Topic: Somebody asked me what is blockchain & Relationship to cryptocurrencies? (Read 169 times)
October 09, 2018, 01:58:12 PM
Blockchain is an open system that records all transactions in crypto world and anyone can see them.
October 09, 2018, 12:03:51 PM
In simple terms, blockchain is the technology which makes cryptocurrencies safe and annonymous. It helps maintaining annonymity, but it is mostly used for keeping record of the online transactions..
October 09, 2018, 07:57:45 AM
i would say that it's a technology which stops control our money from banks.
October 09, 2018, 07:51:25 AM
say- Blockchain is a "double rainbow, spreading magical dust (coins)"- that should do the trick, create interest to explore more and people learn there is google invented that has all the answers about double rainbows and magical dust 
October 09, 2018, 07:24:51 AM
Sometimes our way of thinking or mindset is always different and this makes it difficult for us to interpret blockchain and crypto to others. I prefer to let it look for its meaning in google and if they are confused then I will help explain it.
October 09, 2018, 07:09:18 AM
I told him blockchain is like Microsoft windows. It is basically an operating system on which other applications run.
How can you explain it in less than 10 words?
How can you explain it in less than 10 words?
You asked for a 10 words explanation and yet you exceeded it. Someone who's willing to learn wont be asking for such brief explanation. The relationship of blockchain is cryptocurrencies is simple, it's the engine that runs the car. Projects run on the blockchain and they emit tokens to that serve as fuel to run the engine.
October 09, 2018, 07:03:47 AM
I told him blockchain is like Microsoft windows. It is basically an operating system on which other applications run.
How can you explain it in less than 10 words?
How can you explain it in less than 10 words?
Crypto currencies are digital currencies which using blockchain technology in their systems for safety about everything.
Blockchain is dough and crypto currencies are bread. We can say that easily.
October 09, 2018, 06:58:24 AM
I told him blockchain is like Microsoft windows. It is basically an operating system on which other applications run.
How can you explain it in less than 10 words?
Blockchain is a distributed ledger system that uses peer to peer transaction to create such a new ecosystem in the network that called blockchain. How can you explain it in less than 10 words?
Tell him it just like a network that has built by so many nodes. Basically, blockchain is so different with an operating system just like windows.
October 09, 2018, 06:41:44 AM
That is simple: blockchain is the underlying technology that most criptos use to ensure transaparency and trustless transactions. It short of the wheels for the vehicle.
October 09, 2018, 06:25:13 AM
Blockchain can be simply put as an intricated system created to circulate information that works accordingly with cryptocurrency and is the most vital part of it as it determines the efficiency of the system as a whole.
October 09, 2018, 06:07:35 AM
It is quite difficult to explain in less than 10 words. Never thought of answering such questions in such short word limit.
October 09, 2018, 03:10:12 AM
I told him blockchain is like Microsoft windows. It is basically an operating system on which other applications run.
How can you explain it in less than 10 words?
Blockchain is like a database where all the details of transactions were stored but we can't simply explain blockchain in 10 words so we need to explain them what it is to get clear odea about crypto currencies then only people can identify this is not a ponzi scheme. How can you explain it in less than 10 words?
October 09, 2018, 03:05:17 AM
A very simple way to explain, you can tell it is that Bitcoin creates a cryptocurrency, and that cryptocurrency creates a blockchain. It should be understandable.
October 09, 2018, 03:04:20 AM
Blockchain is the medium through which the exchange of cryptocurrencies happen. It's kind of life the bank of this currency.
October 09, 2018, 02:54:30 AM
Well,blockchain and cryptocurrency are interconnected.Bitcoin plays a very vital role as a virtual currency in crypto market. Hope it'll always be on top in coming years.
October 08, 2018, 04:18:25 PM
Tell that person to read the following book;
The Bitcoin Standard by Saifedean Ammous.
It's a great book to be able to understand the logic behind Bitcoin. It also teaches about the history of money, ancient medium of exchanges and financial stuff.
Overall a great book to begin with.
The Bitcoin Standard by Saifedean Ammous.
It's a great book to be able to understand the logic behind Bitcoin. It also teaches about the history of money, ancient medium of exchanges and financial stuff.
Overall a great book to begin with.
October 08, 2018, 03:52:33 PM
You could have simplified it by saying that blockchain is the basic technology on which the cryptocurrencies are based and blockchain is the next generation technology for the future, in coming years all the major digital and data related fields will be upgraded using blockchain technology.
October 07, 2018, 05:04:35 AM
I told him blockchain is like Microsoft windows. It is basically an operating system on which other applications run.
How can you explain it in less than 10 words?
How can you explain it in less than 10 words?
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