What Is a Blockchain?
A blockchain is a database that stores information in a distribution fashion, you have seen account registers, attendance sheets, etc. It is just like that but digital and reliable. The thing is whichever data gone into this database has never been deleted, modified or replaced. That makes it so powerful.
How it’s the sores data?
Data in blockchain stores differently if we compare it to any other databases. As the keyword “Blockchain” suggest Blocks with chains, mean data is stored as a block and every block is connected to each other.
What are Blocks?
Blocks are the element in which our data is stored in an encrypted format with a cryptographic algorithm, Blocks have two parts one is our data and the other is linked to its previous block. Every block contains the hash address of the previous block, this is how they connect.
How to create Blockchain?
Choose a consensus mechanism.
A blockchain has a protocol called a consensus mechanism.
The most commonly used consensus mechanisms are proof of work (PoW) and proof of stake (PoS).
Design your blockchain architecture.
How architecture looks like eg: private or public, variety of rules and regulations you will define.
Hire an auditor for blockchain to see your development and work.
Which language do you need to learn?
Solidity is the language most people learn fast as it created the second-largest blockchain Ethereum 🔹.
Solidity is not so difficult if you already know python, java, etc. Yes, it can become a bit strange if you just started in IT.
Solidity is run on Ethereum Blockchain and on every run it consumes transaction fees called gas fees as it is using the blockchain’s hardware(Minors).
Things you need to be aware of before coding
Wallet: This is required to make secure transactions and to maintain records. E.g: MetaMask.
Test networks: The test network is a free network that is used for development and every developer uses it to debug.
Be aware of the network you choose main-net is real Ethereum where real money exists you don’t wanna lose money for debugging right.
ChainLinks: It is the platform we connected to other components or third-party SW to get our data in blockchains. To know here.
How much did Blockchain developer earn?
Blockchain Developer salary in India ranges from ₹ 2.3 Lakhs to ₹ 21.4 Lakhs with an average annual salary of ₹ 6.6 Lakhs.
Did you know DevOps + Blockchain can get an upper hand in the competition in this huge market?
Learn about DevOps here