Blockchain technology has completely revolutionized how we interact with data and transact financial information. It’s quickly become a prominent figure in the tech world, and it’s no surprise that many are looking to break into this industry as blockchain analysts. But how can you become one?
We’ll explore the skills, qualifications, and resources needed to become a successful blockchain analyst in this blog post. From understanding the fundamentals of blockchain to emerging trends in the industry, read on to learn more about what it takes to break into this competitive field.
What is Blockchain?
A blockchain is a digital ledger of all cryptocurrency transactions. It constantly grows as “completed” blocks are added with a new set of recordings. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data. Bitcoin nodes use the blockchain to differentiate legitimate transactions from attempts to re-spend coins that have already been spent elsewhere.
Blockchain technology was first described in 1991 by Stuart Haber and W. Scott Stornetta, two researchers who wanted to implement a system where document timestamps could not be tampered with. However, Satoshi Nakamoto implemented the first blockchain database in 2009 as part of the digital currency bitcoin, serving as the public ledger for all transactions.
Nowadays, blockchain has become much more than just the underlying technology behind bitcoin. Numerous startups use blockchain to raise funds through Initial Coin Offerings (ICOs). And big businesses are starting to explore how they can use blockchain in their supply chains and other operations.
What Does a Blockchain Analyst Do?
A blockchain analyst is responsible for analysing, managing, and maintaining a company’s blockchain infrastructure. They work closely with other members of the technical team to ensure the smooth operation of the blockchain network. In addition to their technical responsibilities, blockchain analysts provide support and advice to non-technical staff on using blockchain technology.
Courses and Qualifications for Becoming a Blockchain Analyst
There are a few different routes you can take to become a blockchain analyst. The most direct path would be to get a degree in computer science or a related field, then specialise in blockchain technology during your studies. Alternatively, you could complete a professional certification program specifically in blockchain analysis.
If you have experience working with databases and information systems, that will also give you an excellent foundation to work with the vast amount of data stored on the blockchain. And finally, it’s always helpful to be well-versed in the business applications of blockchain so that you can advise companies on how this new technology can be integrated into their operations.
How to Become a Blockchain Analyst
If you want to become a blockchain analyst, there are a few things you need to know. First, what is blockchain? Blockchain is a distributed database that allows for secure, transparent, and tamper-proof recordkeeping. It could be used for anything from tracking financial transactions to voting systems.
Second, you need to have strong analytical skills. You’ll need to understand complex data structures and algorithms and identify patterns and trends.
Third, you should have experience working with databases and programming languages. SQL, Python, and Java are all commonly used in the blockchain space.
Fourth, it helps to be familiar with cryptography. This technology powers blockchains, so it’s essential to understand how it works.
Finally, don’t forget about the softer skills. Blockchain projects are often collaborative, so being a good team player is essential. Communication and presentation skills will also come in handy when presenting your findings to clients or investors.
Resources for Further Reading
There are several excellent resources for further reading on becoming a blockchain analyst. Here are some of our favourites:
- BlockData: This website provides an extensive range of resources on blockchain data analysis, including tutorials, guides, and best practices.
- CoinDesk: CoinDesk is one of the leading media outlets covering all things blockchain and cryptocurrency. Their website includes a range of articles on blockchain data analysis.
- Blockchain Analysis Blog: This blog provides regular insights and analysis on blockchain data.