Everything you need to know about hiring blockchain developers in 2023
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Blockchain technology entered the digital space not long ago but quickly won users’ and business owners’ hearts due to its transparency, decentralization, and technological superiority. The blockchain workforce, however, fails to keep pace with this growing market. Only several years ago, the number of blockchain app developers was 170+ times less than the total software development labor force. The number of blockchain coders is rising yearly, but that growth is still not enough to cover the existing demand for blockchain talent.
The number of available blockchain developers is insufficient to cater to the rapidly growing market, which was $4.8 billion in 2021 but is expected to rise to a whopping $69 billion by 2030. Most of this growth is projected to happen in the FinTech market sector, with various DeFi apps and high-tech financial services emerging day by day. The blockchain-based financial solutions enjoy high demand in all industries, from retail and entertainment to manufacturing, aviation, and insurance. These trends mean one thing: the demand for seasoned, talented blockchain developers for hire will grow in leaps.
This article introduces you to the world of blockchain hiring and explains everything you need to know to land great talent in your development team.
Who Is a Blockchain Developer?
When you plan to hire blockchain application developers, in most cases, you’re looking for someone who can build, maintain, and design blockchain apps and systems. In other words, a skilled blockchain coder should be able to apply blockchain technology to solve business goals and end-user problems.
Smart contracts are at the core of blockchain systems, so your coder should also understand the smart contract logic and be able to configure one based on your technical requirements. As a rule, you will encounter two types of blockchain coders:
- Core developer. This coder category develops and oversees the operations of blockchain systems’ architecture. These specialists can build protocols, design security systems from scratch, and supervise your whole network.
- Software developer. Blockchain software developers’ scope of responsibility is the creation of blockchain-powered apps based on the existing platforms. They assume responsibility for front-end and back-end development functions, design the products’ UI/UX, and conduct all maintenance work.
Thus, if you’re new to blockchain, you need to double-check your candidates’ expertise against the following set of criteria:
- Inside-out knowledge of the blockchain technology.
- Mastery of one or several high-level blockchain programming languages.
- Experience working with distributed systems and p2p networking architectures.
- Smart contract coding.
- Excellent knowledge of cryptography and cybersecurity.
Types of Blockchain Developers by Expertise and Skills
The blockchain network landscape is diverse, with many ready solutions for business owners to build their blockchain apps. Depending on your chosen technology, you should hire a developer with relevant expertise and skill set.
Solidity Developer
Solidity developers are blockchain specialists who know the Solidity programming language and can create solutions with its use. In most cases, you will look for a Solidity coder if you want to launch a project on an EVM-compatible blockchain like Ethereum, Binance Smart Chain, Polygon, or Celo.
Rust Developer
Rust coders work with the Rust programming language. They can cover your blockchain development needs if you plan to base your project on NEAR protocol, Solana, Polkadot, etc. Thus, you should first clarify what blockchain will be the basis for your project and then search for a remote developer or in-house staff member, depending on your technical needs.
Ethereum Developer
Ethereum remains the golden standard of blockchain-based project development. So, if you plan to work with Ethereum, you need a coder with in-depth practical expertise with this blockchain and a robust understanding of Solidity.
Other categories of blockchain developers you may be looking for include:
DeFi Developer
This category of coders works specifically with DeFi solutions. Their spectrum of expertise may cover DeFi protocols, decentralized exchanges (DEXs), liquidity protocols, liquidity pools, farming pools, and staking solutions for your startup.
NFT Developer
These coders specialize in NFT development and have in-depth knowledge of ERC 1155 and ERC 721 standards. Finding a developer who knows the new ERC 4907 standard is also beneficial if your project implements this innovation.
Blockchain Game Developer
You may need to hire blockchain developers of this kind to integrate Web3 functionality into a game. In other words, a blockchain game developer can enhance your digital game with tokenomics integration. These coders don’t create games; you’ll need a separate team for game design, gameplay development, and character creation. A blockchain coder only integrates the blockchain architecture in a ready-made game to enable its operation in the blockchain space.
Blockchain Solution Architecture
These high-level specialists are a vital part of any blockchain development team. They are responsible for building and integrating the dApp architecture vital for the app’s smooth and secure operation based on the underlying blockchain platform.
Read Also: NEAR protocol vs. Ethereum
Why Implement Blockchain Technology in Your Business?
Blockchain is not another short-lived tech trend that will go away soon. It is here to stay, revolutionizing the modern economy, banking, financial markets, and other spheres. It means that adopting blockchain is necessary for any business seeking to keep up with the changes. A Deloitte survey conducted in 2021 showed that businesses perceive blockchain as a strategic priority for years to come, so it becomes a matter of competitive advantage. Blockchain experts predict that most businesses will use it in some form by 2025. Thus, if you are not one of these forward-thinking businesses, you risk losing everything.
So, what is there in blockchain solutions that encourages an increasing number of companies to harness their capabilities? Here I list the main advantages of using this state-of-the-art technology:
- Unprecedented transparency
- Cost reduction
- Permanent ledger
- Accurate tracking
- Increased trust
- Immunity to tampering and fraud
- Anonymity
In two words, blockchain is all about security, efficiency, reliability, privacy, and speed. It helps build trust, a pressing problem many tech companies currently face. Blockchain’s potential for businesses is immense, allowing them to thrive in the fast-changing economic setting.
Web 3.0 Products that a Blockchain Developer Can Build
Blockchain bridge between blockchain networks
Bridges are essential links between different blockchains that allow cross-chain data transfer and transactions. They help blockchain projects interact with one another by resolving compatibility frictions.
Crypto wallets
Users of the crypto world need to store and move their assets somehow. They use custodial and non-custodial wallets to ensure the safe storage of crypto tokens and coins.
Decentralized Exchange
DEXs are popular today as non-custodial, p2p exchanges allowing users to make transactions without intermediary oversight. Thousands of users are attracted to DEXs with flexible terms and low commissions.
Blockchain-Powered Investing Platform
Crypto investments are also gaining momentum as a new form of wealth management. You’re sure to attract forward-thinking crypto users and build a loyal customer base by building an investment platform with blockchain functionality.
NFT marketplace
NFT marketplaces are popular due to the growing volume of NFT circulation and all-in-one functionality for minting, selling, and storing NFTs. An NFT marketplace is a winning startup for any business because of the hyping NFT technology.
IDO launchpad
Launchpads help new startups launch into the crypto space and gain their initial following among loyal investors. Having a launchpad gives exclusive access to lucrative pre-sale deals and seed rounds.
Cryptocurrency Exchange
There are thousands of cryptocurrencies in the modern crypto space, so exchanges with appealing commissions and a broad range of features don’t lose their relevance as innovative business projects.
Dapp Music Streaming Platform
Decentralized platforms are universally used, and the innovative method of NFT application is music content tokenization. You can easily join this new niche of blockchain business ideas by creating a safe, user-friendly music streaming platform running as a dApp.
Crowdfunding platform
Crowdfunding is at the heart of decentralization, and you can launch a high-tech blockchain-powered crowdfunding platform to unite high-potential startup owners and forward-looking venture capitalists.
Move to earn dApp
Move-to-earn apps are only starting out as a new dApp category, with several successful projects known thus far. You can diversify the product offerings in this niche by launching a functional and fun move-to-earn dApp for fans of an active lifestyle.
Play to earn game
P2E games are the new normal in the digital gaming world. You have good chances to make waves in the crypto space if you develop an innovative idea, beautiful game art, and excellent earning opportunities for gamers.
Are you looking to take your web3 project to the next level?
Don’t let the complexity of your project hold you back. Schedule a meeting with our Blockchain expert & Managing Partner to discuss your project milestones, budget, and technical requirements.
Where to Find Blockchain Developers?
The question, “where to hire blockchain coders?” worries every recruiter. Here is an exhaustive list of variants you can consider in search of the best talent for your team.
Blockchain Job Sites
There’s a realm of job search platforms today, so this point may look a bit self-obvious. We’ve done the legwork for you to identify the best websites to connect with talented blockchain developers:
- Google – the starting point in every person’s digital search.
- Clutch – a resource with a convenient list of companies for development outsourcing, including blockchain experts.
- Goodfirms – another list of development outsourcing providers.
- Upwork – a world-famous platform for remote staff hiring. Recruiters find this resource convenient as they can post a detailed vacancy and get numerous responses in no time. However, the platform still doesn’t handle job interviewing; you need to do it on your own to test the candidates’ skills and review their portfolios.
Other useful platforms to consider are:
- Peopleperhour
- Indeed
- Angel.co
- Cryptocurrencyjobs
- Cryptojobslist
- Web3 Career
- Remote3, and the like.
Pros
- Access to the global talent pool
- Ability to customize the job search to your budget and project type
Cons
- Time-consuming method
- Need for thorough skills and resume checks
Recruiting Agencies
If you have no time to recruit a blockchain coder or have no HR department, it’s possible to use the recruiting agency’s services. Such agencies typically have extensive resume databases and can quickly locate the needed staff for your company.
Pros
- Quick turnaround
- Professional search for candidates based on your specifications
Cons
- Additional fees for the recruiting agency’s services
Outsourcing Companies
Sometimes companies prefer to delegate the blockchain development aspect of their project to an outsourced provider. It’s a cost-efficient and flexible solution, as you only need to find a credible developer and entrust the project to them.
Pros
- Ability to outsource the entire project to a provider
- Flexible terms and costs depending on the company’s location and scale
Cons
- Time difference
- Communication problems
- Lack of control over the project’s progress
Freelancers
Working with freelancers is still a viable alternative, especially if you can’t find the proper talent for your in-house team or don’t have much work. Many experienced blockchain coders prefer to work on their own to avoid corporate red tape and remain independent in their schedules and lifestyle. Still, they can do a good job on your project and typically charge less than a development agency.
Pros
- Ability to hand-pick specialists with a specific tech stack
- Low development rates compared to agencies
Cons
- Lack of control
- Remote team communication challenges
Employ In-House Blockchain Developers
Overall, you can use all the types of searches mentioned above to hire in-house developers for the team. The only difference is that you need to find a developer in your location; otherwise, you need to invest extra money, time, and effort in the candidate’s relocation.
Pros
- In-house staff integrates into the team faster
- Full-time availability and developer commitment
- NDA protection of sensitive data
Cons
- High hiring overheads
- Need to finance the candidate’s relocation
Hire a dedicated blockchain development team
Another option is a dedicated team, which can work from an overseas location but be exclusively committed to your project. Dedicated teams work together, which removes the time difference and communication hurdles.
Pros
- You have a ready-made team with a full tech stack working exclusively on your project
- No legal, taxation, or social package expenses
Cons
- The development team may have time differences or communication issues with the in-house team
- The cost of the team’s maintenance is higher because of the provider’s fee
Schools
Most top schools and universities turned to blockchain development because a lot of students in the technological departments wish to become a blockchain developer and earn a fortune, especially when the demand is only rising.
This is a perfect place for large corporations and startups to find their next employee. Corporations can contact the school and offer to sponsor the best student; as a result, they can get the perfect young mind that will solemnly focus on their needs after graduation.
For startups, schools are the perfect place to get a like-minded genius who will become a part of the young team and will work to get experience, knowledge, and real-life interaction based on the knowledge from school. Here are the best courses for cryptocurrency to get started:
- Harvard’s Introduction to Blockchain and Bitcoin
- Princeton’s Bitcoin and Cryptocurrency Technologies
- IT University of Copenhagen’s Blockchain
- University of London’s online courses
- Berkley’s Blockchain Research
Pros
- You can invest in a talented coder early and ‘book’ the talent for your company.
- It’s a sure way to nurture relevant expertise for the team.
Cons
- The process is lengthy.
- It’s pretty costly.
Conferences
While due to COVID-19 conferences had to convert into the online format, they still happen. And interested, progressive, and iconic blockchain developers do attend such events. So you can search for upcoming events to participate and communicate with its participants.
In-person hiring in this case would go smoother and much easier, yet even while talking online, you still stand a chance to get the right developer for your project or startup. Here are a couple of upcoming events for consideration:
- Wow Summit (Nov. 4-7, 2022) in Lisbon, Portugal
- Blockchain Economy Conference (Nov. 9-10, 2022) in London, UK
- Crosstech World (Nov. 15-17) in Miami, FL
- Blockchain Summit (Nov. 22-24) in the online space
You can also check the up-to-date schedule of the upcoming events in the crypto world here.
Pros
- It’s easier to establish a connection with people during face-to-face meetings.
- You get access to relevant talent collected in one place.
Cons
- It’s impossible to attend all conferences across the globe.
- Conferences are expensive and time-consuming, so they aren’t suitable for short-term, small-scale project recruitment.
Github
GitHub is a source code repository where coders store their projects and work on their troubleshooting and upgrades. Thus, GitHub is an ideal place to look for coders, as it allows you to look at every candidate’s real-life projects and coding logic. You can also see what projects they take part in and contribute to, thus forming a full idea of their hands-on experience and blockchain-related interests.
Pros
- Ability to find relevant talent quickly
- Samples of coder work in open access
Cons
- Only a person with technical knowledge can evaluate GitHub data
The Average Cost for Hiring Blockchain Team and Maintain an In-House Team
| Expenses | Remote (In Ukraine) | In-house (In USA) | Europe, Germany |
|---|---|---|---|
| Blockchain Architect | ~ $170 000 a year ($14 000 a month) | ~ $220 000 a year ($18 000 a month) | ~ $150 000 a year ($10 000 a month) |
| Senior Blockchain Engineer (Solidity) | ~ $108 000 a year ( $9000 a month) | ~ $210 000 a year (~$17500 a month) | ~ $150 000 a year ($12500 a month) |
| Rust developer (Middle) | ~ $90 000 a year ($7500 a month) | ~ $170000 a year (~$14 000 a month) | ~ $100 000 a year ( $8300 a month) |
| Blockchain developer full stack | ~ $80 000 a year ($ 6500 a month) | ~ $140 000 a year ($11 500 a month) | ~ $120 000 a year ($12 000 a month) |
| Business Analyst (with experience in blockchain domain) | ~ $88 000 a year ($7300 a month) | ~ $160 000 a year ($13 000 a month) | ~ $130 000 a year ($11 000 a month) |
| Project manager | ~ $62 400 a year ($5200 a month) | ~ $100 000 a year ($8300 a month) | ~ $78 000 a year ($6600 a month) |
| Office | Remote team | ~ $240 000 a year ($20 000 a month) | ~ $63 000 a year ($5250 a month) |
| Total per month | $49 500 | $102 300 | $65 650 |
| Total per year | $590 000 | $1 240 000 | $794 000 |
Blockchain Developers’ Salary by Region/Country
When hiring a blockchain developer for your company, you need to plan the budget correctly. Your coder’s hourly/monthly/annual pay will depend on their level of seniority, knowledge of technologies, and blockchain specialization. Besides, the coder’s geographical location plays a vital role in the rates they charge for development work. Here are some blockchain developers stats for different regions as an illustration of the difference.
| Country | Avg Yearly Salary | Min Yearly Salary | Max Yearly Salary |
|---|---|---|---|
| Latvia | $170k | $170k | $170k |
| Lebanon | $150k | $150k | $150k |
| Netherlands | $150k | $150k | $150k |
| United Arab Emirates | $132k | $105k | $160k |
| Germany | $120k | $45k | $150k |
| Australia | $115k | $35k | $130k |
| Portugal | $110k | $50k | $150k |
| Hong Kong | $110k | $85k | $120k |
| Egypt | $110k | $110k | $110k |
| Denmark | $100k | $100k | $100k |
| New Zealand | $100k | $50k | $150k |
| Mexico | $100k | $90k | $110k |
| Romania | $100k | $100k | $100k |
| Bangladesh | $100k | $100k | $100k |
| Switzerland | $100k | $50k | $105k |
| Japan | $100k | $80k | $110k |
| Bolivia | $100k | $100k | $100k |
| United States | $100k | $70k | $135k |
| Singapore | $95k | $85k | $120k |
| Israel | $95k | $90k | $130k |
| Canada | $92k | $70k | $110k |
| Belarus | $90k | $90k | $90k |
| Bulgaria | $87k | $40k | $95k |
| Brazil | $85k | $50k | $120k |
| Serbia | $80k | $80k | $150k |
| Sweden | $80k | $30k | $120k |
| Taiwan | $80k | $30k | $90k |
| Cameroon | $75k | $50k | $80k |
| Italy | $75k | $30k | $120k |
| Vietnam | $75k | $15k | $80k |
| Ukraine | $75k | $15k | $80k |
| Belgium | $70k | $25k | $100k |
| Spain | $70k | $60k | $80k |
| Poland | $70k | $50k | $110k |
Freelance Developers vs. Agency
As we’ve already discussed, freelancers and outsourcing agencies are good options for a company unready to house the blockchain development team in its office. Besides, both variants are more cost-efficient than keeping a full-time dev team. So, which option to choose? Here is a brief breakdown of the main pros and cons of both.
Additional Recruitment Parameters: Interview process
When hiring a blockchain developer, you must ensure that the candidate is a perfect fit for your project goals. The best (and last) chance to check it out is the job interview, after which you typically make a job offer. Here are some questions that can help you identify the real expertise of your job candidates and choose a developer wisely.
Interview Questions to Ask a Blockchain Developer before Hiring
- What blockchain platforms on the market do you know?
- How do we get rid of some transactions within our network while keeping cryptographic security but adding some centralization to our app?
- What is the difference between ERC-721 and ERC-1155 standards?
- Let’s move over to DeFi. This is a big field. Why would anyone use DeFi over TradFi? What benefits does DeFi bring over TradFi? (Name three)
- What components of the blockchain ecosystem do you know?
- Do you know what the role of using encryption in blockchain technology is?
- What is a smart contract, and what is it for?
- What industries are changing under the influence of blockchain technology?
- Can you provide some examples of the use of blockchain in real life?
- What are the main benefits and features of blockchain technology that you know of?
- What types of blockchain do you know, and what are their differences?
- Do you know what a trapdoor is and what it is used for?
- Is it possible to change the data in a block?
This is the list of basic questions to ask a blockchain developer. But remember that the CTO and Team Lead Dev who conduct technical interviews may have their own questions to uncover the experience and skills that blockchain developer actually has.
How to Hire Blockchain Developers with 4IRE without recruitment fee?
If you need a helping hand in blockchain talent recruitment, 4IRE can become your dedicated partner in this project. We have a large in-house team of blockchain coders, engineers, and designers ready to work on products of any complexity and any underlying blockchain technology. Partnering with us, you get access to unique business benefits and opportunities:
- Solid reputation in the blockchain development industry. We’ve been working with many big names in the blockchain world within the past decade, building a solid reputation with a commitment to clients’ success. 4IRE has also established official partnerships with NEAR and Polkadot, now offering exclusive development and integration solutions to clients interested in these technologies.
- Full-cycle delivery. We render end-to-end development services and can transform your business idea into a workable blockchain product. 4IRE experts can also handle marketing and fundraising for your project’s smooth start.
- Careful staff selection. We approach new staff hiring cautiously and subject the candidates to multi-tier testing to ensure that only the cream of the crop gets to the team and serves our clients.
- Workflow transparency. You will enjoy fully transparent pricing and will be kept in the loop about every team member working on your project.
- Top-tier industry expertise. We have many experts specializing in various EVM blockchains and always integrate cutting-edge technologies in the delivered products. 4IRE coders are experienced with the Polkadot blockchain and can build robust back-end architecture for any blockchain project.
- Flexible work models. Our clients enjoy efficient cost and resource arrangements due to several flexible modes of our service provision.
- Latest technologies. 4IRE derives its value from an in-house R&D department that tracks the latest market trends and enables us to deliver the most innovative technology solutions to clients.
We currently have trusted representatives in Toronto, Stockholm, Hong Kong, and Ukraine, so we can cover all time zones and parts of the world to fill in your company’s needs at any time of the day. We are also listed as a top blockchain developer by TopDevelopers.co.
All you need to do to hire a blockchain developer with 4IRE is fill out our contact form, and we will get back to you with our findings and ideas. So, whenever you need an effective blockchain development team that offers outside-of-the-box solutions, you know that 4IRE is the place to go.
