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by Finage at August 19, 2022 • 4 MIN READ
Technical Guides
It is no secret that the Web3 avenue is difficult to understand even for the most experienced in other similar areas. In the world of blockchains, some would think of this one as a premium version of the platform. In all honesty, experts' opinions on Web3 and its accompanying tech stack vary depending on their points of view.
The best way to see things is from an objective standpoint that delivers all the facts as they are. This means that we have to conduct a close and concise view of Web3, similar platforms, the tech they often handle and support, and how to ease into it. Seeing that this is a close look at this part of the blockchain, an understanding of Web3 is more than warranted.
Web3 in details
The Web3 framework
The tech stack
Blockchain
The Blockchain Node
The P2P database
The decentralized file storage
Authentication
Front-end implementation
Final thoughts
This platform is often thought of as being the blockchain in its entirety and though this is true in a way, that only partly explains what it is. Despite being built within the blockchain system, the differences begin to show once the development of Web3 is further down the road. A prime example of this can be shown through how applications built under this platform contrast with those in Web2.
In Web2, there is a sense of centralization in the app build and this is something that is lacking in our titular platform. As such, Web3 can be defined as a platform used to create decentralized applications in the field. The nature of such a platform often means that it cannot be built under one roof and instead relies on various places and rules for development.
In the modern age, a decentralized platform like this one is not only useful but highly sought after for several reasons. For starters, any platform built is responsible for itself, which means that all data will belong to the owner. This brings in an element of trust in the system that has not existed before. Another benefit of using such a platform is its ability to reassemble itself to fit the requirements of a user, thus making them more composable than other platforms. This is achieved mainly through their unique approach to mining user information and sharing it.
With our brief look at Web3 out of the way, it is time to look at its intricacies and what makes it function at its best. The building of an application on such a platform is fairly similar to its Web2 counterpart as they both undergo a similar frontend beginning. However, the tail end of the development greatly varies. The first noticeable difference in the tail end of development is the incorporation of the blockchain node and its more central role when it comes to handling data. Once this is done, the data is then decentralized to form a framework of blockchains. This decentralized nature also speaks to how data is stored. Storing the data is to be taken care of through the P2P system that accompanies both the node and the storage system. To keep up with the decentralized theme, the final piece is the wallet that uses a private key-style authentication method to ensure the user’s identity.
With the knowledge of the general structure of Web3, we can further look at how each element operates. The following is an in-depth look at the components of this framework:
This is the most important part of the process and requires careful consideration as your platform will be built around it. A wide array of things influence what blockchain you decide to use and these range from gas fees to decentralization. Ethereum is the blockchain most commonly used, but others such as Solana are present and in reality, the choice will vary depending on what is needed.
This component will play the role of server for the blockchain, running the entire software. As such its job is to monitor the ledger and work as a communication hub for network tasks.
It is logistically difficult to store data on the blockchain and the solution to this problem is to have a way of keeping information off-chain. This is the purpose of peer-to-peer databases, which keep information in streams and away from centralized servers.
After this, the storage system has to be tailored specifically for it. Because of the database's tabular nature, a similar P2P file storage like the Arweave style is best.
The security in Web3 is considered to be one of the best due to the difficulty set to counter hacking. Only users can log into their smart contract, keeping everyone out by using wallets like MetaMask.
One should know that both Web2 and Web3 have the same front end. Despite this, the general way in which their backend works is different as we have seen.
Web3 is so popular that it has more or less become the consensus platform for the average developer. Despite this, the use of other platforms is still prevalent in this space, and adapting to the new age can be rather difficult. Though the above information will give you some insight into the space it is best to also consult those who are more experienced in the technology because Web3 is not going anywhere anytime soon.
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