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Blockchain Developer Salary in 2022
Blockchain development is one of the hottest career paths in the field Web3 works market in 2022. For the uninitiated, a blockchain is a decentralized, distributed database used to digitally store and organize information. While blockchains have a variety of applications, they are widely known as the core technology behind crypto and NFT. With their increased adoption, the demand for blockchain developers is also growing. If you are interested in becoming a developer, you might be wondering – what is the blockchain developer salary? And what are the types of blockchain developer jobs?
In this guide, we will tell you what a typical blockchain developer makes. We will also cover what a blockchain developer does, the types of jobs in the sector, and whether blockchain development is a good career. So without further ado, let’s dive right in!
What does a blockchain developer do?
First things first – what does it mean to be a blockchain developer? Essentially, blockchain development involves the development, maintenance and design of blockchain applications and protocols. In other words, a blockchain developer uses blockchain technology to create applications, such as decentralized applications (dApps) and smart contracts.
The latter is particularly important in connection with NFTs. In short, smart contracts are digital contracts written as code and stored on the blockchain. They are designed to automatically execute the terms of the agreement between the various parties involved. This is just one example of innovative applications of blockchain development.
Is blockchain developer a good career in 2022?
While still in its infancy, blockchain is making its way across a number of industries. This includes banking and financial services, healthcare, retail, IT and automotive, to name a few. Actual, reports predict that the global blockchain technology market will be worth $69 billion by 2030, up from around $4.8 billion in 2021. Naturally, as a result, demand for blockchain developers is also sky-high.
So, if you are looking for a lucrative career in a growing industry, blockchain is definitely a great technical career path to pursue. As with most new job sectors, there is also a shortage of qualified and skilled professionals in blockchain. Therefore, you have the perfect opportunity to exploit this deficiency and effectively advance your career.
How much can a blockchain developer earn?
Indeed, an important factor in any career path is good pay. So, what exactly is the blockchain developer salary?
Reportedly, beginners with less than a year of experience can likely expect a blockchain developer salary of around $120,000 per year. In contrast, experienced developers with 2-4 years of software experience and less than one year of experience with blockchain technology could expect a slightly higher salary. Accordingly, approximately $124,000 per year is a reasonable estimate.
On the other hand, more advanced developers with 2-4 years of software experience can earn an annual salary of around $143,000. Finally, those with around 6-10 years of software experience and between 2 and 4 years of blockchain technology experience earn much more. Often it is around $153,000 per year.
Types of blockchain developer jobs you can get
Broadly speaking, there are two types of blockchain developer jobs:
- Core Blockchain Developer: These developers are responsible for developing and maintaining the architecture and security of blockchain systems. To explain, they design protocols, implement various blockchain functions, monitor the network, and so on.
- Blockchain Software Developer: Blockchain software developers are involved in building applications on pre-existing blockchain networks. This means they develop the frontend and backend of dApps, smart contracts, APIs and more.
Final thoughts: What skills do you need?
If the lucrative blockchain developer salary has gotten you interested in this job, it’s time to assess your skills and upgrade yourself—if necessary. At the most basic level, you need sufficient knowledge in a variety of computer science as well as mathematical fields. First, you need to be familiar with blockchain architecture and its basics, such as different consensus protocols.
Then of course – of course – you must know programming. It’s always a plus to learn a couple of programming languages like Python and Solidity. The latter is particularly common for smart contract development. Data structures and cryptography are two other areas you must know well. Then, of course, smart contract developers are in demand thanks to new NFT projects dropping daily. So this is an area you can definitely focus on. Finally, learning web development will help you develop dApps.
If you are a beginner interested in becoming a blockchain developer, start by learning the basics. Gradually you can move on to coding, smart contracts and other advanced areas. You can also choose to focus on one of the blockchain developer jobs. Keep in mind that your blockchain developer salary will largely depend on your skill set and expertise. So, get started!
