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Blockchain technology is a way of managing a ledger of records in a decentralized manner. It means that everyone participates in maintaining and updating the ledger, which makes it practically impossible to falsify.

While Blockchain technology is a good solution to the issue of centralization, it’s also very inefficient and slow, therefore it should only be used if the problem at hand is indeed centralization.

That’s Blockchain technology in a nutshell. If you want a more detailed explanation about the Blockchain and how Blockchain technology watch the complete video , here’s what I’ll cover:

0:54 – What blockchain aims to solve
2:48 – Bitcoin: the decentralization of money
3:10 – Decentralization opportunities
4:04 – Blockchain explained in a nutshell
5:16 – How does blockchain technology work
10:05 – Ethereum in a nutshell
10:26 – Private blockchains
11:40 – Public blockchains
11:58 – Is blockchain the next big thing?
13:12 – Conclusion

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42 thoughts on “What is Blockchain? Blockchain Technology Explained Simply”
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  8. BTC for $75k by the end of this year & control of the currency is already decentralised and now the China disruption would simply decentralise the mining setup for the better.

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