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Simple metaphors and analogies for explaining crypto and blockchain?
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?
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Navi7 @russu-jpm-me
Navi7 @russu-jpm-me
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.
Carlos Hernandez @carlos-hernandez
Carlos Hernandez @carlos-hernandez
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…
Leland Afunaar @leland-afunaar
Leland Afunaar @leland-afunaar
How you solve these equation?
2^x + 4^x = 8^x
What is X?