It's pretty interesting to note that over 2,300 businesses in the US use Bitcoin. Today, cryptocurrency and blockchain are far from being unfamiliar concepts. These digital assets seem to have taken the lead over the last few years, and businesses are making the most of it.
As a business leader in a digital world, you can't think of thriving without taking advantage of the latest trends and technological developments, especially in cryptocurrency. Still, you'll need professional support for making the most of this digital currency.
Finding the perfect person for the job may seem daunting since the field is relatively new and not fully explored. Cryptocurrency developer skills are not easy to learn. It may be challenging to find a person with the proper qualifications to be your developer of choice.
That is not to say your task is impossible, though. As long as you know what you're looking for in your future cryptocurrency developer, you can place high hopes in your hiring process. To help you successfully hire cryptocurrency developers, we composed a thorough article to guide you on your journey.
What is Cryptocurrency?
Cryptocurrency is a digital or virtual asset designed to work as a medium of exchange. It uses cryptography to secure and verify transactions and control the creation of new units.
Essentially, cryptocurrencies are limited entries in a database that no one can change unless specific conditions get fulfilled. Cryptocurrencies are decentralized. Thus, they are not subject to government or financial institution control and prove less vulnerable to fraud or theft.
Typically, cryptocurrencies get developed on a blockchain, which is a digital ledger of all cryptocurrency transactions. Blockchain is constantly growing as "completed" blocks are added with a new set of recordings. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data. For instance, Bitcoin nodes use the blockchain to differentiate legitimate Bitcoin transactions from attempts to re-spend coins already used elsewhere.
Developer Qualifications Needed for Crypto App Development
Crypto app development is a complex project that requires a team of developers with different skills and knowledge. Before you hire cryptocurrency developers, you should ensure your potential employees have the necessary qualifications for the job.
Currently, there's no particular degree program for cryptocurrency developers. However, developers should still have some qualifications to be efficient in the field. Here are some essential capabilities your future developer should have:
Understanding of Cryptocurrency and Blockchain Technology
A cryptocurrency developer should first and foremost have a solid understanding of cryptocurrency and blockchain technology. In addition, a developer needs to be up-to-date with the latest trends in the cryptocurrency world.
Programming skills are crucial for cryptocurrency developers. These professionals should be able to write efficient, secure, and error-free code.
- Development frameworks
- Development libraries
- Object-oriented programming
In cryptocurrency development, object-oriented programming is essential for developing a secure and efficient codebase. Therefore, you may want to look for developers with considerable experience in object-oriented programming languages, such as Java, C++, and Python.
Developers should also be well-versed in Solidity, a contract-oriented, high-level language for implementing smart contracts on Ethereum. They should also have experience with web3.js, a collection of libraries that allow interaction between DApp and the Ethereum network.
Cryptography is an essential part of cryptocurrency development. A developer needs to be familiar with various cryptographic algorithms, protocols, and tools necessary to secure data. Cryptography entails knowledge of:
- Digital signatures
- Crypto wallets
- Keys and algorithms
- The difference in cryptographic hash functions
Data Structures and Algorithms
Cryptocurrency developers should have a strong understanding of data structures and algorithms. In addition, they should be able to design and implement efficient algorithms.
Systems Design and Architecture
Blockchain architecture is complex and requires a thorough understanding. Cryptocurrency developers need to be familiar with different blockchain architectures and design patterns. They should also know how to optimize and improve the performance of blockchain systems.
Generally, developers work with four main types of blockchain architecture and need to understand the functioning of each:
As cryptocurrency offers admirable network protection, developers should know about security threats and attacks. They must know how to secure data and prevent attacks through protocols such as SSL/TLS.
Cryptocurrency Coding Skills Needed by Coin
Crypto developers must update their skills regularly as the field changes and develops quickly. Still, there are some soft and hard skills the cryptocurrency developers should generally have:
- Communication and teamwork skills
- Adept knowledge of Code reviews
- Knowledge of current technologies and trends
- Ability to write secure codes
- A solid grasp of DevOps practices
- Cross-disciplinary skills
Besides these, cryptocurrency developers need specific skills based on the coin they'll work on within your company. For instance, the skills required for Ethereum will be different from the ones needed for cryptocurrency development using Bitcoin.
Ethereum is a decentralized platform that runs smart contracts. These are applications that run exactly as programmed without any possibility of fraud or third-party interference. They operate on a custom-built blockchain, an enormously powerful shared global infrastructure that can move value around and represent ownership of property. This enables developers to create markets, store registries of debts or promises, and transfer funds.
Besides crypto app development, Ethereum is also useful for tokenizing art in the form of NFTs. With time, the possibilities of Ethereum use are growing.
Required Coding Skills
- Ruby: Ruby is also a front-end programming language that helps with smart contract development on Ethereum.
- Python: This universal programming language is used to develop smart contracts on Ethereum. Since Python is a simple programming language, developers can use it to create crypto apps with fewer lines of code.
- Solidity: Specifically designed for the Ethereum Virtual Machine, Solidity is the most popular programming language for developing smart contracts. Developers use this language to create smart contracts that generate transaction chains in the blockchain and implement business logic.
Bitcoin is a blockchain platform that uses the Proof-of-Work consensus algorithm. Moreover, the blockchain has a public distributed ledger based on the principle of hashing encryption.
When you hire crypto developers for your Bitcoin project, they must be familiar with hashing encryption. Every block on Bitcoin has a hash value. It forms the digital signature for the block. The developers should also know how to use different hashing algorithms like SHA-256 and RIPEMD-160.
Required Coding Skills
- Script: A simple Bitcoin programming language, Script is used to generate addresses, create contracts, and send transactions. Developers can use Script to adjust the parameters for spending and transferring Bitcoins. For instance, they can implement the scripting system, requiring the user to have two private keys or no keys to transfer or spend Bitcoin in the app.
- C++: This is a powerful object-oriented programming language used in Bitcoin for developing wallets, mining software, and other applications.
- Qt: Qt is a cross-platform application development framework. It allows developers to create user interfaces for Bitcoin applications.
- Bitcoin Core: Bitcoin Core is the reference client of Bitcoin. It implements the original Bitcoin protocol and provides a full node implementation of the Bitcoin network.
Solana is an open-source, public blockchain that supports smart contracts., NFTs, and many decentralized applications. The SOL token is the platform's native coin that offers networking security via its transferring value and staking.
Solana is known to be the most efficient blockchain and hence the fastest ecosystem in the world of cryptocurrency. It has a speed of 400 millisecond block times that matches the speed of the hardware.
Required Coding Skills
The cryptocurrency developer skills needed for Solana are Rust C, C++, Phantom, and React. The platform uses the Anchor framework, which makes it simple for developers to build applications. Here are the coding skills a Solana crypto app developer must have:
- Rust: This is a multi-paradigm programming language that focuses on performance and security. Rust is used for low-level development, such as system programming and network programming.
- C/C++: As mentioned, C/C++ are powerful object-oriented programming languages used for developing high-performance applications.
Avalanche is a time-to-finality-based blockchain that improves upon the scalability, security, and decentralization of existing protocols. The Avalanche consensus protocol is a secure, fast, and flexible open-source platform that supports multiple virtual machines, smart contracts, and decentralized applications.
Avalanche exhibits similarity with Ethereum 2.0 sharding in terms of subnet functioning. A subnet is a group of nodes that process transactions and store data. Every subnet in Avalanche is independent, meaning it can process transactions and reach a consensus without depending on other subnets.
Required Coding Skills
Since Avalanche runs the Ethereum Virtual Machine, you should look for developers with the coding skills mentioned earlier for Ethereum cryptocurrency development. Moreover, an Avalanche developer should also be familiar with TypeScript and Vue.
- Solidity: AVAX also uses Solidity for writing smart contracts.
Polkadot has gained popularity due to its support for cross-blockchain transfers. Users can transfer any asset type across blockchains, including tokens and NFTs.
Since the Polkadot protocol connects blockchains, it's used to build decentralized applications (dApps). The DOT taken forms the basis for governance and staking on the platform.
Required Coding Skills
The development of apps on Polkadot requires specific coding skills, such as familiarity with Truffle, Waffle, and WebAssembly. For Polkadot, hire crypto developers who are proficient in:
- WebAssembly: The programing language is used for developing smart contracts and dApps. Developers can use it for both front-end and back-end code.
- Truffle: Truffle is a development framework for all blockchains using the Ethereum Virtual Machine that helps developers build, test, and deploy dApps.
- Waffle: As a development framework for Polkadot, Waffle allows developers to test smart contracts. The Windows Authentication Framework has two Java and C# libraries that perform all relevant smart contract testing functions.
Cosmos is another scalable ecosystem. It's relatively new and provides solutions to the previous blockchains' problems, such as high transaction costs and limited scalability. The ATOM cryptocurrency can power a blockchain ecosystem that interoperates and scales together. In essence, it facilitates communication between blockchains.
Required Coding Skills
A developer with considerable expertise in EVM or Rust-based smart contracts can work with Cosmos due to the extensiveness of the Cosmos SDK.
- Rust: You can use Rust to write smart contracts using the Cosmos SDK by using a WebAssembly module called CosmWasm.
- Solidity: You can write EVM-based smart contracts in Solidity and run them on Cosmos blockchains by using a module called Ethermint.
Binance Coin (BNB)
BNB is a very popular utility token that runs the BNB chain ecosystem. The Binance Coin is the native currency of the popular Binance exchange. It's used to trade various cryptocurrencies on the Binance platform. The currency is also used to pay transaction fees on the exchange. Meanwhile, the Binance smart chain is a high-performance blockchain that uses a DeFi-optimized consensus protocol.
Required Coding Skills
Near Protocol (NEAR)
The NEAR protocol is a decentralized application platform that is secure, scalable, and easy to use. It enables developers to build and deploy applications with the speed and efficiency of the centralized web while still maintaining the security and decentralization of the blockchain.
The protocol is based on a consensus algorithm called "Proof of Stake," which allows for fast and cheap transactions while maintaining a high degree of security. Since it's scalable, the protocol can support many applications and users without compromising performance or protection.
Required Coding Skills
The NEAR Protocol uses the Rust programming language. Rust is a user-friendly language that shows error messages to help developers write fast and safe code.
The NEAR Protocol has three main parts: the account model, the sharding protocol, and the consensus protocol. The account model is a simple way to represent accounts and their balances. It also allows for different account development, such as regular, staking, and contracts.
The sharding protocol is responsible for dividing the network into shards. It's designed to be scalable so that the network can grow as more users join. Meanwhile, the consensus protocol is responsible for approving transactions and keeping the network secure. When hiring crypto developers, go for candidates who understand how these three components work together on the platform.
Cardano is a decentralized public blockchain and cryptocurrency project. It's fully open-source and the first blockchain platform to evolve out of a scientific philosophy and a research-first driven approach.
The platform's mining process is environment-friendly and efficient. The two-layer core architecture allows for a separation of transaction settlement and computation. The latter gets done through a unique custom-built Proof-of-Stake algorithm called Ouroboros.
Required Coding Skills
Developers working with Cardano should know how to write smart contracts in Solidity. They should also be familiar with Truffle, a tool used to test smart contracts. If you want to work with Cardano's test nets, the developers you hire must understand two programming languages:
- Marlowe: It's a domain-specific language used to express contracts for financial instruments. Marlowe requires developers to have banking knowledge, business modeling experience, and financial product handling expertise.
- Plutus: This is a smart contract programming language that allows developers to write programs that interact with both off-chain and on-chain code.
Terra is 'Internet money' available for the top blockchains, such as Ethereum, Bitcoin, Solana, etc. With it, you can buy things online without worrying about exchange rates or fees.
Terra is a digital currency that allows you to make instant, secure, and private transactions with anyone. It's an essential component of crypto apps since it provides a way to monetize and sustain them. For Terra to function as intended, it needs a 'liquidity network.'
The liquidity network is made from exchanges and other financial institutions that help convert your money into Terra. These institutions hold reserves of various fiat currencies and cryptocurrencies, which they use to offer liquidity to users.
Required Coding Skills
Cryptocurrency Developer Salaries
Before you hire crypto developers, you'll need to decide on a cryptocurrency developer salary for each position. We have listed the average wages for cryptocurrency developers by role to give you a better perspective on the matter.
The average cryptocurrency developer salary is $125,700 per year. The sum varies between $80,000 and $118,000 per year.
The average salary of a blockchain developer is around $136,000 per year. Experts can earn as high as $200,000 a year, and those new to the field or just stepping up the ladder in their careers earn around $70,000 per year.
Solidity developers earn up to $70,387 per year on average in the US. Professionals with extensive experience can make over $200k annually.
Smart Contract Developer
Smart contract developers earn anywhere around $120,000 a year. The maximum point is about $200,000, and the lowest is $70,000 per year.
Rust developers have an average salary of $91,709 per year. However, the final number can range between $19,500 to $146,000, depending on the developers' experience and skills.
Where to Find Crypto Developers
Most companies still opt for traditional recruiting, doing everything manually and from scratch. Instead of wasting your time on outdated marketing and scrolling through a pile of resumes, you can go for a more time- and cost-efficient option.
Crypto Job Boards
Most companies resort to crypto job boards to find full-time employees. Boards like Cryptocurrency jobs undoubtedly make great resources for finding skilled professionals across industries.
Still, candidate filtering is not always a simple task. Job boards only let you publish your job posts. They usually don't perform pre-screening of candidates or provide any support during the recruitment process.
The top professional platform for uniting employers and potential employees, LinkedIn is a great place to get your hiring process started. You can join groups, browse the network, post jobs, and find and interview candidates here.
Those who prefer more support in their hiring process may want to partner with talent marketplaces. These services help recruit individuals according to specific needs and requirements. Talent marketplaces also often provide other benefits, such as pre-screening candidates so you can interview the top picks and save time and money in the process.
Revelo is a talent marketplace with a vast base of candidates from various backgrounds and experiences. We connect top tech talent from Latin America with US-based companies, helping businesses save time, effort, and money when scaling and growing their teams.
Revelo pre-vets candidates so you can hire the perfect person for the job as soon as possible. All you need to do is tell us your needs and wait to conduct the interviews. Moreover, you get a risk-free 14-day trial to try our services first-hand and make sure we are the right choice for you.
How to Hire Cryptocurrency Developers
Finding the right individuals for your development team can be tricky. However, if you craft a solid job post and perform proper testing, you can rest assured your efforts will give results. Here are a couple of tips that can aid you in designing a perfect job ad, interview, and coding challenge.
Crypto Developer Job Post Example
If you want to hire the right person for the job, the key is to have the perfect advertisement. Your job post should have the following:
- Company Introduction: Keep in view your company's vision and mission when drafting the job posting. Include your goals and thorough company description in the job post to give the applicants a sense of the culture they'll enter.
- Skills and Qualifications: Highlight the skills and qualifications you require candidates to have. For example, when hiring a Solidity developer, you should list extensive experience with this programing language.
- Requirements: Make sure to list all the requirements for the job, including all the tasks the role entices. For example, you can list projects you're currently working on to show applicants what they'll do when they enter the company.
Cryptocurrency Interview Questions
Before you hire cryptocurrency developers, conduct a thorough interview process to assess their knowledge and compatibility with your company. Here are some basic questions you can ask:
- Have you worked on a crypto development project before? Knowing the answer to this question will give you insight into the experience and expertise of your candidates.
- What coding languages do you know? A crypto developer should be experienced with multiple coding languages to be able to develop on different platforms.
- What is your experience with blockchain technology? Blockchain technology is the foundation of cryptocurrencies, so a crypto developer should understand how it works.
- Which features should a cryptocurrency have, in your opinion? The answer can help you gauge candidates' understanding of the field and whether they're well-aligned with the vision you have in mind for your cryptocurrency.
- Do you have any questions for me? It's always good to check whether a developer has any concerns or questions about the project or role.
Cryptocurrency Coding Challenges
Nowadays, many companies and private organizations hold online coding challenges to attract talent. The organizers usually list a few programming problems and ask the participants to solve them within a limited time. The difficulty of these challenges varies from easy to hard.
You can follow this example and hold an online coding challenge for your candidates. Using this approach, you'll be able to vet the candidates' skills quickly and efficiently. Reply holds such a challenge yearly. Likewise, GitHub has a list of Solidity coding challenges that you can take inspiration from if you plan to use Ethereum for your project.
The crypto industry grows and spreads its wings around various platforms and social networks with each passing day. With the top names like Tesla and Twitter becoming part of the domain, it's time for other businesses to start exploring its potential and benefits.
But how do you start growing a team that will help you dive into the field? While managing other business processes, companies often don't have the time and resources to conduct a lengthy hiring process. That's where Revelo comes in to help you hire cryptocurrency developers.
Revelo can match you with talented cryptocurrency developers in no time. We take the tiresome recruiting tasks from your shoulders by providing pre-vetted talent picked to meet your needs.
With Revelo, you can recruit and manage your global crypto talent in the same place. Get started with a 14-day free trial today, or contact us for more information.