On the one hand, it was necessary to start all the training courses at our open University of crypto social networks with this information. On the other hand, not many users could understand what it is all about and why this word is so popular today.

Yesterday I was asked a question about blockchain and I realized that some explanation must necessarily be on this topic. I decided to do it in two ways — simple and… very simple. If you have already been studying at our open University on the Levelnaut.com website https://levelnaut.com/2018/04/23/crypto-networks-university/ that nothing complicated is in this topic.

So I’ll start with the simplest explanation. Blockchain is a system that consists of users’ computers. That is, all people who have, for example, installed a bitcoin wallet — are parts of a huge system consisting of many computers, and many wallets. Therefore, this system can not practically be destroyed, and the theoretical ability to hack it is very small.

Banks are not by chance so respectful about the blockchain and many of them are already actively using this system in their work. They understand well what a threat to their existence lurks in the blockchain if they ignore it.

And now a simple explanation. But its best to do with the help of the project bitfortune.net and Karthik Reddy. I mean infographics, which will be presented below.


I hope that the graphical part of our lesson will help you to understand the essence of the concept, which is called blockchain. I invite everyone who has not yet begun to study the materials and courses of our University to immediately begin to do so.

Picture by pixabay.com