Blockchain, as per industry experts, is among the most disruptive upcoming technologies. The underlying platform beneath bitcoin finds its uses in any sector that requires real-time information sharing in a secure architecture. Estimates suggest around 10% of the global GDP will be stored in blockchain networks by 2027. Blockchain architects are responsible for building the necessary infrastructure, and as such, they are in heavy demand. This article will shed light on the necessary skillset for becoming a good blockchain architect.
Blockchain Architect: A Profession that Excels in Collaboration
A blockchain architect infuses blockchain technology in the planning and creation of effective solutions that facilitate cross-asset frameworks. The task requires close collaboration with R&D teams. As such, working on new innovations and setting performance standards for newer solutions are some of the career highlights of a blockchain architect. Without further ado, let us look forward to the top 10 skills that make a good blockchain architect.
10 Must-Have Skills for a Blockchain Architect
1. Solid Grasp on Cryptography
A blockchain architect will be working on the creation of networks that do not permit unauthorized data access. Hence, cryptography, or studying the necessary protocols for safeguarding data is an essential skill. Public key cryptography is essential for cryptocurrency transactions. The architect must also have a good understanding of the associated algorithms, tools, and Blockchain consensus mechanisms.
2. Understanding of Blockchain Architecture
An obvious requirement, blockchain architecture is mandatory for any blockchain developer. A versatile blockchain architect will be at ease in any of the 3 blockchain types- Public, Private, or Consortium. The person should also be adept in performance optimization for blockchains, upgrading nodes and chains, backing up and restoring nodes, handling cold nodes and wallets, and clustering for high availability.
3. Knowledge of Open Source Server Security
A significant portion of blockchain development requires knowledge of the security features of the open-source OS. As such, a blockchain architect should be able to set up, secure, harden, and maintain Linux servers, particularly Ubuntu, CentOS, Debian, Fedora, RHEL.
4. A Grip on Blockchain Development Platforms
Blockchain development platforms are the industry standard for building and developing blockchain solutions for various purposes. Popular blockchain development platforms which a blockchain architect needs to master include Tatum and Infura.
5. Ability to Distinguish Good Blockchain Use Case
A blockchain architect is required to understand the client’s requirements and deliver the solutions that work. The ability to differentiate between good and bad blockchain use cases is thus a necessary prerequisite for the architect to excel in decision-making.
6. Understanding the Decentralized environment and its impact on Finance
Decentralization is one of the key objectives of the blockchain and crypto community. It is useful to have a good understanding of its impact on finance. Decentralized Finance (DeFi) is one of the most promising implementation examples of blockchain. A blockchain architect should have a command over the DeFi ecosystem and its associated terminologies- Assets, Chains, Staking, DEXs, Staking, and more.
7. Tokenization & Wrapped Assets.
NFTs and metaverses are not the only places where you will need tokenization. In line with the upcoming NFT boom, wrapped tokens are also increasing in popularity. Wrapped tokens or tokens with valuations to the underlying cryptocurrency find their uses in multiple blockchain applications, and a specialization in these two topics is useful for blockchain development.
8. Staying Updated on Widespread Public Blockchains
Public blockchains are the most popular and widespread. Staying updated on Bitcoin, Ethereum, Solana, Tron, Avalanche and other widespread blockchains would be beneficial for remaining connected with the latest developments, innovations, and possibilities.
9. Awareness of Upcoming Innovations- HyFi, Metaverse, NFTs, Web 3.0
The full scope of blockchain implementation is yet to be realized. Potential future applications of blockchain include the highly promising metaverse, Hybrid Finance(HyFi), non-fungible tokens, and last but not least, Web 3.0.
10. Expertise in Blockchain and Smart Contract Security
Ethereum made Smart Contracts mainstream in the blockchain world. Smart contracts facilitate the completion of transactions without the requirement of an intermediary. This reduces processing costs, giving blockchains and cryptocurrencies an edge over conventional payment processor services. Such is its relevance that all blockchain solutions aim for the incorporation of Smart Contracts.
Domains already incorporating blockchain, or planning to do so in the near future, includes corporations, fintech, finance, supply chains, gaming, healthcare, and more. Forthcoming innovations like Web 3.0 or the Metaverse will also rely heavily on blockchain infrastructure. To sum things up, blockchain engineers and architects will be key to the upcoming global revolution brought forward by blockchain implementation.