What is blockchain? Blockchain description easy to understand
What is blockchain? Blockchain description easy to understand
Today, I will explain about blockchain technology. Please let me know if you found something I know wrong or have any questions regarding it.
I hope you know some facts before reading this article.
- Bitcoin cannot be duplicated because it uses blockchain technology.
- Bitcoin uses the technology of blockchain, so anyone can trust and exchange it, and cannot lie.
- That is why it can be used as currency.
Let me explain.
- Elementary school level explanation
I'll think about a class in elementary school. Here, a student named A lends 500 dollar to B, and talks loudly about it. "A student lent 500 dollar to B student!" And some of my friends who heard about it write it in their notebooks. If this happens, I can't lie about the fact that student A lent 500 dollar to student B, and I can't lie. Here, half the world becomes, and friends who write in notebooks become widespread all over the world. And anyone can open that notebook on the computer. The fact that we exchanged is spread all over the world, so we can't replicate or lie.
- General-level description
The fact that bitcoin is exchanged between people is automatically recorded on the Internet. For example, A gave one to B, B gave two to C, and D gave 0.5 to E. These records are automatically recorded and then filled in a single sheet of a4 paper, they automatically spread to anyone on the Internet. But E was not feeling well, so I decided to erase or change 0.5 record from D. However, because this record is stored on computers all over the world, you can't change all the records on computers all over the world. That's why you can't lie or clone it. But would it be possible if you were really determined to change all the records in the world? It's impossible. This is because the previous a4 paper record remains on the a4 paper, which was made by accumulating the following records. Not all of them remain, but some of them are recorded. So even if you change that record all over the world, it turns out to be fake and becomes invalid because it doesn't match the new record that was made thereafter. In other words, people all over the world can trust, write, and trade because they can't change their records.
- Semi-professional description
When Bitcoin is exchanged among people, it is stored on the Internet. And it is automatically made into a single file and uploaded on the Internet every certain time. This is what blockchain calls "block." You can understand it as "a file with transaction records for that time every hour. But this block has a password, which is associated with the old block and the next block. Because it's connected like this, there's a 'chain'. Since the first person who unlocks this password can receive bitcoin with the product, many people challenge to unlock it. And when someone unlocks the password, it's shared to everyone who's been trying to unlock it, and it's automatically saved to the computer.
This time, let's assume that someone has a bad heart and hacked into one block to change the transaction record. But in the meantime, the next block will come out. And since the block has a password related to the previous original, you have to change the block behind you to completely change the transaction record. Of course, in between, the blocks in the back will keep coming out. And to change this transaction record, you also need to change the record on other computers around the world. And since Bitcoin only acknowledges that the longest chain of connected chains is real, if you don't change the world-wide record in real time, the false copy is automatically judged to be fake and ignored. That's why it can't be manipulated or duplicated.
This is the end of the explanation of blockchain!
I tried to explain it as easily as possible, but it got too long to read.;;
Thank you for reading it!
