The Best Web3 Video Explanation

Web3 is on the rise and there is no stopping it. It is not new but it is now the time it's gaining traction with the millions. It is the next major technology in web development. The opportunities for job seekers in the field of web3 are growing day by day. There is high demand for blockchain developers, Web3 developer, as well as other positions related to web3. There are many jobs and opportunities in web3 and the demand will continue to grow in the coming years.

Why Web3 is Changing the Future

For someone who is just beginning in the web3 development space, it can be hard to understand some terms and concepts. Previously, Web1 was mostly end-user-oriented. It was primarily used for consumption of information.

Web2 started with the rise of social media which allowed users to create content on the internet. This led to the rise of the content creator on the internet and eventually becoming a celebrity. In this time, the content creator and consumer both develop.

Web2 is also known for the centralization of the data. Large corporations manage the data of the entire globe. One corporation owns several companies that acquire information from different sources. This is one of the problems for the internet2 and caused the new revolution of the internet.

WEB3

Web3 is considered the next step in the evolution of the internet. Web3 refers to the centralization of information through blockchain-based applications and the use of the token to facilitate economic transactions. Web3 is the term "Web3" was coined in 2014 by Ethereum co-founder Gavin Wood. The term has only gained traction in recent years due to the abundance of tools and platforms that can be used to develop the blockchain-based application.

Developers have mixed opinions about web3. Some consider it to be an unsustainable trend that will not last for long. I am a believer that there is a future for Web3 due to following reasons:

Communities are growing in recent times to help in learning and growth. 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 try out the web3 at a minimum once. Web2 and Web2 as well as Web3 will co-exist with one another in the near future. Let's look ahead to learn about web3 better. Blockchain is a permanent ledger system that tracks the transactions and is shared across the node i.e, the computer participating on the internet. Blockchain Development

The concept of blockchain was popularized by a particular person (or group of people) with the assumed pseudonymous name Satoshi Nakamoto in 2008. Blockchain solved the problem of decentralization of data in Web2. As information is distributed among the various nodes, there is no single person or entity having all the data.

Web3 Applications are founded on the blockchain concept. Bitcoin is an example of blockchain. It works as a ledger system that can be used for payments however, it can also be used to facilitate any kind of data transfer. There are a variety of networks based on blockchain such as Ethereum, Polygon, Solona, Avalanche, and other.

Dapp or Decentalized Application are those application that uses smart contracts that are based on blockchain netwrok for its functioning.

dApp

Dapp(Decentralized application) is the same app that is a web application but with the sole exception of smart contracts. It is possible to split the Dapp into these parts:

It's the norm in web development. It is essential to have your front end developed using HTML, CSS, and JavaScript. You can utilize any framework, like React, NextJS, or any other framework.

The backend can be used to connect to the smart contract running in the network. You can integrate this feature into your frontend too, but separate the frontend and the backend will allow you to control the app with ease.

Smart Contract will be deployed on the blockchain network. Our application will interact with it to ensure the operation for the app. NFT Marketplace is an example of dApp. This is pretty much the standard design and structure needed for the creation of a dApp.

Smart Contracts

Smart contracts are computer programs that cannot be modified once installed, and are automatically executed according to the requirements that the contract are met.

In simple terms smart contracts are computer programs that are written in a programming language. These are non-changeable i.e, can't make changes once deployed. This contract has functions within it, that can be invoked and executed when required. It is able to be executed automatically by defining it in a particular manner. Smart Contracts form the backbone of dApp.

Smart contracts are built on blockchain-based networks. There are test networks, which are utilized during the development stage to check the operation of the app.

When the smart contract is activated and executed, the smart contract needs gas fees. Smart Contracts are executed by the form of a Virtual Machine. Ethereum manages the smart contract with EVM, the Ethereum Virtual Machine (EVM). The gas charges are paid using cryptocurrencies. Ethereum makes use of Ether.