Finding the best Web3 companies for your project is a challenging task. The popularity of web3 development keeps increasing as many businesses want to integrate the technology into their operations. So, Web3 companies have specific skills that set them apart. 

When looking for web3 blockchain developers, you must ensure they possess the right skills. But which skills should you consider when hiring Web3 companies? We explore them for you. So, keep reading to discover the skills Web3 companies should possess.

What is Web3, and why are web3 companies vital?

Before exploring the skills of a web3 developer, it’s critical to understand what web3 is. The web two version of the World Wide Web enabled people to generate and share content on various platforms, such as Google and Facebook. As many people joined the online spaces, a few behemoths emerged that took control of massive amounts of traffic. These companies also benefited a lot from the content generated by their users.

So, web3 is a version of a new and improved internet. Web3 technologies use decentralized ledgers, web 3 crypto, and non-fungible tokens (NFTs) to return authority to the users in the form of ownership. Here are the critical concepts of web3 development:

• Decentralization: Instead of large companies controlling the internet, web3 decentralizes it and distributes ownership to users and creators.

• Permissionless: each person is free to participate in web3.

• It has native payments: the technology relies on web 3 crypto as a form of using and receiving cash rather than depending on the archaic payment modes of banks and payment processors. You can also get web3 token price if you want to sell your project.

• Web 3 is trustless: because of blockchain technology, web3 removes third parties like banks from a transaction.

Technical skills to evaluate when hiring Web3 companies

Blockchain technology is growing at unprecedented speed, and many businesses are now searching for web3 developers to take their companies to the next level. Here are the technical skills to evaluate when hiring Web3 companies:

Smart contracts development

Digital contracts are pieces of code that activate once parties in a transaction meet the predetermined conditions. When evaluating a developer, ensure that they understand web3 solidity. The solidity programming language is central in creating Ethereum-based smart contracts. So, before choosing a specific web3 token developer, ensure they know how to develop web3 solidity smart contracts.

Check their skills on nodes.

In blockchain technology, nodes play the role of servers. They keep records and process settlements. So, having multiple nodes indicates a high level of decentralization. Remember, without nodes, decentralized applications cannot communicate with digital contracts.

Developers don’t need to run their nodes, as there are multiple service providers, such as Alchemy, RunNode, and Chainstack. Also, developers need to understand that nodes are few, and you can’t get much data from them. For instance, if you want to see the balance of multiple users, developers should create dApps.

Understand web3 SDKs

The Web3 companies you’re evaluating should understand how to use Web3 SDKs to create dApps. These technologies offer the tools that enable communication with the Ethereum network. Multiple Web3 SDKs, such as Geth and Parity, allow programmers to build and launch digital agreements. Also, Web3 SDKs are used to build crypto storage apps, communicate with an ICO agreement, and develop a DEX.

Knowledge of crypto wallets

A crypto wallet is an application that keeps public and private keys, PINs, and passwords. The crypto storage app allows the sharing and receiving of crypto assets. It can also show web3 token balances and perform other transactions. For example, you can quickly get web3 token price via the storage app. Python, PHP, and Java are the most common languages to use in developing web3 blockchain wallets.

Also, developers can choose to use the existing web3 metamask storage app. The web3 metamask wallet enables you to avoid the charges associated with wallet development.

Knowledge of blockchain technology

Experienced Web3 companies should understand how blockchain technology works. Without a blockchain layer, you cannot talk about Web3 development. Ethereum leads the way in blockchain technology. However, the major weakness of Ethereum is its high fees. So, developers should consider cross-chain interoperability options. Some available alternatives include Binance Smart Chain, Polygon, and Solana.

Understand APIs

The application programming interface comprises definitions and protocols for creating and incorporating decentralized apps (dApps). It allows the interaction of various software pieces. Also, APIs provide the right environment for proper coding. Multiple Web3 API providers exist in the market and offer different solutions that link the nodes in the background.

Knowledge about platforms

The legacy units have multiple creation platforms, such as Azure and Firebase. Web3 too has platforms like Moralis. If you lack a platform, you should initiate your own backend to enable the use of APIs. The platform allows you to develop your database, log in details, etc. A key perk of using a platform is that it will enable you to concentrate on front-end development. So, knowledgeable Web3 companies know the best platform to use.

Web3 decentralized applications (dApps)

This is the top layer of the web3 technology stack. Most users are interested in this layer. So, you need to be creative and build an appealing UI and UX. Remember, robust dApps can hugely contribute to the mainstream adoption of decentralized technology. You can create various dApps, such as DeFis, NFT marketplace, and apps for non-fungible token games.

Knowledge about the tools to use

You need to ensure that the developer you want to hire knows the best tools and technologies to use to deliver your project. Some tools to consider include Verida, Blockstack, and Filecoin.

Conclusion

Web3 uses blockchain technology that enables users to benefit from their content. Blockchain technology uses decentralized nodes to keep data. So, the user’s information isn’t kept in a central server owned by a big tech company. Because of its massive benefits, many businesses want to incorporate this technology into their operations. However, finding the right Web3 companies is challenging. Here, we’ve explored the technical skills you need to check before hiring a web3 development company.