Blockchain development is one of the most popular career paths within the Web3 jobs market in 2022. For the uninitiated, a blockchain is a decentralized, distributed database used to digitally store and organize information. While blockchain has a variety of applications, it is widely known as the core technology behind cryptocurrencies and NFTs. With its increased adoption, the demand for blockchain developers is also growing. If you are interested in becoming a developer, you might be wondering: what is the blockchain developer salary? And what are the types of blockchain developer jobs?
In this guide, we will tell you what a typical blockchain developer earns. We will also cover what exactly a blockchain developer does, the types of jobs in the sector, and whether blockchain development is a good career. So, without further ado, let’s dive in!
What does a blockchain developer do?
First things first: what exactly does it mean to be a blockchain developer? Essentially, blockchain development involves developing, maintaining, and designing blockchain applications and protocols. In other words, a blockchain developer uses blockchain technology to create applications, such as decentralized applications (dApps) and smart contracts.
The latter is especially important in the context of NFTs. In short, smart contracts are digital contracts written as code and stored on the blockchain. They are designed to automatically execute the terms of the agreement between the different parties involved. This is just one example of the innovative applications of blockchain development.
Is blockchain developer a good career in 2022?
While still in its infancy, blockchain is making its way into a host of industries. This includes banking and financial services, healthcare, retail, IT, and automotive, to name a few. In fact, reports they predict that the global blockchain technology market will be worth $69 billion by 2030, up from around $4.8 billion in 2021. As a result, naturally, the demand for blockchain developers is skyrocketing as well. .
So, if you are looking for a lucrative career in a growing industry, blockchain is definitely a great tech career to pursue. As with most emerging job sectors, there is also a lack of qualified and trained professionals in blockchain. Therefore, you have the perfect opportunity to use this shortage and effectively advance your career.
How much can a blockchain developer earn?
In fact, an important factor in any career path is good compensation. So what exactly is the blockchain developer salary?
Reportedly, beginners with less than a year of experience can probably expect a blockchain developer salary of around $120,000 per year. In contrast, experienced developers with 2-4 years of software experience and less than a year of blockchain technology experience could expect a slightly higher salary. Therefore, approximately $124,000 per year is a reasonable estimate.
On the other hand, the most advanced developers with 2-4 years of software experience could earn an annual salary of around $143,000. Finally, those with around 6-10 years of software experience and 2-4 years of experience in blockchain technology they earn much more. Often, it’s around $153,000 per year.
Types of Blockchain Developer Jobs You Could Get
Generally speaking, there are two types of blockchain developer jobs:
- Blockchain Core Developer – These developers are responsible for developing and maintaining the architecture and security of blockchain systems. To explain it, they design protocols, implement different blockchain features, monitor the network, etc.
- Blockchain software developer: Blockchain software developers are involved in building applications on existing blockchain networks. This means that they develop the frontend and backend of dApps, smart contracts, APIs, and more.
Final Thoughts: What skills do you need?
If the lucrative blockchain developer salary has made you interested in this job, it is time to assess your skills and upgrade your skills, if necessary. At the most basic level, you will need adequate knowledge in a variety of fields of computer science and mathematics. First of all, you need to be well versed in the architecture of the blockchain and its fundamentals, such as the different consensus protocols.
So, obviously, you will have to know how to program. It’s always an advantage to learn a couple of programming languages like Python and Solidity. The latter is especially common for the development of smart contracts. Data structures and cryptography are two other areas that you will need to be well versed in. Then, of course, smart contract developers are in high demand thanks to new NFT projects coming up daily. So this is an area you can certainly focus on. Finally, learning web development will help you develop dApps.
If you are a beginner interested in becoming a blockchain developer, start by learning the basics. Gradually, you can move on to coding, smart contracts, and other advanced areas. You can also choose to focus on any of the blockchain developer jobs. Remember, your blockchain developer salary will largely depend on your skill set and experience. So, get started!