Have you ever tried to explain Bitcoin or cryptocurrency to a friend, only for them to stare doe-eyed into the display, and saying, “I don’t understand a word of this!”
Sometimes it’s hard to explain these concepts to newbies, and it’s more than a little challenging to explain the past and future of cryptocurrency in simple terms. It’s also not the easiest thing to, you know, explain who the hell Satoshi Nakamoto actually was.
But that doesn’t mean it’s impossible either. One of the best ways you can educate people of all ages regarding the blockchain is to stop reading so much “expert commentary”, and instead use a video tutorial to better explain the fundamentals of blockchain tech.
In this article we’re going to consider some of the basics, and also share some video tutorial links that will further your education.
Why Understanding the Blockchain Matters
Emphasizing blockchain theory first is important, and even more so than the cryptocurrency, which is what most people have heard about.
The blockchain refers to a system of recording transactions, sort of like a digital ledger, but one that cannot be easily changed, hacked, or altered. Every new transaction is distributed across a network of linked P2P computer systems and usually involves cryptocurrency.
Explaining this simple fact helps people to understand that blockchain is ultimately about decentralizing many financial processes. Every member of the network has a copy of the distributed virtual ledger book, meaning everyone can verify transactions for themselves, and not rely on a central finance company to oversee the process.
Besides, blockchain technology is what is rapidly growing, arguably more than or at least equal to crypto itself. Multiple industries are using blockchain tech for their own purposes, viewing it as a new commodity – and one without a central authority.
The invention of Bitcoin was actually to help everyone learn to “make their own bank” and eliminate middlemen or intermediary companies when possible.
The Best Learning Resources for New Blockchain Trainees
Who better to explain blockchain than the movers and shakers behind Ethereum.org? The site has plenty of guides to crypto basics, wallets, Web3, energy consumption, glossaries, and understanding blockchain ledgers. You can even access a forum to ask questions.
If you prefer to read such complicated concepts in book form, you can buy “Bitcoin and Cryptocurrency Technologies: A Comprehensive Introduction Illustrated Edition” via paperback, hardcover, or Kindle.
But one of the best video programs on the blockchain is by Gary Gensler, who offers an in-depth YouTube commentary on the blockchain, as well as a complete video course available from MIT OpenCourseWare.
Gary covers contextual history, failed digital currencies, blockchain theories, technology, financial sector problems, blockchain potential opportunities, challenges with blockchain technology, Q&As, and much more.
Over at SimpliLearn, there is a tutorial focusing on the future of money in general, and why blockchain is set to change much of our future. This video course goes into more detail regarding decentralization, and how that actually protects intellectual property. The course also discusses how companies can use blockchain to improve their business model.
Video Streaming and Blockchain Coincide
Over at Medium, there’s a thought-provoking article covering how video streaming and blockchain are both transforming the modern internet. Streaming technology with video is actually growing astronomically in usage. Video is already expected to reach 4 zettabytes, and by the end of the year, it’s believed that over 80% of all internet traffic will be for videos.
The quality of videos is improving, with 4K, 8K and 360 experiences, and so we are changing the way we create niche entertainment, find new markets, and deliver customized experiences to others. You can even buy free video loop footage for films, educational videos, and other projects.
The internet is certainly helping us to connect to virtual niche communities all over the world. With tech as promising as the ISOVerse or Meta, we’re seeing the distant future today – a virtual world will billions of tradeable, virtual commodities.
An Unregulated Decentralized Social Media
But where it gets interesting is how blockchain-based video is rising in popularity. Blockchain is now helping users to encrypt their videos and store the videos permanently using an “IPFS swarm.”
These broadcasts rely on relay nodes and IPFS to not only protect creators (by ensuring the integrity of ownership), but also to decentralize hosting. Just read this jaw-dropping article from Legacy Research, covering how social media may eventually become free of censorship with a decentralized blockchain approach to users maintaining their own content.
The Blockchain Is Your Future, One Way or Another
The future of blockchain is intrinsically tied in with the cultural and commercial trends of modern consumers in general. Whatever we want, and however we want to connect with others, technology finds a way to deliver that custom experience. The blockchain promises more user-created and user-stored media and the sky’s the limit.
Now is the time to understand blockchain tech not only because it’s the future of our culture, but also because now is the time to invest and find a way to use blockchain for your own business goals.