Every year LinkedIn reports the top most popular skills for the year to come. In early 2020, its report showed that blockchain was the number one skill sought, with an August 2020 LinkedIn report showing that it was the most in-demand job of the year.
This trend continued as blockchain development expanded rapidly. Between August 2020 to 2021 the number of blockchain jobs has grown over 600%.
Blockchain technology is an incredible distributed ledger that automates backend work and eliminates a lot of overhead, waste, and fraud.
The main blockchains that use cryptocurrency are struggling to scale to the size required to handle many real-world cases and instead, many companies around the world are utilizing private chains to handle their needs.
Private blockchains are ideal for most companies in the current state. Using private chains can avoid transaction fees and slow transfers, but they do so at a loss of decentralization and immutability. Without immutability, there is not much of an advantage behind a private chain as prior transactions can be manipulated.
Companies add immutability by batching large amounts of transactions together and attaching them to one of the main chains like Ethereum. These batched transactions lower the cost alongside the number of transaction fees payable.
Many crypto enthusiasts believe when blockchains like Ethereum scale to the size of real-world adoption, companies will opt to have their networks built on the main chain for full decentralization and immutability.
There are many global organizations that have looked into using blockchain technology. Most major national banks in the US are currently looking for blockchain developers.
Such technology allows for faster finality and speed when dealing with funds. Some countries have their central banks hoping to implement their own chains to host Central Bank Digital Currencies.
These are often described as necessary to build their financial structures into something that is ready for the future. As more industries realize the power behind distributed ledger technology, there will continue to be a demand for blockchain jobs.
This technology requires new programming languages to be learned and a challenging architecture to understand.
Zip Recruiter shows that the average pay for a blockchain developer is over $150,000 per year. It is not likely we will see a drop in demand for these types of jobs coming up.