Web3 is everywhere and it is said to be the future of internet. This new vision for the web is based on blockchain. It comprises cryptocurrencies NFTs, DAO and decentralized finance. It offers a read/write/own version of web where people could have financial stake in and more control over web communities in which they take part.
Web3 promises to revolutionize the experience of being online every bit as much as PCs and smartphones did.
Companies have entered the space only to be burned by a backlash over environmental impacts, financial speculation and potential for fraud that come with Web3 projects. And yet, because blockchain offers a way out of privacy, centralization, and financial exclusion concerns, it has opened new versions of many of these problems. Companies need to consider both the risks and the benefits before diving in.
What Is Web3 Technology?
Imagine a new kind of Internet which has the extraordinary ability to accurately translate whatever you type and understand everything that you say, whether you type or say it through other media, and where all the content you consume suddenly becomes more personalized than what it was like back in the day. In all, you are stepping into a new era in the evolution of the Internet. Actually, it’s been called Web3.
But, what is Web3, how it will look, and what difference shall it make in our lives, and most importantly, what are the top Web 3 job list? If you are interested in getting the above answers, continue with the article, since through this tutorial, you are going to get your questions associated with Web3 answered clearly.
So, here it goes.
Web3 began when, in 1991, scientists W. Scott Stornetta and Stuart Haber built the first blockchain to however time-stamp digital documents. It was an idea that had been around since the very early days of the internet, but the reality of what we today would call blockchain didn’t spring forth until 2009 when the pseudonymous inventor Satoshi Nakamoto introduced Bitcoin amid the financial crisis (and at least partially as a response to it).
What Is Web3 Technology?
How it works and operates on a blockchain:
Ownership of the cryptocurrency gets tracked via a shared, public ledger. If one user wants to transfer, say, a certain number of bitcoin, “miners” process the transaction by solving a complicated math problem that adds a new “block” of data to the chain and earns newly minted bitcoin for their trouble. While the Bitcoin chain is just for currency, newer blockchains do more.
To simplify it Web3 represents the next stage in the use of cryptocurrency and blockchain. Essentially, anything that can be codified can be stored on the blockchain—be it the amount of tokens sitting in your pocket, the conditions under a self-executing contract, or the code making up a decentralized app (dApp).
Key Applications of Web3
Powered by blockchain, Web3 enables a growing set of new apps and services, including the following:
- NFT (Non-fungible Tokens): It represents unique items, and they are stored in a blockchain alongside a cryptographic hash thereof.
- DeFi: Decentralized blockchain technology is being repurposed as the foundational infrastructure for Decentralized Finance, a new use case for Web3 in which financial services are offered without the need for traditionally centralized banking infrastructure.
- Cryptocurrency: A new universe of money that is working very hard not to be anything like the older world of fiat cash is emerging from Web3 applications, including cryptocurrencies and Bitcoin.
- dApp (Decentralized applications): These are programmatically running programmes and recorded on an immutable ledger. dApps are created on top of the blockchain and use smart contracts as a tool to offer services.
- Chain-crossing bridges: There are many blockchains jointly comprising the universe of Web3, and some kind of connectivity between those different blockchains is provided by the chain-crossing bridges.
- DAOs (Decentralized Autonomous Organizations): DAOs could potentially act as the ruling bodies for Web3, in a way—some kind of structure and decentralized governance.
Key Applications of Web3
Top Web3 Job List
The Web3 job market will blossom by 2024, full of brilliant, lucrative opportunities in various different roles. Here is a glance at some of the top web3 job list:
- Blockchain Developer: The Wizards of the Future Decentralized Web3, called by some. They breathe life into the technology of Blockchain, turning it into tangible applications. Depending on the organization and the region, they may earn $146,250 annually.
- Solidity Developer: They specialize in writing smart contracts for Ethereum. Crucial in building and sustaining blockchain applications. They typically earn about $79,805 per year.
- Crypto Analyst: These professionals research market trends, proffer investment recommendations, and track the dynamics in the crypto market. They typically earn a compensation of $76,273 per year.
- Web3 Developer: Develops, creates, and improves dApps with main languages used, such as Solidity, JavaScript and few more. Annual average salary: $71,484.
- Smart Contract Engineer: Transforming real-world contracts into secure and efficient smart contracts, they are said to bag approximately $162,500 annually.
- Community Manager: This is important in cultivating active and engaged user communities; it will be paid between $73,000 and $118,000 per year. Critical to maintaining the decentralized ethos of Web3.
- Product Manager: Standing at the helm of Web3 project conception to completion, this role earns an average of $86,983 annually. Conceptual strategic leadership for the success of Web3 initiatives will fall under product management.
- Legal Advisor: Professionals in this sector will see compliance with the evolving regulations around blockchain and digital assets. The salary that the advisor can receive is approximately $77,211 per year and will be a crucial part of navigating the legal waters of Web3.
- Principal Visual Designer: In charge of Web3 product visual aspects, keeping design consistency, and maintaining user-friendly interfaces. You can potentially earn from $158000 to $240000 annually.
- Strategic Partnerships Lead DeFi Ecosystem: In this role you have to build a critical part such as helping the company build a larger ecosystem supporting tokenized assets. This means interfacing with and owning relationships across Web3/DeFi entities, leading to long-standing partnerships. This role can potentially earn you between $180000 and $212000.
Top Web3 Job List
However, do you know it’s Web1 and after it Web2 that caused the beginning of Web3. So let’s learn about Web1 and Web2.
Web1: The Static Web (1990s – Early 2000s)
Web1 is known as a “static web” and is the initial stage of development of the World Wide Web. In the nineties, it was the earliest and most dependable internet, despite offering minimal information and little to no user engagement.
Characteristics:
Read-Only: With Web1, sites were read-only, meaning a user could consume information on a web page but had no way of adding content or interacting back with the website. The web was, therefore, a strictly one-way street of information distribution.
Static Pages: Web1 sites were static HTML pages that were hand-coded and rarely updated. Single URLs corresponded to single web pages – each page was a discrete entity on its own.
Little Interactivity: User interactivity in these early years was limited; that is, form submission was basic, and features such as login systems and e-commerce could be seen as either non-existent or very rudimentary.
HTML and Web Standards: The technology used in driving Web1 included HTML for the page structure, with CSS and JavaScript playing a very minor role. These pages were perused using the back-then popular web browsers, Netscape Navigator and Internet Explorer.
Content Centralization: Content was created and centralized by an organization or webmaster; there was no end-user contribution.
Examples:
- Corporate Static Pages: Web pages for a corporation were only used as a digital version of an address/phone brochure with the company name on top or top right.
- Directories and Portals: Some early examples are Yahoo! Directory, AOL, and other downloadable lists.
- Personal Static Pages: Geocities and other similar static page hosts allowed a page creator to create simple pages for free.
Web Limitations:
Scope and functionality were extremely limited. User experience was passive, and the web was a passive repository for information, with no user-created content or interactivity. Search engines were primitive, and so content discovery was very manual.
Impact:
However, Web1 still had a role in initiating the digital era by making information easily accessible to the public at large, and this undertone would further push for the future innovations that will come in web technology.
Web1: The Static Web (1990s – Early 2000s)
Web2: The Social Web (Mid-2000s to the Present)
When Web2 came out, it was also referred to as the “social web.” The key defining feature of this era was increased interactivity with the user at the driver’s seat, creating user-generated and useful content, and enabling the social connectivity phase. The World Wide Web turned into a massive user interface behaviorally.
Key Features:
Read-Write Nature: Following the read-only characteristic of Web1, users could now also generate and share data under the Web2 philosophy. This led to the huge proliferation of blogs, wikis, and social media.
Dynamic Content: It was realized that the internet is not a newspaper, and websites became more dynamic with things like stock tickers and news feeds. Technologies like AJAX facilitated asynchronous data loading.
User-Generated Content: Finally, it all started. The ability to upload user-generated content exploded like users could post the photos on Flickr, upload the videos on YouTube, and write blogs on CMS such as WordPress.
Social Networking: Social networking became possible through platforms like Facebook, X (formerly Twitter), and LinkedIn.
Technologically Advanced User Interfaces: Web technologies advanced radically with HTML5, CSS3, and JavaScript frameworks (Angular, React), permitting both a richer user experience and more sophisticated web applications.
Collaborative Projects: An excellent example of collaborative knowledge production became possible by creating Wikipedia, where users could actively edit articles and add new ones.
Content Sharing: The sharing of video content found a host on the YouTube platform. Photo sharing became one of the main activities on Flickr. Sharing music was facilitated with the help of SoundCloud.
Finally, let’s see in detail about Web3.
Web2: The Social Web (Mid-2000s to the Present)
Conclusion
Each phase of the web’s evolution has been built upon the previous one. This enhancement includes functionality. Interactivity also expanded along with user control. Web1 laid groundwork. Web2 democratized content creation and social interaction. Web3 aims to decentralize and empower users. The goal is creating a more secure and intelligent internet.
And as for the jobs, these roles clearly illustrate the varied opportunities in the Web3 space, ranging from the more technical ones, such as that of a blockchain or smart contract developer, to strategic, community-driven roles. In these progressive industries, it is a very promising field for one’s career development, while demand for skilled professionals will continue to grow.
