Solana

Kevin

Bitcoin

when

The Solana memecoin mania that began in the first half of 2024 has contributed to an increase in demand for Rust engineers, according to the chief executive at a cryptocurrency jobs board.
It’s likely been driven by the “Solana memecoin frenzy, where Rust is the primary programming language,” Raman Shalupau, CEO and founder of CryptoJobsList told Cointelegraph, adding:
<blockquote data-ct-non-breakable="true">
 “It's also driven by the broader tech trend, where Rust is becoming a popular systems programming language, and many blockchain companies are adopting it for writing performant distributed systems.”
</blockquote>
<a href="https://www.coingecko.com/en/categories/solana-meme-coins" target="_blank" rel="noopener nofollow">Solana</a> memecoins currently boast a combined market cap of $6.28 billion — significantly larger than Ethereum layer 2 <a href="https://www.coingecko.com/en/categories/base-meme-coins" target="_blank" rel="noopener nofollow">Base’s</a> $1.2 billion memecoin market cap, CoinGecko data shows. 
Rust started to <a href="https://cointelegraph.com/news/vyper-solidity-and-scrypto-how-the-smart-contract-languages-compare">take some attention</a> away from Ethereum’s Solidity as a programming language to write <a href="https://cointelegraph.com/learn/what-are-smart-contracts-a-beginners-guide-to-automated-agreements">smart contracts</a> since the Solana blockchain launched in March 2020.
CryptoJobsList’s website <a href="https://cryptojobslist.com/solidity" target="_blank" rel="noopener nofollow">shows</a> 99 Rust developer roles are vacant, compared to 45 for Solidity.
“We saw 32 Rust programming language related jobs in the last 3 months alone,” Shalupau noted.
The rise in Rust roles has contributed to a 12-month record 564 crypto jobs <a href="https://cryptojobslist.com/trends" target="_blank" rel="noopener nofollow">posted</a> on CryptoJobsList in July — marking a 109% increase from the previous month.
<figure>
 <img src="https://s3.cointelegraph.com/uploads/2024-08/9149585a-8cb2-43a6-a2c1-242abe51681a.png" alt="Solana ‘memecoin frenzy’ prompts uptick in Rust dev demand">
 <figcaption style="text-align: center;">
 CryptoJobsList’s monthly crypto job postings since August, 2023. Source: CryptoJobsList
 </figcaption>
</figure>
Kevin Gibson, founder of cryptocurrency recruitment firm Proof of Search, said he has also seen more demand for Rust engineers and developers:
<blockquote data-ct-non-breakable="true">
 “We are seeing a lot more demand for Senior Full Stack developers with experience in Rust, Python and Ruby on Rails as well as Senior Engineers who have the ability to step into a hands on CTO role.”
</blockquote>
Gibson believes “FOMO” (Fear of Missing Out) hiring will kick off when Bitcoin hits $100,000.
Related: <a href="https://cointelegraph.com/news/binance-coinbase-gemini-staff-among-least-happy-glassdoor">Binance, Coinbase and Gemini staff are among the least happy, data suggests</a>
Those who have held their positions throughout <a href="https://cointelegraph.com/news/2022-bear-market-has-been-the-worst-on-record-glassnode">the bear market</a> will have multiple offers between 30-50% higher than their <a href="https://cointelegraph.com/news/crypto-bull-run-job-listings-salary-careers">current salaries</a> as budgets are still very tight, Gibson noted.
CryptoJobsList’s salary data <a href="https://cryptojobslist.com/salaries" target="_blank" rel="noopener nofollow">shows</a> the <a href="https://cointelegraph.com/news/women-make-more-money-than-men-in-crypto-pantera-capital">average cryptocurrency employee</a> is making $88,000, while those in the top 10% percentile are making $165,000.
Meanwhile CryptoRecruit’s founder Neil Dundon told Cointelegraph his firm has seen slightly less demand for developer roles but an uptick in sales-related roles.
<blockquote data-ct-non-breakable="true">
 “This is still a competitive market for jobs right now but it’s very reassuring to see how sticky web3 candidates are. They really want to work in this exciting space.”
</blockquote>
Magazine: <a href="https://cointelegraph.com/magazine/5-risks-apeing-new-solana-memecoins/">5 dangers to beware when apeing into Solana memecoins</a>

Solana ‘memecoin frenzy’ prompts uptick in Rust dev demand

Cointelegraph

Other articles published on Aug 7, 2024

The Beginner’s Guide to Token Swaps: Beyond the Basics

5 Things To Know In Investing This Week: The Trump Bitcoin Issue

Binance Celebrates One Million YouTube Subscribers

Strategies for Crypto Growth: Liquidity Management of the Best Crypto Presale of August 2024, alo...

EXCLUSIVE: What Tim Walz, Kamala Harris's New VP Pick, Could Mean For The Crypto Industry

Giliran Putra Donald Trump Mengaku Menyukai Kripto, Demi Politik Semata?

Join our free newsletter for daily crypto updates!