How does a blockchain work – Simply Explained



What is a blockchain and how do they work? I’ll explain why blockchains are so special in simple and plain English! Want to buy Bitcoin or Ethereum? Buy for $100 and get $10 free (through…

44 Comments

  1. Having metaphor after metaphor is only making this 10x more confusing to understand. Calling blocks actual square physical blocks and addresses fingerprints isn’t helping me understand this at all! Be straight forward

  2. Still doesn't make any sense. What if a new node joins, is given a fresh copy of the ledger (by whom? we still don't know that yet), then the new node's power goes off for a week, and when it comes back on, the new ledger doesn't correspond with the old one, and all of the new blocks would be rejected. The way it is explained here, the problem of unupdatable nodes would result in all transactions being rejected. Obviously that's not the way it works, but if it isn't I'm still trying to find an explanation. Something tells me I'm not going to find one because all of these cryptos are giant ponzi scheme scams!!!

  3. Why do you need to recalculate all the hashes if you tamper with the very last block in the chain only? Wouldn't all following block just take the hash of the tampered block as the valid hash? I mean that's if the network wasn't distributed of course, with it being distributed you need to do this for more than 50% of the peers.

  4. Great explanation. A lot of the ones I was seeing in article form by simple Googling had some pretty asinine analogies. This is straight to the point and easy to comprehend.

  5. I have developed a really useful n amazing android app called "Crypto Control" It lets you track prices of all major Cryptocurrencies like Bitcoin, Ethereum, Ripple, Litecoin etc on a real time basis.

  6. chain of blocks that contains information
    originally used to timestamp the document, to avoid the copying
    Distributed ledger that is completely open to anyone
    once the data is recorded inside the blocks, it becomes very difficult to change it
    Proof-of-work mechanism to avoid the block tempering
    security of blockchain is by hashing and proof-of-work
    Smart contract for more security

  7. I did not understand how you can calculate all the hashes of a blockchain after tempting with one block (mentioned at about 3:00 minutes). How do you do it since you don’t know all the following blocks current hash?

  8. Thank you, good review. A promising project for investors and all participants is the TokenGo project. There are many assumptions about where you can invest your money. I would advise TokenGo, this company has modern technologies in the field of ICO. Allows them to lead, and also has for this all the necessary functionality.

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