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Blockchains are notoriously difficult to comprehend, much less develop. Understanding concepts behind blockchain technology is just the tip of the iceberg — which explains why blockchain developers can easily draw upwards of six-figure annual salaries (full numbers further down below).
As with most fields in software programming, becoming a competent blockchain developer requires significant time investment. This is partly because blockchain is a budding field that requires constant innovation in order to stay ahead of a saturated competition pool, all while dealing with concepts that have few comparable references within modern industry.
Demand for blockchain engineers ballooned by 552% in 2022 alone, with banks and established enterprises across the globe vying for top talent who can help them secure licences and design groundbreaking innovations. Meanwhile, entire jurisdictions such as China are investing heavily in blockchain development training, announcing pipelines to train up 500,000 industry professionals in 2023. If you’re someone who enjoys being on the cusp of new developments, then strap in as we discuss the job scopes,
It’s clear that blockchain is here to stay, along with an entire slew of thrilling new job opportunities. If you’re someone who enjoys being on the cusp of new developments, strap in as we discuss all things blockchain development, from job scopes and prospects to how freelancers can carve their own careers.
Generally speaking, blockchain developers are responsible for creating and optimising blockchains and their protocols. This covers everything from smart contracts to entire decentralised applications (dApps).
Core blockchain developers are responsible for maintaining the blockchain itself, ensuring network security, and integrations with other blockchains and protocols. Decentralised blockchain oracle network Chainlink is one such example of blockchain integration. Blockchain oracles are entities that securely bring off-chain data on-chain, enabling different blockchains to interact with each other and even with real world data. Because off-chain data needs to be syphoned on-chain through often poorly guarded internet connections, blockchain oracles play a vital role in securing this transmission process. For example, a smart contract that relies on stock prices is designed to not execute until it is fed with data from a blockchain oracle.
Instead of blockchain pathways, the work of blockchain software developers lean towards smart contracts and dApps. dApps are complicated programmes that bundle smart contracts to provide services. Unlike other software applications, dApps operate autonomously, using consensus from a decentralised peer network. A prominent example is MakerDAO, a decentralised autonomous organisation (DAO) whose core offering is the algorithmic stablecoin DAI.
Stablecoins are typically pegged to a certain value, most commonly the U.S. dollar. Traders can receive crypto-collateralized stablecoins such as DAI by paying crypto tokens such as ETH or SOL. In comparison, fiat-collateralized stablecoins are simply paid for using fiat currencies.
Having access to both of these options is what gives users flexibility to trade stable assets, which is particularly important when you’re dealing with the crypto market where prices can fluctuate wildly overnight. MakerDAO provides relevant DAI financial services such as borrowing and staking through aforementioned dApp, and it is blockchain software developers who ensure that the app remains secure, functional, and efficient.
If you’re a good programmer, you’re probably familiar with the process of picking up a new programming language. However, if you’re new to blockchain development, it’s important to recognise that blockchain programming languages are different from smart contract programming languages. Programming a blockchain involves developing consensus mechanisms and underlying protocols, while smart contract programming refers to developing dApps.
Different languages are used to write smart contracts on each blockchain too. For example:
Finding and learning programming languages used by popular blockchains will place you in good stead with companies or DAOs looking for talent to create their own dApps.
Be warned, however, as programming prowess alone will not necessarily grant you the most prestigious blockchain developer jobs. The most highly sought after developers are also highly meticulous, as there is little to no margin for error when dealing with smart contracts that are immutable once deployed.
Any flaws within smart contracts will be susceptible to exploitation, which spells disaster when dealing with multi-million dollar projects. Make no mistake, crypto hacker operations are multi-million protocols themselves, so being a blockchain developer is a job where one carries heavy burdens on their shoulders.
The median annualised salaries for blockchain developers of all experience levels are as follows:
Needless to say, actual salaries are widely variable depending on various factors, with the most prominent ones being experience levels and the nature of your work. If you’re not ready to commit to a full-time blockchain developer role, there are numerous freelancing platforms for freelance developers to connect with potential clients. Budding developers can enter the industry by working with smaller-scale projects or firms.
Furthermore, working in this manner allows freelancers some autonomy in selecting projects aligned with their preferences and the flexibility to work remotely. On average, freelance blockchain developers charge anywhere from $30-59 per hour for their work, which is a large range that includes some sizable figures at the upper end.
Freelance blockchain developers who have built up a sufficiently impressive portfolio may even have the power to set their own rates. Assuming a comfortable work week of six hours daily, five days a week, freelance developers would easily hit ~$6000 a month or ~$71,000 a year at a rate of $45 an hour. If you’re willing to push yourself even further, the potential compensation could be exponentially higher, with some freelancers charging as much as $90 per hour simply because they have many clients vying for limited calendar spots.
It’s definitely helpful to possess the requisite credentials and academic background. Degrees in computer science, software development, information security, and other related fields can legitimise your identity in a field where fraud is rampant, expediting the rate at which you encounter job opportunities.
However, beginning blockchain development without credentials isn’t mission impossible, either. You can simply start by participating in communities of an crypto subfield you like, including:
From there, finding and studying open-source DAOs will help you learn the ropes of blockchain development, codes of which are often readily available on open-source networks like Ethereum. There are also niche platforms such as Uniswap for decentralised exchange (DEX) architecture if you’re looking to go deep into one particular topic.
The importance of community engagement in the crypto realm cannot be stressed enough, especially since this is where you’ll likely get most of your opportunities from. By genuinely contributing your thoughts and sharing your projects on Twitter, Telegram channels, and Discord groups, you’ll be able to quickly bounce ideas off one another and unlock opportunities you wouldn’t find elsewhere.
Crypto is still a burgeoning industry where new projects are materialising everyday — many of which have admittedly dubious credibility. That said, genuine solutions are quickly coming to the forefront, such as the recent Layer 2s secondary blockchains built on older Layer 1s to boost their scalability and speed. This represents a major breakthrough in the blockchain trilemma of decentralisation, security, and scalability, of which many blockchains up until this point have had to forgo one in favour of the other two. For example, prioritising decentralisation often required consensus from more users, which took exponentially more time and therefore hampered scalability.
Moreover, financial institutions worldwide are currently embracing blockchain technology for secure and efficient financial transactions and investment products. These multi-billion dollar revenue financial firms can offer higher compensation commensurate with more advanced work. Governments are also exploring the potential uses of blockchain technology, which could open up high-paying government positions in the near future.
But even if you eventually decide that blockchain development isn’t for you, skills that you pick up in pursuit of this industry will not go to waste. Working on blockchain development projects will arm you with the same programming foundation required in conventional software development and engineering jobs. For example, cybersecurity is a common adjacent route, requiring the same cryptography and security principles required in blockchain. Alternatively, your experience in blockchain development can also move you up towards non-technical roles such as blockchain consultancy.
Competition within the crypto world will only grow stronger as it gains more legitimacy worldwide. If you’d like a leg up into exclusive communities, be a part of the Freelancer Nation community to connect with local DeFi communities in your area, or stay updated on the latest freelancing activites and opportunities by subscribing to our monthly newsletter.
