You are viewing a single comment's thread from:

RE: BLOCKCHAIN FOR DUMMIES - what would be your explanation? [question from my recent interview]

in Project HOPE5 months ago

For a complete noob in blockchain technology, the easiest way to explain to them is, Blockchain is a public log book that allow people to transact without involving a bank. There are people who hold certain power to make sure the network establishment, they're the server, the owner of witness node or we call them miner. They are the infrastructure supplier of this decentralised log book system, to ensure the integrity of the network. Different Blockchain has different characteristic. Log book and wallet function is only a part of it, but due to the nature of "holding value", this wallet function play an important role of a. lock chain existence.

Just like network file sharing system, like torrent file sharing, they're exactly the same thing. Everyone share their resources and we have a torrent network.

If your wife is the audience, show her this photo. Blockchain is the 555 booklet and the bank is the ringgit. She will get the idea. My regards to her and the little one 😜

[WhereIn Android] (http://www.wherein.io)

Sort:  
 5 months ago 

Thank you for dropping by and for this comment @davidke20

Coin Marketplace

STEEM 1.28
TRX 0.12
JST 0.138
BTC 59402.39
ETH 2128.30
BNB 473.37
SBD 8.39