Blockchain Developer Salary India: A Comprehensive Overview

Introduction

Is Blockchain Where The Big Gold Rush Is?

Cryptocurrencies and the blockchain industry are booming and fast catching up and are being touted as the next big thing globally. Despite holding complex underlying technology, the cryptocurrency market is a maturing industry with large investors parking their money. Realizing the multitude of blockchain applications, the Indian government recognized its potential and took steps to promote it. Participating at FICCI Leads 2022, Indian Finance Minister Nirmala Sitharaman projected that blockchain technology would rise by about 46% in the coming years.

According to a report by Galaxy Digital Research, a New York-based financial services company, venture capitalists have pumped in more than $10 billion in crypto startups in the first four months of 2022. It's likely to increase by 40-50 billion dollars annually. Don't be surprised if you witness crypto unicorns in cities like Bangalore, Delhi, Mumbai, and Hyderabad in the coming few months.

Opening its doors to cryptocurrency, the Indian government has already a good amount of confidence in companies, subsequently giving a push to more career opportunities for people who would like to make their career in blockchain. Leading training institutes like JanBask Training have been pioneers of sorts. It offers competitive and industry-tailored courses in Artificial Intelligence, Machine Learning, Blockchain, Cybersecurity and many more. Once India develops an enabling framework that recognizes the potential of blockchain and cryptocurrencies along with the pool of blockchain developers, we may witness an opportunity to lay the foundation of the new internet, Web 3.0.

Who Is A Blockchain Developer?

A blockchain developer is responsible for creating blockchain protocols, which include creating a network that may be used for both data centralization and decentralization. Additionally, businesses pay well for Blockchain developers in exchange for assigning these experts to handle the creation of smart contracts. 

Stated differently, the Core Blockchain Developer lays the groundwork for others to build upon. He makes use of blockchain-based online applications. The company's progress in blockchain technology is the responsibility of every individual who receives a fair blockchain developer salary in India. Blockchains jobs salary has seen a stupendous rise in almost all major economies of the world.

Blockchain Developers Salary Based on Skills and Experience

Blockchain is one of the highest-paid programming domains, and blockchain developers often out-earn their peers who know other programming languages. Even if you’re a beginner and have limited blockchain knowledge, with proper coaching in the form of a professional blockchain course and certification, you can significantly benefit and make a great career as a blockchain developer or associated roles. Beginning blockchain developers commonly earn 6-figure salaries. 

Like any profession, blockchain developers' salary depends on factors like

1. Your job profile and title
2.  Your job Location
3. Name, type, and size of Organization
4. Your skill sets
5. Your years of experience
6. Your CV and Interview Performance &
7. How well you negotiate

Let’s now look at the significant factors determining a blockchain developer's salary in India.

Has Blockchain Finally Arrived?

Pitched as revolutionary, blockchain can potentially change how we handle data and conduct business. It has proven so versatile and secure that enterprises in various industries have warmed up to it and are already using it for their day-to-day interactions. It is the fastest way to store information and execute transactions. Global spending on blockchain solutions was recorded to be just $6.6 billion in 2021 and is forecasted to rise by over $12 billion in just 3 years. According to Gartner, blockchain technology's value will exceed $3 trillion by 2030. The salaries of blockchain developers are rising all over the world.

According to Reports and Data, the global blockchain market is expected to record revenue of CAGR (compounded annual growth rate) of 69.1% during the forecast period. On September 28th, 2021, CBSE (Central Board of Secondary Education), a national-level education board in India, implemented blockchain to make results tamper-proof and paperless.

One of the biggest challenges today is offering unmatched data security from cybercrime, and blockchain stands ready to meet those cybersecurity needs. With more of our daily activity migrating online, security has become a more pressing issue, which means more blockchain developers would be required and it will lead to an increase in blockchain developer salaries in India.

Anticipating this professional requirement, JanBask Training has designed a blockchain developer certification course that enables you to gain basic to advanced blockchain developer skills to defend against rising and ubiquitous cyber threats. Cryptography and Web Security are in-demand skill sets that prepare you for a winning career. The projected and competitive landscape of the blockchain market worldwide is consolidating by the day, and online courses and job opportunities are skyrocketing. 

Major companies like Amazon Web Services, Accenture, Oracle, Intel, and many more are adopting and engaging in product development and key strategic alliances to expand their platforms and service portfolios. Because of its highly technical nature, blockchain developer roles and responsibilities are immense, along with lucrative salaries and incentives. The initiatives taken by these giants are driving revenue growth and cementing the footwork of blockchain in the global market. 

Keeping Up With the Growing Demand for Blockchain Developers

With such lucrative prospects, the most popular question doing the rounds online is the blockchain developer salary and most importantly the blockchain engineer salary in India. Blockchain Jobs Salary is the biggest reason that attracts and motivates blockchain developers to make it their career choice. In the past few years, as we have seen how Blockchain’s popularity has risen, the blockchain industry is likely to grow 3x more in the upcoming year. And to top it, with corporate leaders worldwide advocating it, blockchain developers' jobs and career opportunities are thriving around the market. Global giants and startups alike are hiring dynamic and brilliant blockchain developers. Apart from great opportunities for blockchain developers, there are excellent prospects, remuneration, perks, and benefits. 

Blockchain is consistently one of the fastest-growing skill sets and highest-paying programming domains, where blockchain developers can earn 50-100% more than traditional developers. For instance, a blockchain developer's salary in India (average) is ₹8.4 Lakhs per year, and now that the Indian government is slowly warming up to cryptocurrency, it will witness an upswing. With the surge in the popularity of blockchain, here's all you need to know about blockchain developer salaries worldwide. Let's also look at the scenario across the globe as per data by Glassdoor:

Academics and Training Go a Long Way

Having a degree in Computer Science will give you a great foundation; however, it is not mandatory to have any specific academic background to become a Blockchain Developer, but it will help you to understand the fundamentals and will lay your foundation to learn Blockchain Technology effectively. Apart from the degree programs, you can opt for several recommended training programs to get more exposure to the particular technology. These skills are essential and are sure to get you an attractive salary package.

Also, check our end-to-end Java training online and courses in Python with foundational to advanced Java and Python skills and real-world projects, and get ahead of your peers.

Interpersonal Skills that you must mention in your resume are:

• Analytical Skills
• Effective verbal and communication skills
• Problem-solving skills
• Organizational Skills

Blockchain Developers and their Demand in Industries

Organizations are rapidly adopting Blockchain technology for its numerous benefits. The Finance Industry has seen the most growth, and other industries are following suit. If you’d like to explore, the options are endless. Industries that blockchain will disrupt in the future are:

• Banking and Finance
• Cybersecurity
• Healthcare
• Supply Chain Management
• Cloud Storage
• Transportation
• Insurance
• Government 
• Real Estate

Further, if you want to make a mark in the emerging tech space with 67.3% estimated market growth by 2025 and earn a 6 figure salary like your counterparts, sign up for the best-designed and formulated blockchain course at Janbask Training. This blockchain course provides a high-engagement learning experience with real-world blockchain applications. So, don’t wait and grow your career now! 

Professionals adept in programming languages like C, C++, Java, and Python are in high demand since most Blockchain projects are written in these languages. And if you are an aspiring blockchain developer or if this digital breakthrough entices you, Janbask can help you further your professional goals. Our carefully designed and curated online training and certification courses in Python can help you get closer to landing that dream job.

The future potential of Blockchain Technology

Blockchain technology has captivated the interest of sectors throughout the globe, with the potential to completely transform the way firms function and communicate. Blockchain technology's present uses in supply chain analysis, identity management, and smart contracts have shown great promise, and its future possibilities are much more exciting.

Decentralization of finance: 

Offering decentralized financial services like lending, borrowing, trading, and yield farming without the need for middlemen, DeFi has drawn a lot of attention. Traditional financial systems may change as a result of this movement, becoming more open, transparent, and inclusive.

Processes are streamlined to increase efficiency when crypto collateral is used to enable everything from simple cross-border transfers to transparent derivative exposures managed by smart contracts rather than paperwork. Composable DeFi protocols allow programmable money to be unlocked, opening up the possibility of large-scale crypto-backed loans with interest rates controlled by algorithms, as well as instantaneous cross-asset swaps inside an open financial system instead of isolated businesses.

Tokenization of Assets: 

Tokenization on blockchain allows for partial ownership of physical goods. This has the potential to change the way we invest in commodities, art, real estate, and intellectual property. Asset tokenization can boost market efficiency, lower entry barriers, and supply liquidity.

Supply Chain Traceability:

Although supply chain transparency has previously been achieved through the usage of blockchain, end-to-end traceability is where the technology's true promise rests. Customers might view a product's complete supply chain, from raw materials to the retail shelf, by scanning its QR code, guaranteeing authenticity, moral sourcing, and quality control.

Healthcare:

Blockchain has the potential to completely transform healthcare by safely storing and distributing patient data amongst healthcare providers. In addition to guaranteeing patient privacy, data accuracy, and interoperability across healthcare systems, this would give patients control over their medical information.

Renewable Energy:

Transparent methods for tracking and exchanging renewable energy and carbon credits could be made possible by blockchain technology. This could encourage environmentally friendly behavior and aid in the fight against climate change.

Authentication based on digital identity:

Blockchain has the ability to produce digital identities that are safe and verifiable, lowering the possibility of identity theft and giving people control over their personal data. This is especially helpful in a world where digital encounters are happening more and more frequently.

International Payments and Remittances: 

Blockchain's capacity to enable almost instantaneous cross-border payments has the potential to completely transform global trade and remittances by cutting down on costs, transaction durations, and the need for middlemen.

Can make difference to voting systems:

Voting systems built on blockchain technology may improve election accessibility, security, and transparency. With the use of this technology, election results may be guaranteed to be free from tampering and fraud.Accountability is improved by having the option for multi-party scrutiny over tallying using smart contracts as opposed to opaque procedures. Standardized blockchain voting systems could make it possible to impose identity verification and distribute digital access passkeys, allowing voters to conveniently access the ballot box from anywhere as adoption picks up speed around the world.

Wrapping Up

Blockchain developers are in high demand, and blockchain developer jobs are booming now. However, there aren't enough people with professional expertise. After reading about the potential of a blockchain developer salary in India, it wouldn't be a surprise if you're contemplating a career in blockchain. If that's where you find yourself, you'll be glad to know that Janbask Training can help you with a great start with an exclusive blockchain developer certification course.

FAQs

Q1. What are the requirements to become a blockchain developer?

Ans: A good understanding of Mathematics, Algorithms, and computer science provides a solid foundation to become a blockchain developer. Technical skills in blockchain architecture, cryptography, hash functions, and app development are necessary.

Q2. What are the popular/top skills required to become a blockchain developer?

Ans: These are the top skills of a Blockchain Developer based on jobs posted by employers.

• Python
• Cryptography
• Javascript
• Data Structures
• C++

Q3. How long does it take to learn blockchain?

Ans: Learning is a continuous process and something that never stops. We can hone our skills throughout our lifetime but taking that first step is imperative and often life-altering. And Janbask provides the perfect platform to take your career to greater heights. The duration of our courses is 6 weeks, with instructor-led live online classes, real-life case studies and assignments, and industry experts. The icing on the cake is we also provide our students with career counseling, resume feedback, and interview preparation.

Q4. Is blockchain challenging and complicated to learn?

Ans: Blockchain is revolutionary and complex, making it slightly challenging to grasp. However, that shouldn't deter you from learning the basics and essentials of blockchain. Decentralization, mining, and a consensus mechanism are the core concepts of blockchain and are relatively difficult to grasp. But with good training, you can learn it well.

Q5. Which companies are hiring blockchain developers?

Ans: Global giants such as IBM, Microsoft, PWC, Goldman Sachs, and others already use blockchain technology and actively recruit blockchain developers. Besides, many startups have adopted the technology, further opening up job opportunities for blockchain developers.

Q6. What is the blockchain developer's salary in India (per month)?

Ans: The average salary for a blockchain developer in India is around 6.7 Lakh (55-60K per month)

Q7. What is the salary of a blockchain developer in the US?

Ans: The average salary for a Blockchain Developer is $1,08,136 in the United States.

 Q8. What are the top-paying companies that employ blockchain developers and what is the blockchain salary in the USA?

Ans: According to Glassdoor, the blockchain salary in the USA and the top-paying companies that employ blockchain developers are:

• IBM Blockchain Developer Salary in the USA - $131K to 143K
• Accenture Blockchain Developer Salary - $1,67,420/yr

Q9. Why do blockchain developers command high salaries as compared to traditional developers?

Ans: Non-availability of skilled talent in emerging technologies like blockchain is the real reason for the skyrocketing salaries.

Q10. Does Blockchain developer salary in India differ from city to city?

Ans: Blockchain Developer salaries in different cities in India range between ₹ 3.1 Lakhs to ₹ 18.1 Lakhs with an average annual salary of ₹ 7.0 Lakhs.

Q11. Why is blockchain jobs salary the most searched question on the internet?

Ans: It is because blockchain jobs are the most high-paying jobs today and the graph is only going to get higher.