Things have changed in the world of Finance ever since the advent of Bitcoin, the first cryptocurrency in the world. Blockchain technology is largely responsible for cryptocurrencies' success, and since then, demand has increased. The blockchain sector is expanding quickly, providing new opportunities for people to pursue careers in the field.
There are plenty of career opportunities in blockchain technology. If you are keen and wondering about how to start a career in blockchain then consider signing up for the Blockchain course by KnowledgeHut and pave the way towards having a prosperous blockchain career.
Blockchain technology is transforming several traditional industries in the modern world, including banking, finance, healthcare, hospitality, retail, and many others. This manual will take you through careers in blockchain technology that will help you advance in this popular field.
What is Blockchain?
Blockchain is a system of a shared and immutable ledger that is maintained in a business for facilitating and tracking the movements of assets in an organizational network. It is also concerned with the recording of transactions of all the assets and the day-to-day usage of those assets. However, the assets can be both tangible and intangible and blockchain technology takes all of them into concentration.
Blockchain is ideal for faster delivery of information as it is immediately shared with the help of an immutable ledger in the business network. It also maintains the transparency of the information and the ledger can only be accessed by those individuals who have the permission.
Why Should You Pursue a Career in Blockchain?
There are exponential career opportunities in blockchain technology and it is one of the fastest-growing industries in today's world. Blockchain has the potential to reach the way we perceive businesses. Opting for a career in blockchain today can pave a way to succeed in teh near future, considering the field’s skyrocketing growth and popularity.
According to the US national salary average as of 2021, blockchain developers were paid USD 1,85,117 whereas software developers were paid USD 77,000. Blockchain technology is a relatively new concept and forecasts state that there will be a comparable increase in the pay of blockchain professionals in the coming decade. The shortage of talent in the blockchain development field will continue to drive salaries higher than in other tech specialties.
What Educational Qualifications Are Necessary for Pursuing a Career in Blockchain?
There is no particular degree or qualification that one requires to become a blockchain professional. Blockchain as a career is in great demand and individuals interested to pursue a career in the same may have the following qualifications to get a preference:
- Bachelor's degree in computer science, engineering, information technology, or any other related field.
- Decent knowledge of technical skills such as programming languages and coding.
- Some work experience in finance and economics may also help.
- A certification from a renowned University in blockchain technology can give an upper hand. You may consider signing up for the Blockchain Professional Certification by KnowledgeHut to be ahead of your contemporaries.
Popular Career Opportunities in Blockchain?
One of the most sought-after careers in the tech industry is becoming a blockchain professional. Major blockchain technology career opportunities are of the following types:
Blockchain Developer
Blockchain developer is in a high-ranking position in the industry. They are the programming professionals who develop and create applications powered by blockchain technology. The roles and responsibilities of a blockchain developer include designing applications and creating infrastructure, establishing security protocols, etc.
Blockchain developers require a minimum qualification of a bachelor's degree in the field of Computer Science and some years of work experience with extensive knowledge of programming languages. Blockchain developers are highly paid with an average salary of USD 91,422 per year.
Blockchain Solution Architect
Blockchain solution architects help in integrating multiple parts and components of a blockchain ecosystem. The roles and responsibilities of a blockchain solution architect include designing blockchain software and building frameworks that support blockchain technology. It also assigns and connects blockchain solution components with other teams and individuals.
Blockchain solution architects must possess a bachelor's degree in the field of programming languages and must be equipped with the knowledge of writing codes. It is a popular career option that offers an average salary of USD 114,803 per annum.
Blockchain Project Manager
A project manager acts as an important link between an organization and blockchain professionals. They connect to and bring out the best in a blockchain project. The Blockchain managers are responsible for explaining the organization's objectives within other departments and also coordinating the efforts of the employees in achieving the project objectives.
A blockchain project manager builds a better understanding between the stakeholders and the technical team of the company by simplifying the technical requirements of the team and conveying them to the management. To become a successful blockchain project manager one must have a deep understanding of blockchain terminologies and also possess skills in project management. The average annual salary of a blockchain project manager is USD 78,861.
Blockchain UX designer
Blockchain UX designer creates a trustworthy and user-friendly interface for regular users. the interface must be innovative and contain all the essentials. The responsibility of a UX designer is to provide a working interface that is free of glitches and provides seamless service.
To become a blockchain UX designer one must possess a deep understanding of blockchain technology and should be skilled in coding and designing interfaces. Blockchain UX designers are highly paid with an average salary of USD 95,550 per annum.
Blockchain Quality Engineer
Blockchain quality engineer tests and checks the quality of the blockchain projects. He is in charge of the quality assurance of the projects involving blockchain technology. The roles and responsibilities of a blockchain quality engineer include looking after the operations of a blockchain environment. They are also responsible for running regular tests to check if there exist any bugs or glitches in the newly developed projects or not.
A blockchain engineer prepares a report about the project and informs other departments regarding any bugs. The bugs are removed and the end product proves to be effective in every aspect. A blockchain quality engineer must possess good analytical and observation skills. He should also have a deep understanding of the blockchain realm. Quality engineers are well paid with an average annual salary of USD 147,780.
Blockchain Legal Consultant
Blockchain legal consultant is a career in blockchain without coding that helps businesses and firms to understand the legal aspect of blockchain. They act as advisors to companies when projects about new launches and cryptocurrencies are involved. Legal consultants also look after the regulatory guidelines of the concerned projects and draft contracts related to the projects.
The qualification for becoming a blockchain legal consultant includes a bachelor's degree in the field of law with decent knowledge of blockchain concepts and their implications. They must possess a deep understanding of crypto and the finance industry. This job fetches good income for the blockchain professional with an average salary of USD 72,529 per year.
Skills Required for Careers in Blockchain
To have a prosperous career in blockchain one must possess some important skills. The essential skills for future careers in blockchain are enumerated as follows:
Exceptional knowledge of blockchain architecture
You must possess a deep understanding of blockchain concepts and their use cases in multiple areas. Different applications will require different models of blockchains to function and one must be equipped with the knowledge of the blockchain technology and use it properly according to the requirements. Blocks in professionals must be aware of the blocks in architecture that are of four different types namely, private public hybrid, and consortium.
Expertise in a high-level programming language
According to the type of blockchain environment, blocks in professionals use programming languages that are best suited for a particular project. Therefore, proficiency in at least one of the high-level programming languages, such as Python, C++, Java, and so on, is a prerequisite for blockchain specialists. Since learning every programming language would be impossible, blockchain experts need to be familiar with object-oriented programming, which covers the ideas of OOP libraries and frameworks.
Strong understanding of cryptography
An effective hold on cryptography is one of the key requirements for blockchain professionals. Cryptography includes various essential concepts and practices such as digital wallets, digital signatures, and keys. Cryptography is very important for providing a safe and secure blockchain environment. Professionals in blockchain used different private and public keys to protect the blockchain environment and prevent unauthorized access to the systems. Hence, the knowledge of cryptography is a must.
Extensive knowledge of web development
Web development and blocks in technology are interrelated, especially in the matter of decentralized applications. Blockchain professionals must know how to deal with the applications of web development and should be experienced in this field. it includes the knowledge of designing and developing web applications and also getting a hold of those technologies that support the particular web applications. It is a plus point when blockchain professionals have expertise in optimizing and securing those web applications.
Proficiency in smart contracts
Smart contracts can be defined as contracts that are self-executing in nature that allow two separate parties to carry on transactions and exchange of services or goods directly among themselves, without involving any third parties. These contracts are now an important part of the business environment where blockchain professionals are required to have a solid understanding of the concept. They must know the implementation of smart contracts in the business logic where blockchain technology is involved. Some of the most commonly used programming languages for smart contracts are Solidity, Chaincode, and Vyper and blockchain professionals are expected to have a good grasp of these programming languages.
Working knowledge of algorithms and data structures
Multiple data structures when come together make up the entire blockchain technology. Transactions are carried on the public ledger and every block can be considered as a distinct type of data structure. Blockchain professionals are required to closely work with data structures along with understanding how to use the blockchain networks. These professionals should also be conversant with all types of data structures, including heaps, hash trees, graphs, heaps, Merkle trees, Patricia trees, etc.
How to Boost Your Blockchain Career Opportunities?
Blockchain is one of the leading technologies in today's world, many people want to get into this field. Here are some tips to increase your chances in applied blockchain careers:
- Become exceptionally skilled in computer programming.
- Build strong mathematical skills.
- Have some knowledge and experience in the field of finance.
- Constantly be in touch with computer science and coding.
- Enroll for good certification courses in this discipline.
Conclusion
Blockchain technology is a new concept that is still evolving. It has become a significant part of the industry today. Future careers in blockchain may also evolve as this is here to stay in the industry for a longer time. The demand for blockchain professionals will continue to grow so if you are a tech enthusiast and from a tech background, do not miss out on the opportunity to become a successful blockchain professional.
Explore the exciting career opportunities that blockchain has to offer and sign up for the KnowledgeHut Blockchain course which will help you gain all the insights and clear your concepts regarding the subject. Try to keep up with the recent trends in blockchain technology to have a successful career.
