Vlog 161: Ask yourself not how Blockchain works but what you do with it. My attempt to explain blockchain for the beginner.

in #dtube3 years ago (edited)


I don't how a car works but I can think of plenty of ways a car can be useful.

This is the mindset of this post.


The simplest way I can explain what you can do with Blockchain technology is this:


"With Blockchain you can create trust between two or more parties over the internet without a third party."


Now, the first thing that people thought of to do with this amazing technology was to create a currency.

They named it Bitcoin.

For the first time in history, it was now possible to send a currency over the internet to anybody in the world without a third party (most likely a bank). Faster and cheaper than ever before and all trusted by Blockchain technology.

It was awesome.

But the idea of trust over distance has already far surpassed a currency.

The Steem blockchain for instance, where I am writing these words right now, creates that same trust between all of us without a third party.

When you read this post, you know it's me that wrote it. Yet there is no third party (like Facebook or Youtube) to guarantee that this is true.

The blockchain provides this trust and nobody owns it.

This is literary mind-blowing stuff.

Blockchain Technology will eliminate so many third parties and it's only just beginning.

I talk about it more in my vlog.



I am a witness with our developer group @blockbrothers for the Steem blockchain. If you want to support us I would appreciate your vote here.

We build Steemify a notification app for your Steemit account for iOS.

Get it Here:



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I do understand the concept to some degree. But my questions are; who for example owns steemit.com and who are the head decision makers who choose for example the design of the website, where all the components go? Who decides where the advertising money is spend and so on? How does a place like steemit become a reality without without a leader?

Steemit.com is just a frontend to visualize and interact with the steem blockchain. It's owned by Steem Inc. There are many different frontends build by others (busy.org, chainbb ect). The blockchain itself is owned by none. Hardforks (changes to the blockchain) come from Steem inc. but have to be approved by the witnesses who are voted in place by the community.

You have one talent - at least! - making complex things sound simple. Many of the people I talk about the blockchain with can not wrap their heads around the idea that no one owns it..

Earlier our own money was dependent upon the trust of a third part and with the introduction of blockchain and cryptocurrency the third party is eliminated and we are the owner and authority of our own money...no need to beg in front of banks for our own money...

Long live blockchain and cryptos...

Have a great day @exyle

That's an interesting analogy you've got right there. This makes it really easy for beginners to understand. Thus will allow them to realize that not all altcoins are bitcoin rip offs. From there you can decide to dig deeper on how blockchain works or how it can be applied in other fields. I wish I knew that when I started backing in March.

Excellent post, well you really describe gracefully the benefits of blockchain technology, yes we all want freedom we are born free and this is our right to live free as well why we deposit and sent our hard earned money to those banks and then they start putting hidden charges on it and also start controlling our money and we are no longer in a condition of use it freely, we have a far better option available now to save and sent our money in shape of blockchain and especially through steem blockchain and by doing this we also have a full control in our funds no middle man use our funds for his own sake, the future of blockchain technology is so bright and we surely see more developments and growth in blockchain with the passage of time, thanks for sharing your nice thoughts with us, Stay awesome.

When you explain and you say the word bitcoin then attention is gone... a lot of people are indoctrinated by the media about it.... terrible...

It's a shame. Nowadays I don't watch much news anymore. I like to believe it enhanced my life.

Wow very interesting post friend.You have beautifuly explain it how block chain system works without the help of third party. Thanks for sharing such a valuable lesson. Have a good day friend happy steeming.

To the point, this is the best explanation of the technology that I heard, my friend and you said in simple words "There is no third party," wow! You are right, everything is simple here, but as you know, brilliant, everything is simple and I completely agree with you! Thank you @exyle and keep us informed.

thank you.

Being new to Steem I will admit to struggling with understanding what it is and how it can benefit me - thank you for clearing up some of my questions and making things easier to understand. I still have a million more questions but you have helped me cross off at least 4 !! Thank you

@exyle,
"With Blockchain you can create trust between two or more parties over the internet without a third party."
When people ask this from me I was stucked before! But not again! I got a nice description simply!
As you said, I don't know how a car made, but I know it's useful :D That's great too! Thanks for sharing this nice simple meaning about Block Chain with us!

Cheers~

With your title you gave me an awesome idea for a meme :) Reading all this beginer stuff helps me understand blockchain better and in turn will be able to better explain it.

Lol, I didn't realise the embedded thumbnail was the dtube video at first. I was like, where is it!?

Totally agree, is good to explain things simply. Although, I could do with some convincing on the transaction thing. Quick. Send me 10,000 SBDs and I will see if I can tell it's really from you...

:0D

Lol, cheeky.

I have never read it more simply stated. Thanks for all of your work to increase our understanding. Blockchain is cutting out the middle man.

@exyle keep sharing Like this post. I like It.

In marketing terms this is called "Sell the sizzles not the steak"

That one is new to me, cool!

Exactly. Reminds me of something i read about gold mining; you don't have to actually mine the gold to benefit from the boom, you might make the pick axe--or invest in the company that makes the pick axe! Which is even way more awesome if all you need to invest is just your time and brain! + we have the witnesses to thank for helping us take the power into our own hands. More Steem for your engines!

Best explanation I have come across sofar! Will be sharing this "mindset" with people around me for sure, why we have this big need to understand everything is beyond me anyway, like you said, we all drive our cars, but how many people know the mechanics of it inside out? Thank you for pointing this out this way 😉

Thank you.

I agree you don't have to know how block chain technology works to use it; the same is true for fiat currency, most people don't know how a printing press works either, but most people accept cash without even thinking about it.

World is spoilt with many middle man acting on it, increased level of corruption as the ppl on power tends to award project or ownership to these middle man who is willing to take extra care on the ppl who is on power..

Blockchain interestingly being adopted on government level, amidst the conundrum that would be faced by government on act of adoption.. the future for ppl upon government adoption on full is mind blowing..

just think about voting which is un-tamperable, which eliminates middle men counting votes which can be very questionable on act of trust, this unleashed true party comes to power to do only good things to ppl, thinking they cant mess around for next election since voting system is running on blockchain.. :) this is still shallow on blockchain application, but enough to do massive betterment for the society overall.. good thoughtful post.. thanks @exyle

That was a great lecture Mark, I really enjoyed it and, I completely understood what you were saying. I hope a lot of newcomers will listen to your vlog and will learn from it. Enjoy the company of Sam this afternoon and I hope he will sleep well tonight!!

Thank you, glad you liked it!

You at least seem to be spending a decent amount of time discussing things that aren't JUST "how can i play this situation to get rich", which is good to see. I get extremely frustrated seeing the amount of total processing power and intelligence, being "Invested" in "NOTHING MORE" than trying to take an amazing technology, and to use it to pull out as much profit as can be taken, from people with less understanding.

If there was any invention not originally designed to foment the generation of massive profits for some, one would think it would be the blockchain,

but in reality, so far, DAMN, trillions of processing cycles an hour are being spent on "NOTHING".

As far as i can tell in regards to blockchain, at present, it is the worlds MOST EXPENSIVE and ENERGY WASTEFUL accounting ledger in HUMAN HISTORY.

The blockchain tech IS great, but i can't wait until we begin to get to a point when this tech actually makes a DIFFERENCE, instead of sucking up millions of hours of genius a day, seeing people try to play other people.

I think you will like the Steem blockchain and DPOS. Beats POW and it's very efficient energy wise. We run our witness on a 'normal' server and 1 for backup.

I'm a fan of it from what i know. Biggest problem right now is the fact that i absolutely CANNOT create an incredibly high quality overall mountain of content, and THEN bring people who are of the right mind type, to spend time going through it, voting for what they really like.

If i do that, i get NOTHING. [i'm not here for the money, but it seems still ridiculously imbalanced, and i see shit tons of votes being put up for videos, when there's no way that the voters could have even watched more than moments of the video]

I would LOVE to talk about what it is that you "Know" and "Think" of the entire cryptosystem and cryptocrazy in general. I'm infinitely more ignorant than you, but i think conversations between disparate viewpoints can really bring up the most important stuff.

Thanks for responding. Is there a way to get notifications for replies? I always have to go back and scroll through "replies".

ALX!

I totally agree with you @exyle that blockchain creates trust. You can send crytocurrency to me, I can send it to you as well and to think that we dont't know each other physically. And we can send crypto to anywhere in the world WITHOUT any 3rd party is simply amazing. Mind boggling it is. This is one of the best thing that happen this century!

Thank you for sharing this. Resteemed!

The tech is indeed amazing! I love it.

Great attempt of explaining nicely said the things are really interesting what we can do is up to us and at what potential we are trying to use that

Thanks Mark, this will sure help us to tell and convince others about the power and benefits from a blockchain.
We all tried already many times, but in “Jip en Janneke” language it is much easier.
So Thanks again for clear and understandable explanation.

Thank you :)

nice post informative thanks for share.

I believe that the potential use cases of Blockchain are yet to be determine.

interesting view !

Good narrative and comparison, but would love to have a deeper understanding as a beginner. Understand the trust that under pins the BCT, but struggling to understand how to really get engaged with it. Thanks @exyle for your post.

So true. Many people get fixed on Bitcoin but it is just a starting point.

@exyle It is so exciting and it's only going to get more exciting. We are here so early and there is a lot more to go still.

With your title you gave me a marvelous thought for a meme :) Reading so much beginer stuff causes me comprehend blockchain better and thus will have the capacity to better clarify it.

Hola amigo tiene toda la razon el blockchain es el arbol de vida de las criptomonedas, en el nacen crecen y se desarrollan es tan asombroso que fueron genios en todo el sentido de la palabra sus creadores como cifrar dinero atravez de codigos tan complejos y que no representan solo numeros son como una identidad para cada usuario yo amo mi billetera de bitcoin como mi identidad.

you are right, Blockchain is the future - where we can be truly free

The trust keeps devolving along the time and that's great to know about this system nice video bro

Nice post. I've been commenting for some time now, and it seems I've stopped getting an upvote from you, and I don't really know why.

But I sure enjoyed this particular post. I know that all the data we input here on steemit is stored on the blockchain, but I did not know how it was done.
Thanks to your post, I now know why it's being used, because it creates trust between two parties who necessarily don't see each other.
But I'll like to know who created blockchain?

It's a good idea to mention your mindset when we engage in discussions around the blockchain with our family, friends and acquaintances - especially those who are mildly curious, somewhat overwhelmed, cautiously sceptical - often all at the same time.

I'm sure the blockchain will transform our lives at an increasing rate in the very near future!

It is always important to learn but it is more important to make a profit and earn.

This a valuable content about block-chain technology.I have learned more and more from your content.I want to must share always this types of post.I am waiting for your next post.thanks for sharing
upvoted

You are awesome Your post is very important for us. You can learn new things every day from your writing. Go ahead. thanks for sharing @exyle

@exyle BEST POINT I'VE READ ALL MONTH!!!
Everybody is being skeptic about the blockchain because they don't understand how it works or because they can't comprehend it. Yet, none of them know how their cellphones operate! The vast majority are far from capable of describing how it's possible to communicate with another person remotely, through a device. Or even how their computer works. Guess what? It's not necessary!

#Resteemed!

Highest Regards
@lordneroo

The beginning is that great so how cool will be the journey amazing to see the growth it has over the year a truly customer friendly experience it has provided

true words, thanks for sharing

From the post you made, I learned or learned something new that I did not know before. The information that you have on this post is very useful for many of us. So I hope your post will be very helpful for us.

Good I like, I have got a lot of information

You've explained it quite well. "If you can't explain it simple enough, you haven't understand it well enough."

Ya its good technology and it came into limelight in these couple of months due to volatility of Bitcoin. But still i think the benefits for the end user are very less and its to risky. What do you think?

Thanks mate for the info

Amazing post bro.. i liked it.
Keep such posting at steemit.
And progress ...
Thanks 🍇👏🐦

I always had one question in my mind and let me ask it here. When we transfer crypto from one account to another, it involves exchanges like bittrex and they also charge if you want to transfer. Yesterday, I transferred some BTC to my friend and they charged 0.005 withdrawl charges. Not quite getting the concept how it’s different from banks as they too charge for transactions.

yeah, This is literary mind-blowing stuff..

we have the next level thing with us its upto us how we take the benefits of this system and use it wisely :)

This is really great and mind blowing @exyle

so simply and easily described the things no more need to check the proper definition you just know how things works that what important in today's time

We don't have to need state authority to provide reliability of our sensitive data like identity or property deeds in my opinion.

I didn't get it. Why shouldn't we go for how block chain works?? :)

we can become a better journalist with Blockchain it's unbelievable limit, it gives a chance to open up to an unknown world

Thank you @exyle, we was needed this explanation of how technology works in simple words, is perfect

it doesn't exist as real but still we trust that's the faith and trust no one else could find to have in any system that is why its such a success

hey friend @exyle ,,,,,,,,
you have collected,presented some awesome and very useful information in block-chain statement... i am very happy on this article.

agreed with your point. I also fully not understand the process but managing with what I know and it is really not necessary to know all the things but we should know how the market behaves and make decisions based on what really happens.
Nice blog @exyle

Hey @exyle

Just like Paypal and other payment system Blockchain currencies are changing the world. Orthodox people don't like change and they don't accept changes they like old style methodologies and they are firm on it.

I believe in blockchain technology and I hope it will be widely accepted and adopted soon.

even when we don't use it much we can use if daily life things we do on the internet block chain is really coming alive in our lifes in daily processes good video it was good to know some great things from you

this is easier explained then all the other stuff I found during my search :)

good job, thanks for good idea.

this stuff is giving hard times to those who never trusted in the systems like banks and other people who just want to loot everyone with their moves but the blockchain eradicate all of them

😍A very informative post. Great job. Keep it up! 😍
OpenMusic Steemit Kiss.gif

Great explanation!

I'm so over the bullshit in the world I don't even trip. Just find the hottest shit on the net, invest in it, and learn about it as time goes on. Could be a weakness. But then again, I still don't know exactly how the internet or electricity works so it's all fair game!!

@exyle I just love your vloge

The car example was just dude-perfect! I likes!

crypto is the new generation currency and it will bend every govt and banks to fall in line......look at the price of BTC ...it says much more beyond its value....

Thank you for explaining in a nice way about blockchain and cryptocurrency

The Most Important Thing Of Blockchain Is De-centralization

It looks great .. but I want to know your opinion of it more

That's a great story. I really enjoy your post .

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