Blockchain is, of course, a new job sector with a known path to success. Therefore, if you are thinking about whether it is good to choose as a career or not, then the answer is certainly yes. We all are familiar with a term BitCoin, a virtual or digital currency and the technology behind it is termed as BlockChain.
The Blockchain job market is booming and those who want to get involved in it should follow a proper path. The BlockChain market is flourishing and it is offering a lot of opportunities. It is widely being used in Financial Services, Insurance, Healthcare, Real Estate, Entertainment, Social Engagement, Retail, Supply chains and logistics etc.
The future of BlockChain technology is bright. Learning BlockChain will definitely be worth your time. Learning Blockchain is the same as learning any other methods of recording transactions. Not all position in the field of Blockchain requires technical expertise. There are some non-technical positions too which are related to operations, designing as well as other Blockchain businesses.
- What is BlockChainTechnology ?
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Let’s understand what BlockChain is in detail in the link below. How does it work? And how it is effecting the Indian market.
What is BlockChain
BlockChain is a combination of two words, Block and Chain. Let’s understand what these common words define as long as BlockChain technology is concerned. In other words, what is the meaning of Block and Chain in BlockChain Technology?
A block in a blockchain is a collection of data. In other words, a BlockChain is a chain of blocks which contains information. The data is added to the block in the blockchain, by connecting it with other blocks in chronological order.
Don & Alex Tapscott, author of Blockchain Revolution (2016) explains, “The blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value.”
How BlockChain Technology Works ?
Blockchain technology is what powers and supports the digital currency space in our day to day transactions. The blockgeeks.com describes , “A BlockChain is, in the simplest of terms, a time-stamped series of immutable records of data that is managed by a cluster of computers not owned by any single entity. Each of these blocks of data is secured and bound to each other using cryptographic principles.”
What contains in a block of blockchain ?
A block in BlockChain contains three important things. The first block in the Blockchain is called Genesis Block.
- Hash (It identifies a block and all of its contents, and it’s always unique, just like a fingerprint. )
- Hash of the previous block
What is the flow of BlockChain transaction ?
Blockchain is a simple way of passing information from A to B in a fully automated, safe and secured manner. Lets understand the transaction flow through a picture below.
Summarizing BlockChain, it can be said that this new technology is going flourish more in coming years as it offers decentralization , security, robustness, fast and reliability.