Chapter 1: Blockchain: What It Is, How It Works, Why It’s So Popular

by Bruno Škvorc

This introduction to blockchain was originally published at Bruno's Bitfalls website, and is reproduced here with permission.

What is “the blockchain”? How does it work, why is it popular, and why do so many people claim it’ll revolutionize the world?

In this article, we’ll explain blockchain technology with a banal example that’s nonetheless valid for most cryptocurrencies currently in circulation. Not familiar with the concept of cryptocurrency? See here!

Mario and Luigi

Mario needs to send $100 to his brother, Luigi, because Luigi being Luigi, he got into some debts at the other end of the world.

Mario walks into the bank and says “I’d like to send $100 ...

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