Except you are homeschooled, almost every educated person has been in a school where the teacher writes on the board and the students copy in their own notebooks (well if you have not experienced that, I have). All students copy the same notes in their books in their own writing style. Aside from the truth that students sometimes make mistakes while copying, it is believed that all students will make a copy of what the teacher wrote on the board. One reasonable fact is that even if the teacher rubs the board after the class, copies of the notes he wrote on the board still remains in the students’ notebooks- that is unchanged.
Now, imagine that the students are perfect and they make no mistakes and they are present in this coronavirus situation so they all have to copy notes from home which are country-wise far from each other. The teacher is transmitting live on 5G, notes on the board to all the students who copy as fast as they could. Now there are several teachers according to the course they teach. To a high extent, there is no way to change the notes in the notebooks of the students after the classes, only if the teacher orders it or the students agreed to lie or manipulate the notes.
The scenario above is quite close to what decentralization represents. Decentralization is the foundation of blockchain technology or say Bitcoin.
So what does the Illustration mean or are we just imagining?
The students are nodes or computers recording transactions from all over the world. The notes are transactions and the teachers are Bitcoin owners all over the world transacting per time. Each page of the notebook is a block that records transactions in a 10minute frame. The time for each course can somewhat be likened to the 10 minutes block times on the bitcoin network. The notebook itself is the ledger where all transactions are recorded permanently. According to the illustration, the notebooks remain the same unless all (or almost all) the students agree to make a change this is called consensus on the blockchain.
Take it in
Enough for now, experienced? why not add some other simple terms through the illustration to make things simple for beginners.
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