November 04, 20212 min read

Web3 Is A Recipe of Technologies - Understand The 3 Main Ingredients To Help Guide Your Research Towards A Better Understanding

Ship 30

Web3 is a mysterious & magical world.

Profile pictures changing like wild fire. Internet moguls leaving their comfy 6 figure jobs in pursuit of DeFi. 14 years olds making over a million dollars selling digital art.

The world of tech changes quickly, and Web3 is no different.

Unless you pay close attention and follow reputable sources, it can be daunting to keep up.

The past month I've immersed myself in this digital world -

  • Bought my first NFT

  • Joined a DAO

  • Researching Web3 technologies for a side project

Let me help unpack the pillars on which Web3 is built. You'll see it's a lot more familiar than you'd think.

Smart Contract-Enabled Blockchains

Ethereum, Solana, Avalanche.

Any blockchain which supports a smart contract falls in the Web3 bucket.

While operating as a cryptocurrency for DeFi transactions, the ability to mint NFTs and tokens allows for decentralized apps to be built.

Your coins & tokens live within a browser-based wallet through an extension used to iteract with webpages.

Tokens

NFTs, yes those square little 8-bit PNGs everyone is talking about.

These are the enablers of Web3.

Tokens grant access to communities, ownership of digital property, and provide incentives for holders to continue supporting projects.

Your view of the web will fundamentally change after buying your first NFT.

Open Web Standards

Since Web3 is so new & shiny, many people fail to understand that the original web is the infrastructure upon which these technologies have been built.

You can stay within your browser of choice, use webpages like you have since the 90s, and bring along your coins & tokens to start owning a piece of the web.