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Tag: Blockchain Technology

How to Start a Career in the Blockchain?

Posted on by Imarticus Learning
Reading Time: 2 minutes

In the past three years, blockchain has presented itself as the next generation solution for many of the problems faced by the tech world. Recognising its potential, various governments and industry titans have provided powerful endorsement to this technology. Blockchain was developed as an underlying technology for cryptocurrencies, and right now it is being adapted to a large number of industries.
Health care, financial technology, real estate, supply chain, logistics and education are a few sectors who are adopting this technology to make an improvement. With demand for blockchain rising day by day, the career opportunities are also looking very bright. The TechCrunch report suggests that there are 14 job opening for each blockchain developer. So, how do we prepare for this huge opportunity lying ahead? We will discuss in this article.

Education in the Blockchain Technology

Since the blockchain is still in its early stage of development, the career path in this technology is going to be very different from others. With blockchain continuously evolving, you will have to improve your skills regularly. The following steps will help you start a good career in the blockchain.
Understanding The Basic Concepts

The understanding of its unique value proposition is the basic building block of blockchain education. Features such as decentralisation, smart contracts and Dapps are not just buzzwords. They are the elements of the blockchain. An intimate understanding of these features is necessary for a successful career in the blockchain. Technical skills such as JavaScript for website development and Solidity for the development of smart contract can be beneficial to excel in Fintech career.
Some Cryptography Lessons
Cryptography has been picking up popularity with more and more assets moving online. Blockchain’s ability to protect and secure online assets is primarily a function of cryptography. Organisations are seeking skilled cryptographers to upscale their cybersecurity. A high-level Cryptography course from any reputed online sources will equip you with the necessary skills for this.

Distributing Computing Theory And Its Applications

With reliability and security emerging as most pressing worries, distributed computing is the solution offered by blockchain. Even though the applications are limitless, the technology is not yet ready for commercial use. The deployment of this tech is delayed by the excessive energy consumption of these systems and so many other issues such as scalability. But, as a student of blockchain technology, you will have to understand this technology and develop solutions for its successful implementation.

Reach Out the Blockchain Community

There are hundreds of cryptocurrency projects happening around. You can use them as an on-job-training mechanism. Reach out to some reputable, verifiable start-ups and provide your service and intake the valuable lessons from these experiences. Starting this way will give you the leverage of both work experience and networking with the right people from the industry.

Make Your Own Path

The blockchain job market offers a huge amount of opportunities, with a proper skillset and attitude anyone can make use of it. Rather than investing years at an academic institute, the DIY steps above will help you find a prominent position in the ongoing blockchain revolution.

Advantages of BlockChain Technology

Posted on by Imarticus Learning
Reading Time: 3 minutes

All the buzz behind Bitcoin and its profits have made it hard to stay away from doing your research regarding cryptocurrencies and the blockchain technology. Bitcoin was sold at a mere $1 each back in 2011. In the year 2017, the value of each Bitcoin was well over $16,000, all thanks to the world of blockchain and cryptocurrencies.
BlockChain technology
The blockchain merely is a public digital ledger that records transactions of cryptocurrencies in a transparent yet secure manner. It uses a decentralized environment which means that there are numerous networks of computers that hold interlinked data which is owned as well as run by the users themselves.
Also Read: Future of Blockchain Technology

What are the advantages of BlockChain technology?

Transparency

As opposed to a banking system where no user is allowed access to another user’s transactions, the blockchain technology allows all users across the globe access to view another user’s operations. Transparency leads to 100% transparency of sales on the portal which ensures that no user can alter or delete any transaction without another user noticing this event.

Security and Reliability

Since the blockchain networks are decentralised, there is no central point of failure in the system. Loyalty means that there are no weak points in the net from where any information can be hacked. This also prevents any malicious attacks from occurring, thus improving the overall reliability of the network. Apart from this, every blockchain transaction has to be digitally signed through a shared public and private key. These keys use different cryptographic schemes which make sure that any transactions are entirely encrypted. Thus, connections established are 100% secured.

Accurate Accounting

Since the blockchain network is a virtual network, recording sales and keeping a tab on them are also done virtually. This process is free of human interference, which increases its reliability. Any record that is passed from one blockchain to another is verified at every step to ensure that it is as accurate as can be. Processing these records on a digital platform also provides that a traceable audit is left behind in case of any discrepancies. Another advantage is that since all records are maintained under only one registry, the integrity of the financial records of any organisation is also guaranteed.FinTech Banner

Quality Assurance

In case there is any irregularity or inconsistency detected along the supply chain, then the blockchain network will lead you to the origin point of the defect. This not only helps determine the starting point of the error but also cuts down on time required to carry out the necessary investigation. An excellent example of this concerns the food sector. Here, tracking of origin and bath information are incredibly crucial to ensure that is food is safe, and quality assured. In such a scenario, blockchain plays an important role.

Use in Applications such as Stock-Exchange

Since blockchain is a secure and reliable system which allows users to process transactions transparently, stock-exchange organizations are now considering block-chain technology for its commodity trading operations. In the year 2017, a start-up in Australia called “Digital Asset Holdings” started working on a system that is powered by the block-chain technology for stock-exchange in Australia.

Traceability

Another advantage of the blockchain technology is that not only is it cost-effective but it is also easily traceable. Thus, in the case of supply chain management, blockchain can be used to track the origin of goods their quantity as well as the movement of these said goods. This leads to an improved level of transparency between business ecosystems while simultaneously simplifying production processes.
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