Blockchain Technology Blog Posts

The Blockchain Era is has arrived, and it is now. Enterprises across various sectors of the industry are warming up to the concept of the decentralized ledger. There’s a global wave of Blockchain adoption among companies and businesses to address fundamental business problems. In fact, the adoption of Blockchain technology is occurring at such a rapid scale that Gartner predicts the business value of Blockchain tech will exceed $3 trillion by 2030. Blockchain technology has a number of applications usable across many industries. The most popular uses are reflective in identity management, supply chain analysis, and smart contracts. This technology’s complete range of benefits is set to see further discovery in the future. According to a 2018 PwC survey conducted on 600 executives hailing from 15 different regions, nearly 84% of the respondents claimed to be leveraging Blockchain in some way of the other. India is also catching up with the rising trend in Blockchain Adoption. With both the government and private companies showing increasing interest in Blockchain, the job market in this domain is booming at present. Check out our free courses to get an edge over the competition. Explore Our Software Development Free Courses Fundamentals of Cloud Computing JavaScript Basics from the scratch Data Structures and Algorithms Blockchain Technology React for Beginners Core Java Basics Java Node.js for Beginners Advanced JavaScript A common search query online remains, blockchain developer salary and blockchain engineer salary in India, implying its emergence and growing interest among young aspirants. Learn Software Development Courses online from the World’s top Universities. Earn Executive PG Programs, Advanced Certificate Programs or Masters Programs to fast-track your career. Check out our Advanced Certification in Blockchain Who Is a Blockchain Developer? Developing blockchain protocols, including developing a network that can be used for both data centralisation and decentralization, is the responsibility of a blockchain developer. Moreover, companies offer a good Blockchain developer salary to ask these professionals to be in charge of producing smart contracts.  To put it another way, the Core Blockchain Developer creates the foundation upon which others can develop. He utilizes web-based solutions built on the blockchain. Anyone who earns a reasonable blockchain developer salary in India is responsible for the company’s advancement in blockchain technology. The growing demand for Blockchain Developers in India Being an emerging technology that has just started gaining traction in the past few years, Blockchain talent is challenging to find. Today, Blockchain is one of the fastest-growing skill sets with jobs in this domain growing at a mindblowing rate of 2,000-6,000% and the salaries of Blockchain Developers being 50-100% higher than conventional developer jobs. No wonder there are lots of questions around blockchain developer salary and blockchain engineer salary. While the employment opportunities in Blockchain are many, there’s a limited talent pool in this domain. The demand for Blockchain techies, particularly Blockchain Developers in India is not only being created by the BFSI sector, but also by healthcare, education, supply chain management, cloud computing, stock trading, real estate, and even government agencies.  Check out our Advanced Certification in DevOps The job landscape in India is currently seeing a heightened demand for blockchain developers, making it one of the most sustained and fast-growing skills to flaunt. Average Blockchain Developer pay scales are at least 50 to 100 percent higher than that of a traditional developer.  The most in-demand Blockchain skills right now are Hyperledger, Solidity, Ripple, and Ethereum. However, since this space is relatively new, companies often settle for professionals with a specific skill set. For instance, Blockchain Developers must have a basic knowledge of mathematics and algorithms. They must be well-versed in C, C++, Java, and Python since a majority of Blockchain projects are written in these languages. The solidity developer salary India is high in those companies that are looking for Blockchain developers with Solidity as one of the key skills. Also, Blockchain Developers must be aware of at least a few tools required for Blockchain development such as Geth, Remix, Mist, Solium, Parity, BaaS, and Truffle, to name a few. Also, they should have some experience of working on open-source projects. Usually, most companies hire Blockchain Developers having at least a bachelor’s degree in Mathematics or Computer Science. All data in Blockchain gets stored in the form of blocks instead of tables. This ability to create such a data structure from the basics is part of the skill sets of a blockchain developer. Knowledge of languages for programming such as C-Sharp, C++, C, Java, Scala, and Python are also required. Most Blockchain certificates that the Blockchain Council offers are designed or intended for completion in the form of self-paced instruction. Generally, the course span ranges around 6-8 hours. Once you obtain certification, you get to gain a thorough understanding of the concepts of Blockchain and related implementation. You also get to demonstrate the knowledge and abilities in Blockchain you developed. In the last few years, using blockchain technology for exchanging loans, cryptocurrencies, assets, and other things has proved to be a massive success. The versatility of Blockchain implies the soaring blockchain developer salary. In addition to the fintech industry, other industries like Agtech, EdTech, healthcare, etc., have started to include Blockchain in their financial services. Though India is not in a steady or legal position to manage cryptocurrency, a few industries have started implementing Blockchain technology. Indian blockchain developers are demanding that domestic businesses prepare a digital transaction book that can’t be modified or hacked. Companies use this advanced technology to offer supreme security for sensitive and confidential data against cyber criminals. Also, this technology avoids Cyber-attacks on computer systems. The blockchain jobs salary India is admirable because the Indian companies have acknowledged Blockchain as the forthcoming big generation of cutting-edge technology. It will modernise the entire process of business operation. Blockchain developers are experts at developing and enhancing Blockchain technology protocols, building a network via Blockchain architecture for decentralised systems, and building Blockchain-focused online applications. Owing to these outstanding skills, these developers earn praiseworthy blockchain jobs salary. Two types of demanding Blockchain developers in India are Blockchain software developers and Core blockchain developers. Moreover, Blockchain engineers are familiar with programming languages like Javascript and Python and other technologies like hyper ledger fabric, smart contracts, Bitcoin, Ethereum, Solium, Mist, etc. The blockchain engineer salary is decent enough for those Blockchain engineers experts in all these programming languages and technologies. Explore our Popular Software Engineering Courses Master of Science in Computer Science from LJMU & IIITB Caltech CTME Cybersecurity Certificate Program Full Stack Development Bootcamp PG Program in Blockchain Executive PG Program in Full Stack Development View All our Courses Below Software Engineering Courses upGrad’s Exclusive Software and Tech Webinar for you – SAAS Business – What is So Different? document.createElement('video'); https://cdn.upgrad.com/blog/mausmi-ambastha.mp4   Blockchain professionals are demanding in several sectors, including the supply chain, healthcare, BFSI sector (Banking, financial services, and insurance). The key requisites for becoming a Blockchain developer are a powerful base in algorithms and mathematics, detailed knowledge of programming, and an understanding of Blockchain technology fundamentals. Candidates aspiring to become Blockchain developers must focus on learning foundational skills by pursuing a certificate program in fintech and financial blockchain. For blockchain developers aiming to enter the finance industry and earn decent blockchain jobs salary India, the fintech certification courses can help build a strong foundation. The digital revolution has significantly influenced the finance industry. The growing technological advancements have generated a market gap between the demand and supply for skilled Blockchain professionals. Upskilling via certification programs in Fintech and Financial Blockchain not only offers a competitive edge to the learners but also guarantees decent blockchain jobs salary. Our Learners also read: Career opportunities in Blockchain! On the whole, a Blockchain Developer must have a solid technical background and be ever-curious in learning about new technologies.  The Salary of Blockchain Developers in India Owing to the shortage of talent and skills in this domain, employers are always willing to pay high remuneration to Blockchain professionals if they are worthy. In fact, the salary of a Blockchain techie is way higher than an average IT professional. If you have the right Blockchain skills, you can make double, even three times the salary of what a Software Engineer makes in a year.   As more Indian companies and organizations are joining the Blockchain bandwagon, the average annual salary of a Blockchain Developer in India has a broad spectrum. Usually, the salary of a Blockchain Developer in India ranges anywhere between Rs. 5,00,000-30,00,000 LPA. According to estimates based on data with GlassDoor, the average national salary for Blockchain Developers in India stands at around Rs. 7,14,775 every year. As is visible, the higher your experience and the more profound your skillset, the higher will be your yearly compensation. Also, the salary package depends on whether or not a candidate has advanced certifications and the job position as well (entry-level, mid-level, senior-level). Furthermore, the salary packages of Blockchain jobs are highly dynamic. For instance, if a professional has around three years of Blockchain experience, the annual remuneration can be as high as Rs 45,00,000 or even more. This happens to be more than double of what a professional with five years of work experience (however, with no experience in Blockchain tech) would get.  Skillset is an important determining factor for blockchain developer salary. A strong foundation of distributed systems and networking is advantageous. Their salary varies based on one’s knowledge of various decentralised applications, including Ethereum, HyperLedger, EOS, and NEO. Apart from all these factors, having a certification is another key element contributing to admirable salaries. These certification courses help them demonstrate their abilities leading to increased scope of blockchain developer, ample career opportunities, and industry recognition. After gaining one of these certifications, the blockchain developer salary Chennai and other megacities of India can range from 5 LPA to 30 LPA. In fact, one thing to take note of here is that the average salary in the domain, even for a fresher, is significantly higher compared to other job profiles. According to Paul Dupuis, the MD of Randstad, India,  “Salaries for ready-to-be deployed techies with blockchain experience are twice that of a techie without blockchain expertise.”  Reinstating this fact, Lohit Bhatia, the Chief Executive (Staffing) of IKYA Human Capital Solutions, states, “Salary offered to a blockchain techie with just five years of experience is almost at par with that of a general manager in a bank with three decades of experience.” As for senior-level salaries for technology roles (without Blockchain expertise) was around Rs 1.5-2.5 crore in 2018. However, as the need for security has increased considerably across various sectors, particularly the BFSI sector, companies are willing to pay over Rs. 4 crores to senior-level Security professionals and Blockchain techies. Source: Payscale, Glassdoor There is a significant gap in the demand and supply of Blockchain professionals in India. Out of the 2 million Software Developers in India, only 5,000 professionals possess Blockchain skills. At present, public sector banks are leading the game by creating the highest demand for Blockchain Developers with about 4,000 specialists in this domain (as of 2018) compared to 2,300 experts in 2017. This depicts a 75% increase in the demand for Blockchain specialists. According to TeamLease research, there are about 2,000 Blockchain professionals in NBFCs and 2,400 in public sector companies. Also read, Blockchain career and its future growth  Among the top blockchain jobs available in India, we have compiled a list of the most in-demand, as per rankings- Blockchain Developers: Of course, this is the topper on the list, with salaries touching even a whooping Rs 82 lakh per year for highly experienced or skilled people. Blockchain developers help design the best solutions for establishing the new technologies to utilize superior expertise. In terms of being a developer, you can pick from becoming a core blockchain developer or even a software blockchain developer. The top skills relevant to such profiles are clarity on blockchain architecture, understanding of cryptography, awareness of data structures, web development knowledge, and expertise in main programming languages including Java, Solidity, C++, and Python. The solidity developer salary India highlights the Blockchain developers’ versatility. Blockchain Architects: With such a profile, candidates can plan, oversee, and integrate multiple components in a blockchain system. A blockchain developer should have an in-depth understanding of what blockchain is. They are later introduced with concepts like cryptographic hash functions and ledger technology. After learning all fundamental concepts, the scope of blockchain developer for a job in leading firms significantly increases. One of the excellent methods to learn Blockchain fundamental concepts is reading the Bitcoin blockchain whitepaper. Adopting this method can unlock opportunities for admirable blockchain developer salary Chennai. Blockchain developers should be able to apply data structures whenever required. Being a blockchain engineer, you would have to deal with various data structures and complex cryptography throughout your career. The ability to manage all these accounts for a decent blockchain engineer salary. Blockchain Security Engineers: The profile has steadily become prominent over the years in the IT business. Blockchain Product Managers: As blockchain project managers, you get to oversee projects and also help maintain contact between a company and the blockchain experts. Blockchain UX Designers: UX designers work on creating distinctive as well as user-friendly interfaces. Blockchain Quality Engineers: Such engineers look at all testing-related stuff around apps for performance evaluation. In-Demand Software Development Skills JavaScript Courses Core Java Courses Data Structures Courses Node.js Courses SQL Courses Full stack development Courses NFT Courses DevOps Courses Big Data Courses React.js Courses Cyber Security Courses Cloud Computing Courses Database Design Courses Python Courses Cryptocurrency Courses Blockchain Developer Salary In India: Based on Job Location The amount of experience a developer has in the field of blockchain also affects their Blockchain salary in India. The likelihood of making more money increases with a city’s technical sophistication. You will have more chances to prove your qualifications if you are prepared to move to a more senior position. Here is a table representing the average salary of a Blockchain Developer in India based on their job location:  Job Location Blockchain Developer Salary Per Annum Mumbai INR 707,000 Delhi INR 599,000 Chennai INR 729,228 Bangalore INR 619,000 Pune INR 883,000 Hyderabad INR 500,000 Blockchain Developer Salary In India: Based on Job Role The two criteria that determine job roles are. The candidate’s background and the tech stack they are most familiar with. The pay based on experience has been discussed. Here is a table representing the Blockchain developer salary in India based on the various work roles:  Job Role Blockchain Developer Salary Per Annum Integrations Engineer INR 672,449 Smart Contract Developer INR 550,000 Core Engineer INR 450,000 Smart Contract Engineer INR 722,698 Blockchain Developer Salary In India: Based on Job Experience Level It is a common belief in the sector that a developer’s pay is based on the amount of experience he or she has. Depending on their level of domain experience, employees are divided into various categories. Let’s examine the blockchain developer salary india for the various groups.  Blockchain Developer Salary For Freshers Workers with no prior software experience and 0–1 year of blockchain technology experience are considered full beginners. In this instance, the blockchain developer salary in India for freshers may be roughly INR 600,000 annually.  Blockchain Developer Salary For Developers With 1-2 Yrs Experience Workers with 1-2 years of software experience and 0–1 years of familiarity with blockchain technology are considered new developers. In this instance, the pay might be roughly INR 700,000 per year. Blockchain Developer Salary With 2-4 yrs of Experience Workers with 2-4 years of software experience and 0–1 year of familiarity with blockchain technology are regarded as experienced developers. In this instance, the pay may be roughly around INR 7,50,000 and INR 8,50,000.  Blockchain Developer Salary For Blockchain Master Blockchain technology salary in india are considered according to the experience they have. 2-4 years of software experience and 0–1 year of exposure to blockchain technology. In this case, the salary might be around INR 800,000 and INR 900,000. Blockchain Engineer Salary Based on Company Here is a table representing the top companies hiring Blockchain developers and the average blockchain engineer salary each offer:   Company  Blockchain Developer Salary Per Annum Accenture INR 10,00,000 Bosch India INR 11,00,000 TCS INR 6,00,000 Tech Mahindra INR 7,50,000 HCL Technologies INR 20,00,000 Skills Required For Becoming a Blockchain Developer 1. Blockchain Design/ Blockchain Architecture Design: Firstly, Blockchain developers should have a strong understanding of Blockchain, its working, and how it’s built. Without learning the design of Blockchain/Blockchain Architecture, these developers can’t get a decent blockchain salary. Studying the same from courses/blogs is beneficial and time-saving. 2. Data Structures: Blockchain developers should be able to use the data structures when they are needed. Many Blockchain developers are constantly experimenting with existing data structures, for example, Merkle trees, to fulfil their network requirements. Learning Blockchain data structures can increase the odds of getting a blockchain developer salary Hyderabad. They can work with a wide range of data structures and complex cryptography to construct a safe system. 3. Cryptography: Data architectures and cryptography are equally important. During blockchain development, several algorithms and hash functions like KECCAK256, SHA256, and others are used. Blockchain developers should be familiar with essential Cryptography related aspects required in their job profiles. 4. Smart Contract Development: Smart contracts are programs that execute when determining criteria are fulfilled. Usually, they help automate an agreement’s implementation to ensure all the parties can be immediately assured of the conclusion without any intermediaries. In recent years, smart contracts have become increasingly crucial. Since business logic can be easily employed with Blockchain technology, the majority of Blockchain developers aim to incorporate it into their services. So, being an expert at Smart Contract Development can help you get a promising blockchain salary. 5. Web-Development: One of the critical elements of becoming a Blockchain developer is developing and designing decentralised applications. Therefore, learning both the front-end and back-end web developments are critical.  6. Understanding of Enterprise Business Processes Understanding enterprise business processes increase the odds of cracking Blockchain coding interview. The corresponding skills are essential for thinking and employing a plan for the solution. Procurement, logistics, supply chain, distribution, treasury operations, and other associated areas demand a fundamental understanding. It helps impress an HR manager during an interview and finally land a job with a decent blockchain developer salary Hyderabad.  Topmost companies hiring Blockchain Developers in India Hyperlink InfoSystem Tata Consultancy Services Infosys Capgemini India Pvt ltd Accenture Tech Mahindra WillowTree Apps Zensar Technologies HData Systems Fueled The Future Potential of Blockchain Technology Blockchain technology has captured the imagination of industries worldwide, promising to revolutionize how businesses operate and interact. While its current applications in identity management, supply chain analysis, and smart contracts have shown immense promise, the future potential of blockchain technology is even more intriguing. 1. Decentralized Finance (DeFi) DeFi has gained significant attention, offering decentralized financial services such as lending, borrowing, trading, and yield farming without intermediaries. This trend can reshape traditional financial systems, making them more accessible, transparent, and inclusive. 2. Tokenization of Assets Blockchain enables the fractional ownership of real-world assets through tokenization. This could transform how we invest in real estate, art, commodities, and intellectual property. Tokenizing assets can provide liquidity, reduce barriers to entry, and increase market efficiency. 3. Supply Chain Traceability While Blockchain has already been used for supply chain transparency, the technology’s future potential lies in creating end-to-end traceability. Consumers could scan a product’s QR code to access its entire journey from raw materials to the store shelf, ensuring authenticity, ethical sourcing, and quality control. 4. Healthcare and Medical Records Blockchain could revolutionize healthcare by securely storing and sharing patient data across healthcare providers. This would give patients control over their medical records while ensuring privacy, data accuracy, and interoperability between healthcare systems. 5. Renewable Energy and Carbon Credits Blockchain could play a vital role in creating transparent systems for tracking and trading renewable energy and carbon credits. This could incentivize sustainable practices and contribute to combating climate change. 6. Digital Identity and Authentication Blockchain has the potential to create secure and verifiable digital identities, reducing the risk of identity theft and providing individuals with control over their personal information. This is particularly valuable in a world where digital interactions are increasingly common. 7. Voting Systems Blockchain-based voting systems could enhance election transparency, security, and accessibility. This technology could help eliminate voter fraud and ensure tamper-proof election results. 8. Cross-Border Payments and Remittances Blockchain’s ability to facilitate near-instant cross-border payments could revolutionize international trade and remittances, reducing fees, transaction times, and reliance on intermediaries. Blockchain Development Challenges While offering numerous benefits, blockchain development also comes with its fair share of challenges and considerations. Here are some of the key challenges and considerations in blockchain development: 1. Scalability Traditional blockchains like Bitcoin and Ethereum often face scalability issues due to their limited transaction processing capabilities. As more users join the network, the time and cost of transactions can increase significantly. Blockchain developers must explore solutions such as sharding, layer 2 protocols, and optimized consensus mechanisms to address scalability concerns. 2. Interoperability The blockchain ecosystem is highly fragmented, with multiple platforms and protocols existing independently. Ensuring interoperability between different blockchains is essential to facilitate seamless communication and data exchange across networks. Projects like Polkadot and Cosmos aim to address this challenge by enabling cross-chain interoperability. 3. Security Blockchains are considered secure due to their cryptographic principles, but they are not immune to vulnerabilities. Smart contract bugs, 51% attacks, and vulnerabilities in consensus algorithms can compromise the integrity of the Blockchain. Thorough security audits, code reviews, and continuous monitoring are essential to mitigate these risks. 4. Regulatory Compliance Blockchain technology often operates in a regulatory grey area, especially regarding data privacy, ownership, and legal frameworks. Blockchain developers and businesses must navigate evolving regulatory landscapes to ensure compliance with laws while maintaining the core principles of decentralization and immutability. 5. User Experience The user experience on many blockchain applications can be challenging for non-technical users. Wallet management, private key security, and transaction confirmation times can deter mainstream adoption. Improving user interfaces and simplifying onboarding processes are critical to making blockchain applications more user-friendly. 6. Energy Consumption Proof-of-work (PoW) consensus mechanisms, as used in Bitcoin, consume substantial amounts of energy, leading to concerns about environmental impact. Transitioning to more energy-efficient consensus mechanisms like proof-of-stake (PoS) or delegated proof-of-stake (DPoS) is a consideration for blockchain developers to minimize carbon footprints. 7. Lack of Standards The lack of universally accepted standards in blockchain development can lead to fragmentation and compatibility issues. Establishing common protocols, data formats, and development practices is crucial to fostering a cohesive blockchain ecosystem. 8. Data Privacy Public blockchains store data in a transparent and immutable manner, which may conflict with privacy requirements in certain use cases. Developing solutions that allow for private transactions, data encryption, and permission access to certain information is essential for applications that deal with sensitive data. 9. Legal and Ethical Challenges Decentralized autonomous organizations (DAOs) and smart contracts can raise legal and ethical questions. Determining liability, resolving disputes, and managing unintended consequences of automated code execution need careful consideration. Read our Popular Articles related to Software Development Why Learn to Code? How Learn to Code? How to Install Specific Version of NPM Package? Types of Inheritance in C++ What Should You Know? Wrapping up… However, since Blockchain skills are mainly being developed and encouraged in-house by employers, hopefully, there’ll be more talented Blockchain professionals in the near future.  If you are interested to learn blockchain and take your career to the next level, check out IIIT-B & upGrad’s Executive PG Programme in Software Development- Specialisation in Blockchain.

Summary: In this Article, you will learn top 10 interesting blockchain project Ideas for beginners. Trusted Crowdfunding Platform Using a Smart Contract Exact Shipment Location Data Peer To Peer Ridesharing A Fake Product Identification System Transparent and Genuine Charity Application Blockchain-Based Voting System A Decentralized Web Hosting System Disk Space Renting System Loyalty Points Exchange System Trackback Your Food to its Source Read more to know each in detail. Blockchain is an emergent technology evolving at a fast pace. There is a lot of demand for software engineers in the blockchain. If you have stumbled upon this article, you are probably learning blockchain or wanting to learn blockchain soon. If you are not, read top reasons to master blockchain. Blockchain is conceptually completely new and the best way to learn it is by doing hands-on than just going through documents and watching videos. Below are some blockchain project ideas that will suit beginners and students Check out our free courses to get an edge over the competition. Why are Blockchain Projects important? The software industries are on the hunt for expert Blockchain developers. So, creating unique blockchain projects would make you stand out from other candidates. Many candidates create typical mobile applications or web applications. But blockchain application development involves one step further. It involves developing a mobile or web application and then transforming it into a Blockchain application. Now when you add blockchain projects to your resume, it shows that you are an expert at mobile development or web development too. There is scope for innovation in this field. Plenty of opportunities are still unexplored in this area that you can check out. How to create a blockchain project? Firstly, you require a personal blockchain for which you can use Grenache. You would have a Blockchain system running after installing Grenache. Now you require a truffle framework to write Ethereum smart contracts. Note that you can use the online Remix IDE if you don’t want to install it on your local system. The next step in creating the system blockchain project is to install a meta mask chrome extension. It lets you connect to the Blockchain via your account and interact with the smart contracts. upGrad’s Exclusive Software and Tech Webinar for you – SAAS Business – What is So Different? document.createElement('video'); https://cdn.upgrad.com/blog/mausmi-ambastha.mp4   10 Best Blockchain Project Ideas Trusted Crowdfunding Platform Using a Smart Contract As per trusted reports, 85% of startups delay the delivery, and 14% don’t deliver at all what was promised to the angel investors. As of today, crowdfunding platforms have accountability and trust problems. In many cases, money from investors has gone into wrong campaigns and has been misused. Implementing a blockchain-based platform can bring in a change. With blockchain technology, investors can know to whom the money is going and how they are spending it. A smart contract helps to block the funds within blockchain until the project or startup founder makes progress in the project. Check out our free blockchain online courses Exact Shipment Location Data Most logistics companies today offer only the location details of main locations like collection centre, city hubs and sorting facilities. The exact live location details are never known, and if the system fails, the entire data is lost. Using blockchain, you can implement a system that collects location data from many interconnected systems and deliver exact location details to the customers. The application of this project can be extended to other areas like airlines to find lost baggage, car rentals for tracking rented car etc. Our Learners also read: Career in Blockchain! Check out our Advanced Certification in Blockchain Peer To Peer Ridesharing Most carpooling systems and radio cab facilities come with a middle man, the agency itself. So what if the agency like Uber decides to shut down business in the city? If ride-sharing and car hire are moved to the blockchain, without an intermediary, both riders and drivers can get connected directly. If the project is completed successfully, it can build a network that will provide safe, reliable transportation. Presently, a single agency controls most carpooling systems. You can develop a smart contract that directly connects the driver and the rider without the interference of any third party like Ola or Uber. The agencies like Ola and Uber have all data of riders and drivers. This can create privacy issues. Moving car hire and ride-sharing to Blockchain can help you to build a reliable and secure carpooling system. The drivers and riders can directly connect without any intermediary. It is one of those blockchain projects that provide secure and collective transport. Learn Online Software Development Courses online from the World’s top Universities. Earn Executive PG Programs, Advanced Certificate Programs or Masters Programs to fast-track your career. Check out our Advanced Certification in DevOps A Fake Product Identification System  Every popular brand has fake manufacturers selling a counterfeited item at cheaper rates. Even the company experts may not be able to distinguish between fake ones and real ones. What if the original manufacturer has embedded a 2D barcode on the product which is tied to a blockchain system. You can scan the 2D barcode using your smartphone, and your smartphone will tell you whether the product is fake or not. This is an outstanding project idea and if successfully implement big brands are going to knock at your doorstep, and you know why… Many popular brands have fake manufacturers that sell the same products at cheaper rates but with a compromise in quality. Even the original company’s experts can’t differentiate between real and fake products. You can use blockchain technology to sense original products and include a QR code to them during manufacturing. The product’s QR code will be linked to a Blockchain. Moreover, you can store the product’s generated QR code and product details as blocks in the database. People can now scan the QR code through their smartphones. Their smartphones will inform whether the product is real or fake. It would compare the scanned QR code with entries in the Blockchain database. It notifies the customer that the product is original if the code matches. Otherwise, it notifies that the product is fake. It is one of the most useful and interesting projects on blockchain. Your chances of getting hired by big brands increase if you successfully implement such types of projects on blockchain. Explore our Popular Software Engineering Courses Master of Science in Computer Science from LJMU & IIITB Caltech CTME Cybersecurity Certificate Program Full Stack Development Bootcamp PG Program in Blockchain Executive PG Program in Full Stack Development View All our Courses Below Software Engineering Courses Blockchain-Based Voting System Electronic voting systems have replaced paper-based systems, but even now, people doubt the voting system’s ability to secure the data and defend against any attacks. The blockchain-based system can ensure transparent and publicly verifiable elections in the country. If implemented successfully, voting can be done using a mobile application that is attached to a blockchain system.  This project helps you to conduct voting at the national and organizational levels. You must ascertain certain things to let this project work. Firstly, the users’ details must be hidden in your application because of privacy issues. You have to use an Ethereum address that works as the user’s identifier. Secondly, an individual must be able to submit only one vote, and only when they are eligible. The voting process must be transparent and all voting rules must be followed. The next step is to accurately count and record the votes. No mistakes or fraud occurrences are accepted in such types of projects on blockchain. Blockchain-based systems can tackle the corruption observed in the voting process. This is because they provide a more transparent and straightforward platform for casting a vote. Mobile voting applications are also allowed to cast a vote. This system blockchain project provides decentralized nodes for digitally casting votes without any security pitfalls. This is because it features robust end-to-end verification. Also read, Blockchain career and its future growth  Transparent and Genuine Charity Application Many fake charity organizations pose as genuine and loot money from innocent people in the name of charity. Most people want to donate money to a good cause of charity, but they are unsure if the money is going to reach the right hands of the destitute.  The blockchain system can bring transparency to online charity trusts. Contributors can see the journey of the donation in realtime and confirm if it’s reaching the deserving hands or not. This blockchain project helps you to make a reliable and transparent charity application. It ensures that your donated money reaches needy people. Let’s understand how it works. The needy people will upload their details on the portal linked to the Blockchain system. The community accesses charity organizations’ and recipients’ data from the Blockchain and assists them directly. Implementing such blockchain technology projects assists needy people and ensures transparency in the transactions. Moreover, these types of blockchain technology projects curb middle-men profits and deceits. Explore Our Software Development Free Courses Fundamentals of Cloud Computing JavaScript Basics from the scratch Data Structures and Algorithms Blockchain Technology React for Beginners Core Java Basics Java Node.js for Beginners Advanced JavaScript A Decentralized Web Hosting System  The way web hosting works today is by hosting all the web content including textual content, code and media content on a centralized location which can then be accessed over the world wide web. But did you know? Your site is going to be down when there is server maintenance or if a load of the server gets high. What if with blockchain, your website doesn’t require a central server? With blockchain, you can split your website content into granules and distribute it all over the internet and then link them together using a blockchain registry. Web hosting can store all types of content. You can access the stored content anytime, anywhere. Your website will be inaccessible if the server crashes or fails. But you can take the help of blockchain technology projects to solve this issue. Blockchain technology can save effort, time, and money by allowing web designers to develop websites without depending on a centralized server. The blockchain vault helps you to reassemble all content you need. The non-dependence on a central server means that there will be no occurrences of the server failing or crashing. Disk Space Renting System  The idea here is to allow everybody on the planet to rent out their unused disk space which can be attached to a blockchain registry to create a massive worldwide cloud. The idea is similar to the peer-to-peer network, but with blockchain, it’s going to be completely decentralized. This idea can be implemented as a small project, but if applied globally, it can change the face of today’s cloud storage. This concept can also be extended to your compute power and memory provided you have an ultra-high-speed internet connection. In this project, Blockchain data structures strengthen network security by decreasing single-point-of-failure risk. So, it makes a database breach harder. Moreover, it avoids unauthorized access because every user in the Blockchain possesses their key. Loyalty Points Exchange System  With payback.in being an exception, most other brands and companies reward customers with their own loyalty points. This drawback in today’s system is a very unacceptable downside as the deserving customer cannot use his loyalty points with other companies or brands. Customers also cannot exchange or trade loyalty points with friends or family. With blockchain, you can implement a project that allows consumers to combine and transparently trade loyalty rewards.  In-Demand Software Development Skills JavaScript Courses Core Java Courses Data Structures Courses Node.js Courses SQL Courses Full stack development Courses NFT Courses DevOps Courses Big Data Courses React.js Courses Cyber Security Courses Cloud Computing Courses Database Design Courses Python Courses Cryptocurrency Courses The loyalty points’ data is maintained using blockchain. Hence, it improves security. The blocks can be checked to ascertain that no tampering has occurred. Blockchain system allows other brands to use the Loyalty exchange points. Hence, they can make their pitch attractive to bring more consumers. Customers can pay and redeem points in a system blockchain project. These points can be transferred to any other user or bank. The entire transaction history can be tracked. No transaction can be eliminated by any method because the blockchain can’t tamper with it. The missed data in transaction data, if any, can be detected and shown to the customers. Trackback Your Food to its Source You want to eat organic. You can buy organic, but do you really know if it’s organic? You know that there is an outbreak of bird-flu in few poultry farms, but do you know if the chicken leg in your plate came from one of those infected farms? Using blockchain technology, you can implement a system that can help consumers trace back the journey of fresh produce or meat to its source. Thereby, consumers can buy the product with a lot more trust. Read our Popular Articles related to Software Development Why Learn to Code? How Learn to Code? How to Install Specific Version of NPM Package? Types of Inheritance in C++ What Should You Know? Multi Send One compelling idea for blockchain projects final year involves developing an application that facilitates the distribution of ethers to multiple Ethereum addresses. Just as emails require recipient addresses, this application would allow users to allocate ethers to a list of Ethereum addresses. This innovation holds significant potential, especially in scenarios like disbursing employee salaries.  To materialize this concept, you would create an Ethereum smart contract, achievable using the REMIX IDE—an online platform tailored for crafting smart contracts using the Solidity language. By devising a function that accepts an array of addresses as its parameter and employing a straightforward loop within the function, you can seamlessly execute this project. This undertaking not only aligns with compelling blockchain project ideas but also aligns perfectly with pertinent block chain project topics. Ether Wallet Here’s another captivating blockchain project idea: Crafting an Ether Wallet. This innovative concept involves creating a wallet that empowers users to utilize their ethers. Within this project, you’ll design a smart contract capable of accepting ethers from various addresses and effecting transfers to other designated addresses. While such smart contracts might not have immediate utility, they serve as invaluable learning tools. This Ether Wallet endeavor will provide hands-on experience in manipulating and updating ether within a smart contract—a pivotal skill since the real potency of smart contracts lies in their financial transaction capabilities. Additionally, this project delves into the realm of access control, a vital aspect. Allowing open withdrawal could expose your funds to potential theft, thus requiring the use of the ‘required’ statement to implement access controls.  As you navigate through these foundational projects, you’ll pave the way for tackling more advanced blockchain projects with enhanced proficiency. This exploration could seamlessly lead you to delve into constructing a Smart Wallet, expanding upon the Ether Wallet project. These ideas align seamlessly with intriguing blockchain projects for students, particularly with blockchain projects for final year CSE or blockchain project ideas for final year. To-Do List App Let’s look at another intriguing proposition for a blockchain final year project: Developing a To-do List application empowered by Ethereum smart contracts. This project presents a unique opportunity to gain a comprehensive understanding of blockchain mechanics and general blockchain application dynamics. Traditional web-based To-do list apps rely on web browsers and servers for storage, but creating a blockchain-based version requires a distinctive approach.  Rather than direct server connections, interaction with the To-do list occurs through a browser, engaging a client-side application that you’ll construct. This application, unlike its web-based counterpart, bypasses the need for a web backend and database, opting to communicate directly with the blockchain. Within this blockchain environment, Ethereum smart contracts house the code constituting the To-do list app’s business logic.  Every task finds its place on the blockchain, within the smart contract’s repository. This intelligent contract effectively encompasses all tasks on the To-do list, affording capabilities like task addition, completion status updates, deletion, and more. This is an ideal choice for blockchain projects for beginners, offering a hands-on experience that aligns perfectly with captivating blockchain project topics. Let’s Conclude… These are ten project ideas that can be implemented by students and other beginners.  Pick the one that best suits you and please do tailor the concept as per your need. Above all, we hope this article was able to shed some light on the wide range of applications blockchain has on the real world. There is a rise in careers in blockchain technology and blockchain has tremendously changed the very face of the technology industry forever.  If you’re interested to become a blockchain developer and build smart contracts and chaincodes, checkout IIIT-B & upGrad’s Advanced certificate program in blockchain technology

The distributed-nature technology of Blockchain has disrupted many industries, with its uses and blockchain applications in supply chain leading to innovations everywhere. Bitcoin and other cryptocurrencies are just the initial use cases of the blockchain. The truth is that blockchain technology can be applied to far more sectors than was initially imagined. More security, decentralized nature, easy verification, and protected identities are just some of the many features that make the blockchain truly transformational. One area where this technology can be efficiently exploited is the supply chain sector. Learn Software Courses online from the World’s top Universities. Earn Executive PG Programs, Advanced Certificate Programs or Masters Programs to fast-track your career. Check out our free courses to get an edge over the competition. Blockchain essentially is a distributed ledger that is updated in real time with each network participant making a transaction. This specific feature can be put to good use when it comes to the supply chain management. Logistics demand transparency and traceability. It is clear that customers want their meat or grains to be exactly as has been promised on the packaging. Incorporating blockchain into supply chain management can certainly be a step towards ensuring that. With the potential to almost eliminate fatal errors, and minimizing courier costs, blockchain can be viewed as the next big step in supply chain management. Some companies have gone ahead and taken this step, with Walmart partnering with IBM for a project in order to trace their products much faster than traditional methods.   Here are a few use cases of blockchain which are certain to revolutionize the supply chain sector in the near future: Seafood tracing and verification News about mislabelled and ‘not-fit-for-consumption’ seafood have been floating around since 2016. The seafood industry faces a lot of problems due to difficulty in tracking produce from ocean to plate. In the event of a disease breakout due to seafood consumption, with the current supply chain logistics, it becomes tough to track and single out the source of the malicious activities. With blockchain, however, it can become a completely different story. With projects such as the Pacific Tuna project, which aims at putting a label on every tuna that makes it from the ocean to the market, blockchain applications in seafood tracing and verification is something we all can get behind. Seafood is physically tagged and the data is then stored on the blockchain to enable easy access at any time and place. The food supply chain, in general, can benefit from blockchain uses, and seafood is a particular use case that is particularly problematic and could use the extra help. Explore Our Software Development Free Courses Fundamentals of Cloud Computing JavaScript Basics from the scratch Data Structures and Algorithms Blockchain Technology React for Beginners Core Java Basics Java Node.js for Beginners Advanced JavaScript Check out upGrad’s Full Stack Development Bootcamp (JS/MERN) Pharmaceutical safety The problem with drugs and pharmaceutical safety is two-pronged- Tracing and verification, Second being Frauds. According to reports, the global fraudulent drug industry is worth about USD 75-200 billion. The traditional blockchain applications in supply chain just cannot be relied upon to bring down those numbers. The opacity of the chain is what causes the problem, and with blockchain applications thrown into the mix, the problem can certainly be reduced. Tracing drugs from manufacturer to buyer, it can be identified exactly where the problem in the supply chain lies. This can help counter fraud and prevent deaths due to counterfeit drug consumption. In-Demand Software Development Skills JavaScript Courses Core Java Courses Data Structures Courses Node.js Courses SQL Courses Full stack development Courses NFT Courses DevOps Courses Big Data Courses React.js Courses Cyber Security Courses Cloud Computing Courses Database Design Courses Python Courses Cryptocurrency Courses Check out upGrad’s Java Bootcamp.   Blockchain applications in supply chain can also ensure drug safety which environmental conditions may threaten. As medicines need to be at a certain cool temperature, it can be disastrous for shipments if, perhaps, the AC unit fails, and the driver is oblivious to the problem. With all medicine units on the blockchain, alerts could be issued whenever the temperature falls below a certain level or for other environmental conditions so that human intervention could fix the problem. Automotive supply chain It is predicted that blockchain applications in  supply chain are set to take over the entire automotive marketplace. Ownership, payments, financing, production, and tracking are all set to be blockchain-ed soon. Looking at the blockchain applications in supply chain part of things, one of the biggest problems with the automotive supply chain is the counterfeit parts industry. As with counterfeit drugs, fake automotive spare parts can also be tracked using similar logic and features of the blockchain. At every step of the way, companies can track the parts they produce and sell so that customers get what they want. Blockchain application helps in increasing the efficiency of the recall process as well. Since data about every car/vehicle produced is on the blockchain, it could be quickly identified when a shipped vehicle encounters a fault. This can be coded into a smart contract- with faulty parts triggering some clauses in the contracts, notifying the supplier to recall one or all units produced. Another example where blockchain has helped overhaul the automobile industry is the cloud-based AutoDX, short for Auto Exchange Data. It is designed with the assistance from IBM and can handle invoices, purchases, and even transport requests. At present, more than 60 firms employ this system and plans are afoot to overhaul the general system onto a one that works on an intelligent blockchain network. The reason for this is extremely clear – when automobile makers and component manufacturers are brought onto the blockchain, it brings a clear end-to-end supply chain visibility for everyone involved, which, in turn, improves the overall efficiency of the supply chain. Using the AutoDX platform, a purchase order from an automobile manufacturer is docked into its component marker’s system. The moment this is accepted, a sales order is automatically created without human intervention. AutoDX has successfully been able to shave off a large chunk (approximately 80%) of the vendor management, invoices, and supply chain management costs which accounted for 1%-5% of total costs. Explore our Popular Software Engineering Courses Master of Science in Computer Science from LJMU & IIITB Caltech CTME Cybersecurity Certificate Program Full Stack Development Bootcamp PG Program in Blockchain Executive PG Program in Full Stack Development View All our Courses Below Software Engineering Courses Maersk and IBM: collaborative efforts Two giants, Maersk and IBM, announced their joint efforts to use blockchain applications to revolutionize supply chain management in January 2018. The companies have been working together for several years, and this was how they made it formal and official. Other partners of the project include DuPont, General Motors, and Tetra Pak. Federal organizations have also shown support, including bodies such as the US Customs and Border Protection, and the Customs Administration of the Netherlands. The Maersk-IBM joint venture aims at commercializing- Paperless trade. The amount of paperwork involved in the supply chain is too much and unnecessary. The joint venture aims to eliminate the need of paper for contracts, agreements, and other documents, by digitization of all contracts, into smart contracts, perhaps. Shipping information pipeline. This enables everyone involved in supply chain management to seamlessly exchange information, as the chain is visible openly to anyone on the network. Transparency is what the supply chain needs, and that is what it’ll be getting. The project is aimed at providing value to every stakeholder in the supply chain, be it suppliers, retailers, producers or transporters. The project is still awaiting regulatory approval but is certainly a step in the right direction when it comes to blockchain applications in supply chain management. Master the Technology of the Future – Blockchain Blockchain-enabled Smart Contracts for Efficient Supply Chain Operations Blockchain technology has introduced the concept of smart contracts, self-executing contracts with predefined rules encoded directly onto the blockchain. In the supply chain sector, smart contracts have the potential to revolutionize operations by automating and streamlining various processes. Here’s how blockchain-enabled smart contracts enhance efficiency in supply chain operations: 1. Automated Order and Payment Processing Smart contracts facilitate automated order processing in the supply chain. Once predefined conditions are met, such as shipment delivery or quality inspection confirmation, the smart contract automatically triggers the payment to the supplier, reducing the need for manual intervention and accelerating the payment process. 2. Real-time Tracking and Transparency Blockchain-based smart contracts enable real-time tracking of goods along the supply chain. As each transaction or movement of goods is recorded on the blockchain, stakeholders can trace the journey of products from the point of origin to the final destination. This transparency enhances accountability, reduces delays, and minimizes the risk of fraud. 3. Improved Compliance and Auditability Smart contracts enforce compliance with predefined rules and regulations throughout the blockchain applications in supply chain. By recording all relevant information on the blockchain, auditing becomes more straightforward and less time-consuming. This ensures all parties adhere to contractual obligations, fostering trust among supply chain participants. 4. Supply Chain Coordination and Collaboration Smart contracts promote better coordination and collaboration among supply chain participants. When all stakeholders share access to the same data set on the blockchain, they can make informed decisions based on real-time information, leading to more efficient and coordinated operations. 5. Reduced Disputes and Discrepancies By eliminating the need for intermediaries and automating processes, smart contracts reduce the likelihood of disputes and discrepancies. All parties involved have access to the same information on the immutable blockchain, minimizing misunderstandings and conflicts. 6. Cost Savings and Efficiency Gains Blockchain-enabled smart contracts streamline supply chain processes, leading to cost savings and efficiency gains. With automated order processing, real-time tracking, and reduced administrative overhead, businesses can optimize their operations and allocate resources more effectively. Blockchain-enabled Smart Contracts for Efficient Supply Chain Operations Blockchain technology has introduced the concept of smart contracts, self-executing contracts with predefined rules encoded directly onto the blockchain. In the supply chain sector, smart contracts have the potential to revolutionize operations by automating and streamlining various processes. Here’s how blockchain-enabled smart contracts enhance efficiency in supply chain operations: 1. Automated Order and Payment Processing Smart contracts facilitate automated order processing in the blockchain applications in supply chain. Once predefined conditions are met, such as shipment delivery or quality inspection confirmation, the smart contract automatically triggers the payment to the supplier, reducing the need for manual intervention and accelerating the payment process. 2. Real-time Tracking and Transparency Blockchain-based smart contracts enable real-time tracking of goods along the supply chain. As each transaction or movement of goods is recorded on the blockchain, stakeholders can trace the journey of products from the point of origin to the final destination.  3. Improved Compliance and Auditability Smart contracts enforce compliance with predefined rules and regulations throughout the supply chain. By recording all relevant information on the blockchain, auditing becomes more straightforward and less time-consuming.  4. Supply Chain Coordination and Collaboration Smart contracts promote better coordination and collaboration among supply chain participants. When all stakeholders share access to the same data set on the blockchain, they can make informed decisions based on real-time information, leading to more efficient and coordinated operations. Master the Technology of the Future – Blockchain Blockchain applications in supply chain in the supply chain can result in benefits, and even though it is still in its initial stages, the potential for a supply chain revolution is huge. To become a blockchain developer and build smart contracts and chain codes, check out IIIT-B & upGrad’s Advanced certificate program in blockchain technology.

After taking the finance and business sector by storm, Blockchain applications in healthcare are now all set to radicalize the healthcare industry. Ever since its inception, there’s been a massive buzz around the concept of blockchain and after witnessing excellent results that blockchain technology has brought about for the Finance sector, healthcare giants cannot help but think of ways to incorporate applications of blockchain in healthcare. In fact, blockchain has already started penetrating the industry, and there are numerous Blockchain applications in healthcare to account for this statement. Learn Software Engineer Courses from the World’s top Universities. Earn Executive PG Programs, Advanced Certificate Programs or Masters Programs to fast-track your career. Check out our free courses to get an edge over the competition.  According to Statista,  applications of blockchain in healthcare would have been adopted by nearly 55% of companies by 2025. Then again, a BIS research report suggests that by the end of 2025, the net worth of blockchain in healthcare will reach $5.61 billion from $176.8 million (2018). Read more about how blockchain is transforming Indian industries. What is Blockchain and How Does it Work? At its core, blockchain is a decentralized system designed to record and preserve transaction data. It is an immutable, distributed ledger consisting of interconnected transaction blocks forming a peer-to-peer network. Blockchain leverages well-established cryptographic techniques to facilitate communication among network participants without requiring prior trust. Unlike traditional systems, there is no central authority governing the blockchain. Instead, all participants maintain and share transaction records. Interactions with the blockchain and healthcare are transparent to all parties, and any information addition necessitates network verification. This characteristic enables trustless collaboration between participants while creating an unchangeable audit trail of all transactions. While the chained blocks allow you to store different data types, the transaction is one of its common forms, including financial records and product inventories.  Blockchains are different from databases as they are functional in storing data in blocks instead of tables. This will create an unalterable timeline that documents any transactions.  Blockchains exhibit a decentralized nature, facilitating easy sharing of data. Nevertheless, they can also be configured as private and centralized systems exclusively used by a single entity. Blockchains demonstrate a self-correcting mechanism. If data within one block is compromised or tampered with, the information in the other blocks within the chain cross-references each other, helping to detect and rectify the error. Security is a fundamental characteristic of blockchains. Once a block is created, any attempt to modify it requires the consensus of most blocks in the chain, necessitating changes to the cryptographic codes of adjacent blocks. How Blockchain Improves Electronic Health Record Systems? Electronic health records (EHRs) have emerged as a vital aspect of patient care, offering comprehensive, precise, and easily accessible medical treatment histories for everyone. Nevertheless, safeguarding the sensitive personal data housed within EHRs presents increasing challenges with the growing complexity of health information systems (HIS). Addressing these security concerns is where one can find the applications of blockchain in healthcare. Electronic health records (EHRs) capture patient health data in a digital format, generated and stored by multiple healthcare facilities. Typically, the healthcare provider responsible for creating the record maintains primary access. Individual EHRs often lack completeness and suffer from inconsistent management by the organizations that create and maintain them. Consequently, healthcare providers face fragmented views of a patient’s medical history. Achieving comprehensive and accessible healthcare histories through EHRs encounters additional obstacles like interoperability challenges between health information systems (HISs) and ensuring effective access control through authentication. Applications of blockchain in healthcare addresses these limitations by interlinking EHRs and distributing records ownership among all stakeholders. It incorporates various security and authentication features, offering a promising solution to these challenges. Why Blockchain for Healthcare? The healthcare sector generates vast amounts of critical data that often remains scattered and unorganized across various systems. The lack of proper and adequate infrastructure further aggravates this issue as a result of which healthcare providers (HCPs) are unable to access vital information at times of need. The absence of a centrally monitored and administered system makes healthcare data susceptible to breach and corruption. If data is stored within a particular physical machine, then anyone who has access to it can tweak the data and misuse it or even corrupt it. Check out upGrad’s Advanced Certification in DevOps  Blockchain applications, however, do not need a centrally administered system since the data will be stored within blocks of a distributed ledger, safeguarded through intricate cryptography. In a blockchain-based system, it’s not possible to manipulate and corrupt the data since the tweaked hashes will not match what’s fed into the system. In the healthcare scenario, applications of blockchain in healthcare are not only helping preserve and safeguard data integrity but are also helping pharma companies in regulating the drug supply chain, recruiting patients for clinical trials, facilitating interoperability with IoT devices, and much more. Blockchain technology in healthcare are not only helping preserve and safeguard data integrity but are also helping pharma companies in regulating the drug supply chain, recruiting patients for clinical trials, facilitating interoperability with IoT devices, and much more. Blockchain is decentralized, distributed, and immutable, and hence, it holds an immense potential to transform the healthcare sector by minimizing operational costs, eliminating corruption of data, optimizing healthcare processes, and promoting transparency. Explore our Popular Software Engineering Courses Master of Science in Computer Science from LJMU & IIITB Caltech CTME Cybersecurity Certificate Program Full Stack Development Bootcamp PG Program in Blockchain Executive PG Program in Full Stack Development View All our Courses Below Software Engineering Courses Clear benefits that Blockchain provides As we’ve already discussed, Blockchain applications have truly overhauled industries across various domains. Blockchain technology in healthcare has brought forth benefits that were almost unimaginable just a few years back. If we talk about what is blockchain, we’ll realize that it’s indeed one of the most revolutionary technologies that have been presented to us in a long time. The Blockchain technology is immutable, decentralized, and therefore supremely secure. Whichever industry has opted the Blockchain route has realized that the applications of blockchain are what were needed to enhance their operations. The blockchain application examples find a place in everything from banking, retail, supply chain, and especially in healthcare. Check out upGrad’s Full Stack Development Bootcamp (JS/MERN) Healthcare has always been one of those industries that relied more on paperwork and manual labor. That, without a doubt, exposed them to a lot of security concerns. With applications of Blockchain finding their way in, there is no doubt about one clear benefit that Blockchain technology in healthcare provides. Even the future of it looks in safe hands now that Blockchain applications have proved their mettle in the healthcare industry. Explore Our Software Development Free Courses Fundamentals of Cloud Computing JavaScript Basics from the scratch Data Structures and Algorithms Blockchain Technology React for Beginners Core Java Basics Java Node.js for Beginners Advanced JavaScript Blockchain Projects in Healthcare As more and more HCPs are realizing the potential of applications of blockchain and healthcare, they are adopting the innovative tech within their core infrastructure with an aim to deliver quality healthcare services. Here are some of the most successful and influential  Blockchain applications in healthcare : 1. Doc.AI Founded by Walter and Sam De Brouwer in 2016, Doc.AI is a Palo Alto-based start-up that leverages both natural language processing  (NLP) and computer vision in combination with blockchain technology to secure medical data and extract meaningful insights from it. Doc.AI allows you to launch a ‘data trial’ which essentially means that one can access a bundle of medical data stored in its system. Once the relevant data is retrieved, data scientists analyze your data and make possible predictions by connecting the dots. You can then take this data to a trained medical professional. In-Demand Software Development Skills JavaScript Courses Core Java Courses Data Structures Courses Node.js Courses SQL Courses Full stack development Courses NFT Courses DevOps Courses Big Data Courses React.js Courses Cyber Security Courses Cloud Computing Courses Database Design Courses Python Courses Cryptocurrency Courses 2. FarmaTrust Although a developing platform, FarmaTrust is a blockchain-based platform that focuses on improving the integrity of the drug supply chain. FarmaTrust allows you to track and monitor the activities of pharma companies through a digital supply chain that helps monitor the pharmaceutical drugs that penetrate the industry. The primary aim of FarmaTrust is to combat and eliminate the propagation of counterfeit drugs in the industry. The platform seeks to achieve this end by connecting pharma companies, drug manufacturers and suppliers, wholesalers, pharmacies, logistics, pharmacies, and HCPs over a single-integrated network to promote transparency within the industry. This will also help in reducing the supply chain costs significantly. In the future, FarmaTrust hopes to develop advanced AI algorithms that can automatically leverage unsupervised machine learning techniques to detect fake drugs. 3. Chronicled Chronicled combines blockchain technology with IoT to enhance and improve traceability and accountability within the drug supply chain. When it comes to sensitive healthcare products (certain vaccines, for instance, are time and temperature sensitive), speedy and timely delivery is highly crucial. Chronicled makes this possible by using a combination of blockchain tech, AI, and IoT to drive end-to-end smart supply chain solutions. Partnering with The LinkLab, Chronicled had also launched the MediLedger Project in 2017  to improve the tracking and tracing features for prescription drugs in compliance with the Drug Supply Chain Security Act (DSCSA). Similar to FarmaTrust, the MediLedger Project also seeks to reduce the proliferation of fake drugs within the supply chain. 4. Patientory Patientory is an Atlanta-based startup that uses blockchain tech to facilitate end-to-end encryption of medical data while maintaining the HIPAA compliance requirements. It allows doctors, patients, and HCPs to store, retrieve, and transfer medical information with utmost safety. Through the Patientory app, you can create your patient profile and track and monitor your health history including checkups, medical bills, medical insurance, medications, test results, and much more. That’s not all – Patientory app also allows users to connect with the Patientory community to discuss their personal health concerns with others in the community and gain valuable tips from the experience of others. 5. SimplyVital Health SimplyVital Health was launched in 2017 by Katherine Kuzmeskas with an aim to combat and eliminate the inefficiencies surrounding value-based care. It’s product, ConnectingCare connects HCPs from various clinical institutions on the same table so that they can all view the data of shared patients. Powered by the blockchain technology, ConnectingCare allows HCPs to optimize and streamline their healthcare processes to reduce the cost as well as the duration of care for patients. Moreover, AI-powered financial and clinical algorithms offer actionable and strategic use of blockchain in healthcare solutions to patients. SimplyVital Health is further expanding its reach and ability with Health Nexus – a blockchain-based system and protocol that will facilitate safe and secure data sharing between patients and HCPs while adhering to the HIPAA compliance norms. These innovative platforms are striving to change the face of the healthcare sector for the better through blockchain-powered infrastructure coupled with advanced technologies such as AI and IoT. Today, use of blockchain in healthcare is helping HCPs to maintain longitudinal patient records such as disease registries, lab test results, and health issues much more conveniently than before. Also, with blockchain, there is no fear of the data being duplicated or misused since the entire medical data of a patient is fed into a ledger along with the primary key. Using advanced and sophisticated APIs, blockchain and healthcare makes EHR interoperability and data storage smooth, seamless, and secure. Furthermore, since the blockchain system will be monitored and administered by authorized HCPs and individuals, data reconciliation would become more convenient and also cheaper. These things are not possible with conventional methods that still heavily rely on manual discretion and labour to store, organize, and track medical data. At present, the penetration of blockchain technology is still quite slow, and so are the Blockchain applications in healthcare. In 2017, IBM surveyed around 200 healthcare executives and only 16 % of the respondents agreed to adopt blockchain technology. The potential that Blockchain applications in healthcare holds for the healthcare sector can be realized only if healthcare organizations show a willingness to adopt this technology and assemble the requisite technical infrastructure for it. As of now, all we can say is although the change may be slow, blockchain and healthcare will surely will surely create a lasting impact on the healthcare industry in the future. Shaping The Blockchain Future Blockchain technology in healthcare presents exceptional prospects for simplifying processes, promoting trustless collaboration, and ensuring the security and immutability of information. It is commendable to recognize the significance of monitoring this rapidly evolving field to identify trends and pinpoint areas where government support may be necessary for unleashing the technology’s full potential in the healthcare domain. To shape the future of blockchain technology in healthcare, it is essential to contemplate the following actions: mapping and bringing together the blockchain ecosystem, developing a blockchain framework to facilitate coordination among early adopters, and providing support for a consortium that promotes dialogue and discovery in the realm of blockchain applications in healthcare.  Bottom Line The intriguing aspect of blockchain technology lies in its core expansion and adaptability. Despite facing current limitations, its open nature fosters industry-wide innovation for the future. While collaboration of blockchain and healthcare have shown promise, there are challenges that healthcare professionals must address before fully realizing their potential. Use of blockchain in healthcare offer opportunities to enhance healthcare data administration with increased security and synchronized transactions. Read our Popular Articles related to Software Development Why Learn to Code? How Learn to Code? How to Install Specific Version of NPM Package? Types of Inheritance in C++ What Should You Know? If you’re interested to become a blockchain developer and build smart contracts and chain codes, checkout IIIT-B & upGrad’s Advanced certificate program in blockchain technology.

Ripple is a popular name in the tech industry. And Ripple blockchain has created a lot of buzzes. We all know how blockchain is transforming the industry as we know it. But what is Ripple a blockchain technology? What is it, and how does it work? In this article, we’ll answer these questions. You’ll also find out why it’s such a popular solution. So, without further ado, let’s get started.  Check out our free courses to get an edge over the competition   What is Ripple? Ripple is a for-profit platform and cryptocurrency. It’s a product of Ripple Labs and is gaining popularity because of its innovative method of performing currency exchange and payment settlements. The cryptocurrency of Ripple is XRP. And this platform has over a hundred organizations as its customers all over the globe.  They use Ripple because it provides them with hassle-free and fast transactions. Ripple’s cryptocurrency, XRP, has a valuation of more than $90 billion. This valuation makes it the third most valuable cryptocurrency according to market cap. It’s right next to Bitcoin. XRP is not for consumer use, but you can buy it. It’s not exactly a currency but more of a token.  Ripple has RippleNet, a network of payment facilitators. These are primarily banks and finance companies that use Ripple for conducting transactions smoothly all across the globe.  Check out upGrad’s Advanced Certification in DevOps Learn Software Development Courses online from the World’s top Universities. Earn Executive PG Programs, Advanced Certificate Programs or Masters Programs to fast-track your career. Explore Our Software Development Free Courses Fundamentals of Cloud Computing JavaScript Basics from the scratch Data Structures and Algorithms Blockchain Technology React for Beginners Core Java Basics Java Node.js for Beginners Advanced JavaScript How does Ripple Work? Ripple is not decentralized like other conventional blockchain networks. A strong network of validating servers and a ledger secure this system. The internal ledger of Ripple guarantees customer transactions. The parent company, Ripple Labs, handles the release of coins.  But the best thing about Ripple is, its transactions aren’t limited to its cryptocurrency, XRP. You can transfer any commodity, including gold, through Ripple as long as you’re able to find a facilitator who can make its transactions. Here’s a simple explanation of how Ripple blockchain works: Check out upGrad’s Full Stack Development Bootcamp (JS/MERN)  During ancient times, when there were no banks, people used to make transfers through payment agents. Suppose you wanted to send some money to your cousin who lives in another city. First, you’d notify him that you’re sending money and give him a password for withdrawing it. Then, you’d contact a payment agent and give him the money along with the password.  The agent will take the money. He will then take it to another agent and tell him to give it to the person who can provide the password. This way, your cash can easily reach the hands of your friend.  This system works when all the agents trust each other. Ripple uses banks and finance companies as their agents. Its algorithm finds a trusted path for conducting such transactions and ensures that everything goes smoothly. On Ripple, these agents are called ‘gateways.’ In theory, you can send anything such a car, goats, or gold through this system as long as you can find a gateway that could provide this commodity to the other party.  Ripple’s ledger ensures that all the IOUs between its various agents get resolved in real-time. And its efficient system enables fast procession of transactions.  Let’s take a look at XRP tokens, which are vital for conducting transactions in Ripple.  Explore our Popular Software Engineering Courses Master of Science in Computer Science from LJMU & IIITB Caltech CTME Cybersecurity Certificate Program Full Stack Development Bootcamp PG Program in Blockchain Executive PG Program in Full Stack Development View All our Courses Below Software Engineering Courses What are XRP Tokens? XRP is the cryptocurrency of Ripple. It’s a token that represents the transfer of value in the Ripple network. So, in conventional settings, companies use US dollars (or the local currency, such as INR) as the common currency for overseas transactions and transactions that occur between two places of different currencies.  The currency exchange costs a lot of time and fees. Due to this, such bank transfers can take up to 3 days to complete the process. This is where XRP comes in.  Ripple uses XRP as the common currency for performing currency exchange, which reduces the time and fees you’d have to spend. With the help of XRP, Ripple can conduct currency exchanges within seconds instead of taking 2-3 days.  This way, you get to save a lot of time. Regarding the procession fee, Ripple charges only $0.00001 for one transaction. That’s not a typo; it’s the actual fee.  The fee could’ve been zero, but Ripple has kept it to avoid scams and DDOS attacks.  Many banks and financial institutions have started XRP to facilitate their overseas transactions. The Commonwealth Bank of Australia, Santander, Fidor Bank, and 61 Japanese banks stated that they are either trying or using the Ripple network.  Difference between XRP and Bitcoin You might have some confusion between XRP and bitcoin, so let’s address them. First, XRP is limited to Ripple, whereas bitcoin is an independent cryptocurrency. Also, new coins get generated for participants who provide computational power to the chief blockchain network, in bitcoin. On the other hand, Ripple has created all the XRP coins (100 billion), and they release coins according to demand and supply. So, you can say that Ripple is a bank, too, as it handles the supply and demand of its currency.  Recently, Ripple has added a new feature in its network. They use smart contracts to release 1 billion of the XRP tokens they hold each month for funding business-related operations, selling to investors, and incentivizing customers.   Real-World Applications of Ripple Blockchain Ripple blockchain is significantly impacting the financial world, presenting real-world applications that are transforming cross-border payments and remittances. One of its primary and practical uses lies in its ability to serve as a global payment solution. Unlike traditional international transactions that can take days and involve high fees, Ripple’s blockchain ensures swift settlement and reduces transaction costs substantially.  Financial institutions are increasingly adopting Ripple’s blockchain for cross-border remittances. By utilizing its native digital asset XRP, these institutions can efficiently bridge different currencies, eliminating the need for multiple intermediaries and resulting in faster and more cost-effective transactions. Security and transparency are also strong points of Ripple’s blockchain. Its decentralized and immutable nature ensures data integrity and protects against fraud and cyber threats, fostering trust among transaction parties.  Beyond payments and remittances, Ripple’s blockchain is being explored for other practical use cases, including trade finance and supply chain management. Streamlining the tracking and verification of goods and payments enhances efficiency and reduces delays and disputes in the supply chain. Ripple’s blockchain technology is revolutionizing cross-border transactions with enhanced security and efficiency. It promises a more secure and efficient financial future as financial institutions adopt it for remittances and explore its potential in trade finance and supply chain management. In-Demand Software Development Skills JavaScript Courses Core Java Courses Data Structures Courses Node.js Courses SQL Courses Full stack development Courses NFT Courses DevOps Courses Big Data Courses React.js Courses Cyber Security Courses Cloud Computing Courses Database Design Courses Python Courses Cryptocurrency Courses How Ripple Got Started Even though Ripple’s founding year is 2012, the work on its concept started in 2004. Ryan Fugger started RipplePaay.com in 2005. It was a precursor to different blockchain currencies and gave secure online payment facilities to communities. But it didn’t get much traction. In 2001, Chris Larsen and Jared McCaleb approached Ryan.  They converted RipplePay into a digital transfer system. In the new order, community consensus verified transactions instead of miners, making it quite different from bitcoin.  They started working on the Ripple Transaction Protocol in 2012. This protocol could facilitate fast transactions and direct transfers in fiat currencies. To give the system better liquidity, they started the creation of a new value token too, which is XRP.  Many banks had started using this system by 2014 as it was an excellent solution for settling remittances. It evolved from a simple transaction platform to a cost-effective solution. Ripple has been able to grow continuously since then and has over 100 clients in its network. It’s a for-profit organization and has received investments from any Angel investors.  Key Milestones in Ripple’s Development Significant milestones have marked Ripple’s development since its inception. In 2012, the company introduced the XRP Ledger and its native digital asset XRP, laying the groundwork for its innovative technology. As the years progressed, Ripple made strategic partnerships with major financial institutions like American Express and Santander in 2014, enhancing its credibility in the financial world.  The turning point came in 2017 when RippleNet, its payment network, garnered attention from prominent banks and payment service providers, gaining widespread recognition and adoption. Ripple expanded global partnerships, continuing its growth, solidifying its position as a leading blockchain solution for cross-border payments and remittances. A clear vision and a remarkable history of achievements drive Ripple’s journey.  Their unwavering determination fuels a mission to revolutionize global transactions and push the boundaries of innovation in the financial sector. Notably, Ripple’s innovative solutions have garnered the trust and recognition of major industry players. As they continue reshaping the global payment landscape, Ripple is a testament to the power of determination and innovation. Is there a Ripple Blockchain? (What is RPCA?) The relation between Ripple and blockchain technology is unique. That’s because Ripple isn’t necessarily a blockchain solution. It has a cryptocurrency, but that doesn’t use blockchain, that’s why it can be a little confusing for some people.  As it doesn’t use blockchain, you might ask, ‘How does Ripple verify its transactions?’ Because without verification, Ripple wouldn’t be able to work at all. For this purpose, Ripple uses RPCA, which is an acronym for the Ripple Protocol Consensus Algorithm.  The word consensus refers to the ‘agreement’ section of Ripple. In Ripple, you need all the nodes of the system to agree with a process if you want to perform it. Suppose there’s a group of scholars who make all the vital decisions for the country if they want to go to war with someone they put it to vote and proceed with it only if they all agree. If one of them isn’t in agreement, they won’t make the decision. They’ll work it out with each other.  Security and Privacy Considerations in Ripple Blockchain Security and privacy are crucial aspects of the Ripple blockchain stock, prioritizing the protection of users’ transactions and data in the dynamic digital landscape. Ripple employs a robust consensus algorithm, the XRP Ledger, which relies on a unique agreement process among validators. This decentralized approach enhances security, making it highly resilient to malicious attacks and ensuring the integrity of transactions. Moreover, advanced cryptographic techniques safeguard sensitive information, preserving user anonymity and transaction confidentiality.  While the Ripple ledger is public, it ensures privacy by not disclosing users’ details, like names or addresses, during transactions. This pseudonymous approach shields user identities from public exposure, bolstering privacy protection. To further strengthen security, Ripple’s Interledger Protocol (ILP) enables secure cross-ledger transactions through encrypted communication between ledgers, mitigating the risk of unauthorized access to sensitive data.  Ripple’s commitment to compliance and regulatory standards provides a secure environment for financial institutions and users, facilitating transactions confidently while adhering to legal requirements. In conclusion, Ripple takes a human-centric approach to prioritize security and privacy, fostering trust and confidence in the digital financial ecosystem. Uses of Ripple There are plenty of applications of Ripple. The most prominent ones are the following: You can perform currency exchange without paying a high fee. As we mentioned earlier, the common mediation currency is the US dollar. It costs a high commission fee and takes a lot of time to convert one currency into USD, then from USD into another. Ripple uses XPR for this purpose. You get to save a lot of time in performing international transactions. Generally, these transactions take 2-3 business days. But with the help of Ripple, you can complete this process within a few seconds. Yes, the average time of processing transactions in Ripple is 4 seconds. You also have the option of creating your own currency. As we stated before, you aren’t limited to one currency. You can use other commodities for conducting transactions as well.  Read our Popular Articles related to Software Development Why Learn to Code? How Learn to Code? How to Install Specific Version of NPM Package? Types of Inheritance in C++ What Should You Know? Limitations of Ripple Everything has its flaws, and Ripple is no exception. It has some limitations, as well: It’s not decentralized like other blockchain solutions. People use cryptocurrencies because they are decentralized, but with Ripple, you have one organization controlling the supply and demand, making it similar to a bank. As of now, Ripple Labs own 61% of the total coins, making it a monopoly. Ripple is open-source, which makes it vulnerable to attacks. It’s highly unlikely but still something to consider. Summarizing Thoughts Ripple is one of the biggest names in the cryptocurrency industry. They have a huge market cap and are growing fast. Getting familiar with Ripple and its cryptocurrency, XRP, will surely help you if you’re interested in entering this sector. You can find out more about blockchain technologies in our blog, so be sure to check it out later. As a result, now is the perfect time to dive deeper into the world of Blockchain and understand the finer nuances of how it works. To help you with that, upGrad brings you the Advanced Certificate Program in Blockchain Technology. Offered in collaboration with IIIT-Bangalore, this course starts 30th September 2022 and runs for 7.5 months. So get yourself enrolled and start your Blockchain journey among global peers, industry-leading mentors, and all-around placement assistance. 

How Today’s Large Scale Industries Leverage Blockchain to Scale Their Manufacturing Process As a foundation for distributed ledgers, blockchain is an innovative technology in the current era that is packed with a wide range of use cases. Despite its initial speculations and concerns, industries are starting to adopt blockchain to leverage the technology’s transparency and underlying security. Companies that deal with finance, legal services, design; basically, any businesses that deal with a large volume of transactions on a day-to-day basis are gradually investing in blockchain technology. In this article, we’ll look at some of the instances of how today’s manufacturing firms use blockchain’s potential benefits to support their global supply chain network. Learn Software Engineering Courses online from the World’s top Universities. Earn Executive PG Programs, Advanced Certificate Programs or Masters Programs to fast-track your career. Check out our free courses to get an edge over the competition. Early Stages of Adapting Blockchain Large-scale manufacturing and supply chain is one of the most complex processes to understand from an end-customer perspective. With over billions of new products being manufactured, processed, shipped, and delivered daily, there are a ton of intermediaries that come into the picture, such as retailers, distributors, logistics providers, storage facilities, and so on. In such an ecosystem, keeping track of crucial changes and the order journey becomes tedious and lacks transparency from a supplier/manufacturer’s point-of-view. In early 2008, when blockchain was introduced to the world as an underlying security layer for bitcoin transactions, many industry-leading manufactures and businesses witnessed the endless opportunities this technology could deliver. Check out upGrad’s Full Stack Development Bootcamp (JS/MERN) With that in mind, companies adopted blockchain in different levels of their manufacturing process to keep track of each and every change and provide a layer of transparency to upper management & customers.  Explore Our Software Development Free Courses Fundamentals of Cloud Computing JavaScript Basics from the scratch Data Structures and Algorithms Blockchain Technology React for Beginners Core Java Basics Java Node.js for Beginners Advanced JavaScript Must Read: Blockchain Vs. Data Science: What You Need to Know Blockchain in Manufacturing – Use Cases The following real-time examples should give you a broader understanding of how large-scale industries use blockchain in manufacturing and its different stages. Check out upGrad’s Java Bootcamp.   1. Maintaining Assets in a Large Scale Industry  For example, consider an aircraft manufacturing firm (such as Boeing) that delivers industry-leading aircraft for commercial buyers (i.e., Indigo Airlines). A manufacturing company such a complex and crucial product needs to maintain several technical manuals used by the buyers, technicians for any repairs, operations, and plenty of other intermediaries. Such technical documentation needs to be regularly updated with detailed version history and information regarding who makes the changes and who access them. Not to mention, in most countries, certain aspects of aircraft manufacturing are government regulated, which could also mean that documentations are only accessible to restricted members of the manufacturer and buyer.  2. Document Version Tracking  Infosys is one of the Indian technology services providers who understood these challenges faced by their clients and adapted to blockchain in solving the transparency and trust issues for some of the world’s leading manufacturers. In the previously-stated example, blockchain can come in handy for maintaining several versions of technical publications. Since the blockchain framework is a block-based distributed and indestructible network, even the smallest changes in a document can be tracked and made available to restricted users. The subscribers of that blockchain (i.e., the buyers) can access the relevant information and the documents via predefined tokens, thus securing the framework’s contents from the rest of the population.  When bitcoin was introduced, technology enthusiasts thought blockchain was just a new logic that provided an additional security layer to bitcoin payment transactions. In an article published by the Harvard Business Review in 2017, they mentioned that tech companies such as IBM very soon realized the advent of a wide range of use cases presented by this unique technology. Soon, companies started to experiment blockchain in manufacturing and different aspects of services, such as version control, Internet of Things (IoT), money laundering, and fraud detection in banking & finance, sharing critical information as medical data to patients, and so on.  In-Demand Software Development Skills JavaScript Courses Core Java Courses Data Structures Courses Node.js Courses SQL Courses Full stack development Courses NFT Courses DevOps Courses Big Data Courses React.js Courses Cyber Security Courses Cloud Computing Courses Database Design Courses Python Courses Cryptocurrency Courses Quality Assurance and Warranty Management Blockchain-based solutions can revolutionize quality assurance and warranty management processes in manufacturing. By recording product information, including quality inspections, maintenance records, and warranty details, on an immutable blockchain, manufacturers can streamline warranty claims, reduce fraud, and ensure compliance. Consumers can verify the authenticity of products and access relevant information, enhancing their trust in the manufacturer’s commitment to quality. Factors enabling a company to leverage Blockchain in Manufacturing One common instance that is often overlooked in small-scale or startup manufacturers is how much the various parties that deal with making moving & delivering a product heavily depend on transparency. For instance, as explained earlier in the article, a manufacturing and supply chain process deals with a lot of intermediaries, such as suppliers, packers, and movers, etc. Consider a product certificate, determining the state of quality check done at each hub has gone missing in transit. This might not be a critical issue for that logistics service; however, on a larger scale, the manufacturer and supplier loses credibility in the process. Additionally, there are several negative consequences, especially in the manufacturing industry, such as environmental impact, unethical manufacturing practices that compel transparency between the manufacturer, the customer, and everyone involved in between. An unfortunate example is the 1996 Nike child labour scandal that exposed the company’s unethical practice of employing children in Pakistan’s manufacturing soccer balls. The businesses and customers who depend on these manufacturers should be provided with transparency to understand that the product they use daily is not made by endangering another human being.  Read: Blockchain Project Ideas & Topics Blockchain enabling Manufacturers to gain their customer’s trust There are some areas where blockchain in manufacturing can be of great help in gaining customer’s trust. For example, verifying the integrity claim (such as FSSAI) by manufacturers is often considered an expensive process in large-scale industries and requires proper scrutiny. Companies are manufacturing food products that go through various rounds of quality and integrity check and use blockchain to maintain an identical copy of each node (changes) in the framework. This enables product inspection and auditing in real-time, hence decreasing the time and cost consumed. Such a level of transparency makes network activities and other operations highly visible to the relevant authorities, thus automatically establishing trust.  Asset tracking is one of the other important entities in any manufacturing process. Keeping track of the moving products and their associated components, such as the product’s paperwork can become a tedious nightmare if there is no proper tracking mechanism in place. Manufacturers are starting to use blockchain to keep track of their precious goods and also to avoid shipping illegal or stolen goods as part of their production. Leveraging this technology, the company has created an indestructible sense of ownership as and when the product is made and moved out of the manufacturing warehouse.  Explore our Popular Software Engineering Courses Master of Science in Computer Science from LJMU & IIITB Caltech CTME Cybersecurity Certificate Program Full Stack Development Bootcamp PG Program in Blockchain Executive PG Program in Full Stack Development View All our Courses Below Software Engineering Courses Enhanced Supply Chain Visibility and Traceability Blockchain’s distributed ledger technology enables manufacturers to achieve end-to-end visibility and traceability throughout the supply chain. By recording every transaction and interaction on an immutable blockchain, manufacturers can securely track the movement of raw materials, components, and finished products. This enhanced visibility facilitates proactive quality control, reduces the risk of counterfeit products, and helps identify bottlenecks for improved efficiency. Smart Contracts for Streamlined Operations Smart contracts, self-executing agreements based on predefined conditions, offer significant potential for streamlining manufacturing operations. These contracts can automate processes such as procurement, order fulfillment, and payment settlements, reducing manual errors and enhancing operational efficiency. Manufacturers can leverage smart contracts to establish trust and execute transparent transactions with suppliers, distributors, and customers, resulting in cost savings and accelerated time-to-market. Smart Contracts for Streamlined Operations Smart contracts, self-executing agreements based on predefined conditions, offer significant potential for streamlining manufacturing operations. These contracts can automate processes such as procurement, order fulfillment, and payment settlements, reducing manual errors and enhancing operational efficiency. Manufacturers can leverage smart contracts to establish trust and execute transparent transactions with suppliers, distributors, and customers, resulting in cost savings and accelerated time-to-market. Use of Blockchain in Maintaining Financial Assets Financial entities are another area in manufacturing that requires the lion’s share of manpower and effort. Companies that produce heavy machinery like automobiles, power grids tend to repair their production equipment more often. Since the machines are basically running 24×7, they are susceptible to wear and tear and need to be replaced or repaired for uninterrupted quality production. For instance, in early 2018, Tesla bought millions of dollars worth of AI-based robotic arms for the sole purpose of fast-tracking the electric car manufacturing process and making it available for the end-consumer as soon as possible. Tracking these purchases and investments is a major challenge. Even though companies tend to have a strong finance team that oversees those spendings, it is important to maintain those records. This is an area where blockchain in manufacturing comes into the picture and can be handy in maintaining blocks of information regarding each purchase, accessible by the top management and auditors for industry regulation. Read about: How blockchain changing finance industry Integration with Emerging Technologies By continuously monitoring the performance of machines through IoT sensors, the data can be analyzed by AI and ML algorithms to detect patterns indicating potential malfunctions or breakdowns. This proactive approach allows manufacturers to schedule maintenance activities in advance, minimizing unplanned downtime and maximizing productivity. Integrating blockchain with IoT, AI, and ML in manufacturing means using smart sensors to collect data, storing that data securely on a blockchain, and then letting smart algorithms analyze the data to find ways to improve operations. This combination helps manufacturers make better decisions, optimize the process of production, and ensure that everything runs smoothly. Overall, the integration of blockchain with emerging technologies presents exciting opportunities for the manufacturing industry. It empowers manufacturers with valuable insights, efficient processes, and increased productivity, ultimately leading to better products and happier customers. Collaborative Manufacturing Networks Blockchain in manufacturing industry enables the creation of decentralized, collaborative manufacturing networks. Manufacturers, suppliers, and service providers can securely share data, including designs, specifications, and production schedules, on a blockchain. This collaborative approach fosters real-time communication, facilitates seamless coordination, and promotes innovation among stakeholders. Manufacturers can leverage this network to optimize production capacity, reduce lead times, and explore new business models. Sustainable Supply Chain Management With increasing emphasis on sustainability, blockchain for manufacturing offers manufacturers an effective tool for sustainable supply chain management. By integrating environmental, social, and governance (ESG) data into the blockchain, manufacturers can track and verify sustainable practices at each stage of the supply chain. This transparency helps meet regulatory requirements, enhance brand reputation, and enable consumers to make informed choices based on verifiable sustainability credentials. Opportunities in Blockchain and Manufacturing Blockchain in manufacturing is no longer a new concept since it is already being used to make our day-to-day consuming products. Understanding the technology’s importance and its long term susceptibility, not only manufacturers but most of the companies, large-scale industries with a decently funded R&D department is continuously looking for ways to adopt blockchain into their operations. The scope for this technology will only tend to expand in the forthcoming years since consumers are starting to demand more transparency from the manufacturers.  The adoption of blockchain in manufacturing continues to evolve, offering innovative solutions to address industry challenges and drive operational excellence. From supply chain visibility and traceability to streamlined operations through smart contracts, blockchain provides a foundation for secure, transparent, and efficient manufacturing processes. Now is the perfect time to dive deeper into the world of Blockchain and understand the finer nuances of how it works. To help you with that, upGrad brings you the Advanced Certificate Program in Blockchain Technology. Offered in collaboration with IIIT-Bangalore. So get yourself enrolled and start your Blockchain journey among global peers, industry-leading mentors, and all-around placement assistance. 

The advent of Bitcoin and its underlying tech, Blockchain changed the world, particularly the Banking and Finance sectors. However, with Bitcoin, the scope of development is quite constrained. Then came Ethereum – the world’s first programmable Blockchain. It took the Blockchain game to a whole new level, creating scope for developers around the world to build innovative applications on top of Ethereum. As a result, the craze for Blockchain tech only continued to escalate, thus, making Blockchain skills one of the hottest skills today! ‘Blockchain Developer’ is one of the most popular and emerging jobs now, and hence, it isn’t surprising that an increasing number of youngsters are steering toward it. But the most challenging part comes at the very beginning of the journey – Who is a Blockchain Developer? A blockchain developer is an expert in the field and is capable of developing cutting-edge decentralized applications (DApps), as well as crafting intricate smart contracts. Utilizing programming languages such as Solidity, Python, and JavaScript, these tech-savvy professionals possess an expansive knowledge of blockchain technology and the underlying principles for its use. Exploiting its immutability and transparency, these engineers are able to construct solutions that utilize the powerful functionality of blockchain to ensure secure and trustless data storage and user experiences. What Exactly Does a Blockchain Developer Do? If you’re wondering how to become a blockchain developer, you should first know what is it that a blockchain developer does. The following are some of them: Developing Smart Contracts and dApps: Blockchain developers serve a central task – creating smart contracts and decentralized applications (dApps). Smart contracts are digital agreements that self-execute without the need for intermediaries, utilizing programming languages such as Solidity – Ethereum’s own programming language. Experienced developers use their proficient programming skills to ensure transparent and secure transactions across the distributed blockchain network.  Security and Auditing: Maintaining the security of blockchain networks is critical; developers must implement a variety of sophisticated cryptographic techniques and security measures. From hashing and digital signatures to asymmetric cryptography, various encryption strategies are utilized to keep user data safe and secure. Moreover, blockchain developers are responsible for ensuring the resilience of the network; regular audits must be conducted to proactively discover any existing vulnerabilities. Through a process of code analysis, penetration tests, and rigorous security protocols, blockchain developers help protect the network from malicious attacks. By staying abreast of industry best practices and continuously updating their understanding of blockchain security, developers can effectively secure transactions and data stored on a decentralized ledger. Collaborating and Architecting Solutions: Blockchain developers work closely with cross-functional teams to design and develop innovative solutions using blockchain technology. They collaborate with project managers, designers, and other developers to understand business requirements and propose suitable blockchain architectures. These professionals analyze various use cases and determine the most effective implementation strategy for a given project. They assess different blockchain platforms and frameworks, considering factors such as scalability, consensus mechanisms, and interoperability. By evaluating these aspects, blockchain developers can architect robust and scalable solutions tailored to the specific needs of the organization or project. What Skills Does a Blockchain Developer Need? Now that you know what what a blockchain developer does, let’s look into the skills needed for how to become blockchain developer. Programming Languages: Proficiency in programming languages is paramount for a blockchain developer. A comprehensive understanding of Solidity, a key language used for Ethereum smart contracts, is essential. Other valuable languages such as Python, JavaScript, or Go can be beneficial for developing decentralized applications and integrating blockchain with existing systems.  Blockchain Frameworks and Platforms: A sound knowledge of blockchain frameworks and platforms is critical in order to excel as a blockchain developer. Ethereum, Hyperledger Fabric, and Corda are three of the most commonly used platforms. A deep comprehension of their structures, consensus mechanisms, and processes of smart contract deployment are necessary for effective development.  Cryptography and Security: A mastery of cryptographic algorithms and security protocols is of the utmost importance for every blockchain developer. This includes cognizance of encryption techniques, digital signatures, and hash functions. Furthermore, staying abreast of changes in the domain of cyber security and conducting regular security audits of blockchain networks is also critical. All of these concepts work together to safely process and protect sensitive data as well as promote secure transactions.  Distributed Systems and Data Structures: Having expertise in distributed systems and related data structures is imperative for the successful use of blockchain. Concepts such as consensus algorithms, peer-to-peer networks, and distributed databases, to name a few, are integral to establishing reliable and long-lasting blockchain networks. Gaining a thorough understanding of such concepts is essential for taking full advantage of this revolutionary technology.  Problem-Solving and Analytical Skills: Blockchain development is not without its complexities, and thus, problem-solving and analytical skills are paramount. This involves identifying roadblocks, maximizing performance, and resolving issues swiftly. Furthermore, the aptitude to discern business requirements, analyze the data associated with them, and propose viable solutions is essential for successful blockchain engineering. Learn Software Programs from the World’s top Universities. Earn Executive PG Programs, Advanced Certificate Programs or Masters Programs to fast-track your career. How to Become a Blockchain Developer? In this post, that’s what we’re about to address! We’ll take you through a step-by-step journey of how to become a blockchain developer from scratch. Let’s begin! 1. Define and establish your goals. For a beginner, Blockchain is a complicated technology. While Blockchain and cryptocurrencies can bring you a lot of profit, first you must understand what you wish to accomplish with Blockchain tech. So, you must ask yourself the following questions and find answers to them: • Do you want to work for a Blockchain company, or do you want to be an entrepreneur and create your own Blockchain products/services? • Do you want to disrupt and dysfunctional industries through Blockchain? • Do you wish to transform governance through the decentralization aspect of Blockchain? • Do you want to be a Blockchain Developer who works on Blockchain software or do you want to build applications on top of Blockchain tech? If you work as a Blockchain Developer for a reputed company, you can earn extremely high salary packages. This is because there is a significant shortage of adequately skilled Blockchain Developers. However, if you are an independent entrepreneur developing Blockchain applications, you can raise a lot of money for your projects via funding. Answering these questions will help you understand what exactly you want out of your Blockchain career. 2. Choose one Blockchain network. It’s not necessary to master all the Blockchain networks inside-out – you can choose one and specialize in it. Bitcoin, Ethereum, and EOS are the most popular Blockchain networks out there. Bitcoin is undoubtedly the most stable and widely used Blockchain tech for processing valuable transactions, but then it can handle only simple transactions. On the contrary, Ethereum was designed to overcome the limitations of Bitcoin by running ‘smart contracts.’ Smart contracts can run any arbitrary computation, unlike Bitcoin. EOS too can run smart contracts. However, EOS is much more scalable than Ethereum, and unlike Ethereum, it allows for free transactions. While EOS may look like the best choice, remember that it is more scalable which leads to a centralization of sorts (contrary to the decentralization feature of Blockchain). Thus, the smart choice here is Ethereuem since it is highly programmable, supports Ethereum tokens, and is backed by an active community of talented developers. Explore our Popular Software Engineering Courses Master of Science in Computer Science from LJMU & IIITB Caltech CTME Cybersecurity Certificate Program Full Stack Development Bootcamp PG Program in Blockchain Executive PG Program in Full Stack Development View All our Courses Below Software Engineering Courses 3. Get familiar with Dapps. After choosing your focus of study (Blockchain network), you should get familiar with Decentralized Apps or Dapps. More than 2,000 applications built on Ethereum (for example, Marketplaces, Decentralized Exchanges, and Gambling Dapps) already exist. So, you can get a headstart there. To explore the different kinds of Dapps, you can check out Dapp list websites like StateOfTheDapps and DappRadar. Now, it’s time to decide what you want to build. Is it a gaming Dapp or a decentralized exchange or something unique? Once you figure this out, you should figure out how you wish to develop your Dapp. For developing a Dapp, you must learn how: • The Ethereum protocol works • To write smart contracts in Solidity • To assemble all the pieces in a Dapp Growing Demand for Software Engineers in Blockchain Technology 4. Get familiar with the different libraries and development tools. To successfully write smart contracts and develop Dapps, you must learn to use the following development tools: • Truffle – it is one of the most widely used frameworks for building Ethereum Dapps. Truffle is written in Nodejs and is backed by a strong community. • Web3 – it is a library that can communicate with Ethereum clients like Geth, Parity, etc. The advantage of Web3 is that it can dynamically create abstractions (objects) to represent a smart contract. • Solc – it is the compiler of the Solidity programming language and is written in C++. It comes with its distinct Github repo. • Remix – it is an online IDE for writing Solidity smart contracts. • Ganache – it is a local Ethereum Blockchain for developing Dapps. It allows you to run a command to trigger a local Ethereum node and get ten addresses pre-funded with Ether. • Metamask – it is an Ethereum wallet designed to act as a browser extension. Dapps uses Metamask while requesting a user to sign a transaction and sanction it. In-Demand Software Development Skills JavaScript Courses Core Java Courses Data Structures Courses Node.js Courses SQL Courses Full stack development Courses NFT Courses DevOps Courses Big Data Courses React.js Courses Cyber Security Courses Cloud Computing Courses Database Design Courses Python Courses Cryptocurrency Courses 5. Learn Solidity to write smart contracts. While smart contracts make up the foundation of Dapps, Solidity is the primary language choice for writing smart contracts. Solidity’s is a compiled and typed language with a syntax similar to that of Javascript. Smart contracts are nothing but small programs that can run autonomously once deployed on the Ethereum network. So, once you implement them, you don’t have to do anything else – the system runs them automatically, thereby giving the admin control to no individual. Most people resort to learning Solidity with CryptoZombies, a game designed to introduce and teach the fundamentals of Solidity by generating an army of Zombies in a smart contract. While this is an exciting way to learn Solidity, you should also be thorough with the official Solidity Documentation for it is the most comprehensive guide on Solidity. It is updated regularly and will teach you the basics of Solidity, including the primary variable types, the main control structures, and the overall structure of a smart contract. 6. Develop a Dapp. Once you’ve learned the nitty-gritty of Solidity, it is time to put your theoretical knowledge to test by building a Dapp. Smart contracts aren’t exactly user-friendly, and hence, the requirement of Dapps. Dapps allow users to interact with them seamlessly. Before building a Dapp, you must understand how it works. Let’s demonstrate this through a game – Cryptokitties, an Ethereum-based game that allows players to buy and trade kitties. When you visit the Cryptokitties website, you land on the main user-interface – the frontend part looks just like a standard web app, and the backend is deployed on private servers. Then begins the Blockchain layer with Metamask. The players use Metamask to transfer Ether to Cryptokitties. After this comes to the smart contract that stores all the game data. Since the smart contract is deployed on the Ethereum network, it is hosted by multiple machines simultaneously. This is precisely the design of a Dapp. First, there’s the frontend and backend. Then you have the browser extension (here, Metamask), and then finally, you have the smart contracts. To successfully develop a Dapp, you must ensure that these three layers can communicate with one another seamlessly. There are various articles, videos, and ebooks that teach you how to build a Dapp from scratch. EatTheBlocks Pro is an excellent resource for tutorials on Ethereuem and Solidity. The last step – prepare for Blockchain interviews. As you progress through these six steps, you’ll gain an in-depth understanding of Blockchain technology, Bitcoin and Ethereum, Solidity, smart contracts, and Dapps. And as a beginner in the field, that’s all you need to get started with – the rest you can learn as Blockchain advances. We hope this helps! If you are interested to create blockchain applications from scratch, check out upGrad & IIIT-B’s Executive Certification in Blockchain from IIITB.

Earlier this year, Consensys announced its list of the top 20 Blockchain projects. Out of the 20 Blockchain projects, 16 are built on the Ethereum platform alone! With Blockchain advancing steadily in the industry, the number of Blockchain projects is increasing as we speak. The Blockchain community is actively engaged in building quality Blockchain projects that have the potential to transform the way we do things.  Learn Software Development Courses online from the World’s top Universities. Earn Executive PG Programs, Advanced Certificate Programs or Masters Programs to fast-track your career. Check out our free courses to get an edge over the competition.  Today, we’ll talk about five such Blockchain projects that can create a lasting impact on the modern industry. Top 5 Blockchain Projects 1. Uhive Uhive is Blockchain project that aims to take social networking to a whole other level. On the Uhive platform, you can connect with family and friends and also explore your interests just like any other social media platform. However, what’s unique is that each user is allotted “spaces” whose value increases with increasing levels of traffic and engagement (likes, comments, shares, and mentions) on the platform. Here, each space is treated like property (like real estate in the real world) which can be bought, sold, rented, and monetized in different ways.  Users who will be using Uhive on a daily basis for routine social media activities will be rewarded accordingly – every week, Uhive will share a significant portion of its ad revenue with its users through the Uhive token.  Check out upGrad’s Advanced Certification in DevOps  While a user can own multiple spaces in different locations – 26 locations in the Civilized World and infinite locations in the Grey World. The Grey World is a private, safe space wherein “you can express yourself anonymously.” So, you can be whoever and whatever you want to be in this space while remaining completely anonymous. Nothing to worry here since the platform doesn’t allow any illegal activity via the Grey World.  Explore our Popular Software Engineering Courses Master of Science in Computer Science from LJMU & IIITB Caltech CTME Cybersecurity Certificate Program Full Stack Development Bootcamp PG Program in Blockchain Executive PG Program in Full Stack Development View All our Courses Below Software Engineering Courses 2. GOeureka GOeureka is a travel tech company that leverages Blockchain technology to revolutionize the hotel experience for customers. According to the official website, GOeureka has over 400,000 hotels in various global locations.  The idea behind using Blockchain tech to design a user-friendly and decentralized hotel booking platform is to empower customers with greater transparency by allowing them to communicate with hotels and hotel owners directly. With Blockchain tech, GOeureka aims to provide a dynamic digital experience to users by eliminating hidden costs and commission usually imposed by online travel agents/agencies. It the site itself, users can choose their desired location, the check-in and check-out dates, and the number of guests.  Check out upGrad’s Full Stack Development Bootcamp (JS/MERN) By minimizing the financial commitments of hotels and their reliance on third-party booking platforms, GOeureka is helping hotels around the world to shift their focus on providing quality services to customers. Explore Our Software Development Free Courses Fundamentals of Cloud Computing JavaScript Basics from the scratch Data Structures and Algorithms Blockchain Technology React for Beginners Core Java Basics Java Node.js for Beginners Advanced JavaScript 3. CogniPet Today, the pet market has become so vast and diversified that it has become a profitable business for illegal breeders and criminals. Miscreants and unlicensed breeders/traders are illegally trading animals and pets (many of which are abused, malnourished, and sick) around the globe. CogniPet seeks to fight and combat animal trafficking and abuse by leveraging Blockchain tech. In-Demand Software Development Skills JavaScript Courses Core Java Courses Data Structures Courses Node.js Courses SQL Courses Full stack development Courses NFT Courses DevOps Courses Big Data Courses React.js Courses Cyber Security Courses Cloud Computing Courses Database Design Courses Python Courses Cryptocurrency Courses In essence, CogniPet is an intelligent matchmaking marketplace where breeders and pet owners with a native rating function can interact and engage. It combines Blockchain tech with Facial Recognition to provide pet protection to the animals registered in its system. CogniPet facilitates ownership transfer. Read our Popular Articles related to Software Development Why Learn to Code? How Learn to Code? How to Install Specific Version of NPM Package? Types of Inheritance in C++ What Should You Know? While Blockchain will help registered pet breeders prove that they are the real owner of the animals, after the sale, they can transfer the timeline ID proof to the buyer. This becomes a digital proof and certificate of ownership. The animals are given a unique and secure digital identity that is linked to genealogical and medical data. Together, the Blockchain and AI-powered Facial Recognition allows for easy and quick tracking of lost pets.  Different Types of Blockchain & Their Uses At present, CogniPet is developing an app to help users arrange animal photos in an organized manner. This will facilitate the fast and speedy tracing of lost pets by allowing the system to browse through the database for the images of missing pets. Users will also be able to store and organize vital information (breed, location, time-stamp, etc.) about animals/pets on the Blockchain network. The data will be safe, thanks to cryptographic keys.  4. Odem  ODEM stands for On-Demand Education Marketplace. It is a Blockchain-based educational marketplace that can be used in both academic and enterprise applications. ODEM cuts out the middleman from the equation – it directly connects candidates, educational institutions, and employers to “make education and employment more affordable, accessible, verifiable and transferable.”  ODEM offers a decentralized file storage system to let instructors/students access the Ethereum Blockchain for maintaining academic records. In ODEM, educators/educational institutes and students can store credentials in the form of Ethereum smart contracts. These smart contracts will also validate the courses taken by individual students.  Once a student has completed his/her training, they can share the stored credentials with prospective employers. This helps potential employers to verify qualifications quickly. ODEM’s Skills Wizard feature helps students create a career profile for the perusal of potential employers. As for transactions in this domain, ODEM has a proprietary ERC-20 cryptocurrency token – ODE – to pay for tokenized transactions. 5. Cinemadrom  According to its official website, Cinemadrom is an “International Blockchain Network of Independent Filmmakers.” It is a platform that leverages Blockchain tech to finance, produce, and distribute film projects. Cinemadrom aims to transform the face of global cinema through its two core areas of application:  Cinema Industry – It is a perfect platform for online movies, film agencies, social networks, film markets, film studios, and film distribution agencies. Crypto industry– It supports mining, cryptocurrency, insurance, multicurrency, investments, and wallet.  With Cinemadrom, filmmakers and cinematographers can raise funds for their movie projects and also use it to distribute their finished projects. Since this is an exclusive channel for the film industry, filmmakers can get better exposure for their craft, thereby boosting the sales. They can use the platform to enter the international film industry and market. Also, as movie makers make more profits, distribution companies can increase their distribution fees. Furthermore, Cinemadrom also lets movie makers and advertisers create portfolios of target audiences based on economic, religious, intellectual, social, and geographic factors. This helps in the creation of a loyal viewer and fan base. Types of Blockchain Projects  There are five types of blockchain projects for final year students to try: ‘Fear of Missing Out’ Blockchain Projects FOMO ideas are entirely centralised since they are usually handled by an individual corporation for application internally or with a relatively small number of collaborators. They normally occur when an organisation wants to be considered creative but still hasn’t completely analysed how the blockchain would benefit the organisation or the possibility that it is the most suitable technology. Opportunistic Solutions These blockchain solutions address any existing issue, especially record-keeping-related challenges. They consistently add quality to the company irrespective of whether they are applied at work or not for some time. The possibility of eventually losing authority over data and agreements is the only disadvantage of this project type. Trojan Horse Solutions A reputable brand supports these projects. They usually have solid technological roots. They typically deal with well-known, costly and extensive challenges within a particular field. They require users to share necessary data and give up certain authority to allow the sole blockchain holder to cash in from a concentrated market. Evolutionary Solutions The evolutionary archetype of blockchain solutions is built to develop over time and utilise tokens with decentralised management. Blockchain technology makes it possible to stop inflated prices and restrict the involvement of unauthorised users on the site. Each ticket is tokenized, associates the buyer’s data to their purchase, and archives it. Blockchain-Native Solutions These solutions are developed by start-ups or larger groups of well-established businesses that seek to undermine the current ecosystem or build a fresh set of possibilities. Such a blockchain project might not initially have a decentralised and tokenized management, but it will eventually offer to evolve in that path. Why are Blockchain Projects Important? Blockchain projects are not only interesting but also quite important for developers. Some of the importance of these projects are as follows: The Structure is Decentralised  Blockchain projects are decentralised, which means a single central organisation or person does not control them. This implies that anybody and all individuals have access to blockchain projects. Blockchain Projects are Immutable Decentralised blockchain projects have the additional benefit of being immutable, which means that once data has been added to the blockchain system, it cannot be modified or deleted without authorisation to access it. Authorised Control of Data  Blockchain projects that give individuals ownership over their share will be important in the coming years. Users can decide how the information they provide is employed and who has authority over it by modifying the conditions on their end when they are given the opportunity to monitor it. Tokenization  Tokenization plays an important role in blockchain projects with source code since it lets you exercise control without needing actual ownership of a tangible thing or resource. Additionally, it enables partial ownership, which makes operations like crowdfunding much simpler than before the tokenization process. Wrapping Up These are only five among the many, many, fantastic Blockchain projects that are taking shape as we speak. Such pioneering Blockchain projects go to show that the technology indeed has tremendous potential and capabilities that are yet to be uncovered.  There is a rise in careers in blockchain technology and blockchain has tremendously changed the very face of the technology industry forever.  If you’re interested to become a blockchain developer and build smart contracts and chaincodes, checkout IIIT-B & upGrad’s Advanced certificate program in blockchain technology.

Blockchain has become one of the most sought-after skills in the tech sector. According to a 2018 PwC survey on 600 executives belong to 15 different regions, around 84% of the respondents said they were using blockchain in some way. (Source) Even in India, the demand for blockchain professionals is increasing rapidly as both government and private organizations look for ways to use this robust technology. All of this buzz can make you wonder, “What is Blockchain?”  To help you find the answer to this question, we have prepared the following blockchain tutorial for beginners. It covers all the necessary aspects of blockchain so you can get familiar with this technology and pursue a career in blockchain.  Nevertheless, it is a very detailed blockchain tutorial so we recommend bookmarking this page. You can keep it as a reference to come back to it later.  Check out our free courses to get an edge over the competition. Learn Software Development Training online from the World’s top Universities. Earn Executive PG Programs, Advanced Certificate Programs or Masters Programs to fast-track your career. We’ll start our blockchain tutorial for beginners by explaining blockchain first:  What is Blockchain?  The term “blockchain” is made up of two words “block” and “chain”. We can define blockchain as a chain of blocks containing information. Blockchain timestamps digital documents so it is impossible to tamper with them or change their date. The primary goal of blockchain is to solve the problem of keeping double records without requiring a central server. A blockchain is a constantly growing ledger that securely and permanently records all transactions in a chronological and immutable manner. Let’s Break it: Ledger: It refers to a continually growing file. Permanent: Once a transaction is added to the blockchain, it becomes a permanent entry in the ledger. Secure: Blockchain utilises advanced cryptography to ensure that information remains secure within the blockchain. Chronological: Transactions occur in sequential order, with each new transaction following the previous one. Immutable: As transactions are added to the blockchain, the ledger becomes unalterable. A blockchain is composed of interconnected blocks that store transactional information. Each block records recent transactions and, upon completion, becomes part of the unmodifiable blockchain database. The process continues as new blocks are generated. Also blockchain technology tutorial is essential to understand the intricacies of this innovative technology in the real world. Check out upGrad’s Full Stack Development Bootcamp (JS/MERN) It is an incorruptible digital ledger of transactions that you can program to record nearly everything of value. The simple version of a blockchain is a chain of blocks holding records of transactions taking place in the network.  Note that the “block” in the blockchain is digital information while “chain” is a public database. In a blockchain, the blocks are spread across multiple systems and not just stored in one place.  Check out upGrad’s Java Bootcamp.   How Do Blocks Work? – Explaining the Blockchain Technology A block stores all the primary details about transactions including the time, date, transaction amount, etc. It also stores information about the participating entities of the transaction. For example, if you purchase a product from a vendor, the block would record your unique digital signature. Yes, it doesn’t store your name. In a blockchain, every user has a unique digital signature and the information about their transactions is recorded by using their unique signature, not their actual name.  The users of the blockchain aren’t the only ones who have unique qualities. Every block in a blockchain network has a unique code which makes it distinct and separate from the rest. This unique code is called a “hash”.  How much data a single block can store depends on the size of the transactions. One block is capable of hosting a few thousand transactions and the hash code ensure that every block in the blockchain is in sync with the others.   If there are too many blocks in the blockchain, the ledger size would increase accordingly. The large network of the ledger is the primary reason why a blockchain is so secure. Because it is decentralized, the failure of one block wouldn’t cause the entire network to fail, allowing the network to remain intact. Moreover, if the security of one block is compromised, it wouldn’t result in the breach of the entire blockchain.  Blockchain is a software protocol similar to SMTP for email. Nevertheless, you can’t run a blockchain without the internet.  What Constitutes a Blockchain Wallet? A blockchain wallet serves as a digital repository utilized for the storage, management, and interaction with cryptocurrencies. It empowers users to securely safeguard their private keys, which are indispensable for accessing and managing their digital assets on the blockchain. Blockchain wallets manifest in diverse forms, encompassing software wallets, hardware wallets, and online wallets, each affording distinct levels of security and convenience. A blockchain tutorial for beginners can provide valuable insights into the world of digital currencies and their management. Blockchain Use Cases Blockchain is a versatile and robust technology. Due to its unique nature, almost every industry can benefit from integrating it into its daily operations.  Potential Use Cases Blockchain is a relatively new technology and we can use it in many sectors. Following are some of the potential use cases of blockchain: Bookkeeping and Record-Keeping Every industry has to perform bookkeeping and store records. These records possess valuable information leaking of which can cause many issues for the corresponding business. Blockchain offers a highly secure way of bookkeeping and record-keeping, ensuring that unwanted parties and malicious people can’t access them.  Voting  To prevent voting fraud, governments can use blockchain technology for issuing voter IDs and recording votes. As we have discussed before, blockchain provides a highly secure solution for storing data and making changes to the data stored in the blockchain is very challenging. Blockchain can help in keeping the voting process transparent and quick.  Self-Driving Cars Apart from using AI and machine learning, self-driving cars would utilize blockchain technology to keep their data secure and safe from unwanted parties. In 2019, IBM filed a patent for a project that permits information management for self-driving cars through blockchain.  Robotics and IoT Through blockchain, you can create a decentralized network of drones and robots. It ensures that the failure of one drone wouldn’t affect the rest of the network.  Data Management in Healthcare Hospitals, nursing homes, and other medical institutes can use blockchain to store and manage data about their inventory, patients’ medical records, and the institution’s financial transactions.  Learn more about blockchain technology use cases. Existing Use Cases Here are some of the real-life examples of blockchain implementations: Blockchain in Dubai The smart Dubai office, in 2016, launched the blockchain strategy to connect entrepreneurs and developers with investors and venture capitalists. It aimed to enhance the development of Dubai and make it ‘world’s happiest city. They aim to make Dubai a fully blockchain-based city by 2020.  UN World Food Programme The UN World Food Programme had used blockchain technology in 2017 to help the rural areas of Pakistan’s Sindh region. They sent food, money, and other necessary material to the residents and used blockchain to record all the transactions. Blockchain ensured that all of its transactions remained transparent and secure.  Blockchain-based Startup Incent is a startup that allows businesses and content creators to grow their audience, reward them and monetize the content. It is Consumer retention as a service (CRaaS) solution where the system generates codes for the viewers of a specific creator. The viewers can redeem these codes and earn rewards, benefitting both the creator and the viewer. They use blockchain technology for their transactions.  Cryptocurrencies (Bitcoin, Ethereum, etc.) Our blockchain tutorial for beginners would be incomplete without mentioning the most popular application of blockchain technology, cryptocurrencies. Bitcoin, the most popular cryptocurrency right now, was the first application of blockchain and it offers many advantages to its users. Cryptocurrencies allow businesses to conduct transactions safely and more efficiently.  Misconceptions About Blockchain (What Blockchain is Not) To understand blockchain, you must first distinguish between the truths and myths surrounding this technology. Here are some of the common misconceptions about blockchain, you should know: Myth: Blockchain is a Replacement of a Transaction Processing System  Reality: You can use blockchain to replace a transaction processing system only in particular scenarios. It is not a replacement for a full-fledged transaction processing system.  Myth: Blockchain is Necessary Even if There is No Business Network Reality: If a business network doesn’t exist, you don’t need to implement blockchain technology.  Myth: Blockchain is a Product  Reality: Blockchain is not a product you can buy. The utility in the blockchain is because of the various applications you can build on top of it.  Myth: Blockchain is All About Bitcoins Or Blockchain is Bitcoins  Reality: Although bitcoin is the first application of blockchain, blockchain is not all about bitcoins. Bitcoin is a cryptocurrency based on blockchain where bitcoin is the digital token and blockchain is the ledger. You can have a blockchain without bitcoins but you can’t have bitcoins without blockchain.  What are Blockchain Variants? In this section of our blockchain tutorial, we’ll cover the different variants of blockchain technology.  Public Blockchain The distributed ledgers in the public blockchain are visible to every user. Here, every user is capable of modifying and verifying the blocks present on the blockchain. Some prominent examples of public blockchain are Ethereum, Factom, and Bitcoin.  Private Blockchain A private blockchain network usually belongs to a particular organization. Here, only several particular people of the organization can modify the transaction blocks. Still, any person can view the blocks but they can’t modify them. You’ll need permission from the particular users to modify the blocks present in such a network. Blockchain and Multichain are two prominent examples of the private blockchain.  Consortium Blockchain In a consortium blockchain, only a group of people or organizations can add and verify transaction blocks. The ledger in such a network is open to only a specific group. It is highly secure and is used by organizations in only particular sectors. Examples of consortium blockchain are R3, Hyperledger 1.0, and Ripple.  Hybrid Blockchain A fusion of public and private blockchains that allows for flexibility in data sharing. It permits select transactions to be public while maintaining the confidentiality of others. Hybrid blockchains are well-suited for applications necessitating both transparency and data privacy. What are Blockchain Philosophies? There are philosophies in the blockchain: Permissioned Blockchain Permissionless Blockchain Following are the differences between these two philosophies: Permissioned Blockchain In a permissioned blockchain, you have an access control layer to allow only a particular group of people to perform some actions. Such configuration keeps the transactional activities of the network’s users in check. Permissioned blockchains are popular among large companies and enterprises due to their high level of security.  For example, an IT-services provider might implement a permissioned blockchain network to record the sensitive information of its clients. Even though some third-parties might be involved in the transaction processes of such information, they shouldn’t have access to the sensitive information present in those transactions. A permissioned blockchain would ensure that the third-parties can’t access such information.  Permissionless Blockchain As the name suggests, a permissionless blockchain is the opposite of a permissioned blockchain. Unlike permissioned blockchains where only a few people have access to the blockchain, anyone can access the blockchain in a permissionless blockchain. Bitcoin and Ethereum are two notable examples of permissionless blockchains. Here, Proof of Work mining (PoW) is necessary and the hashing power determines the trust-level. What is Proof of Work? That’s what we’ll discuss in the next section. Comparison of Blockchain and Databases Blockchain: Blockchain is a distributed ledger technology that uses blocks to store information. It is built on a decentralised network in which all users validate and verify transactions. Each block contains hashed data from the previous block, ensuring cryptographic security. Blockchain offers advantages such as time reduction, unchangeable transactions, reliability, security, and decentralization. Databases: Databases are centralized systems managed by administrators. They store and manage data with defined access rights. Databases are efficient, easily maintainable, and support data sharing among authorized users. They provide features like redundancy control, data backup and recovery, and multiple user interfaces. Blockchain vs. Database: Decentralization: Blockchain is decentralized, while databases are centralized. Permission: Blockchain is permissionless, while databases require permission for access. Speed: Blockchain is slower, while databases are faster. Record History: Blockchain maintains a history of records and ownership, whereas databases do not. Confidentiality: Blockchain offers full confidentiality, while databases may not be fully confidential. Operations: Blockchain supports only insert operations, while databases support create, read, update, and delete operations. Robustness: Blockchain is considered fully robust, while databases may not be entirely robust. Disintermediation: Blockchain allows disintermediation, while databases do not. Writing Access: Anyone with proof of work can write on the blockchain, while databases restrict access to authorized entities. Recursion: Blockchain is not recursive, while databases allow repeating tasks on specific records. The choice between blockchain and databases is determined by the application’s particular requirements and the intended system features. If you want to learn more about blockchain, you may look at a thorough blockchain development tutorial to obtain a better knowledge of its ideas and implementation. Why is Blockchain so Secure? (PoW and Distributed P2P Network)  We already know that blockchain is a chain of blocks that contain transactional information. We also know that every block has a hash as its unique signature. However, hashes aren’t sufficient to keep the blockchain network secure.  Advanced computers can calculate hundreds of thousands of hashes within seconds and a hacker can modify a block without permission. Then, he or she can repeat the process to manipulate the rest of the blockchain.  However, blockchain has two solutions for tackling this problem and they are:  Proof of Work (PoW) Distributed P2P Network  Proof of Work Proof of Work is a computational problem that requires significant effort to solve. However, it takes very little time to verify the results of this problem in comparison to the time taken to solve it.  Thus, if a hacker wants to manipulate a blockchain, they will have to perform Proof of Work for one block, implement the modification and then redo the entire process for the succeeding blocks. Combined with hashing, Proof of Work makes blockchain a highly secure solution.  Distributed P2P Network  Every blockchain has a distributed peer-to-peer network. It doesn’t have a central authority to manage the chain, instead, it relies on the peer-to-peer network for this task.  When a user joins the blockchain network, they get a full copy of the blockchain and every computer in the network is called a node. When a new user creates a new block in the blockchain, it gets sent to all the users present on the network.  Now, every node (computer) must verify the block after which it can be added to the blockchain. All the nodes present in blockchain create a consensus about which blocs are valid and which aren’t. If a tampered block exists in the blockchain, then the nodes will reject the same. With the distributed P2P network, the hacker must now take control of more than 50% of the network after gaining access to a block and redoing the Proof of Work for every block to manipulate anything. Due to this, the blockchain becomes significantly secure.  How Do Blockchain Transactions Work? We have discussed that a blockchain stores transactional information, but how does a transaction take place in one? Here is how: A user would request a transaction related to the specific blockchain (cryptocurrency, records, contracts, etc.).  The requested transaction is sent to every node in the peer-to-peer network.  The nodes validate the transaction and the user’s status by using the required algorithms.  When the transaction is completed, a new block is added to the blockchain such that it is unalterable and permanent.  In conclusion, the steps of a blockchain transaction are: Request Broadcast Validation Addition This process is the same for any kind of blockchain no matter what application it’s used for. Whether you use the blockchain for a cryptocurrency or for keeping records, you’ll have to go through this exact process to add a new block into the blockchain. Learn more about how blockchain technology works. Why Do We use Blockchain? There are many advantages to using blockchain. Here are the most significant ones: Security With so many security provisions in place, blockchain is among the most secure technologies available to us. Tampering with it is nearly impossible.  Flexibility From healthcare to transport, you can use blockchain in any industry. All you need is a working knowledge of blockchain and the industry you want to implement it in.  Automation Most of the operations in a blockchain are done by software implementations. Such automation makes blockchain networks highly efficient.  Transparency Every change made in the blockchain is visible to all the users that have access to the same. This keeps things transparent and enhances the versatility of this technology.  Global Adaptation Organizations all across the globe are implementing or trying to implement blockchain in one way or another. It is a globally recognized and adopted technology and it’s gaining popularity.  Reliability Every interested party in a blockchain transaction is certified and verified. This removes the need for double records and makes the transaction process much more reliable.  Going Beyond the Blockchain Tutorial for Beginners Our blockchain tutorial for beginners covers the fundamentals of this topic. As you must have guessed by now, blockchain is a vast field with a lot of sub-sections and technicalities. Learning about all of them by yourself can be tricky.  The best way to learn blockchain is to get a blockchain course. With a course, you’ll be able to study from industry experts and learn in a step-by-step manner through the curriculum.  At upGrad, we offer the following two courses in blockchain technology: Executive PG Programme in Software Development- Specialisation in Blockchain Advanced certificate program in blockchain technology We offer both of these courses in partnership with IIIT-B. They are online and cover the basic and advanced concepts of blockchain.  You can join any one of these courses depending on your career goals and requirements. They equip you with the necessary skills so you can enter the industry as a blockchain professional.  Conclusion Congratulations! You are now familiar with the basics of blockchain and have completed our blockchain tutorial for beginners.  Blockchain is certainly one of the most versatile and useful technologies currently available and now is the best time to enter this sector. We recommend checking out the blockchain courses if you’re interested in becoming a blockchain professional. Did you find this blockchain tutorial useful? Let us know by dropping a comment below.