What is Blockchain? | Is Blockchain is new Future?
What is blockchain? All you need to know about Blockchain.
A blockchain is a database, shared
between nodes of computer networks. It is meant to store the data in an
electronic format. A blockchain as name suggest it stores information together
in type of blocks. Unlike database which store information in form of table.
It’s like a container, with its specific capacity and once the capacity of
block is filled it closes and get linked with other closed block.
Blockchain role in cryptocurrency
Blockchain are known for thier importance in cryptocurrency
• In Bitcoin’s case, blockchain is used in a decentralized way so that
no single person or group has control—rather, all users
collectively retain control. Absence of any third party to manage and
store information makes it trust worthy for common
people.
The key feature for blockchain is its immutability, so all information,
history is permanently stored in that particular block. So as to meet the moto
that, digital information can be stored, exchanged but not edited.
Blockchain Today
Blockchain is used mostly in various cryptocurrencies, decentralized finance
(DeFi) applications, non-fungible tokens (NFTs), and smart contracts.
Blockchain currently holds very low percent of GDP, but it is estimated that
the part of blockchain increases significantly in next decade
What are number of Blockchains till 2022?
There are around 10000+ cryptocurrency blockchains which are growing at good
speed, are hundreds of non cryptocurrency blockchains operation in different
forms.
Pros and Cons of blockchain
Pros
• Very effective
• Cheap
• No third party
• Transactions are secure
• Transparency
Cons
• High technical cost
• Less transactions speed
• Data storage problems
• Currently uncertain
• Global warming
Now what next to Blockchain?
Owing to the security, efficiency, transperancy, absence of third part,
blockchain finds importance in not only cryptocurrency world, but also for
government operation in upcoming times. Also blockchain will be implied at
small scale business in future.
Reading this blog you might have got the basic idea of what blockchain
actually is. Now lets see how one can be a blockchain developer.
There are two blockchain developers
1. Core blockchain developer
2. Software blockchain developer
CORE BLOCKCHAIN DEVELOPER
• Plans the architecture for the blockchain network.
• Design and carry out various functions, features, in blockchain.
SOFTWARE BLOCKCHAIN DEVELOPERS
• Manages frontend and backend for the blockchain on decentralized
apps,websites.
• Develops API's for intergration of blockchain.
Roadmap:
• You can start with any of C++, Python, Java like OOP languages to get basic
idea about programming
• Learn how database are managed and learn about networking.
• Learn about Data Structures and Algorithms, which will help you in learni g
of data managment.
• Cryptography, plays most important role in blockchain developmemt like
hashing, digital signatures, to help on the journey of blockchain
development.
• Get basic idea about Smart Contracts, basically used for automation purpose
to eliminate the third part interfernce concept.
• Get into the actual world, by joining various Blockchain related groups,
getting updated with the new techs in blockchain field and getting some hands
experience.
For more such informative blogs visit
opemic ;
Let's start our technical journey from here.
Thanks for reading the blog!