Blockchain is a technological framework that enables the existence of cryptocurrencies like Bitcoin.
An unknown programmer named Satoshi Nakamoto invented it in 2008. However, they have since disappeared.
The technology has since evolved into one of the most promising and disruptive technologies ever seen. Many businesses and industries investing heavily in its development and implementation.
Blockchain is also applicable to things other than just digital currencies. For example, it can be a platform for securely sharing data between different parties via cryptography (encryption) without relying on any central authority or third party.
What is Blockchain?
Blockchain technology allows two parties to record transactions in a verifiable permanent manner. It is a distributed ledger system that ensures efficiency and accuracy. A blockchain consists of blocks holding batches of valid transactions (or other data) chained together through cryptographic links.
Each block contains a timestamp and information about the previous block; this structure makes it impossible to modify past entries retroactively without invalidating all subsequent work. The result is an immutable chain of events that can be verified by any participant in the system, allowing them to know they have an accurate copy of history as it occurred.
As new blocks become part of this chain, they become part of the permanent database known as the blockchain. Each successive block contains information about all prior blocks linked sequentially, forming an immutable historical record.
This feature enables individuals from different locations and backgrounds who need to become more familiar with each other or have confidence in each other to come to a consensus on the occurrence of events, as all parties can observe the happenings in real-time.
What are the benefits of learning blockchain?
With blockchain technology, two parties can securely transfer value without the involvement of a third party. It’s an immutable, transparent, and decentralized ledger that records all transactions across its network.
Blockchain is applicable in many industries, especially finance, healthcare, retail, supply chain management, and real estate. The technology can potentially revolutionize business models across sectors by reducing costs while increasing efficiency and security.
Do you need a degree to learn blockchain?
You do not need a degree to learn blockchain. Plenty of online courses can teach you the basics of blockchain technology. The method of learning provided by Vertical Institute in their class will start with basic concepts and then move into more complex subjects.
It is designed for complete beginners to turn them into trained blockchain professionals after the end of this course by industry veterans in this sector.
Should I learn blockchain as a beginner?
If you’re wondering whether or not to learn about blockchain technology, the answer is a resounding yes. Blockchain is a new technology that can change how we do business. Due to this, the knowledge about it is limited to a few individuals, and even fewer people know how to use it well. If you are interested in this, then read on!
The blockchain world can initially seem overwhelming, but once you learn about it and understand how it works, everything starts making sense. The best thing about learning blockchain now is the early mover advantage in a sector that has just begun gaining traction.
If you are a blockchain expert, you can earn a lot of money by sharing your knowledge with others. There is a huge demand for experts and consultants who know how to use blockchain technology in business settings.
How many months does it take to learn blockchain?
It depends on your learning style, current knowledge of the subject, how fast you learn, and how much time you dedicate to learning.
For example, if your learning style is more visual and hands-on, taking a course would be a good start as it will give you an overview of blockchain. If you prefer reading books or articles instead and have prior knowledge about the topic, reading up on it might be enough for now.
Once you’ve decided on the best way to learn, set a realistic goal for yourself and follow through with it. Set an end date for your learning process and ensure it is close enough that you can finish in time.
What coding language is used in blockchain?
As you may know, blockchain is a technology that uses cryptography. This means that the code in the blockchain is often written in one of several coding languages: Python and Solidity.
Suppose you are new to programming or yet to have gained experience with these languages (or even if you do). In that case, it’s worth taking time out of your studies to learn some basic concepts before learning about blockchain development.
Use of blockchain in various industries and sectors
Blockchain technology will disrupt many industries. For instance, the healthcare industry has used blockchain to improve data security and ensure patient privacy.
The financial services industry is another area with significant use of blockchain technology. Many banks and financial institutions want to incorporate this technology into their systems to offer better services at lower costs.
One example is HSBC’s investment arm, which acquired its first property in The Sandbox, an Ethereum-based gaming platform. HSBC sees great potential in these technologies to revolutionize traditional banking. They could provide new ways for customers to manage their finances and create unique experiences between them and HSBC.
Learn to leverage blockchain to gain a competitive edge
While blockchain technology is still in its initial phase, it has the potential to revolutionize the world. Blockchain is a digital ledger in which cryptocurrency or other value exchange transactions are recorded publicly and chronologically.
It’s the underlying technology behind cryptocurrencies like Bitcoin and Ethereum but has many other applications.
If you want to get ahead of your competition or gain competitive edge in this emerging field, this course will provide you with all the needed knowledge.
We hope the guide has been of use to you. If you want to learn blockchain in Singapore, there are many places and ways to do so. You can choose from online courses or onsite classes offered by various institutes.
About Vertical Institute
Vertical Institute prepares individuals for the jobs of tomorrow. We specialize in teaching in-demand skills, and building the next generation of changemakers and inventors through our world-class tech courses and certifications. Singaporeans and PRs can receive up to 70% of IBF Funding off their course fees with Vertical Institute. The remaining fees can be claimable with SkillsFuture Credits or NTUC UTAP Funding.