Blockchain technology has dominated the conversation in tech and financial circles for the past few years. The success of the crypto industry has led to great interest in this technology and its many uses. Indeed, there’s no shortage of jobs for software developers in this industry.
Software developers are in high demand, and their job market is expected to grow by nearly 30% between 2019 and 2029. Furthermore, the blockchain market is expected to grow from $3 billion in 2020 to nearly $40 billion in 2025. So, if you can read the tea leaves, the future looks bright for software developers. Continue reading to learn why.
Optimize the business user and customer experience.
A lot of work goes into making cryptocurrency transactions possible. Software engineers have to develop and optimize systems to make them user-friendly for crypto companies, traders, and miners.
For instance, consumers trying to make an international purchase using digital currency are looking for the easiest possible buying experience. The job of the software development company is to create custom software platforms to facilitate purchases using Bitcoin or some other altcoin. They focus on providing the optimal user experience by making tools that are easy for the target market to use and understand.
Create mobile applications for the crypto industry.
Crypto traders need to have the right mobile apps to manage their crypto assets. Some traders opt for a cryptocurrency hardware wallet, but blockchain developers also make software wallets like the Bitcoin Wallet.
Cryptocurrency wallets hold digital currency, so security is their most important feature. Software engineers put extra care into the development process to ensure their mobile apps protect sensitive data and keep hackers at bay.
Develop encryption methods to provide data security.
Encryption is the most important element of blockchain technology. In fact, it’s where cryptocurrency borrows the crypto part of its name.
It’s up to software engineers to develop new encryption methodologies to ensure the security of transactions and the crypto exchange markets. Furthermore, they create software solutions to enable computers (miners) on the ledger to decrypt transactions to confirm them and place them in a block. Indeed, anyone with a powerful enough computer can operate as a miner without having to worry about them compromising the integrity of the ledger because of encryption technology.
Integrate eCommerce systems.
Cryptocurrency is continually increasing in popularity, and it’s becoming necessary for merchants to accommodate for it on their eCommerce platforms. Custom software developers create the web applications they need to support cryptocurrency wallets.
It can take a long time to implement new technology on a legacy eCommerce platform. However, many companies use a project manager and an outsourced development team to create an eCommerce platform capable of taking cryptocurrency and different types of fiat currency.
Explain new technology to executives and salespeople.
The most important role of software engineers in the blockchain industry might be helping the businesses that wish to implement the technology to understand it. Sometimes, business users have trouble understanding new software products. If they can’t understand them, they can’t implement them or sell them to their customers.
Much the same way Neil Degrasse Tyson and Bill Nye help everyday people understand complex science, software developers help business execs and salespeople understand the benefits of blockchain technology for their customers. Furthermore, project managers work hand-in-hand with business leaders to ensure their custom software products meet expectations.
Cryptocurrency and software development both play an integral role in the development of our society now and tomorrow. You can expect to see plenty of new startups in the cryptocurrency market, meaning the need for software engineers should grow significantly. As you can see, there’s a lot of work for software developers to do!