Simple metaphors and analogies for explaining crypto and blockchain?

1 answers
1 votes
Simple metaphors and analogies for explaining crypto and blockchain?
asked
[social_warfare]
Do you have helpful metaphors, analogies, similes, etc. for describing crypto and/or blockchain? 

When it comes up in conversation with others who aren't familiar with the space, I often find myself using technical words and losing people's interest. What are some ways you get around this and strike that balance between oversimplification and too technical?

Answers

newest most voted

Protocol XYZ works as intented by incentivizing the members of its network to do a certain task.
One of those tasks could be computers worldwide (decentralized) contributing their power to keep the protocol resistant/immutable, hence the term Block-Chain.
Imagine a solar panel receiving sunlight: The solar panel is the protocol & the sunlight is the computing power provided by the members/contributors.
As long the solar panel receives the sunlight, it’s working & converts the energy (hashing power) into electricity (validating the requested transactions into the Blockchain/ledger).
If it doesn’t receive the sunlight, it’ll stop working.

This is but one of many other consensus methods.

Data that is secured by computer algorithms. That data can either be public or private. Computers who participate in the securing of the system/network get rewarded and its not worth the time, money, or effort to try and hack or cheat.

Ps. I tried to be as basic as possible…

Hungry for knowledge?
New guides and courses each week
Looking to invest?
Market data, analysis, and reports
Just curious?
A community of blockchain experts to help

Get started today and earn 128 bonus blocks

Already have an account? Sign In