What If I Have to Restart Learning Blockchain Development in 2024-2025 ❓

Summary

This 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

00:00

🚀 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.

05:00

🛠 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.

Keywords

💡Decentralized Finance (DeFi)

Decentralized Finance, often abbreviated as DeFi, refers to financial services that are built on blockchain technology and operate without centralized control. In the video, DeFi is the overarching theme, as it discusses building projects like UniSoft Globe on exchange platforms. The script emphasizes the importance of understanding DeFi for anyone looking to work in this space, as it is the future of financial services where power is given back to individuals through blockchain technology.

💡Blockchain

Blockchain is a distributed ledger technology that records transactions across multiple computers so that the record cannot be altered retroactively, enhancing transparency and security. The video script explains that blockchain is not just about cryptocurrency trading but has the potential to build scalable applications and facilitate financial transactions without intermediaries, as exemplified by the script's mention of international fund transfers.

💡Smart Contracts

Smart contracts are self-executing contracts with the terms of the agreement directly written into code. They automatically execute transactions when predefined conditions are met. The script discusses smart contracts as a powerful tool for developers, allowing them to write and execute programs on the blockchain, which can be used to solve real-world problems such as ensuring farmers receive support payments automatically based on weather conditions.

💡Ethereum

Ethereum is an open-source, blockchain-based, decentralized software platform that enables the creation of smart contracts and decentralized applications (dApps). The video script highlights Ethereum's significance in the DeFi space, as it was the first platform to enable the execution of contracts on the blockchain, thus expanding the possibilities for developers beyond simple financial transactions.

💡DApps

DApps, or decentralized applications, are applications that run on a blockchain network rather than a single computer. They are designed to be more transparent, secure, and tamper-proof. The script mentions building DApps as a key skill for developers in the DeFi space, providing examples of how they can be used to solve problems in industries such as agriculture.

💡Decentralized Exchanges (DEX)

Decentralized Exchanges are platforms that allow users to trade cryptocurrencies without the need for a central authority. The script points out that understanding how DEXs operate is crucial for anyone interested in DeFi, as they work on specific protocols and tools that are fundamental to the ecosystem.

💡Cryptography

Cryptography is the practice and study of techniques for secure communication in the presence of third parties. In the context of the video, cryptography is a foundational aspect of blockchain technology, ensuring the security and integrity of transactions. The script briefly touches on the misconception that blockchain is only about cryptography and trading, when in fact, it encompasses much more.

💡APIs

APIs, or Application Programming Interfaces, are sets of rules and protocols that allow different software applications to communicate with each other. The script mentions the importance of understanding backend APIs for developers working with blockchain, as they may need to store and retrieve data from various backend providers.

💡Backend

The backend refers to the server-side of an application, responsible for data storage, processing, and logic implementation. The video script suggests that developers need to have an understanding of backend technologies to complement their blockchain development skills, as it is often necessary to interact with databases and servers.

💡Frameworks

In software development, a framework is a platform that provides a structured environment for developing applications. The script mentions various web development frameworks such as Next.js, React, and Angular, which can be used to build DApps or other blockchain-related applications, emphasizing the need for developers to be familiar with these tools.

💡Infura

Infura is a cloud service that provides developers with scalable access to the Ethereum network without having to run their own nodes. The script highlights Infura as an essential tool for developers in the DeFi space, as it allows them to communicate with different blockchains and utilize IPFS services for decentralized data storage.

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