I am going to explain what a blockchain is in very basic terms.

By the end of this article, you'll be able

to explain this life changing technology to those you love. Saving them from the authoritative
dictatorships that never cease to control your every move. Mostly just ideas, so let's get into it.

What is a block?
A block is just a bunch of data. In fact, the data could be almost anything, but usually it's just a
collection of records. For the Nu Mero, Uno, Crypto, Bitcoin, this data is literally just a list of
transactions. For example, it might look like this.

X pays Y $50 A pays B $80. And Y pays H $15. If we're dealing with Ethereum, it's usually just
transactions, but it can be a few other things like things called smart contracts, which are really neat,
but we'll have time to explain them in another video. For other alt coins, they could be the usage of
your wifi or files or documents.

Nonetheless, a block is just a collection of records. For this example, to explain what a blockchain is,
I'm gonna stick with a record of transactions like in Bitcoin specifically, we call this record a ledger
because it is a record of value exchanging hands. Now, one thing you need to know is that blocks do
have limits, and they can only have so many transactions in them.

We have to keep adding more blocks. For our example, Bitcoin has an average of around 1,500
transactions in one block right now. Now this number changes, but you don't really need to know
why. Just know that these blocks do fill up and then we have to do something with them. Well, what
do we do when these blocks are full?

We add them to the network. Now you might be asking, How do we do that? Well, we do something
called mind them, and since Bitcoin is a proof of work model, we have to prove that we mind. This
brings us to something called a hash.

What is a hashing function?

A hashing function is a system where you can put something into it and it'll output a hash.

Now, there's a ton of math happening inside this magical black box, but essentially you give it
something and it gives you something. In this case, Bitcoin uses the Shaw two 50. Hashing function.
Shaw stands for secure hashing algorithm and 256 refers to the amount of zeros and ones that it has
in whatever it puts out.

So whether you put in your name or the entire dictionary, it'll always output 256 zeros and ones.
Now our computers are smart, so they convert these zero to ones, to letters and numbers, and it is a
complicated process and could be a video on its own, but Essent. With hashing functions, you need
to know three main things.

Number one, you can't find the input of a hash. You have to guess and check. So if you give it a, it
will give you D. Then if you give it A A, it'll give you J, and then if you give it A A, a, it'll give you u.
Imagine if you wanted to find out what gave you an F, you'd have to just keep adding more a's until
you found it.

The second thing you need to know about hashing functions is that changing the input, just a tiny.
Changes the output a lot.

And lastly, the third thing you need to know is that calculating the hash takes some time. Now, it
might only take a few milliseconds for one tiny string of text, but if you have an entire book that
you're. Or if you wanna check a few million variations of it, it starts to rack up time and computing
power

The next thing to know about a blockchain is that it is decentralized. Now, this doesn't have to be
really confusing, so think about it like this. Centralized means one person controls it. For example,
your grades in high school, only your teacher had access to add in your grades or change it. They
could flunk you if they didn't like you and nothing personal here, but maybe you just didn't
understand what they were teaching because they sucked at teaching anyways.

Decentralized means that more than one person can have. To look at and change your grades.
Imagine if all of your classmates were allowed to look at the answers on the test and give you a
grade based on your papers and your tests. Imagine if they could vote on what grade you got instead
of just your teacher.

Now, this is essentially what decentralized means instead of one person having a list of all the
Bitcoin transactions, literally anyone who wants to can have them and look at. And not only that,
because this is the important part. Anyone can mine and actually vote on the blockchain. This means
they can say, Bill really did pay John $50, or they could make fake transactions and say, John paid Bill
all of his money.
I will make sense of what a blockchain is in extremely fundamental terms. Toward the finish
of this article, you'll have the option to make sense of this extraordinary innovation to those
you love. Saving them from the definitive fascisms that never stop controlling everything
you might do. In any case, we don't actually examine legislative issues on this channel. 
  
Generally thoughts, so we should get into it. What is a block concerning cryptographic
money? A block is only a lot of information. Truth be told, the information could be nearly
anything, yet generally it's simply an assortment of records. For the Nu Mero, Uno, Crypto,
Bitcoin, this information is in a real sense simply a rundown of exchanges. For instance, it
could seem to be this. 
  
X pays Y $100 A pays B $180. Also, Y pays H $150. On the off chance that we're managing
Ethereum, it's generally exchanges, however it tends to be a couple of different things like
things called shrewd agreements, which are truly flawless, yet have the opportunity to make
sense of them in another video. For other alt coins, they could be the use of your wifi or
records or reports. 
  
In any case, a block is only an assortment of records. For this model, to make sense of what
a blockchain is, I will stay with a record of exchanges like in Bitcoin explicitly, we call this
record a record since it is a record of significant worth trading hands. Presently, one thing
you really want to know is that blocks in all actuality do have cutoff points, and they can
unfortunately have a limited number exchanges in them. 
  
We need to continue to add more blocks. For our model, Bitcoin has a normal of around
1,500 exchanges in a single block at the present time. Presently this number changes, yet
you don't actually have to know why. Simply realize that these blocks in all actuality do top
off and afterward we need to accomplish something with them. Indeed, what do we do
when these blocks are full? 
  
We add them to the organization. Presently you may be asking, How would we do that?
Indeed, we accomplish something many refer to as mind them, and since Bitcoin is a proof
of work model, we need to demonstrate that we mind. This carries us to something many
refer to as a hash. So the following unavoidable issue is, what is a hashing capability? A
hashing capability is a framework where you can place something into it and it'll yield a
hash. 
  
Presently, there's a lot of numerical occurring inside this otherworldly black box, however
basically you give it something and it gives you something. For this situation, Bitcoin utilizes
the Shaw two 50. Hashing capability. Shaw represents secure hashing calculation and 256
alludes to how much zeros and ones that it has in anything it puts out. 
  
So whether you put in your name or the whole word reference, it'll continuously yield 256
zeros and ones. Presently our PCs are savvy, so they convert these zero to ones, to letters
and numbers, and it is a convoluted cycle and could be a video all alone, however Essent.
With hashing capabilities, you want to know three primary things. 
  
Number one, you can't track down the contribution of a hash. You need to suppose and
check. So on the off chance that you give it a, it will give you D. Then on the off chance that
you give it A, it'll give you J, and assuming that you give it A, a, it'll give you u. Suppose you
needed to figure out what gave you a F, you'd need to simply continue to add more an's
until you tracked down it. 
  
The second thing you really want to realize about hashing capabilities is that changing the
information, simply a little. Changes the result a great deal. 
Furthermore, in conclusion, the third thing you want to know is that working out the hash
takes some time. Presently, it could take a couple of milliseconds for one small line of
message, however assuming you have a whole book that you're. Or on the other hand if you
want to check a couple million varieties of it, it begins to pile up time and registering power 
  
The following thing to be aware of a blockchain is that it is decentralized. Presently, this
doesn't need to be truly confounding, so consider it like this. Unified implies one individual
controls it. For instance, your grades in secondary school, just your educator approached
include your grades or change it. They could fail you on the off chance that they could have
done without you and nothing private here, however perhaps you simply didn't have the
foggiest idea what they were instructing on the grounds that they sucked at educating in
any case. 
  
Decentralized implies that beyond what one individual can have. To check out and change
your grades. Envision on the off chance that your colleagues were all permitted to take a
gander at the responses on the test and give you a grade in view of your papers and your
tests. Suppose they could decide on what grade you got rather than only your instructor. 
  
Presently, this basically decentralized implies rather than one individual having a rundown
of all the Bitcoin exchanges, in a real sense any individual who needs to can have them and
check out. Also, not just that, since this is the significant part. Anybody can mine and really
vote on the blockchain. This implies they can say, Bill truly paid John $50, or they could
make counterfeit exchanges and say, John took care of Bill the entirety of his cash. 
 
So you may be asking, how would you ensure that somebody doesn't make a. Counterfeit exchange
and burn through the entirety of my cash. Indeed, that is an issue that is settled by utilizing uneven
encryption with digital currency wallets. It's somewhat irritating 
Yet, taking us back to what decentralized implies, that makes one wonder, how could a gathering of
teens need to take a gander at your papers and tests significantly more? So how could they want to
invest a great deal of energy seeing them and afterward grade the. Indeed, in this relationship, they
would be paid to practically in each blockchain, you get a prize for partaking in placing in great
votes. 
  
For instance, for mining Bitcoin, you get compensated in Bitcoin. I trust that relationship seems OK.
Up until this point, we've been over what a block is. It's simply a lot of information, what a hashing
capability is. It's to ensure that individuals really set forth effort to take part in the blockchain.
Furthermore, we've went over what decentralized implies. 
  
It fundamentally implies that one individual doesn't control. Following up, we should realize the
reason why it's really called a block chain. With Bitcoin, there are an additional two things you want
to be aware of. 
  
One, whoever addresses the block and finds the supernatural hash that has anyway many quantities
of zeros we're searching for. They add why Board Crypto's record get two bitcoins for mining at the
highest point of the block, and this is their mining reward. This is the way more Bitcoins are really
made, albeit that number two changes and it gets increasingly small as time goes. 
  
Furthermore, you want to realize that they add the hash of the last block to it, so the secret phrase
of the last block gets added to this block, and that hash is really used to ascertain this block's hash.
So this makes it a chain since each block alludes to the final remaining one. Presently, this is where
the sorcery of the block chain works. 
  
Assuming you attempt to return and alter an old block, the fresher ones all change since you've
wrecked that hash that it highlighted. Recall when we discussed the hashing capability and Shaw 2
56? In the event that you change it only a tad bit, it changes the whole. Indeed, that is the means by
which we can ensure somebody doesn't return and add more cash into their record in an old block. 
  
It could be said, whatever writes added to the blockchain is down in history always on the grounds
that it can't be changed. Presently, this is very great for things like exchanges, however it's terrible
for things like copyright material or humiliating things. However, this the idea of the web. All in all,
we have blocks that comprise of information. 
  
What's more, on account of digital currency, it's normally a rundown of exchanges. Then, after we
have a block, we need to track down the secret word to that block, or fundamentally what is the
hash that tackles that block. What's more, excavators do this by speculating and checking until they
hit the big time. And afterward after they find the arrangement of that block, they ensure that it's
connected to the last block. 
  
So each block really has the. Each exchange on it since it alludes to a past block. Presently since each
block is associated with the last block, this makes it a chain. That is what a blockchain is. I trust that
we've made this confounding theme somewhat more supportive for you to comprehend.