Wondering how much Blockchain developers/Blockchain architects make? Is it worth becoming one? How to become a successful Blockchain developer? This article will answer all your questions.
Table of Contents
- Blockchain: The Most In-Demand Technology
- A surge in Blockchain Developer Salaries
- Who is a Blockchain Developer?
- How Much Does a Blockchain Developer Make
- How to Become One?
Blockchain: The Most In-Demand Technology
The advent of Blockchain has taken the world by storm. The record-keeping technology emerged in 2009 to serve as the public transaction ledger of Bitcoin. Since then, it has emerged as a revolutionary technology that has the potential to reform almost all sectors. Due to its prominent applications, industries and enterprises are harnessing the power of global Blockchain. Blockchain is consistently one of the highest-paying fields, which indicates the demand for blockchain professionals is soaring exponentially.
According to LinkedIn, for the first time, Blockchain has topped the list of skills in 2020. It was found that technology was the top priority for organizations hiring in the U.S., U.K., France, Germany, and Australia.
The demand for Blockchain developers is soaring. If you want to become one, this is the best time to learn this futuristic technology.
A surge in Blockchain Developer Salaries
The demand for Blockchain developers is soaring, and there is no sign of stopping. Tech giants, private firms, enterprises, startups, and even the government sector, including federal agencies, are rushing to take advantage of the perceived benefits of the blockchain phenomenon.
Industries outside the financial services sector are also looking forward to adopting Blockchain for transparency, efficiency, security, and flexibility.
The report suggests that worldwide spending on blockchain solutions is expected to grow from 1.5 billion in 2018 to an estimated 15.9 billion by 2023.
Forecasts also predict that global blockchain revenues will experience extensive growth in the coming years, with the market expected to rise to over 39 billion U.S. dollars in size by 2025.
The CEO of Hired, Mehul Patel, notes that Blockchain developers’ salaries are substantially higher than other IT professionals, and there’s a ton of demand for blockchain professionals.
Namrata Murlidhar, marketing director at LinkedIn, believes that Blockchain technology had emerged from the “once shadowy world” of cryptocurrency to become a “transformative business solution.”
Who is a Blockchain Developer?
From the above discussion, it is clear that Blockchain developers are high in demand. But here comes the question, who is a blockchain developer and how much salary should a developer expect?
So let’s first understand who is a Blockchain Developer.
A Blockchain Developer is one who understands Blockchain technology profoundly and can build Blockchain-based applications for businesses. He/she specialize in creating and implementing technical solutions for organizations with Blockchain Technology.
An experienced developer is:
- Responsible for Blockchain evaluation, smart contract development along with a deep understanding of EVM.
- Understand Blockchain architecture design patterns and supporting infrastructure.
- Holds strong proficiency in cryptography and cryptographic protocols. Get involved in the global blockchain community and work on implementing and integrating the latest improvement proposals.
- Have a thorough knowledge of all the different types of blockchain technologies like Ethereum, Hyperledger, Corda, etc.
How Much Does a Blockchain Developer Make
Salaries of a blockchain developer are relatively higher on their own. But
a wide range of factors determines salary packages such as experience, a position he/she holds, job location, and, most importantly, skills.
According to job recruitment firm Hired.com, the average blockchain developer salary ranges from $150,000 to $175,000 per year.
In 2019, the IT Salary Survey found that the salary of Blockchain Developer is $127K, with experienced individuals commanding upwards of $172K when they move to new organizations.
At present, these salaries have now skyrocketed. Glassdoor reports that the average base salary of a blockchain developer is $ 91,715/yr.
According to Janco Associates, a management consulting firm, a blockchain developer’s median salary is $127,000 per year.
Blockchain Architect Salary
Another profession that is gaining a lot of attention these days is Blockchain Architect.
A Blockchain architect offers end-to-end solutions to its customers using Blockchain technology and helps develop an overall blockchain ecosystem engagement strategy.
According to Glassdoor, the average blockchain architect salary ranges from $146,258 to $157,987. The report indicates that those looking for a lucrative blockchain position should take a look at becoming a blockchain architect as well.
Although the hiring rate of blockchain developers are comparatively high, highly-skilled resources are still very limited.
How to Become One?
There are numerous benefits to becoming a blockchain developer, but the foremost is getting a high paying job. The best way to have an in-depth understanding of blockchain technologies and become a certified blockchain professional is to get enrolled in Blockchain Council.
Backed by the extensive practical-based sessions, Blockchain Council offers online training and certifications to aspiring trainees to render the desired competence to have a successful career in the Blockchain space. Blockchain Council offers the most in-demand certification, specifically in the crypto and blockchain field. It is one of the most renowned names for certifications & training in Blockchain and related fields worldwide.