the goal is to explain the blockchain in plain english, so anyone can understand it. Note in this guide, ill be explaining how the concept of the blockchain works i wont be explaining how the blockchain technology is implemented in detail, as thats beyond the scope of this article.
If you and technology havent got friendly yet, but youve googled blockchain at least once and then given up, overwhelmed with all the information coming at you and flooding your brain dont click away! When blockchain was first created, its full potential wasnt obvious to everyone.
blockchain is an algorithm and distributed data structure for managing electronic cash without a central administrator among people who know.
blockchain in plain english published on may 8, 2017 may 8, 2017 3,076 likes 232 comments.
david schatsky, managing director at deloitte a blockchain is a digital and distributed ledger of transactions or decentralized database that keeps continuously updated digital records in real-time across a network of computers. Every transaction must be cryptographically validated before being permanently added to the ledger.
in laymans terms, blockchain is a system of storing data where it is impossible (practically) to alter, tamper, or hack the data, also everyone who has access to the system can ensure the integrity of the system! So, to get blockchain explained in plain english, try to think of something like this.
Unless youve been living under a digital rock, you would have heard about blockchain, and chances are someone has told you it will change the world and be the downfall of banks (or similar grandiose claims). Unless you are part of the 1 that understands what blockchains are and how they work you are probably at a loss.
the ultimate guide to understanding blockchain in plain english. Unless youve been hiding under a rock, youve probably heard the word blockchain being thrown around recently.
blockchain is the technology that underlies cryptocurrency. A database is a collection of information stored on a computer. It is structured into a table format, allowing the data in that database to be more easily searched and queried.