Programming Language for Creating Blockchain Projects: How to Make Money on This Technology?

blockchain language

The technology of blockchain has great prospects for the mankind. Many analysts believe that this technology will open its entire potential only in the next decade. Therefore, it is not too late to learn a new profession or re-qualify if you are already a programmer. In this article we will find out what a programmer should do and how much he can earn.

Contents:
(please click the topic to scroll down to it)

  1. What are blockchain projects created on?
  2. Who is a blockchain programmer?
  3. How and how much can you earn as a blockchain technology programmer?
  4. Conclusion

1. What are blockchain projects created on?

To begin with, you need to decide what product you are going to develop. The point is that if we talk about writing smart contracts on any platform, not necessarily Ethereum, then being a programmer and knowing a programming language is not obligatory. In order to develop a smart contract, it is enough to be able to use search engines and have a certain amount of patience. But knowledge and experience in working with JavaScript or Python clearly will not do any harm.

Smart contracts were created as an instrument that should be accessible to a wide audience. At this point in time, the only obstacle to developing your own smart contract is the lack of quality training materials. This is absolutely normal, given the fact that the technology is still too young. Before you create your smart contract, you should carefully read the Whitepaper of the platform which you are going to work on.

However, if we are talking about the creation of our own decentralized network, then you will need quite a lot of knowledge in coding in this case. One of the most frequently asked questions on this topic is which programming language should be chosen for blockchain. Frankly speaking, P2P networks can be written in different programming languages, but as a rule, GO, C, C ++ and Java are used. Also, you will need extensive knowledge of the principles of HTTP requests in order to write a full-fledged decentralized application, since direct access to blockchain is carried out with their help.

2. Who is a blockchain programmer?

The industry is still too young, so there is a great shortage of skilled workers. At this point in time, there are three main types of specialties in the field of blockchain-programming:

  • A blockchain engineer. The basic requirements for the candidate include experience in such languages ​​as C, C ++ or Java, understanding the construction and implementation of certain algorithms on complex architectures. If you draw a parallel with low-level development, then such a specialty can be compared to working with a clean Linux kernel.
  • A developer. He/she must be able to develop client applications that use chain algorithms to protect confidential data.
  • A developer of smart contract applications. Applicants for this vacancy are expected to have good knowledge and experience in JavaScript and Python.

What programming language is used most for blockchain? This is certainly C and C ++, but it should be noted that experienced programmers can write a blockchain-application using  any other language. In order to succeed in this industry, it is crucial to understand the principles of the algorithms and parameters that directly affect the distribution of information in blocks. A programming language is just an instrument.

3. How and how much can you earn as a blockchain technology programmer?

As statistics show, the average European programmer’s salary is $1500 – $2000 per month. There may be less or more, the final amount depends on many factors, such as: company level, project complexity, work experience, etc. The average salary of blockchain programmers, for example, in the CIS is $4000 – $5000 per month. We also need to understand that this is much less than what US or European colleagues get, and if you have the appropriate experience and knowledge, you will be able to work for a foreign company without difficulties.

These days good specialists in this field can easily find a decent job in any company. At this point in time, large financial enterprises are experiencing a deficit in such personnel, so they closely monitor the safe storage of data. Many banking branches have already begun active implementation of the blockchain technology in their products.

4. Conclusion

The popularity of cryptocurrencies has raised attention of the public to the technology of blockchain. Tens of thousands of transactions (Bitcoin transactions) are recorded every day and stored inside the blockchain of this coin.

It should be noted that the scope of this technology is much more extensive than just a payment network. At this point in time, blockchain is being actively introduced in completely different spheres of life (from medicine to copyright protection). That is why the discrepancy between the demand and the supply of qualified personnel has already formed in the labor market. In order to become a programmer, it is necessary to understand how the algorithms of the information transfer from block to the block are based. A good advantage is the experience in such languages as C / C++ JavaScript.

The blockchain technology will soon open its full potential and there will be a huge number of new jobs in this area. By the way, even now blockchain programmers have much higher wages than ordinary web developers.

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Samsung Galaxy 10 Will Not Have an Inbuilt Crypto Wallet

After the South Korean electronic devices giant Samsung filed three patent applications for crypto and blockchain-related software, the rumours started that the company is planning to incorporate a cold crypto wallet in one of its main upcoming releases – Samsung Galaxy 10.

Samsung’s cryptocurrency service will essentially have two parts. A cold wallet for saving cryptocurrency and a crypto wallet for transfers,” claimed a Samsung news site.

Nevertheless, the official representatives of the company shared in a private talk with the Cointelegraph that the following news were no more than speculation and gossip. Thus, we can now be sure: although, Samsung is actually researching and probably planning to incorporate crypto and blockchain into its products, there will be no crypto wallet in the phone Galaxy 10.

We remind you:

Samsung Created a Blockchain Platform for Banks

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Facebook Is Once Again Looking for Blockchain Specialists

Being a social media giant, Facebook could not turn a blind eye to blockchain. It actually launched a whole department devoted to the research of this technology and was looking for a manager for this department some time ago.

However, none of the representatives of Facebook have revealed any detail as to what they are planning to do with blockchain, which caused a wave of rumors starting from the assumption that Facebook is going to release its own cryptocurrency to the one claiming that Facebook was working on a blockchain network, planning to outrun Ethereum.

The truth is still unclear, but the fact is: Facebook is definitely working on something. It has listed 5 vacancies for blockchain developers on its official site. Considering the fact that it is Facebook and also the rate of salaries for blockchain specialists, there surely will be a huge fight for these 5 jobs. We remind you:

Blockchain Specialists Receive the Highest Salary Among Software Developers

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SWIFT Created A New Payment System To Protect Blockchain and FinTechs Provided By Ripple, JP Morgan, and Transferwise

SWIFT has announced in its latest press-release that it decided to launch a new payment service – Global Payment Initiative (GPI), which is still in pilot version. The system is aimed at combating threats that bring harm to blockchain and other fintech solutions of such institutions like Ripple, JP Morgan, and Transferwise.

The main target of the pilot is “to build the foundation of a new integrated and interactive service that will significantly improve efficiencies in the payments process and which will ultimately be made available to all 10,000 banks across the SWIFT network.”

The GPI tests were conducted in October to try cross-border payments with banks in Thailand, China, Australia, and Singapore. The trial showed that using GPI-system payments could be carried out almost instantly.

According to SWIFT, the pilot GPI system starts working in the first half of 2019. It will cooperate with 15 financial institutions, including Bank of China, JP Morgan, CitiGroup and others. The service provides full transparency to payment beneficiaries and originators.

We remind you

What Is Happening Between Swift and Ripple and Why Does Ethereum Suffer From It?

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New Trend: Why Companies Replacing the Term “Blockchain” to “DLT”

Due to harmful hype to innovative chain of transaction blocks, some companies use “DLT” instead of “Blockchain”, which stands for Distributed Ledger Technology.

The term replacing begins with that some organisations, in their advertising and informational campaigns, decided to change the word “Blockchain” to “DLT”. Such a move connected with the hype about the blockchain technology. Therefore the companies, in order to take some of the negative from them,went on that kind of cunning. In this regard, an independent analytical company Forrester Research has made their own investigation.

Company analytics point out, that “Blockchain” is a trend-word of crypto industry, which many crypto projects abused. The word is used even when the technology isn’t used in the product. The usage of “Blockchain” for the hype invalidate the technology itself.  Since, the blockchain in general is associated with cryptocurrency, when the company which are not related to the world of cryptocurrency, decided to go away from the naming technology and started to use the word “DLT” , in order not to associate their activity with the digital money.

Meanwhile, the word “Blockchain” overtakes the word “Cryptocurrency” by frequency of requests in the world search, according to the Google Trends.

Source:Google Trends

We want to remind you:

The Number of Searches for “Bitcoin” in Google Has Skyrocketed

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Seven EU Member States United To Adopt Blockchain In Their Countries

Several European countries, namely France, Spain, Portugal, Italy, Cyprus, Greece and Malta, signed an agreement to promote and boost blockchain adoption in their regions. They argue the blockchain technology is able to strengthen their economics, as well as increase well-being of the population.

The declaration, signed on December 4, also anticipates collaboration on development of the technology, so that countries listed above become leading regions in this sector.

“We believe that Distributed Ledger Technologies could be one of the instruments that can help our countries [the Southern European Union countries] transform their economies and society into truly digital ones and become a leading region in this sector.”

From their point of view, blockchain may be used in different spheres, such as certifying product origin, education, transport, mobility, shipping, land registry, customs, company registry, and healthcare.

Malta’s parliamentary secretary for digital economy, Silvio Schembri, was extremely excited by this news, tweeting that he is “proud” to see Malta being a “leading role” on blockchain cooperation.

We remind you:

A New Blockchain Association To Be Launched By The European Commission

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Bitcoin`s Overvaluation: Who Can Take Its Place?

Many experts think that Bitcoin is overvalued and that its real value is less, than the market one. Well, in this article let’s talk about the main cryptocurrency, discuss its disadvantages, the current situation, and forecasts for the future. So, first things first.

BTC`s place in rating now (rate, capitalization, market share)

The cryptocurrency industry is not having its finest hour nowadays. Over the past week, the market capitalization has decreased by $70 billion and today this mark is $123 billion. Despite the total prices collapse, Bitcoin retains its leading position – the market share of 54.4%. Now the market is too volatile, so the numbers that will be given in this material may differ from the real ones. For the moment of writing this article 1 BTC costs $3,880, and the capitalization of the coin is around at 67 billion dollars. It is possible, that when you read this article the above values ​​will be different.

Why BTC is considered as overvalued?

At the end of 2017, the BTC rate briefly exceeded $20,000. At that time, this asset was extremely overbought and overvalued. Euphoria reigned in the market, an increasing number of investors wanted to enter the market. But such a growth could not last forever, so a rapid pullback followed after.

Bitcoin has nothing to do with the physical world and by itself can not have real value, in the usual sense. What is BTC? This is just a set of data that is stored on the blockchain. Its value is determined by investors faith, as well as the users base. The problem is that the Bitcoin`s network in its current form is not able to process a large number of transactions quickly. This is one of the limiting factors on the coin`s path to get a universal acceptance.

Who can push Bitcoin from the first place?

Currently more than 2,000 different cryptocurrency projects are released. Is it really possible to find at least one coin from all this long list, that can take the first place in the global rating of cryptocurrencies? This is a rather complicated question, there is no definite answer on it. But speaking about the near future, the most answer will be “no”. The fact is, that now (the end of 2018) BTC holds a 54.4% share of the total cryptocurrency market. This means, that the remaining 2000-plus coins together make up only 45.6%.

But in the longer term, there is a chance, that some kind of token or coin will still be able to take first place. What cryptocurrency projects are capable to do this?

1.Ripple

Lately, it takes the honorable second place in global rating CoinMarketCap.

  • Price: 35 cents;
  • Market capitalization: $14 billion;
  • Issue: 100 billion tokens.

In short, the Ripple technology allows a large number of users to share assets at the same time. The project got its feet on the ground, and what is most important it is used in real life. This technology is used by large banks in order to reduce the cost of transactions (Earthport, Bank of America, HSBC, etc.). Ripple is able to process more than 1,500 transactions per second, with minimal fees (0.00001 XRP). Given the potential value of this project and the huge number of tokens, it can be assumed that Ripple has every chance to win first place in the global cryptocurrency rating.

2. Ethereum

  • Price: 109 dollars;
  • Market capitalization: 11 billion dollars;
  • Issue: unlimited (currently more than 103 million coins have been mined).

Ethereum firmly held the second place for a long time, but the last wave of correction moved it to the 3rd line in this list. We want to remind you, that literally in early November 2018, Vitalik Buterin (Ethereum`s creator) said that the project is waiting for a major update in the near future. If the developers succeed in doing all that, Buterin said, this will have a good affect on the future rate of the coin.

All other coins are too far from the top three in terms of capitalization and popularity among the masses. Potentially, almost any coin from the TOP-100, can get ahead in future, but its probability is extremely small.

Conclusion

For over ten years Bitcoin is the main cryptocurrency in the industry. The overwhelming majority of people when hear the word “cryptocurrency” unconsciously imply Bitcoin. Of course, BTC has its disadvantages, but the development team is working hard to eliminate them. This is a very complex process, the implementation of which requires a lot of time.

So, if we analyze this issue, we can say with confidence that it is unlikely, that any other coin will be able to take Bitcoin`s place in the near future.

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