Web3 has become a huge topic of interest, as its development status continuous to grow with the passage of time. Each day, new firms, new applications and new opportunities are being born with respect to Web3, making it quite an attractive field to pursue for the coming times. There are quite several ways you can get into the world of Web3 and learn about its working.
The concept behind Web3 is still considered to be new, mainly because its development has spiked in very recent time. Many of the latest business models have been striving to evolve from the current Web2 standards, as they are looking for fresh and unique ways of gaining the most potential out of the data that is associated with users around the world.
More and more companies and researchers have started to develop more graspable and portable applications on the web by focusing on crowdsourcing for their development strategies. Because of this, a substantial number of companies are now looking to hire Web3 developers, brining an increased overall exposure for the cryptocurrency space.
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This guide is targeting towards audiences like you who are interested in getting into the Web3 space, so let’s move towards understanding the basics first, so that the motive is clear.
Describing Web3 Development
Due to the rapidly increasing level of development of technology, the world we knew decades back has completely evolved into a new beast altogether.
Back in the day, designing a computer was intended towards solving trivial tasks like simple mathematical calculations in a much faster way, however as of today, with business involved in web, technologies such as the blockchain have been developed, not only to handle user transactions, but also give power to decentralized applications.
Since decentralized finance is mostly associated with digital currencies like cryptocurrencies, hence the individuals taking part in the development of the sector are supported through crypto-base tokens, keeping them motivated towards the evolution of the web through their hard work.
Web3 developers are mostly referred to as individuals that have expertise in handling solutions related to math, computer science and blockchain technology, while also focusing on how this technology can be used to make digital assets safe. Not only that, but they are also aware of how other fields operate that include banks, real estate and many others that are associated with finance.
In order to understand the complications of modern blockchain technology, an individual must be determined to find solutions, have a clear and creative mind and must have an excellent grasp on both the basic and technical concepts surrounding it.
With that in mind, we will now proceed to learn about how Web3 can be recognized through its main features and functionalities.
Primary features of Web3
There are many features in conjunction to Web3, however we will only focus on the important ones. Below mentioned features go as follows:
Because Web3 utilizes the power of blockchain technology, its complete system follows the idea of a decentralized space. The solutions developed inside of a Web3 space have complete decentralization, helping them to gain attributes such as solid security, data validation and transparency.
- Semantic Web
This concept basically refers to the idea of enabling data from the internet to be analyzed by a machine. Its main goal is to improve the connection between a variety of chains, solutions and firms, helping the system to easily transfer data around without any hiccups.
- Superior Interoperability
One of the problems plaguing systems powered by Web2 is the level of connectivity. Taking the concept of Semantic Web into consideration, Web3 can solve the problem through its superior level of interoperability, giving users the power to share and receive data around in a smooth manner.
Also, through the development of unique hardware devices, Web3 also seeks to make the internet accessible to anywhere.
These three features carry the fundamental concepts of Web3. Now we must look at the applications that can take advantage of Web3.
Applications of Web3
Below mentioned are some of the real-life applications associated with Web3.
- Digital Spaces like the Metaverse
These are basically virtual spaces that can be explored using virtual reality devices. Individuals can create avatars, chat, interact and trade with each other in the digital world.
- Decentralized Applications (dApps)
These types of applications are powered by the likes of blockchain technology and cannot be governed by a single entity. Web3 will not only provide them with more functionality, but will also increase their level of interoperability, letting them connect different chains.
- Decentralized Finance (DeFi)
DeFi takes advantage of Web3 to not only advance its own fundamentals, but also the functionalities and opportunities it brings. DeFi can be used to develop unique and powerful solutions that follow the concept of decentralization, especially when it comes to finance, where transaction pace and charges are important.
- Next-Level Gaming
Bringing NFTs and play-to-earn aspects onto existing video games concepts can create a new level of in-game economy where players are able to trade digital items carrying certain values.
- Data Security and Management
Due to the nature of blockchain technology, it has become the primary choice for many platforms and companies to secure their data. And because a blockchain is technically un-hackable, it becomes quite an attractive option for many eyes.
- Digital Real-Estate
With the development of digital spaces like Metaverse, individuals can buy digital land provided by the source like META, developing a completely new level of economy. Additionally, investors can also gain the option to buy real land through cryptocurrencies, giving them a flexible option that has minimal fee and does not require any bank.
- Non-Fungible Tokens (NFTs)
In the recent years, NFTs have gained popularity like no other application. Talented artists can utilize their excellent art skills to create digital items having unique identity and selling them on platforms, giving them a value.
There are many variations of NFTs that include static images, animated images, videos, logos, music albums and exclusive time limited items which individuals can acquire and trade around, helping the artists to gain out of their hard work.
Where to Start?
Now comes the main part of this guide in which you will get to know how you can start getting familiar with Web3. Here are the best ways you can learn about Web3 and how you can become a developer yourself depending upon your level of interest.
- Keep up with crypto brains on social media
As a starter, you should look out for experienced individuals and companies that are related to crypt and blockchain technology on social media and keep up with them to learn about their new endeavors.
For example, founder of Cardano, Charles Hoskinson is always active on platforms like Twitter and YouTube, sharing his thoughts and directions on the Cardano blockchain, providing vital information and wisdom to those interested in its development.
- Stay updated with the latest news
This is basically an extension to the previous section. Web3 beginners are encouraged to keep track of the space through email newsletters or watching popular channels on YouTube, so that can gain the correct knowledge on how cryptocurrencies and blockchain technology operates.
Not only are these types of sources available anywhere around the world, but the best thing is that they have no charges involved.
- Seek out crypto-based Discord servers
Discord is a seriously impressive platform that helps to bring large communities together. There are thousand of individuals willing to help each other out and learn about the trends and works of crypto and blockchain together. Not only that, but individuals are also notified of important events and trends through certain automated channels linked with the Discord servers.
- Apply for work in a Web3 DAO
Decentralized Autonomous Organizations (DAOs) are also an excellent way of learning Web3 development. They provide a chance to learn Web3 development and are also associated with huge names in the sector, giving individuals opportunities to rise to the stars.
Practicing is the best way to get around, so they also have their own Discord servers in which individuals can seek out problems and try to find the best solution possible, promoting a sense of teamwork.
- Give time to Web3 related courses
Seeking proper guidance from experienced teachers and instructors through courses that either have no cost or are paid is another excellent way of getting a good grasp on Web3. There are many private institutions which provide courses related to blockchain and Web3 that can help you in understanding the core components of developing decentralized solutions.
Additionally, artists looking for a good income source can utilize their skills in art to create pieces like NFTs. Artists can learn how create digital art and then sell them on popular platforms such as OpenSea through the course lectures they attend.
With this level of flexibility, it is basically up to the preference of the individual, whether they would like to learn and work comfortably in their homes or go to institutions. Ideally as comforting as it may be, working from home does not provide the level of productivity compared to a proper institution where the environment is built to focus on learning.
- Take part in Web3 Events
As of now, with the huge rise in popularity of blockchain technology, there are thousands of events that are hosted around the world, providing individuals the chance to seek new opportunities and compete.
In terms of competing, there are events called as Hackathons in which programmers and researchers come together to complete and produce the best solution, however the thing to note is that you do not have to have a high experience level to take part.
The main motive behind these events is to bring both fresh and experienced individuals together and provide them with an opportunity to learn and produce solutions.
Likewise, there are also many interesting conferences that can be attended to gain additional knowledge and wisdom. Conferences are usually host to a lot of popular and experienced individuals, so it is a golden opportunity for individuals to seek more knowledge and clarity over certain aspects.
Process of Establishing a Career
To become a successful Web3 developer, below mentioned are a few things you need to keep in mind.
First off, get familiar with the basics of cryptography, blockchain technology and aspects related to computer science. It is very important to have a clear understanding of the basics, so that novice mistakes are not made.
Now that the basics and coding have been locked in, it is recommended to start the development of smart contracts and proceed with testing them on various blockchains like Ethereum.
The main motive behind this step is practice and avoid any mistakes in the code, because it is extremely important to keep the code in the best state possible, especially when it comes to finance, where many transactions often carry thousands of dollars’ worth of cryptos that need to stay secure and flow efficiently.
Web3 Income Rates
As much as being a developer is important, gaining out our hard work is also necessary to keep you going. Because Web3 developers develop applications that follow the concepts of decentralization, they are not required to be under the influence of a particular entity.
Looking at the current situation, the demand of Web3 developers have seen a massive rise, mostly because of the development of Web3 solutions, mostly likely provoked by the COVID-19 pandemic which has influenced many to work from the comfort of their homes.
And for those that were already matured with the likes of crypto and blockchain, they have managed to make quite an impressive level of income out of their superior level of skill and knowledge.
Currently, experienced Web3 developers can have a minimum income of $100,000 per year, while inexperienced individuals can make around $60,000, however that number can vary depending upon the level of skill, as inexperienced individuals having excellent knowledge and coding skills can also gain more than $100,000 in a single year.
There are many ways you can seek out Web3 development jobs and opportunities that include, participating in events where companies have hiring booths or directly seeking out firms that are looking for Web3 developers through platforms such as Indeed, cryptocurrencyjobs.co and many others.
You can also keep track of events through Discord servers giving you the chance to engage with firms.
Web3 Expectations and Conclusion
And finally, we come to the part where all the things we have discussed sum up, giving us a vision of what more we can expect from Web3 in the times yet to come.
Keeping the rapid growth of technology in the recent years in mind, we can see that a plethora of new opportunities have raised for talented individuals to seek out and make a living out of.
Plus, as systems start to become more decentralized, it paves the way towards a level of communication and data transfer between entities that has never been seen before. So, due to this, the popularity, interest and development of Web3 solutions has started to take over multiple sectors.
If the development of the internet continuous at this rapid pace, soon we will see levels of data sharing and ownership that will no longer require any centralized governance or standard, pushing out the most potential surrounded on data, increasing its transparency and ability to connect and work with several chains, networks, individuals and devices around the world seamlessly.
Furthermore, as seen in the previous sections, with the variety of applications and features associated with Web3, it will create a huge rise in employment opportunities that both the Web2 and the original Web have never been able to handle. Not only will this bring more people into blockchain systems, but will also influence the increase of value, especially around the finance space.
Individuals having an impressive skillset in blockchain, cryptocurrencies and computer science will be highly demanded and preferred over others, and as they grow more and more, it will help to develop more fresh and unique solutions to promote more value flow and making life easier for people around the world that are highly involved in the act of trading.
So, in conclusion, the development of Web3 is a vital aspect towards the advancement of systems around world, and with the wide variety of features and applications it brings, it will promote more opportunities for developers, solutions for traders and people to enjoy around the globe and establish a fully interconnected system that will have an unparalleled level of data sharing.
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