Blockchain Mechanics - Understanding Consensus
Channel: Velas Commerce
Date: 2020-10-20

To understand what blockchain applications and use cases make sense, you need to understand what a blockchain actually does. In this video we walk through blockchain mechanics. And don't worry, no technical knowledge is required to follow along with this video. 

00:00 Blockchain Mechanics overview
00:37 The problem that Bitcoin was built to solve
01:40 The double-spend problem
02:38 How do you create digital scarcity?
04:08 How Bitcoin solves the double-spend problem
05:00 How a double-spend is avoided
06:46 Bitcoin mining overview
09:08 How mining prevents a double-spend
11:24 Who are Bitcoin miners?
12:26 Perspectives on blockchain technology
13:25 Blockchain architecture 
14:25 Blockchains are not databases
14:50 Blockchain characteristics

The Bitcoin whitepaper: https://bitcoin.org/bitcoin.pdf 

Learn more on our blockchain resource page: https://www.velascommerce.com/blockchain 

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