Guys, This post is dedicated to those who want to be a Cryptocurrency blockchain developer or already started his career in blockchain industry.
Considering as a newbie in blockchain technology, before dive deep into the blockchain technology, I want to describe the term is short,
What is Blockchain?
and of course, how it is related to Cryptocurrency like Bitcoin etc?
Blockchain is a decentralized database of network build with anonymous computers distributed around the world. This kind of database is saved on all the computers connected to the respected blockchain network.
Because blockchain network is decentralized means the data is shared with all the computers connected to the network, this is the primary reason that nobody can break or hack a network build with blockchain.
Blockchain is first introduced in 2008 with the birth of Bitcoin by its inventor Satoshi Nakamoto who is also called the father of bitcoin.
To better understand the blockchain technology we can take an example of google docs. Although, Google docs is not created using blockchain technology it works something like blockchain.
In google docs, the document is created on the server and anybody who knows the email ID and password can access and make changes to this document.
In blockchain the same data is stored in several local computers and also in servers in an encrypted format and when someone makes changes to this data that particular data changes in all the resources (servers and computers).
Bitcoin and other cryptocurrencies are stored in all the related resources equally. When the transaction is done (means someone buys or sells those currencies), the data is updated immediately on all the resources.
Is Cryptocurrency Secure?
They are more secure than your money in banks. Nobody can hack those currencies because of two reasons.
As the currencies are stores in several places at the same time, if someone reaches and hacks the data from a computer or server joined to this chained system the data still remain intact on all the other resources. There is no one place (like traditional bank lockers) where you could manipulate the data and steal those currencies.
This is the strong reason why your digital currency is more secure than your traditional currency.
The currencies are encrypted with “impossible to manipulate” codes and no one can crack this encryption. So from the coding point of view, it is also secure currency.
Above two reasons are enough to get the attention of the public to this type of currency and this is the main reason why cryptocurrency is taking the market in past years.
Although, if you lose the password you will be a poor man immediately because when hackers are not able to crack the password of cryptocurrency than who are you.
One more thing, if someone knows your transactional password which is in the form of long code, they can easily steal your digital coins making your pocket empty. So it’s your responsibility to keep secure the transactional passwords of your coins.
Cryptocurrency Blockchain: The future
This topic is divided into two points. Future of Cryptocurrency and Future of blockchain technology.
First, we will discuss Cryptocurrencies future.
The future of trade is in Cryptocurrency. It’s becoming widely popular with time. After introduced in 2008 the popularity of Cryptocurrency is continuously increased.
And if you want to be sure just go to BuzzFeed and search for Cryptocurrency. You will see how much popular it in social media. Not only social media it is equally a popular term in other media like news and Google search.
If you open Google trends and search for a query “Cryptocurrency” you will see that the trend is in increasing slope.
So, no doubt that Cryptocurrency will be our future currency. It is acquiring the online market as well as the offline market rapidly replacing the traditional currency.
Do you know? When I am typing this article, what is the current price of Bitcoin?
9104.58 US Dollar
Crypto coins are as popular as they are now used by many online e-commerce platforms to do transactions.
There are two reasons behind its huge popularity.
- Blockchain technique gives it an added security (Breaking its codes is impossible).
- It’s handier than other traditional currencies. Unlike traditional currencies, no one can rob or pickpocket those digital currencies. They are safe.
Now come to Blockchain technology.
Blockchain is a server related technology which is now widely used by many server owners and website owners. As it is very secure due to its decentralization technique, many financial and other firms are now using it to secure their data.
From the birth of the Internet, hackers are the big enemy of the Internet and the result is less secure data. After the boom of the Internet, we all became online. Our all potential data is now online. But if I frankly say, there is no data in the traditional server which is called to be secure and unbreakable.
With internet security hackers are also becoming smart and find new ways to hack servers.
The only way to stop them is implementing Blockchain technology. I will never say that hackers won’t break Blockchain but near future, it’s probably not possible.
Blockchain is the future of online security and we have to adopt this technology widely to stop Internet crime.
5 Essential tools For Cryptocurrency trading
Crpytowatch is a tool with which you can watch the current market price of all the Digital currencies.
It also gives you the detailed analysis of currencies. Like the past rates of the currency and also the future predictions. This tool is very helpful if you want to start a trade on Cryptocurrency. You will get a brief analysis of a currency before buying and selling them.
Today trading in Cryptocurrencies is becoming quite popular and the exchange rate is becoming very high within a short period of time.
If you want to be a full-time Cryptocurrency trader you should you Cryptowatch to keep an eye on the market.
CoinGecko is an another Cryptocurrency market chart app. It is quite similar to Cryptowatch. You can watch the current market price and exchange rates of digital currencies and also watch the future predictions how a particular currency behave in future. There are several tools in this app which will help you to choose the best trade in the digital currency market.
It offers you developer tools and API related to Bitcoin. You can update Bitcoin ledger with this Blockchain developer tool. Tierion tool creates a verifiable database to update any data related to Bitcoin Blockchain.
It has also developed chain point an open standard data recording tool which records generates receipts containing all the information needed to verify the data.
#4 Coinbase’s API
It is a very useful tool for Bitcoin Blockchain developers as with is developers easily create Bitcoin apps and also add bitcoin in already created systems.
With Coinbase API also create Bitcoin wallets, buy and sell Bitcoins and also send and receive them worldwide. They offer several client libraries and mobile SDK which are quite useful for Blockchain developers.
It gives us a capability to create read-only data and many more Blockchain functions.
Just try out to experience more.
It is another interesting and useful tool. A developer can use it to develop Ethereum dapps. It can easily develop and deploy dapps or serverless HTML 5 apps with amazing decentralized technology. With Embark you can create Smart contracts in JS coding format which is quite secure.
If you update your created contracts this tool will modify and update it’s related dapps too.
It is very helpful to create a decentralized network.
Blockchain technology is a fast-growing technology and I think it will cover all the Internet in coming 10 years. So you have to be familiar with this technology to survive in the future world.
This is the main reason why I have introduced you to above 5 Cryptocurrency Blockchain tools.
If this article helped you to gain some understanding of Bitcoin Blockchain technology then share this article with your friends and help them to understand Blockchain technology.