Crypto, Blockchain, DeFi, dApps, Web3. Unless you have been living under a rock, you have probably encountered these terms over the past few years.
But are you still apprehensive about this space and unsure of how to recruit in this space? If so, keep reading. This article will provide you with a comprehensive overview of these topics and cover what technical and programming skills you should look for in a candidate who is interested in working in this space.
Overview of the space
Blockchain
Blockchain technology is a distributed ledger system that records and stores data in a secure and immutable manner. It is a decentralized system that is not controlled by any single entity and can be used to store, send, and receive digital assets such as cryptocurrencies. Blockchain is also used to facilitate smart contracts, which enable the transfer of digital assets without the need for a third-party intermediary.
Crypto
Crypto is a shortened term for the word cryptocurrency and is a type of digital asset that is used as a medium of exchange. Cryptocurrencies are decentralized and operate using blockchain technology, which we will discuss in further detail later on in this article. Cryptocurrency is secured by cryptography and is typically not backed by any government or central bank.BitcoinBitcoin is the first and most well-known cryptocurrency. It was released in 2009 and has since become the most valuable and widely-used crypto asset. It is based on a technology known as “blockchain” and it is decentralized, meaning it is not controlled by any one central authority.
dApps
dApps, or decentralized applications, are applications that are built on top of blockchain technology. They are open source and autonomous, meaning they are not controlled by any central entity and are instead controlled by the users of the application. dApps are typically used to enable decentralized services such as payments, exchanges, and asset management.
DeFi
DeFi, or decentralized finance, is a decentralized financial system that is built on top of blockchain technology. It is a new type of financial system that uses blockchain technology to enable the creation of financial products and services that are not available through traditional financial institutions. DeFi is a rapidly growing sector and is being used to create new types of financial products such as loan services, trading platforms, and decentralized exchanges.
Web3
Web3 is a term that is used to refer to the new version of the internet that is powered by blockchain technology. It is a decentralized platform that is designed to replace the traditional web and provide users with a more secure and transparent way of accessing the internet. Web3 is also being used to create new types of applications and services that are not available on the traditional web.
The easiest way to think about it is that Blockchain is the underlying technology and everything else is different types of applications of this technology.
Top Companies
Crypto, Bitcoin, blockchain, DeFi, Web3, and dApps are all rapidly growing sectors in the tech industry, and there are many companies that are leading the way in terms of innovation and development. Here are some of the top companies in the space:
1. Coinbase: Coinbase is one of the largest and most popular cryptocurrency exchanges in the world. It is a US-based company that offers an easy-to-use platform for buying, selling, and storing digital assets.
2. Binance: Binance is a global cryptocurrency exchange that is based in Malta. It offers a range of services, including a trading platform, lending, and margin trading.
3. Ripple: Ripple is a payment network and cryptocurrency that is designed to enable fast, low-cost international payments. It is used by banks and other financial institutions to settle payments quickly and securely.
4. Ethereum: Ethereum is a decentralized platform that enables the development of decentralized applications. It is the second-largest blockchain platform in terms of market capitalization.
5. Blockstream: Blockstream is a blockchain technology company that is focused on developing new technologies and products to advance the development of blockchain technology and the use of cryptocurrencies.
6. Chainlink: Chainlink is a decentralized oracle network that enables the secure connection of smart contracts to external data sources.
7. Brave: Brave is an open source web browser that is designed to protect users’ privacy and security. It is built on top of the Chromium web browser and is powered by the Basic Attention Token.
8. Compound: Compound is a DeFi protocol that enables users to earn interest on their crypto assets by lending them out to other users.
9. Aave: Aave is a decentralized finance protocol that enables users to borrow and lend cryptocurrencies. It is a popular platform for users looking to take out crypto-backed loans.
10. Maker: Maker is a decentralized finance protocol that enables users to borrow and lend cryptocurrencies. It is a popular platform for users looking to take out crypto-backed loans.
11. 0x: 0x is an open source protocol that enables the development of decentralized exchanges. It is used by a number of decentralized exchanges to facilitate the trading of digital assets.
12. MyEtherWallet: MyEtherWallet is an open source web wallet that enables users to securely store their cryptocurrencies. It is one of the most popular wallets for storing Ethereum and other Ethereum-based tokens.
13. Uniswap: Uniswap is a decentralized exchange protocol that enables users to trade cryptocurrencies without the need for a third-party intermediary.
14. Synthetix: Synthetix is a decentralized finance protocol that enables users to trade synthetic assets, including cryptocurrencies, stocks, and commodities.
15. Kyber Network: Kyber Network is a decentralized exchange protocol that enables users to trade digital assets in a secure and trustless manner.
16. Airswap: Airswap is a decentralized exchange protocol that enables users to trade digital assets in a secure and trustless manner.
17. Decentraland: Decentraland is a virtual reality platform that is built on blockchain technology. It enables users to create, explore, and monetize virtual worlds.
18. Truffle: Truffle is a development framework that is used to build decentralized applications. It is a popular choice for developers looking to build dApps on the Ethereum blockchain.
19. Dharma: Dharma is a decentralized finance protocol that enables users to borrow and lend cryptocurrencies. It is a popular platform for users looking to take out crypto-backed loans.
20. OpenSea: OpenSea is a decentralized marketplace for trading digital assets such as NFTs, digital collectibles, and in-game items.
Technical and Programming Skills
A software engineer who is interested in working in the blockchain, crypto, DeFi, Web3, or dApps space should have a strong understanding of distributed systems, cryptography, and computer networking.
They should also have a good understanding of blockchain technology and be familiar with programming languages such as JavaScript, Solidity, C++, Python, and Rust.
Key questions to ask as a recruiter
A recruiter should ask a few key questions to get a better understanding of the applicant’s level of knowledge and expertise. Here are a few suggested questions:
1. What experience do you have working with blockchain technology?
2. What programming languages are you familiar with?
3. What distributed systems have you worked with?
4. What experience do you have working with DeFi protocols?
5. What crypto-related projects have you worked on in the past?
6. What do you think are the biggest challenges facing the crypto industry today?
7. What cryptocurrencies do you own? Why?
Conclusion
Applications built on blockchain are a rapidly growing area in the tech industry. They offer a range of opportunities for software engineers and other tech professionals, and understanding the basics of these topics is essential for any recruiter looking to hire for these roles. This article has provided you with a brief overview of the underlying technologies. Additionally, a list of some of the top companies in the space and the questions you should be asking a candidate who is interested in working in this space will help you in getting started!
About Rocket
Rocket pairs talented recruiters with advanced AI to help companies hit their hiring goals and knows technology recruiting inside out. Rocket is headquartered in the heart of Silicon Valley but has recruiters all over the US & Canada serving the needs of our growing client base across engineering, product management, data science and more.
