Blockchain In 7 Minutes | What Is Blockchain | Blockchain Explained|How Blockchain Works|Simplilearn
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- เผยแพร่เมื่อ 9 มิ.ย. 2024
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Explore the concept of blockchain and understand what is blockchain with our informative video, providing insights into this revolutionary technology.
This video on Blockchain in 7 Minutesby Simplilearn will help you understand what is Blockchain and how blockchain works. In this video, you will 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 features 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.
Below are the topics we have covered in this Blockchain in 7 minutes video.
00:00 Blockchain In 7 Minutes
01:03 What are Cryptocurrencies?
01:30 What Is A Ledger?
03:13 What Is Blockchain?
05:50 How Walmart uses Blockchain?
To learn more about Blockchain, subscribe to our TH-cam channel: th-cam.com/users/Simplile...
Watch more videos on Blockchain: • Blockchain Tutorial Vi...
#Blockchain #Whatisblockchain #BlockChainExplained #Blockchaintutorial #Bitcoin #Blockchainonlinetraining #Blockchainforbeginners #BlockchainTechnology #Simplilearn
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D hash ac555363@gmail.com
The Answer is A. Am I correct???
GOD BLESS SHEWENHACKS ON TELEGRAM THEY ARE THE BEST I CONFIRMED 10BTC AND GOT MY WITHDRAWAL SUCCESSFULL WITHOUT ANY ISSUES OR IRRELEVANT CHARGES
Can we just appreciate how this guy has almost a million subscribers and has the time to reply to every comment. Props to you man!
Thanks for watching our video and sharing your thoughts. Do subscribe to our channel and stay tuned for more. Cheers!
@IR Prod
That is called humility.
He is using block chain tech 😂
some of his replies look copy/pasted
He's using bots bro
A - PUBLIC DISTRIBUTED LEDGER.
And thanks for explaining it in simple way.
I've listened to several podcasts and multiple videos, and so far, this one was the best example for how I was able to finally understand block chain. Really appreciate the video, thank you!
Glad you enjoyed it!
I've watched several videos about blockchain but this one made me really understand how it works - thanks!
Glad it was helpful! Thank you for watching!
Thank me later
I watched several videos about blockchain but can you make me to understand about the blackchin
Please share your feedback below and don't forget to attempt the quiz at 05:19 (by commenting your email id and answer) to be one of three winners who can win amazon vouchers worth Rs.500 or $10 (depending on your location). We will give out the answer and announce the winners on Monday, 11th March 2019 in this same comment! Happy Learning!
Simplilearn
Email: baygald@yahoo.com
Answer: hash encryption
Hi, thanks for your reply! We will give out the answer to the quiz on Monday, 11th March 2019. If your answer is right, you could be one of the 3 lucky winners to grab Rs 500 or $10 worth Amazon voucher. Stay Tuned!
Option A
Email: vartikarana2000@gmail.com
Ans: Hash encryption
Hi Adeeba, thanks for your reply! However, without your email id, we won't be able to give you the prize and neither would your answer be counted as valid. So comment your email id down below now to get back in the contest!
Thank you for breaking it down in a 7minute video and keeping it entertaining I didn’t fully understand it before !
Glad it was helpful!
Thank you for so such a simple, in depth, and fun video!
Glad it was helpful!
Expensive dinner!
Hehe! True that!
hahahahahha
Hahaha
Yes that's true
Bitcoin is really profitable at this stage.
This is an amazing explanation of blockchain, thank you so much Simplilearn!
I have shared this with all my friends. Kudos to the effort you guys put in
Hi Pooja, thanks for the kind compliment. Do subscribe to our channel and get our new video updates directly into your email. If you have any questions related to these videos, you can post in the comments section, we will clear your queries/doubts.
Thank you 🙏
Finally! I've watched several videos and this is the only one I actually understand. Thank you so much
You're welcome!
Hit me up
absolutely brilliant video. you have explained it in a way that makes it super easy to understand
Glad it was helpful!
Blockchain is changing every industry. Be the first mover and kick-start you career with our latest Blockchain Career Guide. Comment below for your copy.
Hi everyone, exactly two weeks ago, we conducted a quiz contest in our Blockchain video. The answer to the quiz is given below:
Option: A
(Public Ledger)
The concept of public distributed ledger ensures that everyone on the blockchain network has a copy of the ledger. Thus, no single person can make changes in the ledger as everyone else will flag this as invalid.
Hash Encryption is not the right answer as this is used to maintain users' anonymity and verify their transactions' authenticity.
We are pleased to announce the 3 lucky winners who got the right answer for our quiz:
1. Dinesh
2. Noel Philip
3. Vaishnavi
Congratulations to all the winners! They've won an Amazon voucher worth INR 500.
So someone can alter the data, it would just be pointless? Correct me if I am wrong but this does not strictly answer what prevents alteration - if your answer relies on people flagging the now altered data....
@@Bamir96 In a way, yes, it depends on the people on the network. But as of now, the concern of the data being altered isn't one we need to worry about since it's never been done. More importantly, the process of altering the data within a block is one that requires a lot of processing power, and by the time this hypothetical process is fulfilled, a new block would have been added to the blockchain. This would render the whole alteration pointless.
@@SimplilearnOfficial Furthermore, if by any chance one of the participants successfully alters the Public Ledger, then surely the majority of the participants (51%) will loose confident in the network and the investment value will sharply decline.
You are right. Thanks for your valuable input!
Hello, I'd like to know what to write on the address 1 and 2 and what kind of postal code it shld be wen setting up Blockchain?
You're unbelievable! I'm subscribing immediately! Thanks for the enlightenment.
Welcome aboard!
2 btc each for dinner nowadays 😂
I was looking for a stripped down explanation of blockchain, and found it here. I get it at it's core. Thank you so much. You're right, that was one expensive meal.
Thank you for the appreciation. You can check our videos related to various technologies and subscribe to our channel to stay updated with all the trending technologies.
This topic gave me a headache and with your demonstration, I completely understand now, how this works. Thank you!
You're very welcome!
The best explanation for a novice that I've seen to date. Kudos to the creators if this video!
We are glad you found our video helpful, Ajay. Like and share our video with your peers and also do not forget to subscribe to our channel for not missing video updates. We will be coming up with more such videos. Cheers!
I
Just amazingly described ... I wonder how much beneficial this technology is going to be! Thanks for making me understanding the initial knowledge of Blockchain..
Our pleasure. Happy to help!
The knowledge I just acquired is a billion times more than the Amazon gift card. Keep the good work. Nice tips for entrepreneur and coders
Glad it was helpful!
Hit me up
I am completely new to the concept of blockchain.. and even bitcoin... I just thought that I won't be able to understand this.. but thanks to this video... this is the first video I watched for understanding what is blockchain and I have understood 100% of the information given in this video.. thanks to your channel. Keep it up.. 🙂
We are glad you found our video helpful. Like and share our video with your peers and also do not forget to subscribe to our channel for not missing video updates. We will be coming up with more such videos. Cheers!
Solid Video! I have to learn about blockchain for a class of mine and this couldn't have helped more! Thank you all so much!
Hello, thank you for appreciating our work. We are glad to have helped. Do check out our other tutorial videos and subscribe to us to stay connected. Cheers :)
Thank you for your lucid video. Was really helpful for figuring out what blockchain is and how it works.
Glad it was helpful!
I appreciate this video
This is exactly what I need as motivation.
Glad it was helpful!
Thanks for that simple, complete, understandable explanation. Will be sure to share it with my friends..
Glad it was helpful!
I really need to know more about blockchain
miners part i didnt understand pls explain how does miner validate the criptografy. and why this is specially need in cryto currect crypto does all cryptografy need so much processing power? bit coin transaction will be slow to?
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fantastic video, it explained EVERYTHING PERFECTLY. THANK YOU❤❤❤❤❤❤
Hello thank you for watching our video .We are glad that we could help you in your learning !
After many researches you are the one who explained the blockchain to me ! Thank you
Glad it was helpful!
Thanks for that explanation. I’m going to watch it again. I recently started investing in cryptocurrency and I was unfamiliar with all the terminology. Your brief explanation opened my eyes more to the future of blockchain technology.
Glad it was helpful! Thank you for watching!
How did it go?
This is the most informative video I've ever watched !
Thanks for watching our video and sharing your thoughts. Do subscribe to our channel and stay tuned for more. Cheers!
Finally starting to understand this a bit more. It has been a slow process, need to rewatch it again. Thanks!
Keep learning with us .Stay connected with our channel and team :) . Do subscribe the channel for more updates : )
Now I understand what is Blockchain
Great to hear that Simplilearn is helping you learn better .
Very clear explainations! Good.
Greetings! Thank you for your kind words. Spread the word by liking, sharing and subscribing to our channel! Cheers :). You can also explore our playlists for more Blockchain: th-cam.com/video/yubzJw0uiE4/w-d-xo.html.
Best explanation video so far. I just wished that there will be an in-depth discussion on the mining part. But all in all, this is great. Will definitely recommend this one to my friends.
Thanks
Glad it was helpful!
Never seen an explanation this detailed, nice work you doing here your videos have really helped me
Awesome, thank you!
Our mission is to inform people about bitcoin. You are doing a great job!
WooHoo! We are so happy you love our videos. Please do keep checking back in. We put up new videos every week on all your favorite topics. Whenever you have the time, you must also check out our blog page @simplilearn.com and tell us what you think. Have a good day!
Like a station wise assembly in a manufacturing company.
Every station has certain work they have to follow .
Each station is regularly checked .
Nice example!
And they are rewarded bitcoins.
Just came across your channel. Exactly what i wanted. Simple to the point and clear. Thank you so much!
You’re method of explanation is supreme thank you so much i watched others but yours nailed it !
Thank you for the explanation. It is very easy to understand.
You are welcome! Thanks for watching!
Looking at this I would say blockchain is definitely the future
True that!
yesss
Wow.. Such a simple way to understand blockchain. Kudos to this guy. ❤️
Glad you liked it
Thank you sir!.. Truly non technical student could also have a fast learning by your videos in simple form
You are most welcome
Hi, I have a test on business disruptive technology tomorrow and I would like to know about P2P network in an easy way and how to illustrate or draw a diagram for an example for blockchain.
Hi Sara, you can refer to our Blockchain 101 video where we have used an example and explained the P2P network in a simple way: th-cam.com/video/WC794IwOuL0/w-d-xo.html.
I get bitcoin now, but when I didn't, I wish I had this video to explain what bitcoin and the technology behind it (blockchain) are. Thank you so much.
Hey Jabib, thank you for appreciating our work. We are glad to have helped. Do check out our other tutorial videos and subscribe to us to stay connected. Cheers :)
This is the best Blockchain explanation video on TH-cam. This cleared all my doubts. Thank you.
Glad it was helpful!
What an explanation!! Clearly understood.Thank you sir✨
Most welcome!
Clear and concise explanation; you're a great teacher! If I may suggest something, is have the answer(s) to your quiz in the details section?
The contest is over and winners have been announced in our community and also mentioned in the top comment of the video as well. Thanks for your participation.
Explanation:
Answer: A (Public Distributed Ledger)
The concept of public distributed ledger ensures that everyone on the Blockchain network has a copy of the ledger. Thus, no single person can make changes in the ledger as everyone else will flag this as invalid.
The answer is A, good explanation, I think I’m starting to get what blockchain is, many thanks
"Hi, you got the right answer. Kudos.
The contest is over and winners have been announced in our community and also mentioned in the top comment of the video as well. Thanks for your participation.
Explanation:
Answer: A (Public Distributed Ledger)
The concept of public distributed ledger ensures that everyone on the Blockchain network has a copy of the ledger. Thus, no single person can make changes in the ledger as everyone else will flag this as invalid.
"
@@SimplilearnOfficial I know, im just interested and somewhat intrigued with the technology, thanks for the great explanation
great description of blockchain not only for cryptocurrency but very very very interesting description for applications in the logistics and supply chain industry. Many thanks, you have given me so many great ideas....
Glad it was helpful!
I almost gave up on my curiosity of blockchain glad I watched your video. Now I get it. 😊 Thanks.
Glad it was helpful!
Question, so what happens in the time it takes for someone to validate your transaction, ie, the miner? Are we talking few seconds or hours?
Hi, Simplilearn provides online training across the world. We would be happy to help you regarding this. Please visit us at www.simplilearn.com and drop us a query and we will get back to you! Thanks!
The concept of public distributed ledger ensures that everyone on the Blockchain network has a copy of the ledger. Thus, no single person can make changes in the ledger as everyone else will flag this as invalid.
but what if all of the people alter the ledger ? is that possible?
"Hi, you got the right answer. Kudos.
The contest is over and winners have been announced in our community and also mentioned in the top comment of the video as well. Thanks for your participation.
Explanation:
Answer: A (Public Distributed Ledger)
The concept of public distributed ledger ensures that everyone on the Blockchain network has a copy of the ledger. Thus, no single person can make changes in the ledger as everyone else will flag this as invalid.
"
Wow, this is such an eyeopener, where the world is heading to, i am really happy i came across your video, your explanation are soooo beginners and very understandable. Thank you
Glad it was helpful!
This is an amazing explanation of blockchain, thank you so much Simplilearn!
I have shared this with all my friends.
Much appreciated!
Nice video, concept made easy to understand.
Blockchain technology can be used wherever there is work or process flow to correctly identify source of issue.
Hey Amol, thank you for watching our video. We are glad that you liked our video. Do subscribe and stay connected with us. Cheers :)
Our uni recommends this channel as an official source of self-education
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The answer to the question is option A.
Thank you for your simple explanation about Blockchain. İ am a Math and İT teacher. İ am sharing your vid with my students as well.
"Hi, you got the right answer. Kudos.
The contest is over and winners have been announced in our community and also mentioned in the top comment of the video as well. Thanks for your participation.
Explanation:
Answer: A (Public Distributed Ledger)
The concept of public distributed ledger ensures that everyone on the Blockchain network has a copy of the ledger. Thus, no single person can make changes in the ledger as everyone else will flag this as invalid.
"
This video is really comprehensive and the best video that really explains blockchain and am able to understand the concept behind it, thumbs up for a great job.
Glad it was helpful!
Amazing explanation... Really Loved It. Thank You!
Hey Swapnil, thank you for appreciating our work. We are glad to have helped. Do check out our other tutorial videos and subscribe to us to stay connected. Cheers :)
See this is great bc it gives me an initial scenario versus just starting into a blockchain definition. Thank you!!
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Thanks for the video, it's informative & concise...Answer is option-A (Public Distributed Ledger)
"Hi, you got the right answer. Kudos.
The contest is over and winners have been announced in our community and also mentioned in the top comment of the video as well. Thanks for your participation.
Explanation:
Answer: A (Public Distributed Ledger)
The concept of public distributed ledger ensures that everyone on the Blockchain network has a copy of the ledger. Thus, no single person can make changes in the ledger as everyone else will flag this as invalid.
"
Thank you. This video explains a lot and it's very easy to understand.
Glad it was helpful!
Hit me up
Best blockchain explanation on TH-cam. Thank you
Glad it was helpful!
The best answer would be A.
Because everyone know about the numbers and you can realized and find out the problem.
Hi Behrooz, thanks for your reply! However, without your email id, we won't be able to give you the prize and neither would your answer be counted as valid. So comment your email id down below now to get back in the contest!
Thank you, the session was amazing 🤩
I have been searching for days an easy explanation of Blockchain technology.
Thankyou
Hello thank you for watching our video .We are glad that we could help you in your learning !
You guys have elaborated it very nicely keep adding such content to your channel. Looking forward for more such videos
P. S:answer is hashing algorithm
Sure 😊
Fruitful video with time saving and better understanding! 🌺
Glad it was helpful!
I have a doubt regarding the block chain, that what is the relation between python and blockchain and if we use python to create a blockchain then which type of blockchain python create ?
Finally, I got this ! You made this easy thank you.
Glad it helped!
Public distributed ledger..
And thank for this video ☺
"Hi, you got the right answer. Kudos.
The contest is over and winners have been announced in our community and also mentioned in the top comment of the video as well. Thanks for your participation.
Explanation:
Answer: A (Public Distributed Ledger)
The concept of public distributed ledger ensures that everyone on the Blockchain network has a copy of the ledger. Thus, no single person can make changes in the ledger as everyone else will flag this as invalid.
"
Surely the answer is public Distributed Ledger.
Public distributed ledger
I'm quite new into the Blockchain technology, and I have a question on the part where you say "public distributed ledger", where all Phil's friends have a copy of the ledger and know how much bitcoin Phil has left (1 bitcoin left at minute 2:56).
In this case, does it mean people who have a common copy of your ledger will always know how much "money" (bitcoin for example) you have in your account?
Apologies if it is a dumb question, kinda new here 😅
The ledger (blocks) are encrypted, so no one can see how much Phil has in his account.
They would, but they would also have to know Phil's wallet address. Without out, they wouldn't know how much money he has. Thank you for watching!
You make complex topics sound easy. I've subscribed your channel on just watching 2 videos. Thanks a ton. Appreciate if you can make a video on Ripple
Thanks for the sub!
Success is about focusing Your energy on what creates results and using what you already know
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7minutes but it resumed hours of studies... thank you
Keep learning with us .Stay connected with our channel and team :) . Do subscribe the channel for more updates : )
Omg even a new born baby would understand this!!
I have a question
Blockchain developers should know the coding or no ? If they should know the coding, which coding is required ?
Vary interesting. I was talking to one of my freinds who is up alot on the tech of the future. I was asking him about Bitcoins and that's when he
also mention Blockchain but he had to get back to work so he did not have time to explain. Your video cover it vary well. Excellent video!
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Very interesting content, i would also be glad if anyone here can explain a few things for me, this is 2022 and I believe it's my time to invest and shine for a better future
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D; hash encryption
Hi Munim, thanks for your reply! However, without your email id, we won't be able to give you the prize and neither would your answer be counted as valid. So comment your email id down below now to get back in the contest!
Huge thank you for clearing that up for me.
Glad to help!
i went through many sites,vds but only you solved my answers . GREAT APPLAUSE TO U MAN :):):):):):)
Hi, Simplilearn provides online training across the world. We would be happy to help you regarding this. Please visit us at www.simplilearn.com and drop us a query and we will get back to you! Thanks!
A. public distributed ledger is the concept of blockchain.
"Hi, you got the right answer. Kudos.
The contest is over and winners have been announced in our community and also mentioned in the top comment of the video as well. Thanks for your participation.
Explanation:
Answer: A (Public Distributed Ledger)
The concept of public distributed ledger ensures that everyone on the Blockchain network has a copy of the ledger. Thus, no single person can make changes in the ledger as everyone else will flag this as invalid.
"
Perfect for a quick understanding of the concept before deep-diving into it. I was wondering in relation to the Walmart example if blockchain also describes the system of tracking damage when engaging in carsharing. Hereto, when you take pictures and note potential damage to the car before and after use, for the company to track when the damage to the car has occurred?
Thanks for watching our video and sharing your thoughts. Do subscribe to our channel and stay tuned for more. Cheers!
answer: a: Public distributed ledger, see why it uses lots of electricity since everyone has a copy. Thanks for the explanation.
"Hi, you got the right answer. Kudos.
The contest is over and winners have been announced in our community and also mentioned in the top comment of the video as well. Thanks for your participation.
Explanation:
Answer: A (Public Distributed Ledger)
The concept of public distributed ledger ensures that everyone on the Blockchain network has a copy of the ledger. Thus, no single person can make changes in the ledger as everyone else will flag this as invalid.
"
You saved me for my project thank you so much!
You're welcome!!
So what happens when the last bitcoin is issued to a miner for "proof of work". How will they get paid after that? Will they have to keep mining for free?
They'll be mining for a fee? A percentage of the transaction amount?
They'll mine for a fee from the community. The community would still own all the bitcoins produced until that moment. Thank you for watching!
Public Distributed Ledger and Encryption both are the answers I guess.
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Great video, very simple and easy ways to explain and understand blockchain. Thank you!!
Glad it was helpful!
Blockchain can be used in production areas like steel and power plants. It will help them in development and transition of built in quality product
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It's amazing...... Blockchain is very safe for transitions
True that!
I saw your video today and I am sad as I couldn't participate in the quiz ☹️
Hey Shabarish, don't worry! We have more quizzes coming soon!
Stay tuned by subscribing to our channel! :)
@@SimplilearnOfficial i have subscribed on the 1st day i saw this cryptocurrency video of yours
Crypto currency and blockchain should be teach in every schools in the world.
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Answer is hash encryption
I love this video and it really give me a good understanding on blockchain
"Hi, we are sorry to say that you got the wrong answer but in any case, we are glad seeing your participation in the contest.
The correct answer is
Answer: A(Public Distributed Ledger)
The concept of public distributed ledger ensures that everyone on the Blockchain network has a copy of the ledger. Thus, no single person can make changes in the ledger as everyone else will flag this as invalid. "
Hi! Thanks for the video. I think the answer isn't public distributed ledger, but instead it is proof of work or proof of stake depending on the type of coin/network being used. In a public distributed ledger, the data can actually be altered because of the rule of majority. So if a majority of the group of users decide to be fraudulent and make a even longer list of blocks in the blockchain, then the network will consider that to be correct as it deems that whetever is longer is correct. In this scenario, they can make changes to the data in the blocks. If the question was "what is the concept of blockchain that ensures data cannot be altered by any SINGLE user within the network, then the answer could be public distributed ledger since 1 persons work will not outwork the majority of the people who are validating blocks using proof of work/stake. Id say the closest answer is proof of work/stake as it is a way of validating blocks in the block chain. Once a block is validated, then it becomes permanent. Would you agree? Thanks!
"Hi, we are sorry to say that you got the wrong answer but in any case, we are glad seeing your participation in the contest.
The correct answer is
Answer: A(Public Distributed Ledger)
The concept of public distributed ledger ensures that everyone on the Blockchain network has a copy of the ledger. Thus, no single person can make changes in the ledger as everyone else will flag this as invalid. "
@@SimplilearnOfficial hi thanks for the response! Yes, no SINGLE person can make a difference. But the question stated that users cannot make a difference which is wrong cause they actually can if they gain majority of the users. If you put the words no single user can, then that would be correct. But that is not the case in the question so the closest answer is proof of work.
jack is balling
I just heard about block chain today and the explanation provided i the video is very helpful. the answer to the quiz is A..cheers
Glad it was helpful!
Just Loved the way you explained Brother.
Thanks a ton
The answer to the question is A.
Also, for an example, using the blockchain by mentioning the quality of a particular goods or service throughout the supply chain would help us immediately identify the origin of defect. As each part of the supply chain would have the knowledge of the quality of that particular goods or service at each stage.
Hi, you've got the correct answer! Option A!
The concept of public distributed ledger ensures that everyone on the blockchain network has a copy of the ledger. Thus, no single person can make changes in the ledger as everyone else will flag this as invalid. However, the competition period is now over. Thanks for participating and watching!
@@SimplilearnOfficial can blockchain be used in education?
I don't understand how that would work in real world unless each step in the supply chain does quality check which sounds like a lot of overhead. Besides, if product is found to be damaged in one of those steps while performing quality check, what's the point of letting it shipped all the way to the store let alone put it on the store shelf?