The digital revolution has transformed modern 21st-century living, touching every aspect of our lives, including how we do business. Businesses across the world have embraced digital technologies for operations, sales, finances, business development, and every other comprehensible sphere central to the existence of a company. In turn, the technological job market has witnessed rapid growth, with demands for software programmers and developers booming across the world.
The term “blockchain” is now more prolific in our daily vocabulary than ever, with blockchain development fast growing into one of the essential specializations in the software world. Blockchain, initially built to support Bitcoin, is best defined as a digital ledger that records the history of a digital asset in the form of a chain of encrypted blocks of data. By its very design, blockchain makes subsequent alterations impossible, thereby ensuring high transparency and security – the primary reason for its importance in the digital industry. Businesses require maximum security for their data in this age of theft and cybercrime. Hence, big and small digital-first companies worldwide seek blockchain talent to build, maintain, and grow their digital networks. Developers and programmers with a strong aptitude in blockchain technology are quickly absorbed into lucrative jobs with endless growth avenues.
Read on to find out all about a blockchain career and the average blockchain salary in the US.
A Career in Blockchain Development
Blockchain specialization is a definitive skillset for software developers aiming to further their career prospects within the larger gambit of technology. Blockchain talents find a place in several industries such as banking and financial services, healthcare, insurance, telecommunications, travel and transportation, and even government bodies.
Core Blockchain Developers and Blockchain Software Developers
To gauge the possibilities of a career in blockchain development, it is important to take note of the two different types of blockchain developers – core blockchain developers, the architects of a blockchain system, and blockchain software developers, who use the system to build decentralized apps and web varieties.
Blockchain developers are responsible for the entire lifecycle of a blockchain application. Their primary responsibilities include:
- Designing protocols.
- Creating the network foundation.
- Backend and front-end development.
- Developing and monitoring smart contacts.
A blockchain developer is regularly engaged in research, analysis, design, execution, and debugging. In a nutshell, the role of a blockchain developer comes with immense responsibility and ownership, which professionals are handsomely rewarded for.
Blockchain Salary in the US
Cryptocurrency jobs, the leading blockchain job board, reports the average blockchain developer base salary in the US to be $136,000 per year, with the highest base salaries going up to $200,000. Remote blockchain programmer salary, depending upon the location of the recruiting company, could be anywhere between $70,000 and $200,000 per annum.
According to the world’s leading employment website, Indeed, the average blockchain engineer salary (or the average base salary of a senior software engineer with blockchain experience) is $119,831 per year. The highest paying cities for this role include San Francisco, San Jose, Seattle, and Boston. Similarly, Indeed also reports that a backend developer in cities such as Mountain View, New York, and Chicago receives an average base salary of $115,656 per year with an additional cash bonus of $4000.
The median base salary of a senior java developer in New York was reported to be $134,744 annually, according to Salary.com.
Top Blockchain Developer Skills
A blockchain developer’s salary is highly dependent upon skillset. Here are the primary skills recruiters look for in blockchain developers:
1. Data Structures
Data structures are the basic foundation of blockchain technology. Blockchain networks are comprised of blocks which in essence are a type of data structure. Blockchain developers work with these complex data structures on a daily basis and hence are expected to have a sound functioning knowledge of and experience working with data structures.
Cryptography is essentially the technique of encrypting data such that unwanted third parties cannot access it. As a result, cryptography plays a primary role in securing the integrity of cryptocurrencies – the foremost digital sector employing blockchain professionals.
3. Smart Contracts
Proficiency in developing and monitoring smart contracts is increasingly becoming an essential skill set for the blockchain industry. Smart contracts allow two parties to transact without the presence of an intermediary. Smart contracts are effective because of decentralized blockchains, and expertise in this regard is highly valued in the industry.
4. Web Development
Blockchain developers are often required to develop web apps in tandem with the blockchain network they design. A strong foundation in web design, development, and programming of apps and proficiency in blockchain development will go a long way in ensuring a fruitful opportunity with a high salary for blockchain developers.
5. Blockchain Architecture
Finally, blockchain architecture is the principal skill required to become a blockchain professional. Blockchain developers are primarily responsible for building secure blockchain networks. One must be adept with the different kinds of blockchain architecture to become an accomplished blockchain developer.
A firm grasp of these blockchain skills is essential for an aspirant to land the best blockchain developer salary in the US. However, some other factors that influence a blockchain programmer salary include the area of specialization within the gambit of blockchain technology, years of experience in the niche, region and the size of the recruiting company, expertise in programming languages such as Java, C++, and Python and, most importantly, formal education.
How to Become a Blockchain Developer?
To become a blockchain expert, the first step for any professional is to strengthen their foundation in blockchain technology principles and skills. Additionally, a profound understanding of the latest tools and industry innovations is also essential. Completing an advanced certification course in blockchain development goes a long way in developing a strong sense of fundamental concepts. It is an asset to any technology professional’s career as it amps up the employability potential of candidates.
For software and IT professionals looking to upskill themselves in blockchain technology, upGrad offers an all-inclusive certification course that is a great starting point in a long journey as a blockchain talent. upGrad’s Advanced Certificate Programme in Blockchain, offered in association with IIIT-B, a leading global institute in information technology, teaches a student to build a blockchain from scratch and provides comprehensive training in overall blockchain development.
With a learner base spanning 85+ countries, 40,000+ paid learners globally, and 500,000+ impacted working professionals, upGrad is a top leader in disseminating industry-focussed education and training. The blockchain development course is specifically designed for working professionals and provides flexible class hours and 360-degree career assistance. In addition, there are opportunities for peer learning and global networking through upGrad’s programs designed to increase proficiency to meet industry standards.
Blockchain development is poised to become the most sought-after role in the digital industry as more and more businesses embrace the benefits of blockchain. Within a decade, many products and services are expected to be built on blockchain technology.
A career in blockchain development is not only a lucrative opportunity, but it has immense growth potential and comes with a guarantee of ownership, job satisfaction, and long-term stability. The digital world is fast-evolving, and instead of jumping onto the bandwagon, one must strive to lead the way. Blockchain is the future, and becoming an expert today is a definitive step towards future leadership.
Is Programming Knowledge Required For Blockchain?
Blockchain works with complex data structures which are stored in the form of blocks. Blockchain developers are essentially software developers and engineers with blockchain specialization. Hence, programming knowledge and proficiency in various programming languages, such as C, C++, Java, Python, and knowledge of blockchain-specific programming languages such as Solidity are crucial.
How long does it take to learn Blockchain?
Training in Blockchain can take anywhere between a few weeks to a few months depending upon the level, frequency, and intensity of learning. Having said that, like any other technological skill, blockchain can be fine-tuned to precise perfection with consistent practice.
What are the eligibility criteria for joining the certification program?
The minimum eligibility to join upGrad’s advanced certification program is a bachelor’s degree with 50% or equivalent passing marks. No prior coding experience is required.