Blockchain In 7 Minutes | What Is Blockchain | Blockchain Explained|How Blockchain Works|Simplilearn

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Explore the concept of blockchain and understand what is blockchain with our informative video, providing insights into this revolutionary technology.
This video on Blockchain in 7 Minutesby Simplilearn will help you understand what is Blockchain and how blockchain works. In this video, you will understand what led to the creation of Blockchain, what Blockchain is, how a Bitcoin transaction works, how Blockchain plays an integral role in it with features like hash encryption, proof of work, and mining, and how Blockchain technology is used in real-life scenarios. Now, let’s dive into this video and understand the basics of Blockchain and How Blockchain works.
Below are the topics we have covered in this Blockchain in 7 minutes video.
00:00 Blockchain In 7 Minutes
01:03 What are Cryptocurrencies?
01:30 What Is A Ledger?
03:13 What Is Blockchain?
05:50 How Walmart uses Blockchain?
To learn more about Blockchain, subscribe to our KZbin channel: kzbin.info...
Watch more videos on Blockchain: • Blockchain Tutorial Vi...
#Blockchain #Whatisblockchain #BlockChainExplained #Blockchaintutorial #Bitcoin #Blockchainonlinetraining #Blockchainforbeginners #BlockchainTechnology #Simplilearn
Simplilearn’s Blockchain Certification Training has been designed for developers who want to decipher the global craze surrounding Blockchain, Bitcoin and cryptocurrencies. You’ll learn the core structure and technical mechanisms of Bitcoin, Ethereum, Hyperledger and Multichain Blockchain platforms, use the latest tools to build Blockchain applications, set up your own private Blockchain, deploy smart contracts on Ethereum and gain practical experience with real-world projects.
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[@anthonycarter9987]

D hash [e-mail]

[@theshiningones349]

The Answer is A. Am I correct???

[@prixkatrish3367]

GOD BLESS SHEWENHACKS ON TELEGRAM THEY ARE THE BEST I CONFIRMED 10BTC AND GOT MY WITHDRAWAL SUCCESSFULL WITHOUT ANY ISSUES OR IRRELEVANT CHARGES

[@irprod.5581]

Can we just appreciate how this guy has almost a million subscribers and has the time to reply to every comment. Props to you man!

[@SimplilearnOfficial]

Thanks for watching our video and sharing your thoughts. Do subscribe to our channel and stay tuned for more. Cheers!

[@muhammadmasterminders]

@IR Prod That is called humility.

[@dibyajyothimishra6369]

He is using block chain tech 😂

[@airplayrule]

some of his replies look copy/pasted

[@bhoot1702]

He's using bots bro

[@RobSwizz1e]

I've listened to several podcasts and multiple videos, and so far, this one was the best example for how I was able to finally understand block chain. Really appreciate the video, thank you!

[@SimplilearnOfficial]

Glad you enjoyed it!

[@user-lf9ro2ly4i]

A - PUBLIC DISTRIBUTED LEDGER. And thanks for explaining it in simple way.

[@jacobmunoz4373]

Thank you for so such a simple, in depth, and fun video!

[@SimplilearnOfficial]

Glad it was helpful!

[@SimplilearnOfficial]

Please share your feedback below and don't forget to attempt the quiz at 05:19 (by commenting your email id and answer) to be one of three winners who can win amazon vouchers worth Rs.500 or $10 (depending on your location). We will give out the answer and announce the winners on Monday, 11th March 2019 in this same comment! Happy Learning!

[@Cardioak]

Simplilearn Email: [e-mail] Answer: hash encryption

[@SimplilearnOfficial]

Hi, thanks for your reply! We will give out the answer to the quiz on Monday, 11th March 2019. If your answer is right, you could be one of the 3 lucky winners to grab Rs 500 or $10 worth Amazon voucher. Stay Tuned!

[@adeeba8423]

Option A

[@vartikarana5378]

Email: [e-mail] Ans: Hash encryption

[@SimplilearnOfficial]

Hi Adeeba, thanks for your reply! However, without your email id, we won't be able to give you the prize and neither would your answer be counted as valid. So comment your email id down below now to get back in the contest!

[@dpayneless]

I've watched several videos about blockchain but this one made me really understand how it works - thanks!

[@SimplilearnOfficial]

Glad it was helpful! Thank you for watching!

[@nextdecademinerssupport8242]

Thank me later

[@judyscott8652]

I watched several videos about blockchain but can you make me to understand about the blackchin

[@farrukhrafiq1102]

absolutely brilliant video. you have explained it in a way that makes it super easy to understand

[@SimplilearnOfficial]

Glad it was helpful!

[@muhammadmasterminders]

You're unbelievable! I'm subscribing immediately! Thanks for the enlightenment.

[@SimplilearnOfficial]

Welcome aboard!

[@Cindy-es4ob]

Finally! I've watched several videos and this is the only one I actually understand. Thank you so much

[@SimplilearnOfficial]

You're welcome!

[@testme5337]

Hit me up

[@Monica-70]

This topic gave me a headache and with your demonstration, I completely understand now, how this works. Thank you!

[@SimplilearnOfficial]

You're very welcome!

[@lizamathur3748]

I am completely new to the concept of blockchain.. and even bitcoin... I just thought that I won't be able to understand this.. but thanks to this video... this is the first video I watched for understanding what is blockchain and I have understood 100% of the information given in this video.. thanks to your channel. Keep it up.. 🙂

[@SimplilearnOfficial]

We are glad you found our video helpful. Like and share our video with your peers and also do not forget to subscribe to our channel for not missing video updates. We will be coming up with more such videos. Cheers!

[@sawsix1823]

Thanks for that explanation. I’m going to watch it again. I recently started investing in cryptocurrency and I was unfamiliar with all the terminology. Your brief explanation opened my eyes more to the future of blockchain technology.

[@SimplilearnOfficial]

Glad it was helpful! Thank you for watching!

[@jaredwii123]

How did it go?

[@jayxcrypto4898]

The knowledge I just acquired is a billion times more than the Amazon gift card. Keep the good work. Nice tips for entrepreneur and coders

[@SimplilearnOfficial]

Glad it was helpful!

[@testme5337]

Hit me up

[@DailyRicotine]

Thank you for breaking it down in a 7minute video and keeping it entertaining I didn’t fully understand it before !

[@SimplilearnOfficial]

Glad it was helpful!

[@NewHorizonsjules]

fantastic video, it explained EVERYTHING PERFECTLY. THANK YOU❤❤❤❤❤❤

[@SimplilearnOfficial]

Hello thank you for watching our video .We are glad that we could help you in your learning !

[@SimplilearnOfficial]

Blockchain is changing every industry. Be the first mover and kick-start you career with our latest Blockchain Career Guide. Comment below for your copy. Hi everyone, exactly two weeks ago, we conducted a quiz contest in our Blockchain video. The answer to the quiz is given below: Option: A (Public Ledger) The concept of public distributed ledger ensures that everyone on the blockchain network has a copy of the ledger. Thus, no single person can make changes in the ledger as everyone else will flag this as invalid. Hash Encryption is not the right answer as this is used to maintain users' anonymity and verify their transactions' authenticity. We are pleased to announce the 3 lucky winners who got the right answer for our quiz: 1. Dinesh 2. Noel Philip 3. Vaishnavi Congratulations to all the winners! They've won an Amazon voucher worth INR 500.

[@Bamir96]

So someone can alter the data, it would just be pointless? Correct me if I am wrong but this does not strictly answer what prevents alteration - if your answer relies on people flagging the now altered data....

[@SimplilearnOfficial]

@@Bamir96 In a way, yes, it depends on the people on the network. But as of now, the concern of the data being altered isn't one we need to worry about since it's never been done. More importantly, the process of altering the data within a block is one that requires a lot of processing power, and by the time this hypothetical process is fulfilled, a new block would have been added to the blockchain. This would render the whole alteration pointless.

[@FloresVi]

@@SimplilearnOfficial Furthermore, if by any chance one of the participants successfully alters the Public Ledger, then surely the majority of the participants (51%) will loose confident in the network and the investment value will sharply decline.

[@SimplilearnOfficial]

You are right. Thanks for your valuable input!

[@apollolwi5370]

Hello, I'd like to know what to write on the address 1 and 2 and what kind of postal code it shld be wen setting up Blockchain?

[@poojagupta3296]

This is an amazing explanation of blockchain, thank you so much Simplilearn! I have shared this with all my friends. Kudos to the effort you guys put in

[@SimplilearnOfficial]

Hi Pooja, thanks for the kind compliment. Do subscribe to our channel and get our new video updates directly into your email. If you have any questions related to these videos, you can post in the comments section, we will clear your queries/doubts.

[@candyfloss184]

Thank you 🙏

[@choudhurymaqsurat2035]

Just amazingly described ... I wonder how much beneficial this technology is going to be! Thanks for making me understanding the initial knowledge of Blockchain..

[@SimplilearnOfficial]

Our pleasure. Happy to help!

[@williecharles5098]

I appreciate this video This is exactly what I need as motivation.

[@SimplilearnOfficial]

Glad it was helpful!

[@eugenewilliams920]

Thanks for that simple, complete, understandable explanation. Will be sure to share it with my friends..

[@SimplilearnOfficial]

Glad it was helpful!

[@victorstephen9404]

I really need to know more about blockchain

[@aymaneelhoudaigui]

After many researches you are the one who explained the blockchain to me ! Thank you

[@SimplilearnOfficial]

Glad it was helpful!

[@JordanAlexochannel]

Finally starting to understand this a bit more. It has been a slow process, need to rewatch it again. Thanks!

[@SimplilearnOfficial]

Keep learning with us .Stay connected with our channel and team :) . Do subscribe the channel for more updates : )

[@BlessedOmid]

Thank you for your lucid video. Was really helpful for figuring out what blockchain is and how it works.

[@SimplilearnOfficial]

Glad it was helpful!

[@wytdo99]

Solid Video! I have to learn about blockchain for a class of mine and this couldn't have helped more! Thank you all so much!

[@SimplilearnOfficial]

Hello, thank you for appreciating our work. We are glad to have helped. Do check out our other tutorial videos and subscribe to us to stay connected. Cheers :)

[@InSearchOfForever]

Expensive dinner!

[@SimplilearnOfficial]

Hehe! True that!

[@aandm7772]

hahahahahha

[@billlyque3105]

Hahaha

[@jomniharuna7237]

Yes that's true

[@clarajoe4052]

Bitcoin is really profitable at this stage.

[@michaelmitchell155]

I was looking for a stripped down explanation of blockchain, and found it here. I get it at it's core. Thank you so much. You're right, that was one expensive meal.

[@SimplilearnOfficial]

Thank you for the appreciation. You can check our videos related to various technologies and subscribe to our channel to stay updated with all the trending technologies.

[@TheAexo]

Very clear explainations! Good.

[@SimplilearnOfficial]

Greetings! Thank you for your kind words. Spread the word by liking, sharing and subscribing to our channel! Cheers :). You can also explore our playlists for more Blockchain: kzbin.info/www/bejne/r6bFq32tZdqce5Y.

[@ajaysukhdial4379]

The best explanation for a novice that I've seen to date. Kudos to the creators if this video!

[@SimplilearnOfficial]

We are glad you found our video helpful, Ajay. Like and share our video with your peers and also do not forget to subscribe to our channel for not missing video updates. We will be coming up with more such videos. Cheers!

[@devpakhring8989]

I

[@BlackMambaInland]

Wow.. Such a simple way to understand blockchain. Kudos to this guy. ❤️

[@SimplilearnOfficial]

Glad you liked it

[@ajaxp7176]

Best explanation video so far. I just wished that there will be an in-depth discussion on the mining part. But all in all, this is great. Will definitely recommend this one to my friends. Thanks

[@SimplilearnOfficial]

Glad it was helpful!

[@stocksandblocks9661]

Our mission is to inform people about bitcoin. You are doing a great job!

[@SimplilearnOfficial]

WooHoo! We are so happy you love our videos. Please do keep checking back in. We put up new videos every week on all your favorite topics. Whenever you have the time, you must also check out our blog page @simplilearn.com and tell us what you think. Have a good day!

[@agraniabha6151]

This is the most informative video I've ever watched !

[@SimplilearnOfficial]

Thanks for watching our video and sharing your thoughts. Do subscribe to our channel and stay tuned for more. Cheers!

[@georgeevreniadis2377]

great description of blockchain not only for cryptocurrency but very very very interesting description for applications in the logistics and supply chain industry. Many thanks, you have given me so many great ideas....

[@SimplilearnOfficial]

Glad it was helpful!

[@HDsignatures]

Wow, this is such an eyeopener, where the world is heading to, i am really happy i came across your video, your explanation are soooo beginners and very understandable. Thank you

[@SimplilearnOfficial]

Glad it was helpful!

[@amolthikane]

Nice video, concept made easy to understand. Blockchain technology can be used wherever there is work or process flow to correctly identify source of issue.

[@SimplilearnOfficial]

Hey Amol, thank you for watching our video. We are glad that you liked our video. Do subscribe and stay connected with us. Cheers :)

[@abhiramp1067]

Like a station wise assembly in a manufacturing company. Every station has certain work they have to follow . Each station is regularly checked .

[@SimplilearnOfficial]

Nice example!

[@sufyanarif2577]

And they are rewarded bitcoins.

[@Onz.m]

You’re method of explanation is supreme thank you so much i watched others but yours nailed it !

[@115-mayurisadaphal5]

Thank you sir!.. Truly non technical student could also have a fast learning by your videos in simple form

[@SimplilearnOfficial]

You are most welcome

[@jabibgalt5551]

I get bitcoin now, but when I didn't, I wish I had this video to explain what bitcoin and the technology behind it (blockchain) are. Thank you so much.

[@SimplilearnOfficial]

Hey Jabib, thank you for appreciating our work. We are glad to have helped. Do check out our other tutorial videos and subscribe to us to stay connected. Cheers :)

[@Anna-sj4ut]

Clear and concise explanation; you're a great teacher! If I may suggest something, is have the answer(s) to your quiz in the details section?

[@SimplilearnOfficial]

The contest is over and winners have been announced in our community and also mentioned in the top comment of the video as well. Thanks for your participation. Explanation: Answer: A (Public Distributed Ledger) The concept of public distributed ledger ensures that everyone on the Blockchain network has a copy of the ledger. Thus, no single person can make changes in the ledger as everyone else will flag this as invalid.

[@shubobtv]

Just came across your channel. Exactly what i wanted. Simple to the point and clear. Thank you so much!

[@welexteamblockchain661]

Never seen an explanation this detailed, nice work you doing here your videos have really helped me

[@SimplilearnOfficial]

Awesome, thank you!

[@celiwemalindi]

Thank you for the explanation. It is very easy to understand.

[@SimplilearnOfficial]

You are welcome! Thanks for watching!

[@SayzChannel]

Now I understand what is Blockchain

[@SimplilearnOfficial]

Great to hear that Simplilearn is helping you learn better .

[@malaychakrabortty5079]

Thanks for the video, it's informative & concise...Answer is option-A (Public Distributed Ledger)

[@SimplilearnOfficial]

"Hi, you got the right answer. Kudos. The contest is over and winners have been announced in our community and also mentioned in the top comment of the video as well. Thanks for your participation. Explanation: Answer: A (Public Distributed Ledger) The concept of public distributed ledger ensures that everyone on the Blockchain network has a copy of the ledger. Thus, no single person can make changes in the ledger as everyone else will flag this as invalid. "

[@namatullahyousafi]

The answer to the question is option A. Thank you for your simple explanation about Blockchain. İ am a Math and İT teacher. İ am sharing your vid with my students as well.

[@SimplilearnOfficial]

"Hi, you got the right answer. Kudos. The contest is over and winners have been announced in our community and also mentioned in the top comment of the video as well. Thanks for your participation. Explanation: Answer: A (Public Distributed Ledger) The concept of public distributed ledger ensures that everyone on the Blockchain network has a copy of the ledger. Thus, no single person can make changes in the ledger as everyone else will flag this as invalid. "

[@ittoakimbo]

The answer is A, good explanation, I think I’m starting to get what blockchain is, many thanks

[@SimplilearnOfficial]

"Hi, you got the right answer. Kudos. The contest is over and winners have been announced in our community and also mentioned in the top comment of the video as well. Thanks for your participation. Explanation: Answer: A (Public Distributed Ledger) The concept of public distributed ledger ensures that everyone on the Blockchain network has a copy of the ledger. Thus, no single person can make changes in the ledger as everyone else will flag this as invalid. "

[@ittoakimbo]

@@SimplilearnOfficial I know, im just interested and somewhat intrigued with the technology, thanks for the great explanation

[@babuOOabc]

miners part i didnt understand pls explain how does miner validate the criptografy. and why this is specially need in cryto currect crypto does all cryptografy need so much processing power? bit coin transaction will be slow to?

[@SimplilearnOfficial]

Thanks for watching our video and sharing your thoughts. Do subscribe to our channel and stay tuned for more. Cheers!

[@mdanarul9629]

This is an amazing explanation of blockchain, thank you so much Simplilearn! I have shared this with all my friends.

[@SimplilearnOfficial]

Much appreciated!

[@chaitanyakrishna707]

This is the best Blockchain explanation video on KZbin. This cleared all my doubts. Thank you.

[@SimplilearnOfficial]

Glad it was helpful!

[@sara104015]

Hi, I have a test on business disruptive technology tomorrow and I would like to know about P2P network in an easy way and how to illustrate or draw a diagram for an example for blockchain.

[@SimplilearnOfficial]

Hi Sara, you can refer to our Blockchain 101 video where we have used an example and explained the P2P network in a simple way: kzbin.info/www/bejne/jXSaamd_rLSogpI.

[@wbRosario]

2 btc each for dinner nowadays 😂

[@nailsthatstunt3665]

I almost gave up on my curiosity of blockchain glad I watched your video. Now I get it. 😊 Thanks.

[@SimplilearnOfficial]

Glad it was helpful!

[@dee_giah001]

This video is really comprehensive and the best video that really explains blockchain and am able to understand the concept behind it, thumbs up for a great job.

[@SimplilearnOfficial]

Glad it was helpful!

[@Nftss-ep2kr]

Looking at this I would say blockchain is definitely the future

[@SimplilearnOfficial]

True that!

[@SweetPeachannel]

yesss

[@yusrashahina3444]

You guys have elaborated it very nicely keep adding such content to your channel. Looking forward for more such videos P. S:answer is hashing algorithm

[@SimplilearnOfficial]

Sure 😊

[@meenakshiraman25]

What an explanation!! Clearly understood.Thank you sir✨

[@SimplilearnOfficial]

Most welcome!

[@MiledRizk]

Thanks. Excellent, clear, and simple explanation for people who are not into crypto, and just want a general knowledge about the subject.

[@swapnilchauhan966]

Amazing explanation... Really Loved It. Thank You!

[@SimplilearnOfficial]

Hey Swapnil, thank you for appreciating our work. We are glad to have helped. Do check out our other tutorial videos and subscribe to us to stay connected. Cheers :)

[@nitsujanimations7212]

The concept of public distributed ledger ensures that everyone on the Blockchain network has a copy of the ledger. Thus, no single person can make changes in the ledger as everyone else will flag this as invalid. but what if all of the people alter the ledger ? is that possible?

[@SimplilearnOfficial]

"Hi, you got the right answer. Kudos. The contest is over and winners have been announced in our community and also mentioned in the top comment of the video as well. Thanks for your participation. Explanation: Answer: A (Public Distributed Ledger) The concept of public distributed ledger ensures that everyone on the Blockchain network has a copy of the ledger. Thus, no single person can make changes in the ledger as everyone else will flag this as invalid. "

[@harshitbhangre]

Thank you, the session was amazing 🤩

[@stevehenry9826]

Vary interesting. I was talking to one of my freinds who is up alot on the tech of the future. I was asking him about Bitcoins and that's when he also mention Blockchain but he had to get back to work so he did not have time to explain. Your video cover it vary well. Excellent video!

[@SimplilearnOfficial]

Thanks for watching our video and sharing your thoughts. Do subscribe to our channel and stay tuned for more. Cheers!

[@pussycla]

Best blockchain explanation on KZbin. Thank you

[@SimplilearnOfficial]

Glad it was helpful!

[@user-cq4jj7rn8q]

See this is great bc it gives me an initial scenario versus just starting into a blockchain definition. Thank you!!

[@SimplilearnOfficial]

Thanks for watching our video and sharing your thoughts. Do subscribe to our channel and stay tuned for more. Cheers!

[@TG_De_Mastermind]

Basing Encrypted, and I want to say thank you for the explanation of Blockchain. I do understand it better now

[@vijaym1906]

You make complex topics sound easy. I've subscribed your channel on just watching 2 videos. Thanks a ton. Appreciate if you can make a video on Ripple

[@SimplilearnOfficial]

Thanks for the sub!

[@TheLally7]

Question, so what happens in the time it takes for someone to validate your transaction, ie, the miner? Are we talking few seconds or hours?

[@SimplilearnOfficial]

Hi, Simplilearn provides online training across the world. We would be happy to help you regarding this. Please visit us at www.simplilearn.com and drop us a query and we will get back to you! Thanks!

[@Tonchbonoan]

Hi! Thanks for the video. I think the answer isn't public distributed ledger, but instead it is proof of work or proof of stake depending on the type of coin/network being used. In a public distributed ledger, the data can actually be altered because of the rule of majority. So if a majority of the group of users decide to be fraudulent and make a even longer list of blocks in the blockchain, then the network will consider that to be correct as it deems that whetever is longer is correct. In this scenario, they can make changes to the data in the blocks. If the question was "what is the concept of blockchain that ensures data cannot be altered by any SINGLE user within the network, then the answer could be public distributed ledger since 1 persons work will not outwork the majority of the people who are validating blocks using proof of work/stake. Id say the closest answer is proof of work/stake as it is a way of validating blocks in the block chain. Once a block is validated, then it becomes permanent. Would you agree? Thanks!

[@SimplilearnOfficial]

"Hi, we are sorry to say that you got the wrong answer but in any case, we are glad seeing your participation in the contest. The correct answer is Answer: A(Public Distributed Ledger) The concept of public distributed ledger ensures that everyone on the Blockchain network has a copy of the ledger. Thus, no single person can make changes in the ledger as everyone else will flag this as invalid. "

[@Tonchbonoan]

@@SimplilearnOfficial hi thanks for the response! Yes, no SINGLE person can make a difference. But the question stated that users cannot make a difference which is wrong cause they actually can if they gain majority of the users. If you put the words no single user can, then that would be correct. But that is not the case in the question so the closest answer is proof of work.

[@kyawphyolwin4137]

Thank you. This video explains a lot and it's very easy to understand.

[@SimplilearnOfficial]

Glad it was helpful!

[@testme5337]

Hit me up

[@praveenravi2687]

Hi Team, Thanks for u r valuable time and effort for us. Ans: Hash encryption.

[@SimplilearnOfficial]

"Hi, we are sorry to say that you got the wrong answer but in any case, we are glad seeing your participation in the contest. The correct answer is Answer: A(Public Distributed Ledger) The concept of public distributed ledger ensures that everyone on the Blockchain network has a copy of the ledger. Thus, no single person can make changes in the ledger as everyone else will flag this as invalid. "

[@reenathakur3073]

It's amazing...... Blockchain is very safe for transitions

[@SimplilearnOfficial]

True that!

[@69k_gold]

Our uni recommends this channel as an official source of self-education

[@SimplilearnOfficial]

Keep learning with us .Stay connected with our channel and team :) . Do subscribe the channel for more updates : )

[@jesusyrosnowin7333]

i went through many sites,vds but only you solved my answers . GREAT APPLAUSE TO U MAN :):):):):):)

[@SimplilearnOfficial]

Hi, Simplilearn provides online training across the world. We would be happy to help you regarding this. Please visit us at www.simplilearn.com and drop us a query and we will get back to you! Thanks!

[@Khannauman3198]

I have a doubt regarding the block chain, that what is the relation between python and blockchain and if we use python to create a blockchain then which type of blockchain python create ?

[@behroozsayah1679]

The best answer would be A. Because everyone know about the numbers and you can realized and find out the problem.

[@SimplilearnOfficial]

Hi Behrooz, thanks for your reply! However, without your email id, we won't be able to give you the prize and neither would your answer be counted as valid. So comment your email id down below now to get back in the contest!

[@nicolasleo5572]

Very interesting content, i would also be glad if anyone here can explain a few things for me, this is 2022 and I believe it's my time to invest and shine for a better future

[@SimplilearnOfficial]

Thanks for watching our video and sharing your thoughts. Do subscribe to our channel and stay tuned for more. Cheers!

[@anshul9680]

I have been searching for days an easy explanation of Blockchain technology. Thankyou

[@SimplilearnOfficial]

Hello thank you for watching our video .We are glad that we could help you in your learning !

[@sheetaluniyal8605]

Finally, I got this ! You made this easy thank you.

[@SimplilearnOfficial]

Glad it helped!

[@meenakshijha9281]

Fruitful video with time saving and better understanding! 🌺

[@SimplilearnOfficial]

Glad it was helpful!

[@blackwalls8126]

No, I have never wondered if there's an easier way to complete transactions. Swiping my debit card was never difficult. I feel like the most difficult part of a money transaction is actually getting the person to pay you.

[@SimplilearnOfficial]

You got a point but blockchain is all about secure transaction and decentralization.

[@werd2182]

I still can't figure out what "problems" this is actually solving (other than putting everyone further into slavery). So now you have to work for the money you're already spending transaction by transaction? Review a ledger and validate each transaction? Sounds more burdensome than anything.

[@mgchandrakanth]

Immense thanks for this explanation. Would you please indicate why 1. there is an upper limit for each cryptocurrency, 2. why the cryptocurrency is so expensive that common man cannot afford, 3. who takes responsibility of retrieving a wrong transaction, ie currency reaches a person to whom it was not intended to, by mistake in entry, 4. how visually impaired, physically challenged people can use this technology.

[@SimplilearnOfficial]

Thanks for watching our video and sharing your thoughts. Do subscribe to our channel and stay tuned for more. Cheers!

[@sarfarazsurkhi557]

I have a question Blockchain developers should know the coding or no ? If they should know the coding, which coding is required ?

[@e4s7]

I'm quite new into the Blockchain technology, and I have a question on the part where you say "public distributed ledger", where all Phil's friends have a copy of the ledger and know how much bitcoin Phil has left (1 bitcoin left at minute 2:56). In this case, does it mean people who have a common copy of your ledger will always know how much "money" (bitcoin for example) you have in your account? Apologies if it is a dumb question, kinda new here 😅

[@aadiluddin]

The ledger (blocks) are encrypted, so no one can see how much Phil has in his account.

[@SimplilearnOfficial]

They would, but they would also have to know Phil's wallet address. Without out, they wouldn't know how much money he has. Thank you for watching!

[@kunaljr2510]

The answer to the question is A. Also, for an example, using the blockchain by mentioning the quality of a particular goods or service throughout the supply chain would help us immediately identify the origin of defect. As each part of the supply chain would have the knowledge of the quality of that particular goods or service at each stage.

[@SimplilearnOfficial]

Hi, you've got the correct answer! Option A! The concept of public distributed ledger ensures that everyone on the blockchain network has a copy of the ledger. Thus, no single person can make changes in the ledger as everyone else will flag this as invalid. However, the competition period is now over. Thanks for participating and watching!

[@jollynery]

@@SimplilearnOfficial can blockchain be used in education?

[@AndrewSmith00000007]

I don't understand how that would work in real world unless each step in the supply chain does quality check which sounds like a lot of overhead. Besides, if product is found to be damaged in one of those steps while performing quality check, what's the point of letting it shipped all the way to the store let alone put it on the store shelf?

[@ramyernesta1125]

I just heard about block chain today and the explanation provided i the video is very helpful. the answer to the quiz is A..cheers

[@SimplilearnOfficial]

Glad it was helpful!

[@junaidsiddiquemusic]

Amazing explanation! I just joined the free blockchain course

[@SimplilearnOfficial]

Awesome! Thank you!

[@iwin4985]

So what happens when the last bitcoin is issued to a miner for "proof of work". How will they get paid after that? Will they have to keep mining for free?

[@BueSoftVideos]

They'll be mining for a fee? A percentage of the transaction amount?

[@SimplilearnOfficial]

They'll mine for a fee from the community. The community would still own all the bitcoins produced until that moment. Thank you for watching!

[@SandeshMotoVlogs]

Omg even a new born baby would understand this!!

[@milanaagola3841]

Answer is ✅ A. Public Distributed Ledger Ans. Of 2nd Que. ✅ Blockchain can be used in Online Voting System where once user voted, he/she won't be able to change. Thanks for this informative video... 🙏

[@SimplilearnOfficial]

"Hi, you got the right answer. Kudos. The contest is over and winners have been announced in our community and also mentioned in the top comment of the video as well. Thanks for your participation. Explanation: Answer: A (Public Distributed Ledger) The concept of public distributed ledger ensures that everyone on the Blockchain network has a copy of the ledger. Thus, no single person can make changes in the ledger as everyone else will flag this as invalid. "

[@aroopmukherjee951]

Blockchain can be used in production areas like steel and power plants. It will help them in development and transition of built in quality product

[@SimplilearnOfficial]

Thanks for watching our video and sharing your thoughts. Do subscribe to our channel and stay tuned for more. Cheers!

[@karthik6278]

Public distributed ledger.. And thank for this video ☺

[@SimplilearnOfficial]

"Hi, you got the right answer. Kudos. The contest is over and winners have been announced in our community and also mentioned in the top comment of the video as well. Thanks for your participation. Explanation: Answer: A (Public Distributed Ledger) The concept of public distributed ledger ensures that everyone on the Blockchain network has a copy of the ledger. Thus, no single person can make changes in the ledger as everyone else will flag this as invalid. "

[@ritc1839]

Surely the answer is public Distributed Ledger.

[@562prabhassatti2]

Public distributed ledger

[@mehdikaoukab2920]

7minutes but it resumed hours of studies... thank you

[@SimplilearnOfficial]

Keep learning with us .Stay connected with our channel and team :) . Do subscribe the channel for more updates : )

[@oliverqueen3545]

Just now saw the video man I really thought PUBLIC LEDGER was the answer but I don't know so I was scrolling the comments and saw the right answer Thank you for the video its one of the best explanation video that I ever saw about Block chain Keep Posting...

[@SimplilearnOfficial]

We are glad you found our video helpful. Like and share our video with your peers and also do not forget to subscribe to our channel for not missing video updates. We will be coming up with more such videos. Cheers!

[@ingokramer4415]

Success is about focusing Your energy on what creates results and using what you already know

[@SimplilearnOfficial]

Thanks for watching our video and sharing your thoughts. Do subscribe to our channel and stay tuned for more. Cheers!

[@shabarishgudisi5456]

I saw your video today and I am sad as I couldn't participate in the quiz ☹️

[@SimplilearnOfficial]

Hey Shabarish, don't worry! We have more quizzes coming soon! Stay tuned by subscribing to our channel! :)

[@shabarishgudisi5456]

@@SimplilearnOfficial i have subscribed on the 1st day i saw this cryptocurrency video of yours

[@munimmorshed5742]

D; hash encryption

[@SimplilearnOfficial]

Hi Munim, thanks for your reply! However, without your email id, we won't be able to give you the prize and neither would your answer be counted as valid. So comment your email id down below now to get back in the contest!

[@omisanyaabdulfattah6638]

Answer is hash encryption I love this video and it really give me a good understanding on blockchain

[@SimplilearnOfficial]

"Hi, we are sorry to say that you got the wrong answer but in any case, we are glad seeing your participation in the contest. The correct answer is Answer: A(Public Distributed Ledger) The concept of public distributed ledger ensures that everyone on the Blockchain network has a copy of the ledger. Thus, no single person can make changes in the ledger as everyone else will flag this as invalid. "

[@sherifsamir6888]

Thanks, before watching your video blockchain technology seemed to be a hard topic, now I understand the main principles of Blockchain

[@SimplilearnOfficial]

Thank you for choosing us as your learning partner. We are thrilled to hear that you enjoyed your experience with us! If you are looking to expand your knowledge further, we invite you to explore our other courses in the description box.

[@ProximisD]

Person A is trying to buy a TV on an E-Commerce, he ordered the thing from Seller B, Seller B then received the fund, sending the product to the E-Commerce, and then the E-Commerce go through the product making sure is not a hazard material, sends to the buyer. The buyer then receives it found out his TV found out the TV is shattered during shipping. Using BlockChain this can be solved to make sure each stage the product is in whatever condition to make sure the product is being handled to the customer in working condition.

[@SimplilearnOfficial]

Thanks for explaining the concept of Blockchain using a simple example. We appreciate your effort and knowledge. Thanks.