How should a novice approach Web3, blockchain technology and crypto jobs?
By Sachin Gupta
Web3, blockchain and crypto have become comprehensive terms and have captured the attention of the world with their amazing benefits and gains. This popularity has also resulted in many jobs in these fields.
With an exponentially booming technology market, web3, blockchain, and crypto are expected to continue to grow and grow. According to reports, Web 3.0 blockchain is additionally expected to be worth around $6,200 by 2023. This market is additionally expected to grow at an impressive CAGR of 44.6% between 2023 and 2030. While Web 3.0 blockchain market is unfolding exceptionally, reports also indicate the growth of the crypto space market. The cryptocurrency market which was valued at $1.49 billion in 2020 is expected to grow at a CAGR of 12.8% from 2021 to 2030 to reach a value of approximately $5 billion. The global blockchain market is also witnessing tremendous growth and is projected to grow at a CAGR of 8.5-9% between 2020 and 2030, from $5.92 billion in 2021.
Web 3.0 depends on decentralized applications that give access to everyone without letting the participant monetize their personal data. Web 3.0 is auditable, self-contained, permissionless, stateful, and integrates native payments. Web 3.0 is quite different from the previous version of Web 2.0 as it runs on blockchains and has many networks, which the server depends on.
Blockchain is a distributed database that shares data between nodes in a computer network and stores its data in electronic form, i.e. in digital format. In the blockchain, information is collected in groups called blocks. These blocks store certain capacities and when this capacity is filled, it is linked to the previously filled block forming a chain of data and hence the term blockchain. The blockchain aims to allow the recording and distribution of digital information but does not allow the editing of data. Blockchains have laid the foundations of immutable registers, that is to say capable of remaining unchanged.
The term crypto refers to various encryption algorithms that use cryptographic techniques to protect the algorithms using techniques like public private key pairs, elliptic curve encryption, etc. Cryptocurrencies can be purchased or mined using cryptocurrency exchanges and have become one of the most popular trading instruments. Cryptocurrencies have grown in popularity because they offer a way to transfer money faster while being cheaper than any other outsourcing and are based on decentralized systems that do not close at a single point of disconnection or failure.
Budding job industry
As cryptocurrency and blockchain reach their increasing success rate every year, there is an increase in job opportunities offered in the blockchain and cryptocurrency industry. Blockchain jobs are growing at an exponential rate of 2,000-6,000% while offering 50-100% higher salaries than conventional developers. In the field of blockchain, one can work as a blockchain developer,
blockchain project manager: you need to develop solutions for the blockchain and have cloud project manager skills and basic technical skills. One can also work as a solution architect, UX designer and many more.
Crypto-related job postings grew 395% in 2021 itself. One of the most in-demand positions is that of chief artificial intelligence engineer.
Chief Artificial Intelligence Engineer: in which the engineer is responsible for programming and developing the algorithms that help build AI, improve cybersecurity for secure and protected crypto exchanges.
Other in-demand positions you may consider are:
· Executive Account,
· Senior Software Engineer
· Product management
As we rapidly enter a completely new era with new specializations and technologies, various opportunities are available in enterprises and dApps (decentralized applications) that work to solve complex problems. These also give you the chance to work with the most tech-savvy people.
The author is Chancellor of Sanskriti University