Category: Tips

Categories
Tips

Best way to hire a Senior Java Programmer

Without a reliable and trustworthy web application to depend on in today’s competitive business environment, it might be difficult to prosper and survive.

A website not only provides a multitude of features and services, but it also makes it extremely easy for business organisations to organise their work and improve their internal communication via the use of several web-based apps. Java has been actively employed by developers to give high-end software and online apps to customers regardless of whether they are working on the internet or an organisation’s private intranet.

In the following section, we are going to talk about the multitude of benefits that this platform offers, as well as the reasons why you should hire Java developers. Read on for more information.

Java is now one of the programming languages that are in most demand worldwide. Because of the important function, it plays in the operations of your main company, you will need to find the most qualified individuals to join your team. Everything you need to know to successfully attract Java developers is included in this guide.

Although Java is a general-purpose programming language that uses statically typed expressions, it is also an object-oriented and concurrent language. Java was intended to be a WORA language, which stands for “write once, run anywhere.” This means that the language should be able to operate on any platform and with as few dependencies as possible with the support of the Java Virtual Machine (JVM). There is no such thing as speed in languages; all that is required is linguistics. If you want to assess how quickly anything is implemented, you need to choose distinct implementations to compare with one another. Backend web development often makes use of languages written in Java. Backend web development refers to the portion of web development that is concerned with the creation of the software system that may be executed on the server. According to a poll that was conducted among developers on Stack Overflow, java is the most prevalent kind of development.

Java is an older programming language, yet it is still widely used

In the early 2000s, commercial applications were among the first to start making widespread use of Java. It was designed with a few primary goals in mind, including ease of use, durability, and mobility. It is clear how these fundamental characteristics contributed to Java’s rise to prominence as a language of choice, one that is today used in every industry and application layer possible. All of these things may be developed in Java by making use of sophisticated frameworks and tools, including database access, system behavior, service publishing and access, and individual development (mobile, web, and desktop). In addition, Java can be found on every platform imaginable, from SIM cards in mobile smartphones to the high-end servers that operate the cloud. It can even be found on implanted and Internet of Things (IoT) devices. A software developer can’t make a mistake by deciding to study Java. Approximately 51 billion Java virtual machines are operating, which means that well-paying employment is assured for Java applications for many years to come. 98 percent of the Fortune 100 companies are actively employing Java workers.

Java is still one of the most widely used programming languages, and as a result, programmers who are proficient in Java are in high demand. The programming language is used by a variety of significant organizations to build and maintain their internationally recognized products. Java is well-known for the rapid processing speed it offers in software, computer games, and apps for desktop computers as well as mobile devices. It is used in the process of developing software as well as web-based applications for a variety of platforms. It has gained a lot of popularity because it is simple to use for newcomers, even though it may still take some time to grasp.

The creation of programs and software via the use of the programming language Java falls within the purview of a Java developer. A Java developer is a specific sort of programmer that may work in conjunction with web developers and software engineers to incorporate Java into commercial applications, software, and websites. C#, the primary rival to Java, is seeing a decline in market share, in contrast to Python’s competitors R and Ruby, which are more or less remaining stable. This post demonstrates the procedures that need to be taken to hire an acceptable Java developer, which is a challenging process in and of itself. Let’s begin by discussing how to choose a qualified candidate out of a heap of resumes submitted by Java engineers.

A Brief Observation Regarding the salary of Java Developers

You may be wondering what elements have an impact on the salary of a Java developer. There are two primary contributions, which are as follows:

  1. Experience. Even within the seniority level of a Junior Java developer role, more experienced applicants anticipate earning higher money. If you are in the process of recruiting for this position, keep this in mind.
  2. Skills. Developers that possess talents that are in higher demand will be compensated more. Candidates that have expertise in Java/J2EE are often compensated at a higher rate on average. In addition, since developers are such an important part of the process of producing your product, you should look for ones that share the values of your organization. In the long run, it is to the advantage of both parties since developers who are enthusiastic about their work often better represent the company’s ideals in the end product that the customers view.

When looking to hire a Java programmer, what are the best practices to follow?

  1. It may feel like a never-ending hunt for a decent employee while you are in the process of looking for one. There is a significant amount of demand for highly qualified workers all around the globe, and this is especially true when recruiting Java developers is taken into consideration.
  2. Java is the programming language of choice for corporations since it is the most reliable, versatile, and safe option available. As a result of this, Java developers will be among the professions with the second greatest demand in the year 2022.
  3. When looking to recruit Java developers, you must find individuals who are not just technically competent but also excellent communicators and who are aware of what they are doing.
  4. But where can you get people with such qualifications? There are not nearly enough people looking for jobs who have these specialized skill sets, even though there is a significant need for them.
  5. When you confine your search to a certain location, whether it be a city or even a nation, you will quickly discover that the pool of potential individuals is far less than you would have anticipated. 

The following recommendations for searching for an appropriate Java developer:

  1. Employing a Java software developer: The first question that has to be addressed is, “from where can I hire java programmer?” The first place that employers search for people with Java development experience is on several job portals. However, there are online communities and specialized forums such as GitHub, Stack Overflow, and others that can give you a reasonable idea about the level of expertise of the participating developers. This is because people typically use these platforms to demonstrate their level of technical expertise. In addition to this, Java hackathons and conferences provide the opportunity for recruiters to physically connect with developers while also expanding their network of contacts.
  2. A good old-fashioned JD will do the trick: The job description must make it very apparent which particular abilities a potential Java programmer should possess to be considered for the position. Your efforts to filter applicants would be reduced as a result since individuals who exhibit these attributes are more likely to apply for the job. The JD ought to, in an ideal world, contain the requisite years of experience, the required skill set, the domain of the project, KRAs, and so forth.
  3. Examine Your Java Certifications There are many different kinds of Java certifications, and typically, Java developers will earn them to confirm their expertise and demonstrate that they are technically valuable. The recruiter saves a lot of time by having an in-depth grasp of these qualifications, which helps eliminate unsuitable applicants during the basic screening process itself.

What qualities must a Java developer have when you hire?

  1. Skill evaluations

It is necessary to do skill evaluations correctly: In an ideal world, the potential Java developers would have some familiarity with the languages, frameworks, and tools that are used by the JVM when it comes to developing, testing, and designing Java applications. A solid foundation of advanced-level object-oriented features and ideas is also required, in addition to the aforementioned need. Arranging for a developer to have a technical interview with either the team lead or the project manager is one way to evaluate the developer’s talents and level of technical expertise. In addition to this, his coding and debugging abilities need to be evaluated through the use of a practice round. This helps us determine the quality of the candidate’s code, which is another aspect of the evaluation.

  1. A superb cultural fit

No matter where you are in the recruiting process, a red flag should be raised if a Java programmer has the requisite Java competence but lacks the mindset to fit with the culture of your organization. This is the case even if they have the necessary Java expertise. During the interview process, Java programmers have the opportunity to exhibit their skills; but, before you offer them a contract, you should require that they meet with other members of your team. If you don’t sense a connection with that individual, it’s possible that they aren’t the right fit for you. When looking to hire a Java developer, finding someone who is a good cultural fit for your team should be one of your top priorities. You may need to broaden your search to find someone who can contribute to your team right away, so be prepared to do so. However, bear in mind that locating a Java programmer who is compatible with the culture of your business is not only essential when making new hires, but is also something to consider in the market for contract work. 

You may be able to find Java programmers who will remain with you for long-term projects and maybe even become permanent fixtures if you take the additional time necessary to verify that they are a cultural match inside your company.

  1. Problem-solving skills

Every Java programmer needs to have the ability to produce, deploy, and effectively manage code. In addition to these primary roles, they should also be responsible for fixing any problems that come up throughout the testing cycle and delivering implementable solutions. When making hires, you won’t only be able to glance at a candidate’s CV to identify whether they have the characteristics you want in a Java programmer; you’ll need to go deeper. To find out, you should put them through a technical exam in which they have to show their ability to solve problems. However, regardless of how capable a Java programmer is, if they fail to include any advanced techniques in their CV, you should be sure to investigate further to see whether they fit your requirements.

  1. A flexible technique for Java programming

Even if a certain set of skills may be necessary, it could be more beneficial in the long term to take a broader perspective and focus on recruiting for the future. If you do not do a thorough study of a candidate’s curriculum vitae while searching for the right Java programmer, you may find out that they have only worked with a single version of Java, which is probably not a suitable match for your company if you want to grow it. Even if a Java programmer has only ever worked with a single platform in their previous job, a developer who is passionate about their profession will make the effort to learn new skills that will help them in the long run. This is because new skills will help them stay competitive in their field.

Examine the perpetual and signed agreement marketplaces for a Java programmer who can exemplify technical ability while also being encouraged to gain new methods and widen on theories of Java knowledge. This will help you avoid hiring a one-trick developer and ensure that you are not hiring someone with limited Java knowledge.

Why Java Outsourcing?

Even while Java is the technology of the moment for major corporations and firms that often choose to engage a specialized Java developer to instantly solve any challenges related to Java, there are a variety of benefits to engaging an external agency for the development of your software. Work in Java development is often outsourced by businesses to make cost and time savings, and frequently to make up for a lack of in-house technical skills. As a result of the vast skill pool of software engineers available in a variety of locations, outsourcing Java projects have become more popular. 

Outsourcing has several benefits, some of which are listed here 

  1. If one chooses to outsource the Java development assignment, then the entire cost of the project will be reduced by a significant amount.
  2. There is no need for one to spend money on technology, elaborate systems, or infrastructure.
  3. While the team you outsourced to works on the project, you will have a lot more free time on your hands, which will allow you to concentrate on other important responsibilities.
  4. The selection of the team is a challenging undertaking, and the cost of the project will increase with each incorrect pick. Because you outsourced this task, you no longer have to worry about it.
  5. Talking to the customer support team at any time is the best way to have one’s questions answered.
  6. You are no longer responsible for HR or administrative matters. You just need to keep an eye on how the project is moving along as a whole.
  7. You do not have to make concessions because of the technological inefficiencies involved since you have the legal right to request a certain feature for the project.
Categories
Tips

Why Finding Programming Jobs is Difficult

A few years ago, I started guest lecturing and volunteering at a few of the coding bootcamps here in Chicago. I had a very non-traditional job search process (more on that in a minute), so it was surprising to me that so many new grads had a tough time finding their first roles.

Since then, I’ve realized that job hunting isn’t just hard for new software developers. There are virtually endless threads on Reddit (1, 2, 3, 4) bemoaning the process and how arbitrarily good programmers are rejected without reason after putting dozens of hours into the process.

In short, it’s demoralizing, but I’ve been on both sides of the table.

In my 12+ years in tech, I’ve been a software developer, an engineering manager, a CTO, and a founder. I’ve been in the hiring seat and the job-seeker’s seat at various times, and like many of you, I think most companies’ hiring systems are deeply flawed.

That said, there are ways to navigate it or work around it entirely. As an applicant, understanding how the system works and playing to your strengths can help make it a lot easier on yourself. So, in this piece, I’ll break down the hiring process from an employer’s perspective. I’ll share some of the reasons this process is so annoying (on both sides) and offer my perspective on how both sides can navigate it.

Why Is Job-Hunting So Difficult for Software Engineers? 

There are a number of factors at play in making job-hunting as hard as it is. Here are just a few factors:

1. Oversupply of Junior-Level Developers

Finding your first role is particularly hard for entry-level programmers, since the vast majority of openings are for mid or senior-engineers with 5+ years of experience. But, employers are somewhat justified because junior developers can be a risky bet.

Hiring a new software developer can cost tens of thousands of dollars. Add to that onboarding and training costs — which are significant for someone who’s completely new to the field — and it’s easy to invest $30,000 or more before they’ve added a line of production code.

Now imagine you make a bad hire.

It takes 8.8 weeks to dismiss someone, does damage to the hiring manager’s reputation, hurts morale, and the company has to recruit for that position all over again. Bad hires mean a lot of money and time is wasted, and most employers are extremely risk-averse (read fearful).

As a result, companies tend to be biased toward experienced candidates who are familiar with the language and frameworks they use. They tend to want proven contributors who are used to working in a professional environment and know all the tools of the trade.

I’m not saying this is right, but this is the economic case that any junior applicant is fighting against.

2. Outdated Hiring Practices

A lot of the frustration also stems from the fact that many steps in the process are not relevant to the actual job. Instead of testing for skills and knowledge applicable to their day-to-day work, applicants are made to jump through arbitrary hoops that often leave non-traditional and diverse candidates struggling.

> “But honestly, as an ACTUAL senior software developer, why do I have to brush up on things that don’t come up in the day to day often?” – Anonymous

Applicant Tracking Systems

For starters, ATSs, which are meant to help facilitate the hiring process and save everyone time, can be a huge barrier. Job seekers have to upload their resume and then fill out the exact same information all over again in most ATSs.

What’s more, many recruiters use these systems blindly.

Most ATSs will parse an application for keywords to determine if a candidate is qualified. If somebody wrote into their application that they’ve used Scala before, but they didn’t explicitly write that they’ve used Java, the ATS might tell the recruiter that they don’t know Java. A real engineer would know that the are closely related enough to be interchangeable in many environments, but naive recruiters may not.

This leads candidates to use hacks like (Amit Juneja’s here) to manipulate ATSs to get more positive replies.

While employers might save time using these tools, they’re clearly missing good candidates who just don’t know (or care) enough to game the system correctly.

Whiteboarding Sessions

Termed “whiteboard algorithm hazing” by David Heinemeier Hansson, the creator of Ruby on Rails, whiteboarding is one of the most aggravating experiences for job seekers.

This interview style, which is widely used by tech companies like Google, Facebook, and Amazon, asks candidates to spontaneously regurgitate any one of hundreds of algorithms that were last useful maybe 50 years ago. They’re asked to write out these algorithms on a whiteboard with no access to an IDE or any reference material.

Spoiler alert: this is nothing like the work that real programmers do.

In the job, they’ll get to work on their own computer using reference materials and all sorts of assistive devices. I’d argue that it’s more important that developers know how to actually look things up quickly on Stack Overflow than repeat algorithms by memory, but that’s just me.

Hanssen says as much in his blog: “I’ve known fabulous programmers flame out in the quizzing cage and terrible ones excel. So unless you’re specifically hiring someone to design you the next sorting algorithm, making them do so on the white board is a poor gauge of future success.”

So why do companies default to this method of weeding out applicants?

Some of it is laziness. Many managers do whatever the policy dictates rather than improve the policy. For others, it’s likely a form of elitism or bias. Many companies want to limit their applicant pool to people with more traditional computer science backgrounds rather than those with self-taught or bootcamp experience.

In any case, whiteboarding has forced many applicants to spend months brushing up on arcane programs like maze solving algorithms or the longest possible Collatz sequence, hoping that they get tested on one of those during their interview.

It has also spawned an entire industry of Online Judges — platforms where applicants can solve problems and spend time on coding exercises. LeetCode, HackerRank, and CodeForces are some of the most popular ones out there. It’s a lot like SAT prep for a job, except that you have to go through it again every time you want to change your job.

3. Job-Skills Mismatches

Finally, I see many developers struggling in the job market because they don’t have the right skills. This problem affects new and experienced developers.

For example, if you’re a senior developer who’s built a career working in PHP, but all the best companies are looking for Python or Golang developers, you’re going to have a hard time getting offers.

This goes back to point 1, but companies don’t want to spend money and time cross-training new hires. It’s expensive and risky, so they favor candidates who already have the skills they think their job needs.

The problem is that for many developers with a full-time job, family, and other commitments, it’s very hard to spend time learning a new programming language on the side. Keeping up with all the new technologies in this industry is one of the most common challenges of working in this industry.

So How Do I Get Hired? 

While there are movements being made against some of these arbitrary recruitment practices, many big companies have stuck with them. So in the meantime, how do you get hired and not get discouraged throughout the job hunt?

Here are a few pointers from my experience as a job seeker as well as conversations with fellow engineering managers:

1. Network, Network, Network

If you want to avoid the black hole of online applications, you need to build a network and reach out to people. I spend between four to eight hours every week building and maintaining my network.

Networking got me my first job right out of college and every subsequent job I’ve had since then. 

I started attending conferences and meetups very early in my career. As I began making connections, people started inviting me to speak at meetups and bootcamps, even though I was relatively early in my career.

I even kept track of all the people I met and got in the habit of reaching out to reconnect with them periodically. These efforts helped me avoid much of the chaos of traditional recruitment throughout my career. 

In a recent podcast on this topic I recorded with Taylor Dorsett, Software Engineer at Home Chef, he recommended treating each meeting as a learning process, especially when you’re young. “Can I learn something from this interview? Even if I fail at the coding problem, can I connect with this individual and learn something? [Through this] I actually had really good conversations with people and interacted a lot more afterwards.”

This mirrors my own experience. Even if the people I met weren’t looking to hire at the time, I stayed in touch. When they were hiring, I was the first person they thought of.

Whether you’re an entry-level programmer trying to get a foot in the door or an experienced one trying to find the right role, networking will make it a lot easier on you.

2. Contribute to Open-Source Projects

Another way you can distinguish yourself as a candidate is to get involved in a larger, existing project. There are plenty of open-source projects you can contribute to, and you don’t have to make major updates to help. Even bug fixes and documentation updates are valuable contributions!

As an employer, this practice shows me that you can learn an existing codebase, interact with others remotely, and think critically enough to make updates. Greenfield projects are rare in the real world, so showing that you can play well with an existing codebase is a huge asset.

3. Practice Intentionally

If you want to get hired, you have two options:

One: you can limit your search to companies which don’t have annoyingly arbitrary interview practices. Four Square, for instance, has ditched whiteboard interviews in favor of assignments you can take home. Pivotal Labs offers an engaging paired-programming interview style. Networking can help you connect with managers at a number of these companies, but believe me, there are plenty of them out there.

Two: you can spend a couple of hours every week practicing coding interviews. Doing LeetCode exercises is a grind, but you will get better at them over time. Platforms like AlgoMonster and Educative can also help you learn in a more structured way by understanding the patterns rather than memorizing the answers.

You can also practice with mock interviews. I haven’t used it, but Interviewing.io is a well-respected resource where you can anonymously practice interviews with Facebook and Google engineers.

4. Share What You Know

Finally, if you’re looking to stand out from other candidates and have more opportunities come to you, educating others is a great option.

Writing tutorials, recording YouTube videos, or creating an online course is a great way to build your personal brand and prove that you’re worth hiring. I wrote regularly my whole career as an engineer, and many of the blog posts I wrote led to job offers, consulting work, or new connections. Honestly, it’s why I still write pieces like this one, and it led me to create my current company, Draft.dev.

Sharing your knowledge is a great way to help others while showcasing your skills and building an online presence.

Conclusion

The software development field is still growing exponentially and there’s a significant shortage of qualified talent in the space. 

While job hunting can be a huge pain, this is still a good field to be in. But if you’re picky, you may just have to fight a little longer to find that perfect role. Meeting new people and building a body of work you can showcase is a tried-and-tested hack to stand out as a candidate. 

If you found this article helpful or have thoughts of your own, I’d love to hear them. Leave a comment or find me on Twitter to continue the conversation.

Categories
Community Tips

The Rise and Fall of Web Frameworks

Web frameworks speed up and simplify the web development process by providing developers with a set of high-level APIs that allow abstract access to underlying system resources and other low-level functionalities. In this article, we look at how web frameworks have risen or declined in popularity, and we explore the profiles and technology use of the developers who use them. 

The big picture of web usage framework

Born out of the necessity to provide consistent web experiences, frameworks revolutionised how web developers create our online world. With standardised approaches to development and framework-specific communities available for support, they are still a popular choice amongst web developers. According to our survey data, 60% of web developers use either client-side or server-side frameworks. 

Indeed, web frameworks often present a time-saving option for web developers to do their jobs in simple and efficient ways. When turnaround times are tight, developing a website or a web app from the ground up may not necessarily be the best option, particularly when working with demanding clients. Indeed, when we look at deployment frequency, lead time, and time to restore service, framework users are likelier to be at the elite efficiency level. 12% of web developers who use frameworks deploy their code on demand, 8% have a lead time of less than an hour, and 51%take less than a day to restore service. For web developers who don’t use frameworks, 9% deploy their code on demand,5% have a lead time of less than an hour, and 43% take less than a day to restore service.

“Web developers using frameworks are more likely to deploy code on demand, have smaller lead times, and are quicker to restore service”

However, there are disadvantages to using frameworks. For example, it is unlikely that one framework will provide everything a web developer needs, just as it is unlikely that a web developer will use everything that a framework or a library has to offer. The proliferation of different frameworks with different standards and guidelines only further muddies these waters. In this case, it may be easier to stick to one or two frameworks and supplement their use with custom code rather than creating a bloated working environment. 

Indeed, that’s what our data shows–the share of web developers using three or more frameworks is gradually dropping. Now, the average number of frameworks used is approximately the same for developers of all experience levels, around 3.2. However, usage habits change depending on specific years of experience–and may give an indication of what’s in store for the future of web development. 

For example, those with less than five years of experience are more likely to use one framework (22%) than those with six years or more (17%). While age is not necessarily correlated with experience, we see a similar trend for those aged 24 and under(22% use one framework) compared to those 45 and above(17%). 

We can take a look at specific frameworks to see who is using what. React is by far the most popular client-side library, as it is used by 58% of web developers who use client-side web frameworks. React’s stable popularity as a library is contrasted by jQuery’s decline, which has experienced a 13 percentage point drop in usage in the past 12 months. Comparing the two, React is perhaps more capable of handling the modern web development environment–it’s faster, has a larger library of npm packages and is efficient at creating larger web applications.

Who are the developers using jQuery? 

Looking closely, we find that those with more than 11 years of web development experience are nine percentage points more likely to use jQuery than those with less than ten years (49% vs 40%). Similarly, these seasoned web developers are less likely to use React(52%) compared to their peers (58%). As jQuery was created nearly a decade before React, it makes sense that those with more web development experience are sticking to what they know. 

“Experienced developers are more likely to use jQuery and less likely to use React than their peers”

What about server-side frameworks?Next.js and Spring have been on the rise in the past 12 months.Next.js’ and their popularity is likely linked with React–after all, Next.js is a framework built upon React. Infact, 86% of those who use Next.js also use React; for comparison, only 45% use jQuery. As for Spring–a Java-based framework–itsincrease in usage may be explained by a similar increase in Java use amongst web developers–8 percentage points in the past 12 months (27% vs 19%). 

A frameworks user mindset

What does framework use mean for the technology use of web developers? If a web developer is forced to configure or write an application in a particular way, it may narrow their skillset as it forms a reliance on a particular architecture. When we look at the web developer population, it seems that those who use frameworks are actually more likely to be self-driven, have technical skills, or use web technologies when compared to those that don’t use frameworks. 

Framework users are more likely to have learnt how to code through self-education (66% vs 55%) and are more likely to manually download packages from npm(45% vs 36%). Similarly, they are more likely to use each of the top-ten web development technologies listed in our survey.

“Web developers who use frameworks are much more likely to have learnt to code through self-education”

Of these technologies, continuous integration/deployment (CI/CD)services are particularly worth mentioning–framework users are more than twice as likely to use these compared to non-framework users. As we’ve previously highlighted, framework users are more efficient when it comes to code deployment. However, framework users that also use CI/CD tools are 5 percentage points more likely to deploy on demand (15%) than framework users who don’t use CI/CD tools (10%).

Finally, while the share of web developers who use low-code or no-code tools has increased by 9 percentage points in the past six months (54%)–for framework users this share is 40%. This corresponds to an increase of only 5 percentage points in the same timeframe. In other words, those who are using frameworks are more likely to rely on old-fashioned coding by hand and have the skills to do so.

Access research reports that highlight key current and emerging development trends, expertly narrated by our analysts, based on the data from our global surveys by joining the community. Click here to join.

Categories
Tips

11 Tips And Tricks To Write Better Python Code

Here are 11 tips and tricks that will help you write better Python code and become a better programmer:

1. Iterate with enumerate instead or range(len(x))

In Python, we generally use a for loop to iterate over an iterable object. A for loop in Python uses collection based iteration i.e. Python assigns the next item from an iterable to the loop variable on every iteration. The usual usecase of a for loop is as follows:

values = ["a", "b", "c"]

for value in values:
  print(value)

# a
# b
# c

Now, if in addition to the value, you want to print the index as well, you can do it like this:

index = 0

for value in values:
  print(index, value)
  index += 1

# 0 a
# 1 b
# 2 c

or another common way to do this is by using range(len(x)):

for index in range(len(values)):
  value = values[index]
  print(index, value)

# 0 a
# 1 b
# 2 c

However, there is an easier and more pythonic way to iterate over iterable objects by using enumerate(). It is used in a for loop almost the same way as you use the usual way, but instead of putting the iterable object directly after in in the for loop, or putting using it as range(len(values)) , you put it inside the parentheses of enumerate() as shown below:

for count, value in enumerate(values):
  print(count, value)

# 0 a
# 1 b
# 2 c

We can also define a start argument for enumerate() as shown below :

for count, value in enumerate(values, start=1):
  print(count, value)

# 1 a
# 2 b
# 3 c

The enumerate() function gives back two variables:

  • the count of the current iteration
  • the value of the item at the current iteration

Just like the loop variables in a for loop, the loop variables can be named anything, for instance, we can call then index and value and they’ll still work. enumerate() is more efficient than a for loop as it saves you from the hassle to remember to access the value inside the loop and use it correctly and then also remember to advance the value of the loop variable, it is all handled automatically by Python.

2. Use list comprehension instead of raw for loops

List comprehension is an easier and elegant way to define an create lists based on the existing lists. They are just a single line of code consisting of brackets containing the expression that is repeatedly executed at each iteration. Hence, they are more time and space efficient than loops and transform iterative statements in a single line of code.

The usual syntax of a list comprehension looks like this:

newList = [ expression(element) for element in oldList if condition ]

Here’s an example of list comprehension in code:

# Using list comprehension to iterate through loop
List = [character for character in 'HackerNoon']
 
# Displaying list
print(List)

# Output
# ['H', 'a', 'c', 'k', 'e', 'r', 'N', 'o', 'o', 'n']

3. Sort complex iterables with sorted()

The Python sorted() function sorts the elements of an iterable object in a specific order (ascending or descending) and returns them as a sorted list. It can be used to sort a sequence (string, tuple, list) or collection (set, dictionary, frozen set) or any other iterator.

The syntax of the sorted() function is as follows:

sorted(iterable, key=None, reverse=False)

sorted() function takes at max three parameters:

  • iterable: It could be any iterator
  • key: It is an optional argument that serves as a key for sort comparison.
  • reverse: It is also an optional argument that is used to specify a reversed sorted list as the output

4. Store unique values with Sets

A Python Set stores a single copy of the duplicate values into it. Hence, it can be used to check for unique values in a list. For example:

list_inp = [100, 75, 100, 20, 75, 12, 75, 25] 

set_res = set(list_inp) 
print("The unique elements of the input list using set():\n") 
list_res = (list(set_res))
 
for item in list_res: 
    print(item)

So the output of the above program would look like this:

The unique elements of the input list using set():

25
75
100
20
12

5. Save memory with Generators

The basic function of the generator is to evaluate the elements on demand. It is very similar to the syntax for list comprehension, where instead of square brackets, we use parentheses.

Let’s consider an example where we want to print the square of all the even numbers in a list:

myList = [1, 2, 3, 4, 5, 6, 7, 8, 9, 10]
print("The given list is:", myList)
mygen = (element ** 2 for element in myList if element % 2 == 0)
print("Elements obtained from the generator are:")
for ele in mygen:
    print(ele)

The output of the above code would look like this:

The given list is: [1, 2, 3, 4, 5, 6, 7, 8, 9, 10]
Elements obtained from the generator are:
4
16
36
64
100

Having said that their syntax is quite similar to list comprehension, you must be wondering how it is different from list or set comprehension. Unlike list or set comprehension, generator comprehension does not initialize any objects. As a result, you may utilize generator comprehension instead of list or set comprehension to lower the program’s memory requirements.

6. Define default values in Dictionaries with .get() and .setdefault()

.setdefault() method allows to set dict[key]=default if key is not already in dict.

The syntax of .setdefault() looks like following:

dict.setdefault(key, default=None)

Here’s an example code snippet to understand how to use .setdefault():

a_dictionary = {"a": 1, "b": 2, "d": 4}
a_dictionary.setdefault("c", 3)

print(a_dictionary)

The output of the above code would look like:

{'a': 1, 'b': 2, 'd': 4, 'c': 3}

The same thing can also be achieved by using .get() method by passing a default value for the key, as you can see below:

a_dictionary = {"a": 1, "b": 2, "d": 4}
print(a_dictionary.get("c", 3))

print(a_dictionary)

The output of the above code would look like following:

3
{'a': 1, 'b': 2, 'd': 4}

7. Count hashable objects with collections.Counter

The Collections module supports high-performance container datatypes (in addition to the built-in types list, dict, and tuple) and contains a variety of useful data structures for storing information in memory.

A counter is a container that keeps track of the number of times equal values are added.

It may be used to implement the same algorithms that other languages employ bag or multiset data structures to implement.

Import collections makes the stuff in collections available as:

import collections

Since we are only going to use the Counter, we can simply do this:

from collections import Counter

It can be used as follows:

import collections

c = collections.Counter('abcdaab')

for letter in 'abcde':
    print '%s : %d' % (letter, c[letter])

The output of the above code would look like this:

a : 3
b : 2
c : 1
d : 1
e : 0

8. Format strings with f-Strings (Python 3.6+)

f-strings, also called as “formatted string literals“, are a new and more pythonic way to format strings, supported by Python 3.6+. They are a faster, more readable, more concise, and a less error prone way of string formatting in Python.

As the name “f-string” says, they are string literals that have an f at the beginning and curly braces containing expressions that will be replaced with their values at the runtime and then formatted using the __format__ protocol.

f-strings can be used as following:

name = "Eric"
age = 74
print(f"Hello, {name}. You are {age}.")

# 'Hello, Eric. You are 74.'

9. Concatenate strings with .join()

In Python, we can use the .join() method to concatenate a list of strings into a single string. The usual syntax for this method looks like below:

'String to insert'.join([List of strings])

It can be used in multiple ways — if you use the empty string ““, [List of strings] is simply concatenated, and if you use a comma, a comma-delimited string is created. When the newline character \n is used, a newline is appended after each string. See the example below:

l = ['aaa', 'bbb', 'ccc']

s = ''.join(l)
print(s)
# aaabbbccc

s = ','.join(l)
print(s)
# aaa,bbb,ccc

s = '-'.join(l)
print(s)
# aaa-bbb-ccc

s = '\n'.join(l)
print(s)
# aaa
# bbb
# ccc

10. Merge dictionaries with {**d1, **d2} (Python 3.5+)

The easiest way to merge dictionaries is by using the unpacking operator (**). The syntax for this method looks like this:

{**dict1, **dict2, **dict3}

Here’s an example to understand this method better:

d1 = {'k1': 1, 'k2': 2}
d2 = {'k3': 3, 'k4': 4}

print({**d1, **d2})
# {'k1': 1, 'k2': 2, 'k3': 3, 'k4': 4}

11. Simplify if-statements with if x in list

Assume we have a list with the primary colours red, green, and blue. And somewhere in our code, we have a new variable with a colour, so c = red. Then we’ll see if this is one of our primary colours. Of course, we might check this against each item on our list as follows:

colors = ["red", "green", "blue"]

c = "red"

# cumbersome and error-prone
if c == "red" or c == "green" or c == "blue":
    print("is main color")

However, this may become quite time consuming, and we can easily make mistakes, such as if we have a typo here for red. It is more simpler and far preferable to just use the expression if x in list:

colors = ["red", "green", "blue"]

c = "red"

# better:
if c in colors:
    print("is main color")

Conclusion

Python is a widely used programming language and by using the above tips and tricks, you can become a better Python programmer.

I hope this article was helpful. Keep reading!

Categories
Community Tips

The importance of the development of AI in your professional career

There is no longer a stage in the creation of artificial intelligence when the technology is in the experimental phase with minimal proof of concept. Organisations all over the globe are struggling with how to incorporate it into their culture and locate the appropriate individuals to lead artificial intelligence and machine learning initiatives because they are aware that it is a force that must be reckoned with.

According to research, sixty percent of Indian businesses are under the impression that Artificial Intelligence (AI) would have a disruptive effect on their industry over the next two to three years. According to a survey, the number of available positions in the fields of analytics and data science has increased by thirty percent between April 2021 and April 2022.

The rapid advancement of artificial intelligence and automated systems is opening up prospects for companies, the economy, and society.

Automation and artificial intelligence have been around for some time, but current technological advancements are expanding the capabilities of machines to perform more and more. According to the findings of our study, society needs these advancements to create value for companies, contribute to economic development, and make progress on some of the most challenging social issues that we face.

The rise of AI and new jobs

Although the technologies of the Fourth Industrial Revolution, powered by AI, will continue to dramatically transform the world and the way we work and live, it is possible that AI may not result in a significant rise in employment. Instead, artificial intelligence will result in the creation of more employment than it eliminates via automation.

These newly generated positions will call for new skills, which in turn will entail considerable investments in upskilling and reskilling programs for both young people and adults. However, private companies and public administrations may – and are obligated to – collaborate to confront this transition and welcome the beneficial effects of AI on society.

According to the Global Artificial Intelligence Study conducted by the year 2030, AI would cause a software projected rise of $15.7 trillion, or 26 percent, in the total GDP of the world. The expansion of GDP will be driven by consumer spending to the tune of around sixty percent, with increased productivity accounting for approximately forty percent of the overall expansion.

Reskilling and Upskilling

For corporations and authorities to reap the advantages of AI in terms of productivity and profitability, they will need to work together on huge reskilling and upskilling initiatives. These projects will assist workers in retraining and preparing for new and upcoming employment opportunities.

Artificial intelligence can automate 3 percent of employment opportunities over the next few years. Increased digitalization brought about by COVID-19 may speed up this process. As artificial intelligence develops and becomes increasingly self-sufficient, thirty percent of all employment and forty-four percent of people with low levels of education will be in danger of being automated by the middle of the twenty-third century.

According to the World Economic Forum, during the next five years, almost half of all employees will need some kind of further training or retraining to be adequately prepared for changing and new employment opportunities. The fast speed of technological progress necessitates the development of new models for employee training to adequately prepare workers for a future dominated by AI.

The development of workers’ soft skills, which can’t be replicated by artificial intelligence, should be a priority for businesses. It seems probable that the importance of creative thinking, leadership and emotional intelligence will only continue to rise in our ever-changing world.

Since 2018, AI and IoT have managed to land in the top 3 on the list of Emerging Technology Top 10, and with valid reasons that showcase the strength of AI and IoT, alternatives are abundant SUCH helping businesses generate productivity improvements, end up saving time, and raise profits. In other words, AI and IoT are helping businesses create a better future.

Businesses seek managers who can embrace the power of artificial intelligence to make successful business choices that may reform ineffective business models and establish new ones that can have an oversized benefit as the competency of AI continues to rise. With proper training and appropriate programs applicants can make their career in AI may explore the concept of combining value creation and value appropriation in corporate CRM Development Company and changing current organizational procedures and offers.

Author Bio – Ethan Millar is a technical writer at Aegis Softtech especially for computer programming like Asp.net, Java, Big Data, Hadoop, dynamics AX, and CRM for more than 8 years. Also, have basic knowledge of Computer Programming.

Categories
Tips

Are you an enterprise developer?

We often come across the term “Enterprise Developers” and even more often, we ask ourselves questions about their profile, from basic demographics to purchasing decisions. But who is an Enterprise Developer? According to SlashData, large enterprise developers as those who work for organisations with between 1,000 and 5,000 employees and very large enterprise developers as those who work for organisations with more than 5,000 employees. Non-enterprise developers are those that remain.

How many enterprise developers are out there?

In Q1 2021, SlashData estimated that there are 1.5M enterprise developers working in large organisations, and 2.0M working in very large enterprises. Between Q1 2020 and Q1 2021, there was a 21% year-on-year growth in the large enterprise population, while the very large enterprise population increased by 18%. This is impressive growth, considering that the non-enterprise population showed only 10% growth over the same period. However, for the large and very large enterprise population, the immediate picture is one of stability: in the last six months, it has remained practically unchanged. Considering that the biggest tech companies an important proportion of very large enterprises have benefited from the economic situation caused by the pandemic, it is somewhat of a surprise that the very large enterprise population hasn’t increased. Perhaps there is a backlog of hiring splurges that have yet to show up in the data or these companies are remaining cautious and waiting to see how the pandemic plays out before committing to hiring more employees.

Where in the world are they located?

If we break down the enterprise populations by region, we find that 22% of software developers in South Asia are very large enterprise developers. These enterprises are likely using their global connections to capitalise on price here: the median per-hour cost for Android development in India, a large hub for app development, is $30. In North America, the rate is five times as high. For example, SAP, the largest non-American software company by revenue, has based its largest R&D lab outside Germany, in India. In absolute terms, most developers working at very large enterprises are to be found in North America (27%) and Western Europe (26%). South Asia takes third place, with 17% of all very large enterprise developers working in this region. North America, Western Europe, and East Asia are the stage for large enterprises, with 28%, 24%, and 17% of the large enterprise population respectively.

Which sectors or industries are they working on?

Most developers are involved in web apps: more than 6 out of 10 developers are involved in the sector. However, developers are often involved in more than one sector. In fact, around three-quarters of developers are involved in more than two sectors, while around 15% engage in five or more sectors. Besides web apps, enterprise developers are dominated by their involvement in the backend sector: 56% of very large enterprise developers and 51% of large enterprise developers
work in this sector. This is compared to the 45% of non-enterprise developers who work in the backend sector. Enterprise businesses typically have more sophisticated needs that warrant engaging backend developers. With the myriad of resources at their disposal, enterprises are more easily able to develop large-scale, connected products with complicated backends, IoT devices, for example. Backend developers are required to achieve these goals.

The opposite trend is observed in mobile apps: 40% of non-enterprise
developers work in this field, while just under a third of enterprise developers do. The relatively short scope and scale of mobile app development make small business engagement in this sector achievable. For enterprise companies a mobile app, or a web app, is only one small part of a giant machine of software; but for smaller
organisations, the mobile or web app might be the entire product. Web apps, backend services, and desktop apps the top three sectors enterprise developers are involved should be explored in greater detail.

Attitudes and engagement

Open source has become a ubiquitous part of developer culture, embodying the widely venerated values of sharing code, knowledge, and best practices among peer developers. These days, many open source projects are vendor or corporate owned and maintained. Developer attitudes towards contributing to these open source projects differ, but across the non-enterprise/large enterprise/very large
enterprise divide these differences are subtle. Large enterprise developers are slightly more likely to contribute to corporate-owned, open source to improve their positions in the software food chain: 17% are motivated by their desire to get noticed by the company.
Meanwhile, very large enterprises are slightly more likely to
have developers buy into the company ethos: 20% of developers working at these organisations wish to contribute to something that has the company’s backing to succeed.

Non-enterprise developers tend to favour reasons relating to improving their skill set: 47% wish to learn to code better. Compare this to large enterprise developers, of whom 42% are motivated by learning to code better. Around one-fifth of all developers are united by the desire to build community support; while just under a third of all developers advocate for a more open software society, contributing to corporate-owned, open-source projects because it’s “something bigger than me”. However, moving from attitudes to economic engagement, the differences between large, very large, and non-enterprise developers tend to be more pronounced regarding practical engagement within an organisation.

“Those who control the money”

There are many tiers of enterprise developers: these range from those high up in a business hierarchy that makes or influences purchasing decisions, down to developers who are not involved at all in these selections. The breakdown of developers according to economic decision-making power within an organisation differs across the non-enterprise/large enterprise/very large enterprise divide.

Just over a quarter of large enterprise (27%) and non-enterprise developers (26%) are economic decision makers for their team or company, with the ability to make the final
selection decision for tools, approve expenses on tools and components, and/or approve the overall team budget for tools. Not all of these economic decision-makers can approve budgets or expenses, but whether they are decision-makers for their team or company, they are all empowered to make tool selection decisions.

Comparing these segments to very large enterprises, where only 18% of developers can make purchasing decisions, demonstrates that decision-making power tends to concentrate at the top of the hierarchy in larger organisations. In agreement with this analysis, 31% of developers who work at enterprises are separate from purchasing decisions. In comparison, this drops to 25% and 17% for large and non-enterprise developers, respectively.

So are you an Enterprise Developer?
Did you see yourself fitting in the data above? Then you probably are an Enterprise Developer. If you want to help the ecosystem grow, you can join our community of software creators by clicking this link.

Categories
Tips

The Top 5 Reasons Enterprises Should Adopt Virtual Reality

As technology advances and becomes mainstream, more enterprises are now incorporating virtual reality in their project planning after years of development. When talking about VR technology, we often think they are associated with entertainment and video games. However, the continuous popularity of VR makes it beneficial across all industries. Experts said we could expect the VR market to grow from $6.3 billion in 2021 to $84 billion by 2028.

At first, many are skeptical about how VR will impact the business industry. But the arrival of tech giants like Google, Facebook, HTC, and Samsung in the VR scene demonstrated and guaranteed that this technology could be the future. Enterprises now see that adopting VR technology is a helpful way to create innovative and sustainable workplaces. This article will tackle the top 5 reasons enterprises should adopt virtual reality.

Why Should Enterprises Adopt Virtual Reality?

Enterprises see a lot of possibilities in VR, including the ability to revolutionise work processes, provide customers with world-class experiences, train staff members, and more. A person may perceive and engage with an immersive virtual environment thanks to VR technology. To further understand, here’s a deep-dive:

Immersive Training in Virtual Worlds

Training your employees using VR technology is an excellent way to let them gain experiences safely. The ability of virtual reality to create immersive real-life scenarios allows employers to be risky when it comes to giving training exercises, as there will be no repercussions in the process. When something goes wrong, all you have to do is to push the reset button. 

The 3D simulation of VR technology helps employees to be more engaged and participate actively in training. Startups are prone to cyber threats. That’s why navigating data loss prevention through simulations is the best way to understand security tips for startups without any potential risks.

They are already applying this in the medical field, where surgeons do complex operations on children. Even Walmart does simulation training to prepare employees for Black Friday. Regardless of industry, VR technology offers an engaging, cost-effective platform for training employees.

Effective Prototyping

Developing products can be costly, time-consuming, and risky as it involves a lot of processes and conceptualization without the assurance that they will be successful. Using VR technology will change all of that. 

Virtual reality allows enterprises to utilize these immersive real-life scenarios to visualize and design their products. It prevents wasting your time and money by providing a set of approaches and tools you can use to explore ideas and test the product with less resource usage as you are working on an experimental model. Using VR technology can help avoid complications as you can easily modify and redesign your products whenever you detect problems.

Improved HR  Practices

VR’s seamless, universal connectivity will fundamentally alter how we manage human resources. With access to workers worldwide, hiring procedures will change to ensure employers choose only the best candidates. Prospective candidates can virtually shadow their possible roles as part of the interview process to understand their daily duties. Additionally, one can adopt VR to a range of interactive HR workshops.

Using VR technology can make the recruitment process easy. Large and small-scale companies can utilise this by creating remote offices to interview applicants, hear their responses, and observe their body language.

Redefined Marketing Strategies

By implementing the “try before you buy” idea, businesses may alter advertising and enhance customer engagement. VR services can improve the shopping experience of many and potentially increase the number of visitors to e-commerce sites. With VR, customers can visually “try on” things to see if they match their needs. There is no more buying the incorrect size or style. And when you are ready to make the purchase, you’ll be able to do it virtually.

Volvo has already executed this idea by as offers a VR test drive on your phone. Lacoste has already followed the lead with their AR mobile app, where customers can try shoes virtually. 
Moreover, VR in your marketing strategy can give you an advantage over your competitors, providing efficiency that helps you stay ahead of the competition.

Time-Efficient and Cost-Effective

Time is money, and you may save both with virtual reality services. You can more effectively create and test your products using VR for prototyping, reducing the need for post-production testing. You can save money on corporate travel expenses and promote employee safety by holding meetings virtually.

Bottom Line

There are boundless possibilities in using VR technology for your enterprise. Given the fact that top industries consider virtual reality as part of their operations, which enables its rapid growth across all industries. Despite being a new concept for many, it is safe to say that VR technology is the future of innovative business solutions. 

Virtual reality technology introduces new ways to advance corporate objectives as it develops. Now is the time for your company to establish itself as a pioneer in using this technology, as it will sooner or later gain widespread acceptance among the populace. Those left behind will find it challenging to catch up. But if your company joins in right away, it can quickly position itself ahead of the curve.

Categories
Tips

The State of Metaverse and NFTs

In our most recent (Q3,2022) Developer Nation survey we took a close look at the way developers engage with the Metaverse and NFTs. We explored different levels of engagement (from simple interest to actually working on them) and explored different patterns of interest across other technologies as well as on a regional level. Today we take a look at how developers are engaging with the Metaverse and NFTs. 

“50% developers are interested or involved in the Metaverse some way”

The data shows that developers appear to be more interested in the Metaverse compared to NFTs. Possibly because Developers involved in NFTs are also highly involved in other projects, especially cryptocurrencies like bitcoin.

“45% of developers involved in NFTs are highly involved in other blockchain projects and 55% are working on cryptocurrencies” 

There are more developers learning about the Metaverse (50%) than they are learning about NFTs(20%).  Also, developers working on the Metaverse identified Quantum Computing as the no 1 technology they wish to learn about. 

Here’s a video of us discussing the infographic.

In terms of regional distribution, most developers working on the Metaverse and NFTs reside in North America. 

Find out more in the infographic below. 

Categories
Tips

The Importance and Benefits of using Multi-Factor Authentication (MFA)

MFA

The Internet allows everyone to explore the web and create personal accounts on various platforms, hence, it’s safe to say that email addresses and passwords are the identity of netizens. And because of rampant cyberattacks, users aim to protect themselves from cyberattacks by frequently changing and choosing strong alpha-numeric-special-characters passwords. However, passwords alone aren’t enough to provide adequate data security nowadays.

The volume of data breaches continues to rise without fail as cybercriminals discover new and sophisticated ways to compromise unsuspecting individuals’ accounts. But thanks to recent technological advances, individuals and organisations have the opportunity to utilise multi-factor authentication systems to safeguard their identities and sensitive data.

This highly effective method reduces the consequences of poor password hygiene and prevents identity thefts. In this article, we’ll discuss everything you need to know about the importance of implementing MFA into your day-to-day online activity.

Let’s get started!

All About Multi-Factor Authentication

MFA refers to methods that authenticate whether a user’s identity is genuine. It typically requires a user to provide two or more pieces of factors for authentication purposes along with their usual account password. One of its fundamental objectives is to add several layers of authentication factors to increase security. Software based Two-factor authentication:

Along with passwords one of the most common methods used for 2fa are Time-Based-One-Time Passwords or TOTP. Most common TOTP applications are Google Authenticator and Authy.

These apps provide a unique combination of numeric keys generated by a standardized algorithm to users who sign in to platforms where 2fa is needed along with password. Quite a lot of services including GMail, Github allow adding TOTP 2fa.

Hardware based Two-factor authentication:

On the other hand, users who prefer a stronger MFA method could invest in hardware authenticators like YubiKey. This device, when plugged into your workstation generates a unique code that the service can use to authenticate your identity.

In addition, it’s a more secure system because it’s a hardware device which needs to be connected to a computer while authenticating the user account and it produces more extended codes, making it harder for hackers to guess, without physical access to the device.

3 Types of Authentication Factors

Something you know – knowledge

Of course, the most common knowledge factor is a password. However, there are other types of knowledge factors, such as passphrases, PINs, and security questions. Although these have provided excellent security in the past, they aren’t as effective now that new generations of cybercriminals have surfaced.

Something you have – possession

Possession factors encompass smartphones, hard tokens, soft tokens, smartcards, and key fobs. For example, users typically need to insert smartcards into devices, receive a One-Tip Passcode (OTP) on their smartphones, or receive unique codes from physical tokens.

Something you are – inheritance

Inheritance factors are the unique physical traits that users possess. These are verified through voice or facial recognition, retinal scans, and other striking methods.

The Benefits of Using Multi-Factor Authentication

Effective cybersecurity solution

With an MFA system in place, hackers will have a tough time entering your network because it implements strict security measures. Moreover, you can make hackers’ tasks even more difficult by using strong and complicated passwords, mainly if the MFA is used together with an SSO solution.

Verifies user identity

MFA is a valuable tool for protecting sensitive data against identity breaches and theft. By using this strategy, the security of the traditional username and password login is reinforced by another layer of protection. In addition, cybercriminals will find it difficult to crack the given TOTP because it’s a complex combination that only works for a specific period – typically within seconds or minutes.

Hassle-free implementation

By its nature, a multi-factor authentication system is non-invasive. It wouldn’t affect anything within your device’s virtual space, making way for a hassle-free implementation. In addition, it boasts an intuitive user experience, helping you quickly acclimate to the system.

Meets regulatory compliance

Organisations that use multi-factor authentication are hitting two birds with one stone – data security and compliance risk management. For example, PCI-DSS requires MFA implementation in certain situations to stop unauthorised users from accessing systems. So despite application updates with unattended consequences, MFA compliance ensures that the system remains virtually non-intrusive.

The Takeaway

Now that the world is in the digital age, Internet users continue to face cybercriminals’ deceptive tactics to gain their login credentials. And in this day and age where identity is considered the new perimeter, individuals who don’t utilise multi-factor authentication are playing with fire.

The use of multi-factor authentication is a smart and proactive choice, both for individuals and corporations. So if you’re looking for a convenient, innovative, and efficient way to add another layer of protection to your online accounts, MFA would be your best choice. Do you use any MFA technique ? If yes do tell us about it in the comment section below.

Categories
Tips

A Beginners Guide To Crypto Wallets

Crypto Wallet Guide

Blockchain technology has made digital currency transactions increasingly useful, practical and accessible. However, as the number of crypto users has gone up, so has the rate of cyber theft related to cryptocurrencies. That’s why it’s important to understand how to safekeep your crypto by learning about crypto wallets, how they work and what to look for in one, whether it’s digital or physical.

What is a crypto wallet?

Cryptocurrency wallets, or simply crypto wallets, are places where traders store the secure digital codes needed to interact with a blockchain. They don’t actively store your cryptocurrencies, despite what their name may lead you to believe.

Crypto wallets need to locate the crypto associated with your address in the blockchain, which is why they must interact with it. In fact, crypto wallets are not as much a wallet as they are ledgers: They function as an owner’s identity and account on a blockchain network and provide access to transaction history.

How do crypto wallets work?

When someone sends bitcoin, ether, dogecoin or any other type of digital currency to your crypto wallet, you aren’t actually transferring any coins. What they’re doing is signing off ownership thereof to your wallet’s address. That is to say, they are confirming that the crypto on the blockchain no longer belongs to their address, but yours. Two digital codes are necessary for this process: a public key and a private key.

A public key is a string of letters and numbers automatically generated by the crypto wallet provider. For example, a public key could look like this: B1fpARq39i7L822ywJ55xgV614.

A private key is another string of numbers and letters, but one that only the owner of the wallet should know.

Think of a crypto wallet as an email account. To receive an email, you need to give people your email address. This would be your public key in the case of crypto wallets, and you need to share it with others to be a part of any blockchain transaction. However, you would never give someone the password to access your email account. For crypto wallets, that password is the equivalent of your private key, which under no circumstances should be shared with another person.

Using these two keys, crypto wallet users can participate in transactions without compromising the integrity of the currency being traded or of the transaction itself. The public key assigned to your digital wallet must match your private key to authenticate any funds sent or received. Once both keys are verified, the balance in your crypto wallet will increase or decrease accordingly.

Types of crypto wallet

Crypto wallets can be broadly classified into two groups: hot wallets and cold wallets. The main difference is that hot wallets are always connected to the internet while cold wallets are kept offline.

Hot Wallets

Hot wallets are digital tools whose connection to the internet cannot be severed. Users can access these pieces of software from a phone or desktop computer to monitor their currencies and trade them. Some hot wallets are also accessible through the web or as browser extensions, meaning you can use them on a wide variety of devices.

The greatest advantage of hot wallets is their convenience. Your public and private keys are stored and encrypted on your wallet’s respective app or website, so unless they’re limited to a specific device, you can access them anywhere with an online connection. This ease of access makes them ideal for those who trade more often and are considering spending bitcoins.

Because hot wallets are always accessible online, they also face a greater risk of cyberattacks. Hackers can exploit hidden vulnerabilities in the software that supports your wallet or use malware to break into the system. This is particularly dangerous for web wallets hosted by crypto exchanges, which are bigger targets overall for crypto thieves.

PROS
– Highly convenient, can be accessed from anywhere with an internet connection
– Easier to recover access if you lose the private key than cold wallets

CONS
– Less secure than cold wallets, vulnerable to a wider variety of attacks
– For custodial wallets, your keys are kept on the exchange’s servers

Cold Wallets

Cold wallets store your digital keys offline on a piece of hardware or sheet of paper. Hardware wallets usually come in the form of a USB drive which lets you buy, sell and trade crypto while it’s connected to a computer. With “paper” wallets, your keys may be accessible via print-out QR codes, written on a piece of paper, or engraved on some other material, such as metal.

Cold storage wallets are deliberately designed to be hard to hack. Unless the wallet owner falls for some sort of phishing attack, hackers have no way of obtaining the owner’s keys remotely. For something like a hardware wallet, a thief would first have to obtain the USB drive used to access your crypto and then somehow crack its password.

This high level of security may lend itself to mistakes on the part of wallet owners. If you lose your USB drive or sheet of paper and don’t have your private key backed up somewhere, you’ve effectively lost access to your crypto. Compared to hot wallets, which make it possible to regain access through a seed phrase, recovering access on a cold wallet is impossible in most cases due to the two-key security system.

PROS
– More secure than hot storage wallets due to offline storage
– Many hardware wallets are supported by hot storage wallets

CONS
– Transactions take longer on average
– Nearly impossible to recover currencies without a backup of your digital keys

How to set up a crypto wallet

Setting up a cryptocurrency wallet is a generally straightforward process that takes no more than a couple of minutes. The first step is to determine the kind of wallet you want to use since hot wallets and cold wallets have different set up processes. Then, you’ll need to do the following:

For hot wallets…

Download the wallet. Make sure the wallet is legitimate before downloading any software. Crypto scams are becoming increasingly common and it’s important to know if the company behind a wallet actually exists. For web wallets, verify that you are on the correct website and not on a fake version of it built to steal your information.

Set up your account and security features. If you are using a non-custodial wallet, this is when you’ll be given your private key, a random 12 to 24-word string of words. If you lose or forget these, you will not be able to access your crypto. You can enable added security tools, like two-factor authentication and biometrics, during or after the set up process. The process for custodial wallets is a bit more involved, and you’ll have to undergo a verification process called Know-Your-Customer (KYC) to validate your identity.

Add funds to your wallet. For non-custodial wallets, you may have to transfer crypto from elsewhere, as not all wallets allow you to buy crypto with fiat currency directly. As for custodial wallets, you’ll need to fund them using a credit or debit card before you can purchase crypto, in some cases.

For cold wallets…

Purchase the wallet online. When buying a cold wallet, avoid third-party resellers. Buy the product directly from the developer to avoid issues, such as the device being tampered with beforehand.

Install the device’s software. Each brand has its own software that must be installed onto the hardware device before it can be used. Make sure to download the software from the company’s official website. Then, follow its instructions to create your wallet.

Deposit your cryptocurrency. You’ll need to transfer crypto into your hardware wallet from elsewhere, such as from a crypto exchange. Some wallets may have an incorporated exchange that allows you to trade crypto while the device is connected to your desktop computer or mobile device.

What to look for in a crypto wallet

When looking for a crypto wallet, it’s very important to first ask yourself:

How often do I trade? Will you be trading cryptocurrency daily or just occasionally? Hot wallets are better for active traders due to their speed and practicality. However, active traders may also benefit from a cold wallet by using it as a kind of savings account, keeping the bulk of their currencies there.

What do I want to trade? Are you looking to buy and store Bitcoin or are you interested in different types of cryptocurrency, like altcoins and stablecoins? The crypto wallet you pick should support the currencies you wish to trade and will ideally accommodate any other coins you may want to trade in the future.

How much am I willing to spend? Are you planning on accumulating large amounts of crypto? Hardware wallets are ideal for this sort of activity, but unlike hot wallets (which are mostly free), they require an upfront payment to own the wallet itself. Some hot wallets have higher crypto trading fees but offer faster transactions or greater functionality.

What functionality do I need in a wallet? Do you plan on doing anything specific with crypto beyond simply trading it? For example, traders who want to make money with their crypto passively should look for wallets that allow for crypto lending, staking and deposits.

After exploring the above questions, we put together some general suggestions for what to look for in a crypto wallet:

  1. Supported currencies – The rule of thumb for supported currencies is “the more, the better.” Unless you’re interested in solely trading Bitcoin, we suggest you opt for a wallet that supports at least a few of the more popular altcoins.
  2. Accessible interface – An accessible, intuitive user interface is always welcome, regardless of whether you’re a crypto veteran or a newbie. Look for wallets that don’t make you jump through hoops to start basic trading.
  3. 24/7 customer support – Although more useful for newer traders, having customer support available throughout the day is always a plus. This is especially true for wallets that undergo frequent updates and may suffer from bugs or visual glitches.
  4. Hardware wallet compatibility – Anyone who is seriously thinking about getting into crypto should consider getting a hardware wallet. Even people who don’t trade frequently should consider a hardware wallet to safeguard their most important assets. Investors with a hot wallet that’s compatible with at least one brand of hardware wallet have an advantage, since they can default to the model(s) supported by their wallet and transfer their crypto back and forth as needed.

Investing in crypto prudently

Cryptocurrencies are a new and exciting financial asset. The idea of a decentralized currency independent of the banking industry is enticing for many. The wild price swings can be a thrill, and some coins are simply amusing.

Consider the story of Dogecoin. A portmanteau of Bitcoin and Doge, the currency was a hit on Reddit, a popular social network forums site, and quickly generated a market value of $8 million. DOGE hit an all-time high on May 8, 2021, reaching a market capitalization of more than $90 billion after Elon Musk and Reddit users involved in the GameStop short squeeze turned their attention to it.

For a more sobering example, take a look at Bitcoin — the grandparent of all cryptocurrencies. Bitcoin has experienced multiple crashes throughout its lifespan, but its most recent one has left a lasting impression in mainstream culture. Reaching an all-time high of more than $65,000 in November 2021, its market value has declined as part of a general crypto price drop, briefly dipping under $20,000 in June 2022.

While entertaining, the fact remains that cryptocurrencies are unpredictable assets and should be traded with caution. It’s important to consider the following dangers when asking yourself, “should I invest in cryptocurrencies?:”

Crypto is volatile. A cursory glance at the historical price of Bitcoin is enough to see massive peaks and depressions throughout its lifespan. Just recently, Bitcoin fell under $20,000 in June after having surpassed a value of $69,000 for a single coin in November 2021. The same goes for any other major cryptocurrency. These dramatic changes are not normal compared to the pace at which mainstream assets move.

Crypto isn’t backed by anything. Most coins do not have a natural resource, such as gold, silver or other metals, that is used to track their value. They’re not backed by the government and don’t track the growth potential of enterprises the way stocks and bonds do. This increases crypto’s volatility as a whole.

Cryptocurrencies are also speculative assets, which are riskier due to large fluctuations in price. Many active traders invest in them with the hope of making a big profit after their value dramatically increases in the near future — hopefully before a crash.

Crypto is unregulated. Governments and institutions worldwide are still grappling with how to regulate cryptocurrencies, asking: Do we need specific legislation to regulate crypto assets? Who should regulate crypto? Should it be regulated at all?

While this lack of regulation responds to the nature of crypto and its ethos of freedom, a lack of adequate regulation means consumers are not protected against many crypto crimes and scams. Ultimately, crypto must be studied and handled carefully, as its future remains uncertain.

Personal finance experts and advisors recommend investing no more than 5% of your portfolio in risky assets like crypto. Beginners should also refrain from riskier crypto trading practices, such as lending and staking currencies to generate revenue.

Crypto Wallet Glossary

  • Blockchain: A blockchain is a type of ledger that records digital transactions and is duplicated across its entire network of systems. The shared nature of blockchain creates an immutable registry that protects users against fraud. Cryptocurrencies are traded on the blockchain.
  • BTC: BTC is the currency code used to represent Bitcoin, which was created by Satoshi Nakamoto as the first decentralized cryptocurrency. Read our article on what is Bitcoin to find out more.
  • Foundation for Wallet Interoperability (FIO) Network: The FIO was established in the “pursuit of blockchain usability through the FIO Protocol.” The FIO protocol is meant to improve the scalability of the blockchain and develop a standard for interaction between various crypto-related entities.
  • Hierarchical Deterministic (HD) account: HD accounts may be restored on other devices by using a backup phrase of 12 random words that’s created when you generate the wallet.
  • Light client: Also called light nodes, light clients implement SPV, a technology that does not require downloading an entire blockchain to verify transactions. Depending on the currency, a full blockchain could be anywhere from 5Gb to over 200Gb. Thus, light clients tend to be faster than regular clients and require ​​less computing power, disk space and bandwidth. Mobile wallets almost always use light clients.
  • mBTC: A common exchange value, mBTC is short for millibitcoin, which is one-thousandth of a bitcoin (0.001 BTC or 1/1000 BTC)
  • Multi-signature: Multisig for short, wallets with this feature require more than one private key to sign and send a transaction.
  • Open-source: Software that is considered “open-source” has a source code that may be studied, modified or redistributed by anyone. The source code is what programmers use to adjust how a piece of software works.
  • Seed phrase: Newly opened crypto wallets randomly generate a string of 12 to 24 words known as a seed phrase. Users with non-custodial wallets must keep this phrase and are recommended to write it down in a safe location, since it stores all the information needed to recover access to their wallet and funds.

With all the information in this post, I believe you’re on your way to becoming an expert on crypto wallets and the measures you can take to avoid cyber theft. Until next time!