The simple explanation of what is Bitcoin is that it’s money that you can send to other people on the internet. It is like sending an email, but instead it’s a bitcoin.
The problem is that of course this explanation is not enough for anybody to understand it!
The structure of how it works and the different parts and components are so many and complicated that the story turns a little bit longer.
Fortunately there are people like Scott Driscoll, founder of the successful YouTube channel Curious Inventor, that are trying to find simpler ways of explaining Bitcoin.
He created the best video that talks about how the digital currency works “under the hood”. This is to say how the Bitcoin network and software work to create this secure and now so popular form of money.
In this interview I ask Scott about:
– His background and what is Curious Inventor.
– Why he created the “Bitcoin Under The Hood” Video.
– How does the Bitcoin network work?
I also asked him some details about the different parts and functionality of the software:
– What is the ledger?
– What is double spending?
– What do they mean by mining?
– The ledger is divided in blocks? What is the block chain?
Please watch the video below: