Blockchain explained in plain English

Understanding how blockchain works and identifying myths about its powers are the first steps to developing blockchain technologies.

Blockchain is an algorithm and distributed data structure for managing electronic cash without a central administrator among people who know nothing about one another. Originally designed for the crypto-currency Bitcoin, the blockchain architecture was driven by a radical rejection of at (government-guaranteed) money and bank-controlled payments.

Blockchain is a special instance of Distributed Ledger Technologies (DLTs), almost all of which have emerged in Bitcoins wake.

HOW DOES BLOCKCHAIN WORK?

Blockchain is a Distributed Ledger Technology (DLT) that was invented to support the Bitcoin cryptocurrency. Bitcoin was motivated by an extreme rejection of government-guaranteed money and bank-controlled payments. The developer of Bitcoin, Satoshi Nakamoto envisioned people spending money without friction, intermediaries, regulation or the need to know or trust other parties.

Technically, the original blockchain is separable from Bitcoin, but this report will show that the blockchain design is so specific to Bitcoin that its not a good fit for much else.

The central problem in electronic cash is Double Spend. Because pure electronic money is just data, nothing stops a currency holder from trying to spend it twice. Blockchain solves the Double Spend problem without a digital reserve fund or similar form of umpire.

Blockchain monitors and verifies Bitcoin transactions by calling upon a decentralized network of volunteer-run nodes to, in effect, vote on the order in which transactions occur. The networks algorithm ensures that each transaction is unique.

Video created by the Centre of International Governance Innovation.

Digital currency, how does it work, whats a data miner and will Bitcoin last? We asked Professor Ross Anderson of the University of Cambridge Computer Laboratory.

The Problem with BitCoin: youtu.be/s2XHyzPA9Zc
Chip

This is part two in my basic visual introduction to the concepts behind a blockchain. We build on the concepts from the previous video and introduce public / private key pairs and signing using an interactive web demo.

If you missed it, part 1 is here: youtu.be/_160oMzblY8

If you are interested in playing with this on your own, it is available online at:

anders.com/blockchain/public-private-keys/

The code that runs this demo is also on GitHub:

github.com/anders94/public-private-key-demo

If you want to know more about how public key cryptography works, see the Wikipedia page on it: en.wikipedia.org/wiki/Public-key_cryptography

The details of how public keys relate to private keys are hard to summarize, but it has to do with Eulers theorem. Basically, using Eulers theorem there is some math you can do to a number given some parameters (which Ill call the public key) which allows someone with some other parameters (which Ill call the private key) to decipher the original number without having to do brute force factorization because there is a shortcut way to find the phi of a prime number. Rather than me butchering the explanation, check this video series out for a more detailed explanation: www.khanacademy.org/computing/computer-science/cryptography/modern-crypt/v/the-fundamental-theorem-of-arithmetic-1

Im @anders94 on Twitter and @andersbrownworth on Steemit.

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At Global Architecture Week 2015, we covered ‘Digital Currencies and Cash’ and their relevance to Tax and Welfare Authorities, concluding with the message: “It’s not about Bitcoin, it’s about the Blockchain”.

Blockchain technology has the potential to enable a new mutually trusted, transparent way of sharing and transacting. In the UK Public Sector, Sir Mark Walport’s report Distributed Ledger Technology: Beyond Blockchain encouraged Government to assess its early use and potential. Meanwhile in the private sector, Blockchain FinTech excitement among start-ups and venture capitalists remained strong for a technology promised to be “like a whole new internet for value exchange”.

But where are the real world use cases today? What is it that makes a use case more likely to succeed?

In this talk, Nick Meyne, Enterprise Architect, Capgemini shares and discusses a number of Capgemini examples.

Filmed at Capgemini Week of Innovation Networks 2016 in Telford, UK.

Blockchain is currently at the peak of the Hype Cycle. It is a simple concept, yet difficult to understand and comprehend. It is also in the same place as the Internet was in 1995 – very early, with its major applications yet to be built. Blockchain is a much a philosophy as a technology, and has the potential to change the world as the Internet did. It promises to radically transform identity, agriculture, money, energy, governance, and pretty much everything else, especially in the emerging countries. This TEDx talk demystifies blockchain as never before, and explains how it can change the world around you… Jaspreet Bindra is a digital transformation and Blockchain expert. Until very recently, he was the Chief Digital Officer of $20bn Mahindra Group; and he continues as their Digital Adviser. He speaks, writes, teaches and consults on Digital Transformation and Blockchain, and is currently building a company around the same. This talk was given at a TEDx event using the TED conference format but independently organized by a local community. Learn more at www.ted.com/tedx

BLOCKCHAIN CITY

Capturing the insights of leading figures from the technology industry, the Blockchain City Documentary is the story of cities around the world and their shift towards being technologically powered through Blockchain. With Interviews from leading governments worldwide that have implemented Blockchain technology, including the Government of Netherlands, Government of Estonia and of course the City of Dubai, the film captures what is shaping our collective tomorrow so that we can all join hands and take the next steps together.

WHAT IS BLOCKCHAIN
The distributed ledger technology invented by an unknown entity under the name of Satoshi Nakamoto has sent more shockwaves around the world than anything else. Blockchain is not about just doing things in a different way, but it completely changes the way things are done, in essence re-creating models for finance, trade, logistics, education, healthcare and more. This documentary film will help viewers understand the impact of Blockchain and capture their definition of the technology

MIT 15.S08 FinTech: Shaping the Financial World, Spring 2020
Instructor: Prof. Gary Gensler
View the complete course: ocw.mit.edu/15-S08S20
YouTube Playlist: www.youtube.com/playlist?list=PLUl4u3cNGP61Q_RVDn6srWbLV_zFnd9n0

This class covers blockchain technology and cryptocurrencies. Topics include the history of money and payments on the Internet, crypto markets, blockchain technology use cases, and central banking

License: Creative Commons BY-NC-SA
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Building enterprise blockchain applications on your own infrastructure is often expensive, complicated, and time-consuming. Amazon Managed Blockchain makes it easy to build scalable blockchain applications by eliminating the need to setup and manage infrastructure, allowing you to focus on writing applications for your business. In this tech talk, you will learn how to build an application on Amazon Managed Blockchain with the help of demo applications and sample code. We will dive deep into product features, APIs, the Fabric SDK, and how to add new members and join Fabric channels.

Learning Objectives:
— Learn how to use Amazon Managed Blockchain and its features and functionality
— Understand through a demo and sample applications on how to get started with building a blockchain application
— Learn Hyperledger Fabric functionality such as Fabric SDK, how to create and join Fabric channels

A short story on how this new technology is shaping and moving beyond the bitcoin hype. In this talk, Daniel will attempt to reveal the principle behind Blockchain, its potential to defy current systems and why Blockchain is probably the biggest technological invention since the PC in the 1970s and the Internet in the 1990s.

Daniel Gasteiger is an entrepreneur based in Zurich, co-founder of nexussquared. Daniel carries a driving passion to support and further develop the Swiss blockchain ecosystem. He embodies more than 20 years of experience in financial services — starting out as an FX trader at Credit Suisse, he then joined UBS in a variety of roles including until recently, managing the Chairman’s office as a Managing Director. In his recent co-authored whitepaper, “Act Now or Follow Later”, he achieves a remarkable ‘call to action’ by describing why Switzerland must seize the Fintech challenge.

This talk was given at a TEDx event using the TED conference format but independently organized by a local community. Learn more at ted.com/tedx

This Blockchain video will help you understand what led to the creation of Blockchain, what Blockchain is, how a Bitcoin transaction works, how Blockchain plays an integral role in it with feartures like hash encryption, proof of work and mining and how Blockchain technology is used in real life scenarios. Now, let’s dive into this video and understand the basics of Blockchain and How Blockchain works

To learn more about Blockchain, subscribe to our YouTube channel: www.youtube.com/user/Simplilearn?sub_confirmation=1

Watch more videos on Blockchain: www.youtube.com/playlist?list=PLEiEAq2VkUUKmhU6SO2P73pTdMZnHOsDB

#Blockchain #Whatisblockchain #BlockChainExplained #Blockchaintutorial #Bitcoin #Blockchainonlinetraining #Blockchainforbeginners #BlockchainTechnology #Simplilearn

Simplilearn’s Blockchain Certification Training has been designed for developers who want to decipher the global craze surrounding Blockchain, Bitcoin and cryptocurrencies. You’ll learn the core structure and technical mechanisms of Bitcoin, Ethereum, Hyperledger and Multichain Blockchain platforms, use the latest tools to build Blockchain applications, set up your own private Blockchain, deploy smart contracts on Ethereum and gain practical experience with real-world projects.

Why learn Blockchain?
Blockchain technology is the brainchild of Satoshi Nakamoto, which enables digital information to be distributed. A network of computing nodes makes up the Blockchain. Durability, robustness, success rate, transparency, incorruptibility are some of the enticing characteristics of Blockchain. By design, Blockchain is a decentralized technology which is used by a global network of the computer to manage Bitcoin transactions easily. Many new business applications will result in the usage of Blockchain such as Crowdfunding, smart contracts, supply chain auditing, etc.

This Blockchain Certification course offers a hands-on training covering relevant topics in cryptocurrency and the wider Blockchain space. From a technological standpoint, you will develop a strong grasp of core Blockchain platforms, understand what Bitcoin is and how it works, learn key vocabulary and concepts commonly used when discussing Blockchain and understand why engineers are motivated to create an app with Ethereum.

After completing this course, you will be able to:
1. Apply Bitcoin and Blockchain concepts in business situations
2. Build compelling Blockchain applications using the Ethereum Blockchain
3. Design, test and deploy secure Smart Contracts
4. Use the latest version of Ethereum development tools (Web3 v1.0)
5. Develop Hyperledger Blockchain applications using Composer Framework
6. Model the Blockchain applications using Composer modeling language
7. Develop front-end (client) applications using Composer API
8. Leverage Composer REST Server to design a web-based Blockchain solution
9. Design Hyperledger Fabric Composer Business Network 10.
10. Understand the true purpose and capabilities of Ethereum and Solidity

The Blockchain Certification Training Course is recommended for:

1. Developers
2. Technologists interested in learning Ethereum, Hyperledger and Blockchain
3. Technology architects wanting to expand their skills to Blockchain technology
4. Professionals curious to learn how Blockchain technology can change the way we do business
5. Entrepreneurs with technology background interested in realizing their business ideas on the Blockchain

Learn more at: www.simplilearn.com/blockchain-certification-training?utm_campaign=What-is-Blockchain-yubzJw0uiE4