Crypto hiring is on pace to outgrow the larger finance industry in 2022. But with blockchain engineers in high demand, companies are finding that traditional hiring methods miss the mark in finding the top talent they’re looking for.
2021 saw a 395% surge in web3 job postings, according to a study conducted by LinkedIn and published earlier this year. But new tech requires new skills. As Patrick O’Grady, VP of Engineering at Avalabs discovered, “A lot of our work is pretty technical and complicated so it’s hard for us to scale up with traditional hiring techniques and web 2.0 engineers.” With blockchain’s continued expansion, web3 teams are seeking to evaluate and hire engineers with proven web3 skills, rather than relying on traditional coding challenges or resumes.
So how are those skills proven? Coding challenges are a common way companies have evaluated engineers in the past, but this technique is becoming outdated as engineering becomes more complex. O’Grady mentions, “In general, coding-related questions are not a very good indicator of how good someone actually is as an engineer… People could score 20% or 80% and you still have no idea how good of an engineer they actually are."
So how does a web3 company scale? Hiring the foundational and supporting teams to build the product has to start somewhere, “Our CEO is a professor at Cornell and his co-founders were his PhD students, and most of our great hires have come through referrals from our CEO.” However, referrals bring their own set of challenges.
Referral hiring, particularly in tech, has become a common technique, with some companies in Silicon Valley boasting up to 70% of hires coming directly from referrals. But relying on your existing team to refer new candidates increases bias and carbon-copy teams, leaving untraditional candidates out of the equation and building “culture-fit”, instead of focusing on culture-add.
What does that mean? Referral hiring can directly conflict with another incredibly important hiring consideration for many companies: diversity. With so many companies investing time and resources in referral hiring, we miss out on fresh ideas, new perspectives, and different backgrounds of all kinds. If companies want to hire great web3 engineers and build the workforce of the future, they need to find ways to uncover untapped talent while releasing hiring bias.
So that begs the question: why do companies do this? It’s simple—they want to hire great engineers, but finding true signal on candidate skill is difficult, especially for relatively new technologies.
Triplebyte Screen is proven to be 2-3 times more effective in finding signal than resume screening. O’Grady tells us,
“With Triplebyte, if people scored high four to five, they were pretty good regardless of what the resume said... It's the more complicated multiple choice questions that get people. It seems that if they can answer those questions, they have no problem coding whatsoever. We’re using the Triplebyte Screen assessment in about 90% of our interviews now.”
Hiring with your specific needs in mind
Web3 companies know that they’re building the future, and they want to hire like it. The nature of a decentralized universe is more complex than traditional engineering environments, having to account for smart contracts and the waterfall of activity by hundreds, or even thousands, of ecosystem participants.
Much of the initial interest in implementing blockchain systems has focused on creating cryptocurrency in the form of Bitcoin and later Ethereum. This is where Solidity comes in.
Triplebyte Screen’s new Solidity Quiz
Ethereum accounts and smart contracts are designed, created, and maintained by hundreds or even thousands of global ecosystem participants, and the entity they interact in is called the Ethereum Virtual Machine (EVM). EVM defines the framework in which EVM compatible cryptocurrencies, decentralized apps (dapps), and NFTs exist. Solidity is the code base that enables the creation of EVM compatible cryptocurrencies, dapps, especially DeFi applications and Non-fungible tokens (NFTs), through smart contracts.
Around 30% of all web3 developers are developing on EVM compatible blockchains, and new primary developers developing on EVM compatible blockchains has increased by 58% since January 2021. What does all of this mean? EVM is booming, and companies want to hire engineers with specific knowledge in Solidity.
Triplebyte’s new Solidity quiz covers Ethereum´s Solidity programming language, an object-oriented, high-level language for implementing smart contracts. The skills assessed in this quiz include knowledge of Solidity syntax and core concepts, security aspects of Solidity smart contracts, and the most important libraries and protocols in Solidity, as well as other EVM compatible blockchains and Ethereum Layer 2 solutions.
Triplebyte Screen’s new Blockchain Architecture Quiz
The larger blockchain ecosystem is a complex web on its own, and hiring engineers with skills in designing and testing such a complicated decentralized system is considered integral. While EVM runs as the “transactional Layer” of Ethereum’s architecture, blockchain architecture exists as a larger entity, encapsulating the entire process of blockchain. It is independent of and can be applied to any single language or environment. It is the framework in which blockchain exists.
For example, EVM runs “as one single entity maintained by thousands of connected computers running an Ethereum client,” meaning tens of thousands of users around the world are running the blockchain software simultaneously, executing smart contracts in a cascading process. This type of decentralized design and pseudo-concurrent code execution environment is hard to design and test effectively in a static environment. Herein lies the precise reason that the web3 environment can be challenging: it’s difficult to design and test in a static environment.
Triplebyte’s new Blockchain Architecture quiz identifies and evaluates a candidate’s understanding of blockchain architecture, design, development, and implementation of a decentralized computer as it is updated and validated by countless ecosystem participants all working toward similar goals.
Web3 is the future, teams want to hire like it
Small startups and tech giants alike are hiring web3 engineers with great speed. In early 2022, MarketWatch pointed to crypto openings at companies like Meta, Twitter, Amazon, JP Morgan, and Fidelity, just to name a few. With such a booming market and desire for top web3 talent, Triplebyte Screen is helping companies to calibrate talent on a global scale. Not only that, the assessments are predictive of success because they’re trained on real hiring outcomes. Outdated coding assessments and resume screens can’t do that. O’Grady tells us, “We are in the midst of an uptick in hiring right now. We're sending everyone a 25 minute Screen from Triplebyte.”
Triplebyte helps engineers find great jobs by assessing their abilities, not by relying on the prestige of their resume credentials. Take our 30 minute multiple-choice coding quiz to connect with your next big opportunity and join our community of 200,000+ engineers.