Blockchain explained easily . Blockchain Turorials by Fabian Schuck

Blockchain made easy by Fabian Schuck
Blockchain is a concept that was developed as the basis for cryptocurrencies such as Bitcoin, but it also has applications in many other areas.

Imagine you have a digital database in which you can store information. Normally, this database is controlled and managed by a central authority, such as a bank or government. With blockchain, however, there is no central authority. Instead, the database is distributed across many computers or 'nodes' in a network.

The blockchain consists of a chain of blocks, and each block contains a list of transactions or other information. Each block is provided with a unique code, the so-called hash. The hash of the current block also contains the hash of the previous block, creating a chain of blocks. This is the reason why it is called a "blockchain".

Now comes the interesting part: if someone tries to change data in a block, the hash would change and the chaining of the blocks would be disrupted. This is the reason why the blockchain is considered secure and tamper-proof. Every node in the network constantly checks the integrity of the blockchain and votes on changes or additions to the database.

Another important feature of blockchain is its decentralization. As the database is distributed across many nodes, all participants in the network have a copy of the blockchain. This means that control over the data is not exercised by a central authority, but by the community of participants.

The blockchain also offers transparency, as all transactions or data in the blockchain are visible to all participants. At the same time, however, it also offers anonymity, as transactions do not necessarily have to be linked to real identities.

Blockchain technology has the potential to revolutionize many areas, including finance, supply chains, healthcare and more. It enables secure and direct transactions between parties without intermediaries.

This is a simplified explanation of blockchain for beginners. There are of course many more details and complex aspects, but I hope this introduction has given you a good overview!