How the Skills of Ethereum Developer Are Useful in Blockchain Development
Ethereum is an open-source decentralized software platform that facilitates building and running of Distributed Applications both for personal and business purposes. It allows users to enjoy fast speed and non-interference from any third party. It also allows any Ethereum developer, Yocto developer or even any developer within the ecosystem to diversify their skills. This is because of the planned future collaborations between Blockchain development and Yocto.
What’s so Fascinating About Ethereum Developers
Although most people commonly associate Ethereum with Bitcoin, Blockchain technology spans way beyond the digital currencies. Bitcoin is just a drop in the ocean in terms of applications that employ this technology.
A report published by Quartz has hinted that Ethereum had the largest market share of 34.4% in terms of cryptocurrency searches during the last quarter of 2017. Bitcoin came in with a distant 29.9% over the same period.
We live in a digital village where all our online data including key financial information, email, photos, and social media posts are stored on servers or computers managed by governments and other private organizations. The same applies to the basic apps we use to run errands as all the information is tracked and stored by the app provider.
Once you are done using the Internet, the control of how your online footprints are managed by these third parties departs your side. Although most of these companies have security measures in place to secure your data, we can’t overrule festering hackers who may try to “sneak their snout in a different trough”. Recently, Cambridge Analytica was caught up in a scandal where they were accused of gross misuse of data.
Where does that leave your information as an Internet user? It means that it is “centralized” and controlled by a certain organization somewhere.
To address this centralized data system, Blockchain platforms like Ethereum tries to bring a disruption by setting up autonomous nodes with a distinct set of rules. This allows users to use the Internet with their app usage, data, and identity all remaining anonymous.
Decentralized Autonomous Solution
Picture this; you are typing your final year thesis on a Wordpad using an online web portal. Suddenly, the portal is suspended by the owner and your thesis is no more. Ethereum programming language makes it almost impossible for a single entity to have the monopoly over your data hence a single device can’t abruptly forbid an app. Only users are entitled to implement changes giving full control of their data, irrespective of the app they are using.
By offering a decentralized solution, Ethereum tries to operate the like the present day Internet, only this time without a central authority. This is made possible by running a global network of anonymously operated computers “nodes” coupled with the Ethereum Virtual Machine that executes untrusted code preventing any denial-of-service problem.
With this decentralization and the added benefits of being anonymous, a complete novice or a tech-savvy can effortlessly build, test, and deploy their apps thanks to the Ethereum network. Alternatively, there are multiple necessary activities such as Ethereum coin mining, or Bitcoin to Ethereneum trading which keeps the Ethereum space agile and functioning.
Although Ethereum is at its infant stages, it has unlimited potential in the future. It has an upper hand over other Blockchain technologies thanks to the Smart Contracts which automatically execute without human intervention. This coupled with the increasing number of Apps leveraging on the Blockchain technology will eventually drive the demand.
Lastly, since Ethereum Blockchain technology operates like some sort of a database, its also set to change the future of embedded development. This will come in form of creating next-generation databases utilizing the multiple records capability especially in business environments plagued with trust issues.
Ethereum Application on IoT
From a cruising height, it can be hard to get a succinct idea of the myriad possibilities a merger of Ethereum and IoT projects can bring. However, the Blockchain technology not only gives the Internet users the freedom to authenticate their digital information, it also creates value.
#1 System Efficiency
IoT is a network-controlled management of electronic devices. It could be a simple Internet connection using your phone or even temperature monitoring in a storage facility. Since the smart contracts are automated, a configuration of software, sensors, and the network would make it easy to exchange data between machines and objects. Consequently, this would optimize system efficiency and bring down monitoring costs.
#2 Reduced High Data Breaches
By the year 2020, its predicted that more than 30 billion connected devices will be available globally. This raises devices interoperability and data security concerns. To make matters worse, the open-data initiatives can be hacked meaning connected devices are constantly facing a potential attack. Ethereum smart contracts are utilized to significantly reduce the risks as automated ledgers are flexible enough to track multiple IoT activities. For example, large data amounts are monitored and managed by a contract code.
#3 Scaling Operations
Large industry players in tech, telecommunications, and manufacturing are always looking for ways to dominate the IoT space. An inherent extension of the existing infrastructure in a business means that the IoT applications can extend and mutate from just being the analytical safeguards for the mechanical parts to being massive data analytics systems.
Brief Analysis of Ethereum Developers Globally
In 2016 alone, a total of 446 developers were actively engaged in Ethereum and Bitcoin-related activity. This is no longer the case as Blockchain skills are the hottest commodity in the marketplace. In 2017, Upwork the largest freelance jobs website saw the Blockchain technology skills emerge as fastest-growing from a catalog of more than 5,000 representing over 110% increase compared to the previous year.
Central Europe is the leading consumer of Ethereum in terms of having the largest number of nodes. This shouldn’t come as a surprise as Ethereum Foundation and a cohort of other digital currency companies are located there.
In fact, Europe is more saturated compared to the U.S in terms of reach. This gives Europe’s Ethereum developers more exposure to the technology compared to their U.S counterparts long before the phenomena spread to the global market.
Hiring a Ethereum Developer
An in-house Blockchain or Ethereum developer working in the U.S. earns an average of $140,000 annually with the amount going as high as $163,000 in high-tech cities like Silicon Valley.
Although Blockchain technology is expected to change the world, developers will play a fundamental role in this revolution. Ukraine being an IT hub presents businesses an opportunity to work with thorough and experienced Ethereun developers. It would cost you $100 per hour to hire an Ethereum developer in Europe compared to the $150-170 in places like the U.S.
That aside, a top-end Blockchain application developer and Ethereum developer worth his/her salt would never fall for the monetary caduceus at the expense of a client’s project. They emphasize on assisting businesses to exploit the technology’s potential without looking to scrape a lifetime fortune.
Mobilunity is a melting pot of experienced Blockchain and Ethereum developers who have worked on projects spreading across multiple fields including but not limited to Utility, Identity Management Solution, and Supply Chain. Based in Ukraine, our team of developers has a vast understanding of IoT, AI, and cloud services. We also utilize some of the latest Blockchain technologies like Ethereum, R3Corda, hyperledger, and Hashgrapgh.