00:00Hello everyone, welcome back to our channel where we explain the topics of the cryptocurrency world using analogies, stories and
00:07examples so that even your grandpa could understand them.
00:10In this video, we're going to use a story to explain the difference between block and crypto, so let's get
00:16started.
00:16Once upon a time in a far away land, there was a small village that had a big problem.
00:21See, the villagers would go to the market and buy things using their money, but then sometimes they would lose
00:27their money.
00:27Sometimes it would be stolen or counterfeit, and this cost the villagers lots of money each year.
00:33The mayor of the town was tired of this, it wanted to find a solution so that the villagers could
00:38feel safe in the town and while also making transactions easier.
00:42The mayor went to the local university and asked the smartest professors if they could help solve this problem.
00:47After some time of thinking, they came up with an amazing idea, something that would revolutionize the way the villagers
00:53did their transactions and would make them much safer.
00:56Let's fast forward a bit here, because the professors had actually come up with two different ideas.
01:02The first one was what we will call a ledger.
01:05This is basically a record book that records every transaction that happens in the village.
01:10Whenever someone buys something from the market, they write down who bought what and how much they paid for it.
01:15Then at the end of the day, the store owner can check out the book to see who owes them
01:19how much.
01:20The second idea they came up with was to issue everyone in the village a coin.
01:24These coins were special because they had a unique code on them.
01:27That meant that if someone tried to copy one, they would be caught.
01:31We'll call these coins crypt.
01:33So, the mayor was very happy with these two new inventions.
01:36The ledger because it allows us to keep track of everything that happens in the village and the crypt.
01:41Because now people do only have to worry about their money being stolen or counterfeit.
01:46Everyone could use these new crypts and the ledger to do their everyday transactions without fear.
01:52Let's go.
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