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The words you speak, Anon@10:48 are of course from the Wikipedia entry. ON the Talk Page of that Wikipedia entry you will find the following:-

"This article is essential worthless to the average reader, and indeed, even the seasoned computer engineer. The terminology is biased, incomplete and abstract, at best. Not to mention inaccurate with respect to computer science fundamental concepts (such as what a 'database' is). And thanks to a handful of "experts" - fighting over it continually, it has become a steaming mess. I will look elsewhere for a proper article."

The reason you've still no idea is because it's gibberish.

The reason it's gibberish is that by making things seem scientific and difficult to understand, gullible humans will be more inclined to "buy in" to some or other product or service whether it be Bitcoin or digital contracts, and it further avoids said gullible humans from understanding the actual underlying process.

What sounds better:-

"Pay me $100, and I'll give you a unique serial number that has a certain pattern. Currently, people want to have those unique serial numbers and there aren't that many of them, so they are going up in value. But they have no intrinsic worth, and the possibility exists that either it will become much easier in the future to generate numbers with that pattern, or that people will decide that possession of a unique serial number is not desirable, in which case they won't have value anymore".

or

"Buy $100 of Bitcoin. Using a distributed blockchain ledger, this cryptographically secure storage means utilises hash pointers to ensure resistance to modification. Bitcoins have gone up 3,000,000% in value".