Blockchain development is one of the hottest career paths within the Web3 jobs market in 2022. For the uninitiated, a blockchain is a decentralised, distributed database used to store and organise information digitally. While blockchains have a range of applications, they are widely known as the core technology behind crypto and NFTs. With their increased adoption, the demand for blockchain developers is also growing. If you are interested in becoming a developer, you may be wondering—what is the blockchain developer’s salary? And what are the types of blockchain developer jobs?
In this guide, we’ll tell you what a typical blockchain developer makes. We’ll 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 right 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 decentralised 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 across a host of industries. This includes banking and financial services, healthcare, retail, IT, and automotive, to name a few. In fact, reports predict the global blockchain technology market to be worth $69 billion by 2030, from around 4.8 billion in 2021. As a result, naturally, the demand for blockchain developers is also soaring.
So, if you are looking for a lucrative career in a growing industry, blockchain is definitely a great tech career path to go for. As with most emerging job sectors, in blockchain too, there is a lack of qualified and skilled professionals. Therefore, you have the perfect opportunity to utilise this dearth and effectively advance your career.
How much can a blockchain developer make?
Indeed, an important factor of any career path is good remuneration. So, what exactly is the blockchain developer’s salary?
Reportedly, beginners with less than one year of experience can likely expect a blockchain developer salary of about $120,000 per year. In contrast, experienced developers with 2-4 years of software experience and under a year of blockchain technology experience could expect a slightly higher salary. Accordingly, approximately $124,000 per year is a reasonable estimate.
On the other hand, more 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 between 2 and 4 years of blockchain technology experience earn much more. Often, it’s around $153,000 per year.
Types of blockchain developer jobs you could get
Broadly speaking, there are two types of blockchain developer jobs:
- Core blockchain developer: These developers are responsible for developing and maintaining the architecture and security of blockchain systems. To explain, they design protocols, implement different blockchain features, monitor the network, and so on.
- Blockchain software developer: Blockchain software developers are involved in building applications on already existing blockchain networks. This means 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 got you interested in this job, it’s time to assess your skills and upskill yourself—if needed. At the most basic level, you will need adequate knowledge in a range of computer science as well as mathematical fields. Firstly, you have to be well-versed in blockchain architecture and its fundamentals, such as different consensus protocols.
Then—obviously—you will have to know programming. It’s always a plus to learn a couple of programming languages such as Python and Solidity. The latter is especially common for smart contract development. Data structures and cryptography are two others areas you will have to know well. Then, of course, smart contract developers are in high demand thanks to new NFT projects dropping daily. So this is an area that you can certainly focus on. Finally, learning web development will help you in developing 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 either one of the blockchain developer jobs. Remember, your blockchain developer salary will heavily depend on your skill set and expertise. So, get started!