Blockchain is a technology which has raised limitless possibilities and its impact is evident with its worldwide adaption. We have read and heard in news and articles how this technology is adopted by companies of sizes. And after hearing it, you can’t help think about having your business run on blockchain.
And then arises the million dollar question, how much would I have to pay for a blockchain developer? Honestly speaking, it is not so cheap yet, however you may find some blockchain development companies that are providing their services at a reasonable price.
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Why the price is high?
Blockchain development has surely begun at a fair speed, however, it hasn’t reached a level where you can easily find a blockchain developer. Since people have just started adapting this technology, a large number of developers do not know about this technology.
As the technology is many developers are still learning it, those are working on it are newbies who have just finished their tutorials on blockchain. According to a report, there are 20 million software developers across the globe out of which, only 0.1% know about blockchain. This makes the supply of blockchain developers really scarce.
However, the rise of bitcoin and ethereum has spiked the market of blockchain developers. We also hear it being implemented in various domains through blockchain projects. Though various companies have started providing services based on blockchain, the question is how effective their services are?
Many industry giants have come up with their blockchain projects to induct this technology. Automobile giant, Porsche has plans to integrate blockchain into their framework for serving their customers with better access to resources and services. They are also planning to launch a self-driven based on blockchain technology.
Alongwith companies, governments are also interested in introducing blockchain into their working to smoothen cumbersome and heavily layered procedures. All these tidings related to blockchain make the average income of a deft blockchain developer from $150,000 – $200,000. If you hire a professional, the price may go from $40 to $200 per hour.
How to make it cheap?
Given the previous statement, experience and skill are not the only things that determine the cost here. It is also about the geography and employment opportunities as well. The most expensive programmers or developers who can work on blockchain are found in North America with the pay-scale of $150-$200/hour.
If you move to Europe, the price will be lowered to $100-$150/hour. Going further East will bring it even lower to $70-$100/hour. However, the least expensive developers are usual found in Far-East and South-Asia in countries like India, Philippines etc. The average pay for a developer here is $40/hour.
The price is now cheap because the coding is of low quality, it is because of the economy of these nations. In fact, 80% of the blockchain development services can be found in these regions. Moreover, the given figures are for full-time employees, if you hire freelance developer, the costs will be even lower. Therefore, APAC becomes the hub for blockchain developers for the entire world.
Women Power
With blockchain development, a large cadre of women developers is joining the league of tech junkies. The presence of women in the team or the team led by a woman makes an excellent appearance in the current scenario of business. Blockchain has substantiated this levels ahead and pushed companies to hire female developers.
However, this is a costly affair as the number of female developers and programmers are comparatively lesser than their male counterparts. While the demand for female workforce is growing the supply is still less which makes it a costly affair. Unfortunately, there is no platform which exclusively works for hiring female techs.
Motivation valued more than money
Blockchain is regarded as something which could change the course of our future and those who say it are the developers. The fact check tells us that the expert blockchain developers are already millionaire and more money doesn’t lure them to work on projects they have already done. For them, it is the bigger challenge which surfaced very rarely, so most of the job is left for novices.
To sum it up, if you really have an innovative and not-yet-tried idea, you may be able to hire a top-notch developer without paying a hefty price. And if it is not really unique, you don’t need to be disappointed because there are a large number of blockchain development companies in India that can give you what you want.
Technoloader is a blockchain development company which provides all sorts of blockchain-based services. We have a team of seasoned professionals who can deliver customized blockchains that suit the purpose of your business. Hire a blockchain developer from us and get the most cost-effective yet efficient service.
