Blockchain is the next greatest technological revolution. It is poised to revolutionize how we handle data and perform our business activities. Blockchain was initially developed to support Bitcoin but has shown a level of versatility and security that businesses in numerous sectors are making use of it today. Gartner predicts that the business value of blockchain technology will reach $3 trillion by 2030.
It is based on a peer-to-peer or P2P topology and is a distributed ledger technology that lets data be stored globally. It can be stored on thousands of servers and allows anyone on the network to see everyone else’s entries in real-time. While it may not replace old databases, there is a great opportunity for enterprises to store data. Blockchain has created amazing job opportunities today. If you plan on becoming a blockchain developer, you must be curious to know the blockchain developer salary in India.
- What is Blockchain and How Does it Work?
- Who is a Blockchain Developer?
- Blockchain Developer Salary in India
- Blockchain Developer Salary in other countries
- Skills Required to become a blockchain developer
- Roles and responsibilities of a blockchain developer
- How to become a blockchain developer?
- Top Companies who Hire Blockchain Developers
- Blockchain FAQs
What is Blockchain and How Does it Work?
Created in 2008, blockchain technology was first used by Bitcoin, which is the first decentralized cryptocurrency. Bitcoin used it as a method to store data in a way in which it is impossible to hack or alter it. Blockchain is a digital log of transactions that are duplicated and distributed across the complete network of computer systems. A block preserves data in such a way that it cannot be destroyed once it is produced. It becomes a blockchain when it is linked with other blocks. Many big organizations are embracing blockchain technology as a secure way to store confidential information and data. You can read more about blockchain technology on this blog post about Blockchain Technology.
Who is a Blockchain Developer?
A blockchain developer is someone responsible for developing and optimizing blockchain protocols. S/he is also responsible for crafting the architecture of a blockchain system and developing smart contracts. S/he deals with web apps that use blockchain technology. In simple terms, a person who is involved in the development of blockchain technology can be identified as a blockchain developer. This role can be classified into two main categories as follow:
- Core blockchain developers
- Blockchain software developers
A core blockchain developer is responsible for high-level decision making such as developing the architecture of a blockchain system. They also work towards deciding how their protocols should be designed, and designing the consensus protocol and other decisions related to the blockchain technology.
Whereas a blockchain software developer uses the architecture and protocols designed by the blockchain developer and builds decentralized applications that can run on blockchain technology.
A blockchain developer is also responsible for research, analysis, designing and execution of the full life cycle of blockchain applications. They make use of various programming languages that help them create interfaces and architectures for purposes such as payment processing. You can take up a free online Blockchain Basics course and enhance your knowledge about the same.
Blockchain Developer Salary in India
The salary of blockchain developers varies depending on several factors such as job location, company, number of years of experience, and skills. The jobs in this domain are increasing at the rate of 2000-6000%. The blockchain developers’ salary in India is seen to be 50-100% higher than other developer jobs.
The average Blockchain Developer Salary in India is 6.6LPA
Average Annual Salary by Experience ranges from 2.4 Lakhs to 23.2 Lakhs
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Blockchain Developer Salary in other countries
Now that we have seen the salary in India, we can have a look at blockchain developers salary in other countries across the world.
- Annual Salary of a blockchain developer in US is $96K
- Annual Salary of a blockchain developer in Singapore is around S$95,865
- Annual Salary of a blockchain developer in UK is over £68,000
- Annual Salary of a blockchain developer in Germany ranges from $60K to $150K
- Annual Salary of a blockchain developer in Canada is $95,000 CAD
- Annual Salary of a blockchain developer in Switzerland is USD 180,000
- Annual Salary of a blockchain developer in China ranges from Standard ¥45k to ¥60k, according to the Blockchain Council
Skills Required to become a blockchain developer
Before looking at the blockchain developer salary in India, one must be aware of the skills required. Basic knowledge of mathematics and algorithms is required. You must be well-versed in programming languages such as C, C++, Java, and Python and tools such as Geth, Remix, Mist, Solium, Parity, BaaS, and Truffle are important skills as well.
1. Blockchain Architecture
First and foremost, a blockchain developer must have an in-depth understanding of what blockchain is. S/he must know how it works and its architecture. Concepts such as cryptographic hash functions and ledger technologies come at a later stage. One of the best ways to get an understanding of the basic concept is to go through the bitcoin blockchain whitepaper. This can be considered as a tedious task, so learning from blogs/courses always helps.
2. Data Structures
You must know how to apply data structures when it is necessary. Blockchain developers are constantly working with existing data structures such as Merkle trees so that they can meet their network requirements. Throughout your career as a blockchain developer, you will work on numerous data structures along with advanced cryptography. This is used to build a secure system.
Cryptography is just as important as Data structures. Various methods and hash functions like SHA256 and KECCAK256 are used in blockchain development.
4. Smart Contract Development
Smart contract development has become very important these days. Most blockchain developers try to incorporate it in their functions as business logic can be easily applied to blockchain technology.
One of the core aspects of becoming a blockchain developer is to create and design decentralized applications. Thus, front-end and back-end development become important.
Roles and responsibilities of a blockchain developer
Job duties of a blockchain developer include setting up security measures that can help protect the organisation from cyber attacks. They also work on building infrastructure, educating sales personnel about the technology, and setting up best practices. Collaborating with other IT personnel during the design process is also part of the job.
We have seen above that a core blockchain developer works on the blockchain architecture and the security of the entire system. Some of the other responsibilities include-
- Designing blockchain protocol
- Coming up with the consensus protocols and a security pattern for the network
- Design the network architecture
- Supervising the entire network
Let us now take a look at the responsibilities of a blockchain software developer. The responsibilities are completely different from that of a core developer.
- Developing Smart contracts
- Supervising the entire stack running their Dapps
- Looking after the backend development related to blockchain
- Development of interactive front-end designs for Dapps
How to become a blockchain developer?
More Indian companies have joined the blockchain technology bandwagon. Since there is a significant gap between the number of jobs available and the number of skilled professionals in this field, now would be a great time to upskill. The first thing you must do is learn the basic skills required and the tools used by a blockchain developer. If you understand the core concept, it becomes easier to move forward in the field. Learn the process of the technology, and learn programming languages such as C, C++, Python. This will be very helpful when you are required to perform coding activities. Blockchain is a fairly newer field to work in, but the opportunity to be successful is higher as well.
Top Companies who Hire Blockchain Developers
Be it large organizations or startups, everyone is looking to tap into the blockchain market. Here are some of the companies who hire blockchain developers.
- TCS or Tata Consultancy Services
- Hyperlink InfoSystem
- WillowTree Apps
- Capgemini India Pvt Ltd
- Zensar Technologies
- HData Systems
- Tech Mahindra
The salary offered to blockchain developers depends on various factors such as job location, skills, years of experience and more. However, the average salary offered can range between 5,00,000-30,00,000 LPA.
Blockchain is a growing field and is the next big technological development. Blockchain developers are in high demand and are thus paid well. So yes, blockchain is a high paying job.
Yes. Blockchain developers are in high demand. According to a LinkedIn study, blockchain developers are one of the fastest growing and most-sought after technical skills in 2023. Blockchain developers are making 50-100% more than traditional developers.
Yes, blockchain developer is a good career. Blockchain is a growing field and is one of the most sought after technological skills at the moment. It is only said to grow in the coming years.
Blockchain is quite a complex technology and hence can seem quite daunting to learn. However, if you work in the right direction and gain the required skills, it can be an exciting new career to step into.
The duration taken to learn blockchain will depend on the person since everyone’s learning habits are different. There are various courses available to learn blockchain and each of them are of varied durations ranging from quick 6-7 hour crash courses to 16 weeks, and more.
To start a career in blockchain, you can learn a few fundamental concepts such as cryptography, smart contracts, shared ledger, and consensus. You can take up a free online course offered by Great Learning Academy and gain an understanding of basic concepts required for you to step into the world of blockchain.