What is Blockchain?
In recent years, interest in blockchain, due to its potential, has grown exponentially. It has expanded internationally, penetrating more and more industries, redefining regulations, and creating new markets and investment opportunities.
What are the implications? What is a block chain?
Blockchain is a technology that allows the development of applications in which data is stored in a decentralized way. Generally, this means that the application developed in blockchain does not depend on a single server, where the information is stored and which allows its operation; but this server will be hosted in every device (hardware) the application is opened.
Why is it possible to buy objects, currencies, and real estate, in a system that works through blockchain technology? This technology consists of different modules, blocks in a chain (hence the word Blockchain), to which each user establishes a value. Each block contains encoded information about a transaction. As they are interlinked (hence the word chain) they allow the transfer of data or value, with fairly secure encryption through the use of cryptography.
How is it possible for each user to place value on a system that already exists?
This is possible because it is based on a smart contract on which users, through voting, determine certain parameters that indicate the value, maintenance, or update of that value. This contract is self-executing and is how the operation of cryptocurrency and its continuous changes are determined.
In a blockchain-based system, each user has a copy of what is owned by another user, unlike other everyday use applications. For example, the platforms used to make banking transactions (home banking), are for personal use and the information is only handled by the bank and the user. In the blockchain system, each user is informed through a copy of data about what is the property of another user. That is the feature that makes this platform more secure, whereas everyone has a backup; there is not a single file.
Why is it a secure technology? Each device or node, as it is called in these cases, has a record of each action carried out. This information is immutable, it cannot be altered or edited. Each block has an input and an output, each output is exactly the same as the input of the next block, so the proprietary information of one user cannot be edited by another.
What is a Dapp?
It is an application that contains decentralized information (Dapp is an acronym). They have proliferated thanks to technologies such as blockchain or Ethereum. They usually are used to implement smart contracts, for all the reasons mentioned, they allow to make any type of transaction; all those that are established in the smart contract.
It is very common to associate blockchain technology to the world of cryptocurrencies and digital assets. However, this is not the only business model that would be useful to develop with it: think of any project that needs to manage its information in a decentralized and secure way, allowing users to align their opinion and usage needs according to the smart contract.
An example of a Dapp can be a video game platform where an interactive character can be created to make transactions like the ones we mentioned at the beginning; buy and sell items; of any kind; currencies, objects, real estate, etc. Is that possible?
It is possible because a Dapp, from the user’s point of view, works the same or very similar to the applications we usually know and use. The difference, in this case, will be given in the way that the information is stored and all the criteria of functionality that we have already mentioned above.
There are increasingly more projects that involve and require profiles with the necessary technical expertise to develop different tasks around blockchain technology. As tech recruiters, we can ask ourselves what is the difference between these and other IT profiles. What is the better way to be inserted into this new and more defined reality?
In turn, when building a job description it is necessary that we are able to identify what are the tasks that our client requires to cover: dapps development, smart contracts, dapps integration, etc.. A clear contrast is needed to be made between a traditional app and a dapp, since the selection processes using blockchain technology will test the logic of this system when evaluating the candidate. Most of the processes where there is a technical failure are those in which, beyond the expertise in traditional development tools, are applied with difficulty to the blockchain logic.
Finally, from our experience, we could state that it is an investment to train ourselves, to work on these searches, and deepen our knowledge in the market available today to fill these vacancies. Despite the revolutionary potential and widespread experimentation, blockchain is a still very young and evolving technology.
Written by: Katia Doliszniak y Franco Gonzalez