Cryptocurrency is a big deal today, and conversations about it inevitably turn to the blockchain. Cryptocurrency's popularity has alerted organizations and individuals to blockchain's advantages. Initially created to support Bitcoin, many businesses now leverage blockchain's versatility in many ways unrelated to cryptocurrency.
Well, that’s good for blockchain, but if more companies are jumping on the bandwagon, how can you sort out which blockchain development companies are the best for your career? That’s why today, we’re spotlighting the current top blockchain companies to work for. We will be focusing primarily on US-based blockchain companies and mentioning concepts like blockchain application development.
But first, a quick look at blockchain to bring the uninitiated up to speed.
What Is Blockchain? A Quick Refresher
Investopedia defines blockchain as “…a distributed database that is shared among the nodes of a computer network.” Blockchain assures data security and fidelity without the need for a third party.
Blockchain assembles the information into groups called blocks. When a block gets filled with data, it is closed and linked to a previously filled block. This process forms a chain of data called a blockchain. New information following the new block is gathered into another new block that will eventually be added to the chain when filled.
Blockchain data is immutable, meaning that you can’t change the information once it’s in the block. Transactions become permanently recorded and can be viewed (but not changed) by users.
What Kinds of Services Do Blockchain Development Companies Offer?
Blockchain development companies offer a variety of services, including:
- Cryptocurrency management (spend, invest, save, earn)
- Maintaining secure, decentralized record and data storage
- Big data asset management
- Financial infrastructure solutions
- Business registration and licensing
- Loan management solutions
- Fraud detection
- Real-time validation and sharing of certified qualifications
- Investment fund distribution
Blockchain Application Development
With blockchain use expected to be worth $20 billion by 2024, there is a greater demand for blockchain application development. Although there are over two dozen platforms typically used to build blockchain solutions, these are the most popular:
Blockchain application developers must consider the following factors when developing their app:
- What kind of platform are you designing? Some are geared towards cryptocurrency, others on smart contracts.
- Will the app require a smart contract?
- Does cryptocurrency play any part in the app?
- Will the app be scalable? Developers must consider the three points of Scalability Trilema: security, speed, and decentralization.
- What is the consensus protocol? Developers must identify the correct consensus protocol:
- Proof of Burn
- Proof of Work
- Proof of Stake
- Proof of Elapsed Time
Developers who plan on getting a job at one of the companies mentioned here will have to consider the above design factors.
Six Top US-Based Blockchain Development Companies
In no particular order, here's a list of some of the current best US-based blockchain development companies to work for.
Description: The company works to bolster blockchain trust by providing government agencies, financial institutions, and other businesses with data and software conducive to blockchain acceptance. Chainalysis’s compliance and investigation software help identify and reject stolen or hacked funds, improving blockchain’s reputation of reliability and security.
Location: New York, New York
Why Work There? Cybersecurity is an increasingly urgent subject today, so signing on with a company like Chainalysis is an outstanding long-term career choice.
Description: OpenXcell has earned a reputation as a premier resource hiring and software solutions development company, primarily known for offering the top 1% talent in the IT industry. In over a dozen years, it's grown into a one-stop, end-to-end solution provider in business and technology consultation and high-quality deliverables.
They offer an impressive range of services, including blockchain development, software development, big data analytics, AI and ML, DevOps, UI/UX design, and mobile app development.
Location: Sunnyvale, California
Why Work There? OpenXcell's reputation appears well-earned and an excellent destination for aspiring blockchain applications developers. They employ the latest tools and techniques, including Agile and Scrum. The sheer range of services they offer means that your skillset will be greatly enhanced during your tenure as an employee.
Description: Blockdaemon deploys nodes and creates scalable enterprise blockchain solutions geared towards crypto platforms, financial institutions, exchanges, and developers.
Location: Completely remote
Why Work There? Their website says they are the leading independent blockchain node infrastructure, supporting over 40 blockchain networks. Add the "completely remote" aspect, a desirable perk these days, and you have a good landing spot for your career! In addition to the "totally remote work office" environment, they offer flexible work schedules and a remote office stipend.
Description: IBM is the world-famous tech giant synonymous with computers and IT. They also happen to be the largest company globally that uses blockchain. They have already helped more than 200 businesses to develop data governance and applications tools that use blockchain.
Location: Armonk, New York
Industry: Computing, IT, Software
Why Work There? Who hasn’t heard of IBM? If your resume’s job history has “IBM” on it, that will cause future employers to take notice. They are a leading cloud platform and cognitive solutions company and have been around for over a century. IBM is the world’s largest technology and consulting employer.
Description: Mythical Games creates online experiences and games that emphasize the true ownership of digital assets thanks to a secondary digital economy fueled by blockchain. The company believes that this ownership and verifiable scarcity will help create a new generation of computer games.
Location: Seattle, Washington and Sherman Oaks, California
Why Work There? Blockchain is a big deal, and online games are insanely popular. Now imagine both together! Why wouldn’t you want to work there? The company also provides a flexible work schedule, diversity-based hiring, and opportunities for working remotely.
Description: Lemonade brings together the cutting-edge technologies of blockchain and Artificial Intelligence to help customers acquire home and renters’ insurance at reasonable rates. They employ Artificial Intelligence to devise the best flat-fee rate, then utilize blockchain for creating a smart contract to handle payment agreements.
Location: New York, New York, and San Francisco, California
Industry: Artificial Intelligence, Fintech, Insurance
Why Work There? Artificial Intelligence is a big deal today, so combining it with another hot concept (e.g., blockchain) equals one fantastic career opportunity that will also look great on the "work experience" part of your resume. In addition, the company offers a wide range of perks, including a generous leave policy, a pet-friendly environment, and apparently, beer on tap.
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Do You Want to Become a Blockchain Developer?
If you’re excited over these fantastic job opportunities and want to get on the blockchain bandwagon, Simplilearn can help you with its Caltech Blockchain Bootcamp. This bootcamp, held in partnership with Caltech CTME, covers concepts such as Bitcoin, Hyperledger, Ethereum, Ripple, and Multichain blockchain platforms. You will also learn to set up private blockchain networks using Hyperledger Composer and deploy smart contracts on Ethereum.
According to Ziprecruiter, blockchain developers can potentially earn a yearly average of $154,550. That level of compensation, coupled with blockchain’s growing popularity, shows why this is the type of career you can derive a lot of satisfaction and security from. So don’t delay; check out Simplilearn’s bootcamps today and take your career goals to the next level!