BLOCKCHAIN FOR DUMMIES - what would be your explanation? [question from my recent interview]steemCreated with Sketch.

in Project HOPE4 months ago (edited)

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INTRODUCTION

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Just a few days ago, I was contacted by a representative of a local company (within the blockchain industry) and they had offered me an opportunity to work for them. I had already passed two separate 1 hour long interviews - ending up with very mixed feelings. Right now, my strong conclusion is that I'm not the right person for the offered job position.

Regardless, whether I would end up working with that particular company or not - today, I would like to share with you some of that experience. I was asked some questions which made me feel quite puzzled and unprepared. Truth is, I'm still not sure how to answer some of those questions, however, the aim of this post is to ask you, dear readers, to help me out.

Perhaps someone here could steer me in right direction and help me find a way to reply one simple question:

HOW WOULD YOU EXPLAIN BLOCKCHAIN TO NEWBIE

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How would you explain what blockchain is about to someone who doesn't know anything about blockchain?

I truly didn't even know where to begin. Part of me felt like I was being asked to explain what is the "Internet" to someone who has never used it before. At that very moment I realized that for over the past 2 years, I've only been dealing with people who are familiar with blockchain technology. I have stopped talking about it with those who are not familiar with the topic and do not understand the basics.

My TARGETED AUDIENCE has been very different. Educating people with ZERO knowledge has never been my goal. And at that very moment when I've heard this question - I ended up feeling so clueless and unprepared. Not knowing where to start and where to end. Unsure if it is even possible to achieve such a task within just a couple of minutes.

SHARE YOUR THOUGHTS WITH ME

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Please share your thoughts with me. How would you explain "blockchain in 5 minutes" to someone who doesn't know anything about it? What is this technology about? `

IMPORTANT: Please do that using YOUR OWN WORDS.

WITHOUT using google and looking at youtube to see how other people did it. Just imagine going through an interview and being asked a similar question. What would you say, assuming that you've managed to attract someone's attention for just a couple of minutes. And every minute counts :)

I WILL CONTACT AUTHORS OF BEST ENTRIES

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I will contact the authors of most valuable comments and offer creating a publication on this topic - which will be then strongly upvoted with my personal account, project.hope as well as on our curation trail.

Yours, Piotr
@project.hope founder

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Visit our partner www.steemscan.com/convert if you're looking for easy and fast way of converting STEEM to other major cryptocurrencies.

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Well, getting a perfect definition of the blockchain is a very tedious task. Blockchain has evolved so much in recent days and has shifted so much from the very basic concept. But a newbie just need a basic description to get started.

Now take for instance you are moving to new location and you'll need to sort your belongings into separate boxes. For organizational purposes, the boxes are filled and arranged 'as they come'. Now, to make sure you don't lose any of your important belongings, these boxes are tied to each other in an orderly form. Now, your boxes are the blocks, the material used to tie them to each other is the the chain. This is a very basic representation of the blockchain.

According to your arrangement of these boxed and how you tied them to each other, you'll need to repeat the whole arrangement before you could change the position of any the boxes, and of course, each box is sealed so it is almost impossible to change anything in your arrangement. When you get a new box filled, it is attached to your arrangement. This is how the blockchain works.

In the blockchain, each block is container of data, these data could be transactions, state changes, mining details e.t.c (just as you can pack anything into your box in the example above). Each block is connected to the subsequent block via hexadecimal identification stamps, this is the chain.

 4 months ago 

Hi @joelagbo

I would like to say: BIG THX for taking the time to read my post and for your comment. I trully appreciate it.

Stay safe buddy
Cheers, Piotr

Such a nice question I must say. I just hope my answer will be able to help a little.

I have met people who have zero knowledge about Blockchain and with my explanation many understand what a blockchain is.

What is Blockchain

In a bit to explain it to somebody who has zero knowledge about cryptocurrency and blockchain, I run faster to using the Bank as a case study. Now, this is how I explained it to them.

I go ahead to explain that Blockchain is just like your local bank. Imaging Blockchain as the structures, by structures, I mean the building where different bank related activities is been carried out. All activities in the bank is been stored in their database this same thing is applied to Blockchain. In Blockchain all your activities is been recorded in their database. Bank is the opposite of Blockchain. By opposite, I mean that the Bank is a physical structure while Blockchain is a coded structure that is build online i.e it is not a physical structure.

Just like in a bank, you can swap your local currency to any other currency, same thing can be done using the blockchain. Your different currency can be swap to any token.

Just like you have money like dollar, naira, pounds and so many currency in the bank, you have cryptocurrency in blockchain. The Cryptocurtency ranges from different money to the other. You have popular cryptocurrency like Bitcoin, Ethereum, hive, steem, litecoin, Uniswap, Eos, etc all in the blockchain, samething like having Dollar, naira, pounds etc

Now, how is this Blockchain better than our local. In blockchain, you can buy any Cryptocurrency without needing to leave the comfort of your home. You can easily sent token and receive token with ease without visiting your local bank. If the money hasn't delivered in your list of asset, you can easily check the transaction to ascertain if the person send it or not. But in case of bank, you will need to visit bank or call their customer care line to help you check the transaction status.

In blockchain, you can trade your token for additional gains, unlike bank. Although their is also the negative side. You have to have trading knowledge. While using the blockchain, just buying a coin and holding it can see you making good reward without you even engaging in any activities. This happens if the coin rises in value. You can still make loss just holding a coin if it drops in value too. This can't be done in banks except maybe you open a fixed deposit account and freezes your money for a particular time frame. You don't need to freeze your token before you can make good gain in blockchain.

With this few point of mine, I think I am able to explain what blockchain is in a lane terms.

@tfame3865 How did you changed the color to red? :O I'm amazed. xD

If you can chat me on discord, I will show you.

Username

Tfame3865#5186

 4 months ago 

I also want to know! :D

 4 months ago 

Amazing comment @tfame3865
Thank you for taking the time to share your view with me

Greetings dear friend @crypto.piotr
What a tricky situation! It is so simple but NOT easy question.
And when faced with a query like this, I think it is best to focus only on the main aspects and ignore small details.
Even if your explanation is not complete, I think it is better than drowning the newbie recipient with so many details that will eventually obscure the crux of the subject.

Let me try:
Imagine a room censored by cameras from every direction and these cameras are broadcasting live to all parts of the world.
You have in this room well-locked boxes (block) made of transparent glass so that anyone anywhere in the world can monitor the contents of these boxes without accessing them.
These boxes are linked together (chain)and each of them has an amount of money.
Each box has two types of keys: the private key and the public key, and each has its own use.

Let me start with the private key:
The private key is the ONLY way that you can own one of these boxes and can access its contents. Anyone who has a copy of the private key to your box can control the money so you MUST be careful with it.
If you want to withdraw your money or transfer it to another box you will need your private key to confirm the withdrawing or transferring process.

Public key:
Assuming that you own one of these boxes (box A) and want to transfer money to another box (box B ), then you need the public key of box B to make that transaction, and after confirming, the money will be transferred from (box A) to (box B) through the links between the boxes, and given that there are cameras in the room anyone can monitor the transfer process.

Now, we have miners:
Think of them as the ones who are responsible for getting all transactions between boxes executed. In exchange for doing so, they take a fee from each transaction process.

Certainly, This approach does NOT cover all the aspects of Blockchain technology, but I think it could introduce the basic description to someone with zero knowledge to get started.

Thank you for sharing your experience :))

 4 months ago 

Wow. I absolutely appreciate this awesome feedback @qsyal

Just as in the beginning money were coins based on metals, especially silver and gold, issued by monarchies and ancient empires, it evolved into paper money, the current banknotes issued by governments with their constitutions, each government has local laws on how it should print its Paper money and the global market dictate the prices of currencies, the most important being the dollar, in this same sense the natural evolution of this system is the blockchain where the block code is the technology that supports the issuance of cryptocurrencies being the most important bitcoin, but taking into account that their prices are subject to the global economic market.

So blockchain technology works in a very safe way, so that no one can alter it, in underdeveloped countries governments print paper money without control destroying the economy, in the blockchain something like that cannot happen because it is a large accounting book that is stored in All the computers that participated in that process, you can put your computer to order and collaborate in the registration process, that is why blockchain technology is infallible and ultra-secure, if you transfer money to another wallet that record is stored in all computers and even if there is a catastrophe that damages many computers, the process is recorded in the "blocks" giving truthfulness and maintaining balance in crypto assets that, as they are intangible, generate many doubts in their users.

 4 months ago 

Amazing comment @ramsesuchiha
Thank you for taking the time to share your thought with me

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Hey @crypto.piotr, they asked you the million dollar question!
If it were easy to make it clear to those who know nothing about the functioning of the blockchain today we would have had a mass diffusion of everything that revolves around this technology such as crypto currencies.

However, I understand your frustration because that's what I feel when I try to explain blockchain to my 70-year-old father.
I usually make a comparison with our bureaucracy, we Italians are famous for this.
So I tell my dad that our data is kept in public offices and we need an intermediary to print our documents for us.
Instead, with the blockchain we can access our documents alone, because our data is kept in a secure database shared with all the others who, like us, have entered their data, and this is precisely the guarantee that our data cannot be modified without our permission because we all watch over everyone's data.
So each of us can manage their data without it being kept in a central archive.

Another example is the food supply chain because my father is greedy so I explain to him that every step of the food, from cultivation to harvesting and finally to the shelf, through the blockchain is all verifiable by everyone, not only by professionals but also by us. consumer citizens.
Traceability is guaranteed.
While with the old systems the data can be forged, perhaps altering a product expiration date, because that type of database can be overwritten.
On the other hand, blockchain-based systems guarantee the truthfulness of the information because once entered it can no longer be changed.
Then, when I have to explain to my father that everything can be controlled with an app and a QR code, I start having difficulties because he doesn't have a good relationship with his mobile.
I hope I was helpful, but simpler than that I just can't find other words.

 4 months ago 

Amazing comment @mikitaly
Thank you for taking the time to share your thought with me

In theory, the Blockchain is a man in the middle between buyer and seller and acts as a kind of bank. We all know banks and the money we leave with them when we make transactions and leave money with the bank and they become "too big to fail". To get around this problem the block chain was introduced, which works with a simple ledger. In this ledger all transactions like Bitcoin or other (crypto) currencies are recorded. The peculiarity of this ledger is, that every transaction that is recorded in the ledger causes a "mathematical problem". The "mathematical problem" can then be solved by one of the users in the block chain and records it in his ledger, whereby all other users of the block chain automatically copy the solution of the "mathematical problem". Each individual transaction (block entry) is thus recorded in the ledger and so that they are correctly linked together to form a "chain". This chain is mathematically balanced, so that fraud or incorrect postings are virtually impossible, because all other users of the block chain follow the invoice. In the future the length of the block chain can become problematic and that there are different block chains, which all have to be supplied with power. By the way, in my opinion the Blockchain has the potential to break for example large monopolies of search engines, because then the many individual users could be the search engine.
The MIT has a cool site to try and to see how it works!
The practise how the blockchain works is a little bit more complicated and in my opinion to exaggerated for a five minute explanation.

Sincerly
litshit69

 4 months ago 

Amazing comment @litshit69
Thank you for taking the time to share your thought with me

Greetings dear friend @crypto.piotr.

Extraordinary content that shares with us on this occasion, actually a difficult task as being able to transmit in a few minutes the information of the blockchain with a person who does not have any information about it is not easy, but however, it would be important to start transmitting some aspects in a general way and that can raise the attention of that person and perhaps motivate it to seek more information.

For example, that block chain technology will be the payment transaction system of the future through digital currencies called crypto-currencies (somewhat similar to payments by transfers between banks), however, this technology is independent of the banks' platforms and their charges for commissions and quantity restrictions, i.e. the relationship is entirely person-to-person.

And that the above is one of the most remarkable advantages of this type of technology and also provides great support to our cryptographic investments (or digital money) due to its great shielding system for being a series of chains or computer equipment that support and protect our investment.

Thank you leader for allowing us to be part of this extraordinary debate, and that sometimes we believe that the transference of any type of learning is trivial, but nevertheless, it is not, here a sample of it.

 4 months ago 

Amazing comment @rbalzan79
Thank you for taking the time to share your thought with me

Are you asked to lighten up those,no matter their age, about the blockchain, how it is built or it's possibility?

"What is the blockchain," my child asked me only a few days ago.

To me it's not different from the internet but just the way it is made (built) is.
Little 'blocks', build by computers, make a chain where information can be stored and found with a bit extra... cryptocureencies (alt) couns can be mined.

"Those computers always run?"

Most of them do

"What if 50% is shut down?"

Everything slows down.

To be honest I doubt if it is interesting to know what exactly it is, how it is build since this isn't the most interesting part for those who literally knownothing. What I do know is those who tried to explain it use mainly words insiders know about what they mean.

A question like this I would return with a question "What exactly do you like to know? How it's build? What the options are or better: What exactly do the people I need to inform like to know?"

Many can ask the same question but it doesn't mean they are interested in hearing the same answer.

 4 months ago 

Wow. I absolutely appreciate this awesome feedback @wakeupkitty.pal

Hey there, what a coincidence, I was helping a friend with her interview at a blockchain company. My explanation of target crash course for her was two fold, the why and the what

The why :
All disruptive tech revolves around cutting out the middle man. If you can cut them out, you can make a pretty good business out of it. That's what bitcoin is, cutting out the middle man which in this case, is the bank. That's what some other projects are built around too. In a sense, steemit is Facebook without Facebook Inc if that makes any sense.

As for the what, blockchain essentially a record keeping tool, a ledger. But it's magical record keeping tool of who spends what. This record is also distributed over the internet and it can't be shut down unless you kill the internet?

Then we went into how this can be applied into local SMEs but that's a story for another time. Hope that helps!

 4 months ago 

Love your explanation @alvinauh :)

Big thx for taking the time to drop this comment

A chain that is developed in a relationship between citizens by providing equal opportunities for everyone to participate in self-development and community. This can be done by making an agreement using a blockchain that is transparent, scalable and valid.
I think it is necessary to inform about what why and how blockchain is. I have write about analogy about blockchain as a villager.
Here my post. https://steemit.com/hive-175254/@rokhani/explain-about-blockchain-to-the-ordinary-person-a-response-post-of-crypto-piotr

 4 months ago 

Thank you for dropping by and for this awesome comment @rokhani

I think blockchain is best explained as archive room full of binders... Each binder might contain special index papers that are used as synchronization points, and the remaining papers are blocks. One can print only certain amount of text in one paper and that is the limit of transactions that can be added to a block in blockchain... Because each binder can hold only certain amount of papers, one can think that each binder is amount of blocks that the machine can process before moving the blocks to archive. First paper in each binder has information about the previous binder. More than one binder can refer to same "previous" binder, these are called alternate chains. Alternate chain can be as short as one block, but can also be as long as one binder.

Synchronization points are used in some cryptocurrencies to store metadata about blockchain that does span multiple blocks like fork heights.

Fork height is place in the binder where there is more than one binder to continue, there is almost always one preferred route to continue and the remaining routes are alternate chains.

Most blockchains can be only traversed from highest numbered block down to lowest numbered block as there is no pointer from one binder to next binder with block having next consecutive number, only the other way around.

For a daemon to be able to sync from first block to most recent block, it needs to know something about the synchronization points. First thing it does ask from other daemon is the block at synchronization point, and then the information about the very first block. All daemons have hardcoded information about the very first block and that can be compared.

Every time daemon starts syncing after the previous synchronization point, it compares the information of current synchronization point and the next synchronization point, if the current doesn't match, the chain has split and daemon needs to download the blocks one by one and figure out first block that is different. If the next synchronization point has inconsistencies, the daemon compares the version number to see if an upgrade is required.

Between two synchronization points, blocks can be downloaded in random order, but they can be only verified if all previous blocks have already been downloaded.

Each chain has counter that counts how much effort was put on the chain and the chain that has highest effort (also called cumulative difficulty) will become primary chain and the remaining ones will be alternate chains.

Any chain where the effort counter is invalid or one of the blocks can't be verified, is either truncated or discarded.

 4 months ago 

Love your explanation @mtl1979 :)

Big thx for taking the time to drop this comment

As a coin developer I have studied a lot about internals of the synchronization process... Proof-of-Stake and Proof-of-Work coins synchronize little differently, but the main idea is same.

When I was writing code for my own coin, the biggest surprise was that everything is done backwards... There was no functions to get information about first block of chain leaf except the genesis block, which is actually stored separately.

One of the first things I did do was add functions to get the first block of chain leaf. First block was actually easy to fetch as the daemon stores them in numerical order within each chain leaf.

Hi @crypto.piotr friend, this is a very interesting topic.

The first thing I can say is that I entered the world of the blockchain without knowing "anything", in fact I still cannot affirm that "I am inside", however during my explorations I found a lot of confusing information, I had no one around to ask, and When I have asked a question, I always get confused or disoriented answers.

Finally, for me to explain to someone about the blockchain, first I make sure: 1) how willing that person is to learn; 2) why do you want to know; 3) what use will that information give you or what is your main objective with this information; with this I make sure that I am guiding my possible answer correctly.

Personally, it took me a while to understand the analogy and meaning of the term "blockchain", because only what is related to cryptoactives and in reality it is not, blockchains can be applied to a large number of different types of records, for example, lately In the educational area I have been participating in professional update courses in an academic platform based on blockchain, where there is no cryptoactive involved, and with this recent example I changed my personal perspective when I realized that the blockchain system allows somehow to make a record of activities and information, stores it, can make them a verification or check, and can even track data.

And I saw this personally on the educational platform that I mentioned earlier.

This is my point of view.

See you..!

 4 months ago 

Love your explanation @tocho2 :)

Big thx for taking the time to drop this comment

ps. do you use Discord? I would like to invite you to our Project.hope community discord server:
https://discord.gg/uWMJTaW

Hi @crypto.piotr friend, Thanks for the invitation, I hope to make time in my agenda to start publishing with you, I think Hope is a great community of thinkers...!

See you soon..!

 4 months ago 

Hope to see you on our discord @tocho2 :)

I think I would really like to have you around within our community. And I'm quite sure you would feel very welcome here.

Yours, Piotr

Hi @crypto.piotr, we have connected in discord.
And I'm thinking to post my intro post on Hope this week.

Thanks a lot for your kind invitation

 3 months ago 

And did you manage to post that intro @tocho2? :)

Hello @crypto.piotr, I plan to do my intro post this week, but for now I have participated in a contest here in Hope, this was my participation: https://steemit.com/hive-175254/@tocho2/project-hope-competition-about-the-technology-by-tocho2

Hello friend @crypto.piotr, although it can be explained in a theoretical way the meaning of blockchain, something that helps a lot is to show it in a more practical way with real examples of how it is used, in my case when I heard for the first time the word blockchain, when I asked, the answer I was given was the following, it is a chain of blocks that stores data or information in a unique way; it is never enough to continue investigating, asking and I came across clear examples as in the case of a lawyer who used it to register or store the signatures in the chain of blocks.

The blockchain stores data to prevent them from being falsified or duplicated, they are grouped in a unique way avoiding repetition, personally it was easier because I was doing transactions with bitcoin, but for those who do not know it is good to take it to physical or tangible examples as it is the case of the lawyer who records the signatures to identify them quickly and with the assurance that it is the correct one. I hope that this will be adopted by the systems of the world as banks or in documentation processes.

 4 months ago 

Thank you for dropping by and for this comment @tanhunter254

ps. do you use Discord by any chance?

Hello thank you for reading my comment, if i have discord tanhunter254#6172

The question is how will you explain blockchain technology to a newbie and I see the challenge too but I'll go like this...

Blockchain is basically a technology that allows peer to peer transactions (and these transactions can be anything from paying for services to certifying homeownership, to verifying credit scores) without the need for any 3rd party authenticator. For example, in paying for services with your credit card, you need the banks as 3rd party authenticators, for certifying homeownership, you need lawyers and county officials where your home resides as 3rd party authenticators and for verifying credit scores, you obviously need the credit scoring companies as 3rd party authenticators. Each of these authenticators demand fees, making this form of transacting quite expensive (who do you think pays for the bank's massive buildings and extravagant salaries and bonuses?)

Of course, the blockchain does require authentication but the difference with the blockchain authentication is that it is done by the crowd of blockchain users whose only incentive is to protect their own assets on the blockchain network (not any payment for being external authenticators). This has 2 profound implications...

  1. Using the blockchain for transactions will be significantly cheaper than via traditional methods and

  2. Since incentives for authentication is aligned with one's interest or assets, there will be very little need for fraud or unethical behavior on the blockchain network like we've seen with banks selling junk assets to individuals just to increase their own bottom-line.

 4 months ago 

Love your explanation @aiplusfinance :)

Big thx for taking the time to drop this comment

ps. do you use Discord? I've send you few messages within past weeks and you didn't reply to any of them :(

Hello @crypto.piotr
As usual you bring us a topic in which there will surely be a great participation, and surely you will be able to get some good ideas to face that question apparently always, but that for many is often difficult to understand.
Particularly I assume that any learning process is made easier if it starts from the knowledge that the person already has.
In this case, everyone knows what the Internet is, we could start from there.
And making an analogy, as for example, with the operation of the bank, considering that the data that are handled are of great importance.
Then, my approach for someone to understand what the Blockchain is would be to mention the above, while at the same time I explain the following as points of difference:

A bank handles the information in a main computer, which means that the information is centralized in one place. This means that it can be easily hacked, and that the data can also be manipulated, since it is only in one place.

Now, in the case of the Blockchain, this information is registered not in one but in several computers at the same time, in different parts of the world, which makes it practically almost impossible to modify. Since the information is not stored in a single site, but is distributed, which makes it decentralized.

At the same time it makes it immutable, because if that information is in 10,000 computers or more, in different parts of the world, you should change the information in all of them, and that is practically impossible. Therefore, in addition to being immutable, it is something that cannot be reversed, once the order to execute a transaction is given, it is carried out.

The Internet is like the technology that makes all these computers interconnected with each other and able to record that transaction, like a chain reaction...

I hope that this example serves to facilitate the understanding of what the Blockchain is to me.

Have a nice Sunday.

 4 months ago 

Brilliant comment @josevas217. I cannot express how grateful am I for time you took to read my post and share your thought with me.

Cheers buddy :)
Piotr

Blockchain technology is basically a method of recording transactions on a public, distributed ledger. It provides a foolproof, verifiable, and largely immutable record of the transactions.

All the transactions are recorded in a digital "block." Each block of data is mathematically verified through a process called "mining."

When the latest block of transaction records is verified by one of the "miners," that block is added to a chain comprising all previous blocks. Therefore, the "blockchain."

Once a block has been added to the blockchain, it becomes part of a permanent record that is, for all intents and purposes, unalterable.

This great innovation was first applied to Bitcoin. However, it has many possible applications beyond cryptocurrencies, including for smart contracts, financial services and banking, and voting in elections.

(Given that I am hampered by a severe lack of technical knowledge, my answer comes in at far less than 5 minutes. If the interviewer wanted at least 5 minutes, I'd fail the interview. But, as you know, I do not want to work anyway. :-)

(As for your comment about "would not enjoy doing" the job, then I'd say don't pursue it. If one cannot enjoy his/her work, it aint worth doing!!)

 4 months ago 

Hello, dearest Professor!
It's a real pleasure to reading you again.

Thanks for the note. Yes, I tuned out for a while in August, and since then, have not been able to re-motivate myself. Of course, Piotr and a few others keep encouraging me to post again, so maybe I'll make some new posts someday ... maybe soon.
Hope all is well with you.

 4 months ago 

...have not been able to re-motivate myself.

Eventually, it is inevitable to feel this way.
The most important thing is to be prepared to receive the muse again. I'm sure it will come back to you soon.

Please, stay safe.

I think you're looking at things from the wrong point of view, you're trying to explain your experience in the ecosystem and not the facts and the chronology of this technology "starts from the beginning" creates a timeline from when it came out of the onion net to today without many details because people are interested in details if they contribute to what they're looking for an example I'm interested in the part of the technology that generates income the other details are not relevant if the BTC was a person that question would be answered with a resume.

 4 months ago 

Dear @trabajosdelsiglo

I trully do not understand what do you mean. I'm sharing my experience during my recent job interview, where I was asked this simple question (and that was first question I was asked): how would you explain what is blockchain to someone who knows nothing about it.

How am I looking at things from the wrong point of view? I'm failing to understand :(

Yours, Piotr

When you commented on how difficult it was to "explain what blockchain is to someone who doesn't know anything about it", I realize that you are addressing that question wrong, because instead of giving the person a chronological order of this technology you are trying to put into words your experiences with lablockchain, that makes it impossible to explain and for the person to understand.

Greetings dear friend @crypto.piotr ... Obviously, if the person does not have any kind of knowledge about blockchain and cryptocurrencies, it would be useless to pretend to speak with a lot of technical language on this matter ... I think it is necessary to make comparisons or examples with facts from everyday life that are common to anyone ... For example: Talk about how a Bank works, and make comparisons of how the Blockchain works ... Make comparisons with a public or private accounting book ... Explain the benefits of that in the blockchain the registered data cannot be manipulated, etc ... As the examples are raised and new questions are most likely generated, this topic usually covers much more than 5 minutes, and more if we capture the attention and interest of the person...

 4 months ago 

Thanks for another great comment @elgranpoeta

Do you use Discord by any chance? I've noticed that you're from Venezuela.

Consider joining our PH discord server whenever you have a moment. You will learn that many of our members are also Venezuelans: https://discord.gg/uWMJTaW

Yours,
Piotr

The simplest and most understandable comparison of a blockchain with a database, where a lot of data files are constantly created and always saved.

 4 months ago 

hi @cranium

Please check out my recent comment: https://steemit.com/hive-175254/@crypto.piotr/qjiyng

Cheers, Piotr

Hello sir, I read your blog. You have experienced blockchain in a very beautiful way. And nicely written thank you.

 4 months ago 

Thank you for dropping by @rabibulhasan71 :)

Hey @crypto.piotr 😊

It was really nice learning from your interview experience even though the questions you were asked questions about what we do and make use of everyday 😊.

How would you explain what blockchain is about to someone who doesn't know anything about blockchain?

Hmm... I will remind that person about Bitcoin (i hope the person involved knows about Bitcoin though). I'll try to explain how blockchain technology is related to cryptocurrency and it's impact in our technological system.

I'll definitely make a comprehensive post about this explaining the Concept of blockchain technology to a newbie and I hope everyone will learn more from this write up.

Thanks for sharing this great post with love from @hardaeborla and I hope you have a great day ahead ❤️💓💕

Hi @crypto.piotr.

I believe blockchain should be understood literally as a block chain.

  • Blocks are a collection of data whose role is to describe an element or event.
  • The chain is the block-binding part, the common part.
  • Cryptographic records and a distributed data recording scheme in a decentralized form are used to secure information in the blockchain.
    *Decentralized means there is no one place where all data is stored.
 4 months ago 

Thank you for being so responsive @deathtox

You seem to have quite a serious knowledge about blockchain tech. However you do not seem to post about those topics on your profile?

Check out this link to our community: https://steemit.com/trending/hive-175254
Perhaps you will find it interesting and worth joining.

Cheers, Piotr

Because I like to be funny how about a funny answer? Blockchain is like the social media of money. On social media, people post things as proof of their activities, whether they are trips or only some random thoughts. You know the saying "pics or it didn't happen".

Blockchain is exactly like that, but instead of pictures, the proof that something (meaning a transaction) happened is a long string of numbers and letters. Depending on the blockchain there are many ways this string can be obtained, but the general idea is that there are a bunch of people that look at your transaction and decide if it's valid or not, in the end, they record it in a sort of archive. This archive is called the blockchain, it retains all the past transactions people did on the network.

In a way, you can say that the validators are giving you hearts 💖 just like on social media, thus proving you post(transaction) is great(valid). Another thing that resembles social media is that, in public blockchains, everyone can become a validator. However, for most blockchains, you're going to need to have some resources in order to be able to validate transactions. On proof-of-work blockchains, you're going to need performant hardware, while on proof-of-stake types you need to hold a certain amount of their native currency to become a validator. Those are the two main consensus mechanisms.

What's a consensus mechanism?

You can think of a consensus mechanism as a like/dislike ratio. On YouTube for example, if a video has 95% likes and 5% dislikes, the consensus has decided that the video is great. But why do people dislike a great video, and how is it similar to blockchain?

There are many reasons why a validator might consider a good transaction invalid or a bad one valid. They range from a malfunction in the system, like how you meant to click like but you hit dislike by mistake, to foul play, or how we call them on YouTube, haters.

A consensus algorithm is meant to not let the haters dictate the fate of the blockchain. As their name implies, the first consensus type makes its validators work hard, which is why you need performant hardware, while the other one is based on the idea that if you've got money in the game you won't be tempted to try to rig the system.

This would be a short introduction to blockchain systems and how they work, without having to understand any of the technical stuff that happens in the background.

 4 months ago 

Thank you for this amazing comment @alexbalan

On explaning with words about Blockchain technology is very difficult. If you say any thing like how to work,why it develops also,people not possible to understand untill you shows a realtime usecases of Blockchain Technology.

I am working here from last three years but not possible to explain my famy members about blockchain technology because its use cases just started,if you say any thing about it they not trusting my wordsalways ask for proofs.

For proof at present conditions i cont show them because its usecases not available for ordinary persons,when it adoption start then onmy possible to show prrof to them,then oy possible to understand them very easily. Untill we cont possible to explain them ,it is not so easy too.

Need realtime use cases using blockchain technology,then only possible to understand every one.

 4 months ago 

Thank you for this amazing comment @lavanyalakshman

Maybe audiovisual solutions are better. ("One picture says more than a thousand words")

Like this video about distributed ledgers and the YAP stones, a cute story:

Blockchain is an electronic ledger which consists of three main components: transaction, transaction record and system that stores transaction.

Blockchain is the technology of the future. The greatest value: authenticity, storage and transmission of information

For a complete noob.

A blockchain is an electronic ledger. Ledgers have been used since antiquity to record every transaction at the time it is made. Then, later one can look through those records and extract useful information such as income and expenditure, profit and loss, running capital etc. That's all it is!

However, keeping such an electronic ledger secure and immutable is the hard part that turns a simple idea into a complicated system.

Thanks for sporting and help

Interesting to read that nowadays employers ask this type of question I've always had a vision that e certain occasions "less is more" and I sense that this time it applies.

A blockchain can be imagined as a long chain of steel links, where each link contains an important piece of information, and all together form a solid and resistant piece capable of withstanding a lot of torque.Think of this as a multi-party signed entity where information is shared and with peculiarity that this information is publicly visible and accessible.All this without intermediaries and without third parties, we ourselves control the operations we do Each link is an important part and the information contained in them is virtually impossible and incapable of disappearing because it remains stored in each link of the chain.For a newcomer it can be difficult to understand this and I think the best way is to invite him to use it and experiment, which would clear up c one of the future questions and concerns.And regarding your job interview, I wish you success and if they answer you, I hope your stay in that company will be prosperous.

 4 months ago 

Amazing comment @reinaldoverdu
Thank you for taking the time to share your thought with me

Edited:
I will explain the blockchain to a child as an unending train owned by no one, which carries gifts for people. Every child can always put their gift into the train according to each coach. Each gift is checked by different cameras which is viewed by different people in different part of the world. Whatever gift has been dropped into the train cannot be removed for life and no one can attack the train because it is guarded with electric wires.

I will explain the Blockchain to a novice as a register in form of blocks tied together in chains where information are inserted into each block by anyone. each block has a tally (hash) of the previous block and the next block so it can be easily identified by whoever drops data into it. The block is immune to attack as the content of the block is being certified by different people at the same time.

To be continued...

 4 months ago (edited)

Thank you for dropping by and for this comment @gbenga

To be continued...

??? :)

A blockchain is a record system of every financial transaction ever made that is kept public, and no one person or institution runs nor owns it. Because this system of a blockchain is uneraseable, uneditable, and can not be tampered with, corrupt crimes of our current traditional banking fiat system such as money laundrying, double spending, and criminals creating counterfeit money can be stopped.

Each coin has its our blockchain, or record book, that is run by a node (a data system), and the data is pumped out by miners, who are processing your transactions for a little miniscule fee, that nowhere compares to the traditional banking fees of today.
The blockchain is not governed by any authority and therefore shows truth.

 4 months ago 

Love your explanation @gungho :)

Big thx for taking the time to drop this comment

ps. do you use Discord? I would like to invite you to our Project.hope community discord server:
https://discord.gg/uWMJTaW

Well, I like the explanation from Sunny Lu, VeChain CEO... he compared it to saying to one person that I love you... you can at any time deny that you said it as there is only one witness.

But, with blockchain there are many witnesses watching your actions, meaning that you cannot deny your actions later, because of the numerous number of witnesses... :) Something like that!

 4 months ago 

Thank you for dropping by and for this comment @unbiasedwriter

Well in this type of situation just like you say that it just seems like you are talking to someone who is or haven't hear about internet before and trying to tell him or her how internet works.

I think how you can tell in this scenario is trying to find a suitable easy to understand definition about blockchain to the newbie.

What do I mean by that, trying to make the person understand how it works from the basic as knowing the basic will surely help the novice, what he or she needs to know the prons and cons and most especially how it works.

If the novice tend to understand much more better then you can not move forward explaining to the person the importance and benefits of the blockchain to individual and to the world generally.

To me to an extent, it is quite difficult to find a easy and suitable definition of blockchain to a novice but I believe that will really help trying to let them know the basic as the basic will crave way to understand more about it.

 4 months ago 

Thank you for this brilliant comment @mandate
I truly appreciate your time buddy

Greetings @crypto.piotr is undoubtedly a question that allows to give a deep conceptual justification since on it there is a lot of fabric to cut.

However, starting from the fact that users have no previous knowledge about the subject I would define it as:

"A space of exchange" " where a variety of perspectives and knowledge converge, at the same time we can capitalize and make our monetary capital grow, through clean and transparent transactions, leaving aside the vices of the old traditional economy.

Thanks for this initiative, we will be attentive to the divergence of positions on the subject. We will continue reading.
 4 months ago 

Thank you for dropping by and for this comment @madridbg

Hi @crypto.piotr
Why did you feel that the position wasn't right for you?
I don't know exactly what blockchain is... but to me, it is kind of like huge database that is on the chain and everybody can look at that data.

 4 months ago 

Hi @tomoyan

Why did you feel that the position wasn't right for you?

Truth is, I've reached stage in my life where Im financially quite comfortable. Which means, that I do not need to work to survive and it is allowing me to be little bit "picky".

And my goal is to surround myself with positive people. Inspiring people. Those who I want to collaborate, love or work with.

And since beginning of this interview - I had impression that if I get that job, then I will hate it because of someone who would be my "supervisor".

Somehow I felt reliefed when he summarized that he doesn't see me being a good match for this position.

Well ....

Hahahaha I totally understand now. It is nice that you made it to that level... :) I want to be my own boss for my life someday

Actually, I have also been with people with some knowledge of blockchain, so I never thought about how to explain blockchain to a newbie.

But if that happens; I will tell them that blockchain is like a group of ledger (or transactions) that are connected with each other to form an interconnection or a chain, in which a particular transaction is linked to another. In this case, you cannot undo a particular transaction that has been initiated because they are immutably connected to other transactions.

Okay I don't know if I'm making sense here :)

Have a resteem buddy

 4 months ago (edited)

Thank you for dropping by and for this comment @samminator

Appreciate your resteeem :)

Now that I think about it, I also haven't been talking to newbies as much. I generally talk to people with previous knowledge. Also, the description of blockchain will vary from person to person; for example, if the newbie is someone with a background in app development/IT related role, you will explain it in a different way than to someone who is in the banking/finance industry. Both of them can use the technology and related topics in different ways.

If I were to describe blockchain in the simplest terms, I'd say it is a country where you can create transparent and trackable value through your CPU. The value can then be liquidated and traded in the form of cryptocurrencies in an open market

So in essence, a blockchain is like a country and every country has its currency. Within a country, there are numerous activities going on that generate the country's currency, and it is the same with blockchain. However, in Blockchain, the activities are done by miners and developers. Just like in a country where the activities and speculation may affect the currency exchange value, the cryptocurrency of that blockchain is also affected by the quality of activities and speculation.

This is the simplest form I can think of.

 4 months ago 

Love your explanation @belemo :)

Big thx for taking the time to drop this comment

For a complete noob in blockchain technology, the easiest way to explain to them is, Blockchain is a public log book that allow people to transact without involving a bank. There are people who hold certain power to make sure the network establishment, they're the server, the owner of witness node or we call them miner. They are the infrastructure supplier of this decentralised log book system, to ensure the integrity of the network. Different Blockchain has different characteristic. Log book and wallet function is only a part of it, but due to the nature of "holding value", this wallet function play an important role of a. lock chain existence.

Just like network file sharing system, like torrent file sharing, they're exactly the same thing. Everyone share their resources and we have a torrent network.

If your wife is the audience, show her this photo. Blockchain is the 555 booklet and the bank is the ringgit. She will get the idea. My regards to her and the little one 😜

[WhereIn Android] (http://www.wherein.io)

 4 months ago 

Thank you for dropping by and for this comment @davidke20

Loading...

Please share your thoughts with me. How would you explain "blockchain in 5 minutes" to someone who doesn't know anything about it? What is this technology about? `

Well the main thing is how we explain blockchain with new people. Some Blockchain user inviting other persons by telling them that this is like invest 1$ and get 2$ , 3$ or 5$ plan. Ofcourse there is value of investment purpose of blockchain. But i personally believe that this is wrong to explain in very first meet, instead of this i will prefer to elaborate the technology of blockchain such as decentralization, transparency and security.

While reading the post I actually thought to myself that if I was in a similar position I might not be able to answer the question as well, this is because I have never had to deal with explaining blockchain to a newbie before but I will learn through the intelligent comments left here.

 4 months ago 

So clearly we're on the same page @oluwatobiloba ...

Happy with your return you were missing, there are many participants out there who lack that knowledge. I can only give my vote and resteem as always because of cryptocurrencies I only stay attentive and listen to others to learn. Thanks for that nice support to the community. @crypto.piotr

Contenta con tu regreso hacias falta, hay muchos participantes por alli que les hace falta esos conocimientos. Yo solo puedo dar mi voto y resteem como siempre porque de criptomonedas solo me mantengo atenta y oyendo a otros para aprender. Gracias por ese apoyo bonito a la comunidad.

It's hard man, I guess it's like trying to explain to my mom about blockchain. So, let me see if I can explain as easy as I can

I could say that blockchain is an accounting record of digital currency (called cryptocurrencies) transactions. This digital ledger is replicated on millions of computers all over the internet. This makes it indestructible, reliable, and perennial.

Initially, the blockchain was created to keep track of cryptocurrencies, however, today the blockchain not only saves transaction records but also all kinds of information. Making it a secure means to save and maintain untouchable information in a perpetual way.

Maybe these fellows could help you better ^_^

 4 months ago 

I had seen this video in the past. It's very illustrative.

Thanks for sharing.

No te había visto, mi hermano! Ya venir a steemit es como ir a un pueblo fantasma del oeste XD

 3 months ago 

No hermano. Aquí hay vida demás, solo debes buscar en los lugares correctos.

you sure?

 3 months ago 

Lol!

 4 months ago 

Love your explanation @jadams2k18 :)

Thank you, I appreciate your kinds words ^_^

Dear @crypto.piotr,

If I had to explain what blockchain is to a novice, I would simply explain this to him:

The blockchain is like an open account book where each transaction is recorded. This account book is shared and stored on different computers around the world. It is therefore almost impossible to modify this book with a fake transaction because the other computers containing the real transactions will prove otherwise.

If we want we can therefore compare each page of the book to a block and like the binding of a book, the blocks are linked to each other with a chain -> blockchain.

I think it's a good start to understand what this technology is, but of course it's a bit more complex than that and just explaining the differences between each blockhain would take hours ;)

Greetings,

 4 months ago 

Thank you for this brilliant comment @lastminuteman
I truly appreciate your time buddy

Muy buenos dias amigo @Crypto.pior
Yo soy justo una de esas personas novatas o nuevas que esta empezando a interesarse por comprener el maravilloso mundo de las crypto monedas.

He estado leyendo por internet y he conseguido informacion muy valiosa. Consegui una guia en ingles y me tome el trabajo de traducirla al español para que otras personas interesadas como yo de la comunidad latina puedan tener acceso a la informacion mas facilmente.
Por ahora ya estoy manejando algunos conocimientos basico. Por ejemplo ya se que es un blochchaim o cadena de bloques o al menos creo saber lo que es.

Me intereso por saber como es el trabajo de la mineria y creo comprender que se necesita para minar un buen equipo con una fuente de poder mayor a 750 W. y que esos equipos entre otra cosa aparte de ser costosos consumen mucha electricidad. Tambien descubri que hay que comprar el software para minar o asociarse con otras personas en una nube.

No tengo posiblidad de comprar un equipo y aun no he intentando bajar el programa para minar en mi equipo porque temo que colapse y ya no lo pueda recuperar.

Realmente lei mucho mas de lo que estoy comentando por aca, pero esto es la parte mas relevante para mi. Como minar y por donde empezar. Algo aprendi solo que aun no lo he puesto en practica por falta de una buena computadora.

Tengo algunos conocimientos de computacion, pero creo que no lo suficiente como para animarme a minar.

Un saludo desde Maracay, Venezuela. Muchas bendiciones para Usted mi apreciado Profesor.

#onepercent
#twopercent

PD: aqui le dejo el link sobre la traduccion que hice del Ingles al español.

https://steemit.com/betterlife/@yokondap/conceptos-basicos-de-criptomonedas-guia-facil-traduccion-del-ingles-para-la-comuniad-latina

 4 months ago 

Thank you for your comment @yokondap

Unfortunatelly I do not speak spanish :(

oh i am sorry. Try to use google translator. It is so easy to use.

grettings from Venezuela

#onepercent

#twopercent

before explaining Blockchain first you have to find out the background of the newbi, then you will easily give interesting answers !!

for example if from among writers then you can explain about blogger, if he is from entrepreneur you can explain invest etc.

I think my answer will help you

How would you explain what blockchain is about to someone who doesn't know anything about blockchain?

I think it's a very serious question when explaining to a newbie . I will get a approach like this.. Simply bockchain means a technology used for transaction record keeping. There are two parts in this word. "Block" and " Chain" . Blocks keeps all the information like what who where howmuch like that .. and there is a something called "hash" for each block .. something like a unique id which make each block different from each other. So the whole public database which all these blocks attached is the "chain". That's what blockchain is ..

But this should be explained with a transaction example to get a clear idea.

I will say like this
He is an electronic ledger, an electronic store, an electronic money, all transactions are here...

Well for the little time I have spent in crypto space, I will explain to new user that Blockchain is a connection of many users online in other to earn crypto currencies coins. The Blockchain provide platforms for users to engage in difference online activities and earn crypto currencies.
On Blockchain we have difference platforms and one of it is steemit. Steemit platform allow user to write quality post and earn STEEM.

Your post is manually rewarded by the
World of Xpilar Community Curation Trail

join the World of Xpilar Curation Trail, info can be found here

 4 months ago 

Thank you @worldofxpilar and @xpilar :)

Wow....

Wow! They really asked you a very tricky question, @crypto.piotr.

Particularly speaking, I wouldn't know how to answer such a question right away. However, organizing my thoughts, I would certainly look for a language that is easy to access and understand for the most humble population (who are generally not interested in finance... unfortunately, for obvious reasons) to try to explain this matter.

In addition, I would try to immerse myself in the reality of the society for which I am trying to explain the matter, because this kind of empathy and "connection" with the reality of the other helps to make things easier to understand.

I usually like to imagine a blockchain as a ledger, specifically, a public ledger containing lists of transactions. Since we are coining the words block and chain, it means that records are usually grouped in a specific manner, where each group contains a hash of the previous block, a timestamp and transaction data. Meaning that every block is linked to the next and records in each block can never be altered as this would shatter the integrity of the chain since every block contains a hash to specific data.

Oh I feel you, how to explain blockchain without getting people lost in all the technicalities... I found myself in this situation many times before and I ended up publishing my own way of explaining it HYG I hope you find it helpful https://steemit.com/blockchain/@cryptopodium/simply-explained-the-real-deal-behind-blockchain