The following is a guest post from Hlib Rabchuk, PR Manager at Ethereum Ukraine.

The world of Web3 is changing at an incredible pace. It feels like every day there are new protocols popping up, developer trends are shifting, and the skills that are hot right now might be old news tomorrow. If you’re working in this space, just being technically skilled isn’t enough to stay ahead. You really need to understand where the entire Web3 world is going.

Yurii Kovalchuk, Web3 Engineer at Forte Group and blockchain development lecturer at Set University, has seen all of this change unfold firsthand. He’s spent over nine years in IT, starting with Java back-end development and eventually leading teams in Web3 startups. Because of this, he has a truly unique view on how the industry has evolved and what we can expect next.

In this interview, we dive into the nitty-gritty of building in Web3 today. We’ll explore everything from the rising popularity of Rust and AI in Web3 to the security weaknesses that developers still need to watch out for. Whether you’re a developer yourself, an investor, or simply someone curious about what’s happening in this exciting space, Yurii’s insights offer a valuable and honest look at the challenges and opportunities that are shaping the future of blockchain.

Web3 labour market: how has the industry changed over the past 5 years?

– Let’s kick things off by talking about talent. How different is the demand for Web3 specialists now compared to five years ago? And for students thinking about a Web3 career, what should they really be focusing on learning?

Yurii: Thinking about Web3, five years really does feel like ages ago! The market moves so incredibly fast, it’s hard to believe the changes in such a short time.

For example, DeFi wasn’t even really a thing five years ago, and now it’s a cornerstone of Web3! But if we’re focusing on what’s happening in the job market right now, here are the key trends I’m seeing:

• High demand for Rust developers. Solana’s popularity has exploded, and that means everyone is looking for skilled Rust programmers.
• Web3 engineers who understand AI. The world of AI agents is rapidly developing, and integrating AI into Web3 protocols is becoming a big priority.
• Security Researchers. With AI-powered attacks on the horizon, the need for auditors and security specialists is only going to get more intense.
• Developer Relations (DevRel). As Web3 grows beyond just a small group of tech experts, DevRel roles, which bridge the gap between projects and developers, are becoming more and more crucial.
• Marketers with a bold style. Web3 marketing is its own beast – it demands flexibility and a lot of energy. Traditional marketing approaches don’t always cut it.
• Community managers. Web3 projects live and die by their community, so having excellent community management is absolutely essential.

Solana vs. Ethereum: where is one technology ahead of the other?

– Let’s talk tech. What advantages does Solana have over Ethereum right now? And is Ethereum catching up, or likely to?

Yurii: It’s true, Solana definitely has the upper hand right now when it comes to speed and low transaction fees. That’s thanks to its unique architecture, which allows it to handle thousands of transactions per second without needing extra scaling solutions.

Ethereum, on the other hand, is focused on building a more decentralized and trustworthy foundation. This approach tends to make it more secure and sustainable in the long run. And, importantly, Layer 2 solutions for Ethereum are making big strides, already boosting its performance significantly.

With upcoming updates, Ethereum is definitely on track to close the gap with Solana on transaction speed and cost.

But whether Solana can achieve the same level of stability and decentralization as Ethereum – that’s still a big question mark.

One critical security mistake still being made in Web3

– You often emphasize security on your blog. What’s the most common security mistake you still see Web3 developers making?

Yurii: Without a doubt, the biggest security blunder, by both developers and users, is still poor private key management.

Yes, that old joke about accidentally committing your private key to GitHub? It’s funny because it’s still partly true. People are still careless with seed phrases, private keys, and other sensitive info. They’re skipping hardware wallets and extra security checks, and it’s leading to hacks, phishing attacks, and people losing their assets.

Coming in second place is access management in smart contracts. This is actually the main reason for many Web3 protocol hacks. Developers often grant too many administrative privileges or don’t properly set up how contracts should be updated.

This can result in owners losing control or, even worse, hackers getting their hands on critical protocol functions.

Web3 is constantly evolving, but these really basic security errors continue to be the root cause of major attacks and breaches.

Web3 needs a rebranding. But what kind of rebranding?

– You recently mentioned that Web3 needs a new positioning. What specifically do you think needs to shift?

Yurii: Interestingly, I don’t actually think “Web3” itself needs a rebranding. The term still has a fairly positive and fresh image.

The real need for change is around the words crypto and blockchain.

“Crypto” today has a pretty negative and speculative vibe. That’s largely because of so many people trying to game the system and chase quick riches. On the other hand, “blockchain” sounds a bit outdated and old-fashioned. Sometimes it’s even automatically linked with cryptocurrencies, which gives the wrong impression. This perception issue can only be fixed by education and clear communication.

On my social media, I’m always trying to explain that Web3, blockchain, and crypto are actually distinct concepts.

So, to clarify: Blockchain is the technology, Crypto is one application of it, and Web3 is a whole new vision for the internet, where you own your data and assets.

This approach, I believe, can help the general public understand Web3 in the right way.

Pectra: what is it and why is it important?

– On February 24th, the Ethereum Pectra hard fork is expected. What are the key changes coming with this update, and what new doors does it open for Ethereum and its developers?

Yurii: The Pectra hard fork is another major step forward for Ethereum. It combines two significant upgrades: Prague for the Execution Layer and Electra for the Consensus Layer. It’s shaping up to be one of the biggest Ethereum updates ever, packed with a lot of improvements. There are three main areas to pay attention to:

• User Experience (EIP-7702) introduces a smart new way to temporarily turn regular accounts (EOAs) into smart contracts. This really boosts user experience and gets us closer to true Account Abstraction (AA). This opens up possibilities like bundling transactions, paying fees with ERC-20 tokens, and having different levels of account permissions.
• Validators’ work (EIP-7002, EIP-7251). Validators will gain the ability to withdraw their earnings and staked ETH independently, making the process more flexible and faster. Plus, the maximum amount one validator can stake is going up from 32 ETH to 2048 ETH. This will simplify things for larger stakers and could reduce the number of validators needed while still keeping the network decentralized.
• EIP-7691 increases the amount of “Blob” data in each block to 9 (from 6) and aims for 6 (up from 3). This provides a temporary boost to Ethereum’s speed for rollup solutions until peerDAS is implemented. EIP-7623 also makes using Blob data more appealing for rollups by increasing the cost of calldata, which is a less efficient way to store data.

Are developers still creating the market trends?

– You’re involved in the Uniswap Hook Incubator right now. Given that developers often drive market trends in this space, do you think it’s possible to foresee emerging trends within this community?

Yurii: Yes, that’s right, I’m currently participating in the incubator program organized by the Uniswap Foundation & Atrium Academy. We’re diving deep into Uniswap v4 and its core feature, Hooks.

This new version unlocks so many possibilities for customizing AMMs. Think dynamic fees, protection against MEV (Miner Extractable Value), flexible tools for managing liquidity – it’s not just about add-ons for Uniswap anymore, but about building completely new protocols on top of it.

And Uniswap’s influence isn’t limited to DeFi either. Projects like Flaunch, a launchpad for memecoins with a fair auction system, show that its applications extend way beyond traditional DEXs.

I believe the next big thing will be deeper modularity in DeFi protocols and integrating custom mechanisms for liquidity. V4 lets you create products with your own algorithms for pricing, asynchronous trading, and flexible liquidity management. This could really reshape the DeFi landscape in the years ahead.

Memecoin automation: a new opportunity or a risk bubble?

– The recent launch of pump.fun on mobile makes it clear that creating memecoins is easier than ever. Your projects from recent hackathons also simplify this process. Is there a risk that this ease of creating tokens could lead to a massive bubble? Is Web3 heading towards becoming a fast food industry?

Yurii: Yes, actually, one of our projects did focus on making memecoin creation simpler using AI agents.

We noticed that memecoins and AI are two of the hottest areas in Web3 right now, so we decided to explore how they could work together and what kind of impact that could have. Making creation easier will definitely lead to more tokens, and not all of them will be built on solid foundations or have real utility. However, I don’t think the solution to low-quality projects is to make it artificially hard to create anything.

Web3 is still trying to improve user experience and become more accessible to newcomers. Putting up restrictions and barriers isn’t the answer – it’s more important to teach people how to spot quality and understand value.

It’s like food. Instead of banning fast food, we educate kids about healthy eating choices. Web3 should do the same thing – not block access, but raise awareness.

Memecoins vs. trust in Web3

– Do memecoins hurt the Web3 industry’s reputation, especially for newcomers like developers and investors? And how do events like the Libra project issues, or the situations around $TRUMP and CZ, affect trust in the technology overall?

Yurii: I don’t believe memecoins, as a category of tokens, necessarily damage the Web3 industry. They can actually have valuable functions and mechanisms. Think of them like promotional material or a PR campaign for a project.

If you want to quickly grab attention and build a community, memecoins can be a really effective way to do it. Plus, memes are relatable to a wider audience – both regular users and enthusiasts who want to launch their own projects, even if it’s just for fun.

When it comes to Web3’s reputation in general, it’s not just about memecoins. Any project that’s primarily designed to scam people hurts the industry. Whether it’s a memecoin or a Layer 1 blockchain hyped up in an ICO that then disappears, the principle is the same. Yes, because it’s so easy now to create tokens, scammers have definitely taken advantage, and rug pulls are more frequent. But as we discussed before, the answer isn’t bans, but education.

DYOR – Do Your Own Research – remains the golden rule for everyone in Web3.

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