Blockchain software development has become one of the most sought-after professions as the crypto industry expands.
Talent delivery and advisory firm Durlston Partners, which specializes in the technology industry, notes that the skills of blockchain developers, especially decentralized application developers in the DeFi ecosystem, are in high demand today.
According to the firm, blockchain software development is one of the most appetizing specialties for companies in the technology sector. However, it is also one of the rarest, mainly due to the fact that the cryptocurrency industry is relatively new, having only been in development for 14 years.
This is why companies are increasingly improving the salaries they offer to blockchain developers. Durlston Partners highlighted that the increasingly competitive market and the shortage of specialized talent has prompted companies to improve salary conditions as Pay “high compensation to attract and retain talent”.
There is a shortage of specialized talent in the blockchain industry
Blockchain software developers require specialized knowledge and unique skills to fulfill their roles, whether as maintainers of a blockchain infrastructure or system or as creators of new applications, solutions, and protocols.
Due to the need for highly specialized technical knowledge, blockchain software development has become increasingly valued in the technology industry.
In 2022, the average annual salary for a blockchain developer in the decentralized finance sector was between $125.000 and $160.000 dollars, the firm said. Currently, the average salary for the same developer is about $180.000.
The appreciation in the salary of a blockchain developer shows that the market has become more competitive, that companies value the skills of these professionals more, and that the bear market of 2022 has not diminished interest in the crypto industry, which has become more mature.
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