Should I learn blockchain in 2023? (2024)

FAQs

Should I learn blockchain in 2023? ›

In 2023, learning about blockchain technology remains a pertinent choice, especially if you're interested in emerging technologies and their potential impact on various industries. Blockchain, the underlying technology of cryptocurrencies like Bitcoin and Ethereum, has evolved beyond digital currencies.

In the last quarter of 2023, blockchain technology remains very popular and constantly growing.

The Verdict

Learning blockchain in 2024 opens doors to exciting career paths and allows you to play a role in technological advancements impacting diverse sectors.

In 2024, we can expect further movement towards the implementation of additional regulatory frameworks, laws and policies related to digital assets of all kinds that will spearhead the widespread adoption of blockchain technology.

Blockchain developers are in high demand. According to a LinkedIn study, blockchain developers are one of the fastest growing and most-sought after technical skills in 2023. Blockchain developers are making 50-100% more than traditional developers.

A symbiotic relationship. To sum it up, blockchain and AI will go hand in hand, and artificial intelligence will impact the decentralized ledger positively. Although AI impacts blockchain in numerous ways, the most significant one is the ability to solve the problem of fragmented liquidity.

Blockchain is a disruptive technology with huge future potential. This is clearly demonstrated in how the technology has already facilitated direct peer-to-peer transactions worth trillions of dollars via digital currencies while eliminating middlemen and reducing transaction times.

Blockchain-based contracts are becoming more and more popular as sectors like government, healthcare and the real estate industry discover the benefits. Below are a few examples of how companies are using blockchain to make contracts smarter.

There is a steep learning curve to overcome in order to understand the blockchain, and how to build applications for it.

A report published by the World Economic Forum claimed that by 2025, 10% of GDP will be stored on blockchains or blockchain-related technology. Blockchain technology is poised to revolutionize the way the digital world handles data and does business. Technology has the potential to bring changes around the world.

Is blockchain the future or hype? ›

Blockchain is already being used in some supply systems, but it is likely to be only a part of supply's future as technology changes. It's very possible that artificial intelligence will be used to create much more efficient and capable technologies and systems using blockchain techniques.

Will Blockchain Replace Cloud Computing? While blockchain offers unique capabilities, it is unlikely to replace traditional cloud computing entirely. Instead, these technologies are likely to coexist, with each serving specific use cases and complementing the other's strengths.

Actually, Blockchain is now one of the most hyped, hotly debated, controversial, and yet promising technologies since the inception of the Internet. Gartner included it in the list of technologies of its Hype Cycle for Emerging Technologies.

If you are looking for a career path that can be both lucrative and secure then yes, Blockchain is certainly one of the best tech careers to choose. The blockchain industry is booming and it's projected to continue to grow in the coming years.

Yes, if you want to create your own blockchain application or project, coding is required. You need to have a solid understanding of programming languages like Solidity (for Ethereum) or C++ (for Bitcoin) to develop smart contracts and set up the necessary infrastructure for your blockchain network.

Blockchain developers typically charge $81-100/hr, on average.

Not necessarily. The development of quantum-resistant cryptographic algorithms is crucial to safeguarding blockchain networks against quantum attacks, and ongoing research is yielding promising possibilities.

Here are some facts about its growth:

The global blockchain technology market size was estimated at USD 4.8 billion in 2022 and is extending to around $2.3 Trillion by 2032, poised to grow at a compound annual growth rate (CAGR) of 85.7% during the forecast period 2023 to 2032.

That said, Bitcoin didn't actually take that long to recover from its post-FTX crash — by mid-January 2023, it had already returned to its pre-crash price. Since then, the cryptocurrency has experienced one of its most promising periods since its inception, including a new high in March 2024.

Blockchain, as it has been known since 2009, was a starting point for future developments, much like any new technology. As it ages, more blockchain uses are being discovered and developed, so it is unlikely that it will fade into oblivion.