7 Pros and Cons of Being a Smart Contract Developer

Smart contracts require experts with blockchain knowledge for the creation and deployment. If you find these tasks exciting, consider becoming a smart contract dev!

I’m working in this role. And trust me, it will be as cool as you think. But there are also other things to expect. So if you are serious about this career path, check my guide to learn the advantages and disadvantages of being a smart contract developer.

Who Is A Smart Contract Developer?

Smart contracts are self-executing programs built on the blockchain platform. They automate the actions asked in a contract or agreement. And when done, those transactions are irreversible and trackable.

A smart contract developer is the one who creates, deploys, and maintains smart contracts. Thus, they must grasp blockchain fundamentals. Programming languages used in this technology, like Clarity and Solidity, are necessary, too.

So, there are three main tasks for a smart contract developer: build, implement, and maintain smart contracts. Sometimes, they also integrate the contracts into decentralized apps (DApps).

Smart contract developer

And that’s what I do as a smart contract developer. To be honest, those tasks are not really complicated, but they challenge me a lot.

If you intend to follow this career path, you must do many things. Before starting your learning curve, let me tell you about the pros and cons of this role.

This job keeps me excited most of the time. I like to work in the blockchain industry because of the high salary and demand. I can also develop my skills while working.

1. PRO: Good Pay

Let’s talk about one of the most important things to consider when looking for a job: salary. If it’s your top concern, then this job won’t disappoint you.

I have good pay when working as a smart contract developer. I have also researched numerous job sites, and job openings for smart contract devs are numerous there. The average salary is around $138,515 per year (in 2023).

Smart contracts are the backbone of dApps and many blockchain platforms. So, the contract developers are important, too.

Moreover, salaries may vary based on location and experience. Thus, $138,515 may not be your rate. You should still aim for it or even higher. As long as you are a skilled smart contract developer, and your boss doesn’t mind paying well.

2. PRO: High Demand

The potential for this job is huge, too! I’m talking about blockchain development and how you can use it to land an ideal job.

Let me explain the high demand for blockchain and smart contracts! As I have said above, smart contracts can automate a set of actions. This way, businesses can streamline their process because they don’t need intermediaries.

Furthermore, blockchain technology can help secure sensitive data. Thus, companies need it to set up databases in their apps.

Last but not least, blockchain platforms are now everywhere. I can use it no matter where I am, and I don’t need a single company to control it.

All the reasons above increase job opportunities for blockchain learners. And you, as a future smart contract developer, will indeed have many job opportunities.

3. PRO: Growing Industry

Speaking of growth, blockchain technology is now available in many industries. It’s growing super fast, and I have to be right at the forefront to handle it.

Regarding smart contracts, they aim to automate agreements without needing middlemen. This way, they are gradually shaping the technology.

So, working as a smart contract developer gives you many chances to try new things. You will love your job because it allows you to work with advancements.

4. PRO: Constant Skill Improvement

This job requires many skills. For example, you must be proficient in programming, computer, and blockchain fundamentals. But that’s not all!

Even when you’ve become a smart contract developer, you have to keep learning. It keeps things interesting, as you can upgrade yourself every day.

You can improve yourself day by day

Aside from the four pros above, you have three significant challenges. And here they are:

5. CON: Security Concerns

The first thing to deal with is security. I have run into reentrancy attacks many times. Once they happen, I have to spend hours cleaning the chaos behind.

Then there’s front-running. I must ensure my transitions don’t get manipulated by hackers. And this task is tricky, too.

There are many other security concerns to cover. But that’s why my company needs me. Once I’ve solved any problem, I feel really motivated to face the rest.

6. CON: Rapidly Evolving Tech

Blockchain is quite a new technology, and it’s developing too fast. It means I have to update the latest trends daily. This way, I can ensure my solutions are reliable and up-to-date.

7. CON: Complex Blockchain Technology

Even so, blockchain is still a tricky puzzle. If you are new, you may feel discouraged sometimes.

When working smart contracts, you will encounter other challenges. For example, you must ensure your code addresses the contract terms. And if there are loopholes in the code, your contracts may break down.

The only solution here is to hone your skills. Besides, pay attention to detail as you build the smart contracts.

You will also have hard time

Should You Become A Smart Contract Developer?

It depends on you. Do you love blockchain and exploring new technologies? Can you pay attention to detail? If yes, then this career may be right for you.

Everyone has their own strengths and weaknesses. So, consider your ability and interest. Then, you can tell if being a smart contract developer is a good path.

Final Thoughts

Good pay, high demand, and constant learning are significant parts of being a smart contract developer. You can also have a chance to explore new technologies.

However, while enjoying those benefits, you must deal with security concerns. This fast-growing industry also requires you to keep learning. But if you are ready for all the obstacles, you can soon become a good developer!