Main image of article Do Blockchain Developer Salaries Match the Hype?

Cryptocurrencies like Bitcoin are based on the blockchain, a decentralized ledger technology that allows users to create a permanent record of transactions. Millions of people have purchased crypto over the past several years, hoping it will make them rich. For software engineers and other tech professionals, can mastering the blockchain also translate into significant rewards?

According to a new analysis by VentureBeat of PayScale data, the answer to that question is a definite “yes.” It pegs the average annual blockchain engineer salary at $90,000 per year, comparable to a software engineer ($90,777 per year) and within the same ballpark as cybersecurity engineer ($99,887) and product manager ($102,866).

Among the highest-paying tech jobs, VentureBeat also cites cloud solutions architect, which comes with a $132,700 annual salary. Spending on the public cloud will hit almost $600 billion in 2023, and organizations everywhere will need tech specialists who can build out large and small cloud systems.

Becoming a blockchain engineer requires quite a bit of learning. Many blockchain engineers end up in other tech-related jobs, such as software engineer or developer, before specializing in blockchain tech. Mastering the intricacies of the various blockchain tools and services can take quite a bit of time, even if you participate in a high-intensity bootcamp or other formal learning course.

“Blockchain engineers… need knowledge of smart contracts and smart contract programming languages such as Solidity, for Ethereum-based projects, Scrypto, for Radix-based projects and Rust for Solana-based projects,” Piers Ridyard, CEO of RDX Works, recently told Dice. Knowing blockchain platforms such as Ethereum, Radix, or Solana is crucial, as is mastering the principles of programming.

As you hunt for blockchain opportunities, participating in the growing community of blockchain experts can help you find everything from advice to jobs. “Join online communities and forums dedicated to blockchain technology to connect with other developers, ask questions, and share knowledge,” advised Thanh Nguyen, co-founder of Verichains. “Contribute to open source blockchain projects to gain hands-on experience and build a portfolio of work, and stay updated with the latest trends in the field by attending conferences, reading industry publications, and taking online courses.”

Whatever direction you choose, always remember that blockchain is much more than cryptocurrency—the next several years could see the mainstreaming of all kinds of applications, from smart contracting to personal identity security.