Must Know : Basics Of Blockchain Made Easy
What Is a Blockchain? Shared Google Doc Analogy Just like you and your friends all see the same live document, every participant (node) in a blockchain network holds a full copy of the ledger. If Alice adds a sentence, Bob instantly sees it—on-chain, if one node confirms a transaction, all nodes update too. Decentralized Ledger Traditional ledgers live on one server (a bank, company, etc.). If it’s hacked or fails, you’re out of luck. Blockchain copies that ledger to hundreds or thousands of nodes around the world—no single point of failure. Immutable Records Each new entry becomes part of an immutable chain. To change it, you’d have to re-write every subsequent block on every node—practically impossible. How It Works in 3 Steps Gather Transactions → Make a Block Users broadcast transactions (“Alice pays Bob 2 BTC”). Nodes collect these into a candidate block—like packing letters into an envelope. Each block can hold thousands of transactio...