Salaries for blockchain developers typically depend on qualifications, experience, and skills. According to data from blockchain developer platforms, some key figures have been identified. On ZipRecruiter, blockchain developers can earn up to $150,550 annually, with the higher end of the salary range around $158k and the lower end approximately $145k, depending on the current market.
To gain perspective on the different salaries earned by blockchain developers, a geographical approach is essential. According to Hired.com, companies based in the US, particularly in San Francisco, offer the highest salaries, with annual pay averaging around $169k. This is likely due to the well-known tech community and a significantly higher cost of living in the area.
However, it's important to note that you don't necessarily have to live in these locations to earn a high salary. Blockchain work is predominantly remote-friendly, making the competition fierce and creating global opportunities for developers. The remote nature of blockchain work allows companies to hire talent from outside their immediate environment, potentially leading to new strategies and innovative ideas. By collaborating remotely, companies can introduce global resources, fresh perspectives, and diverse skill sets.
Large corporations such as Walmart, Facebook, Google, and Amazon have all incorporated or plan to incorporate blockchain technology. For example, Google's Query service supports Ethereum smart contract analytics, allowing the authorisation of Ethereum transactions. Amazon manages its blockchain service on AWS, and in June 2020, announced it was seeking blockchain patents for supply chain management. Facebook has its own Libra blockchain and is working towards developing its own cryptocurrency despite facing challenges. Walmart is also exploring distributed ledger technology, conducting research into its application in supply chain management.
There are several uses for blockchain technology; however, its financial applications remain the most prominent:
- Cryptocurrency: Blockchain powers most, if not all, cryptocurrencies. Some cryptocurrencies have their own blockchain, while others are built using blockchains that support custom tokens, such as Ethereum.
- Payments: Websites and applications enable users to make purchases using cryptocurrency. Blockchain developers can implement solutions to support the use of cryptocurrencies such as Bitcoin, Ethereum, and Litecoin.
- DeFi (Decentralised Finance): DeFi involves transferring existing financial products, such as savings, loans, and trading, onto the blockchain.
Other sectors exploring blockchain technology, though still in the testing phase, include gaming, supply chain, real estate, and healthcare.
For new developers in the blockchain industry, Ethereum is the most recommended platform to start with. As a general-purpose blockchain, it supports most applications involving smart contracts and has the most active developer community, as well as high levels of active users. Bitcoin and Hyperledger are better suited for developers with specific needs, such as accepting Bitcoin payments or using particular protocols.
Starting with Ethereum is advantageous due to its extensive developer tools and support. It's advisable to avoid blockchain platforms with limited support, as Ethereum offers ample resources for growth.
Some of the most popular programming languages in blockchain development are Solidity, JavaScript, Python, Go, Rust, and C++. For beginners, Solidity and JavaScript are recommended, as it's common for developers to learn both front-end and back-end languages. Solidity typically serves as the back end, while JavaScript handles the front end. However, if you are focused on a specific role, it's best to concentrate on the relevant language.
Python is also a powerful language, though it may not be as suitable for building mobile apps or client applications. Go, Rust, and C++ are more suited to low-level infrastructure and different smart contract platforms.
The time it takes to learn these programming languages can vary, typically ranging from one month to a year, depending on your skills and adaptability. When learning, you might choose to start with blockchain-specific languages, as this is the most efficient way to gain expertise that will serve you well in the long term. Alternatively, you may opt to specialise in particular tools or sectors, focusing only on the essential skills needed for your desired role.
Check out our current vacancies here: https://portal.prioritycrypto.jobs/jobs?fe_id=3110&page=1
