How Blockchain Technology Works in Layman’s English — Infographic

If you aren’t living on the Mars, you surely would have come across the word “blockchain technology” at least for once. Agreeably, you are not so techie-minded, I will take it like that — but you must have heard about cryptocurrency, or about some of its babies such as Bitcoin, Ethereum, DASH, Doge, REDD, STEEM, and the soon to hit the market Dascoin, etc. I can see you are nodding to that… :)

That’s cool.

It is cool in the sense that, your knowledge about it makes my work today much easier. As much as I’d have loved to make you understand what I’m trying to drive at, your lack of proper information about the subject matter would further make the educating process difficult for me and for you.

Coming through…blockchain technology is the technology that powers some of these cryptocurrencies. It is not just about money, blockchain technology goes beyond sending and receiving of money…it is a whole new ecosystem where you can do virtually anything. It is like a database or say, a registry of data.

I’ve published quite a lot of articles in the past ranging from bitcoins to other blockchain powered technologies. You can go here to read them, but today, I just want to quickly share these two powerful infographic picture I came across. They are worth sharing because they carry great amount of information about this technology.

Read on and enjoy.

This Is How Blockchain Technology Works

How blockchain technology works

Blockchain technology is the 21st century disruption that we are anticipating to channel us into the next realm of technological advancements. But the question still remains to be answered on how the blockchain technology actually came into existence and how a layman could embrace it.

The second infograph below also expands further on how blockchain technology works for a layman to have something to take home.

How blockchain technology actually works

How does blockchain technology work? This has always been a question that has gone for a very long time without proper answer but this infograph from PDForest explains the concept behind blockchain technology and how it works in a layman English.

You can read all my other articles on Steemit here https://steemit.com/@residual