The world develops at a very fast pace. Technology does too. We are sure you’ve heard a lot about blockchain recently. But what is all that buzz about? Does blockchain really have any good to do to the world? Or is it just a hype that will pass some time later? Should you start investigating that field or not?
The short answer will be: no, blockchain is not just hype and is totally worth learning. To know more, continue reading this post about why blockchain should be your next skill to develop and what are its main advanced features that can be of help to the world.
But before we get to why blockchain deserves your attention, let’s see shortly what blockchain is.
Blockchain is a shared, trusted, public ledger of transactions available to everyone but not controlled by any single identity. The consecutive string of every block ever executed makes up a blockchain. It is a distributed database of chronologically ordered transactions. You can take a look at our Blockchain Glossary for a more thorough explanation.
Now that we know a little more about blockchain let’s get to this article’s main topic!
1. Job opportunities and high salary
Undoubtedly, blockchain has brought a number of new professions to the job market that have become the most demanded ones. In fact, blockchain was announced by LinkedIn as the most in-demand skill of 2020. Some examples of such professions are back-end blockchain developers, smart contract engineers, dApp developers, cryptocurrency analysts, traders, mining technicians, etc.
Since 2017, these occupations’ salaries have risen significantly, and now the annual average is $70K for entry-level to $175K for more experienced professionals. Though it might seem scary to shift your career to the blockchain, it requires very little time and effort in reality. Specialized courses will help you with the process, no matter if you are a beginner or a more experienced specialist. You can learn more about how software developers, particularly, enter the blockchain industry with this article.
2. One of the core technologies of the future
As of 2018, only 0.5% of the world was using blockchain technology. However, it is estimated that in 2024 blockchain will gain mass adoption. Moreover, the blockchain market is expected to climb to over 39 billion U.S. dollars in size by 2025, according to Statista. It is one of the most cutting edge technologies nowadays. Thus if you want to not fall behind the world, you better start learning blockchain already today. Furthermore, as the quote says, “The early bird gets the worm.” The early adopters of the technology will have significant advantages when the rest of the world starts using blockchain.
3. Smarter cryptocurrency investments
The most widespread use cases of blockchain are indeed cryptocurrencies. If you are interested in crypto investments, you have to know the principles of blockchain and DLTs to make better and smarter investments. Moreover, that knowledge will help you better understand the ICOs and master the rules of the crypto world.
4. Blockchain’s impact on other industries
There is a false assumption that blockchain can be used only in the finance sector. Of course, it can bring many advantages to finance and banking; however, other industries can benefit from blockchain as well. Those industries range from real estate to healthcare, from fashion to food, from education to Horeca, and more. Many big companies have already started using blockchain, such as Carrefour, Nestle, Walmart, IBM, Amazon, etc.. Furthermore, blockchain absolutely disrupts the supply chain by making everything faster, lessening the possibilities of fraud, and saving finances by removing intermediaries. So if you think that blockchain won’t get to your industry, we can prove you wrong.
Now let’s have a look at the advanced features of the underlying technology that is totally worth everyone’s attention and can be the solutions to the present-day issues of the world. Below we will introduce a couple of them.
5. Digital identity and Cybersecurity
It’s a well-known fact that a lot of our information is available online and can easily be a matter of hacking and fraud. With blockchain, all the information is fully secured with a strict cryptographic system, which is impossible to hack. And the owner of the data has control over who can get access to it. Moreover, the user’s identity will always stay anonymous. Blockchain enables more secure storage and management of our digital identities by providing an interoperable, tamper-proof, and unified infrastructure.
6. Integration with other systems
Another significant advantage of blockchain is that it offers a universal infrastructure that can be integrated with any technology and system, regardless of whether it is old or new. Besides, the whole concept of blockchain and the DLT system works amazingly with the Internet-of-things (IoT). And very soon, we will witness the remarkable influence of blockchain, AI, and IoTs on our everyday lives.
One thing is certain. In several years blockchain is going to disrupt many industries. In order to go with the development of the world, you would rather start learning it today both for professional and personal purposes. If you don’t know where to start, Nooor is here to help you. Take a look at the courses we provide to beginners and more experienced specialists. If you prefer self-learning, take a look at our Blockchain Glossary with the easy explanations of blockchain terms and Nooor’s quizzes to check your knowledge. Have fun!