Question 1

What is a blockchain?

Accepted Answer

A blockchain is like a special kind of notebook where digital information is recorded. Once something is written, it cannot be changed, and everyone can see the entire notebook.

Question 2

Why can’t you change what's on a blockchain?

Accepted Answer

Blockchains are special because they use math and computers to make sure no one can change what's already there. It's like writing in permanent marker; you can't erase it.

Question 3

What can we use blockchains for?

Accepted Answer

Blockchains can be used for lots of things like keeping track of money, trading game items, or even checking who owns a piece of art. It's a way to keep honest records.

Question 4

Who creates the blockchain?

Accepted Answer

A group of computers, called nodes, works together to make and keep the blockchain. No single person owns it; everyone shares it and makes sure it’s updated correctly.

Question 5

How does a blockchain stay secure?

Accepted Answer

A blockchain stays safe because many computers are checking the information all the time. They all have to agree on what’s true, which makes it very difficult for anyone to cheat.

Question 6

What is a block?

Accepted Answer

A block is like a page in the blockchain's notebook. It holds some information, and when it’s full, it connects to the next block, creating a chain.

Question 7

How do new blocks get added to the blockchain?

Accepted Answer

Computers solve hard puzzles to add new blocks. Once they solve it, everyone checks their work before the new block becomes part of the chain.

Question 8

Why do people talk about ‘mining’ in blockchain?

Accepted Answer

Mining is like digging for digital treasure. Computers try to solve puzzles to earn rewards, like finding gold in a mine, but it's digital coins.

Question 9

Can anyone see the information in a blockchain?

Accepted Answer

Yes, blockchains are open for everyone to see, like a public library. But they usually only show numbers and codes, not personal details.

Question 10

What do we mean by ‘distributed’ in blockchain?

Accepted Answer

Distributed means the blockchain is not kept in one place. It's shared across many different computers all over the world.

Question 11

Why is it called a ‘chain’?

Accepted Answer

It's called a chain because blocks are connected one after the other, like links in a chain. You can't change one link without changing them all.

Question 12

What are some things that make blockchain special?

Accepted Answer

Blockchain is special because it's secure, transparent, and can't be easily changed. This makes it trustworthy use for important records.

Question 13

What is a ‘node’ in blockchain?

Accepted Answer

A node is just a computer that is part of the blockchain. It helps keep track of all the information and makes sure everything is correct.

Question 14

Do blockchains need the internet to work?

Accepted Answer

Yes, blockchains usually need the internet so all the computers (nodes) can talk to each other and share information.

Question 15

How do people use blockchain without internet access?

Accepted Answer

Usually, people can't use blockchain fully without the internet. The internet is needed for sharing updates, but some offline transactions can be recorded and added later.

Question 16

What is ‘cryptocurrency’?

Accepted Answer

Cryptocurrency is digital money that lives on the blockchain. People use it to buy things or even save money, like dollars or coins.

Question 17

Is blockchain technology only for money?

Accepted Answer

No, blockchain can be used for many things other than money, like tracking packages, voting securely, or storing digital certificates.

Question 18

Why do blockchains need so much energy?

Accepted Answer

Blockchains need energy because the computers work hard solving puzzles to add new blocks. It's like running lots of computers at once, so it uses a lot of electricity.

Question 19

What makes a blockchain ‘public’ or ‘private’?

Accepted Answer

A public blockchain is open for everyone to join and view, like the internet. A private blockchain is limited to certain people, like a secret club where only invited members can enter.

Question 20

Is data on the blockchain really safe forever?

Accepted Answer

Yes, once data is on the blockchain, it stays there forever, trustworthy and safe. Changing it is near impossible, making it reliable for keeping important records.

The Fundamentals of Blockchain Technology - 20 FAQs Explained Simply