Blogs

902727

Blockchain is an emerging job skill in the IT industry. Technological advancements are gradually bringing this distributed ledger technology to the mainstream. Things like the decentralized web, popularly called Web 3.0, are coming up to make people-powered internet a reality.  Blockchain platforms have the potential to support trusted private transactions with data confidentiality. According to Gartner, these platforms would be scalable, interoperable by 2023, enabling smart contracts and cross-chain functionality across industries. Blockchain-based jobs are obtaining great fame in the digital world. There are ample blockchain jobs in India that offer decent salaries to skilled blockchain developers. Since blockchain expertise is becoming one of the robust skills, many people are searching for suitable blockchain developer courses to effectively learn blockchain online. Check out our free courses to get an edge over the competition. Explore Our Software Development Free Courses Fundamentals of Cloud Computing JavaScript Basics from the scratch Data Structures and Algorithms Blockchain Technology React for Beginners Core Java Basics Java Node.js for Beginners Advanced JavaScript Check out our free blockchain online courses If you are aspiring for one of the best blockchain jobs in India, the salary package is not the only factor. Career growth, job security, and reputation make a career attractive. Read on to know about the highest paying jobs in blockchain technology. If you want to know about the highest paying blockchain jobs, this article may help you. We listed the top 20 highest paying blockchain jobs in India. This list is updated and irrespective of your work level, beginner/entry-level or middle level, these will help you decide the direction you want to go in next. Check out upGrad’s Advanced Certification in Blockchain Learn Online Software Programs from the World’s top Universities. Earn Executive PG Programs, Advanced Certificate Programs or Masters Programs to fast-track your career. Laying the foundation Before we delve into the different types of occupations, let us first describe blockchain technology. The pointers below break down the concept in simple terms.  It is a series of immutable records, which are time-stamped and shareable. The data is not owned by a single entity but managed by a cluster of computers.  Each data block is bound to other blocks with cryptographic principles, i.e., chains. The ledger is open, and everyone is accountable for their actions. Although an infrastructure cost may be involved, there is no transaction cost. Therefore, a blockchain network is a decentralized, secure, and democratic system. It allows you to create accounts, transact, transfer, check balances, pass information, etc.  Career Opportunities Job Role Description Salary Range (INR per annum) Software Engineer Develops and maintains software applications. ₹ 2.8 Lakhs – ₹ 16 Lakhs Product Manager Oversees product development from conception to launch, ensuring it meets market needs. ₹ 5.5 Lakhs – ₹ 38 Lakhs Risk Analyst Identifies and assesses risks to minimize negative impact on projects or investments. ₹ 2.0 Lakhs – ₹ 18.5 Lakhs Tech Architect Designs and oversees the architecture of technology systems and solutions. ₹ 13.6 Lakhs – ₹ 42 Lakhs Analyst Relations Manager Manages relationships with industry analysts to ensure positive coverage of the company. ₹ 8 Lakhs – ₹ 20 Lakhs Business Analyst Analyzes business needs and processes to recommend improvements and solutions. ₹ 3 Lakhs – ₹ 17 Lakhs Crypto Community Manager Manages and engages with the community of cryptocurrency users and enthusiasts. ₹ 5 Lakhs – ₹ 12 Lakhs Front End Engineer Develops and maintains the user interface of web applications. ₹ 2.5 Lakhs – ₹ 26 Lakhs Legal Consultant Provides legal advice and services related to blockchain and cryptocurrency operations. ₹ 2 Lakhs – ₹ 18 Lakhs Blockchain Project Manager Oversees and coordinates blockchain projects from conception to completion. ₹ 10 Lakhs – ₹ 25 Lakhs Blockchain Developer Designs, implements, and maintains blockchain solutions and decentralized applications. ₹ 2 Lakhs – ₹ 20 Lakhs Blockchain Quality Engineer Ensures the quality and reliability of blockchain systems through testing and validation. ₹ 9 Lakhs – ₹ 20 Lakhs Blockchain UX/UI Designer Creates user-friendly and visually appealing interfaces for blockchain applications. ₹ 6 Lakhs – ₹ 15 Lakhs Blockchain Data Scientist Analyzes and interprets complex blockchain data to derive insights and inform decision-making. ₹ 12 Lakhs – ₹ 25 Lakhs Blockchain Integration Specialist Integrates blockchain solutions with existing systems and platforms. ₹ 10 Lakhs – ₹ 22 Lakhs Decentralized Application (DApp) Developer Develops applications that run on blockchain networks instead of centralized servers. ₹ 12 Lakhs – ₹ 30 Lakhs Cryptocurrency Analyst Researches and analyzes trends, prices, and technologies in the cryptocurrency market. ₹ 6 Lakhs – ₹ 15 Lakhs Blockchain Compliance Officer Ensures blockchain and cryptocurrency operations comply with laws and regulations. ₹ 9 Lakhs – ₹ 20 Lakhs Smart Contract Developer Creates and audits self-executing contracts with the terms of the agreement directly written into code. ₹ 10 Lakhs – ₹ 25 Lakhs Blockchain Security Specialist Protects blockchain systems and networks from cyber threats and vulnerabilities. ₹ 12 Lakhs – ₹ 30 Lakhs Check out upGrad’s Java Bootcamp Our Learners also read: Career in Blockchain! Highest Paying Blockchain Jobs in India 1. Software Engineer These professionals are programming specialists having a background in computer science, software design, or similar technical education in the sciences. Blockchain software engineers are generally employed in areas like smart contracts and banking. To enter the workforce, you would require a working knowledge of Solidity, cloud technologies, and database management. In addition to being one of the highest paying blockchain jobs in India, it is also a fast-paced one. Salary: Average Software Engineer salary in India is ₹ 8.6 Lakhs. Source Average Software Engineer salary in India based on Locations: City Salary Bangalore ₹ 8.8 Lakhs New Delhi ₹ 8.2 Lakhs. Mumbai ₹ 7.5 Lakhs Hyderabad ₹ 8.3 Lakhs Chennai ₹ 7.5 Lakhs Pune ₹ 7.8 Lakhs Noida ₹ 7.8 Lakhs Source Average Software Engineer salary in India based on Industry: Industry Salary IT Services & Consulting ₹7.7 Lakhs Financial Services ₹9.3 Lakhs Software Product ₹9.1 Lakhs Hardware & Networking ₹10.6 Lakhs BPO ₹6.2 Lakhs Internet ₹12.8 Lakhs Source Top employers hiring software engineers in India: Source 2. Product Manager As a product manager, you are employed in development, coding, and distribution roles. And your two primary duties are to lead time-sensitive projects and to manage the development budget. You need not have a programming background, but basic knowledge of coding languages and software would be helpful. The excessive & growing demand makes product managers land on one of the highest salary blockchain jobs in India Besides, coordination tasks would lie at the heart of guaranteeing product release within the schedule and budget. So, management skills are also necessary. Typically, employers prefer engineering graduates with an MBA degree who have prior exposure to the relevant industry (media and advertising, finance, digital currencies, and so on). It has always been one of the best blockchain jobs in India, and dealing with money – yours and others – is the stuff of dreams. Salary: Average product manager salary in India is ₹ 21.5 Lakhs. Source Average product manager salary in India based on Locations: City Salary Bangalore ₹23.0 Lakh Mumbai ₹19.8 Lakh Gurgaon ₹23.6 Lakh New Delhi ₹20.4 Lakh Hyderabad ₹22.4 Lakh Pune ₹20.4 Lakh Noida ₹23.0 Lakh Chennai ₹22.4 Lakh Kolkata ₹18.6 Lakh Source Average product manager salary in India based on Experience: Experience Salary 2 Year ₹15.1 Lakh 3 Year ₹17.2 Lakh 4 Year ₹18.4 Lakh 5 Year ₹19.3 Lakh 7 Year ₹20.3 Lakh 10 Year ₹23.0 Lakh 12 Year ₹24.2 Lakh Source Average product manager salary in India based on Industry: Industry Salary Internet ₹24.5 Lakh Financial Services ₹17.8 Lakh IT Services & Consulting ₹24.4 Lakh Software Product ₹26.2 Lakh Banking ₹16.5 Lakh Manufacturing ₹19.5 Lakh Retail ₹27.1 Lakh Pharma ₹12.4 Lakh Insurance ₹14.8 Lakh Telecom ₹23.6 Lakh Source Top employers hiring product managers in India: Source Explore our Popular Software Engineering Courses Master of Science in Computer Science from LJMU & IIITB Caltech CTME Cybersecurity Certificate Program Full Stack Development Bootcamp PG Program in Blockchain Executive PG Program in Full Stack Development View All our Courses Below Software Engineering Courses upGrad’s Exclusive Software and Tech Webinar for you – SAAS Business – What is So Different? document.createElement('video'); https://cdn.upgrad.com/blog/mausmi-ambastha.mp4   3. Risk Analyst One of the highest paying blockchain jobs worldwide, Risk analysts are concerned with achieving consistency with local and government laws. They usually work in the finance domain or with government enterprises. Besides assessing risks, they assist in programming, product improvement, information analytics, and project documentation. The required training differs as per the job specifications. Excel proficiency, business sense, and extensive research experience are of the desired qualifications. The demand and salary for risk analyst making it one of the highest paying blockchain jobs in India. Usually, risk analysts work in the finance domain or with government bodies. They are responsible for obtaining consistency with government and local laws. In addition to evaluating risks, they streamline tasks like product improvement, programming, project documentation, and information analytics. Their versatility is one of the key reasons behind their admirable blockchain analyst salary. Also, the demand for risk analysts makes it one of the highest-paying jobs in India, with a well-paying blockchain analyst salary. Also read, blockchain career and its future scope Salary: Average Risk Analyst salary in India is ₹ 7.6 Lakhs. Source Average Risk Analyst salary in India based on Locations: City Salary Bangalore ₹ 7.4 Lakhs Pune ₹ 8.0 Lakhs Mumbai ₹ 9.2 Lakhs Hyderabad ₹ 6.4 Lakhs New Delhi ₹ 7.7 Lakhs Kolkata ₹ 6.6 Lakhs Chennai ₹ 5.8 Lakhs Source Average Risk Analyst salary in India based on Experience: Experience Salary 1 Year ₹ 6.4 Lakhs 2 Year ₹ 7.1 Lakhs 3 Year ₹ 7.5 Lakhs 4 Year ₹ 8.2 Lakhs 5 Year ₹ 8.7 Lakhs Source Average Risk Analyst salary in India based on Industry: Industry Salary IT Services & Consulting ₹ 5.1 Lakhs Financial Services ₹ 10.2 Lakhs Internet ₹ 6.0 Lakhs Software Product ₹ 5.1 Lakhs Banking ₹ 8.5 Lakhs Source Top employers hiring risk analysts in India: Source 4. Tech Architect As one of the highest paying blockchain jobs, you should generally possess a specialized technical aptitude to introduce blockchain products. This is a precondition for participating in discussions and coordinating project efforts. You would have to utilize your communication prowess to act as an intermediary between the organization and clients.  Now, let us move on to the training aspect. A software engineering degree can help you gain the coding knowledge required for creating applications. It can also offer you an edge in relevant spheres, such as cloud and web-based services. If you want to brush up your organizational and managerial skills, you can also consider obtaining advanced certifications, such as a specialized PG Diploma or an MBA.  Salary: Average Technical Architect salary in India is ₹ 28.4 Lakhs. Source Average Technical Architect salary in India based on Locations: City Salary Bangalore ₹ 28.0 Lakhs Pune ₹ 27.8 Lakhs Mumbai ₹ 27.2 Lakhs Hyderabad ₹ 28.4 Lakhs New Delhi ₹ 28.2 Lakhs Kolkata ₹ 28.1 Lakhs Chennai ₹ 27.0 Lakhs Source Average Technical Architect salary in India based on Experience: Experience Salary 9 Year ₹ 25.5 Lakhs 10 Year ₹ 26.7 Lakhs 11 Year ₹ 27.5 Lakhs 12 Year ₹ 27.8 Lakhs 13 Year ₹ 28.6 Lakhs Source Average Technical Architect salary in India based on Industry: Industry Salary IT Services & Consulting ₹ 27.8 Lakhs Financial Services ₹ 27.1 Lakhs Internet ₹ 32.1 Lakhs Software Product ₹ 29.9 Lakhs BPO/KPO ₹ 26.4 Lakhs Source Top employers hiring technical architects in India: Source 5. Analyst Relations Manager It is the job of a relations manager to establish the company’s brand image and raise awareness about its innovations in the marketplace. Such external representation can take the form of media interactions, public relations, newcasting, and so on. Moreover, the internal teams should know about the technologies and their benefits to exude a positive view of the organization. The excessive & growing demand makes analyst relations manager land on one of the highest blockchain salary jobs in India The relations manager should be well-aware of all the intricacies of the technology. Such understanding is critical to dealing with any technical questions and addressing the queries of non-tech stakeholders.  An analyst relations manager is responsible for improving a company’s brand reputation and focusing on issues that hamper development. Generally, these professionals are tasked with newscasting, public relations, and media collaborations. The operational teams working under the supervision of a relations manager should be familiar with the advancements and their benefits to impact the association positively. These professionals must be aware of various technology complexities. This knowledge helps them handle any specific inquiries and resolve non-tech partners’ concerns. It is a demanding blockchain career because analyst relations managers are offered admirable salaries based on their skills and experience. In-Demand Software Development Skills JavaScript Courses Core Java Courses Data Structures Courses Node.js Courses SQL Courses Full stack development Courses NFT Courses DevOps Courses Big Data Courses React.js Courses Cyber Security Courses Cloud Computing Courses Database Design Courses Python Courses Cryptocurrency Courses 6. Business Analyst This job is all about examining the viability of innovations and upgradations. A large portion of the work of business analysts is to evaluate technologies. To do this, they have to monitor market trends, discover patterns, and make several decisions regarding the brand positioning. It is one of the highest paying blockchain jobs in the market today. They figure out what kind of products would appeal to the audience and utilize their coding, statistical, and analytical know-how to facilitate effective customer-facing services.  A business analyst’s role is crucial in any project team. They work as the major interface between the project manager and the users. They collect information, document processes, and validate the documents with users. If you aim to embark on a blockchain career as a business analyst, you must be aware of their key responsibilities as below: Assessing business processes and requirements, discovering areas for improvement, and implementing solutions. Supervising ongoing reviews of business processes and creating optimization strategies. Staying updated on the latest process and IT developments to modernize and automate systems. Conducting presentations and meetings to share ideas and discoveries. Conducting requirements analysis. Effectively communicating plans and insights to cross-functional team members and the management team. Collecting critical information from meetings with different stakeholders and generating valuable reports. Salary: Average business analyst salary in India: ₹ 9.7 Lakhs. Source Average Business Analyst salary in India based on Locations: City Salary Bangalore ₹ 10.4 Lakhs Pune ₹ 10.3 Lakhs Mumbai ₹ 10.2 Lakhs Hyderabad ₹ 10.2 Lakhs New Delhi ₹ 9.8 Lakhs Kolkata ₹ 9.6 Lakhs Chennai ₹ 10.2 Lakhs Source Average Business Analyst salary in India based on Experience: Experience Salary 1 Year ₹ 6.3 Lakhs 2 Year ₹ 7.0 Lakhs 3 Year ₹ 7.7 Lakhs 4 Year ₹ 8.5 Lakhs 5 Year ₹ 9.4 Lakhs Source Average Business Analyst salary in India based on Industry: Industry Salary IT Services & Consulting ₹ 9.6 Lakhs Financial Services ₹ 10.7 Lakhs Internet ₹ 10.5 Lakhs Software Product ₹ 9.9 Lakhs Analytics & KPO ₹ 10.2 Lakhs Source Top employers hiring business analysts in India: Source 7. Crypto Community Manager These professionals play a significant role in marketing and client interactions. They work as the network administrators who track and present engagement statistics over all channels, including Net and social media. Such tasks require deep comprehension of the project fundamentals, especially when it comes to handling client queries. Educational requirements for this role are typically not rigid. Nowadays, many startups hire freshers who can learn about blockchain essentials and grow with the organization. If you are looking for practical exposure, small organizations can provide a suitable environment for building your capabilities.  Crypto community managers engage and communicate with the marketing team and customers. Their key role is to present interaction statistics on the Internet, social media, and other platforms. These tasks need a deep understanding of the project fundamentals, specifically customer concerns. They work as network administrators by tracking and presenting engagement statistics. Small-scale organizations can offer a suitable environment for various blockchain job opportunities with decent salaries. Usually, the educational requirements are not so rigid for this job role. Currently, several start-ups recruit freshers who can know blockchain essentials. Small-scale organizations can offer a suitable environment to expand your capabilities if you are hunting for practical exposure. 8. Front End Engineer It is the front-end of any website or application that appeals to your customer or clients. Whether it is an established multinational or a startup, the User Interface or UI should facilitate excellent interaction. A diverse range of options is available in terms of sector preference for blockchain web designers, from medical services to credit and finance.  As a blockchain front-end engineer or designer, your job would be to conceive and develop original UI ideas for mobile and web applications. You would use software like Sketch, Figma, and PS to perform your job duties. Besides being proficient in UX/UI design, good communication skills are central to working with content, marketing, and operational teams for front-end development. Front-end engineers design, build and execute the user interface systems of software programs, websites, and web-based applications. One of their key objectives is to offer a pleasing user experience with zero errors, downtime, and issues. In addition to creating and optimizing systems, they test and troubleshoot too. Moreover, they can resolve issues related to browser compatibility and accessibility. Usually, they serve as an intermediary between the backend developers and the users. There are great blockchain job opportunities for deserving candidates who can use relevant tools and platforms to acclimatize to real-world use cases. Salary: Average Front end Engineer salary in India is ₹ 11.3 Lakhs. Source Average Front end Engineer salary in India based on Locations: City Salary Bangalore ₹ 14.1 Lakhs Pune ₹ 10.9 Lakhs Mumbai ₹ 12.2 Lakhs Hyderabad ₹ 14.2 Lakhs New Delhi ₹ 8.3 Lakhs Chennai ₹ 5.1 Lakhs Gurgaon ₹ 8.2 Lakhs Source Average Front end Engineer salary in India based on Experience: Experience Salary 1 Year ₹ 7.8 Lakhs 2 Year ₹ 9.2 Lakhs 3 Year ₹ 11.0 Lakhs 4 Year ₹ 12.9 Lakhs 5 Year ₹ 15.0 Lakhs Source Average Front end Engineer salary in India based on Industry: Industry Salary IT Services & Consulting ₹ 7.5 Lakhs Financial Services ₹ 6.3 Lakhs Internet ₹ 20.8 Lakhs Software Product ₹ 15.3 Lakhs Hardware & Networking ₹ 8.9 Lakhs Source Top employers hiring front end developers in India: Source 9. Legal Consultant As blockchain technology is coming under more regulatory scrutiny, companies need legal counsel in the initial stages. As a legal consultant, you would be responsible for guiding them on how to structure and govern their coin offerings. Additionally, you would oversee legal partnerships and contracts related to blockchain.  Blockchain legal consultants provide advice to bodies associated with product launches, crypto projects, etc. They handle the legal contracts by explaining to them the terms and conditions. They ensure their clients are fulfilling the regulatory guidelines of their native nation. Their job requirements include a detailed understanding of the legal infrastructure in the blockchain industry. They may work with a country’s regulatory framework related to crypto and finance. Moreover, they are knowledgeable about smart contracts. Blockchain legal consultants with these skills can access some of the best blockchain jobs in India. Web3 education is crucial because the Web3 industry continues to develop quickly. Here are the eligibility requirements to become a Blockchain legal consultant: A certified degree in law from an acknowledged institute. Deep knowledge of tokens and trading to ensure the clients’ token operations are supported through legal documents. Ability to prepare commercial agreements adhering to the country’s legislation. How to use blockchain to leverage the technology without legal implications safely. In-depth knowledge of smart contracts. Various professional courses and training are available to develop the skills required for landing a career as a blockchain legal consultant. These courses and training prepare them to handle future challenging roles in their organization. Smart contracts are excellent automation tools that can be executed on previously agreed terms. And businesses slowly realize the benefits of leveraging this emerging technology to their advantage. The excessive & growing demand makes legal consultants land on one of the highest salary blockchain jobs in India. With this perspective, an attorney may connect the crypto ecosystem with the current financial structure by providing the following services: Drafting legal agreements Conducting negotiations Performing due diligence Supporting activities of mergers, acquisitions, etc. Salary: Average Legal Consultant salary in India is ₹ 7.5 Lakhs. Source Average Legal Consultant salary in India based on Locations: City Salary Bangalore ₹ 5.6 Lakhs Pune ₹ 7.1 Lakhs Mumbai ₹ 10.4 Lakhs Hyderabad ₹ 8.7 Lakhs New Delhi ₹ 6.5 Lakhs Chennai ₹ 8.1 Lakhs Gurgaon ₹ 8.3 Lakhs Source Average Legal Consultant salary in India based on Experience: Experience Salary 1 Year ₹ 4.2 Lakhs 2 Year ₹ 4.5 Lakhs 3 Year ₹ 5.4 Lakhs 4 Year ₹ 6.2 Lakhs 5 Year ₹ 7.1 Lakhs Source Average Legal Consultant salary in India based on Industry: Industry Salary IT Services & Consulting ₹ 4.8 Lakhs Financial Services ₹ 6.1 Lakhs Real Estate ₹ 11.6 Lakhs Legal ₹ 5.7 Lakhs Engineering & Construction ₹ 10.1 Lakhs Source How legal advisor salary increases over experience: Source 10. Blockchain Project Manager This occupation is concerned with executing successful blockchain projects in any organization. Blockchain project managers are hired to convert the company needs into technical knowledge. They plan, supervise, and implement projects to realize specific goals. When a business is thinking about introducing blockchain, it is the in-house project manager facilitating the adaptation of the existing technology platforms to cater to the required changes.  Blockchain Project Managers oversee the Blockchain project team. They are responsible for the organization’s blockchain database systems, processing systems, and cyber currency controls. Other responsibilities include processing security, overseeing cyber currency management systems, resource monitoring, reporting, and developing specialized programs. These professionals coordinate blockchain processing software issues with other IT companies, including operations and applications. Database systems and blockchain processing are crucial in any enterprise’s systems.  These systems should offer excellent reliability and performance. The blockchain project manager role is one of the challenging blockchain jobs in India because they are tasked to supervise the blockchain processing activities and ascertain that the systems perform at peak efficiency. Read our Popular Articles related to Software Development Why Learn to Code? How Learn to Code? How to Install Specific Version of NPM Package? Types of Inheritance in C++ What Should You Know? 11. Blockchain Developer If you pursue a career in blockchain development, several industries are open to you. These include financial services, government departments, and tech companies, all seeking talented developers to offer better services. It would be best to brush up the following skills before you venture into this field: Microsoft SQL Server MySQL .NET AJAX Visual Studio Javascript JQuery Node.js REST Neural networks Regression Agile Scrum C++, C#, HTML, XML, etc. Blockchain developers facilitate safe digital transactions by developing systems to record and save blockchain data such that it avoids data hacks or modifications. They develop secure blockchain technologies, application features, and interfaces. Furthermore, they maintain client- and server-side applications. It is one of those blockchain technology jobs in India that demands great attention to detail. This is because blockchain developers need to collaborate with managers to discover blockchain technology needs and expected functionalities. Moreover, they write multi-threaded codes and use programming languages to create application features and interfaces. Salary: Average Blockchain Developer salary in India is ₹ 9.4 Lakhs. Source Average Blockchain Developer salary in India based on Locations: City Salary Bangalore ₹ 9.0 Lakhs Pune ₹ 6.1 Lakhs Mumbai ₹ 7.0 Lakhs Hyderabad ₹ 8.7 Lakhs New Delhi ₹ 6.9 Lakhs Chennai ₹ 6.8 Lakhs Gurgaon ₹ 8.5 Lakhs Source Average Blockchain Developer salary in India based on Experience: Experience Salary 1 Year ₹ 7.6 Lakhs 3 Year ₹ 9.9 Lakhs 4 Year ₹ 12.3 Lakhs 5 Year ₹ 12.7 Lakhs Source Average Blockchain Developer salary in India based on Industry: Industry Salary IT Services & Consulting ₹ 8.6 Lakhs Financial Services ₹ 7.7 Lakhs Software Product ₹ 13.8 Lakhs Analytics & KPO ₹ 9.4 Lakhs Internet ₹ 17.1 Lakhs Source 12. Blockchain Quality Engineer As the title suggests, a quality engineer ensures the quality of blockchain development and maintains adequate support for web, mobile, and platform engineering. These tasks cover all areas of automation frameworks, manual testing, and dashboards. Blockchain quality engineers ensure that all blockchain spaces and their improvements are of top-notch quality. Their key roles include handling manual testing, automation systems, and dashboards. They check whether the developed application has any glitches or issues. If any bugs are detected, the blockchain quality engineers should address them to the relevant segment of the organization. Subsequently, they guarantee that the final product is devoid of any glitches. A broad understanding of blockchain platforms’ framework is essential to land one of the well-paying blockchain technology jobs in India. Moreover, critical thinking and reasoning skills are significant to further excel in a career as a blockchain quality engineer. It has always been one of the best blockchain jobs in India, and dealing with money – yours and others – is the stuff of dreams. Employers give weightage to candidates with engineering and MBA degrees. Here are the main responsibilities include of blockchain quality engineers are: Conducting research and advising on blockchain tools Developing quality assurance or QA automated test standards  Devising strategy for load performance tests Writing and implementing a test automation strategy 13. Blockchain UX/UI Designer Blockchain UX/UI Designers are among the top highest-paying jobs in blockchain technology for several reasons. Their specialized skill set is in high demand as they must navigate the complexities of blockchain technology while adhering to user experience design principles. As the blockchain industry continues to expand across various sectors, the need for skilled professionals, including UX/UI Designers, has risen significantly.  User experience is highly important as the success of blockchain applications hinges on intuitive and user-friendly interfaces. Blockchain UX/UI Designers play a crucial role in making blockchain technology easy for people to use. Their responsibilities include understanding how blockchain works, researching what users need, and designing interfaces that are simple and user-friendly. They create visual designs, test them with real users, and work closely with developers to bring their designs to life.  Security is also a priority, ensuring that users’ information stays safe. Designers stay updated on the latest trends and document their decisions to collaborate effectively with the rest of the team. Overall, their goal is to make complex blockchain applications accessible and enjoyable for everyone. Most importantly, the scarcity of talent proficient in both blockchain and UX/UI design contributes to the elevated demand and higher salaries. With blockchain technology not inherently user-friendly, companies recognize this as one of the highest paying blockchain jobs in India. 14. Blockchain Data Scientist Blockchain data scientists are responsible for analyzing and interpreting data generated by blockchain networks to derive insights and inform business decisions. This role falls under the top highest-paying blockchain technology jobs due to their unique and specialized skill set that combines expertise in data science with a deep understanding of blockchain technology.  The complexity of blockchain data, including vast amounts of transaction and smart contract data, requires advanced data science skills to analyze and extract meaningful insights. These professionals play a critical role in decision-making, providing actionable intelligence that informs strategic decisions, enhances network performance, and contributes to the success of blockchain projects. The increasing adoption of blockchain technology across various industries amplifies the demand for skilled data scientists who can optimize implementations.  Among a myriad of high-paying blockchain technology job opportunities, this role stands out especially because it makes a huge impact on risk mitigation, security enhancement, and regulatory compliance.  15. Blockchain Integration Specialist A Blockchain Integration Specialist is a professional responsible for seamlessly incorporating blockchain technology into existing systems and applications. Their role involves understanding the intricacies of blockchain and ensuring its smooth integration with various platforms, databases, and business processes. This position ranks towards the top roles that offer lucrative career opportunities in blockchain for several reasons. The expertise required to integrate blockchain with legacy systems is specialized and in demand. Companies often face challenges when incorporating this decentralized technology into their established infrastructure, requiring skilled professionals to navigate and implement solutions.  Secondly, the high demand for blockchain integration is driven by the growing adoption of blockchain across industries, including finance, supply chain, healthcare, and more. As companies strive to leverage the benefits of blockchain, the need for specialists who can seamlessly integrate this technology into existing frameworks becomes critical.  The complexity of ensuring interoperability between blockchain and legacy systems, along with the strategic importance of successful integration, makes Blockchain Integration Specialists highly valued in the job market.  Most importantly, the potential impact on organizational efficiency, security, and innovation that blockchain integration specialists make on a company makes this role one of the highest paying jobs in blockchain technology. 16. Decentralized Application (DApp) Developer A Decentralized Application (DApp) Developer specializes in creating applications that operate on blockchain networks, using the capabilities of smart contracts. Their role involves coding, testing, and deploying these decentralized applications, ensuring they interact seamlessly with the underlying blockchain infrastructure.  DApp Developers are considered among the top highest-paying blockchain developer jobs for several compelling reasons. As businesses explore blockchain solutions, the need for developers who can create innovative and efficient decentralized applications becomes paramount. More importantly, the complexity of developing on a decentralized platform, where trustless transactions and smart contract functionalities are essential, requires a specialized skill set.  DApp Developers must possess a deep understanding of blockchain protocols, smart contract languages, and security considerations, making their expertise both valuable and sought after. Thirdly, the scarcity of professionals with hands-on experience in DApp development contributes to the competitive salaries in this field.  As the industry matures, the demand for skilled developers outpaces the available talent pool, prompting companies to offer higher compensation to attract and retain top-tier DApp development talent. Moreover, the strategic importance of decentralized applications in transforming business processes, enhancing security, and providing transparency further justifies the premium associated with DApp Developer roles.  17. Cryptocurrency Analyst Cryptocurrency Analysts are among the highest-paid blockchain developer jobs for freshers because they play a crucial role in helping investors and financial institutions navigate the unpredictable cryptocurrency market. The fast-paced changes in the crypto world make their expertise valuable, as investors rely on them to interpret trends and identify opportunities. The global interest in cryptocurrencies has surged, increasing the demand for analysts who can navigate the complexities of this market beyond traditional financial analysis. The scarcity of individuals with a deep understanding of both blockchain technology and finance adds to their high pay. Cryptocurrency Analysts need unique skills to provide accurate analyses. Their decisions significantly impact investment portfolios, and as crypto adoption grows globally, their insights are vital for shaping investment strategies, justifying the premium salaries for this role. In essence, the combination of the dynamic crypto market, rising demand for specialized skills, scarcity of dual expertise, and the impactful nature of their insights contributes to Cryptocurrency Analysts being among the top highest-paying blockchain jobs in India. 18. Blockchain Compliance Officer A Blockchain Compliance Officer is considered one of the blockchain developer fresher jobs because many companies have hih demands for experts in this role. Due to the critical role they play in ensuring that blockchain projects comply with ever-evolving regulations and legal requirements. The complexity of the regulatory environment in the blockchain industry, coupled with the scarcity of individuals possessing both blockchain technology and compliance expertise, justifies the higher compensation. Their unique skill set is essential for bridging the gap between technology and legal requirements. The strategic importance of compliance for the success and reputation of blockchain projects further contributes to the elevated salaries for professionals in this role. As the blockchain industry matures, the demand for skilled Compliance Officers continues to rise, solidifying their position as one of the top highest-paying blockchain jobs in the country. 19. Smart Contract Developer A Smart Contract Developer is highly important because of their involvement in smart contracts in blockchain technology. The demand for these developers is driven by the increasing adoption of blockchain across industries, where businesses seek experts to automate complex processes through secure and efficient smart contracts. The specialized skills required, including a deep understanding of blockchain protocols and coding languages, contribute to the scarcity of qualified developers. The potential risks associated with coding errors in smart contracts enhance the value of experienced developers, justifying the higher compensation for this role in the competitive job market. 20. Blockchain Security Specialist A Blockchain Security Specialist is a professional who concentrates on ensuring the security of blockchain networks by identifying and addressing vulnerabilities while implementing security best practices. This role is considered one of the top blockchain jobs offering a high blockchain engineer salary. As blockchain technology becomes increasingly integrated into various industries, the need for robust security measures is paramount. Blockchain Security Specialists are instrumental in safeguarding sensitive data, transactions, and smart contracts from potential threats, making their expertise highly valued. More importantly, the complexity of blockchain networks, coupled with the evolving nature of cyber threats, requires a specialized skill set. Blockchain Security Specialists must possess an in-depth understanding of both blockchain technology and cybersecurity principles. This dual expertise is relatively rare, contributing to the scarcity of qualified professionals and justifying the higher compensation for their services. The critical role played by security in the success and adoption of blockchain technology further enhances the value of Blockchain Security Specialists. Security breaches can have severe consequences, including financial losses and damage to an organization’s reputation. Companies recognize the importance of having skilled specialists to proactively address security concerns, contributing to the higher salaries associated with this role. The must-have skills for a blockchain career The scope for blockchain is limitless in the current global context. So, it is no surprise that the highest paying blockchain jobs in India show inclination towards individuals who continuously update their skill sets. Your critical thinking abilities, married with awareness about the latest market trends, can set you apart from the crowd. The highest paying blockchain jobs in India per month typically range between ₹1 lakh and ₹2.5 lakhs. If you are interested in blockchain technologies, you can prepare to get on the bandwagon with the essential toolkit summarized below. Solidity, Ethereum, Hyperledger, Ripple Mathematical proficiency with a basic understanding of algorithms  Knowledge of C, C++, Python, Java languages Command over blockchain development tools – for example, Geth, Mist, Parity, Remix, Solium, BaaS, Truffle, among others)  Acquaintance with DevOps tools (Jenkins, Selenium, TravisCI, etc.) Experience of cloud creation using Node.js, REST tools, web apps Interacting with stakeholders having different backgrounds and perspectives Exposure to Fintech technologies, cryptography, information science, and open source (OSS programming) Most companies hire blockchain practitioners who hold at least a bachelor’s degree in Mathematics or Computer Science. Implementation of open-source projects and a relevant postgraduate degree can set you apart in the job market. All in all, you need a technical background coupled with the curiosity to learn and explore more. Blockchain Jobs Salary As per the leading job search sites, blockchain-related openings come with an average pay package of Rs 8 lakh per annum. Blockchain developers can make anywhere from Rs 5 LPA to Rs 30 LPA. And professionals with three years of work experience can earn as high as Rs 45 LPA. For top seniority positions, the BFSI sector in India employs individuals who have demonstrated skills in security operations at salaries of Rs 4 crore a year.  Source IBM, Visa, Microsoft, and Deloitte Consulting LLP are among the top recruiters who hire blockchain experts in mid to senior-level roles. When it comes to remuneration, the geography of the job matters a lot. For instance, there is a considerable difference between what a blockchain developer or specialist makes in Asia vis-a-vis in Europe, UK, or Asia. So, let us now see how the pay range varies according to location. Asia: $87,500 p.a.  Europe: $73,300 p.a. UK: $90,000 p.a. (Startups pay between $50k and $60k a year) US: 136,000 Besides full-time jobs, the remote and freelance markets are also abuzz with blockchain prospects. Employers publish several new posts on online freelancing platforms every day. According to an Upwork report, blockchain is on track to become the cloud of the 21st century. The average rate of pay for individuals in this space can range from $65 per hour to $250 per hour, depending upon the experience level and the type of assignment.    What is the salary of Blockchain developer in India per month The salary of a Blockchain Developer in India per month typically ranges from ₹1 lakh to ₹2.5 lakhs, depending on experience and expertise. Blockchain career salary are notably high, reflecting the increasing demand for skilled professionals in this field. With the rapid expansion of blockchain job opportunities in India, individuals who stay updated with the latest skills and market trends are highly sought after. Blockchain Developer salary per month highlights the lucrative nature of this career path, offering competitive compensation and growth prospects. A stepwise guide for breaking into blockchain If you are just beginning to explore blockchain technologies, you can structure your learning process in the following way: Gain essential comprehension of blockchain: Set the foundation by answering some basic questions, viz. If there is no centralized arrangement, what comprises the blocks and chains? How do you reach a consensus? Acquire knowledge of cryptocurrencies: Find out existing use cases of blockchain applications and get familiar with how cryptographic money functions. Additionally, you can delve into digital currency infographics.  Build your business acumen: Think about how blockchain can be utilized to drive business goals. Spend some time grasping how different teams and departments can work together and adapt to this new technology. If you would better social and people management skills for your job, explore learning avenues that meet those needs. Learn new programming languages: Java and HTML are the bare minimum requirements. Try your hand at some modern programming languages to become a successful professional in the blockchain space. Become an engineering expert: Perform methodical work to acquire advanced education in blockchain and application development spheres. Work out how diverse organizations adjust to different business situations and adapt via technological solutions. Understanding of blockchain applications: Do some research on how blockchain is rearranging existing business operations and how innovations are working in synergy with other technologies to achieve scaling and profitability. Augment your profile with hands-on experience: Take up a blockchain internship or an entry-level position in a startup to identify your interest areas while learning on the job. Enroll in a specialized program: If you have already completed your undergrad degree and have worked in a technical field for a few years, you can opt for a postgraduate course in blockchain technology management. If you want to remain in your job while studying, consider the online executive options on upGrad.  The key takeaways  According to a Burning Glass Technologies study, the current demand for candidates with engineering and mathematical aptitudes surpasses the supply by 17%. And when it comes to blockchain, there is again a supply gap in the tech industry. The sooner you enter this field and master new skills, the better it would be for you to advance to positions with higher responsibility and pay.  These are the top 20 highest paying blockchain jobs in India. Blockchain is shaping the industry as we know it. In this article, we described the responsibilities and salary range of some of the highest paying jobs in blockchain. Finally, we looked at some of the leading blockchain recruiters around the world and concluded with a systematic plan to help you prepare for a career in network technologies. If you’re interested to become a blockchain developer and build smart contracts and chain codes, checkout IIIT-B & upGrad’s Advanced certificate program in blockchain technology.

by Mayank Sahu

22 Jul 2024

Blogs

55325

There has been a massive development in the field of Blockchain technology in the last decade. Many people and companies came to know about Blockchain Technology and witnessed the growth of blockchain demand, Thanks to Bitcoin. It is a technology to keep the records that are safest, secured, fast and without any central governing authority. It has completely revolutionized how the industry works and keep track of transactions and records.  Due to its many benefits, many companies and startups became interested in blockchain technology. This further gave rise to soaring demand for blockchain developers in the market. Blockchain tops the list of emerging jobs according to a report shared by LinkedIn. It is one of the most sought after skills by large companies. Blockchain is an upcoming field and market which is growing rapidly in the coming years the market size is expected to reach 163.83 billion by 2029. There are many reasons contributing to blockchain’s popularity in today’s time, and the security that it provides in transactions is one of those. Another very important reason is the traceability of the data blockchain provides. Check out our free courses to get an edge over the competition. Explore Our Software Development Free Courses Fundamentals of Cloud Computing JavaScript Basics from the scratch Data Structures and Algorithms Blockchain Technology React for Beginners Core Java Basics Java Node.js for Beginners Advanced JavaScript Blockchain has a very unique way of operating. The term blockchain is a process of recording information in a format that is not comprehendible by anyone easily. This format of recording the information allows the scope of secure transactions, that cannot be hacked or changed. Learn Online Software Development Courses from the World’s top Universities. Earn Executive PG Programs, Advanced Certificate Programs or Masters Programs to fast-track your career. What is Blockchain technology?  Before we talk about the prerequisite for Blockchain, let us understand what blockchain is. Blockchain can be defined as a digital ledger of all the cryptocurrency transactions across all the peer-to-peer networks. This advanced database mechanism allows transparent information sharing within a business network. A Blockchain database is used for storing data in blocks that are linked together like a chain.  The data cannot be deleted or modified without consensus from the network as the data is chronologically consistent. This is because, Blockchain can be used to create an immutable or unaltered ledger for tracking payments, orders, accounts, and various other transactions.  This technology has a built-in mechanism that helps prevent unauthorized transaction entries and builds consistency in the transactions’ shared view.  Why is Blockchain important?  Since you are interested in studying Blockchain technology, you must be aware of why it is so important and popular in today’s world. There are many challenges when it comes to recording financial transactions. Blockchain technology helps mitigate any legal issues that may arise due to unsupervised transactions.  This technology is used for developing a tamper-proof, decentralized system for recording transactions. All transactions made using Blockchain need to be approved by both parties and it is automatically going to be reflected on both their ledgers.  If you are wondering who can learn Blockchain? Any individual who has a basic technical understanding can learn Blockchain.  Prerequisite Skills Required to be a Blockchain Developer Check out our Advanced Certification in Blockchain 1. Fundamental skill and Knowledge in Technical Field There are a few skills that one should learn to become a blockchain developer. An individual should have a good knowledge of Information technologies, Information security, and computer science. The basic understanding of an aspiring blockchain developer should be clear in distributed systems, networking, cryptography and data structures. Check out our free blockchain online courses Distributed systems and Networking Blockchain is a distributed ledger that works across the network, and an individual should know how the network and distributed system works. A good understanding of how peer to peer networks work is a must. It helps in creating a good foundation in the network of computers which can range from routing to topologies of the network. All the connected computers are used for processing in the Blockchain. Byzantine fault-tolerant consensus is an essential key feature in the security of the Blockchain that one should understand. Just a basic understanding of the working and the basic concept will be enough for a beginner to start. Check out our Advanced Certification in Cyber Security Distributed systems collect the data in a decentralised manner where the data is collected and distributed among the connected users. The distributed system allows the data to be shared across the networks that are concerned with the data. The major importance of a distributed system would be that it enhances the real-time update of the data, as the data is shared across nodes that has a copy of the blockchain. Our Learners also read: Career in Blockchain! Cryptography The foundation of Blockchain is cryptography and from where the name of the cryptocurrency originated. Hash functions and digital signatures are created by using the public-key cryptography in the Bitcoin blockchain. A good background in mathematics skills can also help in the field of Blockchain for a developer. Block Ciphers, Message Integrity, and Authenticated Encryption are few concepts that one should have a clear understanding. Payments are secured on e-commerce sites by Hash Function. Cryptography is a very important feature of blockchain technology. It helps the blockchain developer to protect the data from any unauthorized access. This is carried forward using two levels namely, the key-encryotion method and another one is hashing. The function of cryptography protects the data from potential hackers. Once the data enters the systems, it gets stored in a block and gets encrypted and all of these blocks get chained together to build a network.  In order to secure the data, cryptography uses an algorithm and key that protects the data from the attacker. The encryption practice is to transform the input (plaintext) into the output that is encrypted (ciphertext). The attacker should not be able to decipher the input (plaintext) for the data to remain protected. Explore our Popular Software Engineering Courses Master of Science in Computer Science from LJMU & IIITB Caltech CTME Cybersecurity Certificate Program Full Stack Development Bootcamp PG Program in Blockchain Executive PG Program in Full Stack Development View All our Courses Below Software Engineering Courses upGrad’s Exclusive Software and Tech Webinar for you – SAAS Business – What is So Different? document.createElement('video'); https://cdn.upgrad.com/blog/mausmi-ambastha.mp4   Data Structures One should also understand the data structure to learn about the complex nature of Blockchain. In the Blockchain, the data is stored in the form of blocks and not in the form of tables. Databases are replicated across the whole network, which is called distributed ledger. The integrity of data in the blocks is maintained by using cryptography. A blockchain developer should know how Data Structures work such as linked lists, graphs, hash maps, search trees and many more. The skill of building the data structure from scratch is also essential for the blockchain developer. Knowledge of programming languages like C++, C-Sharp, C, Scala, Java, Python is also required. An individual can learn all the necessary knowledge about algorithms and data structures from the repository on GitHub. The data structures facilitate the storage and access of data in a manner that is productive and efficient in its approach. The data structure is a broader term, it basically consists of organised data, data that has a relationship with each other, etc. The data structure can also be understood in terms of linked lists and stacks. As the name implies the linked lists consist of linear data stored that is connected. These nodes represent a sequence and each node has a sequence for the next code. Cryptonomic Understanding A good blockchain developer should have a good understanding of the fundamentals of Blockchain. Cryptonomic is a word that is a mix of Cryptocurrency and Economics. Cryptocurrencies are affected by the valuation of currency and many monetary policies. One can also learn about the game theory to be more explicit about the working of cryptocurrency in the market and its valuation. It will help one to understand how cryptocurrencies are kept in check without being monitored by any central bank. An individual should learn how the economic structure is working around the cryptocurrency. In order to learn blockchain knowledge of cryptonomics becomes very important. The concept of cryptonomics is a unique innovation as it removes third-party involvement while receiving the payment.  Thai brings more decentralization in the money management, fund management, or investment management systems as it removes the middlemen. 2. Smart Contracts The smart contracts are the programs which help in automating the transactions. It helps in increasing the capabilities of Blockchain without any need of middlemen or lawyers to settle the deal. The smarts contracts are made with specific conditions or in particular situations. When these particular situations or conditions are met, then the transaction will be automatically processed when required. Currently, Auditing and optimizing of smart contracts cannot be done by many developers. A developer should be very well aware of all possibilities of execution of a smart contract. He should be able to ensure that smart contracts are only executed when it is expected. Smart contracts bring more automation and transparency to the processes. It makes sure that once the pre-determined conditions are met it executes the actions. In a smart contract, the details are put in the form of a code and these codes are not arranged randomly rather there is a method or a sequence to this arrangement. So as and when these arrangements meet the requirements get fulfilled and the contract gets executed. Just like any traditional contract, there is a feature of deadline in these digital contracts as well. The smart contract enhances the security, transparency, and accuracy of blockchain technology. The feature is advantageous and allows record-keeping, reduction of middlemen, reduction of fraudulent transactions, and many more. In-Demand Software Development Skills JavaScript Courses Core Java Courses Data Structures Courses Node.js Courses SQL Courses Full stack development Courses NFT Courses DevOps Courses Big Data Courses React.js Courses Cyber Security Courses Cloud Computing Courses Database Design Courses Python Courses Cryptocurrency Courses 3. Decentralized Applications There are some decentralized applications (DApp) that are built on blockchains. There are various platforms for a blockchain developer to build a DApp. Here are some of the popular Decentralized Applications: Hyperledger The main goal of Hyperledger is to develop technologies in the cross-industry Blockchain using an open-source collaborative platform. It was created by the Linux Foundation in the year 2016. The aim was to increase collaboration between entities across the network. It uses a ledger-based technology framework and blockchain to carry out the needful tasks. Hyperledger is not to be confused with crytptocurrency,  blockchain, or an organization rather it facilitates the building of the ecosystem, environment, or infrastructure for a successful blockchain system, etc. There are various layers that hyperledger uses, such as- Consensus layer Communication layer Smart layer EOS EOS stands for Electro-Optical System. The main goal of the EOS blockchain is to support industrial-scale applications. It is a decentralized operating system that has more scalability and higher transaction speed such as Ethereum. EOS is a platform based on blockchain that facilitates to development, building, or running the business applications. EOS provides secure and authorized access between the DApps. EOS also allows business applications to build secure, authorized applications similar to web-based applications.  EOS.IO and EOS tokens are the other two elements of EOS. The EOS.IO software controls and manages the blockchain software. Whereas, the EOS tokens as the name suggests are the cryptocurrency of the EOS. EOS has certain features that make the work easier for the developer such as self-describing interfaces, interface development, etc. These features make the application development and management smoother. NEO Da Hongfei and Erik Zhang founded Antshares in 2014, which was renamed NEO in 2017. NEO is not limited to one language, unlike Ethereum. A beginner can use Various programming languages such as Java and C# can be used to build DApps on NEO. It will work as a platform for digital businesses in the future. NEO is used to fully digitise the assets available on a platform to achieve the goal of a smart economy. In order for this to happen, smart contracts play a big role in the process. A digital asset is a term that holds a broader perspective. It is not only used for the digital assets buts also for the physical assets that have been tokenized on the blockchain during transfer. NEO supports transparency and security for digital assets. The assets enjoy protection validated by the digital identity and protection given to them. It has two tokens and NEO gas is used to pay for the transactions happening on the blockchain. Ethereum In 2015, Vitalik Buterin created Ethereum, which is currently the most popular platform for development. The Ethereum is fueled by the cryptocurrency called Ether. The language used in the Ethereum is called Solidity. Solidity is a smart-contract oriented language. Robustness is similar to a programming language like JavaScript and C++. Ethereum is used to create digital and secure technology. It has tokens that can be used on the blockchain technology platform. It allows the functions to be decentralised that are secure to be used. It is one of the reasons why Ethereum is used by blockchain developers. The platform of Ethereum has a native cryptocurrency that is ETH or ether. Ethereum is a blockchain technology-powered platform where ether is the currency of Ethereum. Also read, Blockchain career and its future growth  4. Learn to Simplify A blockchain developer should be able to innovate using the design thinking methodology. Blockchain is used to simplify the processes in the business, which helps in driving outcomes of companies. 5. Understand Blockchain Security A developer in Blockchain should have security skills like elliptic curve digital signatures, Merkle proofs, cryptographic hashing, private key, and public-key cryptography and many more. Frameworks in security are getting evolved for regulatory needs, legal needs, and compliance needs. The blockchain contains data that is huge in amount and should not be compromised. The blockchain has an inherent feature that is secure, decentralized, and transparent.   There are various types of blockchain that are private, public, permissioned, or permissionless. A blockchain engineer needs to be aware of various types of existing blockchains and the potential threats to them. There are various types of attacks that blockchain technology is prone to. The following are potential threats to blockchain technology- Phishing attack Sybil attacks Routing attacks 51% attacks 6. Know the Platforms There are multiple frameworks in Blockchain and learning all of them can create confusion. One should know how to select the right blockchain platform for particular cases. Different blockchain platforms such as XDC Network, Stellar, Quorum, OpenChain, R3 Corda, Ripple, Ethereum, and Hyperledger Fabric are some of the excellent blockchain platforms that a beginner can start to learn about. The companies choose which type of blockchain platform they require depending upon various factors such as the development platform, the type of platform that is required, languages required to develop the platform, scalability solution required, smart contracts usability, etc. Read our Popular Articles related to Software Development Why Learn to Code? How Learn to Code? How to Install Specific Version of NPM Package? Types of Inheritance in C++ What Should You Know? 7. Distributed ledger expertise A developer should be an expert to build distributed ledger technology. It will help in accelerating the development of smart contracts. 8. Master of Interoperability The mindset of blockchain developers should be open source because there is a risk of deployment in various technology platforms of interconnecting ledgers. Business outcomes can be driven, and latency is reduced by integrating with systems of an enterprise. 9. Embracing Blockchain Expertise as a Service During the formation of the consortium, skills of negotiation and collaboration are critical. Blockchain as a Service is a new latest thing in the market that a blockchain developer should be able to take benefits from. 10. Learning to Drive Business Outcomes A developer needs to understand the result expected by a business. One should build direct connections and explore data flow between customers, suppliers and trading partners across the ecosystem. 11. Blockchain architecture  This is another prerequisite for Blockchain technology, ideal for individuals who want to build a character as a Blockchain architect. Blockchain developers are expected to have a complete and thorough understanding of Blockchain, including its working and how the architecture of the network supports the functionality.  They should be familiar with the different kinds of consensus algorithms like proof of stake or proof of work. They are also expected to know about the four types of architecture in Blockchain – private, public, consortium, and hybrid. This is an important prerequisite for learning Blockchain technology. 12. Web Development  Here is another prerequisite to learn Blockchain. With Blockchain’s emphasis on decentralized networks, web development has become an integral part of Blockchain technology. Blockchain professionals should know about web development.  They need to have a comprehensive understanding of the technologies that support web applications. They should also be aware of what it takes to design, develop, and secure those applications. Blockchain web applications need to be user-friendly and efficient, without causing any adverse effects on the Blockchain network.  Blockchain can impact businesses’ growth by providing more secure, transparent, and traceable data. Blockchain technology cuts the cost by removing the intermediaries. In today’s times, blockchain technology is rising and giving opportunities to professionals to grow. Due to the demand for technology, there are many resources to get oneself educated, at least 7 skills needed to become a blockchain developer in this era. The professionals are paid very high in this field for the skills, expertise, and scientific mind they bring. The blockchain developer salary ranges from 2.4 LPA to 20.7 LPA and the average salary is 6.5LPA (Source). The figures may vary depending on the skills, experience, and upskilling history. Real-world applications of Blockchain  If you have worked on the best prerequisites to learn blockchain in india, you’re in luck. Blockchain has the potential to change almost every working industry today. If you looking forward to building a career in Blockchain technology, there are many promising options for you to choose from. Here are some of the industries where Blockchain technology has made an impact:  Finance  Finance was one of the first industries to recognize the potential of Blockchain technology. Blockchain is used for making efficient and secure payments. Several banking institutes have also started to employ Blockchain solutions to speed up cross-border payments and reduce transactional costs.  Energy  It is used in the energy industry for facilitating peer-to-peer energy trading. With this technology, energy producers will be able to sell directly the excess energy to consumers without any intermediaries.  Real estate  Blockchain can change the entire real estate domain by offering transparent and secure platforms for property transactions. This technology can help in reducing risks of fraud, lower costs, and speed up transactions.  Healthcare  In the healthcare industry, Blockchain technology can help in improving tasks like data sharing and record keeping. Any medical record stored in Blockchain can be accessed safely by both healthcare providers and patients. This leads to better patient care. It can help in preventing medical fraud, ensuring that the sensitive data is accessed by only authorized personnel.  There are various career opportunities available in the blockchain field, such as- Blockchain Developer Blockchain Solutions Architect Blockchain Project Manager Blockchain Legal Consultant Blockchain Quality Engineer Career opportunities in Blockchain  Blockchain is used in almost every sector as we just saw. There are several job roles that you can explore in Blockchain technology. Here are some of them: Blockchain developer Blockchain developers are high in demand as they help organizations expand their businesses to Blockchain platforms. This is probably one of the most marketable career paths in the Blockchain. These are high-ranking positions, hence Blockchain developers need to pay absolute attention to detail. A Blockchain developer salary is a lumpsome amount because of how demanding the job role is. These are professionals who have expertise in programming (such as C++, Python, and Javascript) and they build Blockchain applications. So for anyone wondering ‘does Blockchain require coding?’, the answer is yes it does. Average Blockchain developer salary: 8.5 LPA Source: City Average Annual Salary Bangalore ₹7.3 Lakhs New Delhi ₹15 Lakhs – ₹ 18 Lakhs Mumbai ₹1.8 Lakh – ₹ 20 Lakhs Hyderabad ₹11.4 Lakhs Pune ₹6.9 Lakhs Chennai ₹6 Lakhs Blockchain engineer The experts behind the development of any top company’s computer network, data structures, cryptography, and algorithm are Blockchain engineers. These engineers are responsible for developing the infrastructure and software needed to run Blockchain networks. Blockchain engineers examine and optimize the nitty-gritty features of Blockchain technology. A Blockchain engineer salary in comparison to a Blockchain developer salary per month is almost the same. Average Blockchain engineer salary: 8.3 LPA Blockchain solution architect These professionals are responsible for designing, assigning, and connecting Blockchain solutions with team experts like network administrators, developers, IT operations, and UX designers. This helps in developing the complete Blockchain solution. Average Blockchain solution architect salary: 21.0 LPA Source: Blockchain solutions quality engineer A Blockchain solutions quality engineer is responsible for checking and assuring that all operations are up to the mark according to the Blockchain development environment. These professionals conduct testing and automation of Blockchain frameworks. An important skill for these professionals is attention to detail which will help them spot any anomalies. Having good communication skills can go a long way for these individuals as it helps in maintaining good work relationships. Average Blockchain quality engineer salary: 13.3 LPA Blockchain consultant These individuals help new crypto firms develop growth strategies. They analyze the impact of Blockchain technology on a business and develop and implement strategies for increasing business efficiency. These professionals must have a proper understanding of Blockchain and the current market trends. Average Blockchain consultant salary: 15.4 LPA Source: City Salary Bangalore ₹15 Lakhs New Delhi ₹9.6 Lakhs Mumbai ₹10.6 Lakhs Hyderabad ₹17 Lakhs Pune ₹14.6 Lakhs Chennai ₹23 Lakhs Noida ₹15.7 Lakhs Source: What are the characteristics of Blockchain technology?  For anybody wondering ‘is blockchain easy to learn?’ the answer is yes, as long as you have a brief idea about the prerequisites listed below. The following are some of the key features of Blockchain technology:  Decentralization  In Blockchain, decentralization refers to transferring decision-making control from a centralized entity (organization, individual, or group) to a distributed network. Transparency is used by decentralized Blockchain networks to reduce the need for trust among members. These networks also discourage members from exerting control or authority over each other in ways that degrade the network functionality.  Consensus  For recording transactions, a Blockchain system establishes rules about member’s consent.new transactions can be recorded only when a majority of the members in the network are giving consent.  Immutability  Anything that cannot be altered or changed is known as immutability. No participant will be able to tamper with any transaction once it has been recorded in the shared ledger. If there is an error in any of the transaction records, you will have to add a new transaction to correct the mistake, and both these transactions will be visible to the network.  If you want to build a successful and fulfilling career in technology, Blockchain is perfect for you. There is a lot of scope for growth in the field along with a lucrative Blockchain developer salary per month.  Why should you pursue a career in blockchain?  Blockchain technology is a skill that is high in demand but not many candidates are experts in it. Blockchain experts are needed in multiple fields. With the emergence of Blockchain technology, many industries have been revolutionized. The applications of Blockchain are seen in a wide number of industries (as mentioned above). It is a universal infrastructure that stores or transfers information across the globe in a secure manner. With a proper understanding of the technology, you will not only be able to advance to senior job roles but also become a decision-maker during business collaborations. With the application of Blockchain, industries can build decentralized secure databases, that are safe from manipulation and tampering. It helps increase data safety, transparency, and efficiency in making business transactions. Also, the cost of various business processes is reduced because of Blockchain solutions. We hope by the end of this blog, your question “How to learn blockchain development” will be answered. Learn blockchain for beginners to experienced at upGrad. Conclusion As we can see how the Blockchain has grown so much in just a few years, no one can deny that the Blockchain is the best technology that many industries will be based on in the future. The skills required to become a blockchain developer ranges from understanding technical knowledge to study fundamentals of working of cryptocurrency and blockchain structures. Many large companies have already started using the applications of Blockchain in their businesses and reaping its benefits. After almost a decade later, many products and services will be based on blockchain technology only, and it is the right time for anyone to begin their career as a blockchain developer. If you are interested in building a career in computer applications, making a career in Blockchain technology can help you reach the heights of your career. A study showed that between 2021 and 2030 the Blockchain technology market is estimated to grow at a rate of 82.8%. So you must be well-versed with the prerequisite for Blockchain listed above. There is a rise in careers in blockchain technology and blockchain has tremendously changed the very face of the technology industry forever.  If you’re interested to become a blockchain developer and build smart contracts and chaincodes, checkout IIIT-B & upGrad’s Advanced certificate program in blockchain technology.

by Mayank Sahu

16 May 2024

Blogs

13678

Introduction Cloud computing and blockchain technology are the two on-demand technologies that are booming in the modern market and are being used by enterprises worldwide. One common difference between the two is that the records of the ledger databases in blockchain technology are immutable, whereas data stored in the cloud is mutable. Now, this might sound intricate. This article will guide you in-depth about the two and the difference between them. You will learn about both topics such as blockchain technology and cloud computing, and how they are changing technology. The emergence and development of cloud technology and blockchain has moved the world of software development, storage, services, and online transactions.  Cloud computing provides various online services such as infrastructure as a Service, Platform as a Service, and Software as a Service. This technology renders a well-oiled model for efficiently accessing various technological components and services for application development and integration. Check out our free courses to get an edge over the competition.  Blockchain technology provides a structural ledger database for storing transactional records known as blocks, and links them with numerous databases known as the chain. These immutable records are then signed cryptographically using a distributed consensus or validation protocol. This feature of blockchain brings in the popularity of robust transaction execution in multi-structural business environments. Before understanding the difference between blockchain and cloud computing, let us discuss each of these topics individually in detail. Learn software engineer programs from the World’s top Universities. Earn Executive PG Programs, Advanced Certificate Programs or Masters Programs to fast-track your career. Explore our Popular Software Engineering Courses Master of Science in Computer Science from LJMU & IIITB Caltech CTME Cybersecurity Certificate Program Full Stack Development Bootcamp PG Program in Blockchain Executive PG Program in Full Stack Development View All our Courses Below Software Engineering Courses Read: Cryptography in Blockchain: Types & Applications Blockchain Technology It is also known as Distributed Ledger Technology as it creates shared ledger databases. This technology also keeps a record of the history of the transacted digital assets that are unchangeable and transparent by decentralization and cryptographic hashing. Here, multiple parties agree on transaction specifications while guaranteeing accuracy and preventing tampering of data/records without the support of any trusted centralized authority. Check out upGrad’s Advanced Certification in Blockchain Blockchain has gained exponential popularity due to its promising and revolutionary technology. It reduces the risk of any technical transaction, casts out fraud, and delivers transparency in a scalable way for multiple uses. There are three essential concepts in blockchain: blocks, nodes, and miners. Blocks have three essential elements: ·All the data resides within the block. The system randomly generates a 32-bit whole number known as nonce as and when the block generates. A block header hash is then generated. Hash is a 256-bit cipher merged with the nonce. Explore Our Software Development Free Courses Fundamentals of Cloud Computing JavaScript Basics from the scratch Data Structures and Algorithms Blockchain Technology React for Beginners Core Java Basics Java Node.js for Beginners Advanced JavaScript Cloud Computing It is the delivery of computing services that includes software, storage, servers, database, networking, analytics, intelligence, etc. over the internet. All of these computing services provide flexible utilization of resources, rapid innovation, and economies of scale. Hence, enterprises and organizations are moving from traditional computing architecture to cloud-based architecture. Here, users pay for the cloud services that they are using. We can run more infrastructure through this approach without even bothering about management, maintenance, and security. Check out upGrad’s Advanced Certification in Cloud Computing upGrad’s Exclusive Software Development Webinar for you – SAAS Business – What is So Different? document.createElement('video'); https://cdn.upgrad.com/blog/mausmi-ambastha.mp4   Let us now dig deeper into blockchain vs cloud computing. Must Read: How to Make a Successful Career in Blockchain? Everything You Need to Know Blockchain vs. Cloud Computing Since we are familiar with both the terms and their features, let us now see the significant differences between them: 1. A cloud is something that we can gain access to through the internet. It is cyberspace where we can access the data online. On the other hand, blockchain is an encrypted system that uses different styles of encryption and hash to store data in protected databases. The system distributes these data records over various nodes and forms a consensus on the position of the data they contain. Data in the form of records are immutable in blockchain, whereas data residing in the cloud are mutable. Blockchain does not provide any service as it is a magnificent technological advancement that is a decentralized, distributed ledger that keeps a record of the provenance of a digital asset. On the other hand, Cloud is a computing service that provides services in three principal formats such as Software as a Service (SaaS), Platform as a Service (PaaS), and Infrastructure as a Service (IaaS). Blockchain guarantees the prevention of the tempering of data without relying on any third-party trusted centralized authority, whereas the cloud does not assure complete integrity and tamper-free data. Cloud computing can push the execution of blockchain technology-based projects. But it has a centralized (as all the data remains stored in a company’s centralized set of data centers) structure of data fetching. On the other hand, blockchain has a core principle of decentralization, which means it does not store any of its information in one space. In-Demand Software Development Skills JavaScript Courses Core Java Courses Data Structures Courses Node.js Courses SQL Courses Full stack development Courses NFT Courses DevOps Courses Big Data Courses React.js Courses Cyber Security Courses Cloud Computing Courses Database Design Courses Python Courses Cryptocurrency Courses Data and its existence in a cloud can be either public or private, which means it can be either visible or kept hidden from other users. In blockchain technology, transparency of data is one of the core characteristics of it. 2. Cloud computing mostly runs on a traditional database structure where the stored data resides in the machines involving participants. On the other hand, blockchain is an incorruptible and reliable online database registry of various digital transactions where participants can alter the data by taking the approval of each party involved. 3. Companies like Amazon Web Services (AWS), Alibaba Cloud, Google, IBM, and Microsoft provide cloud computing services while projects like Ethereum, Bitcoin, Hyperledger Fabric, and Quorum use blockchain technology. Read our Popular Articles related to Software Development Why Learn to Code? How Learn to Code? How to Install Specific Version of NPM Package? Types of Inheritance in C++ What Should You Know? Conclusion Both blockchain and cloud computing are playing a vital role in changing enterprises’ work environments and the way traditional computing works. Their emergence has not only gained momentum in the existing business infrastructure but has also changed the way the world of application development, storage, online transaction, and other services functions. Although cloud is a well-oiled model that can accelerate blockchain projects, their merger and blockchain cloud services are still in infancy. This blog has hopefully helped you understand how blockchain works. To know more about the technology and take on a career path as a blockchain developer, you can enroll for upGrad’s Advanced certificate program in blockchain technology. It provides one-on-one mentorship and 200+ hours of learning content with zero-percent EMI options.

by Mayank Sahu

25 Feb 2024

Blogs

54899

Blockchain development is one of the fastest-growing sectors. Companies are looking for blockchain developers to make new implementations, advance their current systems, and get ahead in the industry.  That’s why it’s the best time to become a blockchain developer. Blockchain developer skills are a combination of hard skills and soft skills from an abstract point of view. Thinking, how to become a blockchain developer, to start this journey, you should first learn the necessary blockchain developer skills you must have. In this article, we’ll discuss the same. So, let’s get started: Check out our free courses to get an edge over the competition. Explore Our Software Development Free Courses Fundamentals of Cloud Computing JavaScript Basics from the scratch Data Structures and Algorithms Blockchain Technology React for Beginners Core Java Basics Java Node.js for Beginners Advanced JavaScript Learn Software Courses online from the World’s top Universities. Earn Executive PG Programs, Advanced Certificate Programs or Masters Programs to fast-track your career. What Is Blockchain Development? Before delving into the different skills required for being a blockchain developer, let’s first clarify all your doubts regarding what is blockchain development? Well, blockchain development refers to a unique process wherein unchangeable DLT (Distributed Ledger Technology) is created, which is responsible for securely recording transactions and tracking assets. They may be physical assets such as money or other physical assets and can also be non-physical assets such as copyrights.  Blockchain development carries several advantages for various industries worldwide. Infact, in this technology-driven world, more and more industries are turning to blockchain technology to ensure a secure, accurate mode of sharing information. Blockchain network provides their users with a transparent delivery and shortage, which might include tasks such as tracking orders, accounts, or any other data. Some of the various sectors where blockchain technology is being used vigorously are healthcare, finance, supply chain, and real estate, among others. Thus, you can well imagine that there has been a significant increase in the demand for blockchain developers all around the world.  Advantages of Implementing Blockchain Solutions There are a series of benefits a company can derive by implementing this technology in their business. Some of them include Increased Transparency- One of the biggest benefits of using blockchain solutions for your business is that it enables a transparent view of the overall history of every transaction that is stored within the distributed ledger to all the members of the network.  With blockchain, a permanent record of transactions is shared across the network and cannot be altered. This eliminates issues with record tampering and provides more confidence in the accuracy of the data. Blockchain’s transparency also enables better auditing capabilities and compliance reporting. Network members can easily verify details and track the origins of transactions. Overall, the transparency afforded by blockchain builds greater trust between network participants by removing information asymmetry and ensuring all parties have access to the same verified information. Boosts Speed And Efficiency- Outdated manual methods can cost a lot of precious time in managing transactional data. However, with the help of blockchain, you can automate and simplify the process, thus not only reducing time wastage but also ensuring that everyone is working from the same up-to-date ledger. By eliminating manual data reconciliation and record keeping, blockchain streamlines processes and allows transactions to settle much faster. Updates to the blockchain ledger are shared in near real-time across the decentralised network, meaning all parties get access to the latest validated information quickly. This acceleration of transaction speeds significantly improves business velocity and makes companies more agile. Additionally, the ability to automate transactions through smart contracts reduces friction and human error that can further bog down processes. Blockchain solutions enable faster settlement times, near real-time data sharing, automation to reduce manual efforts, and synchronised ledgers to create substantial efficiency gains. Significantly reducing the risk of fraud- With the help of blockchain, you can have direct access to a complete audit trail, which will further help you to understand the asset’s history.  The immutable and decentralised nature of blockchain makes it incredibly difficult for any single party to tamper with transaction records. This provides a high level of protection against potential fraud or data manipulation. Additionally, the consensus mechanism to validate blockchain transactions requires agreement between multiple parties, preventing one actor from unilaterally changing records. Smart contracts can encode complex business logic to reduce loopholes. The transparency of blockchain also acts as a deterrent since all parties can view transaction histories, making it easy to detect unusual activity indicative of fraud. Blockchain solutions minimise vulnerabilities that can lead to fraudulent activities, errors, and falsified transactions by cryptographically securing data and requiring consensus to update. This provides greater assurance and trust in the validity of records for auditors, regulators, and network participants. Decreased costs- You no longer need the help of third-party intermediaries since blockchain takes care of all the tasks. It results in a significant reduction of unnecessary spending and enables faster growth.  By allowing parties to transact directly with each other through a shared ledger, blockchain removes overhead costs associated with intermediaries that provide centralised verification, clearing, and record-keeping services. Transactions can settle faster without intermediaries, lowering fees. Smart contracts automate complex processes that previously required extensive manual work, legal expenses, and outsourcing costs. The decentralised blockchain structure also eliminates single points of failure risk that can lead to very high costs. Additionally, the ability to detect fraud earlier based on the transparency of blockchain systems reduces expenses related to reconciling bad data, audits, and potential reputational damage. The streamlined processes and redundancy blockchain drives cost savings through automation, shared infrastructure, improved security, lower counterparty risk, and enhanced operational efficiency. The cost benefits ultimately accelerate growth by freeing up resources that can be invested in core business priorities. With that said, let’s take a look at the various roles and responsibilities of blockchain developers, and the skills required to be a blockchain developer.  A Brief Look at Blockchain Developers Today blockchain applications transforming the world of technology. Blockchain developers handle the entire life cycle of a blockchain application. This means you’ll be responsible for the research as well as the execution of the application.  They create the architecture of the system, make smart contracts, and optimize the protocols. As you must’ve guessed by now, they handle a lot of responsibilities, and that’s why they need to learn many blockchain skills to answer all the challenges in blockchain development.  There are other professionals, too, who help a blockchain developer in their tasks, such as a blockchain engineer.  Learn blockchain for free at upGrad. Types of Blockchain Developers Blockchain developers are of two kinds: Blockchain software developer Core blockchain developer They both are involved in blockchain development but have different responsibilities. We’ll take a look at them to get a brief idea of what they do. Explore our Popular Software Engineering Courses Master of Science in Computer Science from LJMU & IIITB Caltech CTME Cybersecurity Certificate Program Full Stack Development Bootcamp PG Program in Blockchain Executive PG Program in Full Stack Development View All our Courses Below Software Engineering Courses Blockchain Software Blockchain software developers build applications based on blockchain architecture and protocol. Their apps run on the blockchain too. You can compare them with web developers, who use the products of a web architect (protocol and design) to develop web applications.  Blockchain software developers create Dapps or decentralized applications. They are responsible for the front-end as well as back-end development of Dapps. They also supervise the stack that runs the Dapps.  What is blockchain developer and how to become blockchain developer? In addition to building the UI/UX and integrating the application with the blockchain network, blockchain developer must handle complex cryptography, consensus algorithms, and peer-to-peer networking logic involved in decentralised apps. The skills for blockchain developer are knowledge of languages like Solidity and Vyper and blockchain platforms like Ethereum, Hyperledger Fabric, and Corda. Testing and debugging smart contracts running on the blockchain is also critical. Besides development, blockchain engineers must consider factors like transaction fees, gas optimisation, and scalability when designing Dapps. Overall, blockchain developer leverages their specialised expertise in decentralised systems to build innovative applications that utilise the advantages of blockchain technology, like transparency, security, and autonomy. Testing and debugging smart contracts running on the blockchain is also critical. Besides development, blockchain engineers must consider factors like transaction fees, gas optimisation, and scalability when designing Dapps. Overall, blockchain developers leverage their specialised expertise in decentralised systems to build innovative applications that utilise the advantages of blockchain technology, like transparency, security, and autonomy. Our Learners also read: Blockchain Career! Core Blockchain These developers focus on the architecture development of a blockchain system. They design their consensus protocol and make most of the vital decisions related to blockchain. They supervise the network and design the architecture of the same. Core blockchain developers are responsible for the security of their blockchain network as well.  How to become a blockchain developer? Core blockchain developers are the architects of the foundational layers of blockchain platforms. They design and implement the core protocol, including aspects like the consensus algorithm, incentive structures, cryptographic primitives, and network stack. Core developers contribute heavily to open-source blockchain codebases that are the backbone of decentralised applications. They possess deep expertise in distributed systems, cryptography and advanced protocols like Byzantine fault tolerance. Core blockchain developers make technical decisions related to hard forks, upgrades, node incentives and governance mechanisms that steer the evolution of blockchain networks. They continuously analyse network security and performance to identify vulnerabilities and make improvements. Given their critical role, core blockchain developers significantly influence the roadmap, features and trajectory of blockchain platforms through their contributions. Roles And Responsibilities Of Block Chain Developers Below are some of the basic roles and responsibilities of a block chain developer.  Optimizing blockchain applications with the help of the latest technologies and tools. Cooperating with managers to find out the actual need for blockchain technology and envisaged functionalities. Staying up to date with the latest innovations in blockchain technology and cryptography methods. Sharing the various use of blockchain technology with sales personnel for a digitized and secure mode of payment. Protecting digital transaction data against threats such as information hacks or cyber attacks with the help of cryptology techniques. Using programming languages to create application features and interfaces.  Designing and implementing blockchain network architecture and infrastructure components like nodes, peer-to-peer layers, consensus protocols, etc. Developing and deploying smart contracts and ensuring they are safe, efficient and meet business requirements. Creating APIs for blockchain integration and building interfaces for applications interacting with blockchain networks. Testing blockchain applications thoroughly including writing unit and integration tests for code. Troubleshooting issues in blockchain networks and applications and identifying bug fixes and optimisations. Maintaining detailed documentation for blockchain systems and protocols to assist other developers. Participating in the blockchain open source community by contributing code to repositories and sharing knowledge. Advising stakeholders on strategies for decentralised data storage, tokenisation models, and compliance considerations. Tracking emerging blockchain standards, protocols and frameworks to incorporate into application development. Mentoring junior developers on blockchain architectures, cryptographic principles, consensus rules, and programming languages used. Top Blockchain Developer Skills  As you must’ve noticed, blockchain developers have many responsibilities. To handle those responsibilities well, they need to possess a few skills as well. There are certain blockchain developer skills one need to develop and master in order to become a successful. Here are the primary blockchain developer skills you should have to face and manage blockchain development.  Cryptography Cryptography is the study of protocols that prevent unwanted parties from accessing your data. There are many essential concepts in cryptography you should be familiar with as you’ll need them during blockchain development. For example, public-key cryptography is a crucial topic of blockchain. It forms the basis for the transactions we make through cryptocurrencies. To make transactions of cryptocurrencies, you’ll need to have a wallet and the key to that wallet. That key proves your ownership of the wallet, that’s why it’s essential. Save transactions of cryptocurrencies take place through encryption and decryption of public and private keys.  Another essential concept of Cryptography is cryptographic hashing. Hashing refers to producing an output of a specific length from an input of any length. The hash function could have information with 20 characters or 200 characters, but its output would only be of the length you’ve chosen.  Certainly, cryptography is vital for the proper workings of blockchain technology. You should learn about it and its various aspects, including the topics we’ve discussed here. With its knowledge, you’ll be able to keep your blockchain data safe.  In-Demand Software Development Skills JavaScript Courses Core Java Courses Data Structures Courses Node.js Courses SQL Courses Full stack development Courses NFT Courses DevOps Courses Big Data Courses React.js Courses Cyber Security Courses Cloud Computing Courses Database Design Courses Python Courses Cryptocurrency Courses upGrad’s Exclusive Software and Tech Webinar for you – SAAS Business – What is So Different? document.createElement('video'); https://cdn.upgrad.com/blog/mausmi-ambastha.mp4   Smart Contracts Since the day Ethereum entered the market, smart contracts have become a popular term in the blockchain industry. Almost every blockchain solution wants to use smart contracts for their benefit. So you can see how powerful this technology is.  Smart contracts let two parties exchange goods or services without needing an intermediary. You can compare smart contracts with a vending machine. You put in the payment, choose the product you want, get the product along with the remaining change. There isn’t a third party involved in this transaction as it’s just you and the vending machine.  Smart contracts finish only when the involved parties fulfill both of their conditions. It’s so effective because blockchain is decentralized. This means hundreds of users monitor your smart contract, and because they work on an IF-Then basis, there’s a possibility of error.  You can use smart contracts in many areas of different industries, such as law, construction, and many others. It can remove the middlemen from contracts and help in saving money and resources.  To become a blockchain developer, you should make yourself familiar with smart contracts. It is one of the essential blockchain developer skills. Multiple languages specifically focus on smart contract development, such as Chaincode and Viper.  Data Structures You’ll need to have extensive knowledge of data structures to become a blockchain developer. That’s because blockchain developers work with various data structures regularly as they have to build networks and implement them.  The entire blockchain network is made up of data structures, as even a block is a type of data structure. A block clusters transactions for the public ledger because so it is a container data structure, whereas the public ledger is the blockchain.  A block also contains a header, and the former is around 10,000x larger than the latter. As you can see, data structures are the fundamental concept of blockchain. You’ll need to master this topic to understand blockchain technology effectively.  Learning about data structures will ensure that you know the basics of blockchain. Having a strong foundation helps you in understanding the advanced concepts more quickly. We’ve already mentioned cryptography; you’ll be using both of these technologies to build reliable, useful, and secure solutions.  Also read, Blockchain career and its future growth  Blockchain Architecture To become a blockchain developer, you should be familiar with blockchain architecture. You should know what a ledger means in blockchain, what is consensus, and how smart contracts work.  Blockchain architecture has three kinds; they are: Consortium architecture The consortium architecture isn’t wholly decentralized. Here, the members of a group have full authority. In these cases, the group is made up of multiple organizations. The Energy Web Foundation is a stellar example of such blockchain architecture types. Consortium blockchains operate under the control of a group of predetermined organisations or entities rather than being fully decentralised. Participants must be granted admission to join the network. This architecture keeps the decision-making power in the hands of a select group while still taking advantage of blockchain’s benefits. It maintains privacy and allows for efficient transactions between the known group of participants, unlike public blockchains where anonymity prevails. Consortium blockchains are well suited to specific use cases like cross-border payments between a fixed group of banks or supply chain tracking between business partners. By limiting decentralised control to a curated set of verified nodes, consortium blockchains can balance the decentralisation of public networks with the centralisation of private networks. Private architecture In a private blockchain architecture, only a few people are part of the system. It’s a popular application within organizations. Sawtooth and Fabric are famous examples of such architecture. Another essential quality of such architecture is that they are not decentralized. Private blockchains operate within a single organisation where network participation and consensus are controlled by one entity. They differ from public blockchains, which have open, permissionless networks. The central authority restricts user access and mining/validation abilities. Private blockchains provide organisations with the benefits of blockchain technology, like immutability and cryptographic security, while retaining greater control over network rules. They are well-suited for regulated environments or use cases involving sensitive data. Private crypto wallet development can execute transactions faster without needing distributed consensus since a central authority approves all blockchain updates. However, they are less resistant to tampering or manipulation since their decentralised nature provides robust protection on public blockchains. Private blockchains allow centralised entities to reap blockchain advantages in a closed ecosystem with trade offs around full decentralisation. Public architecture Public architecture is the most decentralized type of blockchain architecture. Here, you can become a part of the network by mining or by making transactions. The most famous example of public blockchain architecture is Bitcoin, which you must’ve heard of by now.  You should read the whitepaper of bitcoin on blockchain to become familiar with this topic. It requires a little effort, but be sure that it’s worth it because you’ll get familiar with all the fundamentals and the advanced concepts altogether.  Read our Popular Articles related to Software Development Why Learn to Code? How Learn to Code? How to Install Specific Version of NPM Package? Types of Inheritance in C++ What Should You Know? Web Development As a blockchain developer, you’ll be developing web apps in most cases. Learning web development will make you acquainted with all of its aspects, and you can use this knowledge to create robust web apps that use blockchain technology. You’ll have to learn web design, development, and programming of apps, all of which will help you in developing better Dapps. Web development is crucial because most organizations require blockchain developers to create apps that people with no or minimal knowledge of blockchain could use. Having a vast experience of design will help you considerably in this purpose. Strong web development or blockchain developer skills are indispensable for blockchain developers building user-friendly decentralised applications. Frontend web development using HTML, CSS, and JavaScript enables crafting intuitive web interfaces that abstract the complexities of blockchain interactions. Familiarity with web programming languages like JavaScript and TypeScript allows integrating web apps with blockchain platforms through RPC APIs and client libraries. Knowledge of backend web development and frameworks like Node.js facilitates the development of performant web services for blockchain applications. Following web design principles creates more accessible DApps for all users. Since DApps rely on web technologies for the front and back end, proficient web development capabilities are vital for blockchain programmers to deliver complete solutions. Blending blockchain mechanisms with appealing and functional web apps is key.   Languages You Must Know Blockchain development is vast. Apart from the topics we’ve discussed, you should also consider learning a few programming languages. A common question among beginners is, ‘What languages should I learn to become a blockchain developer?’  The following are the main languages you should learn as a part of your blockchain skills: Java Java is popular among blockchain developers because of many qualities. It’s easy to learn, but it’s capable of developing many complex solutions. NEM, a popular cryptocurrency is based on Java. Java has more than 9 million developers as a part of its community. Moreover, it’s been present in the industry since 1995. Even though Java is old, it is still crucial so mastering data is important for blockchain development. Java is a foundational language for many blockchain platforms and applications due to its versatility, object-oriented nature, and vibrant development community. The capacity to write portable code that can run on any Java Virtual Machine makes it a practical choice for cross-platform blockchain solutions. Java enables complex cryptographic implementations required for blockchain, such as public/private key encryption and digital signatures. Smart contract languages like Solidity have a syntax similar to Java, easing the learning curve. Java skills allow developers to contribute to blockchain frameworks like Hyperledger, build decentralised applications, create APIs, and handle back-end operations. Given Java’s maturity, stability and wide adoption, it will likely remain a mainstay language for blockchain development for the foreseeable future. C++ C++ is a popular language among blockchain developers. You can perform a lot of tasks related to the blockchain with its help. The creators used C++ to create bitcoin core, so it’s certainly a must-have for any aspiring blockchain developer. C++ is critical for blockchain development due to its speed, efficiency, and ability to interact with system resources directly. As an object-oriented language with low-level memory access, C++ enables performance-intensive blockchain capabilities like cryptographic functions, consensus algorithms, and peer-to-peer networking. Developers rely on C++ to implement the core nodes and mining software that underpin blockchain networks due to its processing power and minimal runtime overhead. Projects like Bitcoin, Ethereum clients, Ripple, Stellar, IoTA, etc use C++ for the protocol implementations. C++ is also ubiquitous in building cross-platform blockchain applications and tools. Given its legacy usage for systems programming and in financial applications, mastering C++ unlocks the ability to contribute to core blockchain infrastructure and scale decentralised systems. Python Python is among the most popular programming languages on the planet. It’s versatile, and its various libraries enable you to use it for both front-end as well as back-end development. That’s why you should make yourself familiar with Python as well.  Python has a significant community of more than 4 million developers. Such a thriving and supportive community can help you out with many problems and doubts. Python is a critical language for blockchain development due to its readability, flexibility, and extensive libraries. As a high-level language, Python allows developers to prototype and iterate on blockchain applications rapidly. Python has libraries for essential blockchain capabilities like cryptocurrency APIs, smart contract deployment, and cryptographic key creation. The simplicity of Python enables developers to build user-friendly interfaces and abstract complex blockchain interactions. Many developers leverage Python for back-end services and DevOps tasks as well. Python is commonly used in major blockchain platforms like Hyperledger and Ethereum. Python’s versatility, scalability and concise nature make it a pragmatic choice for all blockchain application development and tooling aspects. You can also learn JavaScript, Ruby, and C#, along with the languages we’ve mentioned above. Ability to learn and work on multiple languages is one of the important blockchain developer skills.  Learn Blockchain Developer Skills Becoming a blockchain developer and get into blockchain development is quite easy. If you want to learn more about this topic, you can browse through our blog.  We hope you liked our article on top blockchain developer skills. What do you think of blockchain skills? Out of the skills we’ve mentioned above, which one would you learn first? There is a rise in careers in blockchain development and blockchain has tremendously changed the very face of the technology industry forever. If you’re interested to become a blockchain developer and build smart contracts and chaincodes, checkout IIIT-B & upGrad’s Advanced Certificate Programme in Blockchain.

by Mayank Sahu

19 Feb 2024

Blogs

7428

Ripple is a popular name in the tech industry. And Ripple blockchain has created a lot of buzzes. We all know how blockchain is transforming the industry as we know it. But what is Ripple a blockchain technology? What is it, and how does it work? In this article, we’ll answer these questions. You’ll also find out why it’s such a popular solution. So, without further ado, let’s get started.  Check out our free courses to get an edge over the competition   What is Ripple? Ripple is a for-profit platform and cryptocurrency. It’s a product of Ripple Labs and is gaining popularity because of its innovative method of performing currency exchange and payment settlements. The cryptocurrency of Ripple is XRP. And this platform has over a hundred organizations as its customers all over the globe.  They use Ripple because it provides them with hassle-free and fast transactions. Ripple’s cryptocurrency, XRP, has a valuation of more than $90 billion. This valuation makes it the third most valuable cryptocurrency according to market cap. It’s right next to Bitcoin. XRP is not for consumer use, but you can buy it. It’s not exactly a currency but more of a token.  Ripple has RippleNet, a network of payment facilitators. These are primarily banks and finance companies that use Ripple for conducting transactions smoothly all across the globe.  Check out upGrad’s Advanced Certification in DevOps Learn Software Development Courses online from the World’s top Universities. Earn Executive PG Programs, Advanced Certificate Programs or Masters Programs to fast-track your career. Explore Our Software Development Free Courses Fundamentals of Cloud Computing JavaScript Basics from the scratch Data Structures and Algorithms Blockchain Technology React for Beginners Core Java Basics Java Node.js for Beginners Advanced JavaScript How does Ripple Work? Ripple is not decentralized like other conventional blockchain networks. A strong network of validating servers and a ledger secure this system. The internal ledger of Ripple guarantees customer transactions. The parent company, Ripple Labs, handles the release of coins.  But the best thing about Ripple is, its transactions aren’t limited to its cryptocurrency, XRP. You can transfer any commodity, including gold, through Ripple as long as you’re able to find a facilitator who can make its transactions. Here’s a simple explanation of how Ripple blockchain works: Check out upGrad’s Full Stack Development Bootcamp (JS/MERN)  During ancient times, when there were no banks, people used to make transfers through payment agents. Suppose you wanted to send some money to your cousin who lives in another city. First, you’d notify him that you’re sending money and give him a password for withdrawing it. Then, you’d contact a payment agent and give him the money along with the password.  The agent will take the money. He will then take it to another agent and tell him to give it to the person who can provide the password. This way, your cash can easily reach the hands of your friend.  This system works when all the agents trust each other. Ripple uses banks and finance companies as their agents. Its algorithm finds a trusted path for conducting such transactions and ensures that everything goes smoothly. On Ripple, these agents are called ‘gateways.’ In theory, you can send anything such a car, goats, or gold through this system as long as you can find a gateway that could provide this commodity to the other party.  Ripple’s ledger ensures that all the IOUs between its various agents get resolved in real-time. And its efficient system enables fast procession of transactions.  Let’s take a look at XRP tokens, which are vital for conducting transactions in Ripple.  Explore our Popular Software Engineering Courses Master of Science in Computer Science from LJMU & IIITB Caltech CTME Cybersecurity Certificate Program Full Stack Development Bootcamp PG Program in Blockchain Executive PG Program in Full Stack Development View All our Courses Below Software Engineering Courses What are XRP Tokens? XRP is the cryptocurrency of Ripple. It’s a token that represents the transfer of value in the Ripple network. So, in conventional settings, companies use US dollars (or the local currency, such as INR) as the common currency for overseas transactions and transactions that occur between two places of different currencies.  The currency exchange costs a lot of time and fees. Due to this, such bank transfers can take up to 3 days to complete the process. This is where XRP comes in.  Ripple uses XRP as the common currency for performing currency exchange, which reduces the time and fees you’d have to spend. With the help of XRP, Ripple can conduct currency exchanges within seconds instead of taking 2-3 days.  This way, you get to save a lot of time. Regarding the procession fee, Ripple charges only $0.00001 for one transaction. That’s not a typo; it’s the actual fee.  The fee could’ve been zero, but Ripple has kept it to avoid scams and DDOS attacks.  Many banks and financial institutions have started XRP to facilitate their overseas transactions. The Commonwealth Bank of Australia, Santander, Fidor Bank, and 61 Japanese banks stated that they are either trying or using the Ripple network.  Difference between XRP and Bitcoin You might have some confusion between XRP and bitcoin, so let’s address them. First, XRP is limited to Ripple, whereas bitcoin is an independent cryptocurrency. Also, new coins get generated for participants who provide computational power to the chief blockchain network, in bitcoin. On the other hand, Ripple has created all the XRP coins (100 billion), and they release coins according to demand and supply. So, you can say that Ripple is a bank, too, as it handles the supply and demand of its currency.  Recently, Ripple has added a new feature in its network. They use smart contracts to release 1 billion of the XRP tokens they hold each month for funding business-related operations, selling to investors, and incentivizing customers.   Real-World Applications of Ripple Blockchain Ripple blockchain is significantly impacting the financial world, presenting real-world applications that are transforming cross-border payments and remittances. One of its primary and practical uses lies in its ability to serve as a global payment solution. Unlike traditional international transactions that can take days and involve high fees, Ripple’s blockchain ensures swift settlement and reduces transaction costs substantially.  Financial institutions are increasingly adopting Ripple’s blockchain for cross-border remittances. By utilizing its native digital asset XRP, these institutions can efficiently bridge different currencies, eliminating the need for multiple intermediaries and resulting in faster and more cost-effective transactions. Security and transparency are also strong points of Ripple’s blockchain. Its decentralized and immutable nature ensures data integrity and protects against fraud and cyber threats, fostering trust among transaction parties.  Beyond payments and remittances, Ripple’s blockchain is being explored for other practical use cases, including trade finance and supply chain management. Streamlining the tracking and verification of goods and payments enhances efficiency and reduces delays and disputes in the supply chain. Ripple’s blockchain technology is revolutionizing cross-border transactions with enhanced security and efficiency. It promises a more secure and efficient financial future as financial institutions adopt it for remittances and explore its potential in trade finance and supply chain management. In-Demand Software Development Skills JavaScript Courses Core Java Courses Data Structures Courses Node.js Courses SQL Courses Full stack development Courses NFT Courses DevOps Courses Big Data Courses React.js Courses Cyber Security Courses Cloud Computing Courses Database Design Courses Python Courses Cryptocurrency Courses How Ripple Got Started Even though Ripple’s founding year is 2012, the work on its concept started in 2004. Ryan Fugger started RipplePaay.com in 2005. It was a precursor to different blockchain currencies and gave secure online payment facilities to communities. But it didn’t get much traction. In 2001, Chris Larsen and Jared McCaleb approached Ryan.  They converted RipplePay into a digital transfer system. In the new order, community consensus verified transactions instead of miners, making it quite different from bitcoin.  They started working on the Ripple Transaction Protocol in 2012. This protocol could facilitate fast transactions and direct transfers in fiat currencies. To give the system better liquidity, they started the creation of a new value token too, which is XRP.  Many banks had started using this system by 2014 as it was an excellent solution for settling remittances. It evolved from a simple transaction platform to a cost-effective solution. Ripple has been able to grow continuously since then and has over 100 clients in its network. It’s a for-profit organization and has received investments from any Angel investors.  Key Milestones in Ripple’s Development Significant milestones have marked Ripple’s development since its inception. In 2012, the company introduced the XRP Ledger and its native digital asset XRP, laying the groundwork for its innovative technology. As the years progressed, Ripple made strategic partnerships with major financial institutions like American Express and Santander in 2014, enhancing its credibility in the financial world.  The turning point came in 2017 when RippleNet, its payment network, garnered attention from prominent banks and payment service providers, gaining widespread recognition and adoption. Ripple expanded global partnerships, continuing its growth, solidifying its position as a leading blockchain solution for cross-border payments and remittances. A clear vision and a remarkable history of achievements drive Ripple’s journey.  Their unwavering determination fuels a mission to revolutionize global transactions and push the boundaries of innovation in the financial sector. Notably, Ripple’s innovative solutions have garnered the trust and recognition of major industry players. As they continue reshaping the global payment landscape, Ripple is a testament to the power of determination and innovation. Is there a Ripple Blockchain? (What is RPCA?) The relation between Ripple and blockchain technology is unique. That’s because Ripple isn’t necessarily a blockchain solution. It has a cryptocurrency, but that doesn’t use blockchain, that’s why it can be a little confusing for some people.  As it doesn’t use blockchain, you might ask, ‘How does Ripple verify its transactions?’ Because without verification, Ripple wouldn’t be able to work at all. For this purpose, Ripple uses RPCA, which is an acronym for the Ripple Protocol Consensus Algorithm.  The word consensus refers to the ‘agreement’ section of Ripple. In Ripple, you need all the nodes of the system to agree with a process if you want to perform it. Suppose there’s a group of scholars who make all the vital decisions for the country if they want to go to war with someone they put it to vote and proceed with it only if they all agree. If one of them isn’t in agreement, they won’t make the decision. They’ll work it out with each other.  Security and Privacy Considerations in Ripple Blockchain Security and privacy are crucial aspects of the Ripple blockchain stock, prioritizing the protection of users’ transactions and data in the dynamic digital landscape. Ripple employs a robust consensus algorithm, the XRP Ledger, which relies on a unique agreement process among validators. This decentralized approach enhances security, making it highly resilient to malicious attacks and ensuring the integrity of transactions. Moreover, advanced cryptographic techniques safeguard sensitive information, preserving user anonymity and transaction confidentiality.  While the Ripple ledger is public, it ensures privacy by not disclosing users’ details, like names or addresses, during transactions. This pseudonymous approach shields user identities from public exposure, bolstering privacy protection. To further strengthen security, Ripple’s Interledger Protocol (ILP) enables secure cross-ledger transactions through encrypted communication between ledgers, mitigating the risk of unauthorized access to sensitive data.  Ripple’s commitment to compliance and regulatory standards provides a secure environment for financial institutions and users, facilitating transactions confidently while adhering to legal requirements. In conclusion, Ripple takes a human-centric approach to prioritize security and privacy, fostering trust and confidence in the digital financial ecosystem. Uses of Ripple There are plenty of applications of Ripple. The most prominent ones are the following: You can perform currency exchange without paying a high fee. As we mentioned earlier, the common mediation currency is the US dollar. It costs a high commission fee and takes a lot of time to convert one currency into USD, then from USD into another. Ripple uses XPR for this purpose. You get to save a lot of time in performing international transactions. Generally, these transactions take 2-3 business days. But with the help of Ripple, you can complete this process within a few seconds. Yes, the average time of processing transactions in Ripple is 4 seconds. You also have the option of creating your own currency. As we stated before, you aren’t limited to one currency. You can use other commodities for conducting transactions as well.  Read our Popular Articles related to Software Development Why Learn to Code? How Learn to Code? How to Install Specific Version of NPM Package? Types of Inheritance in C++ What Should You Know? Limitations of Ripple Everything has its flaws, and Ripple is no exception. It has some limitations, as well: It’s not decentralized like other blockchain solutions. People use cryptocurrencies because they are decentralized, but with Ripple, you have one organization controlling the supply and demand, making it similar to a bank. As of now, Ripple Labs own 61% of the total coins, making it a monopoly. Ripple is open-source, which makes it vulnerable to attacks. It’s highly unlikely but still something to consider. Summarizing Thoughts Ripple is one of the biggest names in the cryptocurrency industry. They have a huge market cap and are growing fast. Getting familiar with Ripple and its cryptocurrency, XRP, will surely help you if you’re interested in entering this sector. You can find out more about blockchain technologies in our blog, so be sure to check it out later. As a result, now is the perfect time to dive deeper into the world of Blockchain and understand the finer nuances of how it works. To help you with that, upGrad brings you the Advanced Certificate Program in Blockchain Technology. Offered in collaboration with IIIT-Bangalore, this course starts 30th September 2022 and runs for 7.5 months. So get yourself enrolled and start your Blockchain journey among global peers, industry-leading mentors, and all-around placement assistance. 

by Mayank Sahu

21 Aug 2023

Blogs

6370

How Today’s Large Scale Industries Leverage Blockchain to Scale Their Manufacturing Process As a foundation for distributed ledgers, blockchain is an innovative technology in the current era that is packed with a wide range of use cases. Despite its initial speculations and concerns, industries are starting to adopt blockchain to leverage the technology’s transparency and underlying security. Companies that deal with finance, legal services, design; basically, any businesses that deal with a large volume of transactions on a day-to-day basis are gradually investing in blockchain technology. In this article, we’ll look at some of the instances of how today’s manufacturing firms use blockchain’s potential benefits to support their global supply chain network. Learn Software Engineering Courses online from the World’s top Universities. Earn Executive PG Programs, Advanced Certificate Programs or Masters Programs to fast-track your career. Check out our free courses to get an edge over the competition. Early Stages of Adapting Blockchain Large-scale manufacturing and supply chain is one of the most complex processes to understand from an end-customer perspective. With over billions of new products being manufactured, processed, shipped, and delivered daily, there are a ton of intermediaries that come into the picture, such as retailers, distributors, logistics providers, storage facilities, and so on. In such an ecosystem, keeping track of crucial changes and the order journey becomes tedious and lacks transparency from a supplier/manufacturer’s point-of-view. In early 2008, when blockchain was introduced to the world as an underlying security layer for bitcoin transactions, many industry-leading manufactures and businesses witnessed the endless opportunities this technology could deliver. Check out upGrad’s Full Stack Development Bootcamp (JS/MERN) With that in mind, companies adopted blockchain in different levels of their manufacturing process to keep track of each and every change and provide a layer of transparency to upper management & customers.  Explore Our Software Development Free Courses Fundamentals of Cloud Computing JavaScript Basics from the scratch Data Structures and Algorithms Blockchain Technology React for Beginners Core Java Basics Java Node.js for Beginners Advanced JavaScript Must Read: Blockchain Vs. Data Science: What You Need to Know Blockchain in Manufacturing – Use Cases The following real-time examples should give you a broader understanding of how large-scale industries use blockchain in manufacturing and its different stages. Check out upGrad’s Java Bootcamp.   1. Maintaining Assets in a Large Scale Industry  For example, consider an aircraft manufacturing firm (such as Boeing) that delivers industry-leading aircraft for commercial buyers (i.e., Indigo Airlines). A manufacturing company such a complex and crucial product needs to maintain several technical manuals used by the buyers, technicians for any repairs, operations, and plenty of other intermediaries. Such technical documentation needs to be regularly updated with detailed version history and information regarding who makes the changes and who access them. Not to mention, in most countries, certain aspects of aircraft manufacturing are government regulated, which could also mean that documentations are only accessible to restricted members of the manufacturer and buyer.  2. Document Version Tracking  Infosys is one of the Indian technology services providers who understood these challenges faced by their clients and adapted to blockchain in solving the transparency and trust issues for some of the world’s leading manufacturers. In the previously-stated example, blockchain can come in handy for maintaining several versions of technical publications. Since the blockchain framework is a block-based distributed and indestructible network, even the smallest changes in a document can be tracked and made available to restricted users. The subscribers of that blockchain (i.e., the buyers) can access the relevant information and the documents via predefined tokens, thus securing the framework’s contents from the rest of the population.  When bitcoin was introduced, technology enthusiasts thought blockchain was just a new logic that provided an additional security layer to bitcoin payment transactions. In an article published by the Harvard Business Review in 2017, they mentioned that tech companies such as IBM very soon realized the advent of a wide range of use cases presented by this unique technology. Soon, companies started to experiment blockchain in manufacturing and different aspects of services, such as version control, Internet of Things (IoT), money laundering, and fraud detection in banking & finance, sharing critical information as medical data to patients, and so on.  In-Demand Software Development Skills JavaScript Courses Core Java Courses Data Structures Courses Node.js Courses SQL Courses Full stack development Courses NFT Courses DevOps Courses Big Data Courses React.js Courses Cyber Security Courses Cloud Computing Courses Database Design Courses Python Courses Cryptocurrency Courses Quality Assurance and Warranty Management Blockchain-based solutions can revolutionize quality assurance and warranty management processes in manufacturing. By recording product information, including quality inspections, maintenance records, and warranty details, on an immutable blockchain, manufacturers can streamline warranty claims, reduce fraud, and ensure compliance. Consumers can verify the authenticity of products and access relevant information, enhancing their trust in the manufacturer’s commitment to quality. Factors enabling a company to leverage Blockchain in Manufacturing One common instance that is often overlooked in small-scale or startup manufacturers is how much the various parties that deal with making moving & delivering a product heavily depend on transparency. For instance, as explained earlier in the article, a manufacturing and supply chain process deals with a lot of intermediaries, such as suppliers, packers, and movers, etc. Consider a product certificate, determining the state of quality check done at each hub has gone missing in transit. This might not be a critical issue for that logistics service; however, on a larger scale, the manufacturer and supplier loses credibility in the process. Additionally, there are several negative consequences, especially in the manufacturing industry, such as environmental impact, unethical manufacturing practices that compel transparency between the manufacturer, the customer, and everyone involved in between. An unfortunate example is the 1996 Nike child labour scandal that exposed the company’s unethical practice of employing children in Pakistan’s manufacturing soccer balls. The businesses and customers who depend on these manufacturers should be provided with transparency to understand that the product they use daily is not made by endangering another human being.  Read: Blockchain Project Ideas & Topics Blockchain enabling Manufacturers to gain their customer’s trust There are some areas where blockchain in manufacturing can be of great help in gaining customer’s trust. For example, verifying the integrity claim (such as FSSAI) by manufacturers is often considered an expensive process in large-scale industries and requires proper scrutiny. Companies are manufacturing food products that go through various rounds of quality and integrity check and use blockchain to maintain an identical copy of each node (changes) in the framework. This enables product inspection and auditing in real-time, hence decreasing the time and cost consumed. Such a level of transparency makes network activities and other operations highly visible to the relevant authorities, thus automatically establishing trust.  Asset tracking is one of the other important entities in any manufacturing process. Keeping track of the moving products and their associated components, such as the product’s paperwork can become a tedious nightmare if there is no proper tracking mechanism in place. Manufacturers are starting to use blockchain to keep track of their precious goods and also to avoid shipping illegal or stolen goods as part of their production. Leveraging this technology, the company has created an indestructible sense of ownership as and when the product is made and moved out of the manufacturing warehouse.  Explore our Popular Software Engineering Courses Master of Science in Computer Science from LJMU & IIITB Caltech CTME Cybersecurity Certificate Program Full Stack Development Bootcamp PG Program in Blockchain Executive PG Program in Full Stack Development View All our Courses Below Software Engineering Courses Enhanced Supply Chain Visibility and Traceability Blockchain’s distributed ledger technology enables manufacturers to achieve end-to-end visibility and traceability throughout the supply chain. By recording every transaction and interaction on an immutable blockchain, manufacturers can securely track the movement of raw materials, components, and finished products. This enhanced visibility facilitates proactive quality control, reduces the risk of counterfeit products, and helps identify bottlenecks for improved efficiency. Smart Contracts for Streamlined Operations Smart contracts, self-executing agreements based on predefined conditions, offer significant potential for streamlining manufacturing operations. These contracts can automate processes such as procurement, order fulfillment, and payment settlements, reducing manual errors and enhancing operational efficiency. Manufacturers can leverage smart contracts to establish trust and execute transparent transactions with suppliers, distributors, and customers, resulting in cost savings and accelerated time-to-market. Smart Contracts for Streamlined Operations Smart contracts, self-executing agreements based on predefined conditions, offer significant potential for streamlining manufacturing operations. These contracts can automate processes such as procurement, order fulfillment, and payment settlements, reducing manual errors and enhancing operational efficiency. Manufacturers can leverage smart contracts to establish trust and execute transparent transactions with suppliers, distributors, and customers, resulting in cost savings and accelerated time-to-market. Use of Blockchain in Maintaining Financial Assets Financial entities are another area in manufacturing that requires the lion’s share of manpower and effort. Companies that produce heavy machinery like automobiles, power grids tend to repair their production equipment more often. Since the machines are basically running 24×7, they are susceptible to wear and tear and need to be replaced or repaired for uninterrupted quality production. For instance, in early 2018, Tesla bought millions of dollars worth of AI-based robotic arms for the sole purpose of fast-tracking the electric car manufacturing process and making it available for the end-consumer as soon as possible. Tracking these purchases and investments is a major challenge. Even though companies tend to have a strong finance team that oversees those spendings, it is important to maintain those records. This is an area where blockchain in manufacturing comes into the picture and can be handy in maintaining blocks of information regarding each purchase, accessible by the top management and auditors for industry regulation. Read about: How blockchain changing finance industry Integration with Emerging Technologies By continuously monitoring the performance of machines through IoT sensors, the data can be analyzed by AI and ML algorithms to detect patterns indicating potential malfunctions or breakdowns. This proactive approach allows manufacturers to schedule maintenance activities in advance, minimizing unplanned downtime and maximizing productivity. Integrating blockchain with IoT, AI, and ML in manufacturing means using smart sensors to collect data, storing that data securely on a blockchain, and then letting smart algorithms analyze the data to find ways to improve operations. This combination helps manufacturers make better decisions, optimize the process of production, and ensure that everything runs smoothly. Overall, the integration of blockchain with emerging technologies presents exciting opportunities for the manufacturing industry. It empowers manufacturers with valuable insights, efficient processes, and increased productivity, ultimately leading to better products and happier customers. Collaborative Manufacturing Networks Blockchain in manufacturing industry enables the creation of decentralized, collaborative manufacturing networks. Manufacturers, suppliers, and service providers can securely share data, including designs, specifications, and production schedules, on a blockchain. This collaborative approach fosters real-time communication, facilitates seamless coordination, and promotes innovation among stakeholders. Manufacturers can leverage this network to optimize production capacity, reduce lead times, and explore new business models. Sustainable Supply Chain Management With increasing emphasis on sustainability, blockchain for manufacturing offers manufacturers an effective tool for sustainable supply chain management. By integrating environmental, social, and governance (ESG) data into the blockchain, manufacturers can track and verify sustainable practices at each stage of the supply chain. This transparency helps meet regulatory requirements, enhance brand reputation, and enable consumers to make informed choices based on verifiable sustainability credentials. Opportunities in Blockchain and Manufacturing Blockchain in manufacturing is no longer a new concept since it is already being used to make our day-to-day consuming products. Understanding the technology’s importance and its long term susceptibility, not only manufacturers but most of the companies, large-scale industries with a decently funded R&D department is continuously looking for ways to adopt blockchain into their operations. The scope for this technology will only tend to expand in the forthcoming years since consumers are starting to demand more transparency from the manufacturers.  The adoption of blockchain in manufacturing continues to evolve, offering innovative solutions to address industry challenges and drive operational excellence. From supply chain visibility and traceability to streamlined operations through smart contracts, blockchain provides a foundation for secure, transparent, and efficient manufacturing processes. Now is the perfect time to dive deeper into the world of Blockchain and understand the finer nuances of how it works. To help you with that, upGrad brings you the Advanced Certificate Program in Blockchain Technology. Offered in collaboration with IIIT-Bangalore. So get yourself enrolled and start your Blockchain journey among global peers, industry-leading mentors, and all-around placement assistance. 

by Mayank Sahu

26 Jun 2023