DEV Community

Cover image for What impact does Web3 have on your developer life?
Tanmay Chakrabarty
Tanmay Chakrabarty

Posted on

What impact does Web3 have on your developer life?

Web3, blockchain, and cryptocurrency have all become broad words that have captivated the world's attention due to their incredible benefits and rewards. This popularity has resulted in a large number of employment openings in these disciplines.

Market Development

Web3, blockchain, and cryptocurrency are predicted to grow and spread in the face of a rapidly growing tech market. According to projections, the value of web 3.0 blockchain is expected to reach $6,200 by 2023. Between 2023 and 2030, this market is predicted to develop at a 44.6percent compound annual growth rate (CAGR). While the web 3.0 blockchain business performs admirably, data also show that the crypto market is growing. From 2021 to 2030, the cryptocurrency market, which was worth $1.49 billion in 2020, is predicted to increase at a CAGR of 12.8 percent, reaching a value of roughly $5 billion. The worldwide blockchain market is also booming, with a CAGR of 8.5-9 percent predicted between 2020 and 2030, up from$5.92 billion in 2021

Web3

Web 3.0 is based on decentralised apps that allow everyone to participate without allowing them to monetize their personal information. Web 3.0 is verifiable, self-contained, permissionless, stateful, and includes native payments. Web 3.0 differs from web 2.0 in that it is based on blockchains and relies on a large number of networks and servers.

Blockchain

Blockchain is a distributed database that distributes data among computer network nodes and keeps it in electronic form, or digital format. The information in blockchain is collected in blocks, which are referred to as groups. Blockchain attempts to make it possible to capture and transmit digital information, but it does not allow for data editing. Blockchains have laid the groundwork for immutable ledgers, or records that can't be modified

Crypto

Cryptography refers to a variety of encryption algorithms that use cryptographic approaches to protect them, such as public-private key pairs, elliptical curve encryption, and so on. Cryptocurrencies are one of the most popular trading tools since they can be bought or mined via cryptocurrency exchanges. Cryptocurrencies have grown in prominence because they provide a means for speedier money transactions at a lower cost than any other service, and they are based on decentralised systems that do not shut down at a single point of failure or disconnection.

Job Market is Growing

As the success rate of cryptocurrencies and blockchain grows year after year, the number of job openings in the blockchain and cryptocurrency business grows. Jobs in blockchain are rising at a rate of 2,000-6,000 percent each year, with pay that are 50-100 percent greater than those of traditional developers. A blockchain developer is a person who works in the field of blockchain technology.

  • Block chain Developer: This is a highly marketable professional path in which one assists a company in marketing the blockchain platform and creating a high demand for it, which is becoming much easier now that many people are interested in the benefits block chain has to offer. To pursue this professional path, one must have a few years of experience in fields such as C++, JavaScript, and Python.

  • Blockchain Project Manager: This position requires the development of blockchain solutions as well as cloud project management and basic technical abilities. Work as a solution architect, UX designer, and many other positions are available. Crypto-related job postings increased by 395 percent in 2021 alone. Chief artificial intelligence engineer is one of the most in-demand positions.

  • Chief Artificial Intelligence Engineer:The engineer is in charge of programming and developing algorithms that aid in the development of AI and improve cybersecurity for safe and secure crypto exchanges.

As we swiftly transition into a new era with new specialities and technology, many chances in organisations and dApps (decentralised applications) that seek to solve difficult challenges are becoming available. You'll also have the opportunity to collaborate with some of the industry's brightest minds.

Discussion (0)