Blockchain Development: To Learn Or To Delegate?


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If you want to become a blockchain developer, then the main thing is to understand how the technology works. Most of the limitations in blockchain design are related to the peculiarities of the technology, which does not allow the use of some design patterns. Due to this, the first difficulties can arise already during the immersion stage.

After you have an understanding of the technology itself, the problems with learning one of the programming languages for writing smart contracts can arise. Later in the article, you will understand more if you want to deal with all the issues of blockchain development, though you need to know that delegating this task to one of the best software development companies can be a nice solution.

What You Need to Know for Development

If to speak theoretically, the main attractiveness of e-finance is that you can create your own currency, put it on the stock exchange and start making money. But in fact, you need to do the following:

  1. Study of encryption algorithms. For encryption, you need to understand how to create cryptographic algorithms. Start with the basic ones – SHA256 and Scrypt. In the process, you will have to go further and learn X11, X13, X15, Nist5, NeoScrypt, Keccak, Quark and Qubit.
  2. Study of Bitcoin. This is the most stable currency on the exchange, it is necessary to take it for own idea development.
  3. Find the team. Even mining is hard to do alone, so in order to develop your currency, you need at least 5-6 people with knowledge of C ++ and Python.
  4. Engage in the promotion of the cryptocurrency. It is needed as without daily improvement, without obvious advantages over competitors, all efforts will be lost outside the top 1000 rating.

What the Professionals Know

The following list is just a part of the knowledge base on blockchain for developers.

  • The basic technologies:
    • Cryptography: Symmetric and asymmetric cryptosystems; Hashing, TTH (Merkle tree); Public and private key; Electronic Signature Scheme; Certification system.
    • Distributed databases: DAG – directed acyclic graph; DHT – distributed hash table; IPFS – Distributed File System.
  • Building a blockchain:
    • The concept and types of detachment: The concept of data inside the blockchain; Public and private blockchain; Finding and examining the examples of projects on the blockchain.
    • Overview of platforms for blockchain: Fork Bitcoin; Fork Ethereum; Hyperledger; IBM Blockchain Platform; Waves.
  • Types of applications for the blockchain:
    • Purses: Hot, cold, light; Centralized, decentralized; BitcoinWallet, Electrum, Mist, MyEtherWalet, Waves.
    • Exchanges: Centralized (bittrex, yobit); Decentralized (Waves).

Whichever way you choose, don’t think of material gain as your main goal or objective. Cryptocurrency is a very unstable monetary unit, which today can bring you income, and tomorrow there is still the risk of its disappearing. Only those who are interested in the topic of encryption and transactions, who are ready to dedicate an entire career to this sphere, will be in demand and rich.

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