Hello, in this lesson we are going to talk about Ledger's. We mentioned them before. So what exactly is a ledger? In general Finance? ledger is essentially a book that hold transactions. In the case of blockchain, we'll talk about one of its own the most popular implementation blockchain Bitcoin.

So in the case of Bitcoin, but this is the same principle for any sort of decentralized distributed system on blockchain is very similar. It is essentially a database. So, a ledger a Bitcoin ledger is nothing more than a database and this database though, all didn't go quite right. Yes, just go to that store all the transactions that have ever occurred within that system or Bitcoin theory doesn't really matter whatever it is, it stores all the transactions on top of that it is public so anyone can go and view it a great website to view it is block chain dot info free to view for everyone as long as you have a internet connection and it is distributed, it is decentralized. So no one person can take it down that that is what makes these what make makes blockchain and implementations. So good is the decentralized nature of it.

So the ledger might look like the structure of it. This is obviously a very small ledger, in comparison to the exercise might look something like this. So we might have an ID column, we might have a send collar receive a collar, so in the case of Bitcoin, sending and receiving bitcoins, and let's say we have a timestamp, there's more information than this, but it's just, again, a simplification. I would say, the ledger at the moment has free transactions. So this is early days to zeros or ones. 0200 free.

And I'm going to say, well, let's just use normal name. So Bob sent something to Tom. And Tom sent something to me. And my name is for hiring if you did not know that, and for a horn, sent something to Bob. And one thing I literally just forgot, is the actual amount that we're transferring. They've actually quite a crucial part.

So I want to split this into two. So we'll have a mount and we'll have a timestamp. So the amount doesn't really matter what the amounts are. Bob sends off a Bitcoin to Tom, Tom sends 5000 bitcoins to me. Very well done Tom. And then for Hon, aka May I just send a measly 0.001 bitcoins, I want to keep them all for myself.

And the timestamp, we can say is first of January 2017. This is a occurred on the 10th of October 2018. And this one occurred on again, the first of January 2025. So yeah, there's quite a big gap between these transaction but you get the picture. It is a public database, which holds all of the transactions that have occurred and will occur obviously, they don't hold them at the moment if they haven't occurred yet, but they will hold them and it's free to access by anyone. As I mentioned, a great website to access them is block chain dot info, nothing more to it than that simply a open, public decentralized, distributed database of all the transactions are occurring within that blockchain implementation.

Thanks for watching. If you have any questions, feel free to reach out. And as usual, I will see you in the next lesson.