Kaya 👽🎩☘️🎲🇺🇦
@ron4yk
And I continue my marathon of learning cryptocurrency and today is Day 2, thank you for your support! 📚 Day 2: What Is Blockchain? Simple words for a complex topic 1. 📦 What is blockchain? Blockchain is like a chain of blocks that store information about transactions (crypto transfers). Each block contains: 📄 a list of transactions, ⏰ a timestamp, 🔒 a cryptographic code (called a hash), 🧱 the hash of the previous block (this links the blocks into a “chain”). To make it simple: 👉 Imagine a cash register that records every purchase in a notebook — but this notebook is public and cannot be altered. 2. 🔒 Why is blockchain considered secure? 📁 Data cannot be changed — once something is recorded, it cannot be deleted or edited. 👥 Decentralization — copies of the chain are stored on thousands of devices, not just one server. 👀 Transparency — anyone can view the records. 3. How does it work? — A simple example: ⬇️
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Kaya 👽🎩☘️🎲🇺🇦
@ron4yk
3. How does it work? — A simple example: You want to send 1 Bitcoin. Your transaction enters the network. Miners check and confirm it. It is added to a new block. The block becomes part of the chain. The transaction is now official. ⬇️ Simplified process: [Your Transaction] ↓ [Verified by Miners] ↓ [Added to New Block] ↓ [Block Linked to Chain] ↓ [Transaction Confirmed!] 4. What else is blockchain used for? Blockchain isn’t just for money. It’s also used in: ✍️ smart contracts (automated agreements), 📦 logistics (tracking goods), 🎨 NFTs (digital art), 🏥 healthcare (storing medical records securely). 🧠 Mini Test (Day 2) Choose the correct answers: What is stored in the blockchain? a) Only wallet balances b) A list of transactions c) The number of bitcoins in circulation Why is blockchain hard to hack? a) It’s stored on one central server b) Only one computer checks it c) It’s stored on thousands of computers ⬇️
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Kaya 👽🎩☘️🎲🇺🇦
@ron4yk
What is a "hash" in blockchain? a) A wallet password b) The sender’s address c) A unique code for each block ❓ Reflection Questions What surprised or impressed you most about blockchain? Do you think blockchain could be used in your field (e.g. design, art, crypto)?
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