Blockchain Technology will soon venture into zones beyond digital currency development and start to influence everything from entertainment to real estate as new businesses progressively incorporate blockchain into their business planning. The famous and successful utilization of the Blockchain Technology was exposed in the year 2009 by Satoshi Nakamoto. He developed the first cryptocurrency called Bitcoin using Blockchain technology.
What is Blockchain?
Blockchain can be described as an information structure that holds value-based records that guarantee security, decentralization, and transparency. A blockchain can be taken as a distributed ledger that is open to everyone on the framework. When information is stored on the blockchain, it is unbelievably difficult to change or modify it. Each transaction on a blockchain is confirmed with a digital signature that exhibits its legitimacy. By using encryption and digital signatures, the data is stored on the blockchain is secured and cannot be altered.
- Easier cross-border transactions
- Speeding up Automation
- Changing how the business operates
- No Intermediary
- Less Transaction fees
Why do I need a blockchain?
The blockchain technology has been getting a great deal of consideration of late for its disintegrating abilities. Subsequently, few industries are trying to incorporate the blockchain in their business. Few reasons why the blockchain has picked up so much interest is that –
- It is decentralized, as it is not owned by a single entity
- The information is cryptographically stored
- The blockchain is permanent, so nobody can tamper with the information that is in the blockchain
- The blockchain is transparent
Need for Blockchain in Current Scenario
Blockchain technology offers new implements for verification and authorization in the digital world that block the requirement for some centralized administrators. Therefore, it empowers the creation of new digital connections.
There are three important reasons why blockchain is becoming predominant today:
- A rapid increase in digital processing power
- Swift increase in growth of cybercrimes
- Rise of bitcoin and cryptocurrencies
- Securing Personal Information
How it is different from traditional systems
Generally, blockchain technology is related to currency. Regardless, there are a lot more applications for blockchains, both inside and outside the zone of commerce.
- Transfer of money – Money transactions in the blockchains are completed with the assistance of different cryptocurrencies like bitcoin. Those transactions are highly secure, free of charge, and protect the bitcoin wallet.
- Smart Contracts – They are the most protected method to ensure that all terms of a specific contract are satisfied. The outcome is accomplished by the way that smart contracts are neutral and unbiased towards all parties included, where there is no way to cheat.
- Identity verification – Regardless, something has been included in the blockchain, it remains there always permanently. This implies identities cannot be altered or stolen basically because there is just a single identity for every individual in the blockchain record.
- Cloud Storage – This important feature would be helpful to anybody needing to store huge masses of data at a moderately cheap cost.
Where Blockchain is Used
Blockchain is the latest way of storing data transparently. Moreover, there are some global blockchains, such as the bitcoin, but a blockchain can also be created for a separate company or community. Some of the sectors where Blockchain is used:
- Banking and Payments
- Real Estate
Blockchain in Real World
Some of the extraordinary uses of blockchain technology are given below. While some of these applications have been successfully executed, others are yet to take effect.
- Smart Contracts
- Cross-Border payments
- Retail Loyalty Programs
- Digital IDs
- Supply Chain Management
- Data Sharing
- Digital Voting
- Real Estate
- Food Safety
Opportunities/Blockchain roles to explore in India
As indicated by a recent HBL report, employments in the blockchain domain have been increasingly sought after and Bengaluru has the greatest employment opportunities in blockchain development. Findings of the survey from a job site reasoned that Bengaluru has more than 36 percent of blockchain work postings. It was trailed by Hyderabad, Mumbai, Pune, and Chennai.
Top Blockchain Roles to Explore In India
With an ever-increasing number of Indian organizations keen on creating blockchain solutions for enhancing business procedures, geeks who are searching for a break in this field can explore a huge number of jobs.
- Blockchain Generalist
- Smart Contract Developer
- Blockchain Developer
- Blockchain Expert
Here’s How One Can Start in Blockchain Field
- Fundamental understanding of programming and logic
- Understanding of existing server technology
- Coding skills
- Proficiency in Java, HTML, and CSS
- Understanding of blockchain platforms like Ethereum and Hyperledger
- Understanding blockchain technologies and their use cases
The blockchain space in India is overflowing with opportunities and employers wouldn’t mind procuring experts who have no experience in the field yet. IT experts who have significant experience with frameworks administration and security are appropriate for blockchain work roles. So Senior IT expert with more than six years of work experience can get top positions as blockchain managers in this upcoming field.
BlockChain Course at LIVEWIRE
To start with, for beginners, there are many courses available on the blockchain. LIVEWIRE run blockchain specializations. They provide Blockchain Certification Course in India among other certifications they are well known for. These courses can update one with blockchain-related tools, test automation methods, and technologies. LIVEWIRE is an accredited training partner of Blockchain Council and authorized to provide certification on behalf of Blockchain council. LIVEWIRE is the Best Blockchain Training Institute in India with well-trained staff catering to the needs of the industry.
LIVEWIRE provides training in the following areas –
- Bitcoin – Digital currency
- Ethereum – Blockchain-based distributed computing platform
- Hyperledger – For Blockchain development
Who should take this Blockchain training course?
Mainly, students and professionals, anybody Interested in learning new technology can take this Blockchain course. This technology is advantageous for the software engineers, experts in Banking and financial domain. Few blockchain organizations, are now working with customers in India on blockchain technologies where they see potential development and progression in divisions like Waste Management, Fishery Industries and others where traditional strategies have failed to increase the value of the Industry.