A favorable economic condition fueled by a rise in demand for cryptocurrency in various applications is driving the cryptocurrency market. Companies like Bitmain, NVIDIA, Xilinx, Intel, and BitFury have responded to this and launched innovative hardware and software to boost the crypto economy. And the market seems strong. According to Markets and Markets,
- The crypto currency market is at $1.6 Billion in 2021.
- It is expected to reach a value of $2.2 Billion by 2026.
- The CAGR expected to be exhibited by the market from 2021 to 2026 is 1%.
The major drivers of this market will be the distributed ledger technology and massive venture capital investments. Even though an uncertain regulatory status could hinder the process, the hopes are high among market leaders. The global players currently include Advanced Micro Devices, Ripple Labs, Ethereum, CoinBase, Binance, Canaan, Bitstamp, and Alcheminer.
It is a wise decision to now jump on the bandwagon and carve a name for your business within the crypto world. In order to do that, you need to hire a crypto currency developer with in-depth block chain knowledge. The developer must be proficient in the development tech as well as know the industry peaks and lows. Here we will list 5 skills that any cryptocurrency developer or a cryptocurrency development company must have in 2021.
CRYPTO CURRENCY DEVELOPER SKILLS
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BLOCKCHAIN SOFTWARE
The developer must have a deep understanding of blockchain architecture and deployment protocols. The developer must maintain a high functioning portfolio of Dapps or decentralized apps. They must be able to design an efficient consensus protocol. Additionally, they are required o supervise the network and design architecture. The security of the entire architecture is their responsibility.
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CRYPTOGRAPHY
Unwanted parties can be prevented from accessing your data using cryptography. A crypto currency development company must understand public-key cryptography and implement it seamlessly. They must also have cryptographic hashing knowledge and deploy keys and wallets smoothly.
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SMART CONTRACTS
Smart contracts are increasingly being used in industries like construction and law. It is important to be familiar with the concept. Languages like Viper and Chaincode that focus on smart contract development must be an area of expertise for the developer.
It is crucial for any developer to let their technology become a solution. The expertise must not only create technical structures, but must have the ability to transform into a web app or other user-centric elements. Any crypto currency developer must have the experience of creating robust apps that can channel their tech.
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DATA STRUCTURES
Crypto currency developers and block chain engineers will work extensively with data. They derive information from data and build networks by implementing this knowledge. Having a strong foundation in data structures helps the developer to understand advanced block chain concepts and develop better performing crypto currencies.
With industry leaders like Facebook, Twitter and Tesla testing waters in the crypto realm, it is noticeable that the industry is yet to see the peak. Having a strong crypto currency development team to assist you navigate these waters will ensure your success. It will also give you an insight into the crypto world through the eyes of professionals and specialists. At Orion eSolutions, we take deep dives into the market periodically. Our team is equipped with the best tech for a cryptocurrency development company. Let us make things a little more clear.
WHY MAKE ORION eSOLUTIONS YOUR CRYPTOCURRENCY PARTNER
We undertake projects ranging from exchange development and wallet development to app development. We offer custom cryptocurrency development solutions such as ICO and crypto coin development. We are proficient with Bitcoin Core which is the underlying reference client along with Altcoin, Dogecoin, Litecoin, and Ethereum. We also provide services using the Solidity language.
Our team consists of product owners with experience in all the industries such as healthcare, ecommerce, banking, retail and much more. We also sport developers with expertise in a plethora of languages along with business consultants and QA experts.
Get in touch with us today to see how our solutions can give you that competitive edge over the other players in the industry.
