How much do you know about blockchain? At the very least, you may be aware of its existence if you’ve ever heard or read anything about Bitcoin. If your knowledge of blockchain is a little light, then you’re about to learn a lot more about it. If you have heard of blockchain, then you need to check out why blockchain developer salary are going off the charts.
Understanding What Is Blockchain
Blockchain’s origins go back to 2008, as a means to power Bitcoin, which in turn came out a year later in 2009. A “block” is a means of permanently storing data, analogous to a page in a ledger, which, when created, cannot be altered or deleted. Members of the online community called “miners” maintain it, and when it’s linked with other blocks, you have a “Blockchain.”
Businesses and organizations today are rapidly adopting blockchain technology as a reliable means of keeping sensitive data safe. Blockchain’s miners earn Bitcoin for their efforts. Anyone can be a miner, provided they have the right tools to do it and the time to invest in the process.
Kinds of Blockchain Developer and Their Job Role
There are two different kinds of blockchain developers:
- Core blockchain developers design the architecture and security of a blockchain system
- Blockchain software developers use the core web foundation and architecture built by the core developer to create decentralized applications (dapps) and web applications, as well as smart contracts
Popularity of Blockchain
Blockchain provides an extremely secure method of storing data and conducting transactions. Worldwide spending on blockchain solutions is expected to grow from 1.5 billion in 2018 to an estimated 15.9 billion by 2023.
Furthermore, as the Internet of Things (IoT) continues to gain acceptance and usage, it is increasingly adopting blockchain technology. Forecasts suggest that by 2030 around 50 billion IoT devices will be in use around the world meaning good news for blockchain and greater demand for blockchain developers.
The above developments are hardly surprising. Blockchain offers unparalleled data security, as one of the biggest concerns today is cybercrime. As more of our daily activity migrates online, security becomes a more pressing issue. Blockchain stands ready to meet those security needs, but that means more developers are needed and, consequently, salary incentives will be more appealing.
In light of blockchain’s surge in popularity and increasing acceptance, here’s all you need to know about blockchain developer salary across the globe, as well as a list of blockchain developer jobs in those same regions.
Blockchain Developer Salary Based on Country
In one word: excellent! blockchain developer salary are taking off world-wide as demand for blockchain engineers and developers continues to soar. Blockchain developers can pull in a salary that is comparable with Artificial Intelligence (AI) developers, according to CNBC, and that’s some serious money!
Here are a few blockchain developer salary in different areas of the world. Bear in mind that these figures can fluctuate based on precise geographical location, company size, spikes in demand, and other factors.
- Average annual salary of a blockchain developer in India is over ₹460K
- Average annual salary of a blockchain developer in the US is over $96K
- Average annual salary of a blockchain developer in the UK is over £68,000
- Average annual salary of a blockchain developer in Singapore is around S$95,865
- Average annual salary of a blockchain developer in Canada is $95,000 CAD
- Average annual salary of a blockchain developer in Germany ranges from $60K to $150K
- Average annual salary of a blockchain developer in Switzerland is USD 180,000
- Average annual salary of a blockchain developer in Canada is C$136,500. Additionally, an entry-level position averages C$78,500
- Average annual salary of a blockchain developer in China ranges from Standard ¥45k to ¥60k, according to the Blockchain Council. Directors and managers earn approximately ¥60k to ¥120k.
Blockchain Developer Salary Based on Experience and Skills
Junior blockchain developers are typically assigned more supportive duties or groundwork. These tasks include debugging and repairing mobile apps, creating blockchain database application programming interfaces (API), or even handling the user interface (UI) design and front-end development of web and mobile applications. Think of them as entry-level developers, interns, or assistants.
To that end, their salaries run on the lower end, although even that starting pay is quite a bundle! For instance, ZipRecruiter shows an annual average salary of $120,748 for a junior blockchain developer in the United States. However with the right expertise and the skills a Blockahin developer can earn over $150K yearly.
Finding a Blockchain Developer Job
Blockchain developers are in high demand and earn a good salary. That’s great, the next question is how do you get one of these fantastic jobs and earn the best blockchain developer salary out there?
The internet is your greatest ally in the quest for finding the best blockchain developer salary and career opportunities. Although there are countless job-finding websites out there, the best sites for blockchain jobs are AngelList, Blockchainjobz, Blocktribe, Crypto Jobs List, Indeed.com, Joblift, Linkedin, and Upwork.
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The Ultimate Way to Become a Blockchain Developer
After reading about all of the opportunities and benefits of being a blockchain developer, (and also the lucrative blockchain developer salary) it wouldn’t be surprising to hear that you’re pondering a career change. If that’s where you find yourself, you’ll be glad to know that Simplilearn can help you get your start.
The Blockchain Certification Training Course provides an overview of Bitcoin, Hyperledger, Ethereum, and Multichain blockchain platforms. In this course, you’ll get to know and use tools like Ganache, Truffle, Meta Mask, and Geth to build Blockchain applications, learn how to set up a private Blockchain network using Hyperledger Composer, and deploy smart contracts on Ethereum. The certificate that you earn tells an employer that you are well-versed in this new technology and can be confidently expected to meet all of the demands that the position makes. Whether it’s blockchain or any other IT tool or concept, certification gives you an edge over the competition.
Even if you’re already working as a blockchain developer, there is always the option of upskilling, and increasing your salary potential. Blockchain technology is making inroads into a wide range of industries. Smart professionals plan and stay informed of the current technology; those are the people who succeed and climb the corporate ladder. So check out the course today and be a cutting-edge developer!