Solana Meme Coin Fever Makes Rust Developer's Request Rise Drastically

The fever of Solana's meme coin makes Rust developer demand increase dramatically (Photo; Doc. The Block)

JAKARTA - Since the first half of 2024, the meme coin fever has sparked a significant surge in demand for developers who master Rust's programming language. Rust, which is the main language in development on the Solana blockchain, is now increasingly in demand by crypto companies that build highly-performance distributed systems.

This phenomenon not only reflects the popularity of the meme coin in Solana, but also shows a broader trend of technology where Rust is increasingly popular as the language of system programming. With the combined market capitalization of meme coins in Solana reaching billions of dollars, demand for Rust developers continues to increase, creating great opportunities for professionals in the industry.

Quoted from Cointelegraph, Raman Maripau, CEO and founder of CryptoJobsList, revealed that this trend is not only driven by the popularity of meme coins in Solana, but also by a broader tech trend where Rust is increasingly popular as a programming language of the system. Many blockchain companies are starting to adopt Rust to write highly-performed distributed systems, he said.

Currently, the combined market capitalization of the meme coin in Solana has reached 6.28 billion US Dollars (approximately Rp100 trillion), much larger than the market capitalization of meme coins at Ethereum Layer 2 Base which is only 1.2 billion US Dollars (approximately Rp19 trillion), according to data from CoinGecko.

Since the launch of the Solana blockchain in March 2020, Rust has started to attract attention from the Ethereum programming language, Solidity, in smart contract development. On the CryptoJobsList website, there are 99 vacancies for Rust developers, compared to 45 vacancies for Solidity developers.

"We see 32 work related to Rust programming language posted in the last three months alone," added Rust. This increase in Rust's role also contributed to a record high in the last 12 months, with 564 crypto job vacancies posted on CryptoJobsList in July "an increase of 109% from the previous month."

Kevin Gibson, founder of the Proof of Search crypto recruitment company, also observed an increase in demand for Rust developer and full-stack senior developer with experience at Rust, Python, and Ruby on Rails. Gibson believes that recruitment with the FOMO' (Fear of Missing Out) pattern will increase when the price of Bitcoin reaches 100.000 US Dollars (approximately IDR 1.6 billion).

With further interest in Rust among blockchain companies, this language-speaking developer has a great opportunity to get a job with a higher salary offer. Data from CryptoJobsList shows that the average employee in the crypto industry earns a salary of 88,000 US Dollars (around Rp1.4 billion), while those at the top 10% percentile earn up to 165,000 US Dollars (approximately Rp2.6 billion).