There are literally multivolume sets of books on the topic and a post won't do it justice, perhaps at times simplifying things to the point of being wrong.
3rd degree is a bit of an archaic term (depends upon whom you read). Many now use the terms Partial Thickness, Full Thickness, and Charr.
Scabs are basically dried serum, blood, pus and necrotic debris. Skin keeps the water in. Without skin, your body leaks. In full thickness burns there will be a continual leak of serum and so what would have been a scab won't dry. All the stuff of a scab is there, but evaporation is less than the addition of liquid. That contant leak of fluid is dangerous and can lead to death by dehydration, depending upon the total body surface are that is involved, how well the wounds are cared for and how vigilantly one keeps up with replenishing IV fluid.
Burn wounds will contract as they heal and there is some ingrowth of at least scar tissue to try and cover the wounds but any patch larger than 1-2 inches (3-5 cm) (in it's narrowest dimension) might require a skin graft. Grafting is after a granulation bed has grown which might be weeks down the road. Circumferential wounds around a limb can cause sloughing of the rest of the skin downstream on that limb. Circumferential burns have lead to amputations particularly when there are other injuries as well so the body can stabilize enough to heal. I'm pretty sure that there is a "Burn Care for Dummies," and or "Burn Care for the House Officer,"out there.