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

in Project HOPE4 months ago (edited)

Blockchain technology is basically a method of recording transactions on a public, distributed ledger. It provides a foolproof, verifiable, and largely immutable record of the transactions.

All the transactions are recorded in a digital "block." Each block of data is mathematically verified through a process called "mining."

When the latest block of transaction records is verified by one of the "miners," that block is added to a chain comprising all previous blocks. Therefore, the "blockchain."

Once a block has been added to the blockchain, it becomes part of a permanent record that is, for all intents and purposes, unalterable.

This great innovation was first applied to Bitcoin. However, it has many possible applications beyond cryptocurrencies, including for smart contracts, financial services and banking, and voting in elections.

(Given that I am hampered by a severe lack of technical knowledge, my answer comes in at far less than 5 minutes. If the interviewer wanted at least 5 minutes, I'd fail the interview. But, as you know, I do not want to work anyway. :-)

(As for your comment about "would not enjoy doing" the job, then I'd say don't pursue it. If one cannot enjoy his/her work, it aint worth doing!!)

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 4 months ago 

Hello, dearest Professor!
It's a real pleasure to reading you again.

Thanks for the note. Yes, I tuned out for a while in August, and since then, have not been able to re-motivate myself. Of course, Piotr and a few others keep encouraging me to post again, so maybe I'll make some new posts someday ... maybe soon.
Hope all is well with you.

 4 months ago 

...have not been able to re-motivate myself.

Eventually, it is inevitable to feel this way.
The most important thing is to be prepared to receive the muse again. I'm sure it will come back to you soon.

Please, stay safe.