What Is BlockChain Technology
What is a blockchain?
A blockchain is a type of database used to store and organize information. Traditional databases arrange information into rows and columns that make up tables. This makes the information easy for computers to recognize. With blockchains, however, information is digitally formatted and collected into clusters or blocks. Each block has a limited storage capacity.
Once that capacity is reached, the block closes and links to the preceding block via cryptography, creating a chain. Cryptography creates an unchangeable timestamp when one block links to another. This permanent record verifies the accuracy of sensitive information like transactions. Traditional databases, on the other hand, are typically controlled by a central authority. Sensitive data may be managed and maintained by an organization or administrator.
What is blockchain development?
Blockchain development refers to building, maintaining, and designing blockchain applications and systems. Overall, it seeks to use the unique features of blockchain technology to solve problems and create opportunities.
An example of innovative blockchain development is the smart contract. Smart contracts are documented agreements between two parties, just like regular contracts. Unlike ordinary contracts, however, smart contracts are also programs stored on a blockchain. These programs are triggered to run only when both parties meet the agreed-upon terms and conditions. This automated compliance ensures the correct execution of a contract in real-time.
Comparing smart contracts to parking meters is a great way to conceptualize their utility. You insert the correct payment and receive the parking validation corresponding to that payment. There is no need for third-party involvement like a cashier because the agreement is fixed.
What does a blockchain developer do?
A blockchain developer is a software developer who focuses on blockchain technology. Developers program, develop, and test software and systems. There are two primary types of blockchain developers:
1. Core blockchain developer. Core blockchain developers develop and maintain the architecture of blockchain systems. They design protocols, develop security patterns, and supervise the network as a whole.
2. Blockchain software developer. Blockchain software developers build applications onto existing blockchain platforms. They handle front-end and back-end development, design, and maintenance.
What are the benefits of becoming a blockchain developer?
Demand for blockchain developers is high because they work with disruptive and exciting technology. As a result, job opportunities in this field are abundant. The US Bureau of Labor Statistics (BLS) projects a 22 percent growth in software development jobs between 2020 and 2030 [1]. Studies suggest the blockchains market will climb to over $39 billion by 2025 [2].
Gaining skills surrounding a rapidly growing technology can help make you a more competitive job candidate. Additionally, many blockchain developers’ salaries are high paying. Glassdoor reports an average salary of $119,780 per year for blockchain developers in the United States
for more watch my
For the rest of all the technology check out the video Checkout
Best Artificial Intelligence startup Ideas
How to make Money with AI and Machine Learning
Best Programming Language of 2020
Check why you should learn Data Science
Check how you can Learn, Earn and do Competition in Data Science