š§ Blockchain 101: Why This Isn't MagicāIt's Math
People say "blockchain" and think Bitcoin and wealth. Actually, blockchain is closer to... a transparent ledger.
Imagine this:
⢠You record a transaction (Ivan sends Maria 1 BTC)
⢠Thousands of computers verify that Ivan actually has 1 BTC
⢠When everyone agrees, the transaction enters a "block"
⢠That block links to the previous block ā "chain" = blockchain
⢠If someone tries to change an old transaction, all blocks after it break ā corruption detected!
š” THE KEY: No single authority (bank, government) can manipulate history because thousands of computers must agree.
šÆ Real-world comparison:
- Traditional bank: You ā Bank ā Other bank ā 2-3 days
- Blockchain: You ā Network verifies ā ~10 minutes (for Bitcoin)
ā ļø Note:
Blockchain is transparent, but transactions are pseudo-anonymous (you see addresses, but not who's behind them).
#Blockchain #Bitcoin #Education #CryptoBasics #BlockchainTechnology
