While there’s no shortage of hype about cryptocurrencies, there’s a serious lack of simple, easy-to-understand information on how they work. One of the most common misunderstandings surrounding crypto is how blockchain works — or what it is.
- What is blockchain?
- How blockchain works
- Consensus methods
- Applications of blockchain technology
- The future of blockchain
Introduction: Blockchain – The Great Disruptor
Blockchain technology — the driving force behind cryptocurrencies — is positioned to disrupt virtually every centralized industry, such as insurance, lending, logistics, and venture capital… even day-to-day purchases.
The core concept behind blockchain is decentralization, shifting the structure of organizations away from the tightly controlled architecture of the current paradigm.
If you’re considering investing in the cryptocurrency market, it’s essential to develop a firm understanding of what the blockchain is and how it works. Many of the guides available on the blockchain today, however, are highly technical in nature and can be difficult for newbies to grasp.
Even if you’re not interested in participating in the cryptocurrency market, gaining an insight into the way blockchain technology works can help you cut through the hype surrounding ’cryptos‘ and better understand the regulatory furor they’re currently causing.
In this guide, we’ll break down the core concepts behind blockchain and present a clear explanation of how blockchain technology works, free from jargon, technical language, or confusing terms.