Finding reliable recommendations is just the first step in hiring the talented professionals you need to move your business forward. When you are planning to hire top Ethereum Smart Contract developers, you need to be fully prepared.
What are Ethereum Smart Contract Developers and What Do They Do?
A “smart contract” is one program that runs on the Ethereum blockchain. It creates instructions for users to hold a balance and make transactions on the designated network. When you hire Ethereum Smart Contract developers, you are bringing programming experts into your organization. Whether you hire a team or an individual, you can expect professionals with strong skills in logic and programming, as well as experience with Ethereum transactions and smart contract development.
How To Hire Ethereum Smart Contract Developers?
These professionals are available on a full-time, part-time, or hourly basis. You may hire expert developers as freelance workers which adds extra flexibility. Freelance workers are often more affordable; as remote workers, these developers don’t have a lot of overhead expenses. This business relationship also frees you from the responsibility of providing health care and similar benefits.
Freelancers are often available on an as-needed basis and are motivated to complete tasks quickly and reliably. Reaching out to individuals working on a remote, freelance basis also allows you to connect with talent from around the world, so you can access the expertise of skilled smart contract developers no matter how far from your business they are located.
Which Skills Should You Look for in a Developer?
Ethereum is a popular blockchain network used by businesses of all shapes and sizes from many industries. Ethereum blockchain networks are found in the programming used by Fortune 500 companies and small businesses around the world. The best Ethereum Smart Contract developers must show a variety of skills:
- Thorough understanding of smart contracts, consensus algorithms, and the current market, as well as your business requirement
- Fluency in cryptography and its subsets, such as public and private key encryption, hash functions, and elliptic curve encryption
- Excellent use of binary code, chain code, Viper, Solidity, and similar languages
- Strong familiarity and ability to use Python, JavaScript, Java, C++, Ruby, and Go
- Good grasp of front-end and back-end development with experience in request handling, API handling, and the creation of decentralized apps
How Much does It Cost to Hire Ethereum Smart Contract Developers?
As more corporations and small businesses hire their carefully selected team of developers, you will naturally need to pay attention to the market. At the low end, rates for Ethereum Smart Contract developers range from $25 an hour to $45 an hour, but for professionals with a strong background, you could pay much more. Some developers base their rates on a project basis, with one smart contract costing more than $500. Some remote Ethereum Smart Contract developers expect to earn close to $80,000 a year, and freelance blockchain developers may expect anywhere from $61 an hour to $100 an hour. You must find a developer with superior credentials who is a good match for your company goals.
How Will Ethereum Smart Contract Developers Help Your Business?
As per Pablo Cibraro, Agilesight Co-founder's definition: “A Smart Contract is a short program that can be deployed and run on a blockchain. It reacts to transactions sent to it by executing code, and it can also hold state and funds/tokens (Ether) on the ledger.”
Ethereum is projected to be stronger in the coming years than Bitcoin, sidechains, and other cryptocurrencies. If you haven’t chosen to hire Ethereum Smart Contract developers in the past, now is the time to include them in your business:
- There is a potential for a reduction in operational costs.
- Your business can see increased transparency of transactions.
- Blockchain technology leads to improvements in the identity management system.
- It becomes easier to improve your supply chain management.
- Smart contracts reduce the risk of fraud and improve security for sensitive data.
- Ethereum smart contracts increase customer satisfaction and retention rates.
- Business proceeds faster with increased efficiency.
Choosing the Right Ethereum Smart Contract Developer
Hiring the right developer for your team means finding the team or individual with the right skills, a certain level of experience, and enough expertise to overcome complications. You also need a developer who can work closely with your company. Of course, many developers are hoping to find a position with your business, so how can you tell which developer will be best for the job?
- Understand the type of developer you need: full blockchain, Ethereum only, or overall front-end, back-end, and blockchain
- Come up with valuable interview questions with a focus on open-ended questions that demonstrate their ability to resolve problems that arise in programming. Include questions that give you an idea of how they will fit within your company culture.
- Research potential candidates. This means looking beyond those individuals who respond to your job listing. Read through candidates on social media platforms and freelance developer sites.
- Don’t rush into hiring a developer if you aren’t sure they are a good fit. Take your time reviewing portfolios and reaching out to past employers. Ask for references and then find out how candidates responded to complications, time constraints, and other co-workers.
- Assign smaller tasks to developers at first to learn more about their ability to complete the projects you have in mind.
When Can You Trust a Source of Freelance Ethereum Smart Contract Developers?
There are an overwhelming number of sites that show up when you run a search for high-quality developers. How can you determine which are reliable sources of information?
- Check out the main goals of the website creators. Look for objectivity in the information being presented. For example, a blog post about the dangers of natural gas on the website of a coal company should trigger concerns.
- When seeking a site to hire Ethereum Smart Contract developers, look for information that can be verified by other sources.
- Reach out to peers with similar needs and find out what their experiences with various websites have been. You could also run a search on the URL address in quotation marks to find additional feedback.
- After thoroughly vetting the contact sites for the top developers and programmers, use the same careful consideration to choose your candidates:
- Reach out to past employers and ask for references.
- Ask employees for referrals.
- Review previous projects.
- Look for evidence of specific skills in past work, especially when it comes to the challenges of the projects you want to be completed.
- Ask open-ended questions.
Ultimately, your business will be affected by the quality of work performed by the candidates you hire. Refer to our list of recommended sites to locate and hire Ethereum Smart Contract developers who are a great match for your company.
Hiring Ethereum Smart Contract developers - FAQ
- How Much Does It Cost To Hire an Ethereum Smart Contract Developer?
Ethereum smart contract developers in the U.S. who use the Solidity programming language earn an average of $162,127 yearly, or $78 hourly. Annual compensation ranges from $110,000 to $193,000, based on years of experience, project complexity, location and skill levels.
- How Do I Hire Ethereum Smart Contract Developers?
You must establish your project parameters before you can begin building your team. Determine your:
- Budget
- Timeframe
- Nature, scope and goals
- Number of team members and their required skills
- Sourcing and hiring strategies
Are you modifying an existing system or developing a new one? Do you need someone to maintain your system regularly? Do you prefer hiring freelancers or employees? Are you qualified to assess a developer’s technical skills?
Our top sites list highlights the best sourcing options. Consider using a site like Toptal that pre-vets candidates and matches suitable candidates with your needs.
- Are Ethereum Smart Contract Developers in Demand?
2022 saw exponential growth for Ethereum smart contracts, with overall deployment figures for the year growing by 293% and a fourth-quarter growth rate reaching 453%. As more businesses, organizations and individuals begin utilizing smart contracts, the need for skilled developers continues to rise.
- Why Should You Hire an Ethereum Smart Contract Developer?
Smart contracts are small programs containing instructions that reside on blockchains. When certain criteria are met, the instructions automatically activate.
For example, a sensor placed on a shipment will utilize GPS awareness and initiate payment via the smart contract when it reaches its destination without human involvement. Other smart contract uses include:
- Gaming
- Clinical trials
- Mortgages and property ownership
- Retail
- Identity verification
Since Ethereum’s launch in 2015, over 44 million smart contracts have been deployed. Hire an Ethereum smart contract developer to benefit from this technology.