We at CryptoDetail love to share our knowledge and research with seasoned members of the cryptosphere and newcomers alike. We especially embrace explaining the basics with newbies with no technical or financial background. After all; Satoshi started this little revolution to free the common man /woman from the financial slavery of the past.
So, when you ask us how to explain blockchain to your own grandma, please, allow us to assist. Just print this letter out and show it to your grandmother; or, better yet, read it to her. Then, once you have told her this tidbit of information, sit and answer her questions; she is going to have a few after diving into the pool like this. Remember, keep it simple. Because, although the actual technology behind the cryptosphere is quite complicated, the basics are just that; basic.
We are CryptoDetail and our friends (your grandkids) asked us to explain all of this new-fangled stuff called blockchain.
It is actually not very hard to understand. You have probably had the original paper version of a blockchain for most of your life. Remember that ledger book you and Grandpa had in his desk? The one where you both sat and looked at all of your expenses and income?
Actually, you also had another paper blockchain in your checkbook. The one where you kept a running tally of your bank account balance every time you made a bank deposit or wrote a check.
Anyway, that's the basic definition of a blockchain. The way this ledger works is a bit different. But, it is still just a ledger (with a few new age superpowers).
A blockchain ledger tracks more than just your own transactions; it records every transaction, from everyone, since the beginning of that cryptocurrency. See, a blockchain is a ledger that only holds one cryptocurrency. What is that?
Well, a cryptocurrency is like a dollar; except a crypto only exists on a computer. There are no real, physical coins or paper money representing a cryptocurrency. Since you are really only dealing with an electronic ledger full of numbers being traded back and forth it is pretty basic in that sense; although, it is a bit crowded.
Anyway, you have probably heard about Bitcoin. That is one of those cryptocurrencies. In fact, it was the first one. Since Bitcoin was the first cryptocurrency (electronic money) the Bitcoin Blockchain was the first blockchain ledger.
So, how does the Bitcoin Blockchain keep track of everyone's transactions all over the world?
Well, that is where the Bitcoin Wallet comes in. A Wallet is like your checkbook itself. It holds your Bitcoins by telling the Blockchain when you send or receive money (Bitcoins). Every Bitcoin wallet is always talking to all of the other ones. That constant communication is what makes the blockchain so secure. If every wallet is in complete agreement at the same time; the blockchain cannot be breached by those nasty hackers you have seen in the movies. All of this keeps your cryptocurrencies safe.
Anyway, that is pretty much it Grandma. The blockchain is just a bunch of wallets building a "chain" of transaction "blocks" that form a public ledger in order to keep everyone honest.
Thanks for taking an interest in blockchain Grandma. Right about now you have probably got a few more questions. Your favorite grandkid is sitting right there ready to talk to you about it.
All Our Love,
The Team at CryptoDetail
Now a Little Homework for You
Before you give that letter to your grandma; it's time to do your own homework. Whether you are a newbie or a seasoned crypto vet; it does not matter. Get reading and learning /brushing up on the basics. You know, those things you probably already know. The ones you probably take for granted.
We know you want to give your grandmother the best information possible. And, unless she worked at NASA or IBM back in the day; you are going to need to keep it basic. You are going to go at this the same whether you are a newbie or a vet.
Jump on Google (or your favorite search engine) and type the words "blockchain basics". We want you to read every website on the first 4-5 pages of that search result. Don't be scared, dive in and learn everything about blockchain; or, relearn it if that is the case in your situation.
Okay, here is the fun part
Forget every catchword and repetitive phrase you just read. This is the tutorial for your grandma. So, again, KEEP IT SIMPLE. Your grandmother probably is not going to ask you anything too terribly technical. But, she will likely want to learn more about the very basics. Just remember to try to relate it to what you know about her level of ability here.
We here at CryptoDetail applaud your desire to share the new technology, the freedom and the basic concepts that were born with the gift of Satoshi. So, be sure to read /reread the Bitcoin white paper. That will let you add the philosophy behind the crypto revolution to your discussion.
Just be patient, be honest, and be correct. After all; who wants to be corrected in a conversation about blockchain; especially by their grandmother. Seriously though, thanks again for wanting to share this information. That desire to share through such conversations is how the cryptosphere has grown from a good idea with only a few users; to a multi-BILLION dollar per year industry. We wish you luck imparting these lessons
And, once you have had this conversation, show your grandma how to get to CryptoDetail if she wants to explore the cryptosphere further. Thanks for asking. Happy HODLing!!!
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