Since the creation of the Ethereum protocol in 2015, and its virtual currency Ether came to compete with bitcoin, the technology behind it, the blockchain, is attracting increasing interest. Presented as a true revolution in the field of development, it is still in its infancy. Although it seems difficult to estimate its potentialities, it seems destined to play a big role in the future.
Developed by programmer Vitalik Buterin, the Ethereum blockchain enables the creation of decentralized applications across a number of extremely diverse domains. This technology is mainly known today for its use as cryptographic currency, the second largest in the world. However, many other applications are already envisaged.
For developers, the blockchain is a complex and feature-rich database technology. Very young, it asks to be better controlled and to mature to give her full potential. Because of its advantages (the blockchain is secure, impossible to falsify and destroy, and freely available for free), it is now an Eldorado for developers.
We’re going to see where this technology is at a global scale, where it’s a great opportunity for technical jobs for developers, but also what are its main benefits and how to take advantage of them. Finally, we will focus on the future of the blockchain, considering how this innovative technology could evolve over the next few years.
It means that a career in blockchain will grow rapidly in the upcoming years. The demand for hiring the freelance community which has the cryptocurrency expertise will increase in the coming years. The job postings related to cryptocurrency will be multifaceted in the economy and it will help the individuals to make a lot of money. There are many individuals who are already using more than one way to generate a decent amount of income with the help of cryptocurrency jobs.
The current situation of the blockchain
If one can consider that the birth of the blockchain goes back to the creation of the bitcoin in 2008, this one began to be massively used only with the emergence of the Ethereum. Its capitalization has increased considerably in what years to exceed the current 15 billion euros. At present, the blockchain goes beyond the scope of digital currency and other applications are under study.
Companies are trying to understand the true potential of the blockchain. This technology could indeed constitute the basic architecture for the applications of tomorrow: it is, therefore, a major stake in many sectors of activity. Its main flaw is its complexity, which makes it accessible only to a few developers.
The Ether is gradually overtaking the cadre of the initiates to be known also to the general public. Cryptocurrency is more and more traded and has generated many publications in recent years. It is used as a means of payment in certain establishments as well as in various artistic events.
Based on peer-to-peer and blockchain, there are now 796 virtual currencies in circulation, although most of them have an only marginal use. Internet sites like Showroomprive and Expedia accept bitcoins, are home to businesses that recognize both bitcoin and Ether.
The Ethereum blockchain stands out from bitcoin by the concept of “intelligent contracts” which allows triggering the most varied applications, especially between connected objects. The possibilities seem endless for developers who will manage to master the subtleties of this emerging technology. All sectors, from marketing to energy, are concerned by these opportunities.
One of the problems of the chain of blocks is to be little known to the general public yet. Ether, like all cryptocurrencies, remains very volatile as well. The decentralized applications available today can be slow and contain bugs that are hard to fix. Despite these shortcomings, this technology is considered to be the current great innovation and could become widespread in the future.
New job opportunities in the blockchain
Given the importance that the technology of the blockchain could take in the coming years, developers specialized in the field will become extremely sought after. In 2016, there was a ten-fold increase in blockchain job openings on search engines. In 2017, the offers should be much more numerous.
The most represented sectors are telecommunications, banking, and insurance, followed by consulting and industry. With 157 job offers counted against only 15 in 2015, we can see how far the chain of blocks has gone in the space of a year. The evolution curve has been constantly rising throughout 2016 and should continue as well.
Having become a rare commodity, blockchain developers are already sought after in the job market. This trend is likely to increase in the coming months and years. Start-ups wishing to create decentralized applications via the blockchain are the first generators of jobs in this field. Many opportunities are already being seized in the sector.
Companies are also looking for specialists to position themselves among the first to benefit from this technology. Telecommunications companies are the most interested. Groups like Atos, Orange or Safran are looking for new blockchain developers. The banking and insurance companies are not left out, the chain of blocks offering real guarantees in terms of security.
The listed offers show that the profiles sought are those of engineers proficient in English and several computer languages (C ++, Java, Python). They mainly concern R & D missions as well as market and feasibility studies. For developers, this is a brand-new sector that is expanding rapidly, offering significantly increased opportunities in recent months.
The future for blockchain developers
Rich in multiple applications, the chain of blocks is, in the general opinion, the essential technology for years to come. For developers, it seems to be a particularly promising field of work, as evidenced by the increase in job offers posted in this area. Revolutionary from a technical point of view, the blockchain has a future still uncertain.
It is not possible to know now how this technology and virtual currencies based on it will evolve. This is a complex technology that requires high-level skills, even for seasoned developers. Decentralized applications are still slow and development costs can be significant.
One can think thus that the chain of blocks is not a technology arrived at maturity for the moment. For businesses, it is an attractive bet, but not a guarantee. Many companies will certainly seek to recruit specialists in the field for their research and development sector. Start-ups based on the blockchain will probably have more difficult to break through.
The chain of blocks shines especially through the many areas in which it can be used. A wide variety of decentralized applications have already emerged: UjoMusic for the distribution of copyrights, Transactive Grid for the purchase and sale of energy credits, Filecoin for the rental of storage space, Initial Coin Offering for fundraising, etc.
Smart contracts at the heart of this technology are now essential for developers to master. These self-running, self-running programs are full of potential applications in both the private and public sectors. Banks could use them to avoid the risk of fraud, where governments could use it to organize tax collection, for example.
The Ethereum protocol certainly needs to improve to reach a wider audience. The technology is still too intuitive for users and raises questions about security. Nevertheless, the spectacular rise in specialized job offers in this sector shows that it is closely monitored by the private sector as public.
The blockchain represents a particularly interesting opportunity for engineers and developers. The prospect of creating decentralized applications of a new kind is today the spearhead of many start-ups. Finally, given the revolutionary nature of this technology, it is a safe bet that still unsuspected projects using the chain of blocks will emerge in the coming years, offering new job opportunities.