In 2018 Blockchain was the fastest-growing skill. Growth exceeded 2,000% for three quarters and 6,000% for year-over-year growth. Blockchain has the ability to completely transform the way money is transferred and how people vote online. It can also change how they verify their identities, invest money, and so much more. In this article, we will closely look at a blockchain developer’s salary and discuss:
- What is blockchain?
- Blockchain developer salary
- Which skills affect salary
- Ethereum developer salary
What is blockchain?
Blockchain is a distributed network and that is one of its biggest advantages. Rather than relying on a single registry, it relies on a network of computers that form a secure chain or ledger. This is what makes it resistant to manipulations or hacking.
Another reason for its popularity in the tech world is that major companies such as IBM, SAP, and Samsung use and recommend it. They implement more blockchain-based features and choose to hire engineers and computer scientists specialized in it. Blockchain is increasingly being used in the fields of business and finance and even traditional companies like Visa are now on board. All of this affects the job market and blockchain developer salary expectations.
Blockchain technology is currently considered to be both cutting-edge and complex. This coupled with growing usage has created an increased demand for software developers with blockchain skills. As of yet blockchain developer or engineer is not a job title in itself, although this may well change. Therefore, companies requiring people with these skills should look out for back-end developers, machine learning engineers, and solutions architects with blockchain skills. It is still a relatively new and growing field which means that the job market will probably undergo some changes within the coming years. It is notable that blockchain skills are increasingly being sought after for remote work. Mehul Patel, CEO of Hired, suggested that over 50% of tech professionals are interested in working remotely.
Blockchain developer salary
Blockchain is a relatively rare skill that is growing in demand and therefore attracts higher than average salaries within the tech industry. According to Hired, blockchain developers can earn between $150,000 and $175,000 per year.
Hired suggested the highest advertised blockchain developer salary can be found in the San Francisco Bay Area (US) at– $162,288.
In London, the highest advertised salary is £74,366; in France, it is €57,383.
Skills that affect salary
Whilst Blockchain developers should know popular programming languages there are some specific skills they should possess which will significantly affect their salary.
Here is a list of the expected skill set of a blockchain developer:
- Some knowledge of mathematics and algorithms
Ethereum developer salary
Many blockchain developers have a working knowledge of Ethereum, which is an open-sourced blockchain-based distributed computing platform and operating system. Ethereum facilitates and automates effectively, meaning developers don’t need to have advanced skills in cryptography or algorithms in order to build blockchain-based applications.
Like Bitcoin, Ethereum is a distributed public blockchain network. The difference is that it runs the code behind decentralized applications rather than tracking ownership of the digital currency. Just like a blockchain developer, an Ethereum developer/engineer is not commonly thought of as a separate job, but rather as an additional skill. This is why popular salary comparison sites don’t provide information on average salaries.
The most reliable way to get an idea about how much Ethereum developers earn is to look at freelancing marketplaces.