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Bitaccess | Toronto, Canada | $75k - $108k | |||
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This job is closed
We are looking for a software engineer with a passion for decentralized technologies to join our blockchain wallet team. Your role is to integrate additional cryptocurrencies into our payment backend and contribute to launching a new enterprise wallet product. You'll be working directly with cutting edge blockchain networks, including Bitcoin and Ethereum.
Why Bitaccess?
We’re looking for people who are excited about financial services and cutting edge technology, and how these together can make a difference in people’s everyday lives.
Cryptocurrency is a transformative technology that will require a re-engineering of the way business as we know it is done. Bitaccess is proud to be a pioneer in this space, and are looking for outstanding individuals to join us on this journey.
So if you are ready to join the most fast paced, exciting, and hectic industry of our generation apply now.
Responsibilities
- Contribute to and maintain our blockchain payment services
- Help us launch a new enterprise wallet product
- Integrate support for additional cryptocurrencies and layer 2 protocols for Bitcoin, Ethereum, and more
- Experience with NodeJS and TypeScript
- Experience with web services such as REST and websockets
- Experience with SQL databases
- Familiar working in a Linux or Unix environment
- Knowledge of cybersecurity and blockchain technology
Good to have
- Being passionate about decentralization
- Interest and knowledge in cryptoeconomics.
- Experience contributing or managing open source projects.
- Experience setting up and maintaining cloud servers
- Extended Healthcare Plan (Medical, Disability, Dental & Vision)
- Group Life - AD&D - Critical Illness Insurance
- Paid Time Off Benefits
- Work From Home - Flexible hours
- Stock Option Plan
- RRSP Contributions
- Discretionary Bonus
What is the meaning of Layer 2?
Layer 2 in the context of cryptocurrency and blockchain technology refers to a secondary framework or protocol that is built on top of an existing blockchain system (the main chain or Layer 1)
The primary purpose of Layer 2 solutions is to solve the scalability and speed issues that many blockchains face, especially those that have become popular and heavily used, like Ethereum
Here are the key aspects of Layer 2 solutions:
- Scalability Enhancement: They help in scaling the main blockchain by handling transactions off the main chain. This reduces the burden on the main chain, allowing for faster and cheaper transactions.
- Types of Layer 2 Solutions: There are various forms of Layer 2 solutions, including state channels, sidechains, plasma chains, and rollups. Each has its own mechanism for interacting with the main chain and handling transactions.
- State Channels: These involve two parties engaging in numerous transactions outside of the main chain, which are then consolidated into a single transaction. This is especially useful for situations where multiple transactions occur between the same parties.
- Sidechains: These are separate blockchains that are connected to the main chain via a two-way peg. They operate independently and can have their own consensus mechanisms but are secured by the main chain.
- Plasma Chains: Plasma chains are similar to sidechains but with a more hierarchical structure. They report back to the main chain regularly and are optimized for mass transaction handling.
- Rollups: Rollups process and store transaction data on a sidechain but post transaction data to the main chain. They come in two varieties: optimistic rollups and zk-rollups, each with its own method of transaction verification.
- Security Considerations: While Layer 2 solutions are generally secure, they can have different security models compared to the main chain. This is an important consideration for users and developers.
- Impact on User Experience: For end-users, Layer 2 solutions can greatly improve the experience by reducing transaction fees and increasing transaction speeds.
- Adoption and Development: Many blockchain projects are actively developing Layer 2 solutions to enhance their networks. This is an ongoing area of innovation in the blockchain space.