🔝 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

🔝Summary of the year 2023 and the main events in the Crypto world

The passing year of 2023 was a positive one for the cryptocurrency market. We hope that you managed to end it on the bright side, gaining a huge base of knowledge and experience in blockchain, in particular by reading our channel

What are the major events in the last 12 months in the crypto market?

🔹 Submission of applications to launch spot Bitcoin ETFs
🔹 Ripple's partial victory in its legal battle with the SEC
🔹 Falling inflation in the US
🔹 New momentum in the development of NFT (Ordinals)
🔹 And the consequence of the events above, the end of the crypto winter

2024 should be an even more successful year. And here's what we're most looking forward to:

🔸 Approval of applications for spot cryptocurrency ETFs
🔸 Bitcoin halving
🔸 And of course plenty of webinars and practical bootcamps for future blockchain developers together with Top Selection

Expectations for 2024 are most optimistic. Happy holidays everyone, stay tuned, there will be a lot of interesting content ahead!

📚🧑‍🎓TopSelEdu - Cryptocurrency legalisation by countries

CoinGecko published an article about the legal status of cryptocurrencies in most countries around the world. We have compiled the main points from this article:

1️⃣Cryptocurrency is legal in 119 countries

It can be seen that most countries in the world have legalised cryptocurrency, with 64.7% of them being countries from Asia and Africa

2️⃣Cryptocurrency laws are in force in 62 countries

Comprehensive regulation of cryptocurrencies is active in only 62 of the 119 countries that have legalised the asset. Half of these countries are leading global economies, such as France, Japan and Germany

3️⃣Cryptocurrencies as a payment method are legal in only two countries

Despite the legalisation of cryptocurrencies in most countries around the world, they are only fully legal as a means of payment in El Salvador and the Central African Republic (CAR):

🇸🇻El Salvador legalised bitcoin for payments back in August 2021, becoming the first country in the world to pass a Bitcoin Law. However, BTC adoption in El Salvador is low, with only 1.72% of the population owning bitcoins.

🇨🇫The CAR adopted bitcoin as a means of payment in April 2022, but by March 2023 the government had already cancelled its decision on legalisation - this was due to the difficulties of bitcoin acceptance by the population.


4️⃣Cryptocurrencies are illegal in 22 countries

Northern Macedonia, Bolivia, China, Egypt, Iraq, 13 African countries, etc. have completely banned the circulation of cryptocurrencies. The countries of the East most often explain such a rule by compliance with the rules of Islam. At the same time, 58 million people in China and 3.3 million people in Egypt own cryptocurrency. Bans on the use of crypto don't stop users from holding it in their wallets.

👉Check out the full article here

🔝Which Web3 sectors were in trend in 2023?

CoinGecko experts analyzed the crypto-narratives of 2023 and ranked the most popular sectors in Web3. We have collected the main points from the article:

👆According to the chart above, you can see the 15 categories that generated the most user interest out of 139 different narratives

Let's walk through the leaders:

▶️AI tokens were the most popular among other assets in 2023, due to the growing interest in AI technologies and the blossoming of ChatGPT and other neural networks.

▶️GameFi has finally become truly gaming. Many projects started to improve their products: Pixels, Illuvium, Gods Unchained increased access to games and attracted a larger audience to Web3 gaming in general.

▶️Memcoins also gained huge popularity in 2023. $BONK was the most successful memcoin, reaching a top price of 129 times higher compared to the beginning of the year. $PEPE ranked second among coins with 19 times higher returns than at the beginning of the year.

▶️The top blockchain ecosystems were Solana, Ethereum and Avalanche. Arbitrum lost ground, while L2 blockchains - Base, zkSync Era and Mantle gained visibility among other ecosystems.

▶️BRC-20 tokens have attracted the attention of users and developers, increasing interest in the bitcoin ecosystem as a whole.

📍Learn more about the best narratives of 2023 in the article

Hey, guys 👋

ℹ️We want to announce that we are slightly changing the format of our posts in the Telegram channel

👥 Due to the fact that our main audience in Telegram is from the CIS, we decided to share useful content also in Russian

🎮Subscribe to our discord where we will continue to publish posts in English

🔥Stay tuned - soon we have an important announcement for you

🚀Live Интервью на Web3/Блокчейн разработчика!

🔝TopSel приглашает вас на тренировку собеса для Web3 разработчиков — отличная возможность получить персональную обратную связь перед реальным интервью!

🎤 Кто проведет? - Тина (CTO & Product Owner в TopSel, Победитель Binance Хакатона)

Чтобы принять участие, отправьте свое резюме (CV) и интересную вам вакансию сюда: @alexdevvv

❓Вопросы по вакансиям и прохождению интервью также можно задать по тг выше👆

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