Web3, blockchain, and crypto have become all-encompassing terms and have captured the world’s attention with their incredible benefits and profits. This popularity has also led to numerous jobs in these fields.

Market growth

With an exponentially booming technology market, web3, blockchain, and crypto are expected to further expand and develop. According to reports, web 3.0 blockchain is predicted to be worth around $6,200 by 2023. This market is expected to grow at an impressive CAGR of 44.6% between 2023 and 2030.

While the web 3.0 blockchain market is exceptional, 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% between 2021 and 2030 to reach a value of around $5 billion. The global blockchain market is also growing tremendously and is expected to grow at a CAGR of 8.5-9% between 2020 and 2030, from $5.92 billion in 2021.

Web3

Web 3.0 relies on decentralized applications that give everyone access to participate without allowing the participant to monetize their personal data. Web 3.0 is verifiable, autonomous, permissionless, stateful, and has native integrated payments. Web 3.0 is quite different from the previous web 2.0 version as it runs on blockchains and has many networks and servers to rely on.

block chain

Blockchain is a distributed database that shares the data between the nodes of a computer network and stores its data in electronic form, that is, in digital format. In blockchain, information is collected in groups called blocks.

These blocks store certain capacities and when this capacity is filled it is linked with the previously filled block forming a chain of data and hence the term blockchain. Blockchain aims to allow digital information to be recorded and distributed, but it does not allow the data to be edited. Blockchains have built a foundation for immutable ledgers, meaning having the ability to remain unchanged.

crypto

The term crypto refers to various encryption algorithms that use cryptographic techniques to safeguard the algorithms using techniques like public private key pairs, elliptic curve encryption, etc. Cryptocurrencies can be bought or mined through cryptocurrency exchanges and have become one of the most popular trading instruments.

Cryptocurrencies have gained popularity as they offer a means for faster money transfers while being cheaper than any other outsourcing and based on decentralized systems that are not locked into a single point of disconnection or failure.

Budding labor industry

As cryptocurrency and blockchain reach their ever-increasing success rate each year, there is an increase in job opportunities being provided in the blockchain and cryptocurrency sector. Blockchain jobs are growing at an exponential rate of 2000-6000% while offering salaries 50-100% higher than conventional developers. In the blockchain field, one can work as a blockchain developer,

Blockchain Developer – It is a more marketable career path, where one will help the company to commercialize the blockchain platform and create high demand for it, which becomes much easier now that many people feel curious about the benefits offered by the blockchain. . To opt for this career prospect, one must have a couple of years of experience in fields like C++, JavaScript, Python.

Blockchain Project Manager: One has to develop solutions for blockchain and must have cloud project manager skills and basic technical skills. You can also work as a solution architect, UX designer, and many more.

Cryptocurrency-related job openings increased by 395% in 2021. One of the most in-demand job titles is that of chief artificial intelligence engineer.

Artificial Intelligence Lead Engineer – Where the engineer is responsible for programming and developing the algorithms that help build AI, improve cybersecurity for safe and secure crypto exchanges.

Other publications that are in demand that you can consider are:

• Account executive,

• Senior Programming Engineer

• Product management

As we are rapidly moving into a whole new era with new specializations and technology, there are several opportunities available in companies and dApps (decentralized applications) working to solve complex problems. These also give you the opportunity to work with the smartest people in technology.

(The author is the Chancellor of the Sanskrit University)