What is Blockchain Technology? (For Beginners)

This video answers the question "What is Blockchain?" for people who are just beginning their crypto/nft/metaverse/blockchain journey.

This blockchain video is not extensive, however it does introduce the viewer to the essential concepts of blockchain technology.

So what is blockchain?

Blockchain is a revolutionary technology underlying cryptocurrencies such as Bitcoin and Ethereum. It is expected that this technology will change the way we store information and exchange value.

It has three major properties that make it so exciting namely; transparency, immutability and decentralisation.

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OKAY so now that the formalities are over let's speak normally!!!!!!!

Blockchain is a super cool way to store information. Normally, we used to store info in massive books called ledgers but that took soooooo much effort.

Eventually we made them digital and that was a big help but we still faced the problem of people messing around with the data to reflect whatever they wanted to be seen. This still sometimes happens)

Blockchain solves this problem because all info stored on a blockchain is transparent, meaning everyone can see it (people's names can be hidden but not the info itself). Blockchain technology cannot be deleted either and it cant be changed without everyone on the blockchain network agreeing to it.

So what is blockchain???? Blockchain is a way to store info and exchange value transparently with no one particular person or group incharge.

I hope this video helped you with a basic understanding of what blockchain is. In future videos we will looker in more detail how this technology works.

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