Want to give your career a head start by entering into the Blockchain space? This article will help you in figuring out top Blockchain job roles and how much they get paid.
Table of Contents
- Blockchain: A Distributed Ledger Technology
- Why There is a Global Wave for Blockchain Adoption
- Best Blockchain Job Roles and Salaries
- Concluding Lines
Blockchain: A Distributed Ledger Technology
With a limited talent pool, Blockchain professionals are high in demand. From non-financial banking companies to private firms, Blockchain is creating amazing job opportunities every now and then. Technology has the potential to revolutionize how we handle data and perform business operations.
It is a peer-to-peer, decentralized, distributed ledger technology used to store encrypted transactions, such as exchanging assets or data, without involving any third-party/central authority. This causes increased trust, security, and integrity in the flow of transaction information among the participating parties.
Few consider this distributed ledger technology as a network technology as it allows organizations and businesses to collaborate efficiently to build industry infrastructure.
Gartner’s new business value forecast methodology predicts that Blockchain’s business value will grow more than $176 billion by 2025, and then by 2030, it will exceed $3.1 trillion.
Why There is a Global Wave for Blockchain Adoption
There is no denying the fact that the Blockchain era has arrived. Enterprises and even public sectors across the world are warming up to the concept of decentralized distributed ledger technology, blockchain. If we talk about 2018, PwC’s survey, it was reported that out of 600 executives from 15 territories, 84% say their organizations are leveraging technology for their business operations.
Talking about India, the Indian government at the state level is also collaborating with Blockchain companies to ramp-up Blockchain growth in the country.
With continuous progress in this space, it was reported that India is one of the fastest-growing crypto markets, gradually catching up on cryptocurrency development.”
Soon after Reserve Bank of India (RBI), confirmed no longer a banking ban on crypto industries, including crypto exchanges, companies, or traders, since then, various startups have shown up their presence.
Best Blockchain Job Roles and Salaries
The salary of Blockchain professionals varies depending on multiple factors such as skills, job location, company, years of experience, etc. If we talk about the most in-demand Blockchain skills at present, these are Ethreum, Hyperledger, Quorum, among others. These development platforms help businesses and developers build new blockchain-based applications and invent new use cases with technology.
Let’s understand the most in-demand techie roles in detail.
Blockchain Developers specialize in creating and implementing technical solutions for organizations by utilizing Blockchain technology. Tech giants are desperately looking for Blockchain developers who hold a great understanding of Blockchain platforms and are able to design, build, and implement strategies that can help enhance business performance.
At present, Ethereum developers who hold experience with DeFi Protocols and use solidity for the development of smart contracts have higher chances of getting hired. Also, candidates having hands-on technical exposure to Blockchain technologies such as Hyperledger are favored.
According to Glassdoor, the national average salary for a Blockchain Developer is ₹4,36,423 and talking specifically about the average salary for an Ethereum Developer; it is ₹5,20,391 in India. According to Payscale, the average salary of Blockchain developers is around ₹801,938.
On the whole, a Blockchain Developer must have a comprehensive technical background and should be ever-curious in learning about the latest trending technologies.
Blockchain Architect is another profession that recruiters are hunting for.
A Blockchain architect offers end-to-end solutions to its customers using Blockchain technology and helps develop an overall blockchain ecosystem engagement strategy.
Organizations are searching for specialized individuals who can identify, assess, and solve complex business problems and understand how Blockchain architecture, private keys, and standards/protocols work. Experts who understand business components and technical elements of Blockchain architecture deeply are in great demand.
Glassdoor reports that Average Base Pay for a Blockchain Architect in India is ₹11,40,927.
Blockchain Developers and Blockchain Architects are not only crafted by the BFSI sector that represents a major portion of the multi-billion dollar Indian economy but also by government agencies along with other sectors such retail, eCommerce, supply chain management, healthcare, education, etc.
According to Linkedin and Stack Overflow surveys Blockchain has been consistently ranked among the top skills that employers have been looking for in the past 3 years.
As there is a significant gap in the demand and supply of Blockchain professionals, enterprises are ready to pay higher remunerations compared to IT professionals. But remember, your salary package depends on the right skills you have in the Blockchain space along with how much experience you hold. If you are at an entry-level, your salaries will run on the lower end.
Blockchain Council, which is a globally-recognized online platform known for imparting world-class training in Blockchain space with its own market research, found that people with right skills and certification, on average, make 30% more salary compared to equivalent job profiles.