A decade ago, the use of Blockchain technology in software solutions was a niche trend. By 2022, the situation has completely changed and now Blockchain is the instrument that allows businesses to gain a competitive edge in the market. With Blockchain the tech operations and workflows become faster and more protected. Meanwhile, cryptocurrencies based on the technology keep disrupting the world of finance.
While Blockchain is one of the hottest trends in software development, the number of developers remains rather small. Businesses that would like to empower their digital solutions with the technology struggle to find experienced software specialists. In this article, we’ll explain how to find outstanding Blockchain developers and what businesses should do to hire them for their software development projects.
Why Is Blockchain on the Rise?
Today, many big and small companies decide to leverage Blockchain technology in their digital solutions. Among the major Blockchain users are IBM, Oracle, Microsoft, Walmart, Daimler, PayPal, Alibaba, Amazon, and many others. The reasons are clear – the technology enhances application security and data transparency while facilitating and automating most of the software operations.
Another reason to opt for Blockchain is launching a cryptocurrency startup. Currently, crypto-businesses are growing exponentially. Venture capitalists just plow billions of dollars into crypto startups. Investors are seeking ways to run their own crypto exchange platforms or develop their own crypto wallets.
Meanwhile, the Blockchain trend doesn’t seem to diminish any time soon. And here are the key stats why:
- there are over 20,400 cryptos today;
- in July 2022 the number of people owning Bitcoin reached 83.4 million users;
- 19 world billionaires have gained their wealth through cryptocurrency;
- the Blockchain market size reached $4.9 bln in 2021 and is expected to hit the point of $67.4 bln by 2026, growing at a CAGR of 68.4% during the forecast period;
- The OneOf NFT platform managed to raise $8.4 million, Snow Hill Partners, American Express, and Sangha capital are among the investors.
Where to Hire a Blockchain Developer
While the demand for Blockchain technology keeps growing, the number of professional developers remains rather low. First, because of the complexity of the technology. For the developers to start working with the technology, a decent knowledge of at least one programming language such as Java, Python, C++, Solidity, is required.
Those businesses that have an urgent need for Blockchain developers virtually have two options to hire them:
- search for the specialists in communities and on professional websites like cryptojoblist.com, beincrypto.com, LinkedIn, Reddit, Blockchain Expo Global, and others;
- hire software developers from a software outsourcing provider – software outsourcing companies have a wide range of software development specialists with much experience in Blockchain working on various international projects. When hiring Blockchain developers from outsourcing companies, businesses can get overwhelmed by a great variety of options. However, all of them can have different levels of expertise and development experience.
How to Hire Blockchain Developers
When companies hire software specialists for their projects, the first thing they have to do is to realize what type of cooperation or engagement model to choose. Engagement models define the cooperation terms and conditions between the customer company and the outsourcing vendor.
If a business has a complex project that requires long-term engagement with an outsourcing provider, it can opt for a dedicated team model or a staff augmentation model.
A dedicated team is a fully-fledged team of specialists focused only on one software development project. The team gets deeply engaged in the development process and achieves a deep understanding of the project requirements, business goals, and product outcomes. The customer company usually obtains full control over the team management and is responsible for the project outcomes.
A staff augmentation model involves hiring one or several software development experts who can enhance the existing project in the company. For example, when a business already has an in-house development team but wants to hire Blockchain developers to add the technology to the existing solution or simply scale the team.
When a company wants to develop a product for its industry niche, but has no resources to realize it, it’s better to opt for a traditional IT outsourcing model. A traditional software outsourcing model involves a team of experts that are managed by the outsourcing provider. According to this model, the customer has to outline project requirements to the provider and get a ready-made product at the end with minimal engagement in the development process.
What Skills to Look For in a Blockchain Engineer
Blockchain is a complex software development technology that requires certain developer’s knowledge and skills in order to create and deliver high-quality products. Here is the list of skills a great Blockchain developer should possess:
- solid knowledge of data structures – as Blockchain is a digital ledger that stores data in blocks, it’s essential for developers to know how data structures work, including lists linking, hash tables, acyclic graphs, and more;
- good understanding of encryption and security – one of the strongest points of Blockchain is the increased system security; therefore, the programmers should have a solid understanding of Secure Hash Algorithms, encryption, and decryption techniques, public and private key concepts, and much more;
- broad knowledge of Blockchain concepts – a potential candidate should be able to explain what is a DLT (distributed Ledger Technology, immutability, proof of stake, proof of work, Smart Contracts, DApps, and more.
Blockchain development is rapidly growing in popularity. More and more companies strive to build their digital solutions empowered with blockchain technology. However, finding outstanding blockchain development specialists is a real challenge.
To find a team of Blockchain development experts, companies should know where to search for them, what type of engagement they need on their projects, and be aware of the set of Blockchain developer competencies to ensure the great quality of their product. If you would like to hire experienced Blockchain developers, you can get in touch with us and we will get back with the right candidates and their shortest availability.