Thursday, July 7, 2022

Web3 Beginners Explanation

Web3 is on the rise and there is no stopping that. It's not new, but now is the time it is reaching to masses. This is the next big thing for web-based development. The job opportunities in the area of web3 are increasing day by day. There is a huge demanded for developers of blockchain, Web3 developer, as well as other related jobs in web3. There are many job and opportunities in web3 and this will increase in the future.

If you are a novice in the web3 development field it can be difficult to comprehend some concepts and terms. Let's look at the meaning of these two terms: Web2 as well as Web3. Web3 Video

WEB2 Why Web3 is Changing the Future

Web2 is the second wave of revolution on the internet. It is the time where the number of content creators on the internet has grown. Previously, Web1 was mostly end-user-oriented. It was used to consume data.

Web2 was born out of the growth of social media that let the end-user create content via the internet. This leads to the popularity of the creator of content on the web and eventually becoming a well-known celebrity. The consumers and creators of content grow together.

Web2 is also famous for centralizing data. Big companies mostly manage all the data in the world. One company owns several companies that acquire data from various sources. This was one of the problems for the web2 and led to the revolution that is now taking place on the internet.

WEB3

Web3 is considered the next step in the evolution of the internet. Web3 is the decentralization of information through blockchain-based applications , as well as the use of tokens for economics. The term "Web3" was coined in 2014 by Ethereum co-founder Gavin Wood. It is only gaining popularity lately due to the many platforms and resources available to build the blockchain-based app.

Developers have mixed feelings about web3. Some thought it was as a trend that isn't going to last for long. I do believe in Web3 due to following reasons:

Community is building in recent years for learning and developing There are new ideas for startups based on web3

Businesses are creating tools to help the development process. There are grants for web3-related projects

I highly suggest web developers to play around with the web3 at least for once. The two technologies Web2 as well as Web3 will interact with one another in the near future. Let's look ahead to learn about web3 better. Blockchain is a unmodifiable ledger system that keeps track of the transaction and it is shared with the node i.e, the computer participating in the network. Blockchain Development

The concept of blockchain was first popularized by one person (or group of individuals) who claimed to be the pseudonymous name of Satoshi Nakamoto in 2008. Blockchain solved the issue of decentralization of data on Web2. Since information is distributed among the different nodes, there's no any one person or company having all the data.

Web3 applications are based on the blockchain concept. Bitcoin is an example of blockchain. It is an electronic ledger system to pay for transactions but blockchain can be used for any data transaction. There is various network based on blockchain like Ethereum, Polygon, Solona, Avalanche, and other.

Dapp or Decentalized application are applications that make use of smart contracts that are based on blockchain netwrok for its functioning.

dApp

Dapp(Decentralized application) is the same program as a web application that only extends smart contracts. It is possible to divide the Dapp into these parts:

This is as it is when it comes to web design. You must build your front-end using HTML, CSS, and JavaScript. You can choose any framework like React, NextJS, or any other framework.

You can use the backend to interact with the smart contract running over the network. You can implement this in your frontend as well, but separating the frontend and backend can help you manage the app easily.

Smart Contract will be deployed on the blockchain network. Our application will communicate with it to facilitate the use of the application. NFT Marketplace is an example of a dApp. It's basically the fundamental design and structure needed for the creation of a dApp.

Smart Contracts

Smart contracts are computer programs that cannot be modified once implemented, and executed automatically when the criteria defined in it are met.

In simple terms, smart contracts are computer programs written in a programming language. They cannot be modified i.e, can't make changes once deployed. This contract has functions within it, that can be invoked and executed whenever needed. It can be executed automatically by defining it in a particular way. Smart Contracts form the backbone of dApp.

Smart contracts are deployed on blockchain-based networks. They have test networks, which are used in the early stages of development to verify the working of the app.

web3

Once the smart contract is activated and executed, the smart contract requires fuel costs. Smart Contracts run on a Virtual Machine. Ethereum manages the smart contract with EVM, the Ethereum Virtual Machine (EVM). The gas charges are paid in terms of cryptocurrencies. Ethereum makes use of Ether.

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