Wednesday, April 10, 2024

Is Cryptocurrency an example of Blockchain?

A blockchain is a decentralized ledger technology for all types of transactions across a peer-to-peer network. With the help of this technology, users can confirm transactions without a central clearing authority. 

Cryptocurrency is a value added to the virtual asset, which is programmed based on blockchain technology. In that context, you can tell that cryptocurrency is an example of blockchain; with the increased transparency, accurate tracking, permanent ledger, and cost reduction benefits, blockchain has become an unavoidable part of the modern digital era. 

There are many online Bootcamp available where millions of students enroll to learn about blockchain technology. Such an exceptional and effective online Bootcamp for Blockchain course provided by Simplilearn. 

How does cryptocurrency work?

A blockchain is a formation of digital information, or blocks, stored across a network of computers, creating a database. Any changes in the virtual assets’ ownership are registered in the blockchain. The ledger is transparent and open to all; you can track and see who the owner is and also see the change in ownership of any virtual assistant. 

Cryptocurrency works on this platform; many types of crypto are available now. And all the crypto maintains a blockchain ledger that provides consumers with the necessary information. People use crypto in many ways, but they need a platform for the transaction. Blockchain provides a decentralized platform where you can make a direct transaction without central authorities.

Blockchain not only provides seamless transactions but keeps the necessary information about ownership. Cryptocurrency mostly depends on the ownership log. One type of ownership-based crypto is NFT, where virtual assets are more dependent on the owner. The value also differs by the artwork and the art5ist. Ownership details are essential; no one can claim the work is theirs. 

So you can say that blockchain and cryptocurrencies work together. And despite various opinions, both technologies are required to sustain the digital economy.  

Career Opportunities in Blockchain Technology in India

As the emerging web 3.0 is powered by blockchain technology for all decentralized types of transactions. More than five billion people are connected worldwide via the internet. In India, 840 million people use the internet, which is 60% of the total population, according to a report. And making the connection more seamless and breaking all the limitations and bridges many IT sectors hiring people with this exclusive knowledge. 

Two-thirds of the world’s population is connected, and the number is increasing to 4%. Data-based jobs prioritize building this new virtual structure to accumulate these massive numbers. There are many vacancies in the below-written fields where blockchain technology is essential. 

  • Software Engineer

Software engineers are professionals in computer technology. Blockchain engineers are especially employed in areas like smart contracts and banking. They need a computer science background, software design, or similar technical education in science. To be in one of the highest-paid blockchain jobs in India, you need to have some essential skills. Such as solidity, cloud technologies, and database management. 

The salary of an average engineer in India is Rs. 6,07,338 per year. Which may vary depending on the employer. Also, many different added facilities vary from company to company. 

  • Blockchain Project Manager 

A blockchain project manager is responsible for executing blockchain projects successfully in any organization. They are hired to convert the company’s needs into technical knowledge. They need to plan, supervise and implement projects to realize specific goals. 

When a firm thinks about introducing blockchain, the in-house project manager is responsible for facilitating the adaptation of the existing technology platforms to cater to the required changes. 

  • Blockchain Developer

Ample opportunities are waiting for you if you are thinking of pursuing a career in blockchain development. These include financial services, government departments, and tech companies, all seeking talented developers to offer better services. 

Blockchain developers can facilitate safe digital transactions by developing systems to record and save blockchain data, which prevents data hacks or modifications. Also, they develop secure blockchain technologies, application features, and interfaces. Additionally, they maintain client-side and server-side applications.

  • Blockchain Quality Engineer

Blockchain quality engineers confirm the quality of blockchain development and maintain adequate web, mobile, and platform engineering support. The range of work covers all areas of automation frameworks, manual testing, and dashboards. 

You need a broad understanding of the blockchain platform for the job. Also, you need skills like critical thinking and reasoning to excel in this career.

The salary of the blockchain quality engineer differs from company to company. But generally, you can earn from Rs. 5 LPA to Rs. 30 LPA., which can increase up to Rs. 45 LPA with experience. For top seniority positions in the BFSI sector, individuals with demonstrated skills in security operations have salaries of Rs. 4 crores per year.   

  • Product Manager

If you are a product manager specializing in blockchain technologies, you are probably employed in development, coding, and distribution roles. 

You need a programming background, but basic coding languages and software knowledge would be helpful. The average salary of a software product manager in India is Rs. 1,760,593 per year

Eligibility and availability of Blockchain Courses

There are many educational programs offered by recognized educational institutes available online. 

  • PG Certification in the Blockchain

Students who want to learn blockchain from scratch can take this certification course. This course will help them to become a blockchain developer. 

  • PG Diploma in Software Development (Blockchain Specialisation)

This is a comprehensive 11-month program that helps to specialize in developing chain codes and smart contracts.  

  • Executive Program for Blockchain Technology Management

You can do this course to become a blockchain technology leader through knowledge and skill development. 

Wrapping Up

Cryptocurrency and blockchain are different technologies that work together to provide a seamless economy. There are many online boot camps available to learn about cryptocurrency and blockchain.

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