What is Blockchain and how does it work?

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Simply Explained has released a new video which talks about Blockchain, how does it work, what problems it solves and how can it be used.

There have been plenty of videos, whitepapers and other papers on Blockchain and with it becoming a big thing and even disrupting industries, Simply Explained released a video which tries to explain it in simple and plain English.

With the focus on Bitcoin as one of the most popular cryptocurrencies which use blockchain, the video gives a rather good insight into what it is all about and how can it be used.

What makes the blockchain really special is its way of storing data so it can’t be changed anymore, also called immutability. This makes blockchain very good when used for important data like transaction or bank records.

Of course, there are plenty of videos and whitepapers that go into further details but in case you want to know the basics, the video is definitely a good way to start.

 

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Slobodan Simic is foremost an IT enthusiast who discovered his knack for writing, which lead to becoming both an IT journalist and later an Editor for a number of publications. He has been covering anything from the consumer- and professional-oriented hardware to software markets and networks. With a focus on chasing down leads, making sure that fresh content is ready for publishing, as well as keeping up with the evergrowing and evolving IT world, writing has become more of his passion rather than just a job.