The blockchain technology is one of the terms used about cryptocurrencies and bitcoin. The real meaning of blockchain technology relates itself to the cryptocurrencies as without the same digital currencies in the form of bitcoin can never exist.
Article Overview and Contents
- Blockchain Technology: An Introduction
- How does Blockchain Work?
- Why is it essential to study the Blockchain Technology Course?
- Blockchain as a horizontal Innovation:
- Reason for blockchain receiving so much admiration:
- Importance of Blockchain Education:
- Scope of blockchain technology Course:
- Popular Blockchain Technology courses and its details in India:
- Popular Colleges offering blockchain technology Courses in USA & Europe
- Career Prospects
Blockchain Technology: An Introduction
For starting, we should look forward to the history of blockchain and try to know about the era of cryptocurrency. The blockchain in its oldest form was hash tree also called as a Merkle Tree. The Ralph Merkle patented the data structure in 1979 and also said to function by handling and verifying the data among the computer systems.
As in the peer-to-peer computer network validates the data essential to ensuring that nothing is being changed while making the transfer. In a nutshell, the blockchain is used to prove and maintain the integrity of the data shared.
By 1991, the Merkle tree was used for creating a secured chain for blocks, another series of keeping data records and each of them is connected. The latest record of the chain would be comprised of the history of the entire chain, and therefore the blockchain was created. By 2008, the Satoshi Nakamoto is said to conceptualize the blockchain distribution.
The whole network contains a secure history for data exchanges and utilizes the peer-to-peer networks for time stamping. Every exchange is supposed to verify and can be managed autonomously without any central authority. The framework made the backbone for the bitcoin, and thus the bitcoin was born along with the cryptocurrencies.
How does Blockchain Work?
Before we dig in deep about the blockchain working, let’s know about the few features about the same:
The blockchain is said to keep the record for all kind of data exchanges, also known as a ledger in cryptocurrencies, and the data exchanges are termed as transactions. Once the transactions are verified, they are added in the ledger known as a “block.”
The previously formed peer-to-peer network is utilized for verifying every transaction.
Once verified and signed over the new transactions are said to be added in the blockchain network and never allowed to be altered.
To know about the blockchain concept, we need to look for the idea of keys. As with their help, we can create a unique identity. The keys are divided into two forms, the Public keys, and Private Keys, and together they form a digital signature for you.
The public keys refer to the descriptions about how others identify you. While Private Keys gives you in-hand power to sign digitally and once used with public keys has its significance for authorizing different actions on your behalf.
In the world of cryptocurrency, the concept represents the wallet address or public key, and the private key allows you to authorize various withdrawals, transfers and different other actions related to the separate digital property for example cryptocurrencies.
The safety of Private keys is paramount here to keep your private keys safe as if anyone knows about them the chances are higher they can get the access of your digital assets being associated with your public keys and can take undue advantage of the same.
Once a transaction is being made, it is signed by people authoring the same. The transaction to be executed requires a particular command like “John is sending Alex 0.8 BTC”. The command will include Alex address or public key and ought to be signed by both parties by using their respective public keys.
The transaction will be reflected in the blockchain ledger that Alex has sent John 0.8 BTC, and it will include a unique ID number and the timestamp. The hosted transaction is said to be broadcasted from the peer-to-peer network for nodes. The various digital entities will acknowledge the transaction and add the same to their ledger.
The transaction is included in the ledger is said to host similar data, i.e., a digital signature, unique ID, and timestamp. For example, while making a transaction and moving the same, the ledger can reflect that Chris sent Sam 0.3 BTC at any point in time. The anonymous character of cryptocurrencies is reflected by the fact that the public keys are just a random sequence of letters and numbers.
So, while signing, you are not using your name. The public key never reveals your real identity or the person behind it. The individuals signing up with the cryptocurrencies are free to generate as many numbers of critical pairs and can keep multiple cryptocurrency wallets with them.
Why is it essential to study the Blockchain Technology Course?
The blockchain technology is known to be one of the promising technologies in today’s century. Many people tend to compare the potential significance of blockchain technology with that of the Internet. There are some lofty words, why the blockchain has so much of potential let’s try to understand the difference between the horizontal and vertical condition.
The vertical innovation is the innovation that is related to the particular field while anyone can adopt the other horizontal change. Now let’s take the example to make it clear for you:
Polio vaccine, Penicillin, and the other operating method are some of the cases concerned with vertical innovations and can be associated with a particular field of the healthcare industry.
Electricity, Cloud computing, and the Internet can be associated with the horizontal innovations which are found to be adopted by multiple fields and industries to make them efficient and functional.
Blockchain as a horizontal Innovation:
The blockchain is known to be the timestamped series for the immutable records of data to be managed with the cluster of computers to be owned by a single entity. The blocks of data are bound and secured with each other using cryptographic principles.
Reason for blockchain receiving so much admiration:
- It is decentralized and not regulated by any entity.
- Data is said to be cryptographically stored.
- The blockchain technology is immutable and cannot be tamper with the help of data stored inside.
- The blockchain technology is found to be transparent and does not allow anyone to track as desired by them.
Importance of Blockchain Education:
Nowadays there is a considerable demand for jobs related to blockchain technology, but do you know its significance. And it is imperative to know about the same to survive well today.
Great ROI: The crypto space has offered a lot of money for many reasons. Firstly, many early investors drew out good ROI from their investments. There are many startups, too, that raised good money from many ICOs. The ICOs have enabled millions of dollars in just 24 hours from any product.
Flexibility: Remote flexibility is very much in trend these days, and people are taking the nuance of working at their comfort. The workforce, especially the millennials, likes to work from home than anyone else. This remote employability is not only best for employees but is considered as best for employers too.
For employees working remotely, its allows them to enhance their productivity and efficiency. Also, it contributes to their happiness and decreases their stress levels. For employers allowing their employees to work from remote locations will enable them to save money from taking offices on rent and also in reducing their overall employee turnover too.
Employee’s Liquidity: The employee’s liquidity is based on shares of any company and is limited only to token companies. In start-up companies, usually, the employees are provided with equity and need to wait for liquidity events for selling shares. This is a complicated process and in a lot of scenarios required the company to be restrictive towards the secondary transactions. The blockchain companies allow the employees to receive, which helps the equity-like compensations. The tokens are also like shares, and some of them can have restrictions on them too.
Be revolutionary: Undoubtedly knowing about blockchain technology is a different cause in itself. The blockchain technology has a system in place where any single entity and a person do not own the assets while the entire system seems to be quite untamperable and transparent. The chances are quite high that blockchain is revolutionary as the internet is the future of the generation.
Scope of blockchain technology Course:
The blockchain is penetrating every booming industry and looking forward to making the companies robust for future security hazards. Let’s discuss the blockchain scope for the same in different sectors:
Blockchain scope in digital advertising: The digital advertising is a hot cake nowadays, as to whether the enterprise is small, medium or big they are into digital advertising and want to make maximum benefit through the same. Digital advertising nowadays said to face many challenges, for example, lack of transparency, bot traffic, domain fraud, etc. Through blockchain, a method can be devised to carry our transparency in the supply chain as the technology is created and adopted for hassle-free functioning of industries.
The best part with the blockchain is they allow only best to succeed while minimizing the effect of the incorrect players. The blockchain technology is still in its beginning and is here to stay, and digital advertising synchronizing with the blockchain will help you to enhance your business. The students looking forward to making their future in blockchain can opt for digital advertising as a career as in the next time, making your space in search engines for the enterprises will be very much crucial.
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Blockchain and Cybersecurity: The blockchain is a type of public ledger where the data is found to be encrypted and verified with the help of cryptography technology. On applying the technique on cybersecurity will allow the data or information less likely to be altered or attacked without any authorization.
Cybersecurity in the coming years will play a vital role for the enterprises to stay concern and employ the requisite people from various locations to mark the credibility.
Blockchain and Supply Chain Management: The blockchain technology allows document transactions to be recorded and supervised more transparently and sturdily. As the same allows human errors to minimize and keep a check on delays. The technology application monitors cost, functioning, and employment at every level of the supply chain. This is a kind of decentralized ledger and can keep a check on the movement of products from a source.
With the rise of e-commerce and new brands, the supply chain management has become crucial for generating revenue and employability for the newbies and experienced holders in their niche.
Blockchain usage with Networking and IoT: Many companies like IBM and Samsung are actively using the blockchain technology and have devised a new concept known as ADEPT for creating a central location for IoT devices. The blockchain technology will work as a public ledger and will serve as a mid location to many devices. The machines are then allowed to communicate with one another to upgrade the respective software upgrade and can handle errors to observe the energy levels.
Undoubtedly IoT is a new thing to be imbibed and its synchronization with the blockchain will not only bring new jobs in the domain of people and will be high-paying too.
Blockchain will omit the role of the third party: The blockchain technology leave its long-lasting impact on different techniques and processes. The technology tends to eliminate the requirement of trusted third party interventions in transactions. The blockchain technology will act as a mediator to lower down the risk involved in various transactions and to enhance the trust services for the users.
Digital Currency: It is the last phase of paper money to be used publicly and is observed that the price of Bitcoin was also flown to the extent which was never seen by any money option or service all around the globe. As per the speculation, the governments are thinking of bringing digital currencies into power and allow them to participate in the open market.
If digital currencies being launched in the market, then chances are quite high the highly qualified professionals in the blockchain domain will get chance as they knew the functioning and implementation of hassle-free boundaries around.
Blockchain technology usage in forecasting: The Blockchain is used widely in forecasting, analysis, consulting, and research methodologies. Also, the global platform will be using the application to predicts the market forecasts to know about the future.
The forecasting is said to have a lot in the future that will allow you to study well about the development and implementation of blockchain technology for any professional field.
The above description shows that Blockchain holds the scope in almost every field. Undoubtedly it will be a part of the growing.
Popular Blockchain Technology courses and its details in India:
There are many premium institutes offering blockchain certification courses in India. Let’s have a few of the blockchain technology courses:
Simplilearn provides a plethora of classes for people who want to learn about future technology. The course is equipped with 50 hours of classroom training courses and offer live training through their practical projects for Multi-chain, Bitcoin, Hyperledger, and Euthereum.
Eligibility: The professionals who have a technical background are very much considered eligible for the course. People excellent in software development, product managers, team leads, etc. are the best to pursue the course.
Course Objectives: The blockchain certification course with Simplilearn offers hands-on training covering Bitcoin, Multi-chain, Ethereum, and Hyperledger scenarios. The aspiring students can learn about the technological standpoint and develop a firm grasp on various Blockchain platforms and its working, know about essential vocabulary and many concepts commonly used while knowing about Blockchain and why engineers are said to be motivated for creating an application with Euthereum. The projects and hands-on exercises will give you practical experience for real-world blockchain scenarios.
The certificate procured by the Simplilearn blockchain technology course has lifetime validity. The tools covered in the course are Blockchain Ethereum Tools, Blockchain Integration tools, and Hyperledger tools.
Fees: 8,999 INR.
The Intellipaat blockchain certification course offers the best definitive training in the domain comprising of Blockchain concepts, Ethereum, Solidity, cryptocurrency, core layers, architecture, etc. In the course, you need to work upon various real-world projects, case studies, and live training programs. Being a part of the online classroom training programs, you need to receive the other courses created by IBM.
Eligibility: Technical Professionals, looking forward to upgrading their professional set up.
Course Objectives: Intellipaat Blockchain course is devised by experts and will be stressing on the trending concepts of Blockchain. The company offers lifetime membership for videos and allow the students to complete many real-time assignments and training programs to hone the concepts and profound insights of blockchain technology.
Duration: The course is comprised of Instructor-led 32 hours, 32 hours for self-paced videos and exercise and project work for 40 hours.
Fees: 15,408 INR.
One of the renowned blockchain courses allows you to introduce yourself with the essential concepts hovering around the blockchain technology. The course digs deep in new tools like Ganache, Truffle, Geth and Meta Mask. It allows you to gain knowledge about various frameworks like Ripple and other platforms like AWS or IBM Bluemix. This will enable you to learn setting up of private Blockchain with the help of the composer and deploy many smart contracts.
Eligibility: Professionals who like to pursue future-oriented innovative technology course can opt for the same. The course is quite suitable for the below professionals:
- Team Leads
- Project managers
- Banking/financial professionals
- Business analysts
- Product managers
Duration: The duration of the course is extended to 30 hours, and lab sessions of 20 hours are also included.
Course Objective: The primary purpose of this blockchain project is to gear up the skill sets desired and also amplify the individual experience, competencies, exposure, which can align the current job market for addressing real-world challenges.
The course is set for individuals who are looking forward to onset their career in blockchain technology and digital currencies. The course is said to cover the basics of bitcoin, Blockchain, and money, security wallet, compliance and highlights of the future as well as the institutions and companies globally using this technology today.
Price: 19,499 INR.
Course Objective: The course is said to provide an overview of the Blockchain and transactions that are stored and how the mining works with the help of consensus and the difference between permission-less and permission blockchains and its variation.
The course will also bring detailed information about explaining the opportunities and cases related to blockchain technology and bitcoin offering in terms of payment rails, smart contracts, immutable ledger, and proof-of-ownership. The course will also discuss the alternative of bitcoin instrument.
The course is designed for introducing you to the blockchain concept and even its fundamentals and implementation. Being a beginner, you need to know the history and the importance of consensus. The students are taught about the Ethereum development platform in the course. Also, the course will allow to deploy and develop smart contracts from console and web. By the end of the course, the practical uses of Blockchain are discussed and how can they enhance their learning experience.
Price: 17,995 INR.
Eligibility: software developers and financial professionals are the best to learn about blockchain technology.
Duration: The course is comprised of 30-hours Instructor-led online classes for the student to know about the Blockchain accurately.
Popular Colleges offering blockchain technology Courses in USA & Europe
1 New York University
The course in NYU covers the technical concepts of blockchain, for example, decentralized consensus, append-only ledgers, smart contracts, and also zero knowledge proofing systems. The university curriculum stresses on the future if decentralized ledgers and multi-billion dollar systems of Bitcoin and Ethereum.
2 Stanford University
The course covers the essential aspects of cryptocurrencies, bitcoin, smart contract, and applications. The curriculum at Stanford University is said to be comprised of Bitcoin and Ethereum case studies.
3 Duke University
The course is said to be structured as a collaboration between Duke Law (Professor Jeff Ward) and Cardozo Law (Professor Aaron Wright). The students studying in both institutions are allowed to share their experiences and for the resources wherever required for working together to solve various issues related to blockchain deployment.
4 University of Columbia
The university teaches undergraduate as well as professionals about blockchain technologies. Their course educates the students in all aspects of blockchain technology.
5 Princeton University
The blockchain technology course is an excellent blend of online lectures and class time. The course stresses learning through cryptocurrency concepts, game theory, system security, and programming languages.
6 RMIT UNIVERSITY
This is the first university in Australia to offer a course in blockchain technology. The students without any technical background can also join this course. The course runs for about 5 to 7 hours every week. They not only cover theoretical understanding, but they have also devised the curriculum with the leaders of the industry to infuse the case studies.
7 B9Lab Academy – UK
Founded in 2014, the institute is best professional and technical fit for the blockchain projects. B9lab is one of the global leaders of blockchain education, talent, and training. The institute offers best on-site training and online academy workshops.
8 UNIVERSITY OF ILLINOIS AT URBANA-CHAMPAIGN
The university offers a curriculum based on blockchain and smart contract applications. The course makes the students acquainted with cryptographic tools like authentic data structures, digital signatures, hash functions, etc. The students become well-versed with the applications of blockchain and smart contract applications and know how to prevent vulnerabilities.
9 Universidad Europea Madrid
The blockchain course curriculum at Universidad Europea Madrid analyses in a critical way about the legal and technical viability of feasible solutions for blockchain technologies for developing various integral projects concerned with cryptocurrency. The university aims for creating professionals in the technology sector who are found capable of exploring opportunities and adding value to their industry.
10 GEORGETOWN UNIVERSITY
The blockchain course at Georgetown University aims in diving into cryptocurrencies, blockchain, and fintech. The idea is to train and create the blockchain workforce and introduce the fundamentals of financial technology and how the blockchain cryptocurrency and tech are changing the business and finance.
The demand for blockchain professionals has seen uptrends in recent years. While considering blockchain one of the most popular job choices, people today is to become a blockchain developer. Undoubtedly the same is one of the best career opportunities to be explored in today’s blockchain market but do know that this is not the only one.
Let’s discuss a few of the blockchain careers that you can pursue in the coming years:
Blockchain Project manager: As stated by the title role of blockchain manager is to handle every business need related to the blockchain. They do act as an intermediary between blockchain app developers and business professionals, making them understand each other challenges, needs, and various other factors to enjoy a streamlined blockchain development process with embedded predetermined resources and budget.
The job title is of managerial origin connecting the technical person with the others and allow you to practice strong managerial skills for converting the technical terms and also the jargon into layman language to be understood by everyone. This states that you need to have strong communication skills with the steer knowledge for blockchain technology.
Quality Engineer Blockchain: Like every other quality engineer, the role of a quality engineer here is to maintain the standard for the development of the blockchain environment. They test and try to unveil various scenarios within the blockchain environment with the help of testing tools, network speed, platforms, devices, automatic frameworks, etc. To apply for the same one needs to be well-versed with the basics of blockchain environment and the other solution in addition to the engineering degree.
Web Designer Blockchain: There are many small and well-established business who are turning around with the potential of cryptocurrencies and blockchain for payment or trading process. The demand for web developers in the blockchain domain is rising and the experts in creating customer-centric websites and other pages and can assist the business to allow their clients to know how they can leverage their benefits to know about their offerings.
Legal Consultant Blockchain: The legal front is still untouched while the digestible guides for blockchain application development still exist in the market. They are still gripping with the integration of technology synchronizing into existing solution catering to the legal front. And this is where the requirement of blockchain licensed attorneys or consultants found its place.
These type of legal consultants do provide business owners and their teams with the best of the knowledge and sound legal advice on the building of contracts and partnerships and how to invest their money in Initial Coin Offering (ICO).
This explains their interest in the handling transactions in the blockchain based program and others. In this way, they aid the respective organization about how they support the organization and add up the benefit associated with the blockchain development.
If you are applying for the blockchain legal consultant, then you should have the best of the knowledge about blockchain technology and a law degree for a deep understanding of law terms.
App developer Blockchain: The blockchain app developer is found to be one of the well-known and entirely highly paid jobs in the market. The candidate looks forward to developing and design various blockchain-based applications and solutions to bring out some value for the customer or business front or both.
They are required to have extensive knowledge about the various blockchain based concepts like a hyper ledger and smart contracts and expertise in jQuery, SQL, C, HTML, C++, Solidity, etc.
Blockchain Intern: The intern for blockchain is an entry-level job position for sourcing the opportunity for in-depth understanding among all other career options, to polish skills in different fields and determining the right direction for taking your career ahead.
Are you ready to dive into the blockchain arena?
With the above-stated information, you must be well versed for enjoying a better future in the blockchain market in numerous ways. Are you ready to step forward? So what is your next move?