With the entire buzz surrounding cryptocurrencies and its increasing strategic value for businesses, it is only necessary to be familiar with the nuts and bolts at the back of your hand. Before we delve deeper, lets first lay down the foundations of the terminologies that this ever-growing tech field giant encompasses.
- Cryptography: This is the science that studies techniques for scrambling or remolding data in order to disguise it. It secures communication against malicious third-parties (called adversaries). Encryption, that we all know of, is a component of this science.
- Cryptocurrency: In simple words, a cryptocurrency is a digital or virtual currency designed to work as a medium of exchange. It uses cryptography to secure and verify transactions
- Blockchain: This is a digitized public ledger in which transactions are made in cryptocurrency and are recorded chronologically and publicly. Many people see blockchain as an alternative to traditional banking.
- Bitcoin: Bitcoin is a cryptocurrency, a form of electronic cash.
Types of Blockchain:
There are two main types of blockchain; Public and Private. The way that they differ, affect the level of security they provide. The major differences are listed below:
Benefits of Blockchain:
Although it may seem traditional databases perform better, Blockchain seems to seal the deal with its 4 major advantages:
- Cryptographic Security: The records on a blockchain are secured through cryptography. Network participants have their own private keys that are assigned to the transactions they make and act as a personal digital signature. If a record is altered, the signature will become invalid and the peer network will know right away that something has happened.
- Transparency: The transparency of a Blockchain stems from the fact that the assets and transactions of each public address are open to viewing. It is possible to view a user’s holdings and the transactions that they have carried out. This level of transparency and accountability has not existed within financial systems before, especially in regards to large businesses.
- Decentralization: Blockchains are decentralized and distributed across peer-to-peer networks that are continually updated and kept in sync. Since they aren’t contained in a central location, Blockchains don’t have a single point of failure and cannot be changed from a single computer. This makes hacking considerably difficult.
- Immutability: Lets understand this term with a comparison. In Excel spreadsheets, you can add rows, add columns, delete rows, edit data, etc. In other words, Excel is mutable. Blockchain on the other hand, are immutable; once a piece of information is written to a block, it can never change.
The picture below summarizes the basic facts and confusions surrounding Blockchain*:
*McKinsey & Company Insight
I hope this article gave useful information in an easy to understand manner. For more in-depth articles, hit us up with a comment and we’ll make sure to post about it!
Here is an info graphic which will help in reading a research paper
The following link is for a simple test that will tell you if you are eligible of becoming a data scientist :
قبل ما تبدأ تذاكر لتخصص علم البيانات ، اعمل الاختبار التالي عشان تعرف هل التخصص مناسب لك أم لا
تم وضع اختبار بسيط ، ويعتمد هذا الاختبار على صفات يجب ان يمتلكها أي محلل ،الطريقة انه بعد قراءة كل سؤال سجل لنفسك علامة من العلامات المذكورة بجانب كل سؤال ، إذا كانت علاماتك من 70 وأعلى معناه إنه التخصص مناسب لك ، أما إذا أقل من 50 فيجب عليك إعادة النظر في الموضوع
إذا كانت علاماتك 70 فأعلى ، انقر على الرابط التالي
The following link is for the Data Science Learning Path
To Watch the explanation on YouTube click the following link:
Best Of Luck
Importance of SoftSkills أهمية المهارات الشخصية
For Example: if a teacher has really good knowledge about a particular topic ( HardSkills), but he can’t deliver the message clearly ( Teaching or Public Speaking which consedered as a softskills) he won’t be able to do his job efficiently.
مثلا: إذا كان المعلم لديه خبرة واسعة في مجال معين (هارد سكيلز او مهارات مكتسبة) ولكنه لا يعرف توصيل المعلومة بشكل واضح (ما يعرف يشرح او يوصل المعلومة او انه يخاف من التحدث امام الجمهور وتعتبر هذه من المهارات الشخصية او السوفت سكيلز ) فما حيقدر يشتغل بطريقة صحيحة
Benefits of SoftSkills فوائد المهارات الشخصية
I wanted to write a similar article as this one , instead of re-writing it , i posted the link to that post .
Big data for business
- Predictive marketing
Big data is used to predict major life events like graduating or getting married, having a child, they do that by looking at the consumer behavior by monitoring the type of websites they visit. For a real-life example check this link ( how target found out the girl was pregnant)
- Looking at consumer behavior.
By looking how often you log into their website, they can check what type of items you are looking.
Real life example:
I was looking to buy a mac book air on Amazon, then I changed my mind and I was watching youtube all the ads in the google ads were about mac laptops from Amazon
Another example: I wanted to buy some books about Data mining, but for some reason, I postponed buying it, next week I got an email from Amazon of all the highly rated Data mining books, I ended up buying 2, and they were really good.
- Using Demographics
Demographics like age- marital status – home address- websites you visit
- Predicting trends:
The edited retail company won an award for using big data in predicting fashion trends, so they can actually tell the retailers what most popular colors, styles, brands when they are going to be popular which will help them in pricing them
- What is Variety in Big data?
- What is Structured data and Unstructured data and Multistructred data?
Variety point to the many sources and types of data both structured and unstructured.We used to store data from sources like spreadsheets and databases. Now data comes in the form of emails, photos, videos, monitoring devices, PDFs, audio, etc. This variety of unstructured data creates problems for storage, mining and analyzing.
Structured data: refers to a data which are contained in relational databases and spreadsheets.
Unstructured data: is all those data that can’t be so readily classified and fit into a neat box: photos and graphic images, videos, streaming instrument data, webpages, PDF files, PowerPoint presentations, emails, blog entries,tweets, wikis and word processing documents
Multi-structured data refers to a variety of data formats and types and can be derived from interactions between people and machines, such as web applications or social networks. A great example is web log data, which includes a combination of text and visual images along with structured data like form or transactional information