Blockchain engineers are technical professional who have the knowledge, skills, and experience to create and manage distributed ledger-based applications.
The demand for blockchain engineers in the age of the metaverse is on the rise. This article will explain the role of a blockchain engineer, their salary, and what skills are required.
What do Blockchain Engineers do? Roles and Responsibilities
The job of a blockchain engineer is to develop and implement digital blockchain solutions that can be used to solve problems for organizations. They might also need to analyze and research the needs of organizations and use open-source technologies.
They may also be needed to create and implement accelerators and infrastructure setup processes. They make sure that applications within the blockchain network are safe. Blockchain engineers are skilled in existing platforms like Hyperledger and Ethereum.
Blockchain market value is expected to increase exponentially to 39.7 Billion by 2025. Blockchain engineers are employed by major companies like Walmart, IBM, and Coinbase. Blockchain technology is used by blockchain engineers to develop computer networking, data structures, and cryptography as well as algorithms.
What are the Responsibilities of Blockchain Engineers?
The blockchain network and applications it hosts are managed by blockchain engineers. They also help to design blockchain networks, analyze existing systems, and evaluate new technologies.
While the specific roles and responsibilities of a blockchain engineer can change depending on the organization's circumstances, the general guidelines are the same:
- Research, evaluation, and creation of blockchain networks and decentralized apps.
- Troubleshooting and testing blockchain-driven projects.
- Maintaining cybersecurity best practices across the entire blockchain technology by applying cryptographic methods like digital signatures and hash functions. Next, ensure compliance with security measures.
- Researching, assessing, and integrating new technologies and tools into the blockchain network and its applications.
- Develop, test, and manage a blockchain network, with an emphasis on efficiency, distributed computing, and consensus protocols.
- Develop, test, and monitor client-side applications, as well as decentralized applications.
- When necessary, perform back-end and front-end application maintenance.
- Blockchain technology can be used to develop an application or system for your organization.
- Recording development processes, artifacts, and blockchain applications.
- To ensure an organization achieves its goals, it is important to use soft skills like teamwork, collaboration, and problem-solving.
Blockchain Engineer Key Skills Requirement
To succeed in this role, you will need to have both hard and soft skills. These are the soft skills blockchain engineers need to have:
- To communicate the requirements of the blockchain project, they must be able to communicate effectively both verbally and in writing.
- To be able to work effectively with other team members, they should be cooperative team workers
- To solve problems effectively, they must demonstrate strategic and critical thinking skills.
- To be able to solve problems, they should have problem-solving and creative skills.
- They must be able to adapt to change and use new strategies.
Let's now look at the ten essential technical skills that all blockchain engineers should possess:
1. Understanding Blockchain Architecture
The blockchain architecture and operation should be well understood by all blockchain engineers. They should be familiar with concepts such as consensus, cryptographic hash functions, distributed ledger technology, and other related topics.
2. Expertise in Coding Languages
The major programming languages that are used in blockchain technology, such as Python, JavaScript, and Clojure, should be mastered by blockchain engineers. They should also know about information technology.
3. Understanding Data Structures
In-depth knowledge of data structures in blockchain technology is essential for all Blockchain engineers, including Merkel trees and Patricia trees. When building and implementing networks, blockchain engineers often interact with data structures. Understanding data structures allow them to grasp the basics of blockchain.
4. Use Cryptography With Experience
Cryptography should be well-known to blockchain engineers. The ability to use cryptography to encrypt data and ensure security in a blockchain network is essential. Cryptography is similar to cloud encryption technology. It ensures that both public and private keys are safe when transacting. A unique blockchain can be created by blockchain engineers using different subcategories in cryptography.
5. Ability to Work With and Identify Blockchain Platforms
To be able to develop practical and effective solutions, blockchain engineers must fully understand the different types of blockchain platforms.
6. Familiarity and Familiarity With the Most Prominent Blockchain Ecosystems
It is important for blockchain engineers to have a deep understanding of the various ecosystems and standards used in blockchain technology. These ecosystems can be used to build a blockchain system that streamlines business processes and influences business outcomes. Blockchain technology has many ecosystems, including Hyperledger and Corda.
7. Inquire About Learning More About Blockchain Development Tools
The most important thing for blockchain engineers is to have a deep understanding of the various tools used in developing blockchain technology. To create faster solutions, they use tools like MetaMask and Remix.
8. Skills in Smart Contract Development
Smart contracts are a key concept for blockchain engineers. These concepts cover the creation of a smart contract, its significance, and commercial applications such as Non-Fungible Tokens, which are digital assets that can be traded. Smart contracts became one of the most popular applications of blockchain technology with the introduction of Ethereum 2.0 in 2021. This was due to blockchain's desire to integrate smart contracts capabilities into its system. Also, blockchain engineers need to be familiar with network-specific languages like Solidity, Viper, and Chaincode.
9. Competencies in Web Design
Expertise in Web Development is required for blockchain engineers. To be able to create decentralized applications, they should have a good understanding of the basics of web programming (back-end and front-end).
10. Object-Oriented Programming Capabilities
OOP (object-oriented programming) is a fundamental part of all programming languages. This language allows them to reuse code and solve complex problems. They also gain flexibility through polymorphism and can use modularity to aid in troubleshooting.
Salary for Blockchain Engineers in 2022
Blockchain engineers continue to receive higher salaries. According to Payscale data, the average annual salary of blockchain engineers is $107,000 (last updated 15.10.22). Software development includes blockchain engineering.
Blockchain engineers are paid higher than other software engineers because they do more than just create software. A survey by the US Bureau of Labor Statistics found that the market for software systems engineers is likely to see an 11% increase in employment from 2016 to 2026.
Their salary is determined by where they live. In India, for example, the average salary is Rs 614,000. The US pays $107,000, the UK pays PS92,187, Singapore gets SGD5,000, Germany EUR50,555, and China CN385,000.
In major cities, blockchain engineers also receive higher salaries than their peers. The highest average annual salary for blockchain engineers in major cities is $176,996, $170 2,296, and PS146 800, respectively.
A blockchain engineer's salary can also be affected by his or her career. A junior blockchain developer can earn an average annual salary of $120,000, while a senior developer can earn $121,875.
Takeaway
There is a high demand for blockchain engineers in the age of the metaverse. PwC's 2022 US survey found that 66% (or 66%) of business leaders are actively using the metaverse and 82% anticipate it being part of their plans in the next three years. This means that most businesses across all sectors will require blockchain capabilities. Professionals in blockchain engineering are required.