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Everything You Need to Know About Blockchain Developers | Outdefine
Everything You Need to Know About Blockchain Developers
Worldwide investment in blockchain is projected to grow to an estimated $19 billion by 2024. The majority of surveyed entrepreneurs and analysts assert faith in blockchain technology as the vehicle of next-generation industrial growth. If statistics are any indication, blockchain is set to become a booming market for innovation-focused jobs.
Whether you are someone who’s about to start a technological career or an IT veteran wanting to upskill, blockchain development can become a stepping stone for your progress. Read on to learn about blockchain developers and how you can make a career as one.
What is a Blockchain?
A blockchain is a network that stores digital data as distributed ledgers shared across multiple nodes. To maintain an irreversible timeline of decentralized data, blockchain structures its data into groups or blocks. These blocks are linked into immutable chains that are impossible to hack or tamper.
Blockchains lay a secure and transparent foundation for the cryptocurrency ecosystem. Popular blockchains such as Bitcoin and Ethereum are involved in generating better ways of investment, exchange, and communication on Web3.
What is Blockchain Development?
The principles of blockchain technology can be used to solve complex problems in diverse areas of management, funding, and information sharing. Blockchain development refers to designing and maintaining applications to solve large-scale operational problems using DLT or Distributed Ledger Technology.
Businesses can apply blockchain technology to obtain operational efficiency in transaction tracking, trading, and keeping records of digital assets. Developers using blockchain believe in leveraging peer-to-peer computer networks to enhance international communication and value exchange.
The most common use of blockchain development is seen in forming web-based smart contracts. Unlike ordinary agreements, a smart contract exists solely as an automated computer program. Once coded, the execution and record of this contract are left to the blockchain application. No third-party verification is needed to ensure the accountability and fairness of such contracts.
What does a Blockchain Developer do?
Blockchain Developers program and test applications using decentralized ledger technologies. The main responsibilities of a typical developer consist of –
- Developing blockchain protocols to support specific tasks
- Operating and updating data networks to track transacting records
- Backend and frontend designing to meet the requirements of a project
- Coding and monitoring smart contracts to execute agreed-upon deals
Blockchain developers are divided into two sub-types, depending on their specialized role in the industry. These are:
Core Blockchain Developers:
These developers design the foundational architecture of a blockchain system. They provide an outline of protocols and cybersecurity frameworks that overlook the operation of a blockchain network as a whole.
Blockchain Software Developers:
They focus on programming applications for existing blockchain platforms. Details such as creating specific features for apps and coding smart contracts are handled by these developers.
Although blockchain development is considered a highly specialized career, developers working in start-ups and new enterprises wear many hats. They are expected to have a wide knowledge of different programming languages along with a good understanding of web design. Blockchain development is a dynamic field that is still in its nascent stage. This means that inventive problem-solving and constant learning must be a part of a developer’s life.
Blockchain developer salary
According to PwC’s “Time for Trust” report, blockchain technology is expected to produce more than 40 million jobs globally by 2030.
Those interested in blockchain development as a career are surely curious about the monetary prospects of taking this path. For quick insights, the average salary of blockchain developers as reported on Glassdoor presently stands at around $108,539 per annum. These figures vary given the experience and level of understanding. In fact, senior blockchain developers with 7+ years of experience can draw up to $350,000 per annum.
Developers looking for jobs in this industry can compare salary data from various online platforms and company forums to find the best offers for their experience and future goals.
How to become a Blockchain Developer
A blockchain developer focuses on the practical application of blockchain technology across industries. To solve real-world technological problems in a limited time, developers must have a basic understanding of different programming languages, front-end and back-end development, get comfortable with blockchain architecture and be able to use it to achieve specific results.
Here are 5 simple steps to get started on your journey to becoming a blockchain developer-
- Understand fundamental concepts of blockchain development
A beginner might get overwhelmed with the terms and jargon used in the world of blockchain development. To solve this issue, there are plenty of free online resources that can help you understand the basic theory of blockchain architecture. Start with understanding the basics of consensus mechanisms, cryptography, hash functions, and smart contract development.
- Create and test your first blockchain code
Applying your new knowledge to writing operative code will let you learn by doing. Follow free online tutorials to build your own blockchain and develop a basic smart contract. Websites such as the freeCodeCamp provide to-the-point steps that can teach you how to develop your own Smart contract using the Solidity language within a few hours!
- Project-based learning
Learning with a goal in mind is the quickest way to build functional expertise. Trying to solve a real problem can help you learn blockchain concepts as and when you need them. Joining a guided Bootcamp on blockchain development will give context to your actions. For example, using the command line to create a crypto token can let you understand applicable programming skills which you can build upon as you progress.
- Focus on day-to-day use cases of blockchain programming
Object-oriented programming is the most popular mode of developing blockchain applications. Languages such as Solidity, Simplicity and Go allow quick compilation, flexibility, and testing environments suited for blockchain codes. Another important skill is being able to use cryptography and hash functions to encrypt and secure transactions.
- Solve real-world problems to build your own portfolio
Using blockchain programming to innovate new features and solutions should be your next step. Interacting with developer communities on GitHub or StackExchange can help you review the projects of fellow blockchain experts. Sharing your own skills and getting hands-on experience through collaboration will set you on a path to continuous growth.
As Web3 enhances access to the worldwide job economy, you can sell your digital skills at higher rates. If you’re someone who’s curious about experiencing the dynamic world of blockchain development, joining the Outdefine talent network could be a smart way to get started. With a team that believes in democratizing work and pay for everyone across the globe, Outdefine will connect you to the best recruiters in your domain while ensuring that you get to keep 100% of your pay!