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Understanding blockchain


The internet that we all use every day is changing. For all its power to connect people worldwide, speed up work, automate everyday tasks, and help us get more out of life, it has some pretty serious flaws.

Major security breaks issues are too common. Every week, we discover another major security leak that puts the personal data of millions at risk.

The programs and tools we use every day are increasingly controlled by mega-corporations.

These, among a host of other smaller issues, demonstrate that the web is due for a significant update, and it’s coming in the form of blockchain.

Today, I want to teach you about Blockchain and help you see why it’s such a significant opportunity if you are just starting your programming career.

Web3 is coming quickly, and there aren’t enough programmers who know how to use it. If you want to build a great career in programming, you’ll want to know all about blockchain.


Part 1: What is blockchain, and why is it important?

Blockchain is essentially a computer network comprised of nodes where information is stored as “blocks.” Each block has a limited storage capacity, and when the block is filled, new information goes into the next block.

Blockchain solves a significant security issue with traditional databases. Standard databases store all the information in one place and hide it behind encrypted security measures. We’ve all seen how someone can get through hidden flaws in the security to change, steal, or hijack information within the database.

No matter how much security there is around the database, there’s a chance someone can get in. Blockchain decentralizes the information so that no single person or group can access everything or gain control of the information. The data inside is irreversible and can’t be stolen or changed.

Beyond this, blockchain gives us the ability to track, understand, and analyze data better and quicker. Whether a company needs to track information about distributions in their supply chain or analyze transaction data for trend forecasting, companies can use blockchain to gain deeper insights into the mountains of data that they are collecting.

Bitcoin is the most famous example of Blockchain. Along with all kinds of other cryptocurrencies, it makes the most headlines. The proliferation of Blockchain payments now means that companies have to open up new payment systems.

More and more companies are adopting blockchain technology, which creates a unique opportunity for programmers. For a long time, companies will need to maintain databases and infrastructure in some combination of web2 AND web3. This change isn’t going to take place overnight. As a result, companies will need developers with skills from both Web2 and Web3 as companies make the slow transition.

As more and more companies switch from traditional databases to systems built natively with Blockchain, they will need an army of programmers to help them make that switch.


Part 2: types of blockchain developers

Just like every area of programming, there is a quickly growing ecosystem of specializations within blockchain development.

You can find something both interesting and financially lucrative within this selection of specializations.

1) Core blockchain developers

Core blockchain developers develop and optimize the architecture that supports blockchain technology. They will design, develop, and optimize the protocols supporting blockchain technologies.

A core developer will, for example, develop a unique consensus protocol that will define how each member of the blockchain, or each node, will share and participate within the blockchain. They could develop the security protocols, support the system as it grows, or design integrations between networks using or seeking access to blockchain networks.

A good example is the consensus protocol which defines how members using the blockchain and the resources therein agree on sharing and using these resources.

2) Smart contract developers

Software developers take the work done by the core developer and develop the tools that make the core blockchain useful and valuable to members of the blockchain and external users.

They will develop and support dApps and smart contracts and create and support blockchain integrations with other services.

These are the people that connect blockchains to the world.

3) Web3 developers

Web3 developers develop front-ends APIs, do performance tests, and design software specifications. They connect traditional systems like websites with blockchain APIs.

Under this category is where most web developers start their path into blockchain technologies, and for most, it is all they need to know to find amazing and well-paid opportunities.

4) Full-stack web3 developers

“Full-stack” web3 developers, as the term full-stack suggests, are developers who can do both smart contract development and web3 development.

Making it to this category will open you to most of the opportunities in the market and will place you in a great position to find great jobs with lots of flexibility and great pay.

It is not uncommon to find full-stack web3 developers charging $150 to $350 per hour for some projects.

As with every area of programming, there is overlap in these different specializations. And as more and more companies embrace blockchain technology, these specializations will develop and change.

No matter what specialization you want to pursue, you need a solid understanding of Blockchain technology and how it works.

Part 3: Why become a blockchain developer

So why should you become a blockchain developer?

The answer is simple.

This is one of the newest and most exciting areas of programming today. There are far more companies looking to hire Blockchain developers than blockchain developers ready to do the work.

  1. Blockchain developers are in high demand. Today, companies are scrambling to hire blockchain developers, with many companies competing over a small pool of qualified programmers. And, barely 1% of all companies have begun to embrace the power of blockchain technology. Companies are scrambling to hire blockchain developers.
  2. Blockchain Developers earn great pay. Blockchain developers in the US can easily make six figures right now. And as more companies become reliant on this technology, the pay scale will continue to grow.
  3. Blockchain developers develop cutting-edge expertise. As a blockchain developer, you get to work at the cutting edge of programming today, learning about cryptocurrencies, internet security, and new and exciting applications for Web3. All of these technologies are central to innovation in the next 50 years, and you’ll be an expert in all of this as it happens.

Conclusion

Adding blockchain technology to your portfolio is a great way to start or grow your career. There are so many opportunities created everyday, and many new technologies being created, it is very exciting and rewarding.

btw, do you want to know the inners of bitcoin? Check out our article where we explain in details how bitcoin works .

Thanks for reading!

Source: livecodestream


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