The rapid advancement of blockchain technology and its increasing adoption have given rise to a novel era of internet technology, widely referred to as Web3 (read our intro to Web3 blog here). This decentralized version of the internet aims to deliver a safer, more transparent, and efficient online experience for users. In this article, we will explore the various technologies and protocols that constitute the foundation of Web3 and discuss how developers can build decentralized applications (dApps) utilizing these cutting-edge tools.
Developers aiming to create dApps on Web3 will have to gain a comprehensive understanding of the distinct protocols and technologies that make up this decentralized web. Some of the most notable Web3 technologies and protocols include:
Ethereum
Ethereum stands out as a decentralized, open-source platform that empowers developers to construct and deploy smart contracts and dApps. Its native cryptocurrency, Ether ($ETH), is the second-largest by marketcap, making Ethereum the top choice for many in the Web3 arena. A diverse group of developers has embraced Ethereum, leading to the development of various decentralized applications across industries such as finance, gaming, and supply chain management.
Interplanetary File System (IPFS)
IPFS is a protocol designed to enhance the web experience by offering faster, more secure, and open access using a peer-to-peer approach. It ensures content distribution across multiple nodes, providing data persistence and resilience in situations of failure or censorship. Unlike conventional web technologies that rely on centralized servers, IPFS promotes a distributed and more robust infrastructure, minimizing single points of failure, reducing latency, and enabling content access during offline periods or network restrictions.
Polkadot
Polkadot is a network protocol focused on scalability, interoperability, and security, enabling smooth data and asset transfers between different blockchains. This feature grants developers the freedom to create dApps with expanded capabilities. Polkadot's innovative architecture, consisting of a central Relay Chain and multiple connected Parachains, nurtures an environment where new blockchain solutions can be developed without the limitations of existing platforms.
Cosmos
Cosmos is an interoperable blockchain ecosystem that offers a decentralized network of scalable and interconnected blockchains. It equips developers with the necessary tools and infrastructure to build custom blockchains and link them to the Cosmos Hub. The Cosmos SDK, an integral part of the ecosystem, streamlines the development process by providing a modular framework. This approach enables developers to focus on the unique features and functions of their applications while benefiting from the shared security and interoperability of the Cosmos network.
Chainlink
Chainlink is a decentralized oracle network that permits smart contracts to securely access off-chain data feeds, APIs, and other resources. It provides reliable and tamper-proof inputs, enhancing the functionality of dApps. Chainlink's decentralized structure ensures that data is sourced from multiple independent nodes, reducing the risk of manipulation and bolstering the credibility of the information provided. This comprehensive method allows dApps to interact with real-world data and systems, expanding the potential use cases for blockchain technology across a variety of sectors.
For developers eager to build dApps on Web3, it's crucial to become acquainted with the variety of programming languages, frameworks, and tools used in these technologies. For example, Solidity is the primary programming language for creating smart contracts on Ethereum, while Rust and Go are popular choices for working with Polkadot and Cosmos.
Web3 offers a plethora of opportunities for developers to craft innovative and secure dApps. By understanding and leveraging the many technologies and protocols within this ecosystem, developers can contribute to the development of resilient, decentralized applications that will significantly impact the Internet's future. As the recognition of Web3's benefits and its potential to revolutionize online interactions grows, the demand for skilled developers in this field is sure to rise. At Divi Labs, we utilize a variety of the above tools and technologies to deliver the best of Web3 for our clients, helping them stay ahead in the ever-evolving digital landscape and harness the potential of decentralized solutions.
In our next article, we will be addressing the security and privacy implications of Web3. Stay tuned!