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Demand for Blockchain Engineers is getting super-high

Feb 19, 2018 Posted /  6484 Views

Demand for Blockchain Engineers is getting super-high

The dollar and talent ratio for Blockchain engineers is weighing more on one side. Unlike other professions, the capital reserved for Blockchain professionals is much higher than the actual number of people with knowledge. According to a recent report, the number of blockchain related jobs are the second fastest growing in the market. As per the statistics- there are 14 job openings for every single blockchain developer.

The "smart contracts" developer Nick Szabo also commented that there is an excessive “$/knowledge” ratio in the blockchain space, where money by far strands of talent. It is also evident from an on-demand tech talent marketplace- Toptal. The marketplace if officially launching its blockchain engineering talent vertical out of private beta. Interestingly, Toptal consists of about 50 percent of on-demand engineering labour by revenue.

In fact, global freelance marketplace Upwork disclosed that blockchain technology is amongst the fastest growing skill out of more than 5,000 skills in terms of freelancer billings. This amounts to 35000 percent increase in the demand. These offers traverse ICO advisory services, engineering projects and complete blockchain consultancy.

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As of January 2017, the demand for blockchain engineering talent on Toptal has grown some 700 percent, and 40 percent of the entirely administered software development projects required in the last months necessitate blockchain skills. Toptal data reveals that blockchain development languages and areas of expertise are increasingly in demand.

The primary one is- Hyperledger Fabric implementation, an open-source enterprise blockchain framework. The second is Ripple development, a payment protocol utilized for a distributed process for remittances, payments and exchanges. The third is smart contract development with a concentration around Solidity, a smart-contract programming language for Ethereum Virtual Machine.

Taso Du Val, Toptal's founder and CEO, thinks this sheds some predictions on blockchain development at-large.

“Different types of contracts are going to be disrupted first,” he said. “Disruption will be in places like asset management or deals being made that require complex contracting. Payments are so complex, and to work at scale, require the sign-off of not just central banks, but also governments. Payments won’t come first. Contracts don’t need such a sign-off since they are a lower barrier to entry. There are less regulatory hurdles, so we will see the contract space get disrupted first.”

The launch by Toptal and Upwork of blockchain engineering talent in its freelance talent marketplace could provide an extra edge to space. Notably, it could facilitate the blockchain ecosystem development entirely by cross-pollinating blockchain development projects as on-demand engineers take knowledge from one project to another. Furthermore, it could develop the blockchain talent pool overall with these platforms engineering skill development program, which aids their existing engineering pool and get up to snuff on the blockchain.

Toptal’s blockchain engineers are managing the projects like the Hashgraph, which discusses the scalability matters, and with huge public companies like SinglePoint on blockchain alliances. The diversity of clients utilizing this platform for their projects, and their entirely remote workforce which includes 100 countries, indicates the further development of blockchain engineers with genuine applied experience.

The founder of Ethereum, Vitalik Buterin, thinks “core developers and researchers should be employed by multiple companies or organizations…[and]…the knowledge of the technical considerations behind protocol upgrades must be democratized so that more people can feel comfortable participating in research discussions and criticizing protocol changes.”

Vitalik’s concept of the market is an actuality augmented by more projects, implementations and companies necessitating blockchain than there are engineers prepared to work on them.

Applancer is an open platform for discussion on all things like Blockchain , Cryptocurrency and Ico news updates. As such, the opinions expressed in this article are the author's own and do not necessarily reflect the view of Applancer .

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Tags: blockchain Blockchain Engineers blockchain technology Blockchain Future

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