What is blockchain?
guys guys here uh we
will
see uh what is blockchain that is uh
from the concept of cryptocurrency and
the Bitcoin so we should know about the
blockchain don’t Des spook by techno
bevel that people
use to describe blockchain
what is blockchain a blockchain is just
a database it is not a parly
sophisticated one either you could
create in spreadsheet with minimal
effort uh there are some pecularities
with these
databases the first is that blockchains
are
opened only that means that you can only
add
information uh you can’t just click on a
cell and delete stuff that you have
already added uh change it in a
way the second is that each entry called
blog and database is
cryptographically linked to the last
entry in plain English
each new entry must contain a sort of
digital
fingerprint hash of the last
one
and that is since each fingerprint
points back to last one you and of
blocks are as cool kids like to call it
a
blockchain uh blockchain is
immutable if you change a block it
changes a
fingerprint and since that fingerprint
is included in next
block the next block is changed
to and since that blocks fingerprint
well you get the
idea you end up with the domino
effect where any change becomes evident
you can’t alter an
information without everyone noticing
now is that is that real yeah uh
underwhelmed that’s feir the Innovation
here is not from comers some alternative
to Google
Sheets it that everyone can download
blogs from other people on the network
to build identical copies of the
blockchain on their computer that’s what
software we mentioned earlier
does suppose that you and your friends
allies Bob Carol and John are running
the
software uh
you might I want to send five qus to
Bob so you send that instructions
everyone else but the coins are not sent
per Carol might decide at the same time
to send a li five coins she also sends
her instructions out the to the network
at any time a participant can gather up
the pending instruction to create a
block next if anyone can make a block
what stop them from cheating it probably
seems very attractive to you to create
block that says go pay me a
million uh coins are to start buying
Lamborghinis and for COD from Carol by
making transactions with funds you don’t
um so friends uh well that’s not how it
works because of uh no free blockchain
knowledge what is block sensus
algorithm uh what is proof of work
double spending explained Game Theory
and
cryptocurrencies uh doesn’t SE fault
tolerance explained so friends this was
the all about
blockchain so friend for this our video
please subscribe our YouTube channel
Blockchain is a revolutionary technology that has transformed various industries, including finance, supply chain, and even video streaming. Let’s delve into what it entails:
Definition of Blockchain:
Blockchain is a digital ledger that records transactions in a secure and tamper-proof manner. It operates on a decentralized network of computers, ensuring transparency and trust.
Cryptocurrency transactions, such as those involving Bitcoin, are tracked using blockchain. Each transaction is grouped into a block, and these blocks are linked together in a chronological chain, hence the term “blockchain” 1.
Decentralization and Video Streaming:
Video streaming platforms have traditionally been centralized, with a single entity controlling content delivery. Examples include YouTube (ads-based) and Netflix (subscription-based).
However, the lack of transparency and concerns about censorship have led to the rise of decentralized video streaming platforms.
In decentralized video streaming, no single entity has control over content delivery. Participants in the network reach a consensus, adding an extra layer of democracy and empowering the community.
Blockchains play a crucial role in enabling ownership within these platforms, providing a foundation for decentralization. They