Blockchain explained to a 10 year old We know that you are not a 10 year old but we like to explain these topics in very simple terms so that everyone can get a grasp on them.
Blockchain is a massive notebook which keeps track of everything 📝 Okay, Let's say you have a group of friends who each keep a small journal in which they record everything they do or get from one another, the money spent, borrowed, who bought what and from whom. Therefore, if you borrow a toy from a friend, both you and your friend write it in their respective notebooks.
imagine that one day you discover that your friend and you had different entries in your notebooks. You choose to seek the assistance of a third person because you are unsure of who is correct and who is incorrect 🧑🤝🧑.
This third friend serves as a referee, evaluating the contents of both your notebooks to determine which of you is telling the truth. He writes the accurate facts in their own notebook, which is similar to a trusted special notebook in which everyone trusts.
and it is similar to a very long list of everything that has occurred between you and your pals. It allows you to keep track of everything and ensure that nobody is lying or cheating. As a result, you can now simply glance at the blockchain to see the truth whenever you and your friends want to know what actually occurred. It functions somewhat like a massive online logbook and helps to maintain honesty.
This special notebook is called a "blockchain" 🪢 and it is similar to a very long list of everything that has occurred between you and your pals. It allows you to keep track of everything and ensure that nobody is lying or cheating.
As a result, you can now simply glance at the blockchain to see the truth whenever you and your friends want to know what actually occurred. It functions somewhat like a massive online record book 📜 and helps to maintain honesty.
