What do you know about blockchain technology? If you’ve ever heard or read anything about Bitcoin, you’re probably aware of its existence. If you only have a vague knowledge of blockchain, you’re going to learn a lot more. If you’ve heard of blockchain, you should investigate why blockchain developer wages are booming.
The following topics will be discussed in this article:
- What is Blockchain and How Does it Work?
- Who is a Blockchain Developer?
- Blockchain Developer Salary in India
- Different Types of Blockchain Developers and Their Roles
- Skills Required to Become a Blockchain Developer
- Responsibilities and Roles Blockchain Developers
- How to Become a Blockchain Developer?
- Factors that Influence the Salary of a Blockchain Developer
- Top Companies Who Hire Blockchain Developers in India
- Blockchain Developer Salary in Other Countries
- How To Prepare For a Blockchain Interview
- Skills Needed to Master for a Blockchain Interview
- Tips for Cracking a Blockchain Interview
What is Blockchain and How Does it Work?
Blockchain was created in 2008 and was first used by Bitcoin, the first decentralised cryptocurrency. Blockchain is a method of storing data in such a way that it is hard or impossible to alter, hack, or cheat it. A blockchain is a digital log of transactions that is duplicated and distributed across the blockchain’s complete network of computer systems.
A “block” is a way of permanently preserving data, similar to a page in a ledger, that cannot be changed or destroyed once produced. It is maintained by members of the online community known as “miners,” and it becomes a “Blockchain” when linked with other blocks.
Businesses and organizations are quickly embracing blockchain technology as a secure way to store sensitive data. Miners on Blockchain are compensated in Bitcoin for their efforts. Anyone can become a miner if they have the necessary tools and the time to devote to the task.
The next great technology revolution is blockchain. Blockchain development is a new field of development that has emerged as a result of it. It has the potential to change the way we handle data and conduct business. Blockchain was created to support Bitcoin, but it has proven to be so versatile and secure that it is being used by enterprises in a variety of industries.
Blockchain is a highly secure means of storing information and conducting transactions. By 2023, global spending on blockchain solutions is predicted to increase from 1.5 billion in 2018 to 15.9 billion. According to Gartner, the value of blockchain technology in the commercial world will exceed $3 trillion by 2030.
It is a distributed ledger system that allows data to be stored globally and is built on a peer-to-peer or P2P topology. It can be stored on thousands of servers and allows everybody on the network to view the entries of everyone else in real-time. While it may not be able to replace conventional databases, it does provide a significant potential for businesses to store data that is impossible to be altered by intruders.
Today, blockchain has provided incredible career prospects. If you want to work as a blockchain engineer in India, you probably want to know how much they make. But before we go into it, let’s define a blockchain developer.
Who is a Blockchain Developer?
A blockchain developer is in charge of creating and improving blockchain protocols which includes designing a network that can be used for data centralization and decentralization. S/he is also in charge of generating smart contracts. In other words, the Core Blockchain Developer lays the groundwork for others to build on. He works with blockchain-based online applications. In simple terms, a blockchain developer is someone who is involved in the development of blockchain technology.
Blockchain Developer Salary in India
The income of blockchain engineers is determined by a number of criteria, including work location, firm, years of experience, and talents. Jobs in this field are growing at a rate of 2000-6000 percent every year. In India, the pay for blockchain developers is estimated to be 50-100 percent higher than for other developer employment.
The salary ranges from Rs 5,00,000 to Rs 30,00,000 LPA on a broad scale, based on the numerous parameters listed above.
In India, the average annual salary is Rs. 801,938. A blockchain developer with three years of experience may expect to earn around $45,000 per year. The average salary for a blockchain developer in Europe is $73,300, while it is $136,000 in the United States.
Different Types of Blockchain Developers and Their Roles
There are two different kinds of blockchain developers:
- Core blockchain developers
- Blockchain software developers
A core blockchain developer is in charge of making high-level decisions, such as establishing a blockchain system’s architecture. They also focus on deciding how their protocols should be developed, as well as designing the consensus protocol and making other blockchain-related decisions. They should have in-depth knowledge of blockchain.
A blockchain software developer, on the other hand, produces decentralised applications that can run on blockchain technology using the blockchain developer’s architecture and protocols.
A blockchain developer is also responsible for the whole life cycle of blockchain applications, including research, analysis, design, and implementation. They use a variety of computer languages to construct interfaces and systems for a variety of applications, including payment processing, supply chain and many others.
Skills Required to Become a Blockchain Developer
Before looking into Blockchain developer salary in India, it’s important to understand what abilities are required. It is necessary to have a basic understanding of mathematics and algorithms. You must be proficient with programming languages such as C, C++, Java, and Python, as well as technologies like Geth, Remix, Mist, Solium, Parity, BaaS, Truffle, etc.
Following are the skills required to become a blockchain developer :
1. Design of the Blockchain/ Blockchain Architecture
A blockchain developer must first and foremost have a thorough understanding of what blockchain is. He or she must understand how it works and how it is built. Cryptographic hash functions and distributed ledger technologies are introduced later. For example, going over the bitcoin blockchain whitepaper is one of the greatest methods to grasp the fundamental concept. This can be a time-consuming task, thus studying from blogs/courses is usually beneficial.
2. Data Structures
You must be able to use data structures when they are required. To suit their network requirements, blockchain developers are continually experimenting with existing data structures such as Merkle trees, etc. As a blockchain developer, you will work with a variety of data structures as well as complex cryptography. This is used to build a safe system.
Data architectures are equally as crucial as cryptography. In blockchain development, many algorithms and hash functions such as SHA256, KECCAK256 and others are used.
4. Smart Contract Development
Smart contracts are essentially programs that run when predetermined criteria are satisfied. They’re usually used to automate the execution of an agreement so that all parties can be certain of the conclusion right away, without the need for any intermediaries or time waste.
The creation of smart contracts has become increasingly essential in recent years. Because business logic can be easily applied to blockchain technology, most blockchain developers aim to incorporate it into their services.
Creating and designing decentralised applications is one of the most important components of becoming a blockchain developer. As a result, both front-end and back-end development are critical.
Responsibilities and Roles Blockchain Developers
A blockchain developer’s responsibilities include putting in place security measures to assist safeguard the company from cyber assaults. They also work on infrastructure, training salespeople on new technology, and establishing best practises. Working with other IT personnel during the design phase is also a requirement of the position.
As we’ve seen, a core blockchain developer is responsible for the blockchain architecture as well as the overall security of the system. The following are some of the other responsibilities:
- 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’s take a closer look at what a blockchain software engineer does. The responsibilities differ significantly from those of a core developer.
- Smart contract development
- Supervising the complete stack while their Dapps are running
- Taking care of blockchain-related backend development
- Development of Dapps’ (Decentralized Apps) front-end designs
How to Become a Blockchain Developer?
More Indian businesses have jumped on the blockchain bandwagon. Given the large difference between the number of jobs available and the quantity of experienced experts in this industry, now is an excellent moment to upskill.
Step 1: Learn Basics
The first step is to understand the fundamental skills and tools required for blockchain development. This comprises the fundamental concepts, ideals, and architecture of the blockchain. Learn about decentralisation, including its public and private approaches, the use of consensus in network decision-making, and more. It is easier to progress in the field if you comprehend the fundamental concept. Learn how technology works and how to programme in languages like C, C++, Python and others.
Step 2: Start Coding
Now that you have a firm grasp on the fundamentals and applications of cryptocurrencies, it’s time to get serious about coding.
Solidity is a good place to start for beginners. It will assist you in creating and developing Ethereum-based dApps and smart contracts.
You may also look at the open-source code of several blockchain platforms.
Step 3: Understanding Smart Contracts
One of the most important blockchain ideas to understand is smart contracts. It’s a computer protocol that’s analogous to a real-life legal contract.
You can use it to automate or enhance your dApps’ functionality. A smart contract must have three key characteristics: it must be deterministic, terminable, and isolated.
Step 4: Keep yourself Updated
Take the time to read blockchain-related material. There are numerous websites that provide high-quality blockchain content. This will keep you updated with the new technologies being implemented in blockchain.
Factors that Influence the Salary of a Blockchain Developer
The salaries of these developers are rising, and there are a number of reasons for this. Here is the compilation list of some of the most important variables that will assist in planning the future.
Experience is the most important aspect in determining a high developer income. As with other careers, the most important factor is experience. Your chances of earning will be better if you have prior experience with this technology and have worked on a variety of projects. Always keep in mind that the more experience you get, the more senior positions you can apply for and the more money you can earn.
Complete Beginner with experience of 0 – 1 years in both software development and blockchain :
A graph depicting the Salary (per year) vs Number of people getting that Salary :
New Developer with experience of 1 – 2 years in software development and 0 – 1 years in blockchain :
A graph depicting the Salary (per year) vs Number of people getting that Salary :
Experienced Developer with experience of 2 – 4 years in software development and 0 – 1 years in blockchain :
A graph depicting the Salary (per year) vs Number of people getting that Salary :
Highly Experienced Developer with experience of 6 – 10 years in software development and 2 – 4 years in blockchain :
A graph depicting the Salary (per year) vs Number of people getting that Salary :
Another element that determines a developer’s salary in the Blockchain field is their experience. The more technologically advanced a city is, the better the prospects of earning more money. If you are willing to relocate to a more advanced position, you will have more opportunities to demonstrate your qualifications.
|Job Location in India||Salary per annum|
Job roles are dependent on two factors. The experience of the candidate and the tech stack in which the candidate is comfortable. We have discussed the salary based on experience. The salary varies based on the different job roles as follows :
|Job Role||Base Salary Per Annum|
|Smart Contract Engineer||$100K – $150K|
|Integrations Engineer||$80 – $120K|
|Core Engineer||$125K – $180K|
|Smart Contract Developer||$60K – $120K|
|Solidity Smart Contract Engineer||$80K – $130K|
Skillset is an important factor in deciding the salary of a blockchain developer. Having a firm understanding of networking and distributed systems is a great advantage. The salary also varies depending on one’s knowledge in different decentralised applications like HyperLedger, Ethereum, NEO and EOS.
Aside from all of the above factors, having a certification is another component that contributes to high package earnings. Such courses assist in showing your genuine abilities, demonstrating your ability to stand out from the crowd, and resulting in industry recognition, increased career opportunities, and, of course, increased money. Because instructor-led seminars carry certifications and specialist courses, they provide an in-depth grasp of the Blockchain space.
With certification, the salary can shoot up from 5 LPA to 30 LPA in India.
There is a common assumption that certifications are only for novices. This is not the case. Even experienced professionals can obtain certification.
Top Companies Who Hire Blockchain Developers in India
- Hyperlink InfoSystem
- Tata Consultancy Services
- Capgemini India Pvt ltd
- WillowTree Apps
- Zensar Technologies
- Tech Mahindra
- HData Systems
Blockchain Developer Salary in Other Countries
In a single word, outstanding! As the demand for blockchain engineers and developers continues to rise, blockchain developer salaries are increasing around the world. According to CNBC, blockchain developers can earn a salary equivalent to that of artificial intelligence (AI) developers, which is a lot of money!
Here are some wages for blockchain developers in various parts of the world.
Keep in mind that these estimates can vary depending on geographic region, firm size, demand spikes, and other variables.
- In India, the average annual salary for a blockchain engineer is around Rs. 460K.
- A blockchain developer’s average yearly salary in the United States is above $96K.
- A blockchain developer’s average annual salary in the United Kingdom is approximately £68,000.
- A blockchain developer’s average yearly income in Singapore is roughly S$95,865.
- In Canada, the average annual income for a blockchain engineer is $95,000 CAD.
- In Germany, a blockchain developer’s annual income ranges from $60K to $150K.
- In Switzerland, the average yearly income for a blockchain engineer is USD 180,000.
- In Canada, the average yearly salary for a blockchain engineer is C$136,500. Furthermore, an entry-level position pays on average C$78,500.
- According to the Blockchain Council, the average yearly income of a blockchain engineer in China is from Standard 45k to 60k. Directors and managers make between $60k and $120,000 a year.
How To Prepare For a Blockchain Interview
Blockchain is without a doubt one of the market’s most promising newcomers. As a result, many people are looking for blockchain expertise right now. To nail the blockchain interview, you’ll need the necessary skills.
So, how should you prepare for your blockchain interview? To sum up, you’ll need to understand all of the blockchain principles and make sure you’re ready for your specific blockchain-related career.
Aside from these, there are numerous more important factors to consider before to attending an interview. You must have a firm understanding of Data Structures and Algorithms and Computer Networks. You must have hands on programming. Underneath is mentioned the outline with respect to kind of skills that would need to master.
Skills Needed to Master for a Blockchain Interview
Start with the Fundamentals of Blockchain.
You must first comprehend the principles of blockchain technology in order to prepare for a blockchain interview. It’ll be crucial because you’ll be besieged with questions from here on. If you don’t grasp blockchain technology, you won’t be able to answer these questions correctly.
You should learn how blockchain technology works in general, as well as its different features and history. Examine their application situations as well.
Improve Your Cross-discipline Broad Skills
The best way to prepare for a blockchain expert interview is to improve your cross-discipline skills. In order to succeed in any business situation, you will need to display these talents regardless of your path in the blockchain job industry.
Companies generally seek employees who can not only code but also effectively manage projects. You would also be expected to handle critical problems in a short amount of time. They also look for candidates having good problem solving skill.
The general concept is that the interviewer might ask a slew of expert-level questions that will necessitate a great deal of wit to answer. The more you polish your cross-discipline skills, the more assured you will be in your ability to answer all of the questions.
So, start by strengthening your talents in analysis, management, DevOps, thinking, flexibility, market forecasting, and other areas. Actually, if you can do this while exhibiting your technical knowledge, you should be able to get employed right away during the interview.
Learn About the Different Blockchain Platforms
To prepare for a blockchain expert interview, familiarise yourself with all of the major blockchain systems that are now available on the market. It’s critical to know which platforms are best suited for use in a business setting.
In reality, if you don’t have any experience with another platform, building a solution for it can be difficult. Much more so than in law enforcement or marketing, you must present the solution to clients. As a consequence, if you don’t grasp the concept, you won’t be able to sell it to your customers.
Check out Hyperledger, Quorum, R3 Corda, Enterprise Ethereum, and more similar projects.
Learn to Couple Business with Technology
More innovation is required to drive business from blockchain. Because it is a new technology, it will take some time for everyone to adopt it. As a result, when working in an enterprise setting, you may need to be resourceful in order to include this technology.
In truth, a corporation can’t rely solely on technology to be competitive. There are many additional factors to consider. So, while you’re preparing for a blockchain expert interview, be sure to study about the technology’s market value.
As a result, you’ll be able to confidently respond to questions concerning the scenario whenever they arise. As a result, you should make it your top priority as well.
Know About Distributed Ledgers and Decentralized Platforms as Well
This is crucial while preparing for a blockchain programming interview. All types of coders must know decentralisation and the numerous distributed ledgers. This is because while blockchain is one form of distributed ledger, it is by no means the only one available.
There are many more distributed ledgers (Decentralized databases) to choose from, and if you know how to utilise them, you can quickly create a solution.
Keeping this in mind as you prepare for blockchain engineer interview questions is a good idea. This step is mostly technical, therefore you should get professional guidance to better understand it.
Understand Enterprise Business Processes
Make an attempt to understand firm business practises as well when preparing for a blockchain coding interview. In reality, these skills are necessary for thinking and laying out a plan for your solution.
Procurement, logistics, distribution, supply chain, treasury operations, and other related areas require a fundamental understanding. It will unquestionably help you impress your HR manager throughout your interview. It will also aid you in landing a better job in this industry.
Be Able to Couple Creativity with Simplicity
This method works well for both technical and non-technical interviews. Regardless of your role inside the organisation , you must be able to blend originality and simplicity. More crucially, any application will benefit from the ability to generate a solution without adding complexity.
Having too many functionalities, in any event, tends to confuse consumers, thus it’s best to avoid it. During the interview, you may be presented with a hypothetical scenario and asked to answer the problems.
Grasp How Blockchain Standards and Ecosystems Work
When you interview for a career as an engineer or developer, you may expect a lot of technical questions concerning blockchain ecosystems and standards. So, if you’re preparing for a blockchain coding interview, keep these criteria in mind.
If you already know about these things, always go over what you’ve studied again before the interview. Before answering all of the questions, it’s a good idea to refresh your memory.
Learn to deconstruct all of the structures of popular platforms to gain a better understanding. Basically, this is where the majority of individuals mess up their interviews. As a result, exercise extreme caution in this area.
Improve Your Communication Skills
Communication is a major factor in acing an interview. Perhaps you are well-versed in technology and can programme more quickly than your competitors. You, on the other hand, have no idea how to communicate value.
What this means is that if you can’t speak intelligently, your chances of getting hired are slim to none. To work in a collaborative atmosphere, you must be communicative in reality. To be honest, you’d also have to communicate your solutions to potential clients.
As a result, when preparing for a blockchain coding interview, don’t forget to brush up on your communication abilities as well.
Gain Knowledge of Different Development Tools
When preparing for a blockchain coding interview, another thing to keep in mind is the utilisation of development tools. When it comes to designing a solution for businesses, development tools save a lot of time.
To create their solutions, many high-end developers use blockchain development tools. To be honest, they are quite helpful. And, if you’re in a fast-changing market, you’ll have to stick to a hard timetable.
As a result, the employer would expect you to complete all of your tasks within that deadline, which would be difficult without these tools. As a result, you should educate yourself on these tools.
Tips for Cracking a Blockchain Interview
There are a few key points to keep in mind as you prepare for blockchain interview questions.
1. Study the Company
To prepare for blockchain interview questions, do some research about the company you’re interviewing with ahead of time. Why? Well, it’s a vital step that will assist you in better preparing for the interview.
You’ll also get a sense of what the interviewer might ask during the interview. In many circumstances, companies may ask you questions about their business, and studying them will offer you an advantage over your competition.
As a result, strive to learn as much as you can about the company and your potential roles. The organisation would like someone who understands how their policies work and can contribute as a team member. I understand that may be difficult, but try to broaden your network and ask anyone from that company whether you are familiar with them.
Here are some things to consider.
- Learn About the Service or Product
- Research the Role
- Research the Company Culture
2. Keep your skills up to date
The blockchain is always evolving. As a result, if you don’t keep up with every new discovery, it’s quite easy to slip behind and become outdated. Businesses, in particular, are evolving. So, if you’re still using a business plan that went out of style a few years ago, you’re not going to ace the interview.
In any case, try to map your talents based on what is now hot in the market to prepare for blockchain interview questions. Also, try to add your own spin to the system. As a result, you can assist your corporation in shining as well.
3. Research Blockchain questions
You may start predicting what questions they’ll ask you if you’ve obtained enough technical understanding about blockchain and your organisation. You can read about interview experiences and questions asked in such interviews. It will be quite beneficial in terms of preparing for blockchain developer interview questions.
It can also lead to generic queries in some circumstances. As a result, make sure you’re ready for them as well. The following are —
- Why did you choose this company?
- The decision to change careers was motivated by a number of factors.
- What drives you?
- Whether you have a long-term strategy in place or not
- Weaknesses and strengths
4. Join a Community
Blockchain specialists are expected to surpass the other applicants in the interview. But, you won’t be able to become a blockchain specialist until you have a firm grasp on the technology’s principles. So, what’s the best way to go about it?
One option is to become a member of a blockchain community. It comes with a long list of benefits. In addition, a community will always have high-end programmers who can help you improve your coding skills.
Furthermore, when you are a part of a community, remaining updated is easy. They have to cope with the latest technological breakthroughs on a regular basis.
As a result, try and join a community in which you can learn everything there is to know about blockchain while preparing for a blockchain expert interview.
5. Think Before Answering
Always consider your response before responding to a question. There is no reward for answering incorrectly and quickly. Before you respond, try to pay attention to their questions. It will greatly assist you in strategically answering the question.
On the other hand, keep in mind that if you have previously worked, you should never discuss your previous employer’s experience with them.
6. Focus on Body Language and Speaking Voice
The importance of first impressions cannot be overstated. As a result, remember to dress appropriately and present yourself in order to make a strong impression on them. It’s critical to keep a favourable and lasting impression when preparing for blockchain engineer interview questions.
But how are you going to accomplish it? Start with a confident, firm voice that is neither too loud nor too modest. Maintain an open and welcoming body language as well. If this isn’t your natural manner, repeat the process from the beginning to master it.
Also, remember to pay attention to handshakes and smile during the interview. In reality, every move will be scrutinised from the moment you enter the building. As a result, exercise extreme caution in this situation.
7. Conduct Mock Interviews
Conducting mock interviews is the greatest approach to prepare for blockchain engineer interview questions. You might also enlist the assistance of your friends and family members. In actuality, training ahead will help you overcome any worry you may have as well as boost your performance.
More importantly, always thoroughly practise the technical questions in order to become proficient. When answering in front of the interviewer, the challenge is to not mumble even once. It may seem strange at first, but you’ll get used to it.
Finally, if you don’t know what you’re doing, blockchain interview preparation can be a bit hard. Knowing about the technology isn’t enough. Furthermore, because this technology is so distinct and essentially new, even businesses may not be aware of all the changes.
So, if you can demonstrate your knowledge in the interview, you’ll almost certainly get the job.
1. Is Blockchain developer in demand?
In India, there is an increasing demand for Blockchain Developers.
Today, Blockchain is one of the fastest-growing skill sets, with wages for Blockchain Developers 50-100 percent more than traditional developer salaries.
2. Does Blockchain require coding?
The data in the Blockchain is stored in blocks rather than tables. The ability to create a data structure from scratch is also required of a blockchain developer. Programming languages such as C++, C-Sharp, C, Scala, Java, Python, etc are also required.
3. How long will it take to learn Blockchain?
All Blockchain certificates offered by Blockchain Council are intended to be completed as self-paced instruction over the course of 6-8 hours. Obtaining certification will assist you in gaining a thorough understanding of Blockchain and its implementation, as well as demonstrating your Blockchain abilities and knowledge.
4. Is Blockchain difficult to learn?
Blockchain is both revolutionary and complex, making it difficult to grasp. You should not, however, be scared to master the essentials…. Decentralization, mining, and a consensus mechanism are the core concepts of Blockchain. It is a cryptographically secure chain of immutable blocks.
5. How do I start a career in Blockchain?
Understanding the fundamentals of blockchain is the first step toward a career in the field. The following are the fundamental concepts in Blockchain :
- Shared Ledger.
- Consensus/Trust Mechanism
- Smart Contracts
- Does Blockchain have a future?
Blockchain technology offers a wide range of applications in a variety of industries. Identity management, smart contracts, supply chain analysis, and other applications of blockchain are already in use. The full potential of blockchain technology is likely to be discovered.