Understanding Blockchain in 3 Minutes and 6 Seconds

You’ve heard the word blockchain everywhere in crypto conversations, but what exactly is it and how does it really work? In this video, Sami breaks it down for you the fundamentals of blockchain technology — why blockchain is called a decentralized digital ledger, how consensus mechanisms like proof of work and proof of stake keep networks safe, and what makes blockchain revolutionary beyond just crypto. Whether you’re new to crypto or just want a clear explanation from the source, this video gives you a solid foundation on blockchain technology and why it’s capturing the attention of governments, banks, and major corporations worldwide. In this episode, you will understand: ✅ What a blockchain really is and how blocks link together ✅ Why blockchain data is immutable and secure ✅ How decentralized consensus works to verify transactions ✅ The difference between proof of work and proof of stake ✅ Practical applications of blockchain beyond cryptocurrency ✅ Why blockchain is reshaping trust on the internet 📚 Resources: What Is Blockchain and How Does It Work? https://academy.binance.com/en/articles/what-is-blockchain-and-how-does-it-work ⏱️ Timestamps: ⏳ 0:00 – Introduction ⏳ 0:14 – What is Blockchain? ⏳ 0:42 – Why does a blockchain matter? Immutability, Decentralisation ⏳ 1:06 – Decentralised Verification: Nodes, Hashes, Consensus ⏳ 1:39 – Proof of Work (PoW): What it is, and other consensus mechanisms ⏳ 2:06 – What can you do with blockchain technology? ⏳ 2:37 – Why blockchain matters beyond crypto ⏳ 2:45 – Outro #blockchain #CryptoExplained #SmartContracts #binanceexplains #binance #bitcoin ⚠️ RISK WARNING: Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance is not liable for any losses you may incur. It is your responsibility to ascertain whether you are permitted to use the services of Binance based on your individual circumstances. Not financial advice. For more information, see our Terms of Use and Risk Warning. 📢 Join the conversation: ➡️ Twitter/X: https://x.com/binance/ ➡️ Instagram: https://www.instagram.com/binance/ ➡️ Facebook: https://www.facebook.com/binance/ ➡️ TikTok: https://www.tiktok.com/@binance/ ➡️ LinkedIn: https://www.linkedin.com/company/binance/ ➡️ Reddit: https://www.reddit.com/r/binance/ 🔗 Download Binance here (iOS, Android): https://binance.onelink.me/y874/cb98de36 🔗 Sign up for Binance here: https://www.binance.com/en?ref=ERQKP7ND&utm_source=BinanceYoutube&utm_medium=GlobalSocial&utm_campaign=GlobalSocial