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

in Project HOPE4 months ago

For a complete noob.

A blockchain is an electronic ledger. Ledgers have been used since antiquity to record every transaction at the time it is made. Then, later one can look through those records and extract useful information such as income and expenditure, profit and loss, running capital etc. That's all it is!

However, keeping such an electronic ledger secure and immutable is the hard part that turns a simple idea into a complicated system.