What is Blockchain Development?

Mar 03, 2021

Blockchain development is basically the development of blockchain technology which is being counted among the latest technologies available and this new technology can also be termed as the part of the cryptocurrency domain. This new technology is being developed accordingly to be used in different sectors and is a simple technology that works on the basis of distributed peer-to-peer ledger systems which helps in eliminating the need for centralized management systems or financial bodies such as banks. It works on a series or network of blocks containing information that are chained together forming a network completing all the transactions with real-time transaction history. This technology is being used for several purposes such as cryptocurrency mining and cryptocurrency development services at the same time.

As per market statistics, blockchain adoption in India is on the rise, and tailor-made blockchain services are only developed to be implemented in different sectors or industries. As suggested by the blockchain developers and industry experts, this technology is expected to revolutionize the traditional business processes and might even be adopted by many industries in the coming future as well. However, it is now clearly evident that blockchain technology is transforming various industries in several different ways, and the technology is only developed to automate the business processes, thus helping us manage business transactions and financial record keeping at the same time.

Roles of a Blockchain Developer

To become a successful blockchain developer it is very important to understand the fundamentals of this technology and to know how it works as well. In order to become a blockchain developer from scratch, you should be able to ensure that the digital transactions are secured and how it can be done by creating a unique blockchain-based system that can record and store blockchain information and even provide security from cyber threats as well. A blockchain developer should be able to develop blockchain-based applications with features and interfaces required to manage client and server-side applications. Some of the responsibilities of a blockchain developer include –

• Collaborating with the client-side managers in order to know more about the needs and envisioned functionalities.
• Create feature-rich applications and develop interfaces simply using the multithreaded codes and the programming languages.
• Manage and maintain client and server-side applications.
• Secure and optimize blockchain applications simply by integrating new techniques and tools.
• The developer should be able to document the entire Blockchain development processes by complying with the best industry practices.

In order to become an outstanding blockchain developer, you need to be an expert and be able to translate digital transactions securely and efficiently.

5 Must Have Skills to Become a Blockchain Developer

In order to become a certified blockchain developer, you need to possess professional knowledge helping you understand blockchain technology profoundly. Having a profound knowledge of the technology will help you develop and build blockchain-based applications for any type of business process and from scratch as well. Cryptocurrency and blockchain is the talk of the town and for having a lot of potential over the past decade it has been associated with every industry across the globe. This new form of technology has paved the way for an entirely new field of blockchain development and the blockchain developers should have certain skill sets to become pro having a strong mix of skills in certain areas such as data structures, algorithms, cryptography, and computer networking. But there are certain must-have skills that blockchain developers must possess to help them develop and optimize blockchain-based applications. A developer must have –

• A strong background in terms of software development and should be able to use all types the programming languages
• A work experience in terms of development of open-source projects
• A work experience of being able to work with large codebases
• A strong knowledge of the algorithms that are used and the data structures
• A familiarity in terms of working with peer-to-peer networks

A blockchain developer is the only person responsible for the development and optimization of the blockchain protocols required to craft a foundation for the blockchain-based systems.

Demands of Blockchain Developers in India

Blockchain is the latest technology in the industry and blockchain skills in demand have started pacing-up in the last few years. To be a successful blockchain developer in India it is necessary to have basic knowledge about the technology. According to market statistics it has been observed that blockchain developers are the highest paid and their salaries are 50% more compared to any other profession. With every passing day, the demand for blockchain developers is growing and the most needed blockchain skills a developer must have in their sleeves are Hyperledge, Solidity, Ripple, and Ethereum. The blockchain developers must be aware of the latest tools used in the industry today such as Remix, Solium, BaaS, and Truffle as well.

Salary of Blockchain Developers in India

Being the latest technology in the industry this technology also gives rise to many career opportunities in blockchain. Having the proper skill sets and being certified as a blockchain developer in India can easily help you earn or draw a hefty amount of salary of around Rs. 801,938 every month. By becoming more experienced in the domain, the blockchain developers can expect a hike in their annual salary as well. The best thing is that the blockchain developers’ salary in India will never decrease as the technology is being adopted by many companies at a rapid scale and it is expected that the technology might hold a business worth of around $3 trillion by the end of 2030.

Conclusion

Demand for software developers with blockchain skills in India will always be high as the technology is being adopted by many industries. To be a successful blockchain developer it is important to upgrade your blockchain knowledge and skills. This will even allow the recruiters to know more about you and finally decide if you are the right fit for the position. However, the blockchain skills are encouraged and developed by the employers which will help in creating a clan of talented blockchain developers in the coming years.