One of the most in-demand career pathways in the Web3 jobs market in 2022 is blockchain development. Web3’s need for coders is expanding along with the popularity of the blockchain. What is the salary of a blockchain developer? may be on your mind if you’re thinking about going into the industry. And what kinds of coding positions are available in web3 companies?
We’ll outline the typical salary for a blockchain developer in this tutorial. We’ll also discuss what a blockchain developer actually performs, the many job categories in the industry, and whether blockchain development is a lucrative career. So let’s get started straight now without further ado!
What is the blockchain?
For those who are unaware, a blockchain is a distributed, decentralised database that is used to store and organise digital data. While blockchains have many uses, they are best known as the foundational technology for cryptocurrencies and NFTs.
What does a blockchain developer do?
What exactly does it mean to be a blockchain engineer, first and foremost? Creating, maintaining, and building blockchain applications and protocols is the essence of blockchain development. In other words, a blockchain developer builds software using blockchain technology, including smart contracts and decentralised apps (dApps).
The latter is particularly significant when discussing NFTs. In a nutshell, smart contracts are electronic contracts that are kept on the blockchain as code. They are intended to automatically carry out the conditions of the contract between the parties. This is only one of several cutting-edge uses for blockchain technology.
Is blockchain developer a good career in 2022?
Although it is still in its infancy, blockchain is spreading across many different industries. This comprises, among others, banking and financial services, healthcare, retail, and automobiles. In fact, according to studies, the market for blockchain technology will grow from a value of about 4.8 billion in 2021 to $69 billion by 2030. Naturally, as a result, there is a huge increase in demand for blockchain engineers.
So, blockchain is undoubtedly a wonderful IT career path to pursue if you’re searching for a wealthy career in a booming market. In blockchain, as in most other rising job markets, there is a dearth of qualified and trained people. You now have the ideal chance to take advantage of this shortage and successfully progress your career.
How much can a blockchain developer make?
Indeed, the juicy part—how much will I get paid—is a crucial consideration for any job route. Even if there are many things to think about, let’s break it down. So, what does a blockchain developer make exactly?
According to reports, newcomers with less than a year of experience can probably anticipate earning up to $120,000 annually as a blockchain developer. On the other hand, seasoned professionals with 2-4 years of software experience and less than a year of experience with blockchain technology may anticipate making about $124,000 per year.
However, more experienced developers with 2-4 years of software experience may make about $143,000 per year. Finally, those with between 2 and 4 years of expertise using blockchain technology and between 6 and 10 years of software experience make significantly more money. It often amounts to $153,000 each year.
In conclusion, a Blockchain Developer typically earns roughly $100,000 a year. The minimum base salary is about $50,000, while the maximum base salary is about $180,000.
Developer Salaries by Continent
While blockchain engineers typically earn well in every country, some are more welcoming to coding than others.
These statistics will offer you an idea of the varying pay for web3 developers, even though they are only a rough estimate.
- In North America, a blockchain developer makes between $120,000 and $200,000.
- Oceania’s annual blockchain developer salary ranges from $85k to $120k.
- Blockchain developer’s annual salary in Europe is between $73k and $130k.
- South American blockchain developers make between $42,000 to $482,000 per year.
- A blockchain developer’s annual salary in Asia ranges from $41k to $100k.
- A blockchain developer in Africa makes between $27,000 to $457,000 per year.
Of course, working remotely is an option for blockchain developers. If you’re considering living a nomadic lifestyle, you might still make between $100k and $180k as a blockchain developer per year.
Types of blockchain dev jobs
You need to be knowledgeable about both data structures and cryptography to be a good developer. There are essentially two types of blockchain development employment.
Core blockchain developer role and responsibilities: those responsible for building and maintaining the security and architecture of blockchain systems. To put it another way, they create protocols, put various blockchain features into action, and keep an eye on the network.
Blockchain software developer role and responsibilities:
On already established networks, blockchain software developers create and modify applications. They do this through creating the front or back ends of dApps, smart contracts, APIs, and other things.
But that’s oversimplifying things. In truth, web3 developers have a nearly limitless number of options.
5 Examples of Web3 coding jobs
Here is a short selection of potential careers in web3 coding that we could not possibly mention all.
1. NFT Smart Contract Developer
Smart contracts are created, written, tested, and deployed by smart contract developers. They are, in essence, the wizards who created your NFT project. Code is used to define the parameters for how that token will respond on the blockchain.
2. Fungible token smart contract developer
Do you still have a favourite sh*tcoin? That was also created by a developer. Blockchain token development can be a successful business. You might contribute to the next DogeCoin. Web3 businesses that are releasing tokens require programmers, and jobs are frequently posted on Linkedin.
3. NFT Games and Metaverses
As the popularity of blockchain games increases, so do the employment opportunities for blockchain game developers. Ever wanted to create video games? Perhaps this is your chance. Metaverse and Web3 are in critical need of capable developers. There are many web3 coding jobs available in the game development industry, regardless of your expertise in game mechanics or preference for working solely on bug patches.
4. Crypto Exchange Engineering
Bug fixing, crypto security, and other tasks are all part of coding for a cryptocurrency exchange. Exchanges, the hub of the cryptocurrency sector, provide web3 specialists a plethora of jobs. Of course, that also applies to developer positions, so you’ll never be without a job.
5. Bug Bounties
Although it’s not exactly a job, you can earn money through Bug bounties. In essence, you spend your time looking for security gaps in the Web3 project, and frequently they will give you a hefty bounty. However, this is not a given, and a few white hat hackers have been left empty-handed after making an extremely risky discovery.
How to become a blockchain developer
Learn the fundamentals of coding first if you’re interested in working for a web3 company. You can gradually proceed to coding, smart contracts, and other complex topics. Keep in mind that your skill set will have a significant impact on your blockchain developer income. Therefore, get going as soon as you can!
If the annual pay of a blockchain engineer caught your attention, it’s time to evaluate your current skill set and improve it. The bare minimum requirements are:
- adequate expertise in a number of computer science fields
- excellent mathematical skills
- understanding of the blockchain’s architecture, including its various consensus mechanisms.
Web3 Dev Courses for Beginners
Then, obviously, you’ll need to be familiar with programming. Here is our concise, step-by-step success manual:
- To learn the fundamentals, start blockchain development training.
- beginning to code Learn the fundamental coding languages used in web 3. Beware, as several blockchains speak various languages.
- Getting better through practise
- Obtain employment as a web3 developer.
It really is that simple. But you’ll need to put in the effort.
What Programming languages do blockchain developers use?
The first thing to note is that learning a few well-known programming languages, like Python and NodeJS, is always advantageous for any coding position. Web3 developers frequently utilise React and Next js as their primary development languages for the front end. However, a developer has access to a wide range of additional tools. You must conduct the necessary research on potential web3 coding employment.
Of course, you’ll want to target the chain’s language. That’s Solidity for Polygon and Ethereum. The creation of smart contracts frequently uses solidity. Solana then employs more conventional programming languages like C and Rust. Utilizing online resources makes it simple to learn these languages.
Utilizing online resources makes it simple to learn these languages. Your web3 coding career is just a little bit of study away; there is plenty of reading material available on each of these.
A blockchain engineer has a wonderful job and a decent compensation, but getting one might not be so simple. Those that are familiar with programming may already possess the necessary abilities. Beginners should start out cautiously because once something is on-chain, it is there forever. Good code is hence so highly compensated. Additionally, the perception of web3 among the programming community is always evolving. They might even come to think of us as their own someday.