Blockchain Career In 2022: Is it Worth It, and Why?

07-Sep-2022

The development of blockchain technology will eventually lead to a transition that will fundamentally alter the way we view the world. Numerous significant multinational corporations are creating blockchain-based services, such as IBM, which will offer monitoring systems for distribution and retail chains, and Spotify, which will manage copyrights. A few of the well-known businesses making significant investments in blockchain technology include Deloitte, Visa, and Google.

New technology could also significantly improve a variety of other industries, such as finance, elections, transportation, healthcare, and more. Blockchain is a popular topic right now in business. The adoption of the term "cryptocurrency" is one of the most important components of making cryptocurrencies popular. In the year 2022, investments in the industrial blockchain are forecasted to reach a whopping rate of $11,7 billion.

Blockchain Career In 2022

Despite the fact that blockchain technology is still in its infancy, digital currencies have brought it to the forefront, and many enterprises are investigating its benefits. As they prepare for the coming millennium, modern enterprises are undergoing tremendous adjustments. Businesses can reach a wider market and grow their customer base if they use more decentralized transactions. The implementation of blockchain technology assures dependable, secure, and trackable transactions and has a positive effect on the world economy.

Opportunities Available with A Career in Blockchain

Blockchain is no doubt at its nascent stage yet it has ushered in numerous advancements along with offering employment opportunities to young professionals who are enthused by the functionality and revolutionary nature of blockchain technology. Let us look into the major job opportunities that an individual with a career in blockchain technology can fetch:

Core Blockchain Developer

At the beginning of blockchain development, core developers concentrate on building the blockchain technology itself. They manage, plan, and develop the consensus protocol as well as the Blockchain's architecture. They are also in charge of guaranteeing the Blockchain system's security.

Blockchain Application Developer

Software programs based on the blockchain's design and capabilities are developed by blockchain application developers. These programs, which are built on Blockchain, are sometimes referred to as dAaps or decentralized apps. This indicates that they are very secure against cybersecurity assaults and are not always held by a single person. Thus, the front-end and back-end development of these dApps is essentially the responsibility of the blockchain software engineers.

Blockchain Project Manage

The development and implementation of Blockchain projects within an organization is the responsibility of the blockchain project manager. When a firm wishes to integrate Blockchain with its operations and modify its technological platforms for this, they are the first person employed. Blockchain project managers must be proficient in this technology and have excellent communication skills. They need great leadership qualities as well because they are in charge of developing Blockchain projects.

Blockchain Quality Engineer

Quality control is essential for Blockchain project development, just like it is for any other corporate project. So a Blockchain quality engineer is in charge of creating test automation techniques, automated test standards, and quality assurance (QA) protocols. In addition to all of this, the quality engineer oversees quality across the entire blockchain development process, including the creation of both mobile and web applications.

Skills Essential to Become A Blockchain Expert in 2022

As blockchain is adopted by varied industries, the job roles and positions will differ. However, how to become a blockchain expert in 2022, several inherent skills are essential that professionals cannot do without.

Necessary Skills for A Career in Blockchain

Cryptography

It goes without saying that you should be knowledgeable with cryptography if you wish to work with core blockchain. You must be familiar with a variety of ideas, such as public-key cryptography, which serves as the foundation for cryptocurrency transactions by adding a layer of protection. You should also be familiar with cryptographic hashing, which uses the hash function to create an output from an input.

Smart Contracts

A major component of blockchain is smart contracts, which allow two parties to enter into a contract directly with one another. Because they eliminate the need for a third party, smart contracts are so effective across a wide range of businesses. Therefore, if you want to work as a blockchain developer, you should be quite familiar with this idea since several programming languages are used in the blockchain.

Data Structures

The cornerstone of computer science, data structures are also crucial to the blockchain. In actuality, every block in the Blockchain is a particular type of data structure that houses the information associated with a special 32-bit whole number called a nonce. Therefore, it is certain that you will use a variety of data structures both when developing blockchain as a core blockchain developer and when implementing blockchain as a blockchain application developer.

Blockchain Architecture

You should be well-versed in Blockchain architecture. It mainly consists of three types: consortium architecture, where a group's members exercise authority but the system is not entirely decentralized; private architecture, where a small number of people participate in a private system; and public architecture, which consists of a decentralized network. The Energy Web Foundation, Sawtooth, and Bitcoin are three well-known examples of these three architectural styles.

Web Development

You will develop numerous web-based applications if you work as a blockchain application developer. It is crucial that you have in-depth knowledge of web development in such a case. Most of the time, you'll also need to construct Blockchain-based applications (dApps), which means you should be knowledgeable in web design and development in addition to Blockchain.

Communication Skills

You require great communication skills in addition to technical expertise if you work primarily in the corporate or project management aspects of blockchain. You should be able to explain the blockchain development cycle to your non-technical coworkers and superiors who are in charge of the company's deployment of blockchain technology as a project manager or quality engineer.

Is Learning Blockchain Worthwhile?

Yes, learning about blockchain technology is definitely worthwhile if you believe you have what it takes to pursue a career in a dynamic and cutting-edge sector that is only projected to expand. Blockchain is regarded as the following (and maybe more revolutionary) technology after the Internet, as was indicated at the opening of this article. Therefore, if that is the case, it is likely that blockchain will change how we work and how we live. Learning Blockchain when it is still new can help you avoid falling behind.

Blockchain Career Salary

Given that blockchain technology has several uses across numerous industries, its high demand is mirrored in its high salary. Blockchain experts have well compensated anywhere around the globe, even though various factors influence the pattern of income.

An overview of blockchain career salaries in various cities throughout the world is provided below:

UK - ₤ 68 K per annum
Singapore - S $95,865 per annum
Canada - CAD $ 95 K per annum
Germany- $ 60K to $150K per annum
Switzerland - USD 180K per annum
China - ¥ 45 K to ¥60 K
India- INR460K per annum
US -$96 K per annum

Blockchain technology is a ground-breaking innovation that has the potential to completely transform the working world as we know it. For tech professionals, learning about this topic represents a truly exceptional opportunity.