Magnimind Academy

Blockchain: How can we use it and what skills are required to learn?

Most likely you have already come across the term blockchain which is taking the tech world by storm these days. Put simply, blockchain can be considered as a digital ledger where facts are kept in data blocks. These data blocks are connected to each other through cryptographic validation. The entire system leads to an immutable record of data which is managed by a cluster of computers. Let’s see some most common use cases of blockchain to understand why experts call it one of the biggest disrupting innovations ever.

1- Popular blockchain use cases

1.1- Improved supply-chain communications

The majority of products that we purchase aren’t manufactured by any single entity. Instead, there remains a significant number of logistics and raw materials suppliers for a specific product before it comes to the market. Probably the biggest problem with such a system is if one single component fails, the entire brand has to experience negative outcomes. With the help of blockchain, it’s possible to clearly pinpoint the stage where the product has reached within the chain.

1.2- Distributed storage

These days, most people different types of storage services which aren’t immune to institutions that can force them to disclose the information. However, on the blockchain, data remain decentralized and stored in different high encrypted devices on a network. This leads to reduced risks of potential data breaches.

1.3- Unmatched IoT

IoT is all about the network-controlled management of specific types of electronic devices. With the help of smart contracts, it’s possible to automate the remote systems management. A combination of software, the network, and sensors facilitates an exchange of data between mechanisms and objects which leads to improved cost monitoring and increased system efficiency.

2- Skills required to become a blockchain developer

These days, more and more businesses are planning to adopt blockchain to reap the advantages of the technology. As a result, they’re looking for the right talents to help them drive results. If you too are interested in learning blockchain, here’re the skills you should focus on.

2.1- Data analysis

One of the greatest benefits of blockchain is data. To become a successful blockchain developer, you’d need to someone who can understand data and make use of it to be presented to a wide range of people across the business.

2.2- Programming

Like all other software-based implementations, blockchain also requires programming knowledge to work with. One of the most popular languages in blockchain development is C++ which you might have already learned. It’s advisable to have a good understanding of a few programming languages including C++, Python, Ruby, Java, and Solidity.

2.3- Business acumen

In the future, blockchain is going to impact every industry and every organizational role. Therefore, it’s highly crucial to understand a business thoroughly as the technology works in a way where every entity has a unique access and view.

Conclusion

If you’re interested to step into the field of blockchain, this is the best time. The fundamental tools of building blockchain applications remain the same virtually. And you can easily find a good number of reputable institutes that offer specialized courses on the technology that would make your journey of becoming a blockchain developer much easier.

.  .  .

To learn about blockchain, click here and read our another article.