Blockchain is the latest technology to hit the market. With this new system, many new jobs are opening up for blockchain developers. Now a days Blockchain developers are in high demand as companies start adopting this technology on an increasing scale. These developers can come from various backgrounds, but they all have 3 important characteristics:
- They are proficient in at least one coding language.
- They have knowledge of the cryptography behind Blockchain.
- They understand how this particular type of data is stored.
It's a whole new technology with tremendous growth potential and this skill is becoming a money magnet for blockchain developers in different ways to monitize. Blockchain still has its own kind advantages, sowhile most developers have no choice but to get a job or become a freelancer to build apps, there are many other things you can do with blockchain.
The first way to monitize your skill in Blockchain is obvious a blockchain developer. The demand from developers to blockchain developers is currently very high, as so many people are trying to innovate in this area and need blockchain developers to realize their ideas. The blockchain space is so new that not many developers or companies have the knowledge, experience and craving to get in this fast-growing industry. The blockchain developer employment market is becoming a very attractive and demanding profession.
According to a survey by Burning Glass Technologies, the role of blockchain development is currently the fastest growing profession in the IT space. He is also one of the most paid work opportunities. For example, in New York City, blockchain developers earn an average of $ 158 an hour. Most of the developers can get a freelance work along with their running job. One can pick a freelance work of building apps through various platforms like Indeed.com, Upwork.com, etc.
The next way to make money from blockchain is to create an app. And this is actually a unique opportunity for blockchain compared to other types of software development. Build an App using Blockchain is pretty easy to monitize any app as compare to any other App those are really hard to monetize. One of the most common ways to monetize your blockchain app is by billing, which you can do every time a user transfers funds using financial apps for the real world.
With technical skills and tenacity, no one needs permission, as people can actually get trading, investing, saving. while other way is Automated trading, the electronic execution of pre-programmed trades using software. The system monitors one or more markets for a specific set of conditions. If the condition exists, it indicates a high probability of winning from the purchase or sale at this time, create trading but that look for arbitrage opportunities instead. So this is basically finding price differences that exist right now, because sometimes Cryptocurrency exchanges fall out of sync. Doing this on a large scale means that you can potentially make a lot of money from a single transaction, and do it not only in traditional financial markets, but also in centralized cryptocurrency exchanges.
If you buy a cryptocurrency and sell it on another exchange, by the time you buy it and transfer it to another exchange the price will keep moving and the transaction will not be profitable and you may lose money, but smart contracts Using and connecting ensures that your transactions will always be profitable on a decentralized exchange that also uses smart contracts.
What's even crazier is that you don't even have to have money to do this kind of arbitrage trading because you can take advantage of something called flash loans. Here you can basically borrow millions of dollars in cryptocurrency without money as long as you pay it back in the same transaction.
The next way to make money on blockchain is to run nodes that help earn passive income using many different strategies. people will stake their Cryptocurrency to these nodes in order to participate in running the network. Blockchain developers can therefore join and set up blockchain nodes to become validators.
With the increasing adoption of Blockchain technology by companies, the demand for Blockchain developers has also increased. These developers need to have certain skills and knowledge in order to be able to work with this technology. However, if you have these skills and characteristics, then you will be in high demand as a Blockchain developer.