🔓 What is a Cryptocurrency Audit and why is it needed?

While cryptocurrencies offer a "new generation of payments" with fast transactions, low fees and increased privacy, its users face a record number of risks and issues

What is a crypto audit?

✒️ A cryptocurrency audit is a review of whether the technical metrics of a cryptocurrency match the company's claims and whether the coin is protected from hacker attacks. The purpose of the audit is to make sure that the cryptocurrency is free of bugs and critical vulnerabilities.

📄 Following the audit, the auditor issues a report that is useful to both the project issuing the cryptocurrency and to users or potential partners. Cryptocurrency developers can fix the vulnerabilities found by the auditor. And if there are none, the report will be a green flag for investors and customers who don't have to worry about the safety of their investments.

Why is an audit necessary?

✅ Firstly, it helps to identify projects aimed at making money fraudulently. Secondly, auditing can also help to identify technically weak coins that do not live up to their promises or have poor security. In both the first and the second case, audits reduce the risks of investing in cryptocurrencies.

Cost of auditing

ℹ️The cost of auditors varies depending on the size and complexity of the task. The owners of a large crypto exchange will have to pay several times more than the founders of a small startup. The point here is not the number of users, but the length of the code to be audited.

💸 On average, an audit can cost from $5,000 to $50,000 - companies do not give exact figures without a preliminary analysis of a specific situation.

🧑‍💻Therefore top Auditors of smart contracts DeFi protocols like Hacken, CertiK and others are actively seeking blockchain specialists from simple testers to expert cybersecurity specialists

Future Trends in the Blockchain 📈

ℹ️ Blockchain developers, unlike their Web 2.0 folks, need to be always on the lookout for new knowledge and keep up to date with the latest market trends because blockchain is one of the fastest growing areas of all possible and new networks and blockchains, as well as related technologies and functionality, are constantly emerging in this market. To stay ahead of the competition or to be prepared for any unexpected questions in the interview, we have prepared a list of upcoming trends in the blockchain industry that may dominate in the near future

🔸SVM
Solana Virtual Machine (SVM) is attracting more and more attention from developers and has chances of widespread adoption. This is due to the experiments and innovations this technology can bring: new sequencers, new rollups, new applications and new liquidity.

🔸Modular vs Monolithic structures
This trend is also related to the adoption of SVM, which will be one way of modular innovation. Modular technologies allow for accelerated experimentation. For example, Solana is now modular at the technical and community level.

🔸Appchains
Blockchains created for specific applications will also attract the attention of users and developers. The main reason for creating appchains is sovereignty and the possibility of forks. This is the reason for the creation of the MakerDAO appchain.

🔥 - Leave reactions if you want a follow-up on industry trends

✒️ All you need to know about Technical Interview Assessment

If you are already decided to be one of the pioneers of mysterious blockchain technologies, find a dream job in mega Web3 projects or just want to make a lot of cash, this post is just for you

👩‍💻 A TopSel team led by the winners of the Binance hackathon and top-tier Web3 tech interview prep hub has prepared a unique assessment on real cases, based on the results of which you will have a complete roadmap and action plan

What's included in the package:

🔹 The test includes several targeted blocks such as: Blockchain fundamentals, EVM, Solidity, gas optimization and security
🔹 Questions with multiple choice answers as well as open-ended questions where you are required to solve specific technical problems
🔹 No rush, no stress, no time pressure, Simulation of a technical interview in a comfortable and developer friendly way
🔹 No boring and primitive questions, only real cases, only real questions from Web3 devs
🔹Bonus: a section on problem solving built from questions that were posed on real blockchain projects

What do you get out of it?

🔸 Your real level in the dev environment from junior to senior
🔸 Feedback report on your result showing your strengths and weaknesses.
🔸 Personalized action plan from real experts, no template actions

ℹ️If you still have questions, feel free to contact us @alexdevvv. We will be happy to help you!

🔝 All you need to know about Technical Mock Interview (Q&A)

In previous posts we went into detail about the

Technical Interview Assessment,

but if you want to go further and want to try a simulation of a Live Technical Mock Interview, our experts are ready to help you with that

📆 After payment you have the opportunity to choose a time that suits you and have a 60 minute interview with a Web3 expert on each of the sections: blockchain fundamentals, EVM, Solidity, gas optimisation and security.

🚀 Why should you get a Technical Mock Interview?

🔹 You get an initial feedback from the expert during the interview
🔹 A detailed performance report within a few days and recording for self-improvement
🔹 Practice frequent as well as uncomfortable questions, the opportunity to check your achievements and growth points including practising your English.
🔹 You don't need to prepare for anything, our team will take care of it.
🔹The opportunity to ask questions and get expert answers in real time

Stay tuned for more

🔝 Bitcoin's first obituary was released 13 years ago, since then the crypto asset has grown by 15,000,000%

📆 With the growth of bitcoin and other crypto assets over the past few months, we couldn't miss this date. 13 years ago, blogger Sean Lynch wrote about bitcoin's upcoming demise on a website that no longer exists

💡Notably, the author criticised bitcoin for its fixed supply and potential for price growth, pointing out that this would prevent it from becoming a currency and would eventually lead to depreciation

💬

"The only thing keeping bitcoin alive for so long is its novelty. Either it will always remain a novelty or it will die faster than you can blink," Lynch wrote 13 years ago

❓But the first cryptocurrency is still proving the opposite, ranking 12th in terms of capitalisation out of all the world's assets.

Do you think it will be able to reach the top?

👍 - Yes, it's only a matter of time

👎 - No, I don't believe it yet.

🔝 TopSelEdu: What are Layers in Blockchain?

ℹ️Recently, the crypto world has been buzzing more and more about layers, especially if you go into development, you have come across them several times. Let's discuss in detail the topic of levels of organisation of technologies and ideas in the crypto world:

1️⃣One of the simplest explanations about Layer 1 is offered by Binance Academy. In a nutshell, Layer 1 is

"a protocol that processes and completes transactions in its own blockchain. It also has its own token used to pay transaction fees"

L1 networks are ETH, BNB, SOL and others. So why then do we need second layers when we can get by with the first?

🤖The fact is that Layer 1 protocols don't scale well: too much data during transactions increases network runtime. This is because bitcoin, for example, uses the Proof of Work (PoW) consensus mechanism, which requires a lot of computing resources.

2️⃣Well, we've got the first layer sorted out, so let's continue analysing the blockchain. According to an article from Cointelegraph,

"The second layer is third-party integration used in conjunction with the first layer to increase the number of nodes and system capacity. That is, in order for the first layer network to scale, some operations are outsourced - L2 comes in. Moreover, there is even an L3 that acts as a "user interface while masking the technical aspects of the communication channel"

📍L2 solutions are divided into sidechain (returns transaction result to L1), plasma chain, rollups, state channels.

🚀Technologies to improve the agility and efficiency of blockchain networks are crucial today. Against the backdrop of the growing DeFi sphere and the popularity of crypto, it is becoming more and more important to have a stable system capable of running large financial sums through it without any failures or delays

Happy Sunday Guys🍹

🗞 It's been a week full of events and news in the world of crypto, we have followed all of them but have collected for you the most interesting and important ones:

▶️ 47 countries have adopted a new standard for exchange of information between tax authorities:

The list of countries includes the US

🇺🇸

, the UK

🇬🇧

and Australia

🇦🇺

. CARF aims to regulate crypto assets. Which means Cryptocurrency will be increasingly regulated over time.

▶️ The number of Bitcoin wallets worth more than $1 million has increased three times over:

💰

The number of such addresses has increased from 23,795 to 81,925 since the beginning of the year. Many of these addresses belong to crypto exchanges and financial institutions.

▶️ Cryptoassets are the second most popular type of investment in France:

🇫🇷

Almost 9.4% of the population holds crypto-assets and 2.8% own NFT. Among crypto investors, 64% are male with an average age of 36. But it is worth noting that most new investors have low levels of financial knowledge, the survey found.

▶️ Uniswap presented a mobile application for Android, available in Google Play:

📱

The iOS version was released in April. The application allows users to make exchanges directly in the application, eliminating the need to use additional web browser extensions.

▶️Due to ETF hype, average BTC transaction value increased by 735% in a month

What news of the week caught your attention❓

🔝 All you need to know about Technical Mock Coding Interview (Q&A + Live Coding)

📌

On our channel we have already gone through

Technical Interview Assessment

and

Technical Mock Interview

in details. Now it's time to talk about our latest and most advanced technical interview preparation package from Top Selection Web3

What you get from Technical Mock Coding Interview:

1️⃣ A Technical Mock Interview (check the link) combined with live coding.

2️⃣ Engage in problem-solving scenarios resembling those of a high-paid blockchain developer tackling tasks like gas optimisation and web3 security.

3️⃣ Personalised 1 on 1 session with a hardcore expert to get advice on how to succeed in your web3 career.

4️⃣ Personalised advice and guidance if you want to work for a specific crypto company.

Follow us on: ✖️ Twitter {X} ┃🎮 Discord ┃💼 LinkedIn

▶️TopSelEdu - Why you should start learning blockchain asap!

In short, crypto and its related technologies are now setting the vector of development for the entire global community

🏦 Traditional banks are becoming the past and crypto is coming in:

If you decided to put your money in a bank account, you can consider that it is no longer your money. Your money is being used by someone else and the bank just knows that the money will have to be returned to you at some point in time

And no one can guarantee you complete safety of your money and its anonymity. Also political influences are not cancelled❕

💸What is the advantage of cryptocurrencies?

With crypto you can invest, transfer funds and pay for goods and services anonymously and without intermediaries in the form of banks, avoiding unnecessary commissions.

In crypto your money belongs only to you (if you store assets on a non-custodial wallet), the main thing is not to forget the seed-phrase😁

🔅The advent of blockchain technology and bitcoin gave rise to the creation of many altcoins, NFT, the development of metaverse and Web3

Why it's important?

💰Crypto is about financial independence. Are there risks of losing your funds? Yes, for example, to invest in a coin that will fall in value or even scam. But with proper handling, education and diversification, the risks come to zero.

🧑‍🎓That's why it's important to start learning about crypto, blockchain and web3. After all, they are already entering our lives and will eventually affect each of us without exception.

🔝And the Top Selection team will not only help you in exploring this "new" field for some but also prepare you for an interview to get you a job at your desired Web3 company

Follow us on: ✖️ Twitter {X} ┃🎮 Discord ┃💼 LinkedIn

👤The most popular individuals in crypto

The ranking was created by CoinLedger based on the number of followers on social media:

1️⃣ Former Binance CEO and founder Changpeng Zhao (CZ) - 9.2 million followers on X and Instagram.

2️⃣ Ethereum co-founder Vitalik Buterin - 7.7 million on X and Instagram.

3️⃣ Twitter founder and former CEO Jack Dorsey - 6.4 million on X.

4️⃣ MicroStrategy co-founder Michael Saylor - 3.2 million in X and Instagram.

5️⃣ Ark Invest founder and CEO Katie Wood - 1.6 million in X.

🔝Also in the top are Mark Andreesen (Andreessen Horowitz), Barry Silbert (Digital Currency Group), Brian Armstrong (Coinbase), Sam Bankman-Fried (FTX).

Follow us on: ✖️ Twitter {X} ┃🎮 Discord ┃💼 LinkedIn

How much does a developer earn in Web3?

🔍After analyzing multiple sources and web3.career service in particular, we found out who earns the most in web3? By the spoiler you could guess that we will talk about the salaries of developers in this field 😁

💸 The average salary of a Web3 developer is $127k - $200k per year. The average junior salary is $70k, and senior already gets 2 times more - $150k.

💻 Salaries depend on the technology, programming language, years of experience, and location. For example, the highest paid developers work with the programming languages C, Java, Rust, and Solidity

🌎 There are more than 200 developer job openings on the Web3 job market every month. North America is the most seeking professionals to work with, while South America is the least in need of such developers. It's also worth noting that a lot of online job openings are on the market, Remote developer salaries are not much different from office developers in the States.

Impressive, right? If you want to earn the same, our Mocs will help you to prepare for technical tests and interviews of any level and desired company🔝

Are you still in Web2?🐸

Trends for the coming bull market 2024🐃

The upcoming bull market presents opportunities for both new narratives and established trends. Let's take a look at the most promising of these

1️⃣SocialFi - The emergence of SocialFi apps solves problems with privacy, intellectual property rights and monetization of content, so such apps have been gaining popularity recently. You can take a closer look at such projects as: Farcaster,friend.tech,zkLink,DeBank

2️⃣Ethereum Rollups - Layer2 blockchains are already gaining popularity and will not stop attracting users' attention, especially after the Ethereum Dencun update. The best of the projects: LayerZero, Starknet,Linea,Base

3️⃣Account Abstraction - This enhancement on Ethereum EIP-4337 allowed users to turn wallets into smart contracts, combining the benefits of different types of wallets into one. OKX, Holdstation, Aztec Network, and Argent are particularly interested in this topic.

4️⃣NFTFi - The industry combining NFT and DeFi technologies is also becoming popular. AMM NFT, NFT lending, long/short NFT and others are now hitting the market. Notable ones in this direction are: sudoswap, NFTfi.com,NFTX,Arcade.xyz

Each of the promising directions has its own top projects, which are worth paying attention to even before the start of the bull run

Follow us on: ✖️ Twitter {X} ┃🎮 Discord ┃💼 LinkedIn

🚀Breaking into Web3 development in 2024: How to move from Web2 to Web3, how to receive an offer from the top 100 Blockchain companies and start earning from $70,000?

ℹ️You will find the answer to these and other burning questions in our FREE Webinar in which we will dispel myths and uncertainties around Web3, share the secrets of building a successful career in the industry and help you build a roadmap for further evolution in Web3 development.

🧑‍💻What to expect?

- Breaking myths and stereotypes about Web3 development.
- Practical tips to improve Web3 hard skills
- Insider secrets and tips on getting a job at a top blockchain company
- Find out how much do junior devs and team-leads actually earn in Web3?
- A live Q&A session to answer burning questions

🎁 Bonus: We will give away a free Mock Interview among the webinar participants.

Who's hosting?

🔝Top Selection Team - Top Web3 Technical Interview Prep hub with 5 years of experience in web3 recruiting. Our captain of the webinar will be Tina - Web3 development guru, winner of various blockchain hackathons including Binance hackathon.

📆 Date & Time: December 12th, 5 pm UTC
📞Venue: TopSel Discord - https://discord.gg/DuU226ZN9c

Don't miss this incredible opportunity to break into web3 development and get an offer from a dream company. See you at the webinar!

🔝 Free AMA session is just around the corner!

1️⃣ Check out the Webinar Program
2️⃣ Follow our Discord to not miss the live webinar.
3️⃣ Participate in the webinar and get a chance to win a Free Mock Interview

📆 Date & Time: December 12th, 5 pm UTC
📞Venue: TopSel Discord - https://discord.gg/DuU226ZN9c

See you soon!

Hurry up, the AMA session is in 1 hour 🔥

📞Go to our Discord to make sure you don't miss the webinar - https://discord.gg/DuU226Z

🎁 We also remind you that we will gift one of the participants with a Free Mock Interview during the live webinar.

🔝Gender distribution in Blockchain

👩‍💻As the cryptocurrency industry and DeFi have adopted features of the traditional financial system built by men, there is a high gender imbalance in blockchain. According to a recent Forex report, only 6% of senior positions in major blockchain projects are held by women

Challenges facing women in the crypto industry:

- Cultural stereotypes: Gender bias in educational materials and methods, as well as lack of support from family and teachers often discourage women from choosing STEM programs

- Lack of digital skills: Statistics show that women are less likely than men to have digital skills at all levels of digital literacy.

- Lack of job opportunities: While gender rights are expanding in society, there is still a gender bias at the recruiting level in fields such as cryptocurrency, finance and IT.

Therefore, today there are organizations being created that are working to increase gender diversity👇

🔥Roya Mahboob, an entrepreneur from Afghanistan🇦🇫, one of the 100 most influential people in the world, created the Digital Citizen Foundation. DCF's mission was to increase the number of women in the workplace and help them advance in their careers

😇Benefits of gender diversity in the industry: Representing a broader range of perspectives and experiences, increased innovation and a larger pool of investors

Follow us on: ✖️ Twitter ┃🎮 Discord ┃💼 LinkedIn

🔝Top Blockchain Interview Questions - Part 1

❓Today we will look at the 3 most basic and yet crucial questions that need to be answered clearly and confidently if you are applying to a blockchain project

💰What is Blockchain technology?

Blockchain technology is an incorruptible and decentralized digital ledger that records transactions across multiple computers. It enables the secure and transparent exchange of digital assets without the need for intermediaries. Each transaction is stored in a block, which is linked to the previous block, creating a chain of blocks

🦊 What is a Blockchain Wallet and How Does It Work?

A blockchain wallet is a digital software that allows users to store, send, and receive crypto. It consists of a pair of cryptographic keys — a public key and a private key. The public key acts as the address to which funds can be sent, while the private key is used to access and manage the funds stored in the wallet

🔹What Is Ethereum ETH?

Ethereum is an open-source blockchain platform that enables developers to build and deploy DApps. It uses its native cryptocurrency ETH to facilitate transactions and incentivize participants in the network. Ethereum introduced the concept of smart contracts, which are self-executing contracts with predefined rules and conditions

In the next posts, we'll look at the more advanced questions that came up in the Blockchain Interviews for 2023

▶️TopSelEdu - What are Innoscriptions in Cryptocurrency?

📌You've probably heard about the recent Arbitrum and zkSync blockchain failures, and they were exactly because of Innoscriptions.

🕵‍♂️We've dug into different resources and tried to elaborate on what it is and what the pros and cons are for the industry

Innoscriptions are pieces of metadata where you can store text, images, code, and more. It's something between a token and an NFT, but many times smaller and consumes much less gas for commissions

📜It all started with Bitcoin Ordinals, which was the only way for BTC to add NFT support since it doesn't support smart contracts

✍️Then developers realised that the same could be done in Ethereum, Solana and so on. While the Bitcoin network records data to individual SATs, other networks record data to Calldata, which is additional data that can be sent in transactions. They are read-only and cheap to use compared to storing data in a smart contract

🔼Benefits:

- The xRC-20 and NFT metadata is stored on the blockchain and available for everyone to read.

- Transactions, if compared to smart contracts, turn out to be cheaper.

🔽Cons:

- There is a huge dependency on off-chain indexers.

- Innoscriptions are easy to spam because they are extremely cheap, this has led to Arbitrum and zkSync failures

🔥 - Throw in reactions if it made sense to you

🔝TopSelEdu: What is a Multisig wallet and why is it needed in blockchain?

Multisig is when 2+ users can sign the same document. But how can this principle work with wallets?

🏦 Wallet vs Safe Deposit Box:

The best analogy to Multisig wallet is a bank safe deposit box with 2 keys. This box can only be opened when 2 people reach an agreement ➡️ bring their keys ➡️ open it and can take their money

With Multisig wallet the same - multiple codes that only together open access to the wallet 👛

🤔Why do we need a Multisig wallet?

The average crypto user often doesn't need one. We use non-custodial wallets where only one seed-phrase is needed. But crypto companies and startups need them

If all of an exchange's funds is stored on an address that is opened with a single key. It could cause vulnerability to breaches and hacker attacks. But if there are 2, 4 or more keys. It's very hard to hack into a wallet like that.

It is not necessary to open the wallet with all keys at once. For example, there are 3 keys, and access is opened with 2 keys, which can be changed in the settings.

🔥Other benefits of Multisig wallet:

High level two-factor authentication - Keys don't have to be held by different people. They can also be stored by one, just on different devices: laptop, phone and etc

👍 - Share your reactions if the post was informative for you