Blockchain is a hot topic right now. Whether you are an investor, developer, or user, this is a technology that you must have a detailed understanding of. It is one thing to trade with an investment robot and a whole different affair to dip your fingers in the very essence of creating cryptocurrency tokens.
Of course, the depth of your learning varies with what you want to do with it but the point remains – there has never been a better time to learn the technology than now.
Whereas most of the techies who learn blockchain have a detailed understanding of programming languages, this is by no means a prerequisite for you to learn the technology. As a matter of fact, the only thing that you need is a passion for it.
If the passion does not come on its own, then you might be motivated by the knowledge that blockchain opens the way for high paying jobs.
What is Blockchain Technology?
You could view blockchain as a public ledger that cannot be corrupt and used majorly for recording economic transactions. However, the stuff recorded can be anything of value and not just financial transactions.
A blockchain is made up of data blocks attached to each other following cryptographic principles to form a chain, hence the name. One thing that makes blockchain so special and disruptive is the fact that it does not have a central authority.
Rather, it is an entirely decentralized and immutable ledger in which information can be accessed by anyone. Anything that is built on top of the blockchain is transparent and everyone is accountable for what they do.
There are no transaction costs in a blockchain. You will incur infrastructure cost but not transaction cost. This is the most brilliant way in which information is passed from A to B in the safest manner.
Its working is in such a way that one party will initiate a transaction by creating a block. Millions of computers in the network undertake the block through the verification process.
Upon successful verification, the block is added to the chain to create a unique record plus a unique history. If you wanted to falsify a block, you would have to fulfill millions of instances that were followed in creating the block, a virtually impossible thing to do.
You have every reason to start learning blockchain now!
- High Demand for Blockchain
The demand for blockchain is high in each sector. Different reports reveal that software engineers with a good grasp of blockchain technology have immense opportunities in the market. It is estimated that the demand for this skill increased by 517% within the past 1 year.
With full-time job openings recorded crossing the 10,000th mark, you can only expect such a demand to continue going up. The many vacancies that keep on cropping up are hard to fill because there are not so many people with the skills. That makes it necessary to get started with advancing your skills. It would be a worthwhile investment.
There are numerous online programs and university courses designed to bridge the gap between available skills and demand. When you start learning now, you could set yourself on the right path to being recognized by organizations. You will play a role in mitigating the frustrations faced by companies as they try to integrate blockchain-focused solutions.
- Cutting-Edge Technology
Who doesn’t want to be exposed to the world’s latest cutting edge technology? Blockchain is exactly that. All companies are rushing to get a feel of what the technology can do for them, their clients and stakeholders.
The essence of blockchain surpasses what analytics and robotics have been able to offer. This is an area that any serious firm is making immense investments with the aim of drawing new value for their business processes.
With blockchain, businesses are able to exchange information automatically and with a high level of transparency and encryption. At a time when businesses are struggling with their data getting stolen, blockchain technology comes in as a savior. It safeguards their data so that they can focus on growing the business.
There are so many exciting solutions that blockchain promises for the world. Most of these solutions revolve around problems created by the Internet like data security, intellectual property rights, and payment protection. This is something you would like to be a part of.
- Future Growth
Some may argue out that it makes no sense to invest your time and resources learning blockchain when it is yet to start paying massive returns to organizations. Whereas it is true that great returns haven’t trickled in yet, it sets the right stage for firms to set up long term growth plans.
As industry 4.0 takes over the world, the future growth of firms is based on how well they will have implemented the technology. Blockchain is unlocking never-seen-before business flexibility, higher efficiency, and new capabilities that can be leveraged to respond to market changes.
There are firms that have already made smaller investments in the technology and are witnessing significant changes in their systems. This only serves to prove that the future looks brighter with blockchain.
- Revolutionize Entertainment Industry
Blockchain, without a doubt, has great potential for the entertainment sector. Selling recorded music could become more profitable as artists eradicate the need for companies and distributors such as Spotify or Apple. It could even be possible to encode this music inside the blockchain to transform it into a cloud archive for bought songs and movies.
Since the amount charged is greatly low, streaming services and subscriptions would be rendered irrelevant. Artists would be able to deal directly with their fans. More people would be able to afford and the revenue received by artists increased by five-fold.
How to Get Started With Blockchain
If you are wondering how you can get started with this technology, do not worry, it is much simpler than you thought. There are several good places that you can have an easy time getting started.
If you set aside a considerable amount of time to learn the technology, you will be valuable for years to come. These are the skills that would set you apart as a blockchain developer as opposed to a regular developer.
All you need is just to find a course that can meet your needs and expectations.
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