Blog_Banner_Asset
    Homebreadcumb forward arrow iconBlogbreadcumb forward arrow iconBlockchain Technologybreadcumb forward arrow iconTop 8 Reasons Why You Should Master Blockchain Development

Top 8 Reasons Why You Should Master Blockchain Development

Last updated:
1st Nov, 2019
Views
Read Time
7 Mins
share image icon
In this article
Chevron in toc
View All
Top 8 Reasons Why You Should Master Blockchain Development

Ever since people heard how much Bitcoin has risen in value since its arrival, the interest in blockchain technology has gone up. But not many people realize that it’s just the tip of the iceberg.

Blockchain is one of the most significant technological innovations, and it has grown amazingly in the past few years.

Organizations all around the globe are exploring ways they can use this powerful technology for their benefit. Whether it’s to improve productivity or improve transparency, blockchain has many revolutionizing applications.

Check out our free courses to get an edge over the competition 

Ads of upGrad blog

Learn Online Software Programs from the World’s top Universities. Earn Executive PG Programs, Advanced Certificate Programs or Masters Programs to fast-track your career.

Reasons You Should Learn Blockchain Development

The Technology of the Future

Some innovations have the power of changing entire industries, blockchain is one of them. We aren’t the only ones saying that.

Finance experts are also of the opinion that blockchain is a disruptive technology. Just like the internet changed how we live today, blockchain can change how we do business.

Check out upGrad’s Java Bootcamp

Some of its products have already produced drastic results. Bitcoin is an excellent example of that. It is a decentralized currency that is not controlled by any authority. Blockchain can provide many other solutions similar to Bitcoin in different industries.

High Demand and Low Supply

Companies realize how beneficial blockchain is. So, many of them are working on different ways they can use blockchain to their advantage.

But for that, they need skilled professionals. And there aren’t many people who have blockchain skills. In fact, out of 2 million software developers in India, only some 5,000 techies know these skills.

You can learn blockchain technology and take advantage of this situation. NBFCs, FinTech companies, and Public Sector Banks need skilled blockchain developers the most.

Check out upGrad’s Full Stack Development Bootcamp (JS/MERN) 

Between the years of 2017 and 2018, the demand for blockchain developers rose 75%. In blockchain future scope is bright.

Make Better Investments in Crypto

Bitcoin took everyone by the storm when it rose in the market. Since 2018, Bitcoin’s prices have risen by 200%. Although the market is considered speculative, such results show just how high returns it can offer.

Other cryptocurrencies are performing similarly, as well. You can invest in these currencies and earn lucrative returns from their performance.

But before you start investing, you should be able to analyze the market correctly. And for that, you should learn blockchain technology. When you have the required knowledge, you would be able to make better-informed decisions.

You will also be able to invest in ICOs and trade these currencies.

Enhanced Data Security

Currently, if you enter your sensitive information in a checkout form or anything of that sort, it first goes to the merchant. And then, the merchant either stores it using some 3rd party storage or maybe sells it to someone else.

Data privacy is a significant concern for the modern generation. Blockchain can solve problems in this area too.

Through blockchain, you can store your sensitive in independent storage that can be accessed only by you. Moreover, you can choose who gets access to this data (and who doesn’t).

Blockchain can help in giving control to the consumers instead of the service providers or giant corporations.

Explore Our Software Development Free Courses

Chain Disruption in Different Sectors

Thanks to its peer-to-peer network, blockchain is disrupting the conventional chains in my sectors. Its network also has a secured ledger, which keeps the record of every transaction made.

It paves the way for a decentralized system. Currently, any system requires a central authority that oversees every transaction taking place among the system’s peers.

A decentralized system doesn’t have a central authority, and the two parties can make transactions independently without compromising their security or efficiency. Large sectors such as Banking and IT can benefit a lot from such systems.


upGrad’s Exclusive Software Development Webinar for you –

SAAS Business – What is So Different?

 

Application in Multiple Industries

Apart from banking, many industries can use blockchain to improve their operations. For example, Maersk is a company that uses blockchain to track its containers globally. They can access this information anytime and without any problems.

Supermarkets are also planning to use blockchain for tracking their inventory. Voting, energy, healthcare are a few other sectors that can benefit significantly from this technology.

The entertainment industry can also benefit from the blockchain technology in preventing piracy and optimizing content distribution for the audience.

Many companies are exploring ways to use blockchain in such sectors. So if someone had the best blockchain certification, he or she would have a lot of opportunities.

Explore our Popular Software Engineering Courses

More Transparency

As we mentioned earlier, blockchain provides its users with a decentralized peer-to-peer network. People using such platforms won’t have to worry about their data being leaked to a 3rd party.

It will help in enhancing transparency in many sectors for consumers as well as for businesses. Every transaction made on a blockchain platform is recorded in a cryptographic ledger. One can access the ledger to find information about every purchase that took place on the platform.

Such a system can reduce corruption and corrupt practices in the governing bodies. Moreover, many countries, including Germany and Australia, are already working on making blockchain a part of their government departments.

Dubai has already made blockchain a part of their government systems. Other countries will start working in this direction as well.

Vast Infrastructure

Blockchain and DLT (Distributed Ledger Technology) form a universal infrastructure that can be integrated into the current systems easily. Any business can access the infrastructure and use it for its operations.

Its single infrastructure is entirely connected with the other market, boosting creativity. This way, integrating the blockchain’s infrastructure into your current processes won’t be a hassle.

Moreover, blockchain can be integrated with other advanced technologies as well to get better results, which further enhances its ability to disrupt different sectors through its universal infrastructure.

In-Demand Software Development Skills

Become a Part of a Revolution
Ads of upGrad blog

There was the Industrial Revolution, then the dot com boom, and now it’s blockchain. Blockchain, along with many other advanced technologies such as AI and IoT, is bringing a new revolution in the tech world.

Read our Popular Articles related to Software Development

Conclusion

And you wouldn’t want to miss out on this opportunity. If you are interested to create blockchain applications from scratch, check out upGrad & IIIT-B’s Executive Certification in Blockchain from IIITB.

Profile

upGrad

Blog Author
We are an online education platform providing industry-relevant programs for professionals, designed and delivered in collaboration with world-class faculty and businesses. Merging the latest technology, pedagogy and services, we deliver an immersive learning experience for the digital world – anytime, anywhere.
Get Free Consultation

Select Coursecaret down icon
Selectcaret down icon
By clicking 'Submit' you Agree to  
UpGrad's Terms & Conditions

Our Popular Blockchain Course

Frequently Asked Questions (FAQs)

1What is DLT (Distributed Ledger Technology)?

Distributed Ledger Technology refers to a digital system used to record the transaction of assets where the details of transactions are recorded in multiple places simultaneously. DLT allows access, sharing, and updating of records in the electronic ledgers of the respective nodes. In simple words, it is a protocol that enables the functioning of a decentralized digital database securely. DLT ensures security by using cryptographic signatures and keys to allow access to authorized users. The peer-to-peer sharing and updating of records in the distributed ledger make any process faster, cheaper, and more effective. The Blockchain is one type of distributed ledger.

2What are smart contracts?

Smart contracts are self-executing programs stored on a blockchain that run when some predetermined conditions are met. They eliminate the need for intermediaries as it automates the execution of an agreement so that all participants can be immediately sure of the outcome. Using smart contracts makes transactions traceable, immutable, and transparent. Smart contracts are an efficient way of executing any agreement because no paperwork is required in their execution. They are digital and automated and hence have a minuscule chance of error. They work by following the simple “if/when..then…” statements written into code on the blockchain.

3What are Blockchain platforms?

The popularity of blockchain technology has already spread quite a lot. People don’t identify the blockchain technology with just the cryptocurrency anymore. More and more companies are adopting blockchain to help with their business operations, giving rise to many blockchain platforms. It allows the development of blockchain-based applications. Companies or businesses select the Blockchain platform most suitable for them based on several things such as the development status of the platform, type of blockchain required, language supported by the platform, scalability needs, etc. Some of the top blockchain platforms are IBM Blockchain, Hyperledger Sawtooth, Ethereum, Hyperledger Fabric, R3 Conda Quorum, EOS, Stellar, etc.

Explore Free Courses

Suggested Blogs

Top 12 Highest Paying Blockchain Jobs in India [A Complete Report]
900646
Blockchain is an emerging job skill in the IT industry. Technological advancements are gradually bringing this distributed ledger technology to the ma
Read More

by Mayank Sahu

19 Feb 2024

Skills Needed to Become a Blockchain Developer
54075
Blockchain development is one of the fastest-growing sectors. Companies are looking for blockchain developers to make new implementations, advance the
Read More

by Mayank Sahu

Prerequisites to Learn Blockchain Technology: It’s Not What You Think It Is
54309
There has been a massive development in the field of Blockchain technology in the last decade. Many people and companies came to know about Blockchain
Read More

by Mayank Sahu

16 Feb 2024

Blockchain Developer Salary in India 2024 [For Freshers & Experienced]
902614
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 decentralize
Read More

by upGrad

11 Feb 2024

Top 10 Interesting Blockchain Project Ideas for Beginners/Students [2024]
177074
Summary: In this Article, you will learn top 10 interesting blockchain project Ideas for beginners. Trusted Crowdfunding Platform Using a Smart Cont
Read More

by upGrad

14 Jan 2024

Blockchain Applications in Supply Chain
5644
The distributed-nature technology of Blockchain has disrupted many industries, with its uses and blockchain applications in supply chain leading to in
Read More

by Radhika Maloo

28 Aug 2023

Applications of Blockchain in Healthcare Industry
6588
After taking the finance and business sector by storm, Blockchain applications in healthcare are now all set to radicalize the healthcare industry. Ev
Read More

by Shubham Chakraborty

23 Aug 2023

What is Ripple Blockchain? Everything You Need to Know in 2024
7195
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 indus
Read More

by Mayank Sahu

21 Aug 2023

How Blockchain in Transforming Manufacturing Industry [2024]
6174
How Today’s Large Scale Industries Leverage Blockchain to Scale Their Manufacturing Process As a foundation for distributed ledgers, blockchain is an
Read More

by Mayank Sahu

26 Jun 2023

Schedule 1:1 free counsellingTalk to Career Expert
icon
footer sticky close icon