Following are the topics that will be covered in this blog on Blockchain Developer salary for freshers and experienced. First, you will be learning who Blockchain Developers are and their skills, and then in the latter part of the blog, you will get to know how much do they earn across different regions of the world.
What is Blockchain?
Initially, Blockchain came out as a means of supporting Bitcoin. A “block” is like a page in a registry that stores data but it can never be changed or deleted. People known as the “miners” are responsible for maintaining these blocks. When these blocks are linked together, a blockchain is formed.
Blockchain has proved to be an extremely reliable way of storing sensitive information. So much so that many organizations have started adopting it.
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Who is a Blockchain Developer?
To put it simply, the developers who are in any way involved in the development and optimizations of Blockchains and their protocols can be considered Blockchain Developers. They are responsible for the construction of a Blockchain system’s architecture and the development of smart contracts. They also work with web apps that use Blockchain technology.
There are two main categories of Blockchain Developers:
- Core Blockchain Developers
- Blockchain Software Developers
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Core Blockchain Developers
A Core Blockchain Developer is in charge of all the vital decision-making related to Blockchain. The professional primarily focuses on developing the architecture of a Blockchain system and making all the decisions for the protocol and consensus protocol designs.
Core Blockchain Developers are responsible for supervising the Blockchain network, designing its architecture, and the security of the network.
Blockchain Software Developers
Blockchain Software Developers make use of protocols and the architecture configured by the Core Blockchain Developers and develop decentralized applications that can run on Blockchain technology.
Blockchain Developers research, analyze, design, and execute the complete life cycle of Blockchain applications with the help of various blockchain programming languages.
What does a Blockchain Developer do?
Blockchain Developers set up security measures to safeguard organizations from cyberattacks. They are also responsible for building infrastructure, collaborating with other teams during the design process, coming up with best practices, educating sales personnel about the technology, etc.
Responsibilities of a Core Blockchain Developer
We already know that Core Blockchain Developers work on the architecture of a Blockchain and complete system security. Some of the other responsibilities include:
- Blockchain protocol designing
- Setting up consensus protocols and security patterns for a network
- Network architecture designing
- Complete network supervision
Responsibilities of a Blockchain Software Developer
Some of the responsibilities of Blockchain Software Developers are:
- Smart contract development
- Development of interactive front-end designs for DApps
- Supervision of the complete stack running the DApps
- Supervision of the backend Blockchain-related development
Factors Affecting Blockchain Developer Salary
There are a number of factors that affect a Blockchain Developer’s salary. These include the role, position, experience, and location of the job. The demand for this role has increased by over 500%. The salary is usually about 50%-100% higher than the other developer jobs.
Blockchain Developer Salary in India
The average annual salary of a Blockchain Developer in India is ₹647,285, according to Glassdoor. Below are the average Blockchain Developer salaries in different cities in India as per the statistics from Glassdoor:
- Bangalore: ₹627,632 p.a.
- Mumbai: ₹646,198 p.a.
- Delhi: ₹674,256 p.a.
- Hyderabad: ₹413,584 p.a.
- Pune: ₹828,912 p.a.
- Chennai: ₹579,206 p.a.
The below lists what other countries are paying their Blockchain Developers:
- The Salary of a Blockchain Developer in the USA: US$109,766 p.a.
- The Salary of a Blockchain Developer in Canada: CA$103,709 p.a.
- The Salary of a Blockchain Developer in the UAE: AED17,500 p.a.
- The Salary of a Blockchain Developer in the UK: £55,232 p.a.
- The Salary of a Blockchain Developer in Australia: AU$89,900 p.a.
- The Salary of a Blockchain Developer in the Philippines: ₱40,200 p.a.
- The Salary of a Blockchain Developer in Singapore: S$93,000 p.a. (PayScale)
Senior Developers with Blockchain expertise have a significantly higher income. Furthermore, with the increase in demand for software security that consists of more layers to prevent fraudulent activities and cyberattacks, salaries go higher.
Blockchain Developer Salary: Based on Roles
There are basically two different types of roles that a Blockchain Developer does and we’ve already talked about them – Core Blockchain Developer and Blockchain Software Developer.
There are five basic job roles that they can take:
- Smart Contract Engineer
- Integrations Engineer
- Core Engineer
- Smart Contract Developer
- Solidity Smart Contract Engineer
Let’s look at the salary trends for this role in India and the US:
| Role | India | US |
| Smart Contract Engineer | ₹722,698 | $89,425 |
| Integrations Engineer | ₹672,449 | $97,151 |
| Core Engineer | ₹400,000 | $112,111 |
| Smart Contract Developer | ₹550,000 | $80,760 |
| Solidity Smart Contract Engineer | ₹500,000 | $75,560 |
Blockchain Developer Salary: Based on Positions
Senior Blockchain Developers rake in good money but even the entry package into the field is a lot of money. Following are the salary trends for Blockchain Developers working in different positions:
| Position | India | US |
| Blockchain Analyst | ₹1,307,290 | $70,892 |
| Blockchain Architect | ₹1,914,805 | $110,014 |
| Blockchain Engineer | ₹803,695 | $105,180 |
Blockchain Developer Salary: Based on Company
The top companies that hire Blockchain Developers are as follows:
| Company | Salary |
| Tata Consultancy Services | ₹600,000 |
| Accenture | ₹1,000,000 |
| Tech Mahindra | ₹750,000 |
| Robert Bosch India | ₹1,100,000 |
| HCL Technologies | ₹2,000,000 |
How to become a Blockchain Developer?
There is a huge gap when it comes to the demand for Blockchain Developers in the market and how many professionals are actually qualified to be one. An increasing number of companies are hiring Blockchain Developers every year. There are some skills that a Blockchain Developer must possess:
Technical Fundamentals
A bachelor’s degree in computer science or information security is required to be able to handle the duties of a Blockchain Developer. Java, C++, and Python are some of the programming languages that are relevant to Blockchain development.
Data Structures
Blockchain Developers possess a solid understanding of data structures, such as binary search trees, graphs, maps, hash, and linked lists, to handle the complexity of Blockchains.
Cryptography
Blockchain is founded on the pillars of cryptography; it makes cryptocurrencies work. Cryptography can create hash functions and digital signatures. Blockchain Developers are skilled in message integrity, ECDSA, authenticated encryption, RSA, and block ciphers.
Networking and Distributed Systems
Blockchain Developers have a strong foundation in distributed ledgers and how they work. They also know about peer-to-peer networks, which comes from a good understanding of computer networks. It is not necessary to know everything, but a good understanding of distributed systems is sufficient to help one become a Blockchain Developer.
Cryptonomics
It is wise to be familiar with the economic structures that surround cryptocurrencies. It is essential to have an understanding of the factors that affect currency valuation as well as the monetary policies that influence cryptocurrencies. The Game theory is also ideal for modeling scenarios, in which there are conflicts of interest among parties.
Smart Contracts
A smart contract is essentially a program that starts running on the Blockchain upon the completion of a transaction. It automatically executes, controls, or documents events and actions according to the terms of the agreement that is created between the buyer and the seller, which is written into the lines of code. The code and the agreements exist across a distributed, decentralized Blockchain network.
Smart contracts are enforced automatically and impartially and do not need a middleman to oversee a transaction. Complex smart contracts are harder to secure. Currently, there are not many developers who can properly audit and optimize smart contracts.
Decentralized Applications (DApps)
Decentralized applications, otherwise known as DApps, are software that is built on Blockchains. Blockchain Developers use a variety of platforms to develop a DApp. Some popular ones are:
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Blockchain Developer Career Path
After training in all the skills required for becoming a Blockchain Developer, you can start as an Entry-Level Blockchain Engineer. It definitely helps to have some experience in working in Blockchain to show in your portfolio.
Once you are through that door and gain some experience, you move on to a Junior Level Blockchain Developer/Engineer. Here, your responsibilities will mostly be support-related. You’ll be debugging apps and designing ledgers according to different platforms.
As you expand your knowledge and experience, you can go up to the position of Senior Blockchain Developer/Engineer. Under this role, you may work as a Blockchain Architect where you’d be designing Blockchain networks. You could also work as a Blockchain Quality Engineer, where you’d work on implementing automation strategies and creating a QA test standard.
Further ahead you could become a Blockchain Project Manager. In this role, you would be managing, planning, and supervising Blockchain projects.
Blockchain Developer Certifications
A career in Blockchain Developer might seem extremely lucrative now, doesn’t it? The way for you to get there is to upgrade your skills. No matter where you are starting from, you can step into the Blockchain Developer career path. Intellipaat offers an in-depth course for people who want to pursue Blockchain Development as their career.
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Conclusion
As you can see, the average annual salary of Blockchain Developers is pretty high, but it also depends on a lot of factors such as location, experience, as well as demand, and requirements. Hope this blog gave you a picture of how much you would earn if you were to pursue a career in Blockchain technology. As the future of Blockchain Technology is getting bright.