Back to Basics

Key Takeaways

  • This is a Beginner video introducing Blockchain Technology.
  • Blockchains and Cryptocurrency are not the same thing. The underlying innovation is Distributed Ledger Technology (DLT).
  • Transparent blockchains can be an advantage and a disadvantage depending on your perspective.
  • The majority of cryptocurrencies are not decentralised. Meaning there is often a company behind it.
  • The most common consensus models are Proof Of Work (BTC) and Proof Of Stake (ETH).

00:00 What Is Blockchain?
00:55 Blockchains
01:37 Blockchain vs Crypto
02:30 What’s the big deal?
03:27 Data Ownership
03:55 Transparency
04:18 Consensus

In light of recent events in the crypto industry, going back to basics can have compounding effects on your cryptocurrency journey.

We’re currently updating our beginner resources; keep an eye out for more fantastic educational content into 2023!