[3brown1blue]. (2017, Jul 7). Ever wonder how Bitcoin (and other cryptocurrencies) actually work?
[Video file]. Retrieved from https://www.youtube.com/watch?v=bBC-nXj3Ng4
This video from Youtuber, 3blue1brown, attempts to explain how cryptocurrencies work and the underlying blockchain technology from the viewpoint of inventing your own cryptocurrency. This video touches on all the basics that it takes to understand the differences between cryptocurrencies and why there is so much “hype” about this new technology.
This video does a great job at getting into the details of how a cryptocurrency works. It is important for people who are interested in investing in cryptocurrencies to understand how the technology works. This Youtuber, 3Blue1Brown, does a great job of avoiding convoluted analogies like you will find from most explanations of cryptocurrencies on the web. The animation style used in the video is simplistic but manages to still be informative and is filled with fun and easy examples. This video also does a great job explaining the importance of hashing in the cryptocurrency protocol, which I did not realize until watching. It also does a great job of giving the viewer all the basics needed to understand the differences between cryptocurrencies. In addition, it provides a base of knowledge for anyone looking to do the deeper reading that is needed to fully understand cryptocurrency. There are also useful resources in the description of the video, which I found helped further expand my knowledge of cryptocurrency and blockchain technology in general. Overall, I would recommend this video as a good first look for anyone who is interested in understanding the technology behind cryptocurrency.