What is blockchain?

Each cryptocurrency has its own blockchain. But what exactly does it do? In simple terms, blockchain is the underlying technology that makes cryptocurrency possible.

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0:17 blockchain definition
0:41 cryptocurrency blockchain
0:56 bitcoin blockchain explained
1:17 bitcoin mining explained

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The blockchain it gets confused and mentioned alongside Bitcoin and other cryptocurrencies a lot but what actually is it simply put blockchain is the underlying technology that makes cryptocurrencies possible crypto currencies like Bitcoin the blockchain is a secure system that records all transactions publicly all transactions that have ever been made are visible on

The blockchain if public nature means anyone can access it and view it each cryptocurrency has its own blockchain let’s look at the Bitcoin blockchain in detail now clever person Albert Einstein famously said that he saw his life in terms of music similarly the Bitcoin blockchain can be compared

To an orchestra each musician with their instrument is like a miner with his equipment they play along to a song a musical note is the example represented as an individual Bitcoin transaction many transactions make up a block similar to many notes making up a song many songs make up an orchestras concert

Just like many blocks make up a blockchain each musician has an identical copy of the sheet music in front of them they need to collectively listen to every note and ensure the orchestra is in tune with a song this process of validation is similar to miners validating each transaction in

The block musicians can easily detect when a false note is played as it doesn’t match the sheet music in front of them similarly transactions can also be out of tune in this case the transaction is rejected and not verified to be on the block like a constant flow of music in a

Concert blocks or validated transactions can constantly be added to the blockchain there we have it as Shakespeare never said if music be the blockchain of Bitcoin let’s play on [Applause]