For the little ones: how to explain Bitcoin to a five-year child?

The famous American physicist Richard Feynman was part of the team of developers of the first atomic bomb and became the Creator of quantum electrodynamics and popularizer of science in the twentieth century. What Feynman is credited with the famous quote “If you are a scientist and not in one or two words to explain a child of five, what you do — you’re a charlatan”. And you can explain to a child of five, what is Bitcoin? We will help you to establish contact with children.

The following adaptation of the article Camille the main type for the Medium.

The contents

Digital apples

You two sit on a bench in the Park. Beautiful weather, and you have in your hand an Apple. You decide to give an Apple to his neighbour. Now it is in the hands of someone else. Everything is simple, isn’t it?

Let’s see what happened. One person transfers to another Apple. Both participants of this event, touch the Apple and believe that it passed from hand to hand. For such a simple action they do not need a third person. The new owner of the Apple can not get away from his neighbor at another bench, as that is simply nothing.

Here is the direct exchange of any thing, be it a banana, a book, or a dollar bill. But how does all this relate to Bitcoin?

You have in hand one digital Apple. You pass it to another person. How to understand that it changed hands and you won’t be able to bestow its neighbor on the bench an endless supply of digital apples? Maybe you first made a few copies and sent them to his friends. That’s why in this example, the exchange process is slightly more complicated — the transfer of digital objects is very different from passing the physical.

Do scientists have a clever name for this phenomenon — the double-spend problem. Her decision could not find. Up to recent times.

From the notebook to the blockchain

Perhaps digital apples it should be noted in the Ledger book where there is information about all transfers apples from person to person. Since the items are digital, therefore the notebook must also be digital (the blockchain). In addition, it exists somewhere, and someone is watching her fill.

Source: Medium

Take, for example, World of Warcraft. Blizzard — the team that created this game — has a digital address book with all the rare flaming swords that exist within the World of Warcraft. Cool, so they can help us with our digital apples!

It is not so simple

Immediately raises two questions:

  • what if someone at Blizzard decides to take advantage of their opportunities and to copy more of Apple, not recording it in the digital book?
  • why do we need intermediaries? After all, the presence of Blizzard will be equal to the third person-the judge on the bench. It is he who will decide what you handed an Apple to his neighbour.

Is there any way to share digital objects directly? A difficult question.

The decision

What if we distribute each digital address book? So it will be in every computer, not just Blizzard. All transmissions are digital apples will be displayed for each user. This system impossible to cheat, because copying apples villains will not agree with the records in the address books of others.

In addition, because one alone does not control the whole process. The rules of the exchange prescribed from the very beginning, and they cannot be fooled. The system is completely open, so everyone can learn more to examine all aspects of it. Here is how it works Bitcoin!

Source: CCN

Finally, the transmission of digital apples has other benefits. You can send as whole Apple, and just a small part of it — 0.000001 Apple. Also, they can convey not only the neighbor on the bench, but a friend on the other side of the world literally instantly! It’s even better than money, isn’t it?

Come to our cryptcat, here we will tell you in detail about the most difficult.

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