Top 10 Most Commonly Asked Web3 Interview Questions and Answers

Web3 (also known as Web 3.0) is definitely the latest technology that the world is currently basking on and slowly small and big companies are turning to Web3 to not only retain their customer but also offer safer and private cyberspace for them to use.  It provides better data privacy by eliminating central organizations and allowing users to keep their data stored in their personal crypto wallets. Since Web 3.0 is still a work in progress, organizations are looking out for people who have knowledge of Web3 and Blockchain. If you’re looking for Web3 jobs and have no idea what kind of questions are being asked in Web3 interviews, we’ve compiled the 10 most commonly asked web3 interview questions along with their answers.

Top 10 Most Commonly Asked Web3 Interview Questions and Answers

1. What do you mean by Web 3.0?

If you’re interviewing for a position in web3, you might think this is a stupid thing to ask, but it’s not. This web3 interview question can quickly exclude individuals who are looking for work in a fast-developing field but do not completely comprehend what it entails. If you can articulate web3 clearly, you have done your study and understand why you are seeking this role.

 Web 3.0 is successor of Web 2.0 and is a third generation of the internet. Using technologies such as machine learning (ML), big data, and decentralised ledger technology (DLT), websites and applications may manage data in a human-like manner. Web 3.0 was initially referred to as the Semantic Web by Tim Berners-Lee, the inventor of the World Wide Web, and was meant to be a more independent, smart, and open internet.

In a nutshell, Web 3.0 would network data in a decentralised fashion, which would be a big advance over our current internet generation (Web 2.0), in which data is largely housed in centralised repositories.

2. What are the differences between Web 1.0, Web 2.0, and Web 3.0?

You may have previously answered this question when answering the preceding one. However, the interviewer may still pose the question in this fashion. You must go a bit deeper here and describe the key ideas of Web1 and Web2 before talking about Web 3.0.

Web 1.0 – Despite having limited information and almost no user interaction, it was the most reliable internet of the 1990s. Because there were no algorithms to search websites in Web 1.0, consumers had difficulty finding necessary details.

Web 2.0 – Because of advancements in web technologies such as Javascript, HTML5, CSS3, and Web 2.0, the Internet has become significantly more interactive. Because of the availability of data distribution and sharing, social networks and user-generated content production have thrived.

Web 3.0 is the next step in the evolution of the Internet, allowing it to comprehend data in a human-like manner. It will merge AI, Machine Learning, and Blockchain to provide consumers with intelligent apps. This enables the intelligent creation and delivery of highly personalised content for each Internet user.

3. How do Proof of Work (PoW) and Proof of Stake (PoS) differ?

When this question is posed, you are expected to respond thoroughly. You should include information such as which blockchains use PoS and which use PoW, the benefits and drawbacks of each, which one you believe is superior to the other, and so on.

4. What is Decentralization?

 To sit in an interview for a Web3 role, you need to have a basic idea of Web 3.0 terminologies. So, ensure that you’re thorough with all the basic terms related to Web3. 

The distribution of power and authority away from a central point is referred to as Decentralisation. In the context of Web3, this entails shifting away from centralised platforms such as large corporations (such as Facebook and Google) or governments and toward a more distributed model in which data is stored on individual users’ devices.

Advantages of Decentralisation:

1. Establishment of a trustworthy environment. Every member of a network has access to the same ledger.
2. Data reconciliation has been improved. The correspondence between the transferred data and the source data is more precise.
3. Inconsistencies related to specific system actors, resource exhaustion, bottlenecks, and information loss have all been greatly reduced.

5. What are some new features we may expect from Web 3.0?

Here, you need to share your vision for the future of Web 3.0. You can describe the features in an illustrative way so interviewees know that you’re through with your understanding of Web3’s features and characteristics. 

The following new features are expected in Web 3.0:

1. Integration of virtual and augmented reality
2. Data analytics that complies with cutting-edge technology
3. Enhancements to privacy and security
4. Improved search capabilities
5. An improved user experience

6. What’s the difference between fungible & non-fungible tokens?

Web3 is incomplete without NFTs and FTs. Make sure that you’re updated with the definition along with what’s going on in the NFT world. 

Tokens are classified into two types: fungible and non-fungible.

1. Fungible tokens are interoperable with cryptocurrencies such as BTC, ETH, and others. Assume you have a large number of tokens that you want to exchange for a new car. It makes no difference if the tokens are all different colours or sizes as long as they all have the same value.
2. Non-fungible tokens (NFTs) on the other hand, are one-of-a-kind. Each is distinct from the others. So, if someone wanted to trade their token for a new car, the dealer would need to know which token they were referring to.

7. What is the difference between Bitcoin & Ethereum?

Everyone is aware that Bitcoin and Ethereum are the two most popular Blockchains currently in use. Each one is distinct in its own way, which is why you must describe their differences, the services they offer, and how they differ from one another.

While both are the most popular cryptocurrencies, Bitcoin is traditionally used as an alternative digital payment system, whereas Ethereum is a platform for smart contracts.

Bitcoin was designed to be a replacement for the traditional monetary system as a means of commerce and wealth storage. Ethereum was developed as a platform to enable programmable, immutable contracts and applications through the use of a global virtual machine.

Proof-of-Work consensus is used in Bitcoin. Ethereum 1.0 employed the Proof-of-Work mechanism, whereas Ethereum 2.0 employs Proof-of-Stake.

8. What is the difference between Public and Private keys?

Blockchain and Web3 focus heavily on the security and privacy of data so you need to have an idea of cryptography. Cryptography is the science of secret writing with the intention of keeping the data secret. It classifies into two keys –  public and private. 

Private keys can be utilized for both encryption and decryption, whereas public keys are only used to encrypt sensitive data. Private keys are shared only between the sender and the receiver, whereas public keys can be freely distributed to various users.

9. What are Smart Contracts?

Smart contracts are digital contracts that are automatically executed when certain conditions are met. They are self-enforcing agreements enabled by the blockchain technology that underpins web3. Smart contracts can be used for a variety of purposes, including document authentication, payment management, and even voting.

One of the most appealing aspects of smart contracts is their high level of security. They are practically tamper-proof because they are based on blockchain technology, which means they cannot be changed or hacked without being detected.

10. Which coding languages would you prefer for creating Web3 applications?

You can mention the most used programming languages that are used to create Web3 apps. It’d be better if you had a basic understanding of those programming languages as well. 

Solidity, Vyper, Python, and Rust are the most used programming languages for creating web3 applications. 

Related course you can consider option:

• Python Programming Foundation -Self Paced

Bottomline

Now if you’re still unsure if you’ll pass a Web3 interview or not, chances are you’ll definitely ace it. We’ve compiled the entire set of the 10 most frequently asked Web3 Interview Questions. We have covered every facet in great detail while keeping the answers short and to the point for your convenience. Examine them thoroughly if you want to ace your interview and land the ideal Web3 position.