The human race is indomitable. Humans are adaptable to change, humans learn along the way. It is often said that one never stops learning. We simply perfect one craft and then move on to the next while polishing the first one. If we stop learning, we stop growing.
Why Become a Blockchain Developer?
In modern times it is natural for us to take paper money and coins for granted. That is what we have seen and used ever since we can remember. There was a time very very long ago when the monetary value was attached to objects.Today we have come a long way from that. Yes, today a need there to understanding the emerging technology i.e. Blockchain. Blockchain is assumed to be the Future of Digital World.
Understanding the Basics Of Blockchain
A Blockchain is a growing list of records which are called blocks. These are linked and secured by cryptography. Blockchain is a ledger which keeps track of all cryptocurrency transactions. “Blocks” or completed transactions are constantly added to the chain, making it a transparent process and decentralized at the same time. This transparency is the reason why more and more people trust and invest in cryptocurrencies everyday. There is no governing body or authority that controls Bitcoin or makes any decisions pertinent to Bitcoin. Anything that happens, is there for people to see. Cryptography is used to add the blocks, which means that transactions – once done – cannot be reversed or undone. Blockchain is the leading technology behind Bitcoin. Whenever someone pays another person in Bitcoin for any service or good, the transaction gets recorded in the blockchain for everyone to see and/or validate.
How The Blockchain Process Works?
Blockchain as a technology can be implemented in various industries such as finance, healthcare and automobile among others. The fundamentals remain the same, even if the implementation is different. Blockchain is a ledger in digital form that gives us a secure way to make transactions. Blockchain banking will be hack-proof; within a minute, transactions with a negligible fee in intercountry transactions will be possible, among other things. In 2017, 140 healthcare agencies were victims of hacking because of outdated infrastructure. Blockchain technology enables storage of vital documentation such as medical records and shares with the concerned patients or personnel. This can reduce the speed of diagnosis, improve the quality of diagnosis and provide better security to information everywhere. There is a blockchain named as Ethereum blockchain. Devised by a Canadian by the name of Vitalik Buterin, a 22-year-old, this blockchain has some extraordinary capabilities. One of them is that you can build Smart Contracts. Does someone want to listen to a song? It’s a few rupees that flow into a digital account of yours. Does someone want to make a ringtone? That’s different. Your song will become a business. Because the song has a payment system in the sense of a bank account – all the money flows back to the artist and they control the industry, rather than powerful intermediaries. And that’s a wonderful thing.
So these are some cases out of the countless problems that Blockchain is applicable to and in the coming decade, it will change the way of our life. It may have some flaws at the moment but there is no doubt that it is here to stay. One of the ways to stay up-to-date with the changing times is to develop systems and processes that implement Blockchain.
Let’s get Coding!
One also needs to be technically sound with regards to cryptography, as security is one of the Unique Selling Points for cryptocurrencies. The concept of public keys and private keys need to be clear to the aspiring Blockchain developer. Public keys and private keys play a big part in cryptocurrencies, as a private key is information about the actual money being transferred and public keys are the links to the Blockchain which are visible to everyone. Implementation of the hash function is also vital for cryptocurrency scalability. Since no cryptocurrency is on any one machine, the aspiring developer also needs to know about distributed systems, which are pertinent to the difference between the various consistency models and algorithms. A brief knowledge of computer networks is also good to have, including but not limited to, the model of packets, different protocols such as UDP, IP and TCP, and the basics of internet routing among other things. The final aspect of Blockchain is gamification, which is the conversion of regular processes and systems to concepts of game theory, which make the concept at hand more interesting, understandable and fun.
It is safe to say that cryptocurrencies are the future. One just needs to know the basic principles behind them. It is only when do we know everything about the present, can we go ahead with building a future.