Blockchain Developer: Skills, Salary, And Future Scope
By Shivani Uppal on ALTCOIN MAGAZINE
Today, we are living in the ‘blockchain era,’ with every industry adopting blockchain technology, which is all set to pioneer the next wave of tech innovations. As we know, blockchain is an open, decentralized digital ledger which records and manages transactions securely and transparently. Blockchain is one technology which has already caught the attention of everyone across the globe.
So, will blockchain take over the world of technology in a massive way? The simplest answer to this question is to wait and watch. Only time can tell!
Who Is A Blockchain Developer?
Blockchain has given rise to a new field of development called blockchain development. Blockchain development involves developing and optimizing blockchain protocols and crafting the architecture of blockchain systems. A blockchain developer is responsible for creating integrated smart contracts and web applications using blockchain technology. The two types of blockchain developers are:
Core Blockchain Developers
They develop and design the architecture and protocols of a blockchain system and design consensus protocols and high-level development decisions related to blockchain.
Blockchain Software Developers
They use the protocols and architecture designed by core blockchain developers to build decentralized applications.
Prerequisites Needed To Become A Blockchain Developer
- Understanding how blockchain works in the real world.
- Learning the points of failure and getting skilled in safeguarding the overall system.
- Basic knowledge of the working of cryptography as it will be useful for developing codes for blockchain.
- Being well-versed in a mix of programming languages such as Python, Ruby, C++, Java, JavaScript, Go, Rust, etc.
- Having a background in web development, and networking and security will come in handy.
Demand For Blockchain Developer Jobs
If you are confident that you have what it takes to become a blockchain developer, this is a golden time for you as opportunities in the blockchain domain are thriving. Out of every five blockchain developers, there is one eligible blockchain developer out there who fits the bill of companies. Fortune 500 companies like IBM, Accenture, Capgemini, etc. are always on the lookout for skilled blockchain developers. The demand for blockchain developers is increasing without a pause. There is a rapid surge of interest in blockchain jobs as the most prominent industries are in need of high-quality talent. After the cryptocurrency bull market of 2017, there has been a meteoric rise in demand for blockchain developers and blockchain engineers. As of 2019, the global demand for blockchain engineers is above 517% over the last year.
Blockchain Developer Resumes
The three kinds of developer resumes and the skills needed for each are:
1. C++/ Go Developers
- Object-Oriented programming.
- Web application development.
- Understanding of blockchain and Bitcoin.
- Skilled in Go, Java, C++, C#.
- Android/ iOS development.
The freelance salary for a C++ or Go developer starts from $35 per hour. The pay for full-time jobs goes up to $100K a year.
2. Ethereum Developers
- Proficiency in Solidity programming language.
- Experience with wallets and ICOs (Initial Coin Offerings).
- Ability to create decentralized applications.
- Knowledge of web programming like Python or JavaScript.
- Proficiency in Bitcoin, blockchain, and Ethereum.
The freelance remuneration offered for an Ethereum developer per hour starts from $50, whereas the compensation for full-time positions goes up to $110k per year.
3. Ripple Developers
- Technical knowledge of ICOs.
- Experience working with smart contracts.
- Creating tests for Ethereum.
- Expertise in Go, Java, C/C++, Python, and JavaScript/node.js.
The freelance rates start from $50 per hour. Compensation for full-time positions is $150k per year.
Blockchain Developer Salaries
In 2018, the International Data Corporation (IDC) had estimated that the global expenditure on blockchain solutions would reach $11.7 billion by 2022. IDC also estimates that the five-year period from 2017–2022 will witness the fastest growth in blockchain adoption. Currently, blockchain developers are paid a handsome salary as many businesses are exploring novel ways to positive themselves advantageously concerning blockchain technology. The enthusiasm for blockchain transcends business cultures and regional borders.
The salary of a blockchain developer on a freelance basis ranges from $50 to $100 per hour. For salaried folks, firms in Silicon Valley in the U.S., offer up to $158,000 as average annual salary for blockchain developers. This is the same for an organization located in the hi-tech regions of U.S. such as Boston and New York. Switzerland’s Crypto Valley offers annual salaries ranging from $1220,000 to 180,000 annually. In the United Kingdom, firms are not willing to pay more than $140,000 per year. In the case of startups, the amount does not go beyond $60,000. In Canada, the blockchain developer’s salary annually is $131,000 on an average. The salary of a junior blockchain developer in Canada is $85,500 on an average. Experienced professionals in Canada earn up to $175,750 annually.
Blockchain developer salary is the highest in the San Francisco Bay Area of the U.S. According to Hired, the job search marketplace, blockchain developers here were paid $133k annually in 2015. In 2016, this figure increased to $135k and later rose to $142k in 2017. The other hotspots where salaries are competitive are Seattle, Washington DC and New York. In New York, the blockchain developer salary increased from $122k in 2016 to $125k in 2015, $129k in 2016, and $132k in 2017.
Future Scope Of Blockchain Developer Jobs
In the current day and age, there are endless opportunities for blockchain developers as umpteen number of jobs with handsome salaries are available. The demand for blockchain developers is now at an all-time high. Being considered as the second most demanded skill in the market after robotics specialists, blockchain development/engineering will only grow higher in popularity. This is not just speculation. With blockchain technology becoming more and more in demand in industries such as business and finance, the companies in these sectors want to hire blockchain developers and architects to provide them with an edge over their competitors.
Conclusion
Blockchain developer jobs are hot right now, and this demand is only expected to increase beyond leaps and bounds in the years to come. So, as the famous English saying goes, ‘Make hay while the sun shines.’ This space of blockchain technology has a lot of money, and if you possess the ability to provide the required value, get ready to pocket a considerable sum of money by becoming a sought-after blockchain developer.
