In 2021— Ethereum is the second-largest cryptocurrency with a massive cap of over $44 billion. You may come across people who would know about Ethereum but not Blockchain.
Not surprisingly, the demand for Ethereum developers has gone a long way ahead in the Blockchain. So what is your need for Ethereum development?
Blockchain has emerged to be one of the best technologies in recent times. Industries line up with their projects in Ethereum development. However, to emerge a winner, you have a sound and robust team of paramount importance. Blockchain developers are to be very precise as Ethereum developers to become a key component of them.
So here in this guide, we are making things relatively more accessible to hire the best talents of ethereum development. But you’ve got to be smart enough to hire Blockchain developers who are the best in the business.
Before you go ahead, you should be well-versed in the Ethereum development process to choose among the best in the business.
Let’s understand what skills you look for in a Blockchain or Ethereum developer :
Blockchain development comprises many features, and it is essential to have specific skills before you become one. Skills required for a Blockchain developer.
Cryptography is all about making your transaction secure, preventing authorized access to data. For that, a developer should have an understanding of Blockchain essentials in cryptography for Blockchain application development. For instance, a vital Blockchain concept is a public-key cryptography, as it forms the basis for any transactions based on cryptocurrency.
Before you start and go ahead with cryptocurrency transactions, you will require a wallet with a key.
The key has relevance as it ensures the owner of the wallet. Another critical term of cryptography for Blockchain is cryptographic hashing.
It implies that Cryptography is the core for the proper functioning of Blockchain technology, which is why it is best to learn all the aspects of a Blockchain developer.
2. Smart Contract
They are popular Smart Contracts for the Blockchain industry; all Blockchain solutions use Smart Contracts to their benefit. It allows parties to exchange goods/services without the role of an intermediary. A Smart Contract finishes after the party involves both of their conditions.
In numerous industries, be it construction, law, or other, it is essential to be familiar with Smart contracts before becoming a Blockchain developer. So it is of paramount importance before you hire a Blockchain developer. Furthermore, several languages focus primarily on Smart Contract development like Viper and Chaincode.
3. Blockchain Architecture
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Understanding Blockchain architecture, developers need to be well-versed with Blockchain architecture. Furthermore, it would help if you understood what Blockchain entails in Blockchain and how the Smart Contract works. Familiarity with Blockchain architecture is the key for a Blockchain developer. On top of that, one should understand what Blockchain ledger entails in Blockchain, similarly how Smart Contract works.
There are three kinds of Blockchain architecture:
- Consortium architecture,
- Private architecture
- Public architecture.
4. Web development skills
A blockchain developer will probably be building web apps for enterprises’ needs so that people with little understanding of blockchain can easily use them. Hence, learning web development gives developers more insight on learning other blockchain technology aspects that’ll be pretty helpful in learning web design and programming of apps to develop Dapps.
5. Data Structure
Before you move on and hire a Blockchain developer, you should see if the developers have a fair understanding of data structure. Since the core task of Blockchain developers is to regularly work on various data structures and building networks and implement them. Furthermore, the entire Blockchain network comprises data structures.
Learning about a data structure helps understand the basic concepts of Blockchain. It would help if you quickly understood a strong foundation of data structures.
What is Ethereum?
“Ethereum is a decentralized platform that makes smart contracts viable: it allows programs without the possibility of downtime, censorship, fraud, or third-party interference. The sole platform of running these platforms is only Blockchain, an enormously powerful shared infrastructure that moves value around and represents ownership of property.”
How does Ethereum Mining Work?
At present, Ethereum is using the same Proof-of-Work protocol as bitcoin. However, Ethereum is planning to move over to Proof-of-stake soon, and they are going to use the Casper protocol to make this transition.
So what is Proof of Stake and Proof of Work? A proper relevant question you can ask aspirants whom you’re interviewing. Any Ethereum development team knows how proof-of-work and proof-of-stake works are critical.
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Proof Of Work: A protocol most cryptocurrencies like Ethereum and Bitcoin are following so far. Using dedicated hardware, miners mine cryptocurrencies by solving a crypto puzzle.
Proof Of Stake: It makes the entire mining process virtual. Here you have validators instead of miners. It works in the name of validators, and you first lock up some ether as stake.
This protocol makes the entire mining process virtual. In this system, the role of miners is replaced by validators. You then start validating the block, which means the block is appended to the Blockchain and validating by placing a bet.
It works as a validator, where you first have to lock up some of your ether as a stake. It is followed by validating, which means that if you see any blocks that you think can be appended to the Blockchain, validate by placing a bet on it.
When any block gets appended, you’ll get a reward proportional to that stake for investment.
If, however, your bet appears wrong or bluff, the stake that you have invested will go in vain.
How is Proof of Stake Better than Proof Of Concept?
Lowers the overall energy and monetary cost — Bitcoin miners spend around $50,000 per hour/ electricity. An Ethereum app development company uses the service of “Proof- Of – Stake” you can make the whole process utterly virtual by cutting all the costs.
NO ASIC advantages- Since the whole process is virtual, it wouldn’t depend on better equipment or ASICs (application-specific integrated circuits).
It makes 51 % attack harder- 51% attack happens when a group of miners gains more than 50% of the world’s hashing power. Using a proof of stake negates this attack.
Malicious free validators – Any validator who has their funds locked up in the Blockchain would make sure that no wrong or malicious blocks to the chain since it means the entire stake would vanish.
Block Creation– Makes the creation of new blocks and the entire process faster.
Scalability- It enhances the scalability of Blockchain using a technique called Sharding.
To implement “Proof Of Stake,” Ethereum uses the Casper consensus algorithm. In the beginning, it is going to be a hybrid-style system where a big chunk of transactions executes using proof of work, innovative where the 100th of the transaction will work as a proof of stake.
It enables a real-world test for proof of stake on the Ethereum platform. But also, it is essential to understand Ethereum and the advantages of protocol? Let’s take a look.
There are Few Merits On Which You Need To Pick Ethereum Developers:
How Can You Hire Ethereum developers?
Ethereum ensures that you get the best of a particular crypto standard. To shape your projects, you need to invest in the Ethereum development team for a dream outcome.
You can also integrate the best tools and features in the app; the whole process needs to be streamlined right from the world to recruit the best developers.
There are a few merits based on which you can hire Ethereum developers to support business at various levels:
1. Developers Should Have A Flair For Learning
In evolving technologies like Blockchain, one needs to update to bring more innovation into the development projects. The good thing about Ethereum is its flexible nature. A better understanding of Proof Stake and Proof of Work helps work with various protocols and maintain speed. Synchronization helps in expediting results.
The developer you’re going to hire should be skilled enough and adapt to the change you introduce in working.
2. A Versatile Environment For Development
The ecosystem of Ethereum developers is such that it gives support and versatility as developers have the flexibility for replicating coins and burning them.
A Blockchain developer has to be familiar with maximum changes, and he/she has to be familiar with the mechanism of the coin they are creating. An Ethereum developer must know about the following things:–
- In-depth knowledge & understanding of distributed ledgers and storage
- Sound understanding of cryptography
- Expertise in creating consensus algorithms
- Familiarity with Peer-to-Peer network
- Awareness of data security and risk analysis
Solidity has a vital role to play in Ethereum development, it also gives you many other prospects to look forward to, and there are different challenges you can easily overcome.
3. Meticulous Approach With Troubleshooting
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When someone is working with Ethereum, they should have tricks & techniques on various levels on finding errors & troubleshooting. The blockchain trails and smart contracts make the structure unalterable.
There is no option to debug the platform if the errors make their way through; it helps you build the app or website.
The development process takes place in three phases:
- A simulated environment for testing
- Use of live test network
- First testing on Ethereum network
Since various developers are working, hence bringing more changes to the fore. It gives you more scope for executing changes using limited resources. To generate more traction, getting smart contracts and synchronization of the entire ecosystem works. Also, it allows you to solve issues that occur now and then while the development is going on; it helps optimize various measures which optimize the whole process of development. Besides having an efficient team, you need to secure more resources for betterment.
How To Choose An Ethereum Developer?
In Blockchain-like technology— which is versatile and flexible. You can’t define what is working now will work in the future. So you’re got to have developers to whom FLEXIBILITY and ADAPTABILITY come naturally.
The proper recruitment ensures Ethereum developers are good at coding with the evolving bent of mind. An Ethereum developer should be adept at using the existing ecosystem and make the most of it. They should have the aptness to track the progress of a project without any failure.
The whole process is all about creating an app that supports multiple businesses and makes mining more profitable. Ethereum app development has succeeded in achieving that, and by the rising cost of the token development.
So before you go ahead and start shortlisting Ethereum developers, you should keep the necessary things in mind and answer all questions thoroughly. If you’re interested in hiring ethereum developers, you should have the passion for going with that.
I believe this guide will increase your awareness when you start to hire Blockchain developers—A Final Word Of Advice. Compromise on the quality of developers is a big no as the quality of the Blockchain brings the success of Ethereum app development. Hence, you can hire the cream of talent from leading Blockchain companies like ValueCoders(16 years of experience) with 3+ years of experienced, dedicated Ethereum developers.