Blockchain for dummies - Part 1 - Introduction to the very basics

[@jacksonwhitfield8746]

I’m dying at that bottom right camera where you’re just standing there 😂😂👏🏻

[@investorsden]

Lmao… it was weird.

[@octavianskies]

Watched two more videos before this one in order to understand blockchain and I was still very uncleared after watching those. That’s until I watched this one!! Great way of illustrating and explaining, definitely feeling like I got my mind around it know! Thanks!

[@jonathanscherer3677]

Nicely done. I'm an oldster who knows nothing about blockchains or crypto currency. I consider myself a reasonably intelligent person, but previous explanations I've read or seen on this subject lose me quickly. Finally here is something that gives me at least a glimmer of the beginnings of understanding.

[@damez2k8]

The example with the boxes was great, thank you.

[@DavidParkinson]

I tried to watch but the editing is the weirdest thing I have ever seen. Stood in a badly framed meeting room. A pointless random high camera and stood still, blinking, in front of a reception for 7 minutes. Maybe I'll try again late with the picture off!

[@jamespickering1963]

This video single handedly gave me epilepsy

[@MMABeijing]

what a negative prick you are. The analogy in this video was EXCELLENT, the delivery was fine, sure he played with the editing (why not try new things?) and you did not like this aspect that's ok, but there was substance and you did not catch any of it.

[@ernatrambulo]

@@MMABeijing i don't really know if the editing was a joke that he's playing. If it is dood is very funny. If not..... Hahahahahah

[@jcardosa02]

James Pickering LMFAOOOO

[@e2e330]

The information is protected in a blockchain, but how can we ensure that information that is getting stored in blockchain is correct.

[@lukecipo]

Miners appprove transactions

[@Minecraftmom86]

I am fascinated by Blockchain! I appreciate that there are options for how people can exchange money. Banks make so much money off of us because they know we have no other options.

[@mayacote4368]

Mrs Audrey is legit and her method works like magic I keep on earning every single week with her new strategy

[@garyscott3754]

She has been handling my account for years now

[@garyscott3754]

I think I'm blessed because if not I wouldn't have met someone who is as spectacular as expert Mrs Audrey

[@chinwendulizzy451]

@@garyscott3754 3 wow I'm just shock someone mentioned and recommended expert Mrs Audrey I thought I'm the only one trading with her

[@chinwendulizzy451]

☑️💯

[@paulifeanyiezenwa5914]

@@chinwendulizzy451 you don't need to be shock because I'm also a huge beneficiary of expert Mrs Audrey

[@thomasbetom7435]

Super video, I loved how you explained it

[@gennadiouzounian]

thanks for the video.i am beginning to get the glimpse of the whole thing :)

[@MMABeijing]

excellent video, great analogy

[@vickierubinson3368]

Yeah! No intermediary ! My third party seller for my book ripped readers off by over charging me like $45 and I couldn't get these middlemen to lower the price of my book so no one would buy it. I was furious and decided not to use that publishing firm ever again which was located in the Phillipines by the way. This blockchain sounds wonderful. No more third party con artists to interfere with my books!!! Great video from a former Luddite.

[@danyn.a.350]

Once again congrats JL. On your way to becoming an international expert in blockchain. Can't wait for the next video

[@pamelazook8375]

Dany N. A. Hey

[@IvCastilla]

Thank you for your nice explanation

[@jeannavines2712]

Great project Gig9. I hope this project will be successful...

[@rajeshbhandari8413]

Very good and informative video. Thanks for sharing!!

[@deweylasv]

Who does the authentication of the blockchains? How are blockchains authentications checked? Must we not then rely on the authenticity of the authentication service? Mustn't we learn how to authenticate for ourselves? What are the fears & myths of blockchain technology?

[@cherdiemae]

this article answers all of that qz.com/154877/by-reading-this-page-you-are-mining-bitcoins/

[@gregoryrigsby7994]

Cherdie Mae n

[@marcowiederaenders7354]

Richard Dewey blockchain is open source. Anyone can authenticate anything on the ledger. Thats why its so awesome. nothing can be falsified or made up.

[@christerjohanzzon]

So, how does one use Blockchain in the day to day life? Is there any apps ready for use with it? For example, how would I go about sending a contract in pdf on to the blockchain? Or do I have it wrong?

[@rongants6082]

Blockchain will run in the background. It will control everything. You will own nothing. And you will be happy. Get used to it.

[@pf1950]

-I did a $2k transfer from one of my accounts not using my exodus wallet and apparently had some wrong pref ex 3LL? the receiver wouldn't or couldn't accept it It seems to have gone to them twice and still not accepted. After a certain amount of bad attempts will this money come back to me?? any suggestions what I can do about this??

[@joanwilkerson6338]

Excellent presentation! Elegant in its simplicity

[@kadidibwa968]

This is by far the best explanation of blockchain on the internet...

[@AverieJackson-y8u]

Great content, as always! I need some advice: My OKX wallet holds some USDT, and I have the seed phrase. (air carpet target dish off jeans toilet sweet piano spoil fruit essay). Could you explain how to move them to Binance?

[@mendygags2909]

Was researching on some interesting ICOs and GIG9 has my pick of current ICOs to look out for. This is worth investing in!

[@sidarthur8706]

this really is for dummies, exactly what i need. what do you mean when you say that every computer is a node in the network? do you mean that it is by definition, and it all runs through my computer, or do you mean that i potentially have access to blockchains provided i have the right software, like accessing the web through a browser?

[@paritoshmoghe8668]

Hi very informative , One doubt i have , when one block after other blocks in a decentralized way .Doesn't it cause dirty read/ write problem like two people at the same time add two different blocks after block 3 , then what would be the final state of the block chain ?? This is the reason Banks databases locks the transaction .

[@jeanlucverhelst]

Not really, what you are referring to are " temporary forks" (for the lack of a better word - not to be confused with hard forks). In your example, you will have a "temporary fork" at the level of block number 4. The system is made is such a way that these "small forks" disappear as the next block comes along (block 5). Stay tuned, we will get there.

[@ReedoAce]

Thanks. So every time there is a corrupt block is there a clone of an original created again to keep the ratio?

[@jeanlucverhelst]

Every time a block is corrupt (i.e. it does not satisfy one of the rules), it is refused by the different nodes.

[@putci76]

if i have a block chain installed in my computer, do i get any fee for any transaction which goes through it and how much would that be ? is it sufficient to cover up my electricity bills ?

[@jeanlucverhelst]

Only if you are a "miner" (meaning you create new blocks). We will explain this later. If you only download blockchains from other people (you do no create new blocks), you are not compensated for storing the blockchain.

[@jessicaallen4950]

Good stuff Jean this helped me understand in a simple way...i will definately share this. thanks

[@ringring3976]

Nice video ! block chain technology is taking over the world bit by bit. I want to know I worked in IT as a System Administrator where I looked after servers and back-end network infrastructure - For a person like in the future what could be good job oppurtunities? What could a traditional system administrator who looked after the servers/networks of corperations could do that is equilent in the blockchain technology? A farm administrator?

[@wildpapy]

Simply very well put together... I appreciate it

[@gyogyibindorffer8724]

How do you want to categorize information of the same kind? How can I filtrate information and come the right one I need? With the help of an index, sub index or like Google?

[@premsharma4298]

Nice and easy to understand. One question...why do we need to create separate BLOCKs? We can have multiple transactions in a single BLOCK? Isn't it? Please let me know with an example..... Thanks

[@jeanlucverhelst]

Sure! It is possible to include multiple transactions into one block. You'll find more info on the way transactions are stored in the next video: kzbin.info/www/bejne/qJexqY1nZc2ao9k If you go to blockchain.info, you'll even be able to navigate through the blocks and see all transactions in there. Hope this helps :-)

[@jcardosa02]

thank you for this video. it helped me a lot

[@zhenfu1101]

Great video. Thanks, I linked it to my Facebook page.

[@anthonykeke5095]

Sounds good. But what about returns? If the seller refused to accept a return while currently he/she must, what blockchain can do about it? You still need a central government, right?

[@k86305]

One of the nice explanation of BlockChain technology :: Great work!!!

[@DanielaSantos-dv4fz]

So can we say that this is a network of servers and not a network of for example 2 servers that have all the data and then the clients that request that info but don't really have it there ?

[@TheSundarkv]

Very good and simple explanation

[@BM-uf4pp]

Came for blockchain and wasn't disappointed, left wondering why he was just standing there in one of the video shots in the beginning haha.

[@vickierubinson3368]

Great!! Now they can't claim credit for my book. Can't steal my copyright on my book either.

[@wetpatch5096]

Would it be possible to creat a denial of service by creating a multitude of blockchains and overwhelming all the contributing servers. What effect would all these complimentary blockchains have on internet traffic. Wouldn't the internet be in danger of being overloaded.

[@JeffBrown518]

very helpful, very well done

[@livinglong8258]

educational token (LEDU coin) has been added to coinmarket cap and they are paying project creators for their work

[@ElderScrolls7]

Just post your studies as working papers before you share the draft with others or present in conferences. Kinda like a shared ledger :)

[@michal4456]

Thank you, great explanation :)

[@donnakeeley7924]

9

[@bisikleta1015]

What's with the 2nd camera?

[@PENDANTturnips]

Great explanation, loved the boxes and article analogy!

[@etoumbiwillrudy2001]

bitclubnetwork.com/willrudy/enroll_new.html follow this link and become member of one of the top mining companies in the Blockchain

[@cryptobusy1183]

You can use the difference in market prices to increase your example. Buy bitcoin on a lowpriced exchange

[@cryptobusy1183]

For more info [phone]

[@GraveDiggerIII]

let me get this straight. if someone were to, say, upload information or perform a transaction and thereby add a block to the chain. the blockchain is then is then updated on every node's "copy", thus keeping a record. if it is that easy for one person on the network to initiate a change in the whole blockchain, then why should it be so difficult for one person to manipulate the network? I don't understand the security appeal of a blockchain. To use your example with the boxes, if someone takes out block number 2, what's to stop them from updating that information on all copies of the network to make this change seem legitimate?

[@nikunjpatel4979]

GraveDiggerIII ...Though I am not expert , Let me try anwser it based my acquired knowledge from internet In blockchain , End Consumer is just intiating a message of transaction ( for bitcoin example with details like amount , from address , To address ) . Then blockchain "miner" (one of peer node of blockchain ) validates authenticity of transaction before adding a block ( i.e. various business rule like.. enough balance to intiate transfer ? ) . Appearntly each peer node performs this validation to replicate/add new block to their copy . So one dishonest "miner" can't effect transaction state on own. Regarding removing block example ..it is misleading , as you can not remove block from blockchain.

[@TomlynAdvisors]

My 2c . . . Steps, not leaps . . . Instructor needs to redevelop the lesson and make it in context to how people today make transactions (include receipts to tell the whole story). Then he needs to show how to make that same transaction using an example "block chain provider" such as BITCOIN or another provider. If there are several providers, the instructor may want to develop a chart/matrix showing the features / benefits (pros - cons) of each provider.

[@mohammedviso2269]

Thanks a lot for this great explanation

[@fernandoschmidt8]

Helpful, thanks Jean.

[@jacob6426]

Thanks for this video, you have made a dummy like me understand blockchain a little better. One thing I don't understand is where the transaction information of the blockchain is stored? Is it stored on everyone's computer? Since it's decentralized there is not server with all the information.

[@abdulrehmankazi7107]

The information/data is stored on everyone's local machine. Actually when you join blockchain network as a full client you download the complete copy of transactions from someone on the network who already has this, it woks similar to BitTorrent Peer2Peer network.

[@alookachaloo]

@abdul isnt it going to create storage issue at some point of time .....may be when it grows to the size of petabytes ? (I am a dummy too)

[@abdulrehmankazi7107]

ankit you are absolutely write today this is the serious challenge with blockchain storage. Hence it isn't suitable to store every freaking thing on blockchain. Solutions have been sough for this storage issue and still research is being done.

[@NomanNoman-vu6cm]

wow ! thank you for clearing the doubt.

[@jirgis13]

Abdul Rehman Kazi f

[@jasonnicholasschwarz7788]

Ok, that's blockchain explained. But at what point in the process and how does information convert to (monetary) value (like Bitcoin e.a.)

[@SimplySage854]

Thanks for simplifying

[@pivo6499]

If that guy stores a document in a blockchain database, do others see the document or only the hash value?

[@Tamara73]

Well explained! Thanks!

[@obi-wankenobi9337]

Yep you are right, It's like that you have explained to the Bilal.

[@yashrajgarments807]

nice video.. Where is the 2nd part of the video??

[@jeanlucverhelst]

I hope to have more time begin 2018 to work on more educative videos taking you through all the ins and outs of blockchain one by one. I have spent the last months writing a 300-page book in collaboration with the most prominent people in the Bitcoin and blockchain space (on top of my full-time job). In the book, I structure and explain everything in a super easy way. Concept by concept. Now that the book is finished, I am busy with setting up the logistics, accounting and a lot of public speaking. I will soon have more time for more video material. Stay tuned! If you feel like reading, have a look at www.bitcoinblockchainbook.com. Thanks to everyone for the patience.

[@rooky011]

Thank you Great explanation !

[@nz-nz]

How is this “accessed” …… What happens if the grid goes down??

[@Shareef2610]

Thank you great explanation

[@davidjacobs3962]

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Been trading with his strategy and techniques and it has brought me great success. i've never seen a strategy as consistent as his. Great stuff

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I'm now a full time trader thanks to Mr Jacobs. I've had to quit my job since i was integrated into this easy new way of making money.

[@diddy1515]

I’m a beginner and I’d love to start off on a winning note. How do I connect with him?

[@davidjacobs3962]

@Diddy I get in touch with him at

[@lennychandler2457]

I am CACKLING at how you’re not moving in the bottom right square lmao!

[@ralevdotcom]

Hey Jean-Luc, thanks for filming, but where's Part 2? :))

[@jeanlucverhelst]

Stay tuned! We are about to launch the book. We will pick up with the KZbin channel after the launch - expect the next one before the end of the year!

[@DarkSide-vf4wb]

Hi Jean, i have a question. You took up the example of an article being stored on a block. Now assuming each article occupies 2 MBs of space and 1000s of articles are posted everyday that are added to 1000s of blocks every day adding thousands of MBs every single day... i mean how will that work out on every computer? If i don't have enough space on me PC? or i run out memory? As all of them blocks have to be stored on everybody's PC who is connected to the BC network init?

[@jeanlucverhelst]

Hi Dark Side, You are 100% correct. Actually, you will not store the full article. You will store a hash of the article (consider it a fingerprint) that proves that you had the article at that point in time. The purpose of this video is to make things simple for everyone. I will work on more advanced videos where we will discuss all stuff more into details (e.g. introducing hashing in detail, explain what goes in the blocks and what not, how blocks are really linked to the previous ones, etc.)

[@DarkSide-vf4wb]

Hey Jean, thanks man , sounds good :)

[@hgt2008]

Why does it take 30 days for a transaction?

[@kaderm3072]

thank you for the video

[@davefulford8890]

Superb! Thank you.....:)

[@KSTsonic]

Enjoyable video.

[@Zonker66]

Just watched a cartoon regarding blockchains that didn't dumb it down this much. Visual aids can also be a distraction... and were in this case.

[@aashismoktan9366]

OMG you explain it too well

[@SyedShamsuddoha]

Wow, nice as!!!

[@48chickenlover]

the receipt is on loose side for explaining

[@junaidahmed9704]

so what can we do if you are working at deloitte, will you always work there ? or they sponsored you? stop marketing

[@sundaykarisai7401]

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[@sonnybangcoyo2828]

Unsa manka dong bungi? Tka lang manka yawyaw

[@mineralt]

Nice video

[@Mourlitsa]

I'm so imprested by the way you're transfering the meaning to us. I think I'm in love!

[@issacdavis3767]

Thanks friend

[@michellemcdonald4770]

Exercises for sacorilliack joint pain

[@michellemcdonald4770]

Sacorilliackpain

[@i_youtube_]

Shall I watch you from the lower right to understand you easily?

[@kazardomain]

almost 5 years later I'm only aware about this..Pi Networks brings me here...

[@karantanna6925]

Thank you

[@thetruereality2]

You are talking about storing literally every input every person in the network has added in every computer there is.....

[@bindu.r]

Hi Jean Nice Bro

[@etoumbiwillrudy2001]

bitclubnetwork.com/willrudy/enroll_new.html Follow this link and become member of one of the top company listed in the Blockchain. bitclub Network

[@C4d009]

HaHaHA!!thats a hilarious video!! WTF with the split screen dummy segment?

[@HerrPorinski]

that´s all nonesence in my opinion. who will own the blockchain technology? of course not a private person. it will not be installed for free. banks will use the security aspect in order to advertise their blockchain apps. means: people have to pay for it as it always was. actually they will just earn more then before as long the whole bank industries (worldwide) accept its high security. they will use it, they need less stuff to pay, they have increasing costs, they will rean more.

[@jeanlucverhelst]

The blockchain is always shared amongst its participants. There are two possibilities: 1) Everybody can be a participant - these blockchains are called "public" blockchains. Example include: Bitcoin, Ethereum, etc. You can use them to make your transactions without the need of banks. In this case, no one owns the blockchain. 2) Participants can be a selected group of players (e.g. banks) - these blockchains are called "permissioned" blockchains (you need a permission to access the blockchain). In this case, the blockchain is owned by the players of the consortium but, assuming the rules are well established, no single player controls the blockchain. There is no evidence you will have to pay more because banks are using blockchains, in the contrary, banks should benefit from efficiency gains and customers should benefit from a better customer experience (more transparency on the process of transactions and faster movement of money). While permissioned blockchains can offer a selected group of players advantages (e.g. more transactions), public blockchains can be used by everyone. If you don't want to use the blockchain application build by the banks, feel free to use a similar application on a public blockchain :)

[@barryfromeastenders7032]

jeanlucverhelst please I’m a simple dummy I still don’t get it Here goes So why do you need a blockchain in the first place ? Why is it needed? Isn’t it basically the dark net ? I still don’t get the block block block chain ? If I did understand it I’d be rich now I was looking into bitcoin in 2012 but learnt on a demo acc I made $500,000 gbp in 6 months but it was fake money as for bitcoin I still don’t get what your saying

[@theFlashKing21]

To answer your questions Barry: The blockchain is, at its most basic, a database. A new type of database, but a database. The need for the blockchain is the need for trust. Currently there are several systems in place whose purpose is to establish trust between two parties. For example if I wanted to buy something from you, we would typically employ some method to get money from me to you. We do that so you can trust you get your money, and I trust I get my goods. Typically that's a bank or merchant like Paypal. These intermediaries only exist because we do not have real trust in each other. Block chain (by nature of the technology which can be further explained) generates virtually 100% trust, meaning we wouldnt need any of those intermediaries to know you have the goods I need, and I have the money you want for the goods. It isn't basically the dark net, that's just another internet really. Bit coin runs on block chain technology, and is currently it's most famous use case. But it is NOT the block chain. Hopefully that helps.

[@steveperry6047]

theflashking good explanation.

[@SidMish]

Thanks a lot

[@machinecode1388]

The two angles are extremely distraction.

[@jeremywyatt7014]

😊 🙏 thanks

[@rpsivan2000]

👌👌👌👏👏👏

[@diegozero7]

lmao at the Honduras fact at the end..

[@badhabitts]

catrachos need the blockchain..

[@amitkumarsaha4994]

More like Blockchain by dummy

[@ikust007]

En français cela aurait été excellent .

[@jamestyson2182]

You can contact Mr James Scott WhatsApp [phone] He's the god of crypto He is simply the best He helped me alot Follow his Instagram live tutorials,You'll learn alot !

[@zafar78600]

Until the hackers get the blocks!

[@akshayadongre]

too long explanation for a short concept. Need to work on it Sir. Rest was fine.

[@annatullison1482]

sounds like a PYRAMID SCHEME TO ME.

[@jjk2one]

Fine if I didn't have to watch you hands wave all around.

[@thenylon1003]

Why the FUCK!!! is here standing in the bottom right corner?

[@HH-wd6xo]

the intro is mildly disturbing