From where should you hire smart contract developers? In this article, we’ll cover the essentials of finding experts in smart contract development.
Are you looking to hire smart contract developers from reliable sources? Did you know that studies predict the smart contracts market will grow at a CAGR of 23.5% over the forecast period 2022-2032? It is no surprise that the primary pushing factor behind this is the evolution of the blockchain industry.
Moreover, we will discuss how start-up founders can find the best engineers for smart contract development. Businesses are beginning to see the value of smart contracts. Not only is it a safer method due to encryption, but it also saves the extra cash spent on third parties. As a result, IT leaders want to hire smart contract developers for their companies.
Smart contract development is a hot topic these days. Why do so many companies want to hire smart contract developers? The idea of smart contracts originated in the 1990s. How surprising is that? Now coming to smart contract meaning, it is a self-executed code that carries instructions. The blockchain verifies these instructions.
According to Nick Szabo, a famous researcher of digital contracts, “ smart contract is a set of promises, specified in digital form..” The feature that makes smart contracts highly secure is that they only run after the completion of predetermined conditions. One can term smart contracts as computer protocols that allow digital verification and execution of contracts.
To hire smart contract developers, one should be familiar with the workings of a smart contract and its technical details. Otherwise, it can lead to confusion in the long run. An understanding of the principles of smart contract development helps the startup founder to determine their exact requirements.
The first step of this process is defining the criteria for the smart contract. In this phase, there are two parties, the business team, and the developers. Both collaborate to finalize conditions such as payment authorization, shipment, receipts, etc.
Imagine that an artist concludes the concept of a painting. Now, it’s time for them to do their magic! Similarly, smart contract developers work on a writing platform to test the logic. An expert checks smart contract security.
After smart contract approval, the transaction is recorded on a blockchain. An “oracle” is responsible for event updates on the smart contract. The necessary combination of events from one or two oracles leads to smart contract execution.
How do you hire smart contract developers that benefit your business? Besides knowing about smart contract development, the startup founder and their team should know the advantages of hiring smart contract developers.
Why are organizations desperately looking to hire smart contract developers? You have probably heard of smart contraction transaction encryption. This primary feature protects sensitive data and makes smart contracts much more reliable for businesses. Records connect on a distributed ledger, making hacking impossible.
Sometimes, the involvement of a middleman in a contract can be stressful. There might be security issues as well. With blockchain, there is no need for a third party. Hence, there is no risk of fee payment and time delays.
Due to data encryption, modern cryptocurrencies have become one of the safest items online. Plus, the absence of third parties removes the issue of constantly questioning information.
What is the best feature of smart contracts on blockchain? As soon as all the conditions are met, it executes automatically. Transactions can take months to process and that becomes a source of stress.
There is no need for confirmations and processing. It is a full-proof system. Plus, it is a contrast to the older days of arranging lengthy paperwork. Computerization automatically replaces lengthy documentation.
The worst part about paperwork was the verification phase, it can be a waste of time and resources. Plus, the involved parties can never be sure if its a 100% reliable. Add an extra fee to the mix – it turns into a burden. With smart contracts, all these problems disappear because there are no intermediaries!
Can your organization keep an error-free log of transaction details? It is crucial to have a record of essential details. With paperwork, it becomes rather difficult because of the presence of multiple complexities. Smart contracts allow for the permanent storage of details. Therefore, on occasions of data loss, they are easily retrievable.
Is it possible to hire smart contract developers if you are not well-versed in the developer’s job description? The answer is no. The recruiter should understand the nature of smart contract development so they can craft a list of tasks that fits their company’s vision. Let us discuss some smart contract developer duties.
Should you hire smart contract developers without digging a bit deeper? What is the role of smart contract development in blockchain solutions for businesses? Let’s find out! In this section, we shall cover applications and examples of smart contracts.
Due to the removal of a middleman, smart contracts are ideal for trading. The complete automation of work also rids parties of additional payments. This increases trading opportunities for companies.
Generally, the shipping process can take up a lot of time as well as unnecessary documentation. The usage of smart contracts provides a single source for information storage.
You might’ve heard how disputes are quite common in the insurance sector. Most of the time, there is a lack of proper documentation or communication gaps. With smart contracts, there is a proper execution of policies, terms, etc. According to data, the global market for blockchain in insurance is expected to be $1.39 billion in 2023.
An example of a company that uses Ethereum- based smart contracts is Arbol. What do they do? The answer is Arbol provides weather coverage to enterprises and farmers. Due to the incorporation of smart contracts on the Ethereum blockchain, businesses can safely expand their operations.
One of the biggest advantages of smart contracts in the supply chain is that everyone can track the location of the item. IoT sensors also help to provide updates on the location. If an item is lost, a smart contract can find its whereabouts.
Most of us know that Walmart is a leader in supply chain management. Did you know that Walmart has been using smart contracts to keep track of the sources of its products? Moreover, there is complete automation of invoices and payments.
Coupled with blockchain, smart contracts can simplify data transfer processes. For example, hospitals can utilize smart contracts to transfer DNA data to researchers for clinical purposes. Plus, smart contracts can automate data sharing between institutions.
Why would a gaming company need to hire smart contract developers? The interest in play-to-earn games has grown by 94% since the last year, just imagine. With the use of smart contracts, players can make online transactions more easily.
According to Steve Jobs, Co-Founder of Apple,” You need to have a collaborative hiring process.” Before finalizing candidates for smart contract development, remember to do a background search and involve your tech team in the process.
As a recruiter, you should not miss out on any aspect of the developer hiring process. Remember to question everything before making a decision. With an analytical approach and a well-targeted search, you can get the right results.
No matter if it’s your first employee or 50th, elevate your hiring practices. (entrepreneur.com) Think about outcomes, goals, and growth, and set realistic expectations for your team. A few questions might pop up in your mind, but a better strategy would be to make a list of considerations. Read up on smart contract development companies, go through reviews, and note the pros and cons- never miss out on any details!
Prnewswire.com mentions that the smart contracts market size will reach 354.4 million by 2026. Are you looking to hire smart contract developers that are an optimal balance of professionalism and skills? Then you have to put in the effort and the time, so there is no wastage of money later.
Gone are the days of exhausting your energy on sifting through resumes, and matching skills to your company’s requirements. LinkedIn and Facebook act as social tools for networking, job posting, and finding suitable candidates. Plus, they offer advertisement options and paid campaign options for recruiters if they want to reach a larger audience. Otherwise, you post a job description, and voila! Do not forget – the more specific the roles and responsibilities, the better the results.
According to LinkedIn Recruitment statistics, 60% of candidates use online job boards. Why do you think that is the case? Because online hiring platforms such as Mezino act as a marketplace for the best blockchain experts.
From trading solutions to developing APIs, you can get all kinds of blockchain-related services. Therefore, you will have no issues finding a suitable smart contract programmer who will work according to your company’s vision. With a click and adding a few details, you can get a quote!
” Don’t rush.” This is the number one tip for hiring on business.com. Let’s say you’ve finalized a few smart contract developers. What’s next? It is a sensitive stage- therefore there has to be a lot of thought, deliberation and planning put into this phase. Sit down with your tech team, discuss essential pointers and compile a list of questions to ask. Here are a few questions that can help you before you hire smart contract developers!
“We tend to overestimate the effect of a technology in the short run and underestimate the effect in the long run .” (Roy Amara) Similarly, we are not able to value the potential that smart contracts have to offer. Right now, it might be surprising to hear of such a concept, even confusing to some. However, there is much to explore when it comes to smart contract development and its applications. Hence, the demand to hire smart contract developers will only increase in the years to come.
Where can I get a smart contract developer?
To hire smart contract developers, there are several options to choose from. Firstly, social media platforms such as Github, Facebook, and LinkedIn can be useful in smart contract developers for small to medium-sized businesses.
However, if your company has more specific needs or is looking to outsource a team of smart contract developers, then online job boards such as Mezino are a perfect choice. Not only do they offer more security but the hiring process is much more reliable and organized. All you have to do to fill in the online form and wait for the results!
How do I find a contract developer?
Hiring smart contract developers involves a planned and organized approach rather than haphazard decision-making. Never hire a candidate in a hurry. For remote developers, websites also recommend considering individuals with unique resumes and strong communication skills.
Research: Never miss out on any detail, look into website details, and analyze smart contract developer profiles with a critical approach. Try to collect information from website reviews, ratings, and customer experiences. Another way would be to look at smart contract developer job descriptions posted by other companies.
Choose a suitable channel: Remember to check what channel suits you the most. As a recruiter who wants to hire smart developers through a more reliable method, online hiring platforms are the answer to your question. They offer more security, a pool of experts, and a safe payment option.
Short-listing: After searching through 4 to 5 job boards that fit your company goals, it’s time to jot down the names of smart contract developers who match your job description. Be careful, and thoroughly check their resumes, portfolios, and recommendations.
Interviewing and follow-ups: Make a questionnaire after a detailed discussion with your team, and be very honest in your interview. The candidate should have sufficient technical knowledge as well as know the importance of exhibiting certain soft skills. Go for the one who ticks the most boxes on your questionnaire.
Can anyone make a smart contract?
It would be an overestimation to say that anyone can make a smart contract. However with the right training, education, and practice, one can develop these skills. The first step is to learn coding in a smart contract language such as Solidity programming language or Rust.
How much does it cost to hire a smart contract developer?
It depends on the type of smart contract developers you’re hiring. Freelance smart contract developers can charge between 85 to 100 dollars per hour. Hiring smart contract programmers can cost between eight thousand to more than twelve thousand dollars depending on the seniority of the smart contract programmer.
Which platform is best for smart contracts?
Ethereum has been around since 2015, it is still one of the most popular languages for smart contract programmers today.