Ever Since the emergence and the success of bitcoin the demand for blockchain engineers have been sky rocketing. Everybody wants to strike while the iron is still hot. But the problem is that there aren’t as many qualified individuals in the market, as much as they are required. This creates a massive demand-supply gap and for that reason blockchain engineers also make more money.
In the job market, blockchain developers have become extremely valuable, with salaries ranging from $150,000 to $250,000. Last year, the demand for software engineers with experience in blockchain development has increased by 517 percent, according to job search platform Hired. After Blockchain engineers, security engineers and embedded engineers grew by 132 percent and 76 percent, respectively, in the top three job openings in the world, according to Hired.
Let’s talk more about what blockchain is and what blockchain engineers do
What is Blockchain?
Blockchain was created in 2008 as a way to power Bitcoin, which was released a year later in 2009. A “block” is a way of permanently storing data, similar to a page in a ledger, that cannot be changed or removed once established. It is maintained by members of the online community known as “miners,” and it becomes a “Blockchain” when connected with other blocks.
Businesses and organisations are quickly accepting blockchain technology as a secure way to store confidential data. Miners on Blockchain are compensated in Bitcoin for their efforts. Anyone can become a miner if they have the right equipment and the time to devote to the task.
There are two kind of Blockchain Developers
- The architecture and security of a blockchain framework is designed by core blockchain developers.
- To build decentralised applications (dapps) and web applications, as well as smart contracts, blockchain software developers use the core web foundation and framework developed by the core developer.
What kind of Job Roles are there for Blockchain Engineers
Blockchain development, like any other development requires a team of different individuals with different skills. When all these people work together they create Blockchain based applications, functions, contracts and more.
- QA – Blockchain
- IOS Developer
- Senior Blockchain Developer
- C++ developer at Ethereum
- Java Developer
Reasons for such High Demand
High wages for blockchain jobs are a product of high demand and limited supply.
Although the advantages of blockchain are yet to be proven completely, the technology has received extensive media attention, ensuring that it is on everyone’s radar. Established companies have adopted blockchain and have introduced blockchain-related initiatives. Microsoft Corp. (MSFT), for example, has launched a blockchain-as-a-service (BAAS) platform under its Azure cloud division. IBM Corp. (IBM) has also released a blockchain division based on the open-source Hyperledger fabric. Even Facebook Inc. (FB) has founded a committee to investigate the usage of blockchain in its company. Salary increases for blockchain specialists have been aided by a skills shortage. Several new projects are being introduced to fill the supply gap, ranging from incentive schemes to boot camps that introduce developers to the technology. Universities have also gotten in on the act, launching online courses to train professionals.
Why Blockchain is so popular?
- Blockchain and Secure data go hand in hand with the storing of information through a network of computers. Any risks of transaction data hacking are eliminated by the decentralised storage of information and the absence of a single owner.
- The public ledgers allows you to keep complete transparency. Which helps create more trust factor between your customers and business associates.
- The pace of transactions in the blockchain is the next important factor that can help address the query, “Is blockchain a skill?” Since blockchain eliminates the need for intermediaries, quicker negotiations, agreements, and clearings are possible. All documents are held in a single digital register, eliminating the possibility of interruptions.
- All network users have permissioned access to the immutable data in the blockchain, thanks to blockchain. As a result, there are no middlemen to interfere, offering solid opportunities for cutting transaction costs in half.
- Most importantly, the advantages of blockchain’s traceability are driving up demand for blockchain skills. Blockchain technology includes an audit trail that reveals an asset’s origins as well as all of its milestones. The audit trail displays the identities of users who participated in the modification of a blockchain asset, as well as the timestamp. (Identity isn’t revealed only the wallet addresses)
- It helps people stay anonymous, people can use this to do good or bad it is up to them. But this is a major reason for its popularity.
If you are looking for a career in blockchain, then I will highly recommend you go for it. The demand looks to be every increasing and doesn’t look like it’s going to stop any time soon. Moreover, learning blockchain development doesn’t limit your learning and career opportunities. It only expands them further, since a lot of what you learn can be applied to other development careers as well.