The Web3 sector of the economy is expanding rapidly. There has never been a better moment to study Web3 development because of the abundance of engaging, simple, and enjoyable decentralized applications (dapps) that are becoming available.
In the digital age, being a web developer can lead to various job and company options. As more and more corporate operations go online, developers across all industries will have plenty of work to do.
To diversify skill sets and prepare for the upcoming wave of web services, protocols, and applications, many programmers are now eager to master Web3 programming. The Web3 movement attempts to give internet users more control over technology instead of leaving it in the hands of large corporations. Web3 encourages decentralization and transparency online, with public blockchains at the center of this technological revolution.
Web3: What Is It?
The term “Web3″ describes a collection of open-source, decentralized protocols that make up the upcoming internet. Web3 engineers are building a version of the internet that consumers own rather than tech giants, with public blockchains at its core.
The decentralized autonomous organization (DAO) concept and token economies make it possible for developers to replicate some aspects of the conventional web to benefit users and creators rather than large corporations.The desire to shift to Web3 and learn Web3 programming is another reason traditional Web2 developers want to do so.
There are many different services and goods included under the Web3 umbrella. Decentralized web browsers, crypto games, non-fungible tokens (NFT) and metaverse applications, decentralized social media networks, decentralized finance (DeFi), and more fall under this category. Web3 applications also seek to democratize the online experience by enabling users to monetize their data, choose the advertisements they want to see and receive payment for doing so.
The Web3 movement also contributes to developing the blockchain and cryptocurrency industries. By removing the barriers to our regular online interactions, Web3 intends to give consumers more control. These programs also give users and programmers a stake in the programs they create and employ.
Why Learn Web3 Development What Are the Benefits?
Knowing what the financial and technological future might entail gives you an unfair advantage in business and society. The Web3 sector of the economy is also still in its infancy. Thus, getting a foot in the door at this early stage could pave the way for a job that has the potential to change your life.
If you desire to play a significant role in something, studying Web3 development could position you at the vanguard of a financial and technical revolution. You may direct us toward a just online environment free from corporate interests, censorship, and corruption by developing democratic, privacy-preserving web applications and products.
Learning Web3 development will also allow you to challenge yourself daily in novel ways. Additionally, you’ll collaborate with a varied and fascinating group of international colleagues. Developers of blockchain and Web3 technologies are assisting in resolving some of society’s most pressing problems. This covers user empowerment through creating fair and sustainable enterprises, access to financial tools and services, and privacy-preserving solutions.
There has never been a better moment to acquire new knowledge in a developing digital industry. There is a massive demand for Web3 and blockchain developers. Additionally, developers receive a share of the tokens in many Web3 applications. So you could earn even more money than the already respectable compensation a Web3 developer can.
Example Web3 Applications and Web Services
Web3 apps are superior to Web2 apps in several ways, yet many of them are comparable. Several Web3 applications aim to mimic and enhance Web2 counterparts. We go over some of the most well-known Web3 app examples below and how they differ from Web2 apps.
Social Media
The dictatorial authority of major internet companies is avoided through decentralized social media platforms. Industry giants like Meta (formerly Facebook) and Twitter have the right to stop or delete content at anytime.
Users who participate in democratic voting and set the censorship criteria on decentralized social media platforms are the only ones who may restrict material. To ensure that the community may collectively function as the arbitrator and not a tiny group of profit-driven capitalists, several blockchain-based social media platforms reward users for voting on the relevancy and quality of information.
Advertising
Ad revenue is the primary source of income for the great majority of social media applications. However, social media advertising is getting closer scrutiny due to concerns that it violates user privacy and engages in widespread surveillance. Users can understand how their information is utilized in Web3 advertising and learn why they receive particular advertisements.
By using cryptocurrency, many Web3 businesses encourage this by paying users to utilize privacy-preserving software in exchange for customized advertisements.
Web Browsers
Using a Web3 browser that pays you in cryptocurrencies is another method to get a passive income while maintaining your online security. You can choose how many advertisements you want to see and receive rewards following your choice with some Web3 browsers’ built-in customizing tools for advertisements.
Furthermore, some of the best Web3 browsers contribute to your online safety by blocking website trackers and other dangerous activities.
Finance
One of the critical elements of the Web3 environment is decentralized finance (DeFi). DeFi mimics several classic finance elements, including lending, borrowing, hedge funds, and insurance. DeFi protocols, on the other hand, function outside of conventional financial infrastructures. These protocols employ open blockchains to avoid centralization and eliminate trust between parties.
Data Storage
The majority of Web2 apps rely on centralized “siloed” servers. They have a single point of failure, making them vulnerable to attacks. On the other hand, decentralized data storage boosts security using a decentralized blockchain network. Additionally, with this kind of data storage, anyone can use cryptocurrency to create a passive income by renting out their unused hard drive space.
The Metaverse
The metaverse is a collection of immersive, interactive virtual environments that combines social interactions, token currencies, digital art, and NFTs. The metaverse employs augmented and virtual reality components to produce futuristic, science fiction-inspired worlds as an inclusive platform for all online activity.
Web3’s Prospects
We’ll probably soon be living on the “internet of value,” where active individuals may make money off their knowledge, information, and hard drive space while participating in decentralized, token-based economies that compensate them for their online activity.
Web3 has the power to democratize practically all facets of our online interactions and upend some of the most significant sectors of the economy. If you have expertise in creating Web2 applications, you can probably apply those skills to Web3 development.
Decentralized versions of incredibly well-liked services are currently being developed with the help of blockchain technology. On Solana, for instance, Hivemapper functions as a “decentralized Google Maps.” Additionally, the Helium project builds decentralized wireless communication networks using internet of things (IoT) gadgets.
The Web3 movement is also changing the way we produce and consume all kinds of content. This covers social networking, streaming video and music, artwork, and news.
Decentralized identity and trust scores represent yet another fascinating application for blockchain technology. To reduce friction when submitting online applications, it may be possible to construct safe and irreversible identity profiles on the blockchain.
The teams developing these technologies influence our online experiences as Web3 innovations evolve. Web3 might lessen our dependency on centralized media channels if this trend persists.
However, as significant investors shift money from traditional markets into cryptocurrencies and blockchain, Web3 is at risk of centralization. Nothing prevents large corporations from utilizing this technology to their advantage.
Fortunately, several Web3 technologies aim to decrease the concentration of power and reckless investor profiteering at the protocol level. Therefore, regardless of the cash they receive from venture capitalists, most Web3 apps are created to encourage decentralization.
What Makes It Fun
It’s delightful for one that the innovative contract programming paradigm is different from any other paradigm I’ve used in the past. Developing web3 applications has challenged me to be a better programmer, much to how it’s interesting to learn Rust or Haskell or go from an object-oriented paradigm to a functional paradigm.
These features have ramifications for buyers, the programs they desire to develop, and the bounds of what is practical. In the Web3 Buyers’ Discussion Guide from 8th Light, they briefly discuss some of the theoretical underpinnings of innovative contract development that have changed how to approach issues.
Public: The source code for smart contracts is made available to the general public. It is copied on each of these Ethereum network nodes. This makes it easier to verify that the code is functioning as intended and ensures that anyone may view the contract’s deployed bytecode, decompile it, and interact with it. I’ve always loved browsing through the source code of a fascinating website and opening the dev tools in the browser to tinker and discover how it functions, and now that trait is essentially built in.
Permissionless: The functions you have exposed on your contracts are available for a call anytime by anyone on the network. They can access storage to read the underlying state info. Since your application is always accessible to the public, this trait is comparable to a public API, but this paradigm takes that property to its logical conclusion. Your code is public; anyone may access it, view it, and engage with it without a password.
Inalterable: You cannot alter a contract once it has been launched. It would be best to consider this limitation, account for it, and design around it. Because if you write immutable contracts, your defects will remain in use indefinitely. Either you have to design around this property or get it correctly the first time. It compels programmers to build modular systems and identify design patterns supporting upgradeability.
Expensive: You must use the Ether asset to cover the cost of calculation and storage. Therefore, there is a cost associated with every state-changing activity on the network and every computation you run there. Gases are the units used to measure ether, and a gas-powered computer makes an excellent conceptual representation of how it functions. It’s a brilliant defence against the so-called halting problem, in which everyone would have to run my loop indefinitely if you were to develop a program that could loop endlessly.
Able to perform: As a result, we can predict the state based on the state at time zero. This is a fascinating finding because it implies that many of the non-deterministic programming techniques we employ in general-purpose applications are not feasible within the EVM’s closed environment.
For instance, many applications will produce random numbers, but the EVM cannot produce random numbers since a deterministic closed system cannot produce unpredictability.
Politicized: The value you deposit in a smart contract is a form of the bug bounty. Therefore, in some ways, this property combines all the others. Adversaries will identify and take advantage of even the most minor weaknesses in the system. In this setting, testing your code, simulating unforeseen events, and thinking very, very adversarially are all essential.
Conclusion
In conclusion, Web3’s capacity to grant individuals autonomy will result in a level playing field on the internet. The ability to control one’s time, information, and the beneficiaries of it is a prerequisite for true sovereignty.
In the end, Web3’s decentralized blockchain technology will allow individuals to connect to an internet where they may own and appropriately compensate for their time and data, eclipsing an exploitative and criminal web where large, centralized repositories get stored for profit. Particularly developers will find this beneficial.