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Watch an expert explain blockchain technology to five different people: a child, a teen, a college student, a grad student, and a fellow expert.

Findings

Additional insights we found via WIRED

  1. Blockchain, the key technology behind bitcoin, is a new network that helps decentralize trade and allows for more peer-to-peer transactions.

  2. Most cryptocurrencies rely on blockchain technology.

  3. Blockchains are the digital equivalents of public ledgers: On a blockchain, every transaction is recorded and bundled into a "block."

  4. That block is then added to a long "chain" of blocks that anyone—aside from certain instances of private blockchains—can view and verify.

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