Hi guys, Ozara here!
In today’s video I will talk about what block chain in cryptocurrency is, and how it makes certain cryptocurrencies more valuable than others. I know this video is extremely long, but bare with me! I tried to make it as short as I could while covering most of the things that make block chain technology great.~ Anyways, I hope you guys enjoyed! Don’t forget to subscribe as I’ll be explaining how to safely invest into cryptocurrencies next week, and which website I use to invest 🙂
Timestamps:
0:00 Introduction
1:41 Blockchain Introduction
3:36 Peer-to-peer (P2P) defined
4:00 Distributed Ledger defined
4:17 Cryptographically Secure defined
4:44 Append Only defined
5:26 Updatable via consensus defined
6:18 Blockchain Architecture
6:24 Blockchain by layers
6:42 1st Layer – Network
6:51 2nd Layer – Peer-to-peer network
7:00 3rd Layer – Cryptography
7:33 4th Layer – Consensus
8:01 5th Layer – Execution
8:34 Last Layer – Applications
9:08 How does blockchain work?
9:56 1. Initiation of the transaction
10:36 2. Transaction is validated and broadcasted
10:58 3. Find new block a.k.a Finding a new block
11:19 4. New block found
11:55 5. Adding a new block to the blockchain
12:17 Benefits of blockchain
12:25 1. Decentralisation
12:44 2. Transparency and Trust
13:08 3. Immutability
13:24 4. High Availability
13:46 5. Highy secure
14:49 6. Simplification of current paradigms
15:20 7. Faster Dealings
15:45 8. Cost Savings
15:56 9. Platform for smart contracts
16:23 10. Smart Contracts oops repetition but different points
17:31 11. Smart Property
18:49 Limitations for blockchain technology
19:01 1. Scalability
19:17 2. Adoption
19:41 3. Regulation
20:12 4. Relatively immature technology
20:35 5. Privacy and confidentiality
21:30 Types of blockchain
22:06 Public blockchain
22:40 Side chains
23:56 Tokenized blockchains
24:18 Blockchain in Bitcoin
24:27 Blockchain in Ethereum
25:03 Conclusion
Jk its not the end cause I keep rambling
25:32 Buying Cryptocurrency SAFELY
This video had a lot of information so If you have any questions comment them down below! Also comment down below if you have any suggestions for future videos.
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