Are Blockchain developers in demand in India?
The Blockchain Era has arrived, and it is now. Enterprises across various sectors of the industry are warming up to the concept of the decentralised ledger. There’s a global wave of Blockchain adoption among companies and businesses to address fundamental business problems. The adoption of Blockchain technology is occurring at such a rapid scale that Gartner predicts the business value of Blockchain tech will exceed $3 trillion by 2030.
According to a 2018 PwC survey conducted on 600 executives hailing from 15 different regions, nearly 84% of the respondents claimed to be leveraging Blockchain in some way or another. India is also catching up with the rising trend in Blockchain Adoption. With both the government and private companies showing increasing interest in Blockchain, the job market in this domain is booming at present.
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The growing demand for Blockchain Developers in India
Being an emerging technology that has just started gaining traction in the past few years, Blockchain talent is challenging to find. Today, Blockchain is one of the fastest-growing skill sets with jobs in this domain growing at a mindblowing rate of 2,000-6,000% and the salaries of Blockchain Developers being 50-100% higher than conventional developer jobs. While the employment opportunities in Blockchain are many, there’s a limited talent pool in this domain. The demand for Blockchain techies, particularly Blockchain Developers in India is not only being created by the BFSI sector, but also by healthcare, education, supply chain management, cloud computing, stock trading, real estate, and even government agencies.
The most in-demand Blockchain skills right now are Hyperledger, Solidity, Ripple, and Ethereum. However, since this space is relatively new, companies often settle for professionals with a specific skill set. For instance, Blockchain Developers must have a basic knowledge of mathematics and algorithms. They must be well-versed in C, C++, Java, and Python since a majority of Blockchain projects are written in these languages.
Also, Blockchain Developers must be aware of at least a few tools required for Blockchain development such as Geth, Remix, Mist, Solium, Parity, BaaS, and Truffle, to name a few. Also, they should have some experience of working on open-source projects. Usually, most companies hire Blockchain Developers having at least a bachelor’s degree in Mathematics or Computer Science.
On the whole, a Blockchain Developer must have a solid technical background and be ever-curious in learning about new technologies.
The salary of Blockchain Developers in India
Owing to the shortage of talent and skills in this domain, employers are always willing to pay high remuneration to Blockchain professionals if they are worthy. The salary of a Blockchain techie is way higher than an average IT professional. If you have the right Blockchain skills, you can make double, even three times the salary of what a Software Engineer makes in a year.
As more Indian companies and organisations are joining the Blockchain bandwagon, the average annual salary of a Blockchain Developer in India has a broad spectrum. Usually, the salary of a Blockchain Developer in India ranges anywhere between Rs. 5,00,000-30,00,000 LPA. As is visible, the higher your experience and the more profound your skillset, the higher will be your yearly compensation. Also, the salary package depends on whether or not a candidate has advanced certifications and the job position as well (entry-level, mid-level, senior-level).
Furthermore, the salary packages of Blockchain jobs are highly dynamic. For instance, if a professional has around three years of Blockchain experience, the annual remuneration can be as high as Rs 45,00,000 or even more. This happens to be more than double of what a professional with five years of work experience (however, with no experience in Blockchain tech) would get.
Conclusion
However, since Blockchain skills are mainly being developed and encouraged in-house by employers, hopefully, there’ll be more talented Blockchain professionals shortly.
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