would be if blockchain technology is adopted to do them. What difference does blockchain makes to current methods?
NvZ (12 days ago)
it removes humanity and hands full control to the Banking Elite.
NS Farm (14 days ago)
Paypal let me send money to different users in different countries with minimum fee. For land ownership I have a certificate from the country its shows that I'm the owner of the land. If I lost the block chain address thats mean i loss my land and money.
NvZ (12 days ago)
or if a hacker took over your identity, then you lose everything and get locked away for trying to fight the 'all perfect' system
niharika sharma (14 days ago)
Blockchain Unable to Meet the High Demands of Financial Market Infrastructure- Dutch Central Bank https://coingape.com/blockchain-demands-of-financial-market-infrastructure/
Bracer Jack (14 days ago)
This is a detail technical explanation of how the Blockchain actually work: https://www.youtube.com/watch?v=FeeVuqO1M6k
Lord Of Lords (14 days ago)
1 ETH Giveaway 🔥 | Next Crypto Giveaway on 300+ Subs | Crypto Khabri https://youtu.be/gwQNp7Mvj9g
Predictive Ideology (14 days ago)
Love this explanation! Brilliantly simple, clear and easy to understand.
Daniela Oliveira (16 days ago)
This was the best explanation I've seen online so far.
Hamoudy Akrabi (16 days ago)
Best explanation 👍🏻
Bean David (16 days ago)
Is blockchain powers have the ability to make people become blind? Bitcoin has no foundation of where the "money" came from. What about the other 100s that are savvy enough to jump aboard the suicide train before it crashes. Would you willingly give me your real money for my make believe computer money? Am I stupid enough to give you real dollar change for 1 bitcoin? Everyone in this pyramid scheme has to con the next person thru the guise of greed that they will become rich. Which may be true depending how long it takes before the people that this is a house of cards waiting to tumble down.
Bean David (17 days ago)
The people who own bitcoins....do they have an ATM card to withdraw real cash? Who gets to audit the system? Where is the real money that went into the "blockchain" to validate the cryptocurrency's worth?
NvZ (12 days ago)
only the Banking Elite will have control to audit. this system removes the human side out of the system - they say it is to remove human error - but it is to remove any ability to hold them responsible for their actions and decisions.
Anucha SeoDml (17 days ago)
Oh man. This has to be the best blockchain explain ever!
NoName NoSurname (17 days ago)
Guess who will have *superuser access* to all data on blockchain? Of course *The Maker* :)
Francisco Rojo (7 days ago)
no, but isn't he right? if he has the hashing algorithm, he doesn't need any proof of work to create more blocks
NvZ (12 days ago)
not the maker, but the owner(s)
billy vandory (17 days ago)
thats like saying just cause the maker wrote a hashing algorithm, he could reverse the result back to the root. the answer is no.
Philson (17 days ago)
Good video, but the currency aspect is not explained. It makes blockchain work.
Mark Green (17 days ago)
We are already going for you, a perfect project and a right choice of HITBTC exchange to add token to trades. Tracking for changes on your project for a long time.
la fan de nuel (18 days ago)
I'm always suspicious when any company has to spend money creating (or inventing) an independent entity, call it a center, an institute, an association, a platform.... to make all of us see how simple, trustable, decentralized, controlled and verified they are. And I get even more suspicious when they have to spend even more money on hiring a publicity agency which then hires writers, director, graphics designers and an actress with a calming, soft voice that appeals to our trusting feelings (with all that crap of unconcious calming effects of mothers voices). All those spends make me distrust. Someone paid for the making of this video. I don't know who, where that money came from and why was spent on this. And I don't know what's the expected reward on that investment. Whether my personal data, my money or both. I guess both.
NvZ (7 days ago)
+Denso59 agree.
Denso59 (11 days ago)
Indeed that video seem very costly and it's a good question to ask Who benefit from that ? Let's just assume that people get really excited about that new trend and they want to be a part of it, also making a great video about a new trend can bring you more views, more subscribers and then more trafic. But you're right the quality of that video and the work involved kinda give us the feeling that there's something fishy behind it.
billy vandory (17 days ago)
where do you idiots come from, this video seems full of them.. you do realize that this video is pushing a paradigm and not some product made by abc software, right? RIGHT?
JD Wright (18 days ago)
Skynet
billy vandory (17 days ago)
why, because its a nodal tree?
Ryan V B (18 days ago)
This was so clear that even I understood it. Kudos.
Nobody Move (18 days ago)
It’s the blark of the beast.
NvZ (12 days ago)
the foundation there of
Gregory Kirk (19 days ago)
Love it. So wise. Brilliant.
Bean David (19 days ago)
Tell me if fraudulent entries are entered into blockchain who is there to disprove the info uploaded? Soon this false information is deemed true. What happens when the original data is destroyed to cover up the false entry? And if no one is overseeing the data and the real paper trail is destroyed the creator of the computer data is now the greatest thief. Idiots believing in a computer system where hackers are making billion every year. Why can't they stop even a handful of these criminals? Now you are going to let the crooks rule over all things of value?
Yusuf Özen (2 days ago)
Actually, you need to have trillion dollars of worth equipment to alter the blockchain. Because it is secured with the most powerful computer on earth which is distributed over continents and countries. And value for money? If your government pay your salary with a paper and say hey u can use this to buy tomatoes you believe (or have to believe) it right? So people believe that they can buy something with Bitcoin. This makes it valuable :D
redhotsun51 (6 days ago)
Its not stored on just one PC or server. Every change to the information is recorded and synchronised across the network, it's transparent for all parties to see. If Jack changes something in the contract that change will be visible to all parties including Jill in real-time. You can't fake a mathematical crytographic sequence, it's either black or white not both. All nodes store the same information, it's mirrored. It's similar to the original idea behind the internet (ARPA-Net) which was designed to withstand a nuclear attack. If one part of the network was destroyed the other nodes would continue to communicate in a mesh thus allowing a retaliation from another silo. The data can't be manipulated.
tellyaddict3 (11 days ago)
Bean David Check out this video first, it helped me a lot: https://www.youtube.com/watch?v=SSo_EIwHSd4
NvZ (12 days ago)
+Bean David it is backed by China, Russia.. and a bunch of other communists countries, as well as other 'Democracies' that are actually socialist/communist according to their methods of government. the fact is there is no way to prove to everyone that alllll their gold was used to buy bitcoin.. or any other digital currency - and in any case - digital currency is even more imaginary worth than cotton paper money.
Alfamale Teamlead (14 days ago)
This chain is flawed like any other system. And it is good mandate for moving money rather data by the agencies who won't be looking for rules and regulations of any state.
good boi (20 days ago)
And here I was thinking of going to law school.... Just got saved from wasting my money. Thanks a lot.
Papri Das (20 days ago)
A perfect explanation for BlockChain - A relatively secure and decentralised ledger system of database mgmt. which cuts down on intermediaries (saving time and money) and facilitates convenience.
billy vandory (17 days ago)
relatively.. ya you know , medicore.
slimy egg (20 days ago)
So.. if I use bitcoin, EVERY single one of trade (like buy something or exchange for currency) go through this process?and what if someone  try to decrypt that puzzle and creat NEW false brock instead of rewrite record? I can understand rewrite these records is difficult as hell, but what about creat new one?
tellyaddict3 (11 days ago)
Check out this vid: https://www.youtube.com/watch?v=SSo_EIwHSd4
Patrick Marion (21 days ago)
Man, people can't balance their own bank account, is that really simpler than what we already have? do we really need this?
VICTOR PADILLA (4 days ago)
Yes we need this, you cant make movements thru your account in end week nor working hours, and you not longer would need a intermediary that check that everything is fine, you know is annoying that you can’t move your money in determinate time because banks doesn’t work or a lot of things, or for instance if you want you move big qty of money, you don’t have to pay high feeds and txs to move it, man this is very usefull, in determinate time everything will become more automatic
Jea Riley (5 days ago)
If you want to learn an in depth knowledge about blockchain and cryptocurrency in general, you can check out LiveEdu dot tv. They have topics related to cryptocurrency which can help you build your own blockchain. :)
John Michael Ferrer (5 days ago)
This should be essential now. Cryptocurrency is the future. Everyone should learn about it.
linda jackson (7 days ago)
I meant blockchain in all its various forms. It has the potential to make the current financial system much more efficient. But it is early days and the technology has some way to go
Jim Burns (7 days ago)
You're not (balancing a checkbook)? SMH! You'll grow up one day, one way or another! :)
Dodi (21 days ago)
Someone knows the music at the beginnig, please? Amazing explanation, btw. Thanks!!
Dola Vijay (21 days ago)
Hey Lucas Mostazo, nice video, really helpful. One question please. If one computer solves the puzzle for its block and shares the solution to other computers so when the other computers will create a block, they will not have to solve anything and they will be verified. How is this verification true?
billy vandory (17 days ago)
poW are expensive to produce but simple to validate. same way a mersenne prime can take months or years to discover but only minutes to validate
David Vas (22 days ago)
It was a really good explanation until you said a block needs to be completed with proof of work. I know of a crypto-currency that can create a new block for just a few pennies because it doesn't use proof of work or proof of stake.
Shailaja Mahara (22 days ago)
How is this video not in the top search results? Honestly, the best explaination I have yet come across.
geeky stark (22 days ago)
fantastic
Daniel Ott (23 days ago)
In other words...SkyNet
NvZ (12 days ago)
yep
David Vas (22 days ago)
Nah, the guys are currently making Skywire. SkyNet is a little ways down the road.
David Dags (23 days ago)
WOW this is the best most simple video I have watched about the Blockchain thanks guys
Lily Cohen (23 days ago)
BlockChain technology will be revolution in the coming year, people say there are many projects are coming , according to PC mag propy and BlopckGrain are the top projects which are built on the Blockchain technology . lets see how far we can go in this matter. Blockgrain Ico are worth buying or not , kindly help me in the reviewing it.Cargill company is also going to take over this .That will going to make the world hunger free .
Alain Touchette (24 days ago)
i imagine a world with out banks and government, wit blockchain we could vote securely and manage our self. i just wake up this morning, i must be still dreaming!
BMXOPHY (7 days ago)
Hey guys, don't forget to implant your happy chip!
billy vandory (17 days ago)
youre on the right track, electronic democracy is the next step, but we would need a massive global war first
hendrix4151 (24 days ago)
the cube saturn..an environmental disruption could render technology useless.
Manish Sharma (24 days ago)
Those visualisation are more appealing than most of the videos I have ever watched. Kudos to the effort.
TitanSilver354 (24 days ago)
1:34 Haha I know the Steve guy for real! And his name is Steve. Does he know his image was used in this?
Harshit Agrawal (24 days ago)
There are a few doubts I have. Firstly, companies have large servers to store their data. They need large servers because there is so much data which needs to be stored. Now with blockchain each node, ie, each computer would need to store all of that data. Where would be they this large storage space? Secondly, for blockchain to be immutable, the number of nodes in the network must be large. Otherwise all the involved nodes can be hacked or could even be destroyed, thus destroying the entire blockchain claim of immutability. With the growing number of firms implementing their block chain networks, the problems should only become confounded. It maybe that I don't understand it completely or there are provisions to solve these problems already.
Praveen Shahi (1 hour ago)
Hey Harshit, Genuine Question. I can try to give you some perspective regarding what you asked but not the whole thing since it would confuse you with details. Firstly, As you asked about large storage space. It doesn't work like the conventional system. Each node in the blockchain works as a ledger itself, i.e. it holds the data of transaction, for example, Bitcoin as an implementation of blockchain is famous majorly cause of it's decentralized nature. The advantage of this decentralized nature is huge bro, simply cause even if you had the best supercomputers available, you won;t be able to 'HASH' out bitcoin addresses, simply cause it requires 'huge' amount of processing power to reach that specific Hashrate, (that's the mining part am touching here, which has multiple algorithms). So one doesn't need storage space to hold the entry of ledgers, but one would need huge computational power to gain control of the blockchain or to create new blocks. Secondly, Even if I have 10 nodes in the blockchain, to reach to the 11th block itself, requires high amount of processing power, thats the beauty of blockchain, Yes you are right in saying that it becomes better with an increase in the participants, But even if someone gains the control of a blockchain with less nodes, they can't derive any value from it, since it would cost them huge to create further nodes and blocks. Why do you think people gained absurd amount of bitcoins when they were mining in the initial days (read abt the most expensive pizza). Lastly, what you touched upon the increase in the number of companies adopting blockchain, it won;t make the problem more complex cause firstly, blockahin is more like 'JANLOKPAL' , i don't know if you get the reference here, but the power to create and control is in the hands of the participants, that's the catch that makes it the tech of future. This goes way deeper than mentioned in the video but the vid is for the intro part of blockchain only.
Yusuf Özen (2 days ago)
if u want to store all the transaction data since the beginning of bitcoin it is now about 200gb. Nothing impossible to store. But if u ask using a wallet app from the phone, that data still not be manageable. So you don't need to store all data to validate your transactions. Instead, a procedure called Simple Payment Verification (SPV) occurs by ur wallet to validate. That works by getting only info associated with your wallet, not the whole peoples' info in the world.
TheBiban12 (10 days ago)
From Satoshi's white papper about Bitcoin "A block header with no transactions would be about 80 bytes. If we suppose blocks are generated every 10 minutes, 80 bytes * 6 * 24 * 365 = 4.2MB per year. With computer systems typically selling with 2GB of RAM as of 2008, and Moore's Law predicting current growth of 1.2GB per year, storage should not be a problem even if the block headers must be kept in memory"
Joe SGBKU (15 days ago)
Google peer to peer and read it in depth. It will answer your first question. Actually, you should probably just read about blockchain again because I think your questions show you're missing the basics. Just wondering, did you study computer science or anything tech related?
Virat Khanna. (16 days ago)
Harshit Agrawal You know what kinda people can't stand criticism and questioning their beliefs. Such people don't understand that debates and criticism actually helps to detect and eliminate any possible flaws in any system. And anyone who has worked in the programming, coding, systems/product development, management or in operations appreciates and understands the value of criticism and questioning because they know how it can help the process. But this guy clearly loves getting triggered and telling people how great he is in that field instead of sharing what he thinks. Anyways I like the fact that you had questions instead of just following a trend and who knows one day someone might end up resolving these issue making this a really reliable system as they claim it to be. Peace.
Austin Kelly (25 days ago)
Honestly it’s just the internet made more complex and being sold as a more secure data storage system to companies.
tellyaddict3 (11 days ago)
Austin Kelly That's not it. The princples behind this technology are not that complex actually, it's just a new application made possible by a large network like the internet. You could have a single copy of a blockchain on your pc but then it's no use to the rest of us because it's just your own private database. By having everybody have a copy and synchronizing over the internet then it becomes useful because through the block hashes it can be ascertained that there is no tampering going on and thus consensus is maintained. See this vid, it really helped me a lot: https://www.youtube.com/watch?v=SSo_EIwHSd4 Also note that Bitcoin was not created for companies but in reaction to the banks and the financial crisis that they brought about. It is truly the currency of the people, not the banks or any government.
billy vandory (17 days ago)
no, youre completely wrong
Jin Literatus (27 days ago)
You explain very clearly. Thank you. Can you do a video about new ICOs too? I'm interested specifically in SciDex.
phyroxin (27 days ago)
Before watching this I witnessed my very first cryptocurrency ad for Dash. Bullish signal!!
tellyaddict3 (11 days ago)
Sorry prefer Monero.
Hasan Ali (28 days ago)
best explination thank you :-)
harrybrown261 (28 days ago)
Steve you sneaky little weasel
Francisco Diaz (29 days ago)
very informative
Vincent laganah (29 days ago)
I love a friendly use cryptocurrency like electroneum for Easy to use
Ashraff secp256k1 (29 days ago)
This is the MOST NAIVE explanation and has no idea about the fundamental understanding of what Block chain is. It not once mentioned Proof Of Work. this is where they got it wrong. All they do is expain a LEDGER NOT BLOCKCHAIN. this video is completely wrong
tellyaddict3 (11 days ago)
Ashraff secp256k1 To be fair, trying to explain UTXO's in a simple introduction to blockchain would be a bit nonsensical wouldn't it? That's for people who decide to dig further or actually start using it (and even then they do not necessarily need to understand what unspent outputs are).
billy vandory (17 days ago)
Thank you!!!
Ashraff secp256k1 (29 days ago)
Roland Izulu please tell me where they speak about POW (howany min into the video). Come to think of it ,they don't even mention UTXO's, Another naive obmision.
Roland Izulu (29 days ago)
Ashraff secp256k1 watch again. It would help you.
Jordan Ortiz (30 days ago)
Surprised, Micro-transactions results in zero fees. Therefore, the possibility of micro-transactions becomes more of a reality.
Roderick Aspiras (30 days ago)
Always the problem is human. Because we trust human to enter the correct data. Machine cannot tell whether the one who entered the data is wrong or not. This will be the weakness I think. So basically it says no more middle man.
billy vandory (17 days ago)
WHAT? haha, omg
ShigureLinMia (30 days ago)
Do anyone know this blockchain Company? https://www.portal.network/
Neo Lebese (1 month ago)
Best BlockChain video ever.
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Frank West (1 month ago)
Excellent overview thank you
Buzz Cartoons (1 month ago)
Wow, this is by far the best and easiest explanation of blockchain. I finally get it! Kinda :P
Inna Filipenko (1 month ago)
Thank you for the great explanation!
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Burcey B (1 month ago)
So, how come you need currency for this technology? Or is cryptocurrency is a type of blockchain?
redhotsun51 (6 days ago)
Cryptocurrencies run on top of the blockchain. They are only one example of a use for the blockchain, there are many many other uses that will become very useful in the future like storing medical records or records of ownership or contracts... Such forgeries as the "Donation of Constantine" will no longer be possible. #donationofconstantine
Goutam Tarafder (1 month ago)
Excellence steps, thanks
Ivan Mendoza (1 month ago)
... data... data... data. Everything is about how we verify, track, store, transfer and interact with the data.
Ivan Mendoza (11 days ago)
In marketing your "attention" is currency. Now, in this financial revolution your "data" is the currency.
tellyaddict3 (11 days ago)
I guess that *is* his point, fair enough...
billy vandory (17 days ago)
and your point is?
jahan besant (1 month ago)
https://bit.ly/2rIHkJV
Sinjin (1 month ago)
once you break the blockchain, you break the bitcoin ^^ so anybody come up with another bs function thats unsolvable like getting the "simple" squareroot, its just CONVINCING ppl that your "function" is important which it really isnt! ITS WORTH NOTHING!! so everybody in our society can live with power,water,food...and even more WITHOUT the need of any money!!!!!!!!!!!!!!!!!
Excellent video, this ours future and even already real. The cryptoworld promptly develops and has big prospects. The generosity and prospects at height was fond of the TokenGo platform. Investors increase that speaks about success of the project. I wish all success become a part us.
Gazanfar Imam (1 month ago)
Excellent Explanation... Now I got it It is really a revolutionary innovation. This will change the world works and it will be extremely helpful for people from mediocre class and poor class.
tellyaddict3 (11 days ago)
billy vandory Because there are still millions of people who don't even have a bank account (because they're not financially interesting to banks) and now they won't be needing banks!
billy vandory (17 days ago)
why?
Muzica Buna (1 month ago)
таком раскладе, рынку бы в целом таковой капы достигнуть к кону года, а здесь какой то эфириум, в общем 22 икса нереально к концу года.
tellyaddict3 (11 days ago)
Scusi?
Vinni Lopes (1 month ago)
I feel like I should understand it 100% after this video but I don’t but I think that’s on me not the video 😅
tellyaddict3 (11 days ago)
Try this one: https://www.youtube.com/watch?v=SSo_EIwHSd4
Sig. Merumeci (1 month ago)
Outstanding explenation !
Roll With Tha Flava (1 month ago)
that was great
franco (1 month ago)
5:10 "It could allow everyone to view property records, but reserve to itself the exclusive right to update them." In this scenario, why would a blockchain be used instead of a single, central ledger that people have "read-only" access to?
billy vandory (17 days ago)
Noooo! my god, it used one way cryptography..oh fuckit i wont bother..ya your right.
billy vandory (17 days ago)
another one that has no clue what their talking about...
rean247 (29 days ago)
I get what you're saying but this hybrid model wouldn't run on proof of work like bitcoin. So then the blockchain is purposely coded so that the company isn't able to do that through this hybrid method. Problem solved. The company isn't taking control of the blockchain in this hybrid model, they have only been given the ability to make changes, transparent, immutable audit-friendly changes.
Tony Antonio (30 days ago)
rean247 thing is, if its a private sistem where the company controls all the nodes, they can basically change the whole blockchain and just place those other “normal” blocks on top.
rean247 (30 days ago)
No everyone would be able to see that the company changed the information because a new block would be added, instead of the company being able to edit the fine print in secret. That's what makes it immutable. People will trust the company/system more.
Divya y (1 month ago)
Is there any powerpoint slides available for this video? please share if available.
Eric Masaba (1 month ago)
Thanks for this. I like the explanation at 289 seconds in. Did you know that that granular data access model is the actual foundation of everything Lotus Notes does? It is the very basis of IBM Lotus Notes Forms and the Security Model which has been in use for almost 40 years.
billy vandory (17 days ago)
Lotus Notes is terrible.
Everest Network (1 month ago)
Visita nuestra Web : https://noticiasbitcoin.io/
Md.Zahurul Haque (20 days ago)
WORLD in hand. block chain system science & technology serve around world give & take face to face platform. Love together, culture, businesses & work. Blockchain...
Md.Zahurul Haque (20 days ago)
Everest Network
Carlo Pacheco (1 month ago)
Can the govt use blockchain as evidence?
billy vandory (17 days ago)
not if the government is run by trump
Parmeet Singh (1 month ago)
Quality? Why so low
Ashu B. (1 month ago)
Quite simply explained with nicely crafted visuals! Thanks

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