What is Blockchain? Blockchain Technology Explained Simply

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Blockchain technology is a way of managing a ledger of records in a decentralized manner. It means that everyone participates in maintaining and updating the ledger, which makes it practically impossible to falsify.
While Blockchain technology is a good solution to the issue of centralization, it’s also very inefficient and slow, therefore it should only be used if the problem at hand is indeed centralization.
That’s Blockchain technology in a nutshell. If you want a more detailed explanation about the Blockchain and how Blockchain technology watch the complete video , here’s what I’ll cover:
0:54 - What blockchain aims to solve
2:48 - Bitcoin: the decentralization of money
3:10 - Decentralization opportunities
4:04 - Blockchain explained in a nutshell
5:16 - How does blockchain technology work
10:05 - Ethereum in a nutshell
10:26 - Private blockchains
11:40 - Public blockchains
11:58 - Is blockchain the next big thing?
13:12 - Conclusion
For the complete text guide visit:
99bitcoins.com/what-is-blockc...
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Still have questions? Leave us a comment in the comment section below

[@99Bitcoins]

CAUTION!! Many scammers are using the comment section to promote their scams and sometimes even use the name “99Bitcoins” in their profile. Never send money to someone you don’t know and don’t accept offers to trade or exchange cryptocurrency from strangers. Stay safe 🙏🏻🙏🏻🙏🏻

[@billhammett174]

This series is outstanding! Best in class.

[@Equanimity70]

I’ve watched a few videos about blockchain and this is honestly the only one that helped me understand what it is, thank you!

[@theheavytruth6309]

Is bitcoin the new gold rush? Like a new era like the 80'w and cocaine money..is it something you can get deeply involved in and make a fortune..? Or is it a fad?

[@conorm2524]

If you watched this video first it would have been just as confusing as the others you watched. By watching multiple videos on any new subject it'll take a few goes for the knowledge to sink in. So this video merely cemented what you had already picked up from previous videos. Have a nice weekend.

[@mahfuzahismail]

Sameee easy to understand

[@parabolicfinancenews9887]

@@theheavytruth6309 its here to stay but BTC will be a collectable. The idea is to get people used to digital currency and then everybody to Central Bank banked digital currencies. Essentially a gateway to introduce the new digital Fiat system. There is lots of money to be made though you have to research the projects and the tokens that you were purchasing. Blockchain technology is the real prize here not BTC

[@tyranmcgrath6871]

Me too

[@mattwebbertime]

Love the blooper reel at the end

[@stocksandblocks9661]

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

[@legendarybabz6516]

Wonderful comment I really appreciate a lot write my administrator on whats app to assist you make profits in crypto + 1 4 4. 2 2. 4. 4. 7 8. 8 1 Do well to tell him I referred you to him his strategies are top notch 🇱🇷🇱🇷☑️

[@nubee3471]

you ever just watch 100 videos of blockchain and never get it, but then u find that 1 video and you're like "OHHHH I get it now." This was my "1 video"

[@wyattbooty579]

This was me for like a fuckin week

[@flabunny1]

yep, me too.

[@Cresta-fm8uj]

Yeah, this one actually explains it well and doesn’t just try to describe it as transactions or whatever

[@lordhelmit1499]

No

[@kamui4708]

U need to watch all different video of Blockchain so in the future you will get it what they said

[@Greg.Lacoste]

loved the video. been looking to educate myself on this tech and hopefully be able to spread the information. Thank you

[@DanFreemanThee]

By far the best explanation of Bitcoin & Blockchain I've seen.

[@MK4lyfe]

One of the best videos (if not the best) I have seen on understanding what bitcoin and blockchain is.

[@AntuNeelesh]

Thanks for such lucid and simple explanation, it made my day !!

[@christianbargraser2403]

This video should be moved up on the playlist. It's very helpful for understanding the previous videos.

[@legendarybabz6516]

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[@nathanielmink5688]

man I love your videos, they are so easy to understand and are really making me understand everything! thank you so much for your wisdom.

[@OpeLeke]

your videos are high quality man. keep it up

[@shreeveda]

Very well presented. Clarifies a lot. The resistance to this tech is due to 2 factors: 1) Uncertainty or Security fears, as there's no proven history 2) Lack of awareness. This is exactly how huge corporates reacted when Cloud computing started. Now Cloud is everywhere. Such tech is always 'blocked' before it gets accepted by all. 😄👍

[@jamessahota2752]

WOW! so well explained! Well done Nate!

[@freddyperezjr]

With all due respect, Dude you´re the man. Excellent explanation!

[@thehouseofgamesofficial5922]

DUDE COME ON

[@carolynoconnor1509]

Thanks for such a video, I have seen that many fails to explain the concept so clearly.

[@patricklucas8008]

You my friend are a great teacher without all the jargon/lingo

[@legendarybabz6516]

Wonderful comment I really appreciate a lot write my administrator on whats app to assist you make profits in crypto + 1 4 4. 2 2. 4. 4. 7 8. 8 1 Do well to tell him I referred you to him his strategies are top notch 🇱🇷🇱🇷☑️

[@jewel8725]

this video explains blockchain so well. Good job

[@lericamims]

This is very informative. I like that you did a bloopers at the end. Made learning fun!

[@tegvirpaintal981]

How long before this can be used in general by everyone ?

[@MyOneEdit]

It is hard work to make these videos by the look of the bloopers. It is harder to explain complex concepts clearly. Great job. 👍

[@seamuskeane7931]

BEST IN CLASS SERIES - EXCELLENT, thank you

[@Ms.K001]

Thank you, this is very helpful!

[@PSModelling]

Full marks for Encyclopaedia Britannica comparison very intuitive way to understand the difference.

[@m.money0753]

This video was so helpful much easier to understand,explained so clear thanx!

[@DagolarFly]

Great video. Brilliantly developed. Thanks Nate Martin. Love the bloopers at the end.

[@lopezzulema5961]

Have you invested..!

[@BK-hl7qi]

Beautiful explanation! 👏👏

[@meanymouse]

wow thank you for this! this is the first video that i've felt like, okay, i *finally* get this. thank you for the analogies and examples! they are abundantly helpful.

[@99Bitcoins]

Glad it was helpful!

[@vivekanand2268]

Very well explained!! Thanks for the Video!

[@sachinmadishetty7978]

Thanks for such a well organised information With highlights of major topics u will covering in the video

[@mistersir8342]

Thank you! I love good teaching and to the point.

[@rickmercer2794]

Outstanding explanation......thank you.

[@abangpatrick3531]

I Love your video because your a good Educator and your English is simple and clear coupled with the content you present. Thanks

[@sindyvanwyk6885]

Agree Abang

[@johnrysononez5399]

Thank you for this! Very clear explanation.

[@nebster333]

Thank you, this was a wonderful explanation

[@fyodordochievsky4376]

Thank you kindly for an explanation of the blockchain.

[@skiboltskieskye1238]

the outtakes are pretty cool as well

[@SEATennis1]

Wow i actually understood that pretty well. Damn good explaination. Thanks!

[@hawkarrahimi1049]

so well explained thank you

[@sharinmythoughts2510]

Lol, Loved the end. You are great. Always wondered how the technology or concept of bitcoins worked. You did a great overview for the un-savvy folks like me. Much obliged, 🧐 👏👏👏👏👍💞❤️

[@caidu0524]

by far the best presentation of what blockchain. Keep it up please.

[@yozy4996]

An Exceptional, and Excellent video...Thank you.

[@veedubrep]

Thanks for sharing your knowledge!

[@Karl-lu7zn]

Your clarity of explanation is very impressive. One thing that remains vague is to me at least is if mining is problem solving/guessing by sophisticated computers, who or what is initiating the problem that needs solving?

[@salmanrashid3392]

Very useful video. Thanks for creating it and sharing it with everyone.

[@alongegodslove2168]

THanks soo much. Your tutorials are the best

[@annagokieli1497]

Great explanation!

[@Pepperpuff3]

oh my gosh the bloopers at the end hahahha you're INCREDIBLE in your explanations... thank you so much

[@user-fy5dt7ex6v]

Omg this is the best and simple explanation of blockchain I’ve ever watched so far thank you so much for an amazing video.❤️

[@bitcoins-rm6ug]

Inbox +1.3.8.5.3.5.0.0.6.8.7,,,

[@jacoblondono6992]

Liked and subscribed . Im new to Bitcoin but I’m glad I getting involved now before everyone thinks I’m crazy. Your videos are simple and very informative.....Continue to do your due dilenge

[@CyberBPLive]

Best explanation so far that has helped a dummy like me to understand it. Thank you.

[@iamscherzo]

You can have my subscription. dude your explanation is the clearest on the internet

[@MrThaiLuan]

Yep, I've seen other "simple explanations" of the blockchain concept, but this one is it!

[@jopperdepopper]

Thank you, that was helpful..

[@Dabu-Dabu]

as always: great video.

[@lawsonjames6305]

Bitcoin is exciting because it shows how cheap it can be. Bitcoin is better than currency in that you don’t have to be physically in the same place and, of course, for large transactions, currency can get pretty inconvenient.”

[@petermish6712]

Well, I think it is working. There may be other currencies like it that may be even better. But in the meantime, there’s a big industry around Bitcoin. - People have made fortunes off Bitcoin, some have lost money. It is volatile, but people make money off of volatility too.”

[@handersonkroose3950]

When bitcoin currency is converted from currency into cash, that interface has to remain under some regulatory safeguards. I think the fact that within the bitcoin universe an algorithm replaces the function of the goverment …[that] is actually pretty cool.”

[@anthonysmith5882]

It is not a speculative investment even though it is being used as such by other people. As Bitcoin network grows the value of Bitcoin grows. As people move into Bitcoin for payments and receipts they stop using US Dollars, Euros and Chinese Yuan which in the long-term devalues these currencies.

[@alextim6672]

Bitcoin is the beginning of something great: a currency without a government, something necessary and imperative. But I am not familiar with the specific product to assert whether it is the best potential setup. And we need a long time to establish confidence.

[@ayaanjayaraman4662]

At its core, bitcoin is a smart currency, designed by very forward-thinking engineers. It eliminates the need for banks, gets rid of credit card fees, currency exchange fees, money transfer fees, and reduces the need for lawyers in transitions… all good things.”

[@mehrdadsharif686]

This video was by far the most accurate on the blockchain technology.

[@bitcoins-rm6ug]

Inbox +1.3.8.5.3.5.0.0.6.8.7,,,

[@JoyAtlanta]

Great job, thank you so much!

[@leonelgomez6866]

Wow perfect explanation! Definitely won my subscribe!

[@11fasteddie]

Outstanding, have now a better idea of what blockchain is {for dummies lol}. Now a subscriber.... keep up the good work.

[@jgray195]

Thanks for the info

[@mainstechdia4154]

The best explanation I gone through so far ❤️❤️❤️👍👍👍

[@99Bitcoins]

Wow, thank you!

[@bernardosepemonter1231]

Very concise and simple explanation.

[@georgeawad2538]

watching this video is a game changer for me walking into the future

[@ssdeolho5148]

This video makes me understand blockchain very well.

[@hobessie9232]

Thank you for explanation I learnt something from you

[@marcovpicado]

Great job.....thnaks and you have e new follower.

[@kingpho79]

Great video. Maybe an updated one with current faster coins and technology?

[@perminusgithui2978]

A wonderful presentation.

[@jtrivino7422]

Flexa/Amp token awesome project for payments imo...Awesome video thanks for the breakdown and knowledge

[@josephdokhare6609]

very simple and educative

[@luishernan2106]

Good explanation ! Great presenter Thanks

[@KDizzyy]

this was a great video. understood the concept in different analogies and had an A-HA moment so thats always nice. Also, i like how your video layouts are setup and will think about your layout when i start my educational videos.

[@kath134]

Yes absolutely

[@kristenlambert1628]

Excellent break down 👏👏👏

[@AxelMartinezHernandez-es3do]

Thanks you so much for the video, please do more! my life depends on it, I don't want to die

[@davidhill4758]

What a superb and informative video

[@dcrux47]

Very simple explanation. Thanks a lot! I have a question. What are some example cases in which blockchain system is used efficiently or good?

[@JamesTruong]

Thanks for the clear and simple explanations! 🔥🔥🔥

[@bitcoins-rm6ug]

Inbox +1.3.8.5.3.5.0.0.6.8.7,,,

[@sayedahammed5870]

well explained

[@mrfixit80]

Very good job, thank you!

[@kenqcl]

Outstanding video. It helps me a lot to understand blockchain hype

[@quagmyer7230]

Great video, thanks a lot

[@ivanbarbosa81]

very thorough.thank you

[@99Bitcoins]

Glad you enjoyed it!

[@jorgitogaitan]

awesome video. great explainer. question, is there a way to track transactions? who gets to dig into transaction history and what exactly can be extracted from trasactions logs?

[@youtube_fabro719]

Watching this video made me go from 0 to 100 thanks a lot:))

[@mitchheller1422]

Great information Nate

[@sylvesterigwemezie8983]

Excellent! Thanks

[@farzanehhosseinian2394]

it was really useful , thank a lot

[@user-dk7bq7kx9m]

Well explained I got it easier after Watching.

[@bruceread2805]

This was a great explanation especially for someone with a finite attention span

[@chickensandw1tch]

This is great👍🏼💫

[@legendarybabz6516]

Wonderful comment I really appreciate a lot write my administrator on whats app to assist you make profits in crypto + 1 4 4. 2 2. 4. 4. 7 8. 8 1 Do well to tell him I referred you to him his strategies are top notch 🇱🇷🇱🇷☑️

[@yangfanxie2804]

Absolutely fantastic! Wish I could have watched it earlier!

[@tdbhavsar]

Best explanation so far

[@tdbhavsar]

@@tradepro7008 : another scammer spotted

[@newtonhousefitness]

Very informative thank you. I have just started investing in bitcoin and you have answered many questions I have had.

[@mellogee7861]

Nate, with all of the "cryptocurrency-blockchain-DeFi" buzz going around these days, I just had to dig deeper. I found this video, and it helped me out immesnsely! Thanks!

[@ericpohorecky8316]

I wish I learnt this years ago. Interesting!

[@zahurulhaq795]

Outstanding!

[@ritasilvaribeiro70]

Great video! Thanks, helps a lot

[@bitcoins-rm6ug]

Inbox +1.3.8.5.3.5.0.0.6.8.7,

[@bumperthumper8641]

the beginning of this video before he even spoke anything about blockchain was fantastic. wow.

[@billygoat300]

Good stuff!!!