What is blockchain, and how can it be explained simply?

Recently, we've seen or heard the terms blockchain and bitcoin a lot, bitmain t17+but how can they be used to help a novice like me understand blockchain in a simple and straightforward manner?

Blockchain as an example

Blockchain is essentially a distributed public ledger that anyone can verify, but no single user can control. A blockchain system's participants collaborate to keep an updated ledger: it can only be modified according to strict rules and consensus.

For example, if A lends B $100, the problem is that A yells out in the crowd "I'm A and I lent B, A lent me 100 yuan!" At this time, Chinese passers-by A, B, C, and D all heard these data messages from us, so everyone in the enterprise learns to keep a mental record of "A lent B 100 yuan." This information system does not need to go through the bank, does not need to carry out antminer a10 prothe loan agreement and related receipts, strictly management, and does not even require a long-term trust social relationship between people (such as B suddenly changing his mind and saying "I do not owe A money!") When our people serve the masses, they will not be able to say, "No, my little book recorded that you borrowed a hundred dollars one day!"

Because this is a decentralized system and the entire system lacks the authority of a centralized agent, the credibility and accuracy of information will suffer.

As you may have noticed, the so-called "$100" is irrelevant in the preceding model. In other words, anything can be exchanged in this model; even if you make something up out of thin air, as long as people recognize it, you can make it circulate. For example, if I exclaim, "I made ten chakras!" I don't even need to know what a chakra is or care if there's a real chakra in the crowd as long as everyone hears it, and then I write in my little notebook, "LAIW3N has 10 chakras," even though I actually have 100 chakras. From then on, a10 pro minerI can claim that I gave someone a chakra, and as long as the passerby accepts and acknowledges the message, I'll do the deal even if the world is devoid of chakras. Another example: "Bitcoin," the blockchain is the technology that underpins Bitcoin, the real blockchain, and Bitcoin are far more complex and detailed than the above model.

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