Metaverse Class November 2023 Ledger Academy Blockchain Basics 2023
Blockchain Projects A blockchain project goes through the same stages as other enterprise software projects, creating solutions from an idea to a working model. From functional specifications and architecture plans to interface design, talented individuals with varying skill sets are required to get a blockchain project off the ground, Let’s look at some of these roles.
Creation A Blockchain Project Management person or team is ultimately in charge of determining if a blockchain solution is needed. This individual or team usually has many roles and is the driving force of the project, from ideation to production, this position requires leadership to steer a project toward success. A Blockchain Architect chooses the appropriate blockchain system for a use case, analyzing both business and technical components to consider in designing a blockchain application. Decisions as to the type of blockchain, cost-benefit analysis, and security design consideration are the architect’s responsibility. A Blockchain Engineer determines the infrastructure of the blockchain solution designing and developing a distributed blockchain network. Working with open-source code and determining programming languages, algorithms, nodes, data structures, and cryptography, talented engineers are needed to design these peer-to-peer networks. A Blockchain Designer creates the interfaces that the system needs to interact with participants. UX designers facilitate adoption by users and require a basic understanding of workflows and design elements. Production A Blockchain Developer designs and codes the smart contracts that supply the logic behind business decisions. They create and test the software and systems. The two types of developers are Core and Software. A blockchain core developer works on the emerging blockchain protocols that solutions are developed on top of whereas a software developer is charged with developing for specific use cases. A Blockchain Operator or node operator runs the software that keeps a full copy of the blockchain and broadcast transactions across the network, deciding on valid transactions. A Blockchain Community Member can be a node operator or an entity that interacts with the systems. A basic principle in blockchain technology is consensus and a strong community is a vital piece for a successful blockchain project. Maintenance A Blockchain Analyst examines the effectiveness of blockchain ledgers, determining areas that could use improvement and developing strategies for implementing changes. Since the technology is constantly improving, blockchains require clear Change Management guidelines to keep the system operating. A Blockchain Regulator is a wide-open field with positions emerging as the need to govern this new technology arises. From smart contract enforcement and regulation to determining responsibility within a DAO (Decentralize Autonomous Organization), uncertainty and the need for clear guidelines exist and are emerging as governments and corporations consider adopting blockchain technology and grapple with a myriad of regulatory issues. Blockchain Governance is vital to the survival and adaptation of these ledger systems. Blockchains must follow the basic financial guidelines issued by the governments in which they geographically operate. Understanding what these guidelines are and how they are enforced in a constantly evolving environment is no easy task and addressing them is necessary.