The Blockchain Hype: Why this Disruptive Technologyis Exploding Today

June 26, 2019 RAWAT 0 Comments


Haven’t you heard, the globe is undergoing a surging demand for blockchain and crypto jobs? The blockchain industry continues to see a revolution of this technology all over the world. And now we see the phenomenon changing in the blockchain market since its advent a decade back. Vocations ranging from web development to business development, from allocating financial resources to creative roles such as UX continues to see an upsurge as the industry now looks forward getting to the next phase of development.


Previously, the blockchain space was driven mostly by startups, however, today larger companies have emerged in the ballgame. FedEX, IBM, Walmart, Microsoft, Mastercard, Bank of America, and Huawei Technologies are few of the companies said to have already adopted blockchain technology.

But what constitutes the blockchain market?

Currently, this new age technology is probably one of the industry’s favorite topic today. Everybody keeps talking about how this technology disrupts several industries and how it is conquering the job market. It isn’t a surprise for those who even haven’t heard the word are now taking about it. To be precise, this disruptive technology is in a pursuit to transform every industry, and if you’re not in the circle – you better loop in yourself.

In simple terms, blockchain is a manner of storing data that cannot be tampered and knowing who owns what.

When a transaction takes place, a network that consists of a number of a digital and accessible database helps in keeping track of the transactions. As another individual does a transaction within the network, the number of computer network combines their power and using cryptography this data is being validated.

Once the transaction is over, it is then stored in a digital ledger permanently. And for ensuring that the blockchain is secured, the ledger with the data is distributed across the network to avoid hacking or tampering.

Earlier, Bitcoin and cryptocurrency enthusiasts were the only ones who were interested in learning this new age technology. Well, we cannot blame them either. Back then the technology was adopted by enthusiast who were tech utopian. Today, it is totally a different game altogether. Due to its versatile nature, the blockchain technology is now widely accepted at different application areas across the industry. Not just the finance and banking sector is extensively making use of blockchain, but even sectors such as the real estate, the government, legal industry, and even the e-commerce industry have started adopting to blockchain technology.

Now is the best time to invest in Blockchain

Ever since the emergence of Bitcoin in 2008, the underlying technology has grown exponentially. Statistics from Statista predicts that the global blockchain revenue will rise towards a growth rate of over $23.3 billion by 2023. Given the widespread of its technology potential in the business interest, this disruptive technology has actually become an industry under its own rights.

Hopping on to a career role that is in-demand today will most likely give you an edge in the current job market. The rise of this technology has proved itself as a game changer, no wonder there has been an explosion in the blockchain apps that is said to have poised the status quo.

Blockchain skills that will facilitate your Blockchain career

 Programming skills

Like any programming job role, individuals require to have basic understanding and working knowledge with web stack like HTML, CSS, Angular, Node.js. Programming languages such as Solidity and Serpent are required if you’re looking to build smart contracts.

 Solid understanding of Cryptography

One needs to have solid knowledge and understanding about how cryptography works since both blockchain and cryptography go hand in hand.

 Data Structures

In-depth knowledge of data structures is important. Being a blockchain developer, onemust work around existing data structures such as petrecia trees and merkle trees.

 Development of Smart Contracts

Since the release of Ethereum, smart contracts have been a huge thing in blockchain technology. For this you need to have extensive knowledge in languages such as Solidity, Viper, and Chaincode.

Blockchain Architect

You must have heard about hash functions, consensus and distributed ledger technology, well such concepts must be at the tip of your fingers. Knowing your way around blockchain the way it functions and its architecture is an added benefit.

Jobs in blockchain and Bitcoin is booming in the industry today, besides job opportunities employers are also willing to pay talents in blockchain a good amount of salary compensation. Glassdoor study showed that the demand increased around 300% in 2017. And despite having doubts in the crypto market blockchain still predicts having a great future ahead. An added advantage, professionals with blockchain skills are deemed as hot commodity in the tech market today.

One of the major factor why techies are getting paid with higher salary packages is due to the fact that the demand for such professionals are in constant growth in cities such as New York and San Francisco – best cities to land an IT career. Apart from these cities San Jose, Seattle, Boston, LA, and great cities for one to start off their career in blockchain technology.

As a result, the need for blockchain certification can never get better than now, especially for employers looking to hire techies with such exquisite skillset. In addition to this, blockchain employers are in search for developers and professionals with additional skills such as IoT, Java, C++, Golang, and those with extensive knowledge in cryptographic algorithms. There are universities and programs that are teaching Solidity, but like we all know there’s more than just Solidity. A solid understanding of how the current industry works is crucial and gaining a certification leverages the candidate’s chances of learning the latest technologies that most industries are looking to hire for.

Getting involved in this disruptive technology will eradicate the long-term gains, are you all set for the revolution?

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