How It started:
What shocked the world in 2008 was a long uncanny recession where mammoth banks around the globe either succumbed or were a whisker away from getting collapsed due to their inability to survive the debt catastrophe.
In the aftermath of ’08 Recession world witnessed a new technological revolution – “Blockchain” as they named it.
“They” , Who ? an anonymous person or group known as ‘Satoshi Nakamoto’ conceptualized the idea of Blockchain.
- Blockchain is secured using cryptography and it is based on distributed computing system.
- Unlike Banking systems, records are not stored as a centralized entity rather it is transparent and public in nature.
- Blockchain security methods uses encryption technology relying on public-private keys.
- Blockchain essentially axed out middle man in money-transfer system, thereby cost of transaction diminishes.
- It has no single point of failure as records are shared among millions of computers in parallel.
- This is completely open-sourced , permission-less and public thus guarding of any financial institution is not required.
Skills Needed to become a Blockchain developer.
- A BE/BS degree in Computer Science or Engineering is helpful, not mandatory though.
- Past experience as a software engineer is definitely an add-on.
- Good understanding of ledgers, blockchain and cryptocurrencies in general.
- Strong understanding of cryptography,data security and threat analysis.
- Strong understanding of Data structures & algorithms with at least one suitable language like Go , Python , C ++ ,Solidity .
- Solid expertise of distributed storage like RDBMS , NoSQL .
- At least some degree of experience creating blockchain frameworks and business applications.
- Knowledge of web technologies like Node.JS/Perl/Python is a plus.
Open Source Projects :
Companies working in Blockchain space.
- The Big Four -> E&Y have started accepting bitcoin as payments for all it’s consulting services whereas PwC ,Deloitte and KPMG are testing private blockchain.
- Microsoft released it’s COCO Framework to improve various aspects of blockchains for enterprises.
- Swiss bank UBS and IBM began work in 2016 on a global trade platform based on blockchain known as Batavia.
- SafeShare Insurance offers blockchain-based insurance for the sharing economy, underwritten by Lloyd‘s of London.
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