Blockchain explained in non technical terms

By Samuli Holopainen on ALTCOIN MAGAZINE

What is this blockchain everyone is talking about in cryptocoin world?

Let me start explaining it to you by comparing it to a queue.

Nowadays it is usual when you go to a bank for example, for you to start your visit by taking a queue number. You push this button on a machine and it spits out a paper with a number like 132 in it.
You look at screen and see number 105 in it and know there are still more than 20 people in front of you before it is your turn.

This system works somewhat fine, but there are some problems. Like if you lose your number you will also lose your place in queue since no one knew you had that number. Also, if someone else steals someone elses number, there is once again no protection there. People in queue can change as much as they like, and as long as they have right number, this system does not notice any difference.

There is also slight inefficiency in this system. For if people from between decide to leave, their numbers will still be called and after a while of delay they start calling for the next number. And sometimes when there are lots of people missing from queue, you do notice the momentary slow down that could have been avoided using more…