Blockchain is a buzzword that makes everyone excited. It’s no surprise because Blockchain developers are behind some of the most secure and advanced technology in today’s market.
As Blockchain continues to grow in popularity, many developers have started using this up-and-coming technology to create decentralized applications. Let’s find out what it’s like to work in their space!
Is Blockchain Developer A Good Career?
Blockchain Development is a great career because blockchain developers and similar professionals have witnessed significant yearly growth in their salaries. Moreover, the blockchain sector is growing exponentially. Lastly, companies offer fantastic perks and bonuses to attract top talent, and employees have an outstanding work-life balance.
As a blockchain developer, you can expect it to be highly competitive and have high growth potential!
If you’re wondering if being a blockchain expert is a wise career move, keep reading because we have 11 things for you to consider!
1. Blockchain Development Overview
Blockchain developers are programming experts specializing in blockchain technology and carry out specific duties like creating smart contracts and designing Blockchain protocols.
On the other hand, Blockchain is a technology transforming how the digital world operates more safely and effectively.
Additionally, there are two main categories into which blockchain developers can be divided: core blockchain developers and blockchain software developers.
According to a study, the blockchain technology market is expected to increase by over $20 billion in 2025!
2. Blockchain Developer Requirements
If you’re looking for a career path that can be both lucrative and secure. In that case, Blockchain is probably one of the most crucial tech specialties to select.
However, coding and understanding programming languages can be complex for some. Nonetheless, it needs logical understanding and design thinking.
One must invest and pass specific credentials and certifications, such as the Certified Blockchain Professional on Blockchain-council.org and Blockchain Specialization on Coursera.org, to demonstrate their understanding of this industry.
Blockchain certificate holders can benefit in many ways, including more excellent salaries and a faster climb on the corporate career ladder!
3. Highly Competitive Salaries for Blockchain Developers
For a beginner, the salary may be around $110,000 per year, while for mid-levels, they can expect about $120,000 annually.
On the other hand, advanced developers may expect $143,000 annually. At the same time, as a Blockchain Master, the salary could range from $153,000 per year.
Study shows that the crypto workforce is estimated to reach over $68 billion by 2030 and a rise in employment of 13%, including 667,600 new jobs.
As you can see, blockchain programmers are in demand in various industries despite the cryptocurrency market volatility!
4. Blockchain Developers Require Understanding of Cryptography
To be a good blockchain developer, you must have a solid grasp and a set of dedicated ideas in cryptography and security.
Cryptography is the science of writing and solving codes to secure information. Simply put, it’s the science of transforming data into a format that’s not readable by anyone who does not possess the correct key that enables the decryption of that information.
Cryptography is one of the technical abilities required to operate as a blockchain developer.
You must have strong enthusiasm for learning cryptographic concepts, such as Digital Signatures, Hash Functions, and RSA algorithms, to establish the foundation for blockchain development.
As blockchain technology advances, more and more businesses will require developers with a strong understanding of encryption and security concepts!
5. Academic Background in Blockchain Development
Generally, a background in computer science or information technology is the first thing you should acquire.
You also need technical web design and development skills to help you manage APIs and build Dapps.
However, a college degree is not necessary to work as a blockchain engineer. The sole prerequisites are completing a certification program and possessing a solid skill set.
Furthermore, you need to be familiar with the short courses between Private, Public, And Federated Blockchains and a variety of development tools, including Hyperledger, Corda, and Ethereum!
6. Extensive Knowledge of Technical Programming Concepts
Start with building a solid foundation! As a Blockchain developer, if you lack the foundational expertise, the path will be difficult and require additional effort.
To become a blockchain developer, one needs knowledge of several computer sciences and mathematics branches.
In this sector, in-depth familiarity is necessary with Programming Languages, Data Structures, Databases, Networking, Cryptography, and Cryptonomics.
You may come across Ethereum and DApps, and you should have a solid understanding of Solidity, C++, Python, C#, and other Smart Contract programming languages!
7. Improving Career Prospects Via Bootcamps & Continuous Learning
Attendees of boot camps receive professional-level training in Blockchain and other in-demand technologies. Additionally, you can build social and professional connections at these coding bootcamps.
Bootcamps give attendees the skills they need to excel in this developing field and appeal to potential employers.
Ethereum is an excellent place to start if you’re interested in finance, cryptocurrencies, innovative contract development, or if you want to get a quick taste of Blockchain.
Lastly, continued learning through Blockchain training courses is an excellent way to build solid experience, particularly if you’re interested in classes offered on the weekends.
You will qualify for scholarships and job guarantees based on hands-on training, such as blockchain bootcamps!
8. Career Options and Future Career Outlook
In 2022 alone, investments in the industrial Blockchain will total $11.7 billion.
International cryptocurrency investors benefit from the advancement of blockchain technology. The current global adoption of blockchain tech is mostly in cryptocurrencies. Over 10,000 cryptocurrencies and 50 million blockchain wallets are already in use worldwide.
Career choices include Blockchain Software Engineers, Solution Architects, Senior Blockchain Project Managers, and Blockchain Consultants.
Currently, the top employers for blockchain developers include JP Morgan Chase, Block, Accenture, IBM, Amazon, and Cisco!
Additionally, a 2021 Delloite survey of 1284 senior executives worldwide found that 81% agreed with the statement, “Our executive team believes there is a compelling business case for the use of blockchain, digital assets, and/or cryptocurrencies within my organization or project.”
Moreover, the same survey by Delloite found that 73% of them agreed with the statement, “My organization will lose an opportunity for competitive advantage if we don’t adopt blockchain and digital assets.”
As you can see, the future outlook for blockchain technology appears to be extremely bright.
9. Work-Life Balance as Blockchain Developer
Freelance blockchain developers have the opportunity to be self-employed, which allows them to work from home and set their schedules and earn an extremely competitive income.
Current blockchain engineers working from home frequently spend extra time with their pets, go on walks, surf, drink coffee, and end the day by debugging their codes till the wee hours of the morning.
At the same time, developers who work for corporations frequently take annual leave and receive other benefits.
Blockchain developers also enjoy the benefits of flexible workplace culture. On top of that, many businesses are now paying full-time salaries for 4-day work weeks!
10. Coding is More Than a Job
Studies show that for successful professional blockchain engineers, coding is more than just a job—it’s their passion and hobby.
Some developers spend their free time on getaways, recreational activities, friends, and family. While others put in extra time to fulfill deadlines, resolve issues, and oversee multiple projects at once.
Jobs in technology are well known for their advantages and flexibility. Many IT professionals are independent contractors who exclusively work remotely and on their schedules!
11. Coding Loopholes
Blockchain systems are vulnerable to coding flaws in addition to hack attacks.
Due to this, the technology has not been able to establish itself significantly on designated platforms, resulting in several contract issues.
Therefore, with time and evolution, a blockchain developer must design a solid coding system to guard against potential hackers in the future!
To learn more, you can also see our post on Web Development, Programming, Network Engineering, Cybersecurity, and Digital Marketing.
Conclusion
Blockchain development is a career that, for now, is limited to those who have a solid technical background. As the technology becomes more ubiquitous, more developers will likely enter this space and increase opportunities.
Considering the money, the opportunity for growth, and the high demand for blockchain developers, it’s easy to see why many people jump headfirst into blockchain development.
Ultimately, employers may begin supporting more formal training opportunities, allowing many individuals to transition into blockchain development roles!
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