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Blockchain is still a nascent technology. Despite just being around for more than a decade, blockchain technology has already made significant strides and given rise to transformative innovations, including cryptocurrencies and NFTs, which continue to experience remarkable growth. Demand for skills and expertise is needed, now more than ever, and in more fields than just programming.
The first and most obvious way to begin a career in the industry is to be a developer, which entails becoming a full-stack developer. This means a proper understanding of the end -to-end process of blockchain networks and transactions, familiarity, fluency, and experience with relvant programming languages like C++, Python, and Javascript.
Core blockchain developers are the backbone of the network. They have comprehensive knowledge of how the blockchain network layers work and interact with each other, as we have been discussing in this course, since they are the ones in charge of developing the architecture of the blockchain itself. Following the growth of blockchain technology, the demand for blockchain engineers has also been rapidly growing as a response to more and more blockchain networks being built.
As we begin to see more regulation in the space, an increasing need for legal counsel arises. Lawyers who also have a good grasp of international law and blockchain processes are able to provide greater guidance to companies and should be able to review legal documents as well as draft legal arrangements.
Testing and examining quality standards is the job of a quality engineer. They ensure the reliability, security, and efficiency of blockchain systems and applications. Their primary responsibility is to assess and maintain the overall quality of blockchain-based projects to ensure they meet the highest standards and deliver value to users.The planning, quality assurance, and delivery of challenging blockchain projects are all part of this vocation. They are also responsible for ensuring that all QA standards are upheld.
Risk management is a standard that must be upheld in any industry, not to mention blockchain. Risk managers are liable for risk identification, risk assessment, risk mitigation, programming assistance, product improvement, and information analytics. Some of the tasks a blockchain risk manager does is vulnerability assessment, performance testing, security audits and code review.
Outside the field of blockchain specialists, there are still more opportunities left for experts who want to contribute and build in the space through their own different means of doing so. These roles are:
A combination of the words developer and operations, DevOps engineers are tasked to take charge of the development cycle - from initial development, testing, and operations leading up to security, ensuring a seamless integration of all these aspects throughout the process..
Smart contracts are still a new technology that is just beginning to bloom. Whereas everyone in the blockchain space is concerned about code, DevOps are essential for creating tools and platforms that make the experience of using blockchain solutions more painless and easy to use. In a blockchain network that is open 24/7, the need for DevOps engineers is high.
Blockchain is a hard concept to understand as it is and visually communicating it is even harder. This task is the job of blockchain UX designers. They have to make a user interface that is appealing but still captures the relevant aspects of the blockchain project that must be shown to users.
A front-end developer is the one in charge of writing code to create features for users to interact with. They are responsible for the functionality of a platform. The difference between a front-end developer and a UI/UX designer is that developers are usually in charge of coding whereas designers are in charge of visual design and user experience.
From project management to product management, managers with technical knowledge of the blockchain are essential to blockchain projects as they implement strategies in planning, leading, organizing and controlling. They are the problem-solvers outside of codes.
Writers, analysts and journalists fall into this category. Researchers are relevant for breaking down blockchain concepts and processes into digestible information. They have to be up-to-date with the latest news and happenings in the blockchain space. Communication skills are needed just as much as soft skills.
Marketers in the blockchain space are usually community managers as well. They interact with clients as well as with individual users of the project. They are also responsible for developing marketing strategies for growing the blockchain’s user network.
Community moderators are the liaison between the technical back office guys and the general public users. While developers and founders are busy behind the scenes building solutions and platforms, it’s up to the community moderators’ creativity and enthusiasm to effectively communicate with the community about the project’s recent developments, while keeping them engaged at the same time.
The future of L1s is not limited to just a bigger future for cryptocurrencies, but a bigger future for the world and our current systems.
Improving current systems
Current layer 1 blockchains are poised to be further developed based on Bitcoin and Ethereum’s protocols.
This can be seen through the increasing compatibility of other blockchains, such as the Binance Smart Chain and Cardano blockchain with the Ethereum Virtual Machine (EVM), a software platform that allows developers to create smart contracts and DApps in Solidity (a programming language) thereby enabling interoperability, while simultaneously adding their own “twist” in order to scale better.
The scaling issue has to be addressed as well in order for cryptocurrency to be better adopted by others, and we need to find a way to increase the attractiveness of dApps so that they may be able to properly compete against centralized platforms.
Solving the blockchain trilemma
Blockchain innovation will eventually bring forward a solution to the blockchain trilemma. This means that we can expect future blockchains to be scalable, decentralized and have high security all at the same time instead of just two of these being present. Existing blockchains are already implementing their own solutions to the trilemma in the form of consensus mechanisms with PoA and PoH as presumed improvements from PoS, and sharding for efficient processing of data. In the ever-evolving blockchain space newer systems and solutions are bound to appear that will lead to more innovation in the blockchain space.
Increasingly automatic
Blockchain technology supports automation. Decentralized finance (DeFi) is already giving us a glimpse of what the future of finance may look like. Through the use of smart contracts and decentralized applications, financial transactions can be made automatically without the help of a third party. As smart contracts become more mainstream, they will begin to encroach upon different industries to improve current systems potentially.
Different fields
Application of blockchain technology not only applies to cryptocurrencies but also to finance, real estate, trade, healthcare, and voting. Financial payment systems and insurance claims can be simplified and have risk significantly reduced through blockchain technology, allowing more resources for other operations such as making new investment products. By digitizing and using blockchain technology for title issuance and title transfers for real estate, ownership becomes more determinable. International trade can also benefit from blockchain technology through smart contracts by having their supply chain processes simplified without having to worry about auditing and the authenticity of goods. Lastly, the healthcare sector will be able to better manage important medical records and data better with different stakeholders and medical professionals by storing these records via blockchain technnology.
Using blockchain technology can significantly reduce the costs for record storing, intermediation, and manpower, all the while speeding up processes and enhancing security.
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