Cryptocurrency is a kind of digital currency that uses cryptography (a way of communicating through codes) to validate itself and to protect financial transactions. The most well-known cryptocurrency on the market is Bitcoin, the original decentralized cryptocurrency. The best way to think about Bitcoin, and Ether, and other currencies, is as a contract between buyer and seller. They represent agreements to conduct an exchange between counterparties, just as the U.S. dollar and other fiat currencies have always been representations of the implicit promise of governments to uphold transactions. The big appeal is that crypto money doesn’t need to be issued by banks, and exchange rates don’t need to be controlled by a central bank. A company can create its own contracts, just like creating a new programming language. As long as counterparties will agree to uphold the contract, a whole system of transactions can be set in motion without having to be ruled by the processes of normal monetary and banking authorities.
According to data from Seen by Indeed, the cryptocurrency industry is currently severely booming. This data mentioned the most demanded roles related to cryptocurrency, skills most often listed in cryptocurrency job postings, and companies hiring the most cryptocurrency-related positions. Only after analyzing the percentage change in the share of job postings and share of job searches per million for roles related to bitcoin, cryptocurrency, and blockchain, it was revealed that between September 2015 and September 2019, the share of jobs per millions of roles grew by 1,457%. In fact, from September 2018 to September 2019, the share of cryptocurrency job postings per million increased by 26%.
Blockchain is essentially a shared digital ledger that has emerged to become a business solution in search of problems. Advocates see it as a secure, decentralized, and cost- and time-efficient way to transparently track shipments and transactions of all kinds. Skeptics, and there are many, raise concerns about the lack of standardized protocols, scalability, and excessive energy use.
The business world, however, is voting with its jobs, and companies seem to be saying that the potential is worth the gamble. Blockchain has become a line of business for a who’s who of the corporate world — IBM, Oracle, JPMorgan Chase, Microsoft, Amazon, and American Express, to name just a few. Blockchain is now being used in industries ranging from shipping to healthcare, from farming and food safety to entertainment and gaming.
Blockchain, for example, is the most in-demand skill in the United States, the United Kingdom, France, Germany, and Australia. Other tech skills — cloud computing, analytical reasoning, AI, UX design, scientific computing — joined blockchain on the list of in-demand hard skills.
One of the most popular software engineer jobs is a blockchain engineer, which has grown by 517% year over year. As more businesses adopt blockchain and handle cryptocurrencies, these roles will continue to be in demand as reported by Hired.
Companies wanting to dive into cryptocurrency will most likely turn to senior software engineers to lead their blockchain engineering initiatives.
A high-level software developer helps select the best architecture for various business systems. Additionally, the architect helps successfully execute solutions alongside software engineers catering to blockchain initiatives if the organization is moving in that direction.
For organizations using cryptocurrency, full stack developers help with cryptocurrency and blockchain integration.
A front-end developer is a specialized web developer who focuses on the user experience part of the web experience, holding strong design capabilities that forge visually appealing elements on a site. For those companies who are focused on blockchain and cryptocurrency, front-end developers could help gear a website toward that focus.