Question 1

What is blockchain?

Accepted Answer

Blockchain is like a big digital notebook that everyone can see. It's a place where information is kept safe in blocks, and each block is connected like a chain.

Question 2

How does blockchain work?

Accepted Answer

When someone wants to add information to the blockchain, everyone checks it to make sure it's correct. Once it's checked, the information is stored in a block and linked to other blocks.

Question 3

Why is it called 'blockchain'?

Accepted Answer

It's called 'blockchain' because information is stored in parts called blocks. These blocks connect to each other, forming a chain.

Question 4

What is a block?

Accepted Answer

A block is like a page in a book where information is written. When the page is full, a new page, or block, is started.

Question 5

How do blocks connect?

Accepted Answer

Blocks connect one after another in a straight line, like a chain. Each block has something like a special glue that sticks it to the next one.

Question 6

Is blockchain safe?

Accepted Answer

Yes, blockchain is very safe because once information is added, it can't be changed easily. It's like writing with a permanent marker.

Question 7

What is a digital currency?

Accepted Answer

Digital currency is money you can't touch, like numbers on a screen. It's like using points in a video game.

Question 8

What does 'decentralized' mean?

Accepted Answer

Decentralized means there isn't one boss. Instead, many people work together, and everyone has a say.

Question 9

Why can't we change what's in a block?

Accepted Answer

Once a block is added, it's locked in, like a sealed envelope. This helps keep information trusted and safe.

Question 10

Who invented blockchain?

Accepted Answer

A person or group named Satoshi Nakamoto invented blockchain. We know their name, but no one is sure who they really are.

Question 11

What is a 'ledger'?

Accepted Answer

A ledger is a way to record things, like a diary. In blockchain, it's a digital notebook that everyone can look at.

Question 12

How do we know that information in a block is correct?

Accepted Answer

Before adding a block, everyone checks the information. It's like a team making sure their homework is correct before they hand it in.

Question 13

What is the 'internet' in blockchain?

Accepted Answer

The internet is like a giant spider web connecting computers all over the world. Blockchain uses this web to let different computers talk to each other.

Question 14

What does 'peer-to-peer' mean?

Accepted Answer

'Peer-to-peer' means two people or computers are talking directly without someone in between. It's like you and your friend passing notes without a teacher seeing.

Question 15

What can blockchain be used for?

Accepted Answer

Blockchain can be used for things like keeping records, showing ownership, and even playing games. It's a helpful way to keep information safe and correct.

Question 16

Why do people use blockchain for money?

Accepted Answer

People use blockchain for money because it's safe and you don't need a bank. It's like having your own piggy bank but on the computer.

Question 17

Can anyone see the blockchain?

Accepted Answer

Yes, blockchain is public, so anyone can see it. It's like a poster on a wall that everyone can read.

Question 18

Does blockchain work without the internet?

Accepted Answer

No, blockchain needs the internet to work. It's like a video call that can't happen without being online.

Question 19

Is blockchain the same as Bitcoin?

Accepted Answer

No, blockchain is the technology, and Bitcoin is a type of digital money that uses this technology. It's like video games use computers, but they're not the same thing.

Question 20

What is a 'transaction'?

Accepted Answer

A transaction is when you give or receive something, like money. In blockchain, it's recorded in a block to show it happened.

The Principles of Blockchain Technology - 20 FAQs Explained Simply