The Steady Uptick in Demand for Blockchain Engineers

Despite what may be waning interest in blockchain technology, demand for blockchain engineers remains high.

Despite the waning enthusiasm for blockchain technology that has been observed since 2022, it is clear that the technology has been remarkably resilient and is certain to remain a pertinent topic of discussion for the foreseeable future. This sentiment is echoed by the range of stakeholders, from start-ups to corporations and governments, who have been keeping a close eye on its development. This is evidenced by the sheer number of active blockchain firms listed on AngelList, which currently stands at over 3,000, and over 2,000 blockchain-related job openings.

Due to the relative novelty of blockchain technology, the current market for skilled blockchain professionals is relatively limited. Paysa estimates that there are approximately 14 unfilled positions for every blockchain engineer, making it essential for organisations to provide competitive salaries in order to attract and retain qualified candidates. The wages of blockchain developers are contingent upon a number of factors, including experience, the company they work for, and the level of expertise they possess. According to Paysa, the average salary for a blockchain engineer is $96,545 per year, with the top 10% earning up to $139,339. Furthermore, Hired.com found that the average annual compensation for blockchain engineers ranges from $158,668 in the San Francisco Bay Area to $141,835 in New York and £69,129 in London.

Works, a freelance marketplace for engineers and designers, announced a remarkable surge in customer demand for blockchain developers on its platform between January and February 2022 following the introduction of its blockchain on-demand talent network. Specifically, the company reported a 700% growth in demand for these services.

The increasing demand for blockchain engineers is indicative of an increasing recognition that blockchain technology is either currently playing a major part or will soon play an important role in the future of information and asset management and security. As the importance of achieving successful results for businesses operating in the blockchain sector continues to grow, the already high demand for skilled engineers in this area is anticipated to keep rising.

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