[Music] hello everyone today I will explain what blockchain is in short it's a secure transparent and decentralized data storage system what imagine you have a chain of blocks each block is a cube of information for example the first Cube contains the date the second one the amount and the third one the recipient but what makes the machine each block contains not only data but also a unique code called the cryptographic hash it also includes the hash of the previous block this is like an invisible string that connects the blocks making the chain continuous and secure
you can think of a hash as a digital fingerprint therefore if someone tries to change the information in one block the hash will change Breaking the Chain this is called cryptographic protection blockchain is decentralized this means it is stored in multiple computers around the world these computers are called nodes if someone wants to add a new block most of the nodes must agree that the data is valid this is called consensus several methods are used to achieve consensus in blockchain one of the most popular is called proof of work noes solve complex mathematical problems and
the one who solves it first adds the new block to the chain this ensures that the DAT is verified and protected this allows for strong significant information such as wallet balances in an immutable and tamperproof manner due to the Network's decentralization that's why blockchain is used for cryptocurrencies contracts and much more but I'll talk about that later for now subscribe and share this video with your friends bye
