Blockchain Course
What is Blockchain?
Blockchain is a shared, immutable log that facilitates the process of recording transactions and tracking assets in a business network. An asset can be tangible (a car, cash, or property) or intangible (patents, copyrights, or intellectual property). Anything of some value can be tracked and traded on a blockchain network which reduces risk and is cost-efficient.
It is a distributed database that is divided among many nodes of a large computer network. As blockchain is a database, it sores the information virtually in digital format.
Blockchain is famous for its important role in cryptocurrency systems like Bitcoin. It maintains and keeps all the transactions secure and decentralized the electronic record. Blockchain technology brings innovation in the field of databases. It assures the security of every record of data and generates trust without bringing any third party.
Why blockchain is essential?
Every business runs on information and data. It will be better if that information is received quickly and accurately. The best way is using blockchain which is ideal; for transferring that information because
it provides quick, shared and completely transparent information which stores on the inflexible ledger. This ledger can only be accessed by approved network members.
A blockchain database network can track information about orders, accounts, production, payment, and much more. As you can see all details of transactions and other crucial pieces of information, provide you with great confidence, strategies, and opportunities.
Key elements that constitute blockchain:
Distributed ledger technology All network members can access the ledger and its unchangeable transaction records and information. It can stave off the efforts you have to put into the process of replication of data which is the typical mechanism of traditional business networks.
Immutable records No member can change or interfere with the transaction once it is been recorded to the shared record. If there is an error present in the transaction record, you have to file another new transaction to reverse the error.
Smart contracts A smart contract (set of rules) is used to speed transactions and stored on the blockchain system. It is executed automatically. A smart contract is a set of terms and conditions for bond transfers and surety to be paid and much more.
Work mechanism of Blockchain:
Blocks of data- Once you add a new transaction, this stores in different blocks before it is approved by the system. It may be tangible or intangible. This data block also stores information of your choice like who, when, what, where, how much and even the conditions such as the temperature of food store-room.
Connections between blocks- All data storage blocks are interconnected and form a chain of data as assets move from one point to another. The chain of blocks confirms and automatically proceeds transactions in a sequence at the exact time. These blocks link together very securely so that no change or alteration of any block occurs or a new block inserts between two existing blocks.
Irreversible chain- When any new block adds to the chain, it strengthens the previous block resulting in the empowerment of the entire blockchain. These blocks are taper-evident and consist of unchangeable information.
Benefits of blockchain:
Greater trust- With blockchain, you are assured that the information which you are receiving is accurate and timely data and that your confidential blockchain records will be shared only with network members.
Immutable process- All transactions are immutable and permanent. Data and information is secured in blockchain and any transaction can not be deleted in any way whether a system administrator tries to alter the details.
Automation in the process- According to a report, more than 10% of freight invoices are not valid and contain inaccurate information. All these inaccuracies lead to trust issues and miscommunications and make those traditional supply chains and management systems inefficient.
But the modern database system, Blockchain automatically creates product activities in the whole supply chain. After the addition of every new product, blockchain automatically records every information and detail significantly and accurately. This automation eliminates human errors in the management process.
International supply chain compatibility- Global supply chain is expanding continuously and all the raw materials and finished products require third-party hands more than before. Blockchain provides real-time updates about every piece of information to secure the transfer of products from one party to another.
Traceability- Blockchain provides an accurately traceable electronic record. It is very easy to locate the point of error origin if any issue occurs throughout the global supply chain.
Types of blockchain networks:
There are many ways to create a powerful blockchain network. Some types are listed following:
Public blockchain network- Such blockchain is one that anyone can join and take a part in it. Bitcoin and Ethereum are the best examples of public blockchain networks. This type of blockchain network has little or no privacy and weak security.
Private blockchain networks- A Blockchain network in which one organization can control the entry of any member. This develops trust and confidence between participants.
Permissioned blockchain network- This is a private blockchain which will be a permissioned blockchain network.
Consortium blockchain- Multiple organize handle and maintain a blockchain. It is ideal for a business when all members share the responsibility for blockchain maintenance.
What is Bitcoin?
Bitcoin is a decentralized digital currency without any type of bank foundation and can be sent from one user to another without the need for intermediaries. Transactions are very secure and recorded by blockchain. It was invented by an unknown person. The price of 1 bitcoin is $45,566.40.
What is Ethereum?
Ethereum is also a cryptocurrency that is an open-source blockchain with smart contract functionality. It was invented by programmer Vitalik butter in 2013. The price of one Ethereum is $3,237.39.
What does this course offer you?
Brainmeasures Blockchain certification course offers you a high-end blockchain training course prepared by well-experienced and well-qualified experts. This course provides in-depth content about various Blockchain platforms including Bitcoin, Ethereum, Hyper-Ledger, and Multi-chain.
You will get expert training in modern Blockchain tools like Ganache, Truffle, Meta Mask, and Geth which enable students to develop various Blockchain applications.
Topics of course content:
This course covers every detail of the Blockchain system. Following topics will be studied in this course:
Blockchain for business- An introduction.
The rise of a new industry- Cryptocurrency.
The rationale behind cryptocurrencies.
Bitcoin is where it all started.
Bitcoin's five forces.
Blockchain 2.0 - Ethereum.
Industrial applications of Blockchain.
Blockchain and the Financial sector.
Blockchain and the Consumer goods sector.
Blockchain and the global tech giants.
A look into the future of Blockchain technology.
For whom this course is?
This course is ideal for students, Project managers, Technology Support Professionals, Product managers, technology or Solution Architects, Software Developers, and many more.
This course will provide you with beneficial results. At the end, of the course, you will be awarded a certificate after a test. You can add this certificate to your CV which will empower and boost your career.
Prior skills
Prior knowledge of technologies like Linux, JavaScript, Node.js, and others would be an added advantage for those who are planning to start a professional career in Blockchain.
A blockchain developer earns from $90,000 to $120,000 annually. So what are you waiting for, enroll in this course?
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