Blockchain technology is taking the business world by storm. It is all the rage in 2022. The nuances of the tech maybe clouded even for experts. However, the popularity and prevalence are perceptible. Improved visibility, efficiency, and security are the factors driving this growth. Let us take a few statistics driven explanations for this growth.
- The market valuation was estimated at $3 Billion in 2020.
- According to Markets and Markets, the block chain market will experience a CAGR of 67.3% from 2020 to 2025.
- This growth will take the valuation up to $39.7 Billion by 2025.
The growth is further attributed to venture funding and massive investment and the popularity of block chain in retail and supply chain management. This new paradigm has given rise to a shift in software development as well. A new era of developers is emerging. These developers are proficient in shared ledgers, cryptography, DAO, digital assets, EVM, genesis block, and IPFS to name a few aspects.
But the fact remains that if you are thinking about developing your own blockchain based software, it is imperative that you hire meaningfully. In this discussion, we will list out 5 crucial skills that a developer must possess in order to exploit the tech and trend tactically.
5 SKILLS TO LOOK FOR WHILE HIRING A DEVEOPMENT PARTNER
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ARCHITECTURE
Blockchain architecture is a must have skill for any developer. The developer must be well versed in hash functions, distributed ledger technology, and consensus along with others.
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DATA STRUCTURES
Building networks and implementing them constitutes a large chunk of the developers’ job role. For this, the developer will be expected to work with extensive data structures. It is the basic building blocks and the backbone of block chain development.
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SMART CONTRACTS
After the release of Ethereum 2.0, smart contracts are seeing wide spread adoption. Business logic can be seamlessly applied throughout the layers within the system. The developers must also be proficient in network specific languages such as Solidity, Viper, and Chaincode.
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CRYPOTOGRAPHY
Cryptography is crucial for creating confidence. The developer must be able to handle encryption and decryption models of public and private transaction. Data security also depends upon this.
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WEB DEVELOPMENT
Web apps are becoming synonymous to blockchain development. Any expert must be well versed in web development, app programming, and web designing. This domain knowledge is especially crucial now since crypto aficionados are being hired mainly for web and app development projects.
Being an extremely vast and largely untapped vista, crypto development also comes with a few prerequisites. The main ones are programming languages. There are 3 programming languages that are in high demand in 2022. Developers with deep knowledge about these three will definitely fit the description.
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JAVA
With over 9 million developers as part of its community, Java is among the favorite languages for blockchain enthusiasts. For instance, NEM is a popular crypto developed solely on Java. Java has a 35.35% market share.
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C++
C++ has been a widely acknowledged blockchain language ever since Bitcoin’s core was developed using it. This language is known for its memory control capacity and its ability to handle parallel and non-parallel tasks with equal efficiency.
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PYTHON
Python is one of the most versatile languages. Its libraries assist in back end and front-end tasks. The security, performance, and most importantly, scalability offered by Python is what makes it appropriate for such large scale development. Python enjoys a 48.24% market share.
This discussion encapsulates the 5 major skills and 3 most important languages that any blockchain developer must know. This increases the flexibility with which they can handle situations. This also paves way to better innovations and expanded breadth of solutions. Let us conclude on this note.
SUMMING UP
On-premise and cloud deployments are increasing in popularity. In 2022, major ripples are being created in the following markets: payments, smart contracts, documentation, digital identity, GRC management, supply chain management, and exchanges.
If you are intrigued by the new echo across the development landscape and are convinced of the business benefits it can shower on your organization, it is paramount that we have a chat. You need a trustworthy block chain development partner like Orion eSolutions. Get in touch now and let us see what we can build together.
