What is a Blockchain? Answered in 2 mins | Coin Ceylon – Learning
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you’ve heard the buzzword blockchain but
what’s the story behind these digital
chains flashback to
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1991 researchers devised a technique to
timestamp digital documents ensuring
they remain tamperproof think of it as a
digital notary but this concept remained
dormant until 2009 when someone named
Satoshi Nakamoto gave it a new purpose
enter the era of
Bitcoin a blockchain is a transparent
digital Ledger open to anyone and almost
impossible to tamper with every block
has data like transaction details in
Bitcoin it’s Unique hash think of it as
a digital fingerprint and then also the
hash of its predecessor connecting them
all in a chain but there’s a catch
modern computers can modify a block and
quickly recalculate hashes so
blockchains introduced proof of work a
mechanism that intentionally slows down
the addition of new blocks for Bitcoin
it’s a hefty 10-minute task tamper with
a block you’ll be recalculating for
every block after that time consuming
right and there’s more blockchains
aren’t stored in one place they’re
decentralized spread across a vast
peer-to-peer Network every member has a
complete copy when a block is added
everyone verifies it consensus is key if
the majority disagrees with a block it’s
discarded to tamper with a blockchain
you’d need to change all its blocks redo
their proof of work and control over
half the network an almost herculan
task blockchains keep evolving enter
smart contracts these are many programs
stored on the blockchain automating
actions based on predefined conditions
and it doesn’t stop there from medical
records digital notaries to even tax
systems the potential is vast so that
blockchain technology in a nutshell for
you a Marvel of digital engineering not
just the backbone of
cryptocurrencies stick around for more
insights on blockchains and what you can
do with them that’s all for today tune
into our videos online or on TV to learn
more about blockchain Technologies and
how you can use them to achieve real
world impact an education initiative by
coin seon
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Welcome to the first video of our educational series, designed to demystify the exciting world of blockchain technology! 🌐✨
Timestamps:
0:00 – 0.35 – The History of Blockchain
0:34 – 0.58 – What is a Blockchain?
0:58 – 1.40 – How Blockchain Works
1:40 – 2.08 – Blockchain Applications Beyond Crypto
2:08 – Recap & What’s Next
🔍 What You’ll Learn:
✨ Understanding Blockchain: Discover what blockchain really is, and why it’s so much more than just the technology behind digital currencies.
✨The Origin Story: Dive into the history of blockchain, from its initial concept in 1991 to its revolutionary application since then.
✨How It Works: We break down and simplify the basics of how blockchains operate, including the crucial concepts of hashing and proof-of-work.
✨Real-World Applications: See how blockchain technology is transforming industries like healthcare, finance, and more!
🚀 Why Watch?
✨Simple Explanations: Complex topics explained in a way that’s easy to understand, regardless of your tech background.
✨Engaging Visuals: Our animations will help you visualize how blockchain operates, making learning both fun and memorable.
✨Build Your Knowledge: Perfect for beginners looking to get a clear and concise start in understanding blockchain technology.
👍 Join Our Community:
If you find this video helpful, please like, subscribe, and click the bell icon so you don’t miss out on our future episodes. Your engagement helps us reach more curious minds just like you!
💬 Engage with Us:
Have questions or want to suggest topics for future videos? Comment below! We love hearing from our viewers and aim to build a learning community around the most groundbreaking tech topics today.
📘 Follow Along:
Stay tuned for more of our episodes where we’ll dive deeper into how blockchains can be used in everyday life and how it can transform the future.
🔗 Additional Resources:
www.coinceylon.com
#WhatisaBlockchain #blockchaintechnology #web3education