Ask anyone with their finger on the tech-pulse what one of the most in-demand roles of the near future will be, and Blockchain Engineer will be more than likely at the top.
Table of Content:
● How is Blockchain redefining the business of the future?
● What lies ahead for Blockchain innovation, and why are Blockchain Engineers in
such high regard?
● What type of work does a Blockchain Engineer do?
● How attractive is the prospect of becoming a Blockchain Engineer?
● Required Experience for Blockchain Engineers.
● What is the average Blockchain Engineer/Blockchain Developer salary?
Blockchain Engineers are increasingly finding themselves in high demand as companies
across multiple industries look to innovative new tech tools and methodology to protect and
distribute digital assets, and push industries toward new and exciting horizons.
Blockchain engineers are one of the more prominent components of global web3
development, and the skills and knowledge base Blockchain engineers retain could be the
difference between company growth and failure in the increasingly connected, hyper-digital
business landscape of the future.
How is Blockchain redefining the business of the future?
The potential for Blockchain to redefine the business landscape is enormous, and as you’ll
see, many of the seeds of this potential are wrapped up in the basics of how, and why,
Blockchain was created.
Investopedia succinctly defines Blockchain as the following:
➔ “A blockchain is a distributed database that is shared among the nodes of a
computer network. As a database, a blockchain stores information electronically in
digital format…The innovation with a blockchain is that it guarantees the fidelity and
security of a record of data and generates trust without the need for a trusted third
party”.
Blockchain is now-famous for its technological underpinning of cryptocurrency. However,
Blockchain is already bursting free of the shackles of simply recording monetary ownership
of assets, and spreading into new and exciting forms of digital record keeping and
unalterable asset ownership.
Blockchain tech now sits on the common lexicon as a guarantor of the security of digital
asset ownership, and the future is truly bright for this emerging sector.
Focus GTS Top Tip
It’s wise to remember Blockchain is still, for the vast majority of users, consumers
and shoppers, completely unknown, emerging tech. So our top tip for any recruiter or
HR pro in the market for Blockchain developers or engineers is to be aware there are
huge disparities in knowledge, use, and development stages (even within globalenterprises and especially at customer-facing levels).
Be patient, be adaptable and be realistic!
And, as Entrepreneur states, “There are 3 things that blockchains can do very well…Data
Authentication & Verification…Smart Asset Management…(and) Smart Contracts”.
Blockchain tech already covers a wide range of business functions, from digital signature
and encryption, to exchange and escrow.
What lies ahead for Blockchain innovation, and why are Blockchain Engineers in such high regard?
We’ve barely begun to scratch the surface of what Blockchain tech can offer businesses.
But predictions of just how revolutionary Blockchain tech can be run rampant. As this in-
depth collaborative piece from the Forbes Tech Council piece titled 13 Evolving And
Emerging Uses For Blockchain Technology notes, Blockchain tech is stated to be the
foundation of emerging solutions in a huge variety of industries, from finance to healthcare.
In it, 13 tech leaders offer examples of how Blockchain tech is revolutionizing asset
ownership, from statistic transparency to supply chain audits, data collaboration and
consolidation. Even established and relatively efficient administrative functionality such as
basic HR and payroll services can benefit from the targeted use of Blockchain tech. The
potential is seemingly limitless.
The question, really, is what can’t Blockchain do?
What type of work does a Blockchain Engineer do?
Blockchain networks require skilled technicians to create and implement Blockchain
solutions for enterprises. Although Blockchain was initially used primarily for securing
cryptocurrency, it’s now utilized in some of the most well-known companies, from IMB to
Walmart, from Goldman Sachs to Alibaba, in private, public and hybrid networks.
Creation and maintenance of public or private Blockchain networks require a Blockchain
engineer – a technically proficient and specialized computer engineer who can create,
implement, analyze and support a distributed Blockchain network.
Blockchain Engineers will more than likely work on established public Blockchain platforms
such as Ethereum, Corda, HydraChain or Openchain, however private and hybrid networks –
which are commonly called distributed ledger systems or shared ledger systems, rather than
Blockchains – can be built from scratch, and offer enterprises more flexibility and bespoke
access for stakeholders.
How attractive is the prospect of becoming a Blockchain Engineer?
With a competitive starting salary and promising career prospects, becoming a Blockchain
Engineer can be a very demanding, but incredibly rewarding career path.
But what exactly are the skills you need to become a Blockchain Engineer, and what do employers need to watch out for if they’re looking to hire one?
Required Experience for Blockchain Engineers.
Blockchain engineers are expected to have a degree in computer science or IT, with some
experience or certifications in cyber security and cryptography, one or more programming
languages, data analysis, distributed database systems, and knowledge of smart contracts.
Ideally, having experience in creating distributed applications is desired, but simply having a
working knowledge of the principles of Blockchain app creation, data structures and
cryptography will land most computer engineers close to a role.
Tech specialists could also look at Blockchain certifications to bolster an application – the
Certified Blockchain Developer certification from the Blockchain Council is one of the leading
providers of recognized Blockchain certifications, but other providers – such as the Certified
Enterprise Blockchain Professional certification, by 101 Blockchains, or the Coursera
courses on Blockchain Specializations could stand you in good stead.
There are some other niche skills and experiences that will help Blockchain engineers in
their quest to become experts in the field. For example, private ledger systems require
Blockchain engineers to understand the principles behind consensus mechanisms such as
Proof of Stake, Delegated Proof of Stake, Deposit based consensus etc, as well as the
application of hash functions and testing.
This is, naturally, on top of the wide array of tech soft skills good Blockchain engineers need
to display, such as communication, collaboration, teamwork, problem-solving and attention
to iterative feedback.
What is the average Blockchain Engineer/Blockchain Developer salary?
- According to Glassdoor, the average salary for a Blockchain engineer or Blockchain
developer is between $105,801 a year. - According to Hired.com, the average salary for a Blockchain engineer or Blockchain
developer is between $142,000 to $200,000 a year. - And Payscale averages out a Blockchain developer salary at $114,000 annually.