I have been contemplating the best way to explain exactly what Blockchain technology is, and I think I finally found the best explanation or analogy:
The Blockchain can be seen as a Computer Spreadsheet with each cell or block being password-protected.
I have created a Microsoft Excel Spreadsheet to illustrate this further and you can see it below.
https://1drv.ms/x/s!As32ynv0LoaIh6BKW5W2HtZhnSu9TQ?e=pFXI9C
MES Note: I have included the link to the Excel sheet in case you want to add to it or modify it with your own explanation!
Essentially, the automated interconnected calculations means that decentralization is possible since all that is required of the user is simple ownership of the cells or blocks, or whole groups of cells or blocks, through obtaining the password to each cell or groups of cells. The password, and hence blocks, can be sold on exchanges or directly thus acting as a virtual real estate market. And the public address of each cell is simply the cell location. The different Spreadsheets or pages represent each blockchain (and the ones I have included are some of the ones I am investing in ;)).
Let me know what you think about this way of explaining blockchain technology!
It's really interesting to know the Blockchain concept in the aspect of an Excel and yes it's really easy to understand and defining the Blockchain effectively, and the main thing is every Block is protected with passwords, it's an really vital aspect. Thanks for sharing and wishing you an great day. Stay blessed. 🙂
This is a great analogy and I’m probably going to borrow it. I was at a party the other day (well, truthfully, a “celebration of life” after a funeral) and I was prompted to explain blockchain and why people say it’s such a game changer to a group of women ranging from 75 to 95 years old. It actually went really well and the three women who seemed particularly interested totally got it. I started off by explaining what Bitcoin was and how it functions in simple terms, then explaining the “blockchain” that is at the center of it in terms of the standard financial ledger that people used before computing. Then I talked about the difference between “the old decentralized internet” and what is becoming an increasingly monopolized and centralized internet, which is pretty topical given all of the recent revelations with FB that came as a surprise to none of us, I’m sure, and how blockchain can re-decentralize. It’s actually a pretty good time for us all to reach out and make the case for decentralization now that people are starting to understand the monsters we’ve created.
Cool beans