What If I Have to Restart Learning Blockchain Development in 2024-2025 ❓
Summary
TLDRThis video script delves into the essentials of decentralized finance, emphasizing the importance of understanding blockchain, smart contracts, and Ethereum for aspiring developers. It highlights the potential of blockchain to empower individuals by reducing reliance on centralized authorities, exemplified by a smart contract solution for farmers. The script also covers the necessity of mastering various tools, backend knowledge, and frameworks for building decentralized applications (dApps), and encourages viewers to explore and build projects to solidify their grasp on the technology.
Takeaways
- 📘 Blockchain is a fundamental topic for anyone interested in decentralized finance and building projects like UniSoft Globe, as it underpins decentralized exchanges and offers individual empowerment through direct transactions without intermediaries.
- 🔒 Beyond cryptocurrency, blockchain offers the potential to build large, scalable applications and financial products, facilitating secure and direct financial transactions across borders.
- 🌐 The power of blockchain lies in its ability to eliminate centralized authorities, allowing individuals to communicate and transact directly with others globally, reducing costs and eliminating intermediaries.
- 📝 Learning about blockchain is crucial, and candidates should prepare by taking notes, understanding its concept, and being able to provide examples during interviews.
- 🤖 Smart contracts are a key component of blockchain technology, enabling the execution of programmable transactions and opening up new possibilities for developers to create applications.
- 🌾 An example of a real-world application of smart contracts is in the farming industry, where they can be used to automatically transfer funds to farmers in case of poor weather conditions, bypassing intermediaries and ensuring support.
- 💎 Ethereum is highlighted as a significant blockchain platform due to its introduction of smart contracts, which have expanded the capabilities of blockchain beyond simple transactions.
- 🛠️ Developers need to familiarize themselves with various tools and frameworks for blockchain development, including backend options and frontend security considerations.
- 🔌 External providers like Infura are essential for communicating with different blockchains and utilizing services like IPFS for decentralized data storage.
- 🔑 Understanding data distribution and storage within smart contracts and DApps is vital for efficient and secure application development on the blockchain.
- 🚀 Keeping up with the latest updates and the future of Ethereum is important, as it affects the speed and efficiency of transactions and the overall ecosystem.
- 🏦 DeFi (Decentralized Finance) is a growing field where blockchain technology can be applied to create financial products that operate without third-party authorities, offering direct and immediate transactions.
Q & A
What is the primary focus of the video script?
-The video script focuses on the importance of understanding decentralized finance (DeFi), blockchain technology, smart contracts, and related topics for those interested in building projects on various exchange platforms.
Why is blockchain knowledge crucial for job interviews in the DeFi space?
-Blockchain knowledge is crucial because decentralized exchanges operate on specific protocols and tools, and interviewers will heavily question candidates on their understanding of these technologies.
What misconception does the speaker address about blockchain?
-The speaker addresses the misconception that blockchain is only about cryptocurrency trading and buying coins, emphasizing that it has many more applications, such as building scalable applications and facilitating financial transactions.
How does blockchain technology empower individuals in financial transactions?
-Blockchain technology empowers individuals by allowing them to perform transactions directly with others without intermediaries, reducing costs and increasing speed, especially for cross-border transactions.
What is a smart contract and why is it significant in blockchain technology?
-A smart contract is a self-executing contract with the terms of the agreement directly written into code. It is significant because it enables developers to build applications that can perform actions and transactions automatically on the blockchain.
Can you provide an example of how smart contracts can be used to solve real-world problems?
-The script provides an example of using smart contracts to support farmers in India by automatically transferring funds to them when weather conditions negatively affect their crops, bypassing intermediaries and ensuring they receive the necessary support.
Why is Ethereum highlighted as an important blockchain to learn about in the script?
-Ethereum is highlighted because it introduced the concept of smart contracts, allowing for more than just financial transactions but also the execution of programs, which significantly expanded the capabilities of blockchain applications.
What are some of the tools a developer should learn to work with blockchain technology?
-Developers should learn about various tools such as Infura for communicating with different blockchains, IPFS for decentralized data storage, and various backend providers for data storage and API management.
What role do frameworks play in building decentralized applications (dApps)?
-Frameworks play a crucial role in building dApps by providing the structure and tools needed to develop applications efficiently. Examples include Next.js, React, and Angular, which can be used alongside HTML, CSS, and JavaScript.
How does the speaker suggest one can demonstrate their knowledge of blockchain and related technologies?
-The speaker suggests that one should prepare by learning about blockchain, smart contracts, Ethereum, and other relevant topics, taking notes, and building a few projects to showcase their understanding and practical skills during interviews.
What are some of the projects mentioned in the script that demonstrate the application of blockchain technology?
-The script mentions projects such as supply chain management, crowdfunding solutions, NFT marketplaces, voting organizations, decentralized chat applications, Etherscan clones, and real estate dApps, among others.
Outlines
🚀 Blockchain and Decentralized Finance Essentials
This paragraph introduces the importance of understanding decentralized finance (DeFi) and blockchain technology for those aspiring to build projects like UniSoft Globe on exchange platforms. It emphasizes the need to know the underlying protocols of decentralized exchanges and suggests that interviewers will heavily focus on these topics. The speaker outlines the necessity to learn about blockchain, its practical applications, the power it gives to individuals, and the difference it makes in financial transactions by eliminating intermediaries. The paragraph also hints at the broader implications of blockchain beyond cryptocurrency trading and sets the stage for further discussion on smart contracts and their real-world applications.
🛠 Mastering Blockchain Development Skills
The second paragraph delves into the specifics of what one must learn to excel in blockchain development, particularly in the context of decentralized applications (dApps). It covers the importance of understanding smart contracts, Ethereum's role in the blockchain ecosystem, and the various tools and frameworks available for developers. The speaker also touches on the significance of backend knowledge and the use of different backend providers. The paragraph further discusses the concept of data distribution and storage within blockchain contracts, the importance of frontend security, and the evolution of Ethereum's capabilities. It concludes by highlighting the need to stay updated with the latest developments in the blockchain space and to gain hands-on experience by building multiple projects, which will not only deepen one's understanding but also showcase expertise to potential employers.
Mindmap
Keywords
💡Decentralized Finance (DeFi)
💡Blockchain
💡Smart Contracts
💡Ethereum
💡DApps
💡Decentralized Exchanges (DEX)
💡Cryptography
💡APIs
💡Backend
💡Frameworks
💡Infura
Highlights
Importance of understanding decentralized finance and blockchain for job interviews in the fintech industry.
Blockchain's ability to facilitate international financial transactions without intermediaries, reducing fees and increasing speed.
The power of blockchain to give individuals control over their financial transactions, bypassing centralized authorities.
Misunderstandings about blockchain being limited to cryptocurrency trading; it has broader applications.
The necessity to learn about blockchain's potential beyond just cryptocurrency to build scalable applications.
Smart contracts as a tool for executing programs on the blockchain, enhancing developer capabilities.
Example of a smart contract application in agriculture to address farmer issues in India by providing financial support during bad weather.
The significance of Ethereum in the blockchain ecosystem and the need to understand why it stands out among other blockchains.
The variety of tools available for blockchain development and the importance of knowing how to use them.
Understanding backend options and providers for storing data in blockchain applications.
The role of frameworks in building decentralized applications (dApps) and the options available to developers.
Utilizing external providers like Infura to communicate with different blockchains and store data on decentralized ecosystems.
The importance of learning about data distribution and storage within smart contracts on the blockchain.
The necessity to understand front-end security in the context of blockchain applications.
Ethereum's updates and improvements, including transaction speed and ecosystem changes.
The concept of DeFi (Decentralized Finance) and its potential to revolutionize financial transactions without third-party authorities.
The practical applications of blockchain in various industries, such as supply chain management, crowdfunding, NFT marketplaces, and voting organizations.
Building multiple projects to gain a deeper understanding of blockchain technology and its implementation.
The variety of blockchain projects available on the channel, targeting different industries and use cases.
The importance of building at least four projects to solidify understanding and prepare for real-world application development.
Transcripts
if you are interested in decentralized
finance and building project like
unisoft globe on any exchange platform
then these are the topics which you have
to know very most because when you will
sit for the interview the company those
who going to take your interview they're
going to ask this question heavily
because all the decentralized exchange
work on this protocol on this particular
tool so you have to know so that's what
we will to talk about in this video that
what are the topics you have to know
what do you have to learn from where you
can learn it and how you can able to
develop your skills along building
couple of project that's all we going to
talk about it so the very first topic we
have in the list is that what is
blockchain and how we can utilize in our
day-to-day life what problem exactly
solve what is the power that's give to
its individual so we have to know
misunderstood the concept of the
blockchain when you talk about the
blockchain they think about the
cryptography trading buying coin it's
not about that there is a lot of thing
beyond that small concept so you can
able to build a large scalable
application you can able to build a
financial product which can facilitate
you performing financial transaction if
you look at the current scenario and The
Current financial system we have right
now in all the count you will find that
we are heavily dependent on the
centralized Authority but when it come
to the blockchain and if you build any
dab on the blockchain what happen it's
give the power to its individual so I'm
the user sitting in India I want to
transfer any fund to anybody in Russia
Canada USA I can able to communicate
with them so I can able to send the
money straight away to those who are in
different country without any worry if I
want to do the normal transfer of the
fund to different country I have to go
with this centralized system and there
is lot of charges are involved because
there is a lot of intermediate but when
you do the same transaction on the
decentralized ecosystem using this
blockchain technology there's only you
and the one who will receive the fund
there's no intermediate so that's the
benefit so you have to understand you
have to learn about deeply that what
blockchain is and what kind of
possibilities bring to its user in the
market right now where everything is
controlled and this blockchain give you
the power to expand it and give it more
flexibility so you have to learn about
blockchain you have to prepare a proper
note I know this will take a little bit
time when you will start learning just
build your note write it down everything
what is blockchain then give couple of
examples explain on it build couple of
examples from your end so when you will
sit for the interview so you can able to
give these kind of examples in the
interview so the interviewer can know
okay he has the knowledge so learn about
blockchain after that you have to learn
about smart contract that what smart
contract is what kind of things we can
do with the smart contract what program
we can write in the smart contract and
how we can execute on the blockchain
because right now we have multiple
blockchain blockchain was launched at
that point time we could not able to
execute the contract but when ethereum
was launched that's the power it bring
that you're not only able to do the
financial transaction send money receive
money but you can also run program so
that can give more power to developer so
what kind of application you can develop
and run on the blockchain with the help
of smart contract I can give you one
example about the smart contract
execution that how you can Implement in
the real world problem solving so in
India the biggest problem we have in the
farming industry every year like
thousands of farmer commit suicide
because of the bad weather and the crops
getting worse and they're not getting
the minimum support price from the
government and we having a lot of
protests recently so there is a lot of
clash between the government and the
farmers so what you can do is you can
use this smart contract execution you
can build a dab and register all the
farmers and you're going to provide the
data about the weather conditions so
when the rain is not that good the the
farming is not happening that good so
this contract will automatically
transfer the fund to all those farmer
who are associated with this Burger T so
there is no intermediate so the biggest
problem we have in the in India that
there's a lot of intermediates player we
have and because of that the farmer not
get their price the most of the money
get reduced in the metal so that's the
problem you can solve if you guys want I
can EAS a to build the application using
this particular technology where we
going to have a set of farmers farmers
will registers into this dab model and
we going to provide some weather
condition datail so when there is no
good train the money will be
automatically dasp to the farmer so this
is one of the business model you can
include and you can launch so learn
about the smart contract after that you
have to learn about the ethereum that
what is ethereum why we have so many
blockchains why only ethereum we have
Bitcoin we have polygon we we have
binance why ethereum so learn about it
after that you have to learn about the
tools that what are the tools are
available for us as a developer as a
user point of view so what tools we have
which we have to use for developing or
doing the normal Financial structure so
you have to learn about the tools then
you have to have a little bit
understanding about the back end because
sometime you have to store data in the
back end in the API so you have to know
that what is backend what are the
options you have to use the backend so
we have multiple backend provider you
can go with mongod you can go with the
rabit a there tons of things we have so
learn about it then you have to learn
about the framework because when you
going to build a tab definitely going to
use any framework you can build your dab
using HTML CSS and JavaScript but you
have other option as well like you can
use nextjs react angular multiple
framework we have which you can pick so
you have to learn about the framework as
well so these are topics which you have
to master now let's talk about the
providers that how you can utilize the
external provider to build your
application faster and get more detail
so number one we have is infura which is
very important because infa will allow
you to communicate with the blockchain
different blockchain right now we have
multiple providers like you can go with
Avalanche bance there's tons of Provider
we had but you can use this in fura as
well you can use their ipfs service to
store the data on the decentralized
ecosystem so learn about it then you
have to learn about the data
distribution storage that how you can
distribute the data how you can store
the data within the contract within your
dab on the blockchain so you have to
learn about it after that you have to
learn about the front end security then
you have to learn about the chain then
you have to learn about the future of
that so what kind of improvement they
are making in ethereum and what is the
future of ethereum because recently you
have seen there is a lot of update in
ethereum blockchains earlier the
transaction was pretty slow but now we
can do the transaction very fast so what
kind of ecosystem they have changed in
the past one and the recent one so you
have to learn about it then you have to
learn about the def uses as I told you
that I gave you the one Financial
product that if anybody wants to
transfer any fund to anywhere they can
do it straight away without any
involvement of any third party Authority
so you have to learn about it so these
are the couple of things which you have
to know which you have to know and if
you you master it when you will apply
for a job when you will apply for
internship this is the question they
going to ask you as a beginner level
after that when you will go to the
coding round they're going to ask you
more specific toward the coding but you
have to clear your first round so these
are the things you have to know this
will show you this will show the
employer that you have the understanding
about the thing which you are applying
for so that will help you a lot so I
hope you guys have got an idea that what
exactly you have to learn what are
things you have to cover to increase
your understanding about the blockchain
and what are the things are there which
you have to must and what kind of
problem we can solve through this
particular technology we already have a
lot of project on our Channel which
targeting different Industries so if I
come back to the souls for Section we
have multiple project just have a look
we have the Supply Chain management we
have solving the problem of crowdfunding
so if you want to raise any Fund in the
dieselized ecosystem you can raise it
create ad campaign create a funding
campaign we have nft marketplace where
you can simply allow the user to create
nft digital aset then we have the voting
organizations you can take this voting
organization to any industry where you
want to conduct vote if you talk about
the country we have election so you can
use the same model we have a dieselized
chat application we are storing all the
chat models in our contract on the
blockchain CTO graphic to encrypt the
data then we have this ether scan clo we
are getting all the data from the
blockchain and then we are displaying in
our dab so in this you will learn about
that how you can read the data from the
blockchain we have unisoft clone
decentralization we have buil we have
multiple project this is the API this is
the real estate dab we have buil the NF
Marketplace API how you can build the
blockchain API which you can provide to
a third party application that's what we
have we have met up clone staking dab we
have a smart contract auditor we have a
chat GTP we have desized clone we have
sash product where we are allowing to
where we are allowing user to come and
create their token and we charging money
for it then we have our Ico we have
unisoft token Marketplace then we have
the blockchain Facebook so now this one
is totally controlled by smart contract
on the blockchain right now we have
centralized Facebook but we can make it
decentralized that's what you will find
we here we have this trading bot here we
have the information founder liquidity
Marketplace tons of project we have we
have so of project so come and check all
of the project at least build four
project which is very important once you
will build four project that will give
you a better understanding that what
exactly you have to do how you have to
prepare yourself and what other things
are required to build any type of
application so hope this video help you
a lot to understand that what exactly
you have to do and how you can build any
type of application so with that I'm end
this video if you have any question any
doubt let me know comment section I'll
definitely try to help you that have
wonderfully bye-bye
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