Still Don’t Understand Blockchain? A List of the Best Blockchain Explanations Out There
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Blockchain, the technology powering cryptocurrency and a multitude of companies worldwide, is now finding significant uses across various industries. Given that it is expected to revolutionize the way the world does business, it is complex and often difficult to understand. Instead of searching the Internet for the best explanation of blockchain, you can look up the following resources that give some insight into what blockchain is and how it functions.
Blockchain: Simply Explained
Produced by: Simply Explained
Type: Video
This video provided by Simply Explained gives a brief explanation of the history of blockchain and describes its various components. It discusses the elements of a distributed ledger and the democratic process involved for the transparency, security, and privacy of blockchain transactions.
Blockchain in 100 Words
Produced by: Deloitte
Type: Article
In this article, Deloitte attempts to explain blockchain in under 100 words. It uses the analogy of sending a shared file between two government accountants in order to explain the basics of a distributed ledger. The article continues after 100 words to give readers a deeper understanding of blockchain as a whole.
Digital Data Gone Rogue
Produced by: Wired
Type: Video
Wired gives a brief breakdown of how blockchain’s security features function by explaining the concept of a distributed ledger. It also covers how blockchain is being used by financial, medical, and food businesses, and its potential uses in the future.
Jacob, Santa, and Blockchain
Produced by: Lisk
Type: Video
This video explains how blockchain cuts out the middleman and improves transparency through the analogy of Jacob sending a letter to Santa. It provides information that is easy to digest in a little under three minutes.
An Explanation of Blockchain for Grandmothers
Produced by: Finextra
Type: Article
In this article, Enrico Camerinelli describes the analogy he used to explain blockchain to his grandmother. He describes the basic function of a digital ledger through the story of a man in a shopping mall attempting to make a payment with a 100 dollar bill.
Blockchain Explained Through Five Levels
Produced by: Wired
Type: Video
In this somewhat lengthy video, running just under 18 minutes, Bettina Warburg, Co-founder of Animal Ventures, discusses blockchain in five levels. The first level consists of an explanation catered to a child. On the second level, Warburg expands her blockchain explanation in a conversation with a teenager. The third level consists of a discussion of blockchain with a college student. On the fourth level, a graduate student discusses blockchain with Warburg and its future potential. And finally, the fifth level consists of a blockchain expert describing blockchain and where the technology is headed.
Blockchain Explained by an Expert
Produced by: MIT Sloan
Type: Article
In quite possibly the best blockchain explanation on this list, Zach Church describes every aspect of the technology. The article discusses what blockchain is, its relation to bitcoin, how it can be used by businesses to reduce cost, and when it will be completely implemented into society. Church interviews blockchain expert Christian Catalini in the article to get his insights on the developing technology.
The Apple Analogy
Produced by: Free Code Camp
Type: Article
In this article, Nik Custodio explains the basic principles of blockchain by using an analogy formulated from the trade of apples. It breaks down the problematic issues associated with the current exchange of information, and how blockchain rectifies it.
Blockchain From a Designer’s Point of View
Produced by: Trish Kelly
Type: Article and graphics
Trish Kelly, a UX designer in the blockchain space, struggled to understand blockchain for quite some time. Despite asking developers, consultants, and blockchain experts, she was unable to get a proper understanding of the technology. By applying it to her industry, she got a firmer grasp on the technology and aims to explain the basic functions of blockchain in her article.
A Visual Guide to Blockchain
Produced by: Reuters
Type: Visual guide
Reuters took a stab at explaining blockchain through a visual guide. It features extensive use of graphics intended to educate readers through the various steps of a blockchain transaction. It covers all of the technical procedures required for a blockchain to function. It then ends by detailing blockchain’s possible uses.
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