A blockchain consists of a decentralized digital ledger that saves transactions on thousands of computers across the globe. The transactions are registered in such a manner that it prevents its subsequent modification. This technology enhances security, cuts down costs, and is transparent, which makes it the most sought after futuristic technology
Blockchain has created thousands of new jobs and startups, ranging from mobile payment to healthcare applications.
Learning blockchain development should be a top priority for all developers as it is the next big thing. However, blockchain development requires a particular way of thinking. This mentality is very similar to the way hackers think: thinking out of the box when faced with obstacles rather than thinking conventionally. They have to collaborate as a team and know when to ask for help and when to keep prodding themselves. The characteristics that define a blockchain developer is their unconventionalness,yet these guys are aware of their limitations, and are known to work well as a team.
Blockchain came into existence due to Bitcoin, as the former was designed as a platform for later. An aspiring blockchain developer should buy some cryptocurrency to understand the concept. A blockchain consists of a chain of records called blocks that cannot be altered without altering the previous blocks. All the blocks are connected with hashes. Developing a blockchain from scratch requires considerable time & research. The process begins with selecting a suitable blockchain protocol.
Transactions become more transparent with the deployment of Blockchain. Blockchain is a distributed ledger, and all members share the same updated ledger. A consensus is required to validate the ledger. Change in one record will result in modification of all subsequent records. This makes data saved on the Blockchain:
- Less accessible
It can be clearly seen that Blockchain is the future of many industries. Although the technology is in a nascent stage, it has the potential to transform many industries. As a result, all developers should prioritise learning blockchain development in 2022. Blockchain developers’ salary is amongst the highest in the IT industry.
Let’s have a look at Blockchain developer’s average annual salary country wise:
- India- Rs 460K
- USA- USD 96K
- UK- 68000 Pounds
- Singapore- 95,865 Singaporean Dollars
- Canada-95,000 Canadian Dollars
- Germany-USD 60K to USD 150K
- Switzerland-USD 180,000
Blockchain provides highly secure data storage, and worldwide spending on blockchain solutions is expected to rise from USD 1.5 billion in the year 2018 to USD 15.9 billion by 2023. Moreover, the Internet of Things(IoT) is adopting blockchain technology, and forecasts suggest that by 2030 around 50 billion IoT devices will be in use.
The biggest concern online is cybercrime, and Blockchain provides unmatched security at present. However, that means more Blockchain developers are needed.
Who are Hiring Blockchain Developers:
Considering the incredible benefits, both big and small companies are readily experimenting with Blockchain.
Large companies, especially Banks, accountancy firms, insurance, Oil & Gas, retailers, and law offices
New enterprises which have been created since the invention of the Blockchain
These companies want to keep abreast with the technology, and in case Blockchain takes over the world, they want to gather all the expertise.
The governments of many countries are hiring crypto and Blockchain experts to advise them. Since storing data with Blockchain technology is much safer than other existing technology, many Governments are migrating to Blockchain.
Career opportunities in Blockchain
There are several openings in Blockchain development, which the developers could explore and make the most of.
Blockchain Solution Architect
Blockchain solution architect works on designing, assigning, and connecting Blockchain components with team members such as developers, UX Designers, Network Administrators, and IT operations Executives.
Blockchain Project Manager
This professional is responsible for managing all the tasks that will complete the Blockchain Development project. Blockchain project Managers need to have the expertise of a cloud project manager. They need to have technical knowledge along with communication skills.
Blockchain UX Designer
With Blockchain being made use of in so many industries, there is a requirement for User Experience & User Interface Designers. For Blockchain software, the User Interface should be attractive and look trustworthy at the same time.
Blockchain Quality Engineer
A Blockchain Quality Control Engineer is responsible for setting up automated testing units and manual testing to ensure that the final product works according to the requirement stated at the project’s launch.
Blockchain Legal Consultant
As corporates start using Blockchain technology and include it in their system, legal issues may arise. Corporates need the help of legal consultants in dealing with the implications of using Blockchain technology. Such an expert needs to have good communication skills and knowledge of international law as Blockchain Software Development is a technology without borders.
Blockchain has just made its presence felt, and it is here to stay for quite some time. Learning Blockchain development will pay dividends and is a good career option for developers. It should be a top priority for developers interested in learning new technology. Blockchain development services are both professionally & financially rewarding. No doubt, learning Blockchain Development should be a top priority in 2022.