- 1 Digital Leadership Series
- 2 What Is Blockchain?
- 3 Blockchain Technology
- 4 Blockchain Career Demand
- 5 Blockchain Manager Salary
- 6 Blockchain Manager Job Description
- 7 Blockchain Startups Disrupting Non-financial Markets
- 8 Blockchain Info
- 9 Blockchain Wiki
- 9.1 Address
- 9.2 Agreement Ledger
- 9.3 Attestation Ledger
- 9.4 ASIC
- 9.5 Bitcoin (uppercase)
- 9.6 bitcoin (lowercase)
- 9.7 Blockchain
- 9.8 Block Height
- 9.9 Block Reward
- 9.10 Central Ledger
- 9.11 Confirmation
- 9.12 Consensus Process
- 9.13 Consensus Point
- 9.14 Cryptocurrency
- 9.15 Digital Commodity
- 9.16 Digital Identity
- 9.17 Distributed Ledger
- 9.18 Difficulty
- 9.19 Double Spend
- 9.20 Genesis Block
- 9.21 Halving
- 9.22 Hashrate
- 9.23 Ledger
- 9.24 Litecoin
- 9.25 Mining
- 9.26 Multi Signature
- 9.27 Off-Ledger Currency
- 9.28 On-Ledger Currency
- 9.29 P2P
- 9.30 Participant
- 9.31 Peer
- 9.32 Permissioned Ledger
- 9.33 Private Currency
- 9.34 Private Key
- 9.35 Proof-of-Stake
- 9.36 Proof-of-Work
- 9.37 Ripple
- 9.38 Replicated Ledger
- 9.39 Scrypt
- 9.40 SHA 256
- 9.41 Smart Contracts
- 9.42 Tokenless Ledger
- 9.43 Transaction Block
- 9.44 Transaction Fee
- 9.45 Unpermissioned Ledgers
Digital Leadership Series
Welcome to the Digital Leadership Series. This Blockchain career insight guide is part of the Digital Leadership Series written by Angel Berniz. Following you can find all the Digital Leadership Series guides available:
- Big Data
- Internet of Things
- Industry 4.0
- Scaled Agile
- Machine Learning
- Lean Startup
- Design Thinking
CALL FOR LESSONS LEARNED TIPS by Pros, for writing 10 new books. The challenge is the following:
- If you are a Pro in one of these 10 areas, please contribute with one Lesson Learned tip that you would love someone else had taught you when you started. I mean a 1-page project management tip on Robotics, Big Data, Blockchain, etc.
- You can also help me with this challenge by sharing to your friends, colleagues, Twitter followers, Facebook friends, and LinkedIn connections, asking them for Pros to contribute one tip to be included in these books.
All contributors will be mentioned in the book and gain career exposure!
Send your contributions to [email protected]
Please, share this guide in your Social Media so that others can also benefit from it. Share you comments!
What Is Blockchain?
So, what is blockchain? A block chain is a transaction database shared by all nodes taking part in a method in line with the Bitcoin protocol. A complete copy of the currency’s block chain contains every transaction ever performed within the currency. With this particular information, one will discover out just how much value belonged to every address at any time ever.
Every block includes a hash from the previous block. It has the result of making a series of blocks in the genesis block to the present block. Each block is certain to come following the previous block chronologically since the previous block’s hash would certainly ‘t be known. Each block can also be computationally impractical to change once it has developed in the chain for some time because every block after it might also need to be regenerated. These qualities of what is blockchain are what make double-spending of bitcoins very hard. The block chain may be the primary innovation of Bitcoin.
Honest generators only build onto a block (by referencing it in blocks they’ve created) if it’s the most recent block within the longest valid chain. “Length” is calculated as total combined impossibility of that chain, not quantity of blocks, though this distinction is just important poor a couple of potential attacks. A series applies if all the blocks and transactions there are valid, and just if it comes down to the genesis block.
For just about any block around the chain, there’s just one road to the genesis block. From the genesis block, however, there might be forks. One-block forks are produced every so often when two blocks are produced only a couple of seconds apart. When that occurs, generating nodes build onto whichever among the blocks they received first. Whichever block winds up being incorporated within the next block becomes area of the primary chain because that chain is longer. More severe forks have happened after fixing bugs that needed backward-incompatible changes.
Blocks in shorter chains (or invalid chains) aren’t employed for anything. Once the bitcoin client switches to a different, longer chain, all valid transactions from the blocks within the shorter chain are re-put into the swimming pool of queued transactions and will also be incorporated in another block. The reward for that blocks around the shorter chain won’t be contained in a long chain, so they’ll be practically lost, and that’s why a network-enforced 100-block maturation here we are at generations exists.
These blocks around the shorter chains are frequently known as “orphan” blocks. It is because the generation transactions don’t have a parent or gaurdian block within the longest chain, so these generation transactions appear as orphan within the listtransactions RPC call. Several pools have misinterpreted these messages and began calling their blocks “orphans”. The truth is, these blocks possess a parent block, and can have children.
Because a block can only reference one previous block, it is impossible for two forked chains to merge.
It’s possible to use the block chain algorithm for non-financial purposes.
Blockchain Career Demand
The demand of the Blockchain career is very high, with exponential increase (according to IT Jobs Watch):
Blockchain Manager Salary
The salary of blockchain is high because there lack of professionals in this field:
Blockchain Manager Job Description
The following Blockchain Manager job description for an employment opportunity was published at Linkedin by KPMG:
- Engaged in the design and R&D of blockchain products. Research blockchain protocol, operating mechanism and the underlying implementation and so on is a must
- Based on the Ethereum or other platform to build the upper application system
- Organize the formulation and implementation of technical decisions and technical solutions, organizational structure design and upgrade optimization
- Guide the project team members of the daily development work and solve the technical problems in the development.
- Bachelor degree or above in software engineering or computer science related major. 3+ years working experience in development
- Familiar with Linux, proficient in JS / java, and also have blockchain project development experience
- Master the principle, mechanism and related encryption algorithm of Ethereum / bitcoin / block chain is preferred
- Familiar with all kinds of application based on block chain and have researched the block chain application scenarios
- Good team work spirit and execution with strong analysis and problem solving ability
- We offer successful candidates an attractive remuneration package and the opportunity to work in a dynamic and exciting environment.
Personal data collected will be used for recruitment purposes only.
Blockchain Startups Disrupting Non-financial Markets
There are also a increasing number of new companies around blockchain also outside the non-financial market.
In this digital transformation scenario, the media industry will once again be surprised by a new technological innovation, in this case Blockchain. Currently there are platforms like Steemit, which rewards users who publish content with steems, which can be exchanged for bitcoins inside the platform. Similarly, users must also pay to access the content.
Another similar support is DECENT. This website, which is defined on its page as a decentralized content distributor, is aimed at journalists or bloggers who want to publish their content without censorship. As in Steemit, authors are also paid without intermediaries.
In the field of audiovisual media SingularDTV stands out, a platform of digital content based on blockchain and built on the network Ethereum. Like Steemit and DECENT, it also uses a cryptoneon to pay artists and creators.
The Blockchain.info, a bitcoin e-wallet and block explorer service, was launched in summer of 2011. This service includes all blockchain info such as: recent recent transactions, mined blocks within the bitcoin blockchain, charts around the bitcoin economy, and statistics and sources for developers.
Information from and links towards the website are typical on television coverage as well as in bitcoin forums. The Blockchain.info mobile application for Android enables users to safely receive and send bitcoins and study blockchain information. In December 2013, the organization acquired ZeroBlock LLC, makers from the leading mobile bitcoin application.
Blockchain.info was the earth’s favorite bitcoin website in 2013, with more than 118 million page views and also over 3 million unique tourists in November 2013, as well as in The month of january 2014 Blockchain.info arrived at a million user wallets.
In Feb 2014, Apple Corporation. removed the Blockchain application in the iOS Application Store, prompting a harsh response from Blockchain and public outcry within the bitcoin community, most particularly inside the Reddit community. In This summer 2014, Apple reinstated the Blockchain application into the iOS Application Store.
In October 2014, Blockchain.info closed a $30.5m fundraiser round from Lightspeed Venture Partners and Mosaic Ventures, that was the greatest round of financing within the digital currency sector in those days.
In December 2014, Blockchain.info grew to become among the first prominent Bitcoin wallets to provide a dedicated hidden service around the Tor network, for users who would like to conduct Bitcoin transactions with greater privacy and lesser 3rd party surveillance, in addition to provide finish-to-finish file encryption for Tor users who have been formerly susceptible to malicious exit nodes sniffing their keys and stealing their Bitcoins.
At the begining of 2015, the organization passed 3 million wallets produced utilizing their services.
In August 2015, Blockchain.info’s Chief executive officer Peter Cruz was asked to accompany then United kingdom Pm David Cameron on the tour throughout southeast Asia to interact with local representatives concerning the UK’s leading role like a global fintech hub.
And in August 2015, Blockchain.info passed 4 million wallets produced utilizing their services.
In May 2016, Blockchain.info announced Thunder, which states be an implementation from the Lightning Network.
Transaction volume had exceeded 100 million by August, 2016.
Following you can find a blockchain wiki with the most relevant terms:
Addresses (Cryptocurrency addresses) are used to receive and send transactions on the network. An address is a string of alphanumeric characters, but can also be represented as a scannable QR code.
Agreement ledger is a distributed ledger used by two or more parties to negotiate and reach agreement.
Attestation Ledger is a distributed ledger providing a durable record of agreements, commitments or statements, providing evidence (attestation) that these agreements, commitments or statements were made.
ASIC is an acronym for “Application Specific Integrated Circuit”. ASICs are silicon chips specifically designed to do a single task. In the case of bitcoin, they are designed to process SHA-256 hashing problems to mine new bitcoins.
Bitcoin (in uppercase) is the well known cryptocurrency, based on the proof-of-work blockchain.
bitcoin (in lowercase) is the specific collection of technologies used by Bitcoin’s ledger, a particular solution. Note that the currency is itself one of these technologies, as it provides the miners with the incentive to mine.
Blockchain is a type of distributed ledger, comprised of unchangable, digitally recorded data in packages called blocks (rather like collating them on to a single sheet of paper). Each block is then ‘chained’ to the next block, using a cryptographic signature. This allows block chains to be used like a ledger, which can be shared and accessed by anyone with the appropriate permissions.
Block height refers to the number of blocks connected together in the block chain. For example, Height 0, would be the very first block, which is also called the Genesis Block.
Block reward is the reward given to a miner which has successfully hashed a transaction block. Block rewards can be a mixture of coins and transaction fees, depending on the policy used by the cryptocurrency in question, and whether all of the coins have already been successfully mined. The current block reward for the Bitcoin network is 25 bitcoins for each block.
Central ledger refers to a ledger maintained by a central agency.
Confirmation means that the blockchain transaction has been verified by the network. This happens through a process known as mining, in a proof-of-work system (e.g. Bitcoin). Once a transaction is confirmed, it cannot be reversed or double spent. The more confirmations a transaction has, the harder it becomes to perform a double spend attack.
Consensus Process is the process of a group of peers responsible for maintaining a distributed ledger use to reach consensus on the ledger’s contents.
Consensus Point is – either in time, or defined in terms of a set number or volume of records to be added to the ledger – where peers meet to agree the state of the ledger.
Cryptocurrency is a form of digital currency based on mathematics, where encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds. Furthermore, cryptocurrencies operate independently of a central bank.
Digital Commodity is a scarce, electronically transferrable, intangible, with a market value.
Digital identity is an online or networked identity adopted or claimed in cyberspace by an individual, organization, or electronic device.
Distributed Ledgers are a type of database that are spread across multiple sites, countries or institutions. Records are stored one after the other in a continuous ledger. Distributed ledger data can be either “permissioned” or “unpermissioned” to control who can view it.
Difficulty, in Proof-of-Work mining, is how hard it is to verify blocks in a blockchain network. In the Bitcoin network, the difficulty of mining adjusts verifying blocks every 2016 blocks. This is to keep block verification time at ten minutes.
Double Spend refers to a scenario, in the Bitcoin network, where someone tries to send a bitcoin transaction to two different recipients at the same time. However, once a bitcoin transaction is confirmed, it makes it nearly impossible to double spend it. The more confirmations that a particular transaction has, the harder it becomes to double spend the bitcoins.
Genesis Block is the very first block in a block chain.
Bitcoins have a finite supply, which makes them a scarce digital commodity. The total amount of bitcoins that will ever be issued is 21 million. The number of bitcoins generated per block is decreased 50% every four years. This is called “halving.” The final halving will take place in the year 2140.
Harshrate is the number of hashes that can be performed by a bitcoin miner in a given period of time (usually a second).
Ledger is an append-only record store, where records are immutable and may hold more general information than financial records.
Litecoin is a peer-to-peer cryptocurrency based on the Scrypt proof-of-work network. Sometimes referred to as the silver of bitcoin’s gold.
Minis is the process by which transactions are verified and added to a blockchain. This process of solving cryptographic problems using computing hardware also triggers the release of cryptocurrencies.
Multi-Signature (multisig) addresses allow multiple parties to require more than one key to authorize a transaction. The needed number of signatures is agreed at the creation of the address. Multi signature addresses have a much greater resistance to theft.
Off-Ledger Currency is a a currency minted off-ledger and used on-ledger. An example of this would be using distributed ledgers to manage a national currency.
On-Ledger Currency is a currency minted on-ledger and used on-ledger. An example of this would be the cryptocurrency, Bitcoin.
Peer-to-peer (P2P) refers to the decentralized interactions that happen between at least two parties in a highly interconnected network. P2P participants deal directly with each other through a single mediation point.
Participant is an actor who can access the ledger: read records or add records to.
Peer is an actor that shares responsibility for maintaining the identity and integrity of the ledger.
Permissioned ledger is a ledger where actors must have permission to access the ledger. Permissioned ledgers may have one or many owners. When a new record is added, the ledger’s integrity is checked by a limited consensus process. This is carried out by trusted actors — government departments or banks, for example — which makes maintaining a shared record much simpler that the consensus process used by unpermissioned ledgers. Permissioned block chains provide highly-verifiable data sets because the consensus process creates a digital signature, which can be seen by all parties. A permissioned ledger is usually faster than an unpermissioned ledger.
Private currency is a currency issued by a private individual or firm, typically secured against uninsured assets.
Private key is a string of data that shows you have access to bitcoins in a specific wallet. Private keys can be thought of as a password; private keys must never be revealed to anyone but you, as they allow you to spend the bitcoins from your bitcoin wallet through a cryptographic signature.
Proof-of-stake is an alternative to the proof-of-work system, in which your existing stake in a cryptocurrency (the amount of that currency that you hold) is used to calculate the amount of that currency that you can mine.
Proof-of-Work is a system that ties mining capability to computational power. Blocks must be hashed, which is in itself an easy computational process, but an additional variable is added to the hashing process to make it more difficult. When a block is successfully hashed, the hashing must have taken some time and computational effort. Thus, a hashed block is considered proof of work.
Ripple is a payment network built on distributed ledgers that can be used to transfer any currency. The network consists of payment nodes and gateways operated by authorities. Payments are made using a series of IOUs, and the network is based on trust relationships.
Replicated Ledger is a ledger with one master (authoritative) copy of the data, and many slave (non-authoritative) copies.
Scrypt is an alternative proof of work system to SHA-256, designed to be particularly friendly to CPU and GPU miners, while offering little advantage to ASIC miners.
SHA 256 is the cryptographic function used as the basis for bitcoin’s proof of work system.
Smart Contracts are contracts whose terms are recorded in a computer language instead of legal language. Smart contracts can be automatically executed by a computing system, such as a suitable distributed ledger system.
Tokenless Ledger refers to a distributed ledger that doesn’t require a native currency to operate.
Transaction Blocks is a collection of transactions on the bitcoin network, gathered into a block that can then be hashed and added to the blockchain.
Transaction Fee is a small fee imposed on some transactions sent across the bitcoin network. The transaction fee is awarded to the miner that successfully hashes the block containing the relevant transaction.
Unpermissioned Ledgers such as Bitcoin have no single owner — indeed, they cannot be owned. The purpose of an unpermissioned ledger is to allow anyone to contribute data to the ledger and for everyone in possession of the ledger to have identical copies. This creates censorship resistance, which means that no actor can prevent a transaction from being added to the ledger. Participants maintain the integrity of the ledger by reaching a consensus about its state.
Please, share this guide in your Social Media so that others can also benefit from it. Share you comments!