The blockchain market is growing. According to Fortune Business Insights, the global blockchain market is projected to grow from $7.18 billion in 2022 to $163.83 billion by 2029, at a CAGR of 56.3%. The decentralized technology has already impacted the banking, insurance, real estate, and healthcare industries and plans to disrupt practices within other industries.
Innovative Blockchain companies continue to emerge and here's a few to keep in mind. Nori is transforming the carbon removal market by leveraging the ‘Nori’ token to help reverse climate change by adjusting gouged prices set by farmers. StormX is another growing blockchain company, with a business model centered around earning crypto simply by installing an extension in your browser and earning every time you shop online. Gemini is a crypto wallet with advanced capabilities to research the market and buy major crypto tokens.
Blockchain companies are pervasive nationwide, as new hubs in Las Vegas and Seattle have sprouted up to join the major forces in New York, San Francisco, Chicago, and Miami. Companies spurring innovation within the blockchain space are looking to introduce specialized talent to advance their business efforts. For zealous candidates looking to find out what blockchain roles might be best suited for their skillset and passions, this resource might lead you down the right path towards landing your blockchain career!
4 Key Roles Powering the Blockchain
1. Blockchain Data Engineer
What are your responsibilities in this role?
As a Blockchain Data Engineer you are responsible for architecting, enabling, and testing data pipelines to guide blockchain construction. Why is this so important? Blockchain technologies' core purpose is ensuring information remains concealed from third-party sources. In addition to constructing the blockchain, you’d be responsible for researching blockchain and cryptocurrency data trends to construct visualizations and infrastructures that drive decision-making. Blockchain is in a rapid growth stage, so remaining current is necessary to advance all efforts.
What Skills or Knowledge Should You Possess?
Blockchain Data Engineers often hold degrees in these core areas; Computer Science, Mathematics, Engineering, or Machine Learning. In addition, they tend to have software proficiency in; Python, SQL, Java, C/C++. And, of course, knowledge of cryptography and blockchain technology is a must! Understanding how to architect blockchain means ensuring anonymity on all levels, so understanding cryptography is a non-negotiable to ensure information security.
2. Blockchain Security Engineer
What are your key responsibilities in this role?
Blockchain Security Engineers develop security protocols within the blockchain to ensure its safety from malicious attacks that could comprise it's integrity and lead to a data breach. This is achieved by creating internal security tools with multiple layers. Aside from creating new security measures, blockchain security engineers often find themselves auditing existing security measures to address vulnerabilities that can threaten the current infrastructure by building threat models.
What Skills Should You Possess?
Blockchain Security Engineers should possess experience architecting security measures and cloud environments. Familiarity with smart contract auditing with a varied concentration in DeFi, Web3.0, or NFT’s depending on the area you’ll specialize in is a key requirement. You’ll need a strong understanding of SecOps procedure testing such as (intrusion and malware detection) and the ability to apply data encryption keys. These skills can be acquired through certification programs like this 6-week course offered by the Wharton School of Business at University of Penn. Industry professionals and thought leaders in the blockchain space will help expand your knowledge of security protocols.
3. Smart Contract Developer
What is a Smart Contract?
Simply put, smart contracts are used to grant or deny permissions. Most popular for its association with the Ethereum ecosystem, they are code embedded in the blockchain that assemble the conditions that advance or block authorization. Useful for a variety of industries, including real estate, finance, and law. Smart contracts ensure neither party can modify or reverse the pre-determined conditions. You can see the application for real estate mortgage negotiations or in law for marriage licenses where ensuring that the agreed upon terms are fulfilled is pivotal.
Why are Smart Contracts Important to You?
According to Valuates Reports, the ‘global Smart Contracts market size is projected to reach USD 1460.3 million by 2028, from USD 315.1 million in 2021, at a CAGR of 24.2%.’ Meaning the smart contract market is on pace to more than quadruple in less than a decade! It’s safe to assume the need for specialized talent will balloon to follow the market growth.
4. Web 3.0 Engineer
What is Web 3.0?
Web 3.0 is the next iteration of the internet built on the public blockchain. It has recently gained a lot of traction, as ‘data privacy’ continues to dominate headlines. Companies have notoriously profited from selling user data. As the blockchain ushers in a potentially transcendent internet era, the reliance of large tech giants to store massive amounts of user data will start to fade. Decentralized Finance or DeFi in short, has also grown in popularity as a way of facilitating financial business without the oversight of the central banks. You can see the recurring theme of privacy and security are the main pillars driving the innovation of the blockchain. The future of Web 3.0 will mutate, but it’s expected that the current cyrpto infrastructure will set the stage for architecting the newest iteration of the internet.
What Skills Should You Possess?
Web 3.0 Engineers should have a firm understanding of Artificial Intelligence and Machine Learning; pivotal components to engineer the systems advancing Web 3.0 operations. Web 3.0 empowers creators and allows them to monetize their content through tokenization and subscription services. These systems are architected through AI and ML capabilities. Additionally, knowledge of smart contracts and security protocols is key to advance Web 3.0 efforts.
Consult with a Yoh Recruiter
Unsure about where to begin in your blockchain career journey? Yoh’s team of dedicated Cybersecurity recruiters can help guide you through your journey and pair you with the right company tailored to your specifications. We can help expand your visibility as a candidate and set you apart from others in the talent pool by vouching for you and helping to expand your skillset. As the blockchain market grows, the need for talent will follow. Launch your career in blockchain by contacting us!