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 'Zero and infinity always looked suspiciously alike. Multiply zero by anything and you get zero. Multiply infinity by anything and you get infinity. Dividing a number by zero yields infinity; dividing a number by infinity yields zero. Adding zero to a number leaves it unchanged. 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Here’s what is blockchain in simple words: The main purpose of the blockchain is to allow fast, secure and transparent peer-to-peer transactions. It is a trusted, decentralized network that allows for the transfer of digital values such as currency and data. Now, as we’re all newbies here. Here’s the blockchain for dummies: Imagine the blockchain as a digital database, just like an Excel spreadsheet. This database is typically shared across a large network containing many computers (known as “nodes”) and it is completely public. I say “typically” because it can technically be formed by any number of nodes. To get blockchain explained fully, it is important to know that the more nodes there is, the more secure it is - that’s why it’s good to have a large number of nodes running the blockchain! Every time the network makes an update to the database, it is automatically updated and downloaded to every computer on the network. Blockchain technology is secured with cryptographic techniques, making it near impossible for hackers to make changes to it. The only way to make changes would be to hack more than half of the nodes in the blockchain, which again, is why it is more secure to have more nodes/computers running the blockchain. That’s your blockchain explained in simple words. So, now when someone asks you “what is blockchain?”, you have two strong answers to choose from. How Does Blockchain Work in the Case of Bitcoin? Bitcoin was the first cryptocurrency to use blockchain technology. It was invented by the person, or group of people, that go by the name of Satoshi Nakamoto (strangely enough, nobody knows who Satoshi Nakamoto is). The sole purpose of Bitcoin is to act as a store of value. It allows for peer-to-peer transactions that do not need a third party, such as PayPal or a bank. Getting Bitcoin blockchain explained is essential to understanding how blockchain works. The Bitcoin blockchain is a database (known as a “ledger”) that consists only of Bitcoin transaction records. There is no central location that holds the database, instead, it is shared across a huge network of computers. So, for new...