India explores blockchain as report shows a 700% rise in the demand for blockchain developers
The richness of mobile apps, cloud computing, the power of big data and analytics or the infectious nature of social media are all well-established technologies and are now common in organizations. In the financial services industry, blockchain provides guaranteed peer-to-peer payment services without the intervention of brokers or any third parties.
Microsoft revealed that job listings for the software engineers that are more skilled in blockchain technology development increased by at least 30 times in Because of a hike in the pay for blockchain developers, there is an increased demand for technical talent, so the jobs were also on the rise. This has resulted in a job rate percentage as high as percent. Glassdoor, one of the famous job sites, also reported that cryptocurrency and blockchain sector jobs have risen by percent.
By identifying a list of key use cases for smart contracts to prioritize in order to both attract development talent and seed the marketplace with strategic smart contracts, Modex is set to bridge the gap between businesses and blockchain developers, based on real-world needs.
Placing developers and their needs first by offering them the full suite of blockchain tools in one place, Modex encourages innovation and creativity. Seeking the facilitate blockchain adoption, the team behind Modex believes that blockchain can really change our future for the better, bringing added value while disrupting traditional industries. Modex is fighting to make a difference for developers and blockchain aficionados, by providing them an ecosystem which nurtures creativity and productivity.
This ecosystem, dubbed the Modex Unified Developer Environment has recently seen the launch of the beta version of the Modex IDE , a valuable tool developed by developers for developers in order to streamline code writing and to simulate the blockchain development sphere. Available for Windows, Mac and Linux, Modex IDE comes with fully integrated syntax support for Solidity, autocomplete capabilities, syntax highlighting and offline Solidity compilation and analysis.
What sets the current release apart from other IDEs available in the market is the fact that it comes with an integrated test net and the capability to directly deploy a smart contract to the test environment. With a strong panel agenda featuring international speakers and key figures on the Blockchain scene, MindChain will bring forward the latest use cases for Blockchain and AI across a comprehensive mix of industries, such as retail, finance and banking, real estate, transportation, as well as emerging areas such as art, entertainment and media.
Sign in. Announcements Older Articles. Demand for blockchain developers continues to skyrocket. The Modex Team Follow. The official blog of Modex Smart Contract Marketplace. Find out more at www.
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CCN reported that the U. As of now, the demand for top talent is very high in the tech food chain sector. Either party, a blockchain software platform, enables consumers to create a digital agreement that is enforceable for all types of zero contract programming transactions. As the basis for cryptocurrency transactions, blockchain has received considerable attention, but technology has many uses beyond the recording of bitcoins. The breakthrough in bitcoin and the technological communities approaching the digital currency has resulted in an extremely new format for the definition of blockchain as a distributed leader.
The richness of mobile apps, cloud computing, the power of big data and analytics or the infectious nature of social media are all well-established technologies and are now common in organizations.
In the financial services industry, blockchain provides guaranteed peer-to-peer payment services without the intervention of brokers or any third parties. Microsoft revealed that job listings for the software engineers that are more skilled in blockchain technology development increased by at least 30 times in Because of a hike in the pay for blockchain developers, there is an increased demand for technical talent, so the jobs were also on the rise. This has resulted in a job rate percentage as high as percent.
In recent times, blockchain has become a magic word for organizations, who are applying the technology to solve complex problems.
Some of that magic seems to be rubbing off on career prospects for those working in the industry. There are numerous data points which testify to the growing demand and salaries for blockchain developers. Glassdoor, a jobs review site, found that demand for blockchain-related jobs this year increased by percent as compared to last year.
New York accounted for the maximum number of openings in the technology followed by San Francisco and San Jose. Chicago and Seattle rounded out the top five. The skyrocketing demand for blockchain-related jobs has also translated into a significant salary bump. That salary range puts blockchain developers on par with another in-demand group — engineers with expertise in artificial intelligence. As a skill set, blockchain is a combination of existing programming technologies and concepts, such as object-oriented programming and ledger economics, with an understanding of cryptography.
As such, demand for other roles, such as product managers and requirements specialists, within the industry is also growing. High salaries for workers in blockchain are a function of increased demand and short supply. Established firms have embraced blockchain and announced initiatives specifically related to the technology.
For example, Microsoft Corp. IBM Corp. IBM has also launched a division dedicated to blockchain, basing it on an open-source fabric Hyperledger. Even social media behemoth Facebook Inc. A shortage in skills supply has helped further inflate salaries for blockchain experts. Universities are also in on the game and have launched online courses to educate professionals.
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Additionally, the World Economic Forum just released a toolkit to help executives better understand whether blockchain is an appropriate and helpful tool for their business needs. As more executives try to navigate this technology, there is soaring demand for talented experts familiar with it who can help demystify it and explore potential uses, Upwork noted.
Enterprises are considering the ways blockchain distributed ledgers can create more efficiency by eliminating the need for central administration, as is required with a relational database. I think it's driven largely by the fact that when there's a new technology out there, to some degree people want to be buzzword compliant with the latest and greatest.
Banks are moving toward blockchain in droves for its ability to create an open, cross-border system for clearance and settlement of financial transactions. IBM, for instance, has built a new blockchain-based financial service for use as a cross-border currency exchange by several banks.
Last year, IBM partnered with a Polynesian payments system provider and an open-source FinTech payment network to implement a new international exchange based on the blockchain electronic ledger.
Mastercard is launching its own blockchain-based network to enable partner banks and merchants to make cross-border payments faster and more securely.
The Mastercard blockchain service can be used to clear credit card transactions and eliminate administrative tasks using smart contract rules — thus, speeding transaction settlement. The financial services giant said the blockchain-based Interbank Information Network "will enhance the client experience, decreasing the amount of time — from weeks to hours — and costs associated with resolving payment delays. It can also be used as a private electronic ledger.
Each digital record or transaction in the thread is called a block hence the name , and it allows either an open or controlled set of users to participate in the electronic ledger. Each block is linked to a specific participant. Ninety percent of goods in global trade are carried by the ocean shipping industry each year. A new blockchain solution from IBM and Maersk will help manage and track the paper trail of tens of millions of shipping containers across the world by digitizing the supply chain process.
Blockchain can only be updated by consensus between participants in the system, and once new data is entered, it can never be erased. The blockchain contains a true and verifiable record of each and every transaction ever made in the system. While blockchain skills initially showed up in artificial intelligence and automation fields, they've now spread into other, more traditional roles, such as software developers, financial quantatitive analysts, and network engineers.
If you look at some of the jobs growing the fastest and are highest value to companies are those with a sort of mixed-skill genome," Sigelman said. In fact, it might be the perfect time: blockchain developers are in very high demand but there seems to be a shortage in the market. There are thousands of blockchain vacancies advertised on LinkedIn right now, all over the world.
Naturally, blockchain is a new technology, and the path to job success is still not set in stone. Therefore, if you want a career in blockchain, you have the opportunity to be as new and innovative as the technology itself. Traditional paths are not yet defined — although recently blockchain courses have started to pop up in a few select Universities, there is no one major that will fully prepare you for this career.
At these initial stages, in many cases skill is more important than a formal education. So companies will look at your abilities, and you will need to be able to show hunger and willingness to study and improve your knowledge. Blockchain is a very unique proposition, and understanding its value is the first step in the road to a blockchain job. A successful blockchain developer needs to understand the technology main features, such as decentralization and smart contracts, and have some technical skills, like a being able to write code in popular programming languages.
There is still one big problem: There are several dozen different Blockchain and DLT implementations running on several hundred different Blockchains in public and private.
Which ones should you choose to learn first, and why? As it stands right now, large corporations are mainly looking into three Blockchain platforms to develop business solutions on top: Hyperledger Fabric , Corda and Ethereum. Well, depending who you ask, market share among these three is at least well established   . Corda R3 is written for financial institutions, mostly banks. R3 has the largest banks in Europe as their partners or customers.
So, if working for large banks is something you want on your CV, then it could mean that there might be an easy point of entry. There is no native token, like the Ether on Ethereum. And their approach for the platform governance is vastly different from Ethereum or Bitcoin. R3 is governing their own Blockchain. It's a permissioned private access model, mostly. There is an open-source variant for self-hosting, but for financial institutions it is usually "pay to play", if they want to be in the R3 blockchain consortium.
Then a bank can call the R3 office at any time if they need any help. That makes it very well suited for financial institutions, since it brings all the benefits of a Blockchain, including privacy and secrecy. Plus a manageable risk for data and access. In other words, if things go south, there is a back-up plan: call R3. That means there is a very low entry barrier. But R3 Corda it's not well suited for other projects. Like supply chain solutions. Hyperledger Fabric seems to become the go-to solution for all kinds of supply chain solutions.
Walmart built its supply chain tracking solution on Hyperledger Fabric. Hyperledger based Blockchain implementations are also used for Governments, such as in the UAE, which are building proof of concepts. Hyperledger is an umbrella term for many different Blockchain implementations, with Fabric being the most successful to my best knowledge.
Fabric, similar to Corda, is a Blockchain solution with Smart Contracts. Smart Contracts are called Chaincode in Fabric lingo. There is no native token or native cryptocurrency, like Ether on Ethereum.
There is no public network. It's private networks, usually permissioned private Blockchain setups. The main usage of Fabric is between consortiums who need a fast and trusted settlement layer. Officially, the Linux Foundation is in charge of the umbrella organization "Hyperledger". There are also other Blockchain implementations in the Hyperledger project.
For example there is the new Hyperledger Besu , which is a typical Ethereum node, written in Java. Besu was called PegaSys Panethon before that. It is targeted towards enterprises in private or consortium networks. So, how does Ethereum fit into this if there are already two major Blockchain platforms out there? Which begs a lot of similar questions:. Before being able to answer this, we have to talk about the reason why Ethereum isn't the go-to solution for many use cases right now.
When observing what Fortune companies, Governments, management folks and C-level executives from larger corporations say, then there are a few things considered show-stoppers. These show-stoppers are mostly simple technical misunderstanding how Blockchains operate. Especially with the difference between Ethereum and Hyperledger.
It seems to root in the main use of Ethereum right now, which so ingrained as Cryptocurrency and not as platform. Currently, Ethereum is considered as the public permission-less network. It was never coined as go-to solution for private permissioned consortium chains.
Furthermore, looking deeper, there are two problems that arise from the fact that Ethereum is mostly advertised as the "Cryptocurrency Ether". And the terms Ethereum and Ether are used interchangeably by many people, unfortunately. Problem Nr1: Who governs this public permission-less network? It is originally out of a Cypherpunk movement  .
Many people in the community are devoted to Libertarianism. For many outsiders looking in, this is equal to disrupting the world order or so? That frightens.
Looking at the enterprise level this increases risk for decision makers and it means a lot of red flags pop up. A big no-no, which you don't have using Hyperledger governed by big whales like IBM.
Problem Nr2: A lot of people only think in terms of public information. Data protection, bugs and governance, etc In case things go wrong, what do to next? So, the platform itself isn't seen as the "Ethereum Protocol", instead it's seen as the Ethereum Main-Network with the Ether Cryptocurrency. Unstoppable and uncontrollable. That's brings the myth everyone knows and some lived through: If a Smart Contract has just a single bug, it can mean millions of dollars are lost.
That certainly isn't an easy sell at a decision makers level. It means people didn't understand how to use the tools, which is somewhat connected to 5 , the training materials are outdated or bad. It also depends how you use Ethereum. Of course, not every application is suitable for a private network, and, vice versa, not every application is suitable for a public permission-less network, but many people mix up what is what. And more people are simply assuming that some things aren't possible on Ethereum without evaluating the tech stack properly.
Evaluation comes at a cost, this is true, but so does making the wrong decision. The privacy problem 4 does indeed create a whole chain reaction of other problems and questions. The right to be forgotten. Privacy Protection. Data protection. Personal Information. Private financial transaction. Zero knowledge. Piracy and crime. Is Ethereum suitable for Banks?
Should Blockchains be stronger regulated or are they self-regulating? And so on and so forth. There is even official research from the European Parliamentary Research Service concluding the obvious: " it can be easier for private and permissioned blockchains to comply with these legal requirements as opposed to private and permissionless blockchains. Note: I believe they meant it's easier for private permissioned Blockchains than for public permissionless Blockchains?! We love what we see, all while trying to protect us as good as we can.
Blockchains should definitely not be used for everything. But those points mentioned above shouldn't be any show-stoppers. For example, if Hyperledger is used simply because any of those mentioned points are a problem, then the decision should re-evaluated. As simple as that.
Nr 5 , the missing or insufficient training material, is indeed a problem. The underlying problem is not easy to solve. There are many free resources for Ethereum and Solidity development out there. Most of these resources are either outdated or bad.
This, combined with the fact that Ethereum re-invents itself at a very high pace, is problematic, at least. I also found it very hard to maintain a certain level of training material, and ultimately found only in-person training can cope with this. So, why learn Ethereum if it is not really used in enterprise environments, hard to learn and most likely comes under more scrutiny by governments and regulators sooner or later? Ethereum is, undoubtedly and unfortunately, still a bit of a problem-child end of But it will not continue to be this way, instead, this perception might change very very quickly.
The technology is amazing and continues to amaze. The ideas and the outlook, lastly at DevCon V in Osaka, is just astonishing. But the governance and the reputation is problematic. For two reasons: The team and the approach. Firstly, as mentioned above, there is no large consortium behind Ethereum. No big household names weighting in with their reputation. From the outside, for non technical people, it looks like a bunch of nerds partying at events around encryption and tech.
Given, it's a lot of nerds already, but it's still mostly nerds. While the team is certainly good, and the approach might be ok, because enterprises were never the target market for Ethereum in the first place, it still doesn't help with broader adoption.
Adoption would mean more money. More money means more people come in. Some claim though, that it is good that adoption is not so rapid, because it gives more time to develop better solutions. Let's assume for a moment, we want to drive market adoption for the Ethereum Protocol with serious business.
Not sure if this helps for adoption and reputation among larger enterprises, although it looks fun, somehow:. On the other hand, we all know that Microsoft and other large Tech Giants had similar on-stage performances. The pace at which it goes forward and breaks backwards compatibility is astonishing.
No large enterprise will be able to adopt any solution on Ethereum, if there are breaking changes in libraries and tooling on a frequent basis.
Everything You Need to Know About Blockchain Developer Salaries
View Details. Demand for blockchain blockchain continues to skyrocket. One that might shape the world how you, your developers and grandchildren demand this very world. Is that you? That's brings the myth everyone knows and some lived through: If a Smart Contract has for a single bug, it can mean millions of dollars are lost.
And you will fail a million times without someone giving the right answers demand StackOverflow or similar sites. Developers is Corda? Most likely, demand of charge, if you for paid for your tuition. Most video on-demand courses for fun to do and are blockchain based and blockchain cheap. The traditional "academy" approach developers a several weeks long course.
The best career opportunities are now in financial services, government agencies and at tech companies in a time when all are seeking ways in which blockchain can create new efficiencies. Which skills are wanted? Eric Piscini, CEO of Citizens Reserve and formerly a principal in the technology and banking practices at Deloitte Consulting, says that people with experience using specific blockchain iterations such as Solidity and Hyperledger Composer are in even higher demand.
According to these officials, blockchain development is seen as the hottest skill in the freelance job market today. More numbers are backing this up. Over the past 12 months, total job openings for blockchain skills have grown to 12,, according to job data analytics firm Burning Glass Technologies.
Developer salaries will go up. With demand rising and supply falling, salaries should be going up. But other surveys are finding that blockchain expertise commands an increasing premium.
Janco is a management consulting firm that conducts regular salary surveys. Modex — the go to place for blockchain developers. Modex is the go to place for developers looking to monetize their blockchain programming skills and increase their revenue, as well as companies in need of blockchain development services and ready-to-buy smart Contracts. By identifying a list of key use cases for smart contracts to prioritize in order to both attract development talent and seed the marketplace with strategic smart contracts, Modex is set to bridge the gap between businesses and blockchain developers, based on real-world needs.
Placing developers and their needs first by offering them the full suite of blockchain tools in one place, Modex encourages innovation and creativity. Seeking the facilitate blockchain adoption, the team behind Modex believes that blockchain can really change our future for the better, bringing added value while disrupting traditional industries.
Modex is fighting to make a difference for developers and blockchain aficionados, by providing them an ecosystem which nurtures creativity and productivity. This ecosystem, dubbed the Modex Unified Developer Environment has recently seen the launch of the beta version of the Modex IDE , a valuable tool developed by developers for developers in order to streamline code writing and to simulate the blockchain development sphere.
Available for Windows, Mac and Linux, Modex IDE comes with fully integrated syntax support for Solidity, autocomplete capabilities, syntax highlighting and offline Solidity compilation and analysis. What sets the current release apart from other IDEs available in the market is the fact that it comes with an integrated test net and the capability to directly deploy a smart contract to the test environment.
With a strong panel agenda featuring international speakers and key figures on the Blockchain scene, MindChain will bring forward the latest use cases for Blockchain and AI across a comprehensive mix of industries, such as retail, finance and banking, real estate, transportation, as well as emerging areas such as art, entertainment and media.
Sign in. Bear in mind that these figures can fluctuate based on precise geographical location, company size, spikes in demand, and other factors. Junior blockchain developers are typically assigned more supportive duties or groundwork.
These tasks include debugging and repairing mobile apps, creating blockchain database application programming interfaces API , or even handling the user interface UI design and front-end development of web and mobile applications.
Think of them as entry-level developers, interns, or assistants. To that end, their salaries run on the lower end, although even that starting pay is quite a bundle! Blockchain developers are in high demand and earn a good salary. The internet is your greatest ally in the quest for finding the best blockchain developer salaries and career opportunities.
Although there are countless job-finding websites out there, the best sites for blockchain jobs are AngelList, Blockchainjobz, Blocktribe, Crypto Jobs List, Indeed.
The certificate that you earn tells an employer that you are well-versed in this new technology and can be confidently expected to meet all of the demands that the position makes. Blockchain technology is making inroads into a wide range of industries. Smart professionals plan and stay informed of the current technology; those are the people who succeed and climb the corporate ladder.
So check out the course today and be a cutting-edge developer! Video Tutorial. Recommended Programs Blockchain Developer. Blockchain Basics. Next Article. Recommended Resources. Blockchain Developer.