It’s not terribly hard: A blockchain is a ledger that’s publicly shared and held by a number of people. When a transaction happens, the ledger gets updated across the board, and all the instances get compared to each other to make sure they agree. This fights fraud by keeping scammers from being able to change one centralized ledger all by themselves. It’s called “blockchain” because the instances are saved as small blocks of data and chained together.
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The problem was that a whole bunch of other scammers decided to fool the ignorant into thinking that blockchain was something that could make everyone rich forever.
boydpercy Premium Member over 1 year ago
Smart kid!
jagedlo over 1 year ago
“Starring Joe & Marcy” or in this case starring Tomi & Teddy!
Ellis97 over 1 year ago
The twins are very wise beyond their years.
The Wolf In Your Midst over 1 year ago
It’s not terribly hard: A blockchain is a ledger that’s publicly shared and held by a number of people. When a transaction happens, the ledger gets updated across the board, and all the instances get compared to each other to make sure they agree. This fights fraud by keeping scammers from being able to change one centralized ledger all by themselves. It’s called “blockchain” because the instances are saved as small blocks of data and chained together.
.
The problem was that a whole bunch of other scammers decided to fool the ignorant into thinking that blockchain was something that could make everyone rich forever.
William Bludworth Premium Member over 1 year ago
You lost me at “instances” and I’m s’posed t’ be Eye-T support.
And you also lost me when I saw nothing in your comment about which guv’mint backs ‘blockchain’.
christelisbetty over 1 year ago
What’s that crashing sound ? Oh that’s just the banks that accepted crypto failing.
kab2rb over 1 year ago
Not the only ones on crypto.