This article is a guest post by Hlib Rabchuk, a communications specialist in the Ethereum community.
Web3 is evolving at a breakneck pace—new protocols emerge, developer trends shift, and the skills in demand today might become obsolete tomorrow. For those navigating the industry, staying ahead isn't just about technical expertise; it's about understanding where the space is headed.
Yurii Kovalchuk, a Web3 Lead at Fortissimo Group and a blockchain development instructor at Set University, has witnessed these shifts firsthand. With over nine years in IT, spanning Java back-end development to leading teams in Web3 startups, he brings a unique perspective on how the industry has changed and where it's going next.
From the rise of Rust and AI-integrated Web3 solutions to critical security blind spots that still plague developers—this interview unpacks the reality of building in Web3 today. Whether you're a developer, investor, or just a curious mind trying to make sense of the space, Yurii's insights offer a candid look into the challenges and opportunities shaping the future of blockchain.
– How has the demand for Web3 specialists changed compared to five years ago? What key areas should an aspiring developer focus on to build a career in Web3?
Yurii: Five years is an eternity in Web3. That's a long period to evaluate changes, as the market develops in incredibly rapid cycles.
For example, five years ago, we barely knew what DeFi was. Today, it's one of the core components of Web3. But if we talk about current trends in the job market, here are the key points that I see:
– What does Solana do that Ethereum has not yet managed to achieve? Are there any changes that could shift this balance?
Yurii: Indeed, Solana currently has an edge in terms of throughput and low fees. This is thanks to its consensus model, which allows it to process thousands of transactions per second without needing additional Layer 2 solutions.
Ethereum, on the other hand, prioritizes a more decentralized and secure network, which makes it safer and more sustainable in the long run. Layer 2 solutions are being actively developed and are already allowing Ethereum to significantly improve scalability.
With future upgrades like Pectra, Ethereum will be able to catch up with Solana in terms of transaction speed and cost.
But whether Solana can achieve the same level of security and decentralization as Ethereum remains an open question.
– You often highlight the importance of security on your blog. What is one common security mistake that Web3 developers still make?
Yurii: The massive mistake that developers and users alike still make is not managing private keys correctly.
Yes, the joke about posting a private key on GitHub is still relevant because it's only partly a joke. People often store seed phrases, private keys, and other sensitive information insecurely, neglecting hardware wallets and other security measures, which leads to hacks, phishing, and asset theft.
Poor access control in smart contracts is a close second. This is the primary cause of major Web3 protocol hacks, as some developers either grant excessive administrative privileges or implement flawed update mechanisms.
As a result, owners may lose control of the protocol, or hackers may gain access to critical functions.
Web3 continues to advance, but basic security mistakes are still the cause of the largest attacks and hacks.
– You have stated that Web3 needs a new positioning. What specific aspects do you believe should be changed?
Yurii: I don't think the term "Web3" itself needs rebranding—its image is still quite positive and untainted.
The need for change is more related to the concepts of crypto and blockchain.
"Crypto" today has a very speculative and negative image due to the sheer number of people trying to game the system and make a quick buck. "Blockchain," on the other hand, is perceived as an outdated and early-stage term, sometimes even automatically equated with cryptocurrencies, which creates the wrong impression. This can only be fixed through education and proper communication.
On my social media, I always explain that these three concepts—Web3, blockchain, and crypto—are all completely different things.
Thus, Blockchain is the technology, Crypto is one of its use cases, and Web3 is a whole vision for the new Internet, where you own your data and assets.
This approach should help shape the right perception of Web3 among the general audience.
– On February 24, the Ethereum Pectra hard fork is scheduled to happen. What key changes does this update bring, and what new opportunities does it open up for the Ethereum ecosystem and its developers?
Yurii: The Pectra hard fork is another major step in Ethereum's evolution, combining two significant upgrades: Prague for the Execution Layer and Electra for the Consensus Layer. This will be one of Ethereum's largest upgrades to date (in terms of the number of EIPs). There are three main areas worth noting:
– You are currently involved in the Uniswap Foundation Grant Program. Given that dominant market narratives are shaped by developers, is it possible to predict market trends in such a fast-moving space?
Yurii: Yes, I am currently in the process of completing a grant program run by the Uniswap Foundation & Atrium Foundation. In it, we are deeply exploring the capabilities of Uniswap v4 and its main feature – Hooks.
This version opens up vast possibilities for AMM customization, including dynamic fees, MEV protection, and flexible liquidity management mechanisms, which allow you to build not just add-ons to Uniswap, but full-fledged protocols on top of it.
Moreover, Uniswap sets trends not only in DeFi. For example, projects like Flaunch, a launchpad for memecoins with a fair launch, demonstrate that its ecosystem goes far beyond traditional DEXs.
I believe the next big trend is the deeper modularity of DeFi protocols and the integration of custom logic into liquidity. V4 allows you to create products with your own algorithms for pricing, asynchronous exchanges, and flexible liquidity management, which can significantly expand the DeFi market in the coming years.
– The recent launch of pump.fun on mobile devices has made it clear that creating memecoins is easier than ever. Your projects from the last two hackathons also simplify this process. Is there a risk that this ease of token creation will lead to a massive bubble? Isn't Web3 turning into a fast-food industry?
Yurii: Indeed, one of our projects simplified the process of creating memecoins by using AI agents.
We saw that memecoins and AI are two of the most dynamic areas in Web3 right now, so we decided to combine these trends by exploring their community and potential impact on the market. The ease of creation will surely lead to a surge in the number of tokens, and not all of them will have a solid foundation or utility. However, I don't believe the fight against low-quality projects should be to make it artificially difficult to create them.
Web3 is still in the process of improving the user experience, and our goal is to make it more accessible to newcomers. Restrictions and barriers are not the answer—it's more important to teach people to differentiate quality and see value.
It's just like with food: instead of banning fast food, we teach children to choose healthy food. Web3 should do the same—not restrict, but raise awareness.
– Do memecoins damage the Web3 industry's image in the eyes of people who want to become developers and investors? How do events around Person, $HODL, CZ, and other similar cases affect trust in the technology?
Yurii: I don't think memecoins as a category of tokens damage the Web3 industry. They can have sound mechanics and utilities. Think of them as promotional flyers or a PR push for a project.
If you want to quickly capture the audience's attention and build a community, memecoins can effectively play that role. Moreover, memes are closer to a wide audience—both for ordinary users and enthusiasts who want to launch something of their own, even if it's for fun.
As for the discrediting of Web3 in general, this issue doesn't only apply to memecoins. Any project whose main goal is to scam users harms the industry's reputation. Whether it's a memecoin or a Layer 1 blockchain that existed only on paper, raised millions through an ICO, and disappeared, the principle is the same. Yes, due to the ease of token creation, this path has indeed become more accessible to scammers, and rug pulls are happening more often. But, as in the previous question, the solution is not in bans but in education.
DYOR (Do Your Own Research) remains a key principle for all Web3 participants.
