It’s important to consider if a career in crypto-related technologies, especially those utilizing the blockchain, can still be successful in light of the recent crypto crisis and its impact on tech businesses like Coinbase.
It’s challenging to provide a response to that question since no one appears to be entirely sure how cryptocurrency and its linked sectors, such as the blockchain and “web 3,” will develop. Some programmers are staking their professional futures on the idea that the internet will develop into a decentralized structure reliant on cryptocurrencies, token ownership, and the blockchain. Others, however, disregard many of these ideas as mere fads or outright frauds.
Take a step back and run some numbers through Lightcast (previously Emsi Burning Glass), which gathers and examines information from millions of job advertisements around the nation. Lightcast reports that 38,251 job posts in the last year specifically requested blockchain talents, and the platform anticipates a 24.6 percent increase in demand for those skills over the next two years.
Even while there aren’t quite as many employers involved in that field as, for example, software engineering or network administration, it’s still extremely active. A median income of $99,000 is paid for talents linked to the blockchain, but with the correct mix of experience and specialization, this figure may soon reach six figures. That’s also rather excellent, especially when compared to other tech positions; the average technologist earns $104,566 a year, according to the most recent Dice Tech Salary Report (a 6.9 percent increase between 2020 and 2021).
Blockchain isn’t the same as cryptocurrency, of course; many technologists are working to develop platforms based on the technology for tracking shipments or developing smart contracts; they aren’t particularly interested in creating a new cryptocurrency or figuring out how to improve crypto wallets. Tracking blockchain-related job and wage data is a useful tool to monitor the general health of the segment since, regardless of the goals of the engineers working with these technologies, the concepts underlying the blockchain will probably stay vital.
We’ll watch to see whether salaries and job advertisements for blockchain start to decrease in the future. If that occurs, it is quite unlikely that the industry—and the technology supporting it—will ever achieve its goals of dominance. However, if employment and pay in blockchain-related fields continue to rise, the future may look promising.
