This article about blockchain developer salary might be interesting to both programmers and employers. It is an overview of the tech essentials, required skills, and wages.
Unicorn: What is a blockchain developer?
From the earliest times, people recorded the exchange of different services and goods. With the digital world evolution, transaction recording has become rather complicated. The world trade and commerce are growing rapidly creating a network that is too vulnerable to breaches, errors, and fraud. Modern supply chains use intermediaries such as the government, banks, and dealers to ensure security and reliability. That adds additional expenses and consequently increases the cost of final products. Such processes as smuggling hamper officials to collect export taxes. This is where blockchain technology can help people resolve the issues mentioned above. Due to its unique features, a public digital ledger offers transparent transactions that are stable to various vulnerabilities.
People who create magic networks are called blockchain developers. They are capable to create a system providing secure and synchronized recordings of blocks. Some people call these specialists unicorns but they are not doing extraordinary things. It’s because a lot of people still are not completely aware of how chains of blocks work, they consider bitcoin developers to be unicorns. Let’s figure out what actually these people do.
Check out a related article – “The list of public records is growing: Do you want to create yours?”
Bitcoin was invented 10 years ago, but the rate of innovation has only reached a fever pitch in the last couple of years, especially with the launch of Ethereum in 2015. Most of the new companies and ideas in this space have been built on top of Ethereum, which is still very immature. Even if you start now, you can realistically become a world-class expert within a few years. Most people just haven’t been doing this that long, and it won’t be that hard to catch up. Starting now would be analogous to deep learning experts who began studying the topic in the late 2000s.
6 major blockchain developer skills
Most of the best and brightest students at universities are focusing on machine learning, web programming, or game development. Sure, blockchains are getting more popular in the public discourse, but they’re still a weird and subversive topic on which to stake your career. Early on, blockchain was exclusively the realm of cypherpunks, paranoids, and weirdos. That’s only recently begun to change. Just by being a curious and open-minded developer, you’ll bring a lot of value to space. If you are searching for developers to build a crypto-based project you must understand precisely which skills a typical crypto developer should possess. We conducted in-depth research on the job requirements in the cryptocurrency industry.
Pay attention to the skills and experience your candidates should have. Here are the major requirements to a blockchain programmer from potential employers:
A solid grounding in developing blockchain projects.
Candidates having relevant work experience will slice and dice your project more quickly than the beginners to the industry.
3+ years experience in programming (Go, Rust, Python, C#, Java, C++, Ruby).
Experts in software development with over 2 years of experience will also save your time and money. The competence on the market is so high that you shouldn’t spend the time for teaching developers to work with a particular technology. Otherwise, by the time your project is finished, it will become an old hat idea.
Knowledge of SQL, cryptography, solidity, bitcoin, etherium, P2P, ICO, Smart contracts, etc.
Strong background in algorithms and data structures.
Cryptography has become as much popular as ever before. Blockchain companies hire specialists in this field. So, your developers need to be at least familiar with cryptography, algorithms and maths problems solving, and data structures
Cryptocurrency exchange essentials.
Blockchain programmers have to know how a cryptocurrency marketplace works, be familiar with the essential terminology and know the main principles of trading.
The ability to work in accordance with agile methodology.
This skill is essential for all developers so that the workflow and progress are clear to all stakeholders.
You might be interested in how to create a peer-to-peer marketplace
What other skills should a blockchain developer possess?
Very often people don’t understand what the term blockchain developer actually means. At the bottom, a blockchain developer is the same as a full-stack developer who encompasses the skills of architect, system administrator, mathematician, analyst, and financier.
Beyond that, this position enjoins developers on active communication within the community. Without having all these skills, developers won’t be able to solve blockchain problems.
The difference among blockchain experts
Like any other new technology, blockchain has introduced new professions to the IT world. We should mention and distinguish at least three new specialties:
- Blockchain engineer – a core developer with solid experience in systems programming on C++, Go, or Java. The analogs specialist is a core developer for Linux.
- Blockchain developers should have a strong background in creating desktop applications.
The majority of developers say that it’s possible in theory to build a blockchain project using any programming language. However, C++ is considered to be the most popular for this purpose. Developers who write code in native languages using different frameworks and possessing knowledge in maths and algorithms are more likely to find a job with good prospects than those who have poor knowledge in this area.
Looking for blockchain developers? Usually, recruiters search for potential candidates using traditional methods: contacting specialists via professional networks, meeting them on hackathons or various meetups. If you plan to recruit real experts you must also find out more about blockchain salaries.
What is the difference between a good developer and one with poor blockchain skills?
It’s not all about technical skills that define how professional a developer is. Personal qualities are also of great importance. Like any other developer, a blockchain specialist must be goal-oriented, diligent, and persistent. It’s quite difficult to find a developer with a strong background in blockchain that’s why recruiter are often recommended to pay heed to those people who show a great interest in the technology. What is worth paying attention to:
- companies and projects a candidate worked in
- role and achievements
- proactivity and open-mindedness
- participation in conferences, open-source projects
- additional education
- push and pull factors
Do you actually need blockchain for your business?
It seems as if every business needs blockchain. How did it come? Experts explain that there are at least two reasons for this. The first one that the technology is really attractive to businesses. The second one is the desire to control this spontaneous interest. Blockchain is able to solve business problems and can be applied in ICO-projects to raise capital.
To answer this question we recommend auditing your project and identify if it is adaptable to the blockchain. Today, a lot of software development companies offer audit and consulting services to businesses to conduct an in-depth research.
Learn about new ways of running a business: “What is a smart contract?”
Average blockchain engineer salary
For nigh on several years the number of blockchain jobs advertisements on Linkedin has increased thrice. This proves that commercial organizations of different levels are going to implement blockchain technologies. The demand for such specialists exceeds supply as most of them are involved in numerous cryptocurrency and blockchain startups. According to Financial Times, the total number of open blockchain vacancies on Linkedin is over 1,000.
At the same time, around 10,000 profiles contain blockchain skills. However, we should mention that these profiles belong not only to developers but also to executives, journalists, and other people whose work is related to this technology. It is not surprising that blockchain developers are offered higher salaries than developers working with other technologies. Today, according to Financial News, cryptocurrency and blockchain specialists are paid around $130,000 per year whereas the most experienced can be offered around $650,000 per year.
In contrast, senior traders and other top specialists working in the financial sector of Great Britain earn from $360,000 to $4000,000. Thus currently, the most lucrative profession in financial sector is the position of developers working with new technologies.
The CEO of Linkedin in Great Britain, Josh Graf offers developers from the related spheres like cryptography and machine learning to add blockchain to their stacks. It will allow increasing their rates. According to Linkedin, blockchain vacancies are opened not only by financial companies but by giants like Fujitsu, Toyota, Intel as well.
However, specialists with great experience in the financial sector and payment systems have more chances to get a good job offer. For example, the Bank of America often looks for developers with experience in blockchain, cloud technologies, and experience in financial sector.
The success of Bitcoin and other cryptocurrencies as well as the great demand for blockchain affect the human resources market greatly.
According to Glassdoor, a blockchain developer makes approx. $80,000 per year. This figure is based on over 13,000 individual reportings from the US employees working in the industry. The distribution of wages is from $55K to $112K. The salaries for this profession grow rapidly together with a demand for top experts in the domain.
Let’s compare bitcoin or ethereum developer salary per month in different parts of the world.
|Blockchain developer salary||$2,500-3,000||$9,000-11,000||$4,000-6,000||$10,000-12,000|
Here is a percentile chart demonstrating the distribution slightly similar to the Glassdoor data.
In Switzerland, for example, the salaries of blockchain developer have increased rapidly up yo $180K per year. Such a fast rise is connected to the fact that the country has become a central spot for companies launching ICO projects. The high salary starting from $120K is explained also by the high cost of living.
Blockchain developer salary in the United States of America
According to Indeed, as of July 10, 2018, average blockchain developer wages per year in the United States are as follows:
- Senior developer – $99,000
- Developer – $89,000
- Software engineer – $101,000
- Engineer – $86,000
With an increased demand for blockchain experts, a lot of computer science students strive for getting employed n this industry.
Blockchain Wages in Canada
In Canada, developers handling smart contracts, Bitcoin, P2P, and other blockchain-related projects earn around $93,500 per year or almost $50 per hour. Entry-level engineers can start with $66,000 per year whereas the most qualified earn up to $130,000.
Plan to outsource your project? Check out what countries are the best to outsource software development
How to become a blockchain engineer
If you wish to create digital currency, write smart contracts and blockchain applications first off, you should have enough knowledge about this innovative stack. You may definitely learn the essentials yourself as a lot of projects are available on GitHub. It is recommended also to take some courses if you are a beginner in cryptocurrency development to get a blockchain certification.
If we speak about smart contracts on some of the platforms, for example, Etherium, then you will need no basic knowledge. The only thing needed is the skill to google and a little bit of patience. Smart contracts are developed for people who have no knowledge of coding. However, if you would like to build blockchain products, you should get a strong knowledge of this technology.
The most important thing is to understand how the technology works. Most limits in blockchain development are related to the peculiarities of this technology which don’t allow using some project patterns. However, once you understand the technology, you won’t face any difficulties in mastering one of the programming languages required for writing smart contracts.
Can I learn blockchain informally?
It is obvious that you can master blockchain technology yourself as a lot of projects are available on GitHub. The main problem is the time required to obtain enough skills. On the one hand, there is a lot of information about blockchain but it is quite fluffy that’s why you will spend much time filtering this data. On the other hand, there are risks that you will just copy the code and never learn coding. It is highly recommended to take special courses where you will be able to get the basic skills very quickly.
It is also highly recommended to read the White Paper of that cryptocurrency your future project will be based on. As you see, there are no special skills a developer must obtain to handle ICO, crypto-based projects, exchanges, etc. What is actually required is the strong desire to learn and practice P2P essentials.
Our developers are qualified in building sophisticated peer-to-peer networks and blockchain-based projects. The solutions we offer are secure and scalable so that you can rest assured that your project will be flexible to any changes and requirements. Should you have any questions about our stack feel free to check it out on our website or ask our blockchain team.
What do we offer?
Our team of blockchain experts provides the following services for the fintech market:
- Blockchain consulting
- Mobile app development
- Blockchain software development
- Optimization of the existing software
We use the most innovative technologies in our stack to deliver state-of-the-art solutions to our customers. The major benefit of cooperation with our experts is that all of them have a strong background in the fintech sphere. We are focused on applying the latest approaches in project management to deliver high-quality products on time.