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Prerequisites to Becoming a Blockchain Expert – Part 1

Getting involved in the blockchain space is pretty simple. Study the underlying fields of computer science that brought blockchain technology into being. Cryptography, Distributed Computing, and Mechanism Design are these fields. They were all studied for years alone, but when they were brought together by Satoshi Nakamoto it created a new revolution. If you get involved in this space, studying these will greatly mitigate your risk. Compared to being a crypto investor, or even a solidity developer, it is a more robust knowledge base to have as it is less certain that solidity will be around in 10 years compared to these fields of computer science (see Lindy Effect). Knowledge in these fundamental fields is highly sought-after in blockchain space, and the amount of people putting in the hard work to learn these topics is disproportionately skewed to the amount of money flying into space, meaning your time to study them will definitely be worth it. These basic topics have been around for decades, and due to some hype cycle, they have not changed. This tech is here to stay, whether the bubble crashes or falls.  

Cryptography

Cryptography is one of the most important concepts of our day and age to understand. Consider for a second that our social structure is determined by the logic of violence. In short, what this implies is that as our assets are increasingly digitized (think about how much data is worth, and how the world’s largest companies are all data aggregators), we will have to secure them with more advanced cryptography to keep them safe.

We can look at medieval Europe when compared to a past with a large number of physical assets. Feudal lords worked extremely hard to protect land, involving mechanisms of physical protection such as a horse-riding knight ploughing the fields by strong-armed peasants.

Consider the fact that the cryptography behind bitcoin secures more than $ 300,000,000,000 to take it a step further. (17 December 2017). It secures more value than Fort Knox’s amount of gold. This digital trend will continue to overtake how we secure what we consider valuable in our society.

Keep watching this space to know more about distributed computing and mechanism design.

Oracle
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