What is blockchain technology?
Blockchain technology is a type of digital ledger technology that records information. Especially transactional information. In such a way that they are almost impossible to change, hack, corrupt or cheat the system. These transactions are distributed and recorded along the entire network of computer systems on the blockchain. In other words, it is a decentralized distributed network that records various transactions in the form of blocks on the chain. Whenever a new transaction occurs in the blockchain, its record is recorded in the ledger of each participant. It is not possible for anyone to change this entry as every transaction is recorded in real time. This makes the whole process transparent. If someone were to try to modify or change it, he would have to change every block in the distribution chain, which is practically impossible. Not only this, these transactions in the ledger are authorized by the owner’s digital signature, making it more transparent. As a result, if someone changes or tries to change the system, it can be quickly identified.
Products based on blockchain technology (i.e. alternative currencies) like Bitcoin, Ethereum have gained huge popularity in the last few years.
Why is blockchain technology so popular?
One of the main reasons blockchain technology is so popular is its transparency and immutability. It is a decentralized peer-to-peer network system with no specific person in charge of managing or controlling transactions like other centralized, traditional transactions. This technology works on the mutual understanding of those who create it and those who use it. This is what makes blockchain technology more credible.
In the old system, a middleman was always needed to conduct one-to-one transactions. The best example of this is banks for money. When someone sends money to his friends or family, the bank is involved in the entire process. They document, monitor and can easily tamper with all records. It weakens the whole process. However, blockchain technology does not require intermediaries as it is an end-to-end technology. Hence, it is a digital ledger whose records cannot be easily tampered with or erased. Not only that, it makes transactions fast and secure.
This is why blockchain products like Bitcoin are widely used in finance, supply chain, healthcare, manufacturing.
Advantages of Blockchain Technology:
Blockchain technology has many advantages. Some of them are listed below:
- It is highly secure: Digital signature is used in this technology to make transactions fraud-free. Moreover not allowing any change or manipulation of user data without notification makes it more reliable.
- Has decentralized system: Other traditional transactions require the approval of some regulator or centralized organization that manages the transactions. Transactions in blockchain technology are based on the mutual consent of users. So there is no need of any third party intermediary here.
- Automated and Fast: This technology is programmed in such a way that it can perform various tasks and events automatically. Moreover, with no third party intervention, the entire process is fast, almost clock-wise.
Who are blockchain developers, how to become one?
Blockchain developers develop and optimize decentralized applications for blockchain protocols as well as architectures. Their day-to-day work includes, developing, programming and optimizing algorithms based on blockchain protocols and running blockchain nodes. Their skills and knowledge are related to 3D modeling and 3D content much like game developers.
However, applications developed by blockchain developers work a little differently than usual. For example, they work on a decentralized version of the Internet called Web 3.0. This makes the work of blockchain developers somewhat complex and challenging. Because web 3 standards are slightly different than normal web. So they need special knowledge and skills. Their work can generally be divided into two parts:
- Core Blockchain Developer: Core Blockchain Developers mainly interact with the blockchain at the very bottom level. Their work includes designing, developing and monitoring blockchain protocol and network architecture as well as overseeing the protocol and implementing various blockchain features.
- Blockchain Software Developer: Blockchain software developers primarily interact with blockchain technology at a high level. Their work includes implementing and incorporating algorithms developed by blockchain developers into their applications, developing decentralized applications running on blockchain mechanisms, creating APIs, designing and developing frontends and backends of applications, etc.
Blockchain technology has many noticeable skills gaps and the demand for its developers is at an all-time high. This is because there are many pre-requisites for becoming a professional blockchain developer, along with extensive skills and a wealth of knowledge. Below is the complete roadmap for blockchain developers.
- The first step is education. The individual must have a background in Computer Science or a related field. And like any other developer should know basic programming languages like C++, Java, Python. Also need to understand its data structures and algorithms. Must also have problem solving skills.
- The next step is to learn the basic and fundamental concepts of blockchain technology, including architecture and cryptography.
- After understanding the basics of blockchain, knowledge of the necessary developer tools and blockchain programming language is a must. This includes writing smart contracts, creating algorithms, and getting hands-on experience with the technology.
Below are the skills required to be a blockchain developer:
- Understanding Data Structures and Algorithms: Blockchain is a data structure based on cryptography that relies on algorithms for various tasks. So for this job one must have knowledge of data structure and algorithm.
- Extensive skills in programming languages: Programming languages such as C++, C#, JavaScript, Python, Ruby or Java are the most popular and necessary for blockchain technology. So, one must be proficient in one or more of these languages.
- Knowledge of Cryptography: Cryptography is a method of securing information using various techniques that are difficult to break or change without involving a third party. Blockchain technology is also based on cryptography for security. So, a blockchain developer must hone this skill.
- Introduction to Smart Contracts: A smart contract is a self-executing contract, i.e. a program or script that runs on the blockchain, monitoring transactions between parties while acting as an intermediary and allowing the exchange of services between them. So, familiarity with it is always a plus point.
There are various certificate courses online that can be chosen to learn and build a career in blockchain technology. This field is developing rapidly. As a result, it can be an excellent opportunity to build the future. So to become a blockchain developer you need to prepare yourself and become skilled.
