{"version":"https://jsonfeed.org/version/1.1","title":"Stephen Ajulu","home_page_url":"https://ajulu.netlify.app/","feed_url":"https://ajulu.netlify.app/tags/smart-contract/feed.json","description":"Hello, I'm Stephen Ajulu, a seasoned multidisciplinary tech professional with over a decade of experience. I build impactful solutions using design, tech, and engineering in the pursuit of impact.","icon":"https://ajulu.netlify.app/images/me.jpg","authors":[{"name":"Stephen Ajulu","url":"https://stephenajulu.com","avatar":"https://ajulu.netlify.app/images/me.jpg"}],"items":[{"id":"https://ajulu.netlify.app/posts/hire-web3-developers-everything-you-need-to-know/","url":"https://ajulu.netlify.app/posts/hire-web3-developers-everything-you-need-to-know/","title":"Hire Web3 Developers: Everything you need to know","summary":"The blockchain ecosystem has seen unprecedented growth with many companies now looking to hire Web3 developers with experience in cryptocurrency.\nThe web is undergoing dramatic changes. Of the latest changes is Web3, a new version of the internet, which is quickly expanding in size and popularity.\nAs it\u0026rsquo;s still a new idea, finding Web3 engineers is a tedious task. It\u0026rsquo;s mostly cryptocurrency and blockchain enthusiast developers who are mastering this new form of the web, which is destined to change the internet in ways we have yet to understand.\n","content_html":"\u003cp\u003eThe blockchain ecosystem has seen unprecedented growth with many companies now looking to hire Web3 developers with experience in cryptocurrency.\u003c/p\u003e\n\u003cp\u003eThe web is undergoing dramatic changes. Of the latest changes is Web3, a new version of the internet, which is quickly expanding in size and popularity.\u003c/p\u003e\n\u003cp\u003eAs it\u0026rsquo;s still a new idea, finding \u003cstrong\u003eWeb3 engineers\u003c/strong\u003e is a tedious task. It\u0026rsquo;s mostly cryptocurrency and blockchain enthusiast developers who are mastering this new form of the web, which is destined to change the internet in ways we have yet to understand.\u003c/p\u003e\n\u003cp\u003eBefore we talk about how to hire Web3 developers, let\u0026rsquo;s talk about Web3 itself.\u003c/p\u003e\n\u003ch2 id=\"what-is-web3\"\u003e\u003cstrong\u003eWhat is Web3?\u003c/strong\u003e\u003c/h2\u003e\n\u003cp\u003eWeb3, unlike its predecessors, Web 1.0 and Web 2.0, is based on peer-to-peer (P2P) decentralized networks, such as blockchain.\u003c/p\u003e\n\u003cp\u003eBlockchain is a hallmark building block of cryptocurrency, and Web3 is a product of both. Web3 developers create apps that aren\u0026rsquo;t limited to a single cloud server but are instead distributed on a blockchain or decentralized P2P network that isn\u0026rsquo;t controlled by a central authority.\u003c/p\u003e\n\u003cp\u003eIn simpler words, Web3 is similar to how most cryptocurrencies work based on the blueprint of Bitcoin.\u003c/p\u003e\n\u003cp\u003eHow does this differ from the existing Web 2.0? While Web 2.0 is user-centric (most of the content is user-generated), Web3 has taken this approach to the next level by introducing more autonomy and keeping things more transparent and relatable. In Web3, computers are heavily involved in interpreting information on a human level.\u003c/p\u003e\n\u003cp\u003eWeb3 has many additional attributes that distinguish it from Web 2.0 — it\u0026rsquo;s verifiable, self-governing, permission-less, distributed, stateless, and has built-in payment systems (cryptocurrency).\u003c/p\u003e\n\u003cp\u003eThis lack of transparency and verification led to Web 2.0 containing too much content and information, most of which isn\u0026rsquo;t helpful for general users. Its security is also sub-par, which is why there are too many hackers today and a marked increase in identity theft and other cyber-crimes.\u003c/p\u003e\n\u003cp\u003eAny application built on Web3 would be developed and owned by the users as they help create and maintain the app, earning their stake along the way. This is just how Bitcoin operates, as miners of the currency earn Bitcoins when they facilitate transactions through computing operations.\u003c/p\u003e\n\u003cp\u003eThe apps on Web3 are called \u0026ldquo;dApps,\u0026rdquo; which is short for \u0026ldquo;decentralized applications.\u0026rdquo; You can expect to hear this term more often in the near future.\u003c/p\u003e\n\u003cp\u003eAn effective Web3 developer is one who is familiar with the concept of Web3, is proficient in the relevant programming languages, and has the right tech stack to back their development work.\u003c/p\u003e\n\u003ch2 id=\"what-tech-stack-do-web3-developers-use-skills-and-tools\"\u003e\u003cstrong\u003eWhat Tech Stack Do Web3 Developers Use: Skills and Tools\u003c/strong\u003e\u003c/h2\u003e\n\u003cp\u003eThe tech stack, or developer stack, refers to the technology or tools the developer uses and excels at. A good example is the MEAN stack, which is comprised of MongoDB, Express.js, AngularJS/Angular, and Node.js.\u003c/p\u003e\n\u003cp\u003eFor Web3, there\u0026rsquo;s a specific tech stack that the developer you\u0026rsquo;re hiring must use.\u003c/p\u003e\n\u003ch3 id=\"web3-sdksdapps\"\u003e\u003cstrong\u003eWeb3 SDKs/dApps\u003c/strong\u003e\u003c/h3\u003e\n\u003cp\u003eThe Web3 SDKs, or libraries, are essential for building any dApp. These libraries support the interaction with a blockchain, such as Ethereum, and conduct transactions.\u003c/p\u003e\n\u003cp\u003eThe most important of these SDKs are \u003ca href=\"https://web3js.readthedocs.io/en/v1.5.2/\"\u003eweb3.js\u003c/a\u003e, \u003ca href=\"https://web3py.readthedocs.io/en/stable/\"\u003eweb3.py\u003c/a\u003e, and \u003ca href=\"https://docs.ethers.io/v5/\"\u003eethers.js\u003c/a\u003e. These are also linked with smart contracts, which are explained further below.\u003c/p\u003e\n\u003ch3 id=\"cryptocurrency-wallets\"\u003e\u003cstrong\u003eCryptocurrency Wallets\u003c/strong\u003e\u003c/h3\u003e\n\u003cp\u003eIf you\u0026rsquo;ve ever dabbled with cryptocurrency, you probably already know what a crypto wallet is. It holds your cryptocurrency and can be either a digital or hardware wallet. For Web3 applications, a wallet is required to facilitate transactions.\u003c/p\u003e\n\u003cp\u003eThere\u0026rsquo;s a fee for the writing operations on the blockchain, which must be drawn from the wallet. For Web3, the developer can create an ETH (ethers) wallet using any of the common languages, such as Python, JavaScript, or Ruby. Alternatively, developers can use an existing wallet platform like \u003ca href=\"https://metamask.io/\"\u003eMetaMask\u003c/a\u003e.\u003c/p\u003e\n\u003ch3 id=\"nodes\"\u003e\u003cstrong\u003eNodes\u003c/strong\u003e\u003c/h3\u003e\n\u003cp\u003eNodes make up the blockchain and retain a copy of it. These are also called Web3 providers for this reason, as the application\u0026rsquo;s connectivity with the blockchain hinges on these nodes. Without these nodes, dApp cannot communicate with the smart contracts.\u003c/p\u003e\n\u003cp\u003eThe most commonly used provider is QuickNode, which provides a global network of nodes powered by speedy operations.\u003c/p\u003e\n\u003ch3 id=\"smart-contracts\"\u003e\u003cstrong\u003eSmart Contracts\u003c/strong\u003e\u003c/h3\u003e\n\u003cp\u003eIn the crypto world, smart contracts are pieces of code that live on the blockchain. Written in \u003ca href=\"https://docs.soliditylang.org/en/v0.8.10/\"\u003eSolidity\u003c/a\u003e, these cannot be altered or mutated. This code runs when the conditions for it to run are met.\u003c/p\u003e\n\u003cp\u003eThis automates the workflow when the participants of the blockchain confirm an outcome. These smart contracts (pioneered by Ethereum) also helped give Ethereum the edge over Bitcoin in terms of transaction speed.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eRelated:\u003c/strong\u003e \u003ca href=\"https://www.revelo.com/blog/hire-nft-developer\"\u003e\u003cstrong\u003eHire NFT Developers »\u003c/strong\u003e\u003c/a\u003e\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eRelated:\u003c/strong\u003e \u003ca href=\"https://www.revelo.com/blog/what-to-look-for-in-a-mobile-app-developer\"\u003e\u003cstrong\u003eWhat to Look for in a Mobile App Developer\u003c/strong\u003e\u003c/a\u003e\u003c/p\u003e\n\u003ch2 id=\"web3-developer-salaries\"\u003e\u003cstrong\u003eWeb3 Developer Salaries\u003c/strong\u003e\u003c/h2\u003e\n\u003cp\u003eThe average yearly salaries for Web3 developers can vary greatly depending on what you\u0026rsquo;re hiring them for. Here\u0026rsquo;s an overview of the most popular \u003cstrong\u003eWeb3 expert roles and their salaries\u003c/strong\u003e.\u003c/p\u003e\n\u003ch3 id=\"blockchain-developer\"\u003e\u003cstrong\u003eBlockchain Developer\u003c/strong\u003e\u003c/h3\u003e\n\u003cp\u003eAccording to \u003ca href=\"https://www.ziprecruiter.com/Salaries/Blockchain-Developer-Salary\"\u003eZipRecruiter\u003c/a\u003e, the average yearly salary for a blockchain developer is $154,550 or $74 per hour. Note that this average is mostly drawn from larger companies. If you add smaller companies and startups into the mix, the average yearly salary drops to \u003ca href=\"https://web3.career/web3-salaries/blockchain-developer\"\u003e$80,000\u003c/a\u003e per year.\u003c/p\u003e\n\u003cp\u003eSince the term \u0026ldquo;blockchain developer\u0026rdquo; is a broad descriptor, the associated salaries tend to vary. In general, there are two types of blockchain developers: blockchain software developers and core blockchain developers.\u003c/p\u003e\n\u003col\u003e\n\u003cli\u003e\n\u003cp\u003e\u003cstrong\u003eBlockchain software developers:\u003c/strong\u003e Blockchain software developers are responsible for creating applications based on blockchain protocol and architecture. One of their main duties is to create \u003ca href=\"https://www.ibm.com/topics/smart-contracts\"\u003esmart contracts\u003c/a\u003e, which are programs stored on a blockchain that automatically run when conditions are met. Small contracts are usually used to automate workflows and agreement execution so every participant will immediately know the outcome.\u003c/p\u003e\n\u003cp\u003eThey also create decentralized applications (dApps) that run on the blockchain, making them comparable with web developers, who use web architects\u0026rsquo; design and protocol to create web applications. Additionally, these software developers are responsible for the front-end and back-end development of dApps and supervising the stack that runs them.\u003c/p\u003e\n\u003c/li\u003e\n\u003cli\u003e\n\u003cp\u003e\u003cstrong\u003eCore blockchain developers:\u003c/strong\u003e These blockchain developers are responsible for creating the architecture, design, and security of the blockchain system. They also:\u003c/p\u003e\n\u003c/li\u003e\n\u003c/ol\u003e\n\u003cul\u003e\n\u003cli\u003eDesign the blockchain protocols\u003c/li\u003e\n\u003cli\u003eDesign security patterns and consensus protocols for the network\u003c/li\u003e\n\u003cli\u003eSupervise the entire blockchain network\u003c/li\u003e\n\u003c/ul\u003e\n\u003cp\u003eDespite their differences, both types of blockchain developers require a similar skill set. Here are the main blockchain developer hard skills you should look for when hiring a blockchain developer for your team:\u003c/p\u003e\n\u003col\u003e\n\u003cli\u003e\n\u003cp\u003e\u003cstrong\u003eCryptography:\u003c/strong\u003e Cryptography is the study of blockchain protocols that prevent unauthorized and unwanted parties from accessing your data. A popular concept in cryptography is public-key cryptography, which forms the backbone of cryptocurrency transactions.\u003c/p\u003e\n\u003cp\u003eAnother hot topic is cryptographic hashing, which transforms cleartext passwords into enciphered text for storage. This slows down threat actors since they\u0026rsquo;ll have to decipher these hash values if they want to exploit the passwords.\u003c/p\u003e\n\u003c/li\u003e\n\u003cli\u003e\n\u003cp\u003e\u003cstrong\u003eData structures:\u003c/strong\u003e Every blockchain developer needs to have extensive knowledge of data structures. This is because blockchain networks consist of data structures.\u003c/p\u003e\n\u003c/li\u003e\n\u003cli\u003e\n\u003cp\u003e\u003cstrong\u003eBlockchain architecture:\u003c/strong\u003e Blockchain developers need to know what ledgers are, how smart contracts work, and what consensus is. They should also be familiar with all four types of blockchain architecture: consortium, private, public, and hybrid.\u003c/p\u003e\n\u003c/li\u003e\n\u003cli\u003e\n\u003cp\u003e\u003cstrong\u003eWeb development:\u003c/strong\u003e Blockchain developers should also know how to develop and create web apps, particularly if they\u0026rsquo;re blockchain software developers.\u003c/p\u003e\n\u003c/li\u003e\n\u003cli\u003e\n\u003cp\u003e\u003cstrong\u003eA variety of programming languages:\u003c/strong\u003e Finally, your blockchain developer should have experience with at three or more of the following programming languages:\u003c/p\u003e\n\u003c/li\u003e\n\u003c/ol\u003e\n\u003cul\u003e\n\u003cli\u003eJava\u003c/li\u003e\n\u003cli\u003ePython\u003c/li\u003e\n\u003cli\u003eC++\u003c/li\u003e\n\u003cli\u003e\u003ca href=\"https://www.revelo.com/hire/c-net-developers\"\u003eC#\u003c/a\u003e\u003c/li\u003e\n\u003cli\u003ePHP\u003c/li\u003e\n\u003cli\u003eJavaScript\u003c/li\u003e\n\u003cli\u003eGo\u003c/li\u003e\n\u003cli\u003eSimplicity\u003c/li\u003e\n\u003cli\u003eSQL\u003c/li\u003e\n\u003c/ul\u003e\n\u003cp\u003eLike the rest of the roles on this list, blockchain developers need the following soft skills:\u003c/p\u003e\n\u003cul\u003e\n\u003cli\u003eCommitment to and passion for the Web3 landscape\u003c/li\u003e\n\u003cli\u003eInterest in learning more about blockchain technologies\u003c/li\u003e\n\u003cli\u003eClient and project management skills\u003c/li\u003e\n\u003cli\u003eThe ability to meet deadlines ahead of time\u003c/li\u003e\n\u003cli\u003eThe ability to work in multi-disciplinary teams\u003c/li\u003e\n\u003c/ul\u003e\n\u003ch3 id=\"solidity-developer\"\u003e\u003cstrong\u003eSolidity Developer\u003c/strong\u003e\u003c/h3\u003e\n\u003cp\u003eThe average base salary for a Solidity developer is \u003ca href=\"https://cryptocurrencyjobs.co/salaries/solidity-developer/\"\u003e$127,500 per year\u003c/a\u003e. Remote Solidity developers can earn up to an average of $145,000 per year, depending on which company they\u0026rsquo;re working for.\u003c/p\u003e\n\u003cp\u003eSolidity developers use the Solidity language to create and deploy smart contracts on Ethereum-based apps. The syntax of Solidity is similar to C and Javascript, so developers who already know those languages can quickly learn Solidity. Compared to other languages, Solidity offers multiple benefits, such as:\u003c/p\u003e\n\u003cul\u003e\n\u003cli\u003eStatically typed programming\u003c/li\u003e\n\u003cli\u003eAccessibility to JavaScript debuggers, infrastructures, and other tools\u003c/li\u003e\n\u003cli\u003ePreciseness\u003c/li\u003e\n\u003c/ul\u003e\n\u003cp\u003eWith Solidity, developers can craft applications with self-enforcing business logic in smart contracts, creating a non-repeatable record of transactions. Solidity also supports libraries, a complex user-defined type, and inheritance. Thus, it\u0026rsquo;s a good choice for creating contracts for crowdfunding, voting, multi-signature wallets, and blind auctions.\u003c/p\u003e\n\u003cp\u003eSolidity developers are usually responsible for:\u003c/p\u003e\n\u003cul\u003e\n\u003cli\u003eIntegrating Solidity code across various platforms\u003c/li\u003e\n\u003cli\u003eManaging the full lifecycle of blockchain development\u003c/li\u003e\n\u003cli\u003eEnsuring blockchain integration with existing applications\u003c/li\u003e\n\u003cli\u003eBuilding smart contracts and ensuring that all timelines and expectations are met for finished smart contracts\u003c/li\u003e\n\u003cli\u003eReviewing smart contracts for security and functionality\u003c/li\u003e\n\u003cli\u003eSupervising web services that use blockchain technology\u003c/li\u003e\n\u003cli\u003eCollaborating with multidisciplinary teams and product managers to discover new ideas for smart contract development\u003c/li\u003e\n\u003cli\u003eAssessing technical reviews of proposed solutions\u003c/li\u003e\n\u003cli\u003eAnalyzing usage and transaction statistics to pinpoint and prioritize areas for improvement\u003c/li\u003e\n\u003c/ul\u003e\n\u003cp\u003eBesides having a deep knowledge of Solidity and blockchains, Solidity developers should also have the following hard skills:\u003c/p\u003e\n\u003cul\u003e\n\u003cli\u003eBlockchain technology, especially Ethereum blockchain\u003c/li\u003e\n\u003cli\u003eStrong background in Javascript, C, C++\u003c/li\u003e\n\u003cli\u003eKnowledge of AngularJS, React JS, and Ember JS\u003c/li\u003e\n\u003cli\u003ePortfolio experience with Ethereum testnet and mainnet\u003c/li\u003e\n\u003cli\u003eCSS/HTML/JS/React for application binary interface (ABI) integration\u003c/li\u003e\n\u003cli\u003eExperience with RESTful APIs\u003c/li\u003e\n\u003cli\u003eExperience with staking protocol implementation for liquidity pair and single-token staking\u003c/li\u003e\n\u003cli\u003eFamiliar with different ways to deploy smart contracts, such as Remix, Truffle suite, and Hardhat\u003c/li\u003e\n\u003cli\u003eExperienced in staking implementing and test-driven development (TDD)\u003c/li\u003e\n\u003cli\u003eKnowledge of libraries, data structures, blockchain architecture, web development, and smart contracts\u003c/li\u003e\n\u003c/ul\u003e\n\u003ch3 id=\"smart-contract-developer\"\u003e\u003cstrong\u003eSmart Contract Developer\u003c/strong\u003e\u003c/h3\u003e\n\u003cp\u003eAccording to \u003ca href=\"https://www.glassdoor.ca/Salaries/san-francisco-smart-contract-developer-salary-SRCH_IL.0,13_IM759_KO14,38.htm?clickSource=searchBtn\"\u003eGlassdoor\u003c/a\u003e, the average annual salary of a smart contract developer in San Francisco, CA, is $94,674 with an average additional cash compensation of $20,950.\u003c/p\u003e\n\u003cp\u003eAs their name suggests, smart contract developers are responsible for developing smart contracts for blockchain platforms. They use various programming languages, such as Solidity and Vyper, to create smart contracts, which, as we covered above, are blockchain programs that automatically run when conditions are met.\u003c/p\u003e\n\u003cp\u003e\u003cimg src=\"https://assets-global.website-files.com/60f5b6738a95b57fe76faba5/62bb49ce59a5e780a8dcfe2d_Hire%20Web3%20Developers%20Salary%2C%20Skills%20and%20More.png\" alt=\"\"\u003e\u003c/p\u003e\n\u003cp\u003eUnlike blockchain software developers who create dApps as well as smart contracts, smart contract developers are only responsible for designing and building smart contracts architecture and related tasks. As such, they have fewer responsibilities and lower salaries.\u003c/p\u003e\n\u003cp\u003eHere\u0026rsquo;s what they\u0026rsquo;re typically responsible for:\u003c/p\u003e\n\u003cul\u003e\n\u003cli\u003eDesigning, building, and deploying smart contracts architecture, yield pools, incentive structures, and strategies\u003c/li\u003e\n\u003cli\u003eWorking with smart contract auditors and the rest of your IT team to implement fixes\u003c/li\u003e\n\u003cli\u003eCreate, implement, and test smart contract additions and upgrades\u003c/li\u003e\n\u003cli\u003eExplore and research smart contract design implications\u003c/li\u003e\n\u003c/ul\u003e\n\u003cp\u003eMost companies require smart contract developers to have the following hard skills:\u003c/p\u003e\n\u003cul\u003e\n\u003cli\u003eOver four years of full-stack web development (client-facing apps and APIs)\u003c/li\u003e\n\u003cli\u003eProgramming languages such as Solidity, NodeJS, and JavaScript\u003c/li\u003e\n\u003cli\u003eCryptography\u003c/li\u003e\n\u003cli\u003eExperience in creating, developing, deploying, and testing smart contracts for all four blockchain architectural types\u003c/li\u003e\n\u003cli\u003eExperience with patterns that will make their Solidity code more readable and improve performance, such as:\u003c/li\u003e\n\u003c/ul\u003e\n\u003col\u003e\n\u003cli\u003eOracles\u003c/li\u003e\n\u003cli\u003ePull over Push\u003c/li\u003e\n\u003cli\u003eEternal Storage\u003c/li\u003e\n\u003cli\u003eTight Variable Packing\u003c/li\u003e\n\u003cli\u003eGuard Check\u003c/li\u003e\n\u003cli\u003eEmergency Stop\u003c/li\u003e\n\u003c/ol\u003e\n\u003cul\u003e\n\u003cli\u003eThe ability to write secure code that prevents threat actors from taking over contracts\u003c/li\u003e\n\u003cli\u003eOptimization of smart contracts\u003c/li\u003e\n\u003cli\u003eUser experience (UX)\u003c/li\u003e\n\u003c/ul\u003e\n\u003ch3 id=\"rust-developer\"\u003e\u003cstrong\u003eRust Developer\u003c/strong\u003e\u003c/h3\u003e\n\u003cp\u003eThere\u0026rsquo;s a lot of variation in the salaries of Rust developers.\u003c/p\u003e\n\u003cp\u003eAccording to \u003ca href=\"https://www.ziprecruiter.com/Salaries/Rust-Developer-Salary\"\u003eZipRecruiter\u003c/a\u003e, the average Rust developer earns $91,709 per year or $44 per hour. However, in certain major cities, the average salary of Rust developers is higher. For instance, the annual average salary of a rust developer in San Francisco, CA, is \u003ca href=\"https://www.glassdoor.ca/Salaries/san-francisco-rust-developer-salary-SRCH_IL.0,13_IM759_KO14,28.htm?clickSource=searchBtn\"\u003e$106,131\u003c/a\u003e with an average additional cash compensation of $11,867.\u003c/p\u003e\n\u003cp\u003eRust developers are responsible for coding and developing web browsers, blockchain platforms and projects, servers and systems software, and operating systems in the Rust programming language. They may also be responsible for testing, debugging, and ensuring the security and safety of the systems, software, and platforms they develop.\u003c/p\u003e\n\u003cp\u003eAdditional duties may include:\u003c/p\u003e\n\u003cul\u003e\n\u003cli\u003eCollaborating with customers, management, and relevant departments to pinpoint end-user specifications and requirements\u003c/li\u003e\n\u003cli\u003eAnalyzing user feedback to boost software performance\u003c/li\u003e\n\u003cli\u003eCreating technical documentation\u003c/li\u003e\n\u003c/ul\u003e\n\u003cp\u003eLike Solidity, Rust is a popular language that has a wide range of Web3 applications. It\u0026rsquo;s particularly popular due to its use in the Solana blockchain, a potential competitor to Ethereum as the leading platform for dApps. As of March 2022, Solana is currently ranked ninth in market value on \u003ca href=\"https://coinmarketcap.com/\"\u003eCoinMarketCap\u003c/a\u003e, making it the highest-ranked blockchain platform that uses Rust.\u003c/p\u003e\n\u003cp\u003eMost companies require Rust developers to have the following skills:\u003c/p\u003e\n\u003cul\u003e\n\u003cli\u003eC++, since the Rust language is similar to it\u003c/li\u003e\n\u003cli\u003eOther programming languages such as Golang, Python, Java, Node.js, and React.js\u003c/li\u003e\n\u003cli\u003eKnowledge and experience with secure coding practices\u003c/li\u003e\n\u003cli\u003eExperience with network programming skills and multi-threaded programming\u003c/li\u003e\n\u003cli\u003eFamiliarity with \u003ca href=\"https://solana-labs.github.io/solana-web3.js/\"\u003esolana-web3.js\u003c/a\u003e, Solana\u0026rsquo;s official SDK (Rust developers use this SDK to develop Solana dApps)\u003c/li\u003e\n\u003cli\u003eThe ability to create and launch Programs, which are the Solana equivalent of smart contracts\u003c/li\u003e\n\u003cli\u003eExperience with specific operating systems such as Android or Linux\u003c/li\u003e\n\u003cli\u003eExperience with certain databases, such as MongoDB and Apache CouchDB\u003c/li\u003e\n\u003c/ul\u003e\n\u003cp\u003eMany organizations also prefer to hire Rust programmers who have at least three to five years of Rust coding experience since it\u0026rsquo;s a difficult language to master.\u003c/p\u003e\n\u003cp\u003eAccording to the \u003ca href=\"https://blog.rust-lang.org/2020/04/17/Rust-survey-2019.html\"\u003eRust Survey of 2019\u003c/a\u003e, most Rust programmers rated their expertise as 7 out of 10 or below, even though over 68% of them wrote Rust code weekly. Additionally, 22% of Rust users indicated that they didn\u0026rsquo;t feel productive while coding Rust and the steep learning curve was the second most common reason for not using Rust on some projects.\u003c/p\u003e\n\u003cp\u003eAs such, it\u0026rsquo;s important to get a good idea of how familiar and comfortable your potential hire is at Rust. Give them a few test assignments and make sure that they know how to create, test, and debug the programs and apps you want them to create.\u003c/p\u003e\n\u003ch2 id=\"where-to-find-web3-developers\"\u003e\u003cstrong\u003eWhere to Find Web3 Developers\u003c/strong\u003e\u003c/h2\u003e\n\u003cp\u003eWhether you\u0026rsquo;re looking to \u003cstrong\u003ehire Web3 developers\u003c/strong\u003e for a long-term project or a small gig, knowing where you can find the best talent for this specific set of skills can substantially cut down your search time.\u003c/p\u003e\n\u003cp\u003eWeb3, like cryptocurrency in its early days, is driving impressive innovation. It\u0026rsquo;s an excellent opportunity to be a part of the blockchain ecosystem and help formulate the future of the web.\u003c/p\u003e\n\u003cp\u003eUnless you live in a tech hub where you can find talent locally, it\u0026rsquo;s probably easiest to hire remote developers. Here are the best places to find these developers and Web3 engineers:\u003c/p\u003e\n\u003ch3 id=\"crypto-job-boards\"\u003e\u003cstrong\u003eCrypto Job Boards\u003c/strong\u003e\u003c/h3\u003e\n\u003cp\u003eEven while talking about something as cutting edge as Web3, you may find the age-old approach of searching job boards to be quite convenient. However, you\u0026rsquo;ll want to choose a job board that\u0026rsquo;s known for harboring blockchain and crypto developers.\u003c/p\u003e\n\u003cp\u003eThere are several recruitment websites that focus solely on crypto-related jobs. You can increase your chances of finding the right person by posting the position on more than one of these platforms.\u003c/p\u003e\n\u003cp\u003eSome of the most popular online crypto job boards include \u003ca href=\"https://cryptojobslist.com/\"\u003eCrypto Jobs List\u003c/a\u003e, \u003ca href=\"https://crypto.jobs/\"\u003eCryptoJobs\u003c/a\u003e, and \u003ca href=\"https://angel.co/jobs\"\u003eAngel\u003c/a\u003e. Other more general job sites include \u003ca href=\"https://www.indeed.com/\"\u003eIndeed\u003c/a\u003e and \u003ca href=\"https://remote.co/\"\u003eRemote.co\u003c/a\u003e.\u003c/p\u003e\n\u003ch3 id=\"linkedin\"\u003e\u003cstrong\u003eLinkedIn\u003c/strong\u003e\u003c/h3\u003e\n\u003cp\u003eLinkedIn is another online job board, but it\u0026rsquo;s also a social media platform. Many startups begin their talent scouting here.\u003c/p\u003e\n\u003cp\u003eNot only do you have the opportunity to post \u003cstrong\u003eWeb3 development jobs\u003c/strong\u003e on LinkedIn, but you can also search for professionals with experience by viewing the profiles of prospective employees. Profiles present workers\u0026rsquo; skills, experience, and education, and if you like someone, you can communicate with them directly on the website or app.\u003c/p\u003e\n\u003cp\u003eWhile LinkedIn is an excellent place to find a developer, it also provides a great platform for promoting your business, especially if you\u0026rsquo;re looking for financing. It offers opportunities to show off the talent you hire as well, to make your venture appear even more valuable.\u003c/p\u003e\n\u003ch3 id=\"talent-marketplaces\"\u003e\u003cstrong\u003eTalent Marketplaces\u003c/strong\u003e\u003c/h3\u003e\n\u003cp\u003eOnline talent marketplaces are another viable option when searching for Web3 developers. These usually have both remote workers and freelancers, so you\u0026rsquo;ll first need to figure out exactly the kind of worker you need.\u003c/p\u003e\n\u003cp\u003eDo you want a permanent member of the team? Do you want a contractual freelancer? These are serious considerations. For example, for long-haul collaboration, you\u0026rsquo;d likely want the developer to be an employee of the company.\u003c/p\u003e\n\u003cp\u003eThere\u0026rsquo;s nothing wrong with going with a freelance developer, provided this kind of relationship meets your needs and you can find someone suitable. But if you\u0026rsquo;re looking to embed developers in your team and hire them permanently, Revelo is an excellent place to start. You\u0026rsquo;ll be connected with top-notch remote talent specializing in Web3 engineering or development, or whatever technology you need to grow your business.\u003c/p\u003e\n\u003cp\u003eOne of the most significant benefits of using Revelo is that the developers are pre-screened, so the skills and experience they list on their profile are what you\u0026rsquo;ll get. Therefore, there\u0026rsquo;s no need to confirm their experience — you can just move along with the interviewing process.\u003c/p\u003e\n\u003ch2 id=\"how-to-hire-web3-developers\"\u003e\u003cstrong\u003eHow to Hire Web3 Developers\u003c/strong\u003e\u003c/h2\u003e\n\u003cp\u003eYou probably don\u0026rsquo;t want to spend endless hours reviewing resume after resume and conducting dozens of interviews. At the same time, you also don\u0026rsquo;t want to miss out on good talent by overlooking their applications.\u003c/p\u003e\n\u003cp\u003eTo help you pick out the best from the rest, here are some examples of job postings and some guidelines for the interviews themselves.\u003c/p\u003e\n\u003cp\u003eIf you find hiring daunting, don\u0026rsquo;t worry — hiring developers doesn\u0026rsquo;t require the formal interviews, group discussions, or IQ tests that many big corporations use. If you\u0026rsquo;re all for decentralization anyway, you might as well do things a little differently than more centralized corporations.\u003c/p\u003e\n\u003ch3 id=\"web3-developer-job-post-example\"\u003e\u003cstrong\u003eWeb3 Developer Job Post Example\u003c/strong\u003e\u003c/h3\u003e\n\u003cp\u003eThe first thing you need to nail is the job post itself. Whether you choose to go with a job board, LinkedIn, or a talent marketplace, you\u0026rsquo;ll need to define the position you\u0026rsquo;re offering.\u003c/p\u003e\n\u003cp\u003eThis is important because, believe it or not, many recruiters and contractors end up using the wrong terms in their posts or adding too much detail. This can cause candidates to overlook the most important requirements of the position. In these cases, you\u0026rsquo;ll end up with irrelevant resumes and often too many of them to sift through.\u003c/p\u003e\n\u003cp\u003eWhen you\u0026rsquo;re looking to \u003cstrong\u003ehire Web3 developers\u003c/strong\u003e, the post should be direct. It should address that you\u0026rsquo;re looking for a blockchain developer who specializes in Web3 development and has the right tech stack to support it.\u003c/p\u003e\n\u003cp\u003eIdeally, you would want people with experience working with blockchain to apply. So, make a list of the relevant keywords to put in your post. Those keywords will also help the post rank better on search engines, so anyone who types those keywords will see your job posting.\u003c/p\u003e\n\u003cp\u003eTo help you write an immaculate job post to \u003cstrong\u003ehire Web3 programmer\u003c/strong\u003e, here is an example:\u003c/p\u003e\n\u003cp\u003e\u003cem\u003e\u0026ldquo;We are looking for a passionate and experienced Web3 developer to help us build our project XYZ.\u003c/em\u003e\u003c/p\u003e\n\u003cp\u003e\u003cem\u003eOur ideal candidate is someone with experience developing blockchain-based applications, especially those for Web3 (dApps). They should be aware of and use the latest technologies in crypto, blockchain, and Web3 development. With collaborative energy and willingness to learn, the right candidate will readily communicate with and assist other team members on the project.\u003c/em\u003e\u003c/p\u003e\n\u003cp\u003e\u003cem\u003eNecessary Qualifications:\u003c/em\u003e\u003c/p\u003e\n\u003cul\u003e\n\u003cli\u003e\u003cem\u003eExperience with blockchain development\u003c/em\u003e\u003c/li\u003e\n\u003cli\u003e\u003cem\u003eExperience with Solidity and dApp development\u003c/em\u003e\u003c/li\u003e\n\u003cli\u003e\u003cem\u003eBasic knowledge of front-end development of dApps to bridge the gap between the complex blockchain and usable Web 2.0–based interface\u003c/em\u003e\u003c/li\u003e\n\u003cli\u003e\u003cem\u003eAbility to work remotely and collaborate with the team when necessary\u003c/em\u003e\u003c/li\u003e\n\u003c/ul\u003e\n\u003cp\u003e\u003cem\u003eResponsibilities\u003c/em\u003e\u003c/p\u003e\n\u003cul\u003e\n\u003cli\u003e\u003cem\u003eHelp create scalable applications with Ethereum blockchain\u003c/em\u003e\u003c/li\u003e\n\u003cli\u003e\u003cem\u003eAnalyze and solve problems in the development phase\u003c/em\u003e\u003c/li\u003e\n\u003cli\u003e\u003cem\u003eCommunicate and collaborate with back-end and front-end teams\u003c/em\u003e\u003c/li\u003e\n\u003cli\u003e\u003cem\u003eDevelop and optimize smart contracts\u003c/em\u003e\u003c/li\u003e\n\u003cli\u003e\u003cem\u003eHelp document the development process of the blockchain and dApps\u003c/em\u003e\u003c/li\u003e\n\u003cli\u003e\u003cem\u003eOptimize development and implementation\u003c/em\u003e\u003c/li\u003e\n\u003cli\u003e\u003cem\u003eAdopt best practices for Web3 and blockchain development\u0026rdquo;\u003c/em\u003e\u003c/li\u003e\n\u003c/ul\u003e\n\u003cp\u003eYou can follow this layout or create your own based on this sample structure:\u003c/p\u003e\n\u003cp\u003eBegin by briefly introducing your company or the idea of the project without giving too much away, especially if you\u0026rsquo;ve come up with a new idea.\u003c/p\u003e\n\u003cp\u003eThen, talk about what the ideal candidate should have, including the desired skills and qualifications. Don\u0026rsquo;t be too general with these but try to be straightforward. Keep in mind that Web3 is relatively new, so asking for 5 or 10 years of specific experience may be unreasonable and limit who applies. This could cause you to miss out on exceptionally qualified candidates.\u003c/p\u003e\n\u003cp\u003eConsider adding a pay rate or range in the job posting. This transparency will ensure that neither you nor the candidates waste time with interviews or application materials if your expectations are drastically different.\u003c/p\u003e\n\u003cp\u003eLastly, list the responsibilities that the developer will have. Include both technical and non-technical responsibilities that you\u0026rsquo;ll expect of a new hire.\u003c/p\u003e\n\u003cp\u003eRemember that a clearer job description will attract more relevant applicants.\u003c/p\u003e\n\u003ch3 id=\"web3-developer-interviews\"\u003e\u003cstrong\u003eWeb3 Developer Interviews\u003c/strong\u003e\u003c/h3\u003e\n\u003cp\u003eOnce you have shortlisted the candidates, you can begin setting up interviews. You already established during your initial review that they meet the requirements you defined in the job post. Now, it\u0026rsquo;s time to get to know them a bit better.\u003c/p\u003e\n\u003cp\u003eYou\u0026rsquo;ll most likely be conducting the interview remotely via a web meeting tool, like Zoom.\u003c/p\u003e\n\u003cp\u003eIt\u0026rsquo;s always a good idea to formulate your interview questions beforehand. You should write down your most significant concerns with hiring Web3 engineers and keep each candidate\u0026rsquo;s resume handy either in paper format or on your computer screen.\u003c/p\u003e\n\u003cp\u003eAsk them how they plan on working remotely, especially if they are located in a different region with a significant time zone difference. Discuss the communication tools and methods of your team and whether they have any experience with those.\u003c/p\u003e\n\u003cp\u003eMake sure to formulate these discussions and concerns into a set of questions and create a smooth flow. For example, consider dividing the interview into technical and non-technical sections. However, it\u0026rsquo;s not necessary to stick to your script. If you think of something during the interview, you can go ahead and ask and come back to your pre-written questions after.\u003c/p\u003e\n\u003cp\u003eLastly, discuss their salary or pay expectations. Do they prefer to be paid hourly, annually, or by the project?\u003c/p\u003e\n\u003cp\u003eHere are some sample questions you can use in your interviews:\u003c/p\u003e\n\u003cul\u003e\n\u003cli\u003eHow do you think Web3 is different from the previous versions of the web?\u003c/li\u003e\n\u003cli\u003eWhat blockchain projects have you been part of? What was your role?\u003c/li\u003e\n\u003cli\u003eWhat Web3 development tools and technology have you used before?\u003c/li\u003e\n\u003cli\u003eWhat coding languages are you experienced in?\u003c/li\u003e\n\u003cli\u003eHow do you respond to feedback from other team members?\u003c/li\u003e\n\u003cli\u003eWhat testing methods do you use for your code?\u003c/li\u003e\n\u003cli\u003eWhat is your preferred mode of communication?\u003c/li\u003e\n\u003c/ul\u003e\n\u003cp\u003eDon\u0026rsquo;t forget to keep the mood light and friendly!\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eRelated:\u003c/strong\u003e \u003ca href=\"https://www.revelo.com/blog/outsourcing-software-development-to-bolivia\"\u003e\u003cstrong\u003eOutsourcing Software Development to Bolivia: Why You Should Hire Bolivian Developers\u003c/strong\u003e\u003c/a\u003e\u003c/p\u003e\n\u003ch3 id=\"web3-coding-challenges\"\u003e\u003cstrong\u003eWeb3 Coding Challenges\u003c/strong\u003e\u003c/h3\u003e\n\u003cp\u003eNo matter how well the interview went and how experienced the candidate claims to be, it all comes down to their skill.\u003c/p\u003e\n\u003cp\u003eTo measure and confirm their level of knowledge and experience in \u003cstrong\u003eWeb3 development\u003c/strong\u003e, you should conduct several small coding challenges. These can be presented to the candidates in written form or as video presentations to explain the purpose of the assignment. The task shouldn\u0026rsquo;t be longer than an hour unless you plan to pay them for their time.\u003c/p\u003e\n\u003cp\u003eIf you\u0026rsquo;re hiring a developer to carry out different coding tasks, you should create different coding challenges, each dealing with a specific need of your project — for example, creating nodes, writing smart contracts, or developing the front end of a Web3 application.\u003c/p\u003e\n\u003cp\u003eAnother popular approach to coding challenges is pair programming. In these tests, two developers work together on a problem, either in person or remotely. This is a great way to test their technical skills and their team and communication skills. The code wouldn\u0026rsquo;t be written by both of the developers, however. One would formulate the code or define the approach, while the other would actually write it. You can reverse the roles for a second test.\u003c/p\u003e\n\u003cp\u003eHere are some tips for developing coding challenges:\u003c/p\u003e\n\u003cul\u003e\n\u003cli\u003e\u003cstrong\u003eUtilize problems related to your project.\u003c/strong\u003e You want to see the developers working in the context of your application. You should take a problem related to your project and present it as a challenge to see how the candidate might benefit your team.\u003c/li\u003e\n\u003cli\u003e\u003cstrong\u003eFocus on the process, not the result.\u003c/strong\u003e When examining the coding challenge results, don\u0026rsquo;t just look at whether they solved the problem. Even if they didn\u0026rsquo;t quite find the solution, their results can help you get to know how they work and whether they have the potential to learn more.\u003c/li\u003e\n\u003cli\u003e\u003cstrong\u003eUse the same challenge.\u003c/strong\u003e For a single job posting, use the same coding challenge to see how different candidates compare. However, don\u0026rsquo;t reuse the test once you\u0026rsquo;ve hired someone successfully.\u003c/li\u003e\n\u003cli\u003e\u003cstrong\u003eCreate from scratch.\u003c/strong\u003e It\u0026rsquo;s best to create the challenge yourself, using a real problem related to your project. Pre-designed coding tests may not provide the best outcome, and many times the solutions have been published online, which defeats the purpose of testing. If you\u0026rsquo;re not a developer yourself, consider asking your current developers, especially those responsible for testing, to create these tests for you.\u003c/li\u003e\n\u003c/ul\u003e\n\u003ch2 id=\"conclusion\"\u003e\u003cstrong\u003eConclusion\u003c/strong\u003e\u003c/h2\u003e\n\u003cp\u003e\u003cstrong\u003eHiring Web3 developers\u003c/strong\u003e is not difficult if you search in the right places, conduct the interviews effectively, and design a solid coding test. Even if you believe a candidate is not seasoned, you can always train them. However, they should have the drive to learn more.\u003c/p\u003e\n\u003cp\u003eRevelo can solve your talent hunting issues by presenting some of the best developers from Latin America to become an integral part of your team and take your Web3 project to the next level. \u003ca href=\"https://www.revelo.com/hire\"\u003eContact us\u003c/a\u003e and get matched with vetted developers within 3 days.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eSOURCE:\u003c/strong\u003e \u003ca href=\"https://www.revelo.com/blog/hire-web3-developers#toc-what-is-web3-\"\u003e\u003cstrong\u003eREVELO\u003c/strong\u003e\u003c/a\u003e\u003c/p\u003e\n","date_published":"2022-11-04T09:36:00+03:00","image":"https://ajulu.netlify.app/images/629e4c88792d375fdca6d6a4_5-hire-web3-developers_-everything-you-need-to-know-to-find-top-web3-engineers.png","tags":["tech","technology","blockchain","web3","web3 developer","web3 developers","web3 engineers","smart contract","nodes","cryptocurrency wallets","web3 sdks","dapps","blockchain software developer","core blockchain developer","solidity","rust"]},{"id":"https://ajulu.netlify.app/posts/an-introduction-in-blockchain-cryptocurrencies-tokens-smart-contracts-nfts-web3-defi-gamefi-and-dein-crash-course/","url":"https://ajulu.netlify.app/posts/an-introduction-in-blockchain-cryptocurrencies-tokens-smart-contracts-nfts-web3-defi-gamefi-and-dein-crash-course/","title":"An Introduction in Blockchain, Cryptocurrencies, Tokens, Smart Contracts","summary":"Hello there, today I\u0026rsquo;ll be covering definitions:\nWhat is blockchain? A blockchain is a growing list of records, called blocks, that are linked together using cryptography. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data (generally represented as a Merkle tree). The timestamp proves that the transaction data existed when the block was published in order to get into its hash. As blocks each contain information about the block previous to it, they form a chain, with each additional block reinforcing the ones before it. Therefore, blockchains are resistant to modification of their data because once recorded, the data in any given block cannot be altered retroactively without altering all subsequent blocks.\n","content_html":"\u003cp\u003eHello there, today I\u0026rsquo;ll be covering definitions:\u003c/p\u003e\n\u003ch2 id=\"what-is-blockchain\"\u003eWhat is blockchain?\u003c/h2\u003e\n\u003cp\u003eA \u003cstrong\u003eblockchain\u003c/strong\u003e is a growing list of records, called \u003cem\u003eblocks\u003c/em\u003e, that are linked together using \u003ca href=\"https://en.wikipedia.org/wiki/Cryptography\" title=\"Cryptography\"\u003ecryptography\u003c/a\u003e. Each block contains a \u003ca href=\"https://en.wikipedia.org/wiki/Cryptographic_hash_function\" title=\"Cryptographic hash function\"\u003ecryptographic hash\u003c/a\u003e of the previous block, a \u003ca href=\"https://en.wikipedia.org/wiki/Trusted_timestamping\" title=\"Trusted timestamping\"\u003etimestamp\u003c/a\u003e, and transaction data (generally represented as a \u003ca href=\"https://en.wikipedia.org/wiki/Merkle_tree\" title=\"Merkle tree\"\u003eMerkle tree\u003c/a\u003e). The timestamp proves that the transaction data existed when the block was published in order to get into its hash. As blocks each contain information about the block previous to it, they form a chain, with each additional block reinforcing the ones before it. Therefore, blockchains are resistant to modification of their data because once recorded, the data in any given block cannot be altered retroactively without altering all subsequent blocks.\u003c/p\u003e\n\u003cp\u003e\u003ca href=\"https://stephenajulu.com/blog/what-is-blockchain-how-does-it-work-blockchain-explained/\"\u003e\u003cstrong\u003eLearn more\u003c/strong\u003e\u003c/a\u003e\u003c/p\u003e\n\u003ch2 id=\"what-is-a-cryptocurrency\"\u003eWhat is a cryptocurrency?\u003c/h2\u003e\n\u003cp\u003eA \u003cstrong\u003ecryptocurrency\u003c/strong\u003e is any form of currency that exists digitally or virtually and uses cryptography to secure transactions. Cryptocurrencies don’t have a central issuing or regulating authority, instead, they use a decentralized system to record transactions and issue new units.\u003c/p\u003e\n\u003cp\u003e\u003ca href=\"https://stephenajulu.com/blog/how-to-buy-your-first-cryptocurrency/\"\u003e\u003cstrong\u003eHere is how you can buy your first cryptocurrency\u003c/strong\u003e\u003c/a\u003e\u003c/p\u003e\n\u003ch2 id=\"what-are-crypto-tokens\"\u003eWhat Are Crypto Tokens?\u003c/h2\u003e\n\u003cp\u003eThe term token refers to a special virtual currency token or how cryptocurrencies are denominated. These tokens represent fungible and tradable assets or utilities that reside on their own \u003ca href=\"https://stephenajulu.com/blog/what-is-blockchain-how-does-it-work-blockchain-explained/\"\u003eblockchains\u003c/a\u003e. Crypto tokens are often used to fundraise for crowd sales, but they can also serve as a substitute for other things. These tokens are usually created, distributed, sold, and circulated through the standard \u003ca href=\"https://www.investopedia.com/terms/i/initial-coin-offering-ico.asp\"\u003einitial coin offering (ICO)\u003c/a\u003e process, which involves a crowdfunding exercise to fund project development.\u003c/p\u003e\n\u003ch2 id=\"what-is-a-smart-contract\"\u003eWhat is a smart contract?\u003c/h2\u003e\n\u003cp\u003eA \u003cstrong\u003esmart contract\u003c/strong\u003e is a \u003ca href=\"https://en.wikipedia.org/wiki/Computer_program\" title=\"Computer program\"\u003ecomputer program\u003c/a\u003e or a \u003ca href=\"https://en.wikipedia.org/wiki/Transaction_Protocol_Data_Unit\" title=\"Transaction Protocol Data Unit\"\u003etransaction protocol\u003c/a\u003e that is intended to automatically execute, control, or document legally relevant events and actions according to the terms of a \u003ca href=\"https://en.wikipedia.org/wiki/Contract\" title=\"Contract\"\u003econtract\u003c/a\u003e or an agreement. The objectives of smart contracts are the reduction of the need for trusted intermediates, arbitrations, and enforcement costs, fraud losses, as well as the reduction of malicious and accidental exceptions.\u003c/p\u003e\n\u003cp\u003e\u003ca href=\"https://stephenajulu.com/blog/what-are-smart-contracts-smart-contracts-explained/\"\u003e\u003cstrong\u003eLearn more.\u003c/strong\u003e\u003c/a\u003e\u003c/p\u003e\n\u003ch2 id=\"what-is-an-nft\"\u003eWhat is an NFT?\u003c/h2\u003e\n\u003cp\u003eA \u003cstrong\u003enon-fungible token\u003c/strong\u003e (\u003cstrong\u003eNFT\u003c/strong\u003e) is a unique and non-interchangeable unit of data stored on a digital \u003ca href=\"https://en.wikipedia.org/wiki/Ledger\" title=\"Ledger\"\u003eledger\u003c/a\u003e (\u003ca href=\"https://en.wikipedia.org/wiki/Blockchain\" title=\"Blockchain\"\u003eblockchain\u003c/a\u003e). NFTs can be associated with reproducible digital files such as photos, videos, and audio. NFTs use a digital ledger to provide a public \u003ca href=\"https://en.wikipedia.org/wiki/Certificate_of_authenticity\" title=\"Certificate of authenticity\"\u003ecertificate of authenticity\u003c/a\u003e or \u003ca href=\"https://en.wikipedia.org/wiki/Title_(property)\" title=\"Title (property)\"\u003eproof of ownership\u003c/a\u003e, but it does not restrict the sharing or copying of the underlying digital file. The lack of interchangeability (\u003ca href=\"https://en.wikipedia.org/wiki/Fungibility\" title=\"Fungibility\"\u003efungibility\u003c/a\u003e) distinguishes NFTs from blockchain \u003ca href=\"https://en.wikipedia.org/wiki/Cryptocurrencies\" title=\"Cryptocurrencies\"\u003ecryptocurrencies\u003c/a\u003e, such as \u003ca href=\"https://en.wikipedia.org/wiki/Bitcoin\" title=\"Bitcoin\"\u003eBitcoin\u003c/a\u003e.\u003c/p\u003e\n\u003cp\u003e\u003ca href=\"https://stephenajulu.com/blog/what-are-nfts-non-fungible-tokens-explained/\"\u003e\u003cstrong\u003eLearn more.\u003c/strong\u003e\u003c/a\u003e\u003c/p\u003e\n\u003ch2 id=\"what-is-web-3\"\u003eWhat is Web 3?\u003c/h2\u003e\n\u003cp\u003e\u003cstrong\u003eWeb3,\u003c/strong\u003e also known as \u003cstrong\u003eWeb 3.0\u003c/strong\u003e, is an idea for a new iteration of the \u003ca href=\"https://en.wikipedia.org/wiki/Internet\" title=\"Internet\"\u003eInternet\u003c/a\u003e that is based on public \u003ca href=\"https://en.wikipedia.org/wiki/Blockchain\" title=\"Blockchain\"\u003eblockchains\u003c/a\u003e. The term was coined in 2014 by \u003ca href=\"https://en.wikipedia.org/wiki/Ethereum\" title=\"Ethereum\"\u003eEthereum\u003c/a\u003e co-founder \u003ca href=\"https://en.wikipedia.org/wiki/Gavin_Wood\" title=\"Gavin Wood\"\u003eGavin Wood\u003c/a\u003e, and the idea gained interest in 2020 and 2021 from \u003ca href=\"https://en.wikipedia.org/wiki/Cryptocurrency\" title=\"Cryptocurrency\"\u003ecryptocurrency\u003c/a\u003e enthusiasts, large technology companies, and venture capitalist firms.\u003c/p\u003e\n\u003cp\u003e\u003ca href=\"https://stephenajulu.com/blog/web-3.0-explained-part-1/\"\u003e\u003cstrong\u003eLearn more.\u003c/strong\u003e\u003c/a\u003e\u003c/p\u003e\n\u003ch2 id=\"what-is-defi\"\u003eWhat is DeFi?\u003c/h2\u003e\n\u003cp\u003e\u003cstrong\u003eDecentralized finance\u003c/strong\u003e (commonly referred to as \u003cstrong\u003eDeFi\u003c/strong\u003e) is a \u003ca href=\"https://en.wikipedia.org/wiki/Blockchain\" title=\"Blockchain\"\u003eblockchain\u003c/a\u003e-based form of finance that does not rely on central financial \u003ca href=\"https://en.wikipedia.org/wiki/Intermediary\" title=\"Intermediary\"\u003eintermediaries\u003c/a\u003e such as \u003ca href=\"https://en.wikipedia.org/wiki/Brokerage\" title=\"Brokerage\"\u003ebrokerages\u003c/a\u003e, \u003ca href=\"https://en.wikipedia.org/wiki/Exchange_(organized_market)\" title=\"Exchange (organized market)\"\u003eexchanges\u003c/a\u003e, or \u003ca href=\"https://en.wikipedia.org/wiki/Bank\" title=\"Bank\"\u003ebanks\u003c/a\u003e to offer traditional \u003ca href=\"https://en.wikipedia.org/wiki/Financial_instrument\" title=\"Financial instrument\"\u003efinancial instruments\u003c/a\u003e, and instead utilizes \u003ca href=\"https://en.wikipedia.org/wiki/Smart_contract\" title=\"Smart contract\"\u003esmart contracts\u003c/a\u003e on blockchains, the most common being \u003ca href=\"https://en.wikipedia.org/wiki/Ethereum\" title=\"Ethereum\"\u003eEthereum\u003c/a\u003e.[\u003ca href=\"https://en.wikipedia.org/wiki/Wikipedia:Citation_needed\" title=\"Wikipedia:Citation needed\"\u003e\u003cem\u003ecitation needed\u003c/em\u003e\u003c/a\u003e] DeFi platforms allow people to lend or borrow funds from others, speculate on price movements on a range of assets using derivatives, trade \u003ca href=\"https://en.wikipedia.org/wiki/Cryptocurrencies\" title=\"Cryptocurrencies\"\u003ecryptocurrencies\u003c/a\u003e, insure against risks, and earn \u003ca href=\"https://en.wikipedia.org/wiki/Interest\" title=\"Interest\"\u003einterest\u003c/a\u003e in savings-like accounts. DeFi uses a layered architecture and highly composable building blocks.\u003c/p\u003e\n\u003cp\u003e\u003ca href=\"https://stephenajulu.com/blog/decentralized-finance-defined/\"\u003e\u003cstrong\u003eLearn more.\u003c/strong\u003e\u003c/a\u003e\u003c/p\u003e\n\u003ch2 id=\"what-is-gamefi\"\u003eWhat is GameFi?\u003c/h2\u003e\n\u003cp\u003e\u003cstrong\u003eGameFi\u003c/strong\u003e also known as Game Finance, is the gamification of financial systems to create profit from playing play-to-earn crypto games.\u003c/p\u003e\n\u003cp\u003e\u003ca href=\"https://stephenajulu.com/blog/gamers-assemble-play-games-to-earn-free-crypto/\"\u003e\u003cstrong\u003eLearn more.\u003c/strong\u003e\u003c/a\u003e\u003c/p\u003e\n\u003ch2 id=\"what-is-dein\"\u003eWhat is DeIn?\u003c/h2\u003e\n\u003cp\u003eDecentralized Insurance also known as DeIn or DeFi Insurance is where rather than purchasing insurance coverage from one specific individual or company, you can purchase coverage from a decentralized pool of insurance providers. Interestingly, any individual or company can work as an insurance provider by locking up capital in the decentralized capital pool. The individual or company providing capital to the pool can qualify as a \u003ca href=\"https://101blockchains.com/how-liquidity-provider-tokens-work/\"\u003eliquidity provider\u003c/a\u003e.\u003c/p\u003e\n\u003cp\u003e\u003ca href=\"https://stephenajulu.com/blog/decentralized-insurance-built-on-the-blockchain-is-a-game-changer/\"\u003e\u003cstrong\u003eLearn more.\u003c/strong\u003e\u003c/a\u003e\u003c/p\u003e\n\u003ch3 id=\"conclusion\"\u003eConclusion\u003c/h3\u003e\n\u003cp\u003eI am a follower of the above simply because of how much disruption of traditional methods blockchain can create. In one way or the other blockchain technology is the future of processing. Currently, as of writing this post, there are Decentralized Supply Chain Management, Decentralized Full Proof Voting, Decentralized Real Estate, Decentralized Data Protection, and Decentralized Loyalty + Royalty Programs.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eLearn more here:\u003c/strong\u003e \u003ca href=\"https://stephenajulu.com/blog/the-importance-and-benefits-of-blockchain-technology/\"\u003e\u003cstrong\u003eThe Importance and Benefits of Blockchain Technology\u003c/strong\u003e\u003c/a\u003e\u003c/p\u003e\n\u003cp\u003eBlockchain \u003cstrong\u003eincreases trust, security, transparency, and the traceability of data shared across a business network\u003c/strong\u003e — and delivers cost savings with new efficiencies. Blockchain for business uses a shared and immutable ledger that can only be accessed by members with permission.\u003c/p\u003e\n","date_published":"2022-08-21T18:20:00+03:00","image":"https://ajulu.netlify.app/images/1644357966865.png","tags":["blockchain","cryptocurrency","token","smart contract","non fungible token","web3","decentralized finance","game finance","decentralized insuarance","crypto","nft","defi","gamefi","dein","cryptocurrencies","tokens","tokenomics"]},{"id":"https://ajulu.netlify.app/posts/cryptocurrency-blockchain-smart-contract-nft-web-3-defi-and-gamefi-101-definition/","url":"https://ajulu.netlify.app/posts/cryptocurrency-blockchain-smart-contract-nft-web-3-defi-and-gamefi-101-definition/","title":"Cryptocurrency, Blockchain, Smart Contract, NFT, Web 3, DeFi and GameFi 101:","summary":"What is a cryptocurrency? A cryptocurrency is any form of currency that exists digitally or virtually and uses cryptography to secure transactions. Cryptocurrencies don\u0026rsquo;t have a central issuing or regulating authority, instead, they use a decentralized system to record transactions and issue new units.\nHere is how you can buy your first cryptocurrency\nWhat is blockchain? A blockchain is a growing list of records, called blocks, that are linked together using cryptography. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data (generally represented as a Merkle tree). The timestamp proves that the transaction data existed when the block was published in order to get into its hash. As blocks each contain information about the block previous to it, they form a chain, with each additional block reinforcing the ones before it. Therefore, blockchains are resistant to modification of their data because once recorded, the data in any given block cannot be altered retroactively without altering all subsequent blocks.\n","content_html":"\u003ch3 id=\"what-is-a-cryptocurrency\"\u003eWhat is a cryptocurrency?\u003c/h3\u003e\n\u003cp\u003eA \u003cstrong\u003ecryptocurrency\u003c/strong\u003e is any form of currency that exists digitally or virtually and uses cryptography to secure transactions. Cryptocurrencies don\u0026rsquo;t have a central issuing or regulating authority, instead, they use a decentralized system to record transactions and issue new units.\u003c/p\u003e\n\u003cp\u003e\u003ca href=\"https://stephenajulu.com/blog/how-to-buy-your-first-cryptocurrency/\"\u003e\u003cstrong\u003eHere is how you can buy your first cryptocurrency\u003c/strong\u003e\u003c/a\u003e\u003c/p\u003e\n\u003ch3 id=\"what-is-blockchain\"\u003eWhat is blockchain?\u003c/h3\u003e\n\u003cp\u003eA \u003cstrong\u003eblockchain\u003c/strong\u003e is a growing list of records, called \u003cem\u003eblocks\u003c/em\u003e, that are linked together using \u003ca href=\"https://en.wikipedia.org/wiki/Cryptography\" title=\"Cryptography\"\u003ecryptography\u003c/a\u003e. Each block contains a \u003ca href=\"https://en.wikipedia.org/wiki/Cryptographic_hash_function\" title=\"Cryptographic hash function\"\u003ecryptographic hash\u003c/a\u003e of the previous block, a \u003ca href=\"https://en.wikipedia.org/wiki/Trusted_timestamping\" title=\"Trusted timestamping\"\u003etimestamp\u003c/a\u003e, and transaction data (generally represented as a \u003ca href=\"https://en.wikipedia.org/wiki/Merkle_tree\" title=\"Merkle tree\"\u003eMerkle tree\u003c/a\u003e). The timestamp proves that the transaction data existed when the block was published in order to get into its hash. As blocks each contain information about the block previous to it, they form a chain, with each additional block reinforcing the ones before it. Therefore, blockchains are resistant to modification of their data because once recorded, the data in any given block cannot be altered retroactively without altering all subsequent blocks.\u003c/p\u003e\n\u003cp\u003e\u003ca href=\"https://stephenajulu.com/blog/what-is-blockchain-how-does-it-work-blockchain-explained/\"\u003e\u003cstrong\u003eLearn more.\u003c/strong\u003e\u003c/a\u003e\u003c/p\u003e\n\u003ch3 id=\"what-is-a-smart-contract\"\u003eWhat is a smart contract?\u003c/h3\u003e\n\u003cp\u003eA \u003cstrong\u003esmart contract\u003c/strong\u003e is a \u003ca href=\"https://en.wikipedia.org/wiki/Computer_program\" title=\"Computer program\"\u003ecomputer program\u003c/a\u003e or a \u003ca href=\"https://en.wikipedia.org/wiki/Transaction_Protocol_Data_Unit\" title=\"Transaction Protocol Data Unit\"\u003etransaction protocol\u003c/a\u003e that is intended to automatically execute, control, or document legally relevant events and actions according to the terms of a \u003ca href=\"https://en.wikipedia.org/wiki/Contract\" title=\"Contract\"\u003econtract\u003c/a\u003e or an agreement. The objectives of smart contracts are the reduction of need in trusted intermediates, arbitrations, and enforcement costs, fraud losses, as well as the reduction of malicious and accidental exceptions.\u003c/p\u003e\n\u003cp\u003e\u003ca href=\"https://stephenajulu.com/blog/what-are-smart-contracts-smart-contracts-explained/\"\u003e\u003cstrong\u003eLearn more.\u003c/strong\u003e\u003c/a\u003e\u003c/p\u003e\n\u003ch3 id=\"what-is-an-nft\"\u003eWhat is an NFT?\u003c/h3\u003e\n\u003cp\u003eA \u003cstrong\u003enon-fungible token\u003c/strong\u003e (\u003cstrong\u003eNFT\u003c/strong\u003e) is a unique and non-interchangeable unit of data stored on a digital \u003ca href=\"https://en.wikipedia.org/wiki/Ledger\" title=\"Ledger\"\u003eledger\u003c/a\u003e (\u003ca href=\"https://en.wikipedia.org/wiki/Blockchain\" title=\"Blockchain\"\u003eblockchain\u003c/a\u003e). NFTs can be associated with reproducible digital files such as photos, videos, and audio. NFTs use a digital ledger to provide a public \u003ca href=\"https://en.wikipedia.org/wiki/Certificate_of_authenticity\" title=\"Certificate of authenticity\"\u003ecertificate of authenticity\u003c/a\u003e or \u003ca href=\"https://en.wikipedia.org/wiki/Title_(property)\" title=\"Title (property)\"\u003eproof of ownership\u003c/a\u003e, but it does not restrict the sharing or copying of the underlying digital file. The lack of interchangeability (\u003ca href=\"https://en.wikipedia.org/wiki/Fungibility\" title=\"Fungibility\"\u003efungibility\u003c/a\u003e) distinguishes NFTs from blockchain \u003ca href=\"https://en.wikipedia.org/wiki/Cryptocurrencies\" title=\"Cryptocurrencies\"\u003ecryptocurrencies\u003c/a\u003e, such as \u003ca href=\"https://en.wikipedia.org/wiki/Bitcoin\" title=\"Bitcoin\"\u003eBitcoin\u003c/a\u003e.\u003c/p\u003e\n\u003cp\u003e\u003ca href=\"https://stephenajulu.com/blog/what-are-nfts-non-fungible-tokens-explained/\"\u003e\u003cstrong\u003eLearn more.\u003c/strong\u003e\u003c/a\u003e\u003c/p\u003e\n\u003ch3 id=\"what-is-web-3\"\u003eWhat is Web 3?\u003c/h3\u003e\n\u003cp\u003e\u003cstrong\u003eWeb3,\u003c/strong\u003e also known as \u003cstrong\u003eWeb 3.0\u003c/strong\u003e, is an idea for a new iteration of the \u003ca href=\"https://en.wikipedia.org/wiki/Internet\" title=\"Internet\"\u003eInternet\u003c/a\u003e that is based on public \u003ca href=\"https://en.wikipedia.org/wiki/Blockchain\" title=\"Blockchain\"\u003eblockchains\u003c/a\u003e. The term was coined in 2014 by \u003ca href=\"https://en.wikipedia.org/wiki/Ethereum\" title=\"Ethereum\"\u003eEthereum\u003c/a\u003e co-founder \u003ca href=\"https://en.wikipedia.org/wiki/Gavin_Wood\" title=\"Gavin Wood\"\u003eGavin Wood\u003c/a\u003e, and the idea gained interest in 2020 and 2021 from \u003ca href=\"https://en.wikipedia.org/wiki/Cryptocurrency\" title=\"Cryptocurrency\"\u003ecryptocurrency\u003c/a\u003e enthusiasts, large technology companies, and venture capitalist firms.\u003c/p\u003e\n\u003cp\u003e\u003ca href=\"https://stephenajulu.com/blog/web-3.0-explained-part-1/\"\u003e\u003cstrong\u003eLearn more.\u003c/strong\u003e\u003c/a\u003e\u003c/p\u003e\n\u003ch3 id=\"what-is-defi\"\u003eWhat is DeFi?\u003c/h3\u003e\n\u003cp\u003e\u003cstrong\u003eDecentralized finance\u003c/strong\u003e (commonly referred to as \u003cstrong\u003eDeFi\u003c/strong\u003e) is a \u003ca href=\"https://en.wikipedia.org/wiki/Blockchain\" title=\"Blockchain\"\u003eblockchain\u003c/a\u003e-based form of finance that does not rely on central financial \u003ca href=\"https://en.wikipedia.org/wiki/Intermediary\" title=\"Intermediary\"\u003eintermediaries\u003c/a\u003e such as \u003ca href=\"https://en.wikipedia.org/wiki/Brokerage\" title=\"Brokerage\"\u003ebrokerages\u003c/a\u003e, \u003ca href=\"https://en.wikipedia.org/wiki/Exchange_(organized_market)\" title=\"Exchange (organized market)\"\u003eexchanges\u003c/a\u003e, or \u003ca href=\"https://en.wikipedia.org/wiki/Bank\" title=\"Bank\"\u003ebanks\u003c/a\u003e to offer traditional \u003ca href=\"https://en.wikipedia.org/wiki/Financial_instrument\" title=\"Financial instrument\"\u003efinancial instruments\u003c/a\u003e, and instead utilizes \u003ca href=\"https://en.wikipedia.org/wiki/Smart_contract\" title=\"Smart contract\"\u003esmart contracts\u003c/a\u003e on blockchains, the most common being \u003ca href=\"https://en.wikipedia.org/wiki/Ethereum\" title=\"Ethereum\"\u003eEthereum\u003c/a\u003e.[\u003ca href=\"https://en.wikipedia.org/wiki/Wikipedia:Citation_needed\" title=\"Wikipedia:Citation needed\"\u003e\u003cem\u003ecitation needed\u003c/em\u003e\u003c/a\u003e] DeFi platforms allow people to lend or borrow funds from others, speculate on price movements on a range of assets using derivatives, trade \u003ca href=\"https://en.wikipedia.org/wiki/Cryptocurrencies\" title=\"Cryptocurrencies\"\u003ecryptocurrencies\u003c/a\u003e, insure against risks, and earn \u003ca href=\"https://en.wikipedia.org/wiki/Interest\" title=\"Interest\"\u003einterest\u003c/a\u003e in savings-like accounts. DeFi uses a layered architecture and highly composable building blocks.\u003c/p\u003e\n\u003cp\u003e\u003ca href=\"https://stephenajulu.com/blog/decentralized-finance-defined/\"\u003e\u003cstrong\u003eLearn more.\u003c/strong\u003e\u003c/a\u003e\u003c/p\u003e\n\u003ch3 id=\"what-is-gamefi\"\u003eWhat is GameFi?\u003c/h3\u003e\n\u003cp\u003e\u003cstrong\u003eGameFi\u003c/strong\u003e is also known as Game Finance, is the gamification of financial systems to create profit from playing play-to-earn crypto games.\u003c/p\u003e\n\u003cp\u003e\u003ca href=\"https://stephenajulu.com/blog/gamers-assemble-play-games-to-earn-free-crypto/\"\u003e\u003cstrong\u003eLearn more.\u003c/strong\u003e\u003c/a\u003e\u003c/p\u003e\n","date_published":"2021-12-16T07:15:00+03:00","image":"https://ajulu.netlify.app/images/newhype101definition.png","tags":["cryptocurrency","blockchain","smart contract","nft","web3","nonfungibletoken","decentralizedfinance","defi","gamefi","gamefinance"]}]}