What is a blockchain? | What is a Blockchain Developer? | How to become a blockchain developer? | Salary of a Blockchain Developer
A blockchain is a decentralized digital ledger that stores transactions on thousands of computers around the world. Blockchain technology enhances security and speeds up the exchange of information in a way that is cost-effective and even more transparent. The importance of blockchain has attracted the attention of many organizations in various sectors with the banking sector being the most active among them. As a result, Blockchain has created thousands of new job positions and new startups ranging from mobile payment solutions to even healthcare applications.
In fact, Blockchain is basically one of the top emerging technology domains in the current scenario of the IT world. The global market for blockchain technology is expected to reach approximately $25 billion by the end of the year 2025. There are various IT giants like Samsung, IBM, and Capgemini which are offering a great career opportunity to Blockchain professionals and you can consider becoming a Blockchain developer to make a successful career in this field.
Future/Career Scope in Blockchain
Blockchain technology is a very fast-growing field around the world, with a growing demand for experienced blockchain professionals. The world’s most famous cryptocurrency, bitcoin, is powered by none other than blockchain technology. Basically, blockchain helps speed up transactions and bring down costs, so it makes businesses more resilient to hacks and fraud. Blockchain technology will be going to get used in fields including finance, banking services, insurance, real estate, supply chain, cloud storage, travel, transportation, e-commerce, energy, public sector, and healthcare.
Blockchain technology is one of the most emerging career fields in the coming years. The demand for blockchain technology professionals is definitely going to increase from native to even abroad. If you also want to make a career in this field, then you can start your career in blockchain by doing a course. The central government of India is also promoting blockchain technology in India. In such a situation where blockchain tech is continuously gaining attention, easy avenues are opening up for professionals/freshers to make its career in their native country and in abroad as well.
Blockchain Developer Jobs
There is a huge demand for Blockchain technology professionals in India as well as in foreign countries. According to data available from the leading global job site, the city of Bengaluru is in high demand in the blockchain sector, accounting for 36 percent of all job postings in the city, followed by cities like Pune, Mumbai, Hyderabad, and Chennai. So, in short, there are a lot of job opportunities in blockchain technology.
What is a Blockchain Developer?
Blockchain developers are technical professionals who work on blockchain technology and are responsible for related tasks, such as designing the blockchain protocol, creating smart contracts, etc. A blockchain developer has a broad set of knowledge and skills to develop and optimize smart contracts based on blockchain as well as blockchain architecture and protocols. They also deal in 3D modeling, 3D design, and 3D content development in game development.
Types of Blockchain Developers
Blockchain developers can mainly be divided into two types – blockchain software developers and core blockchain developers.
1) Blockchain Software Developers
Blockchain software developers develop and implement the design as planned by the core developer, such as
- They develop dApps.
- They implement smart contracts which are designed by the core developers.
- They also ensure that DApps run as planned.
- Research and care on the integration of blockchain networks with other services and apps.
Also read How to Become a Data Scientist
2) Core Blockchain Developers
Core blockchain developers are basically responsible for developing and optimizing the architecture. The developer develops, designs, and optimizes the protocols that support blockchain solutions. A good example is the Consensus Protocol which defines how all the members using the blockchain technology and the resources agree to share and use these resources.
- Core blockchain basically developers implement the functionality and features of the blockchain and ensure that they perform the intended functions.
- They also design and implement the security of the network.
- They basically make sure the network is on.
- They also plan, design, and implement the integration of blockchain networks with other services.
- They plan to expand the features and functionality of a blockchain network.
Blockchain Developer Skills Required
First and foremost, what you must need to have is an academic background in the Computer Science/ Information Technology field. You can either choose to pursue a bachelor’s or master’s degree in a particular stream. While as you may also know that it is not mandatory to have a specific educational background to become a blockchain developer, having a computer science background will help you understand the fundamentals and lay your foundation for learning blockchain technology effectively. Apart from degree programs, you can opt for several training programs to even gain more experience in blockchain technology.
Some of the key skills are as follows –
1) Understanding Blockchain Architecture
You should be able to understand blockchain technology, such as advanced blockchain security, blockchain applications, blockchain integration, and also the advantages and limitations of blockchain as well as its challenges. Blockchain developers should understand blockchain consensus, hash functions, and distributed ledger technology. They also need to understand different blockchains and also their functioning, and the most important of them are Ethereum, Bitcoin, Neo, and Hyperledger.
2) Data Structures and Databases
A developer must properly configure the blockchain network as per the requirement and therefore understand the best database and data structures for the target network.
3) Smart Contract Development
A developer must understand the different types of smart contracts and also about how to develop them.
4) Understanding Decentralization
In blockchain technology basically, we have decentralized applications. These dApps can be easily built on different blockchain platforms using different protocols and processes.
5) Understanding Cryptography
Cryptography and digital ledgers basically form the basis of the functioning of the blockchain. The developer must understand what cryptography is. They should also understand the algorithms that are applied in cryptography and must have an understanding that which algorithms work best for what type of blockchain network. They should also know how to develop these algorithms.
6) Understanding Cryptonomics
It is one of the important aspects to understand how cryptocurrencies are coded on the blockchain. The training and courses of the Blockchain developer can teach game theory, mathematical frameworks for modeling cryptonomics, and the difficulties involved in modeling. They should also understand what are the factors that influence cryptonomics and related monetary policies.
7) Computer Coding
Computer programming is also essential in the development of any advanced and effective decentralized app or simply dApp. Although in some cases, you may be able to develop a beginner dApp without this skill.
Blockchain Developer Roadmap
Most blockchain developers start out by learning programming languages or coding skills and then use them to specialize in the development of blockchain. This is because of the fact that most blockchain development requires programming or coding languages of the mainstream, but some blockchains require knowledge in a specific coding language on which they are based in order to develop anything. Hence first you need to learn to code and after that, you can complete your training in the blockchain course. With the training going on, you can apply for an internship to get the best exposure to that field.
Eligibility Criteria for becoming Blockchain Developer
Professionals who have a bachelor’s degree in Engineering, Science, or Mathematics (B.E., B.Tech., B.Sc., BCA / MCA) can pursue the course. To take admission in Blockchain Technology and Management from amity university, one can do post-graduate and working professional courses.
Salary of a Blockchain Developer
In terms of salary, professionals in India get 5 lakhs to 30 lakhs annually. It depends on the experience in this field. As the skills and experience of the professional increase, so does the salary.
The career of becoming a blockchain professional is not that easy, it requires a lot of dedication, hard work, and consistency. But today with the rapid development of blockchain technology, the career scope of blockchain developers is becoming very bright.