Web3 Basics

What is Web3?

Web3 is the third generation of the internet, characterized by decentralization, blockchain technology, and user ownership of data and digital assets. It represents a fundamental shift from centralized platforms to distributed networks.

The Evolution of the Web

Blockchain Technology

Blockchain is the foundational technology that powers Web3. It's a distributed ledger that records transactions across a network of computers in a secure, transparent, and immutable way.

Smart Contracts

Smart contracts are self-executing programs that run on the blockchain. They automatically execute when predetermined conditions are met, enabling trustless and automated transactions.

contract NFTMarketplace {
    function listNFT(uint256 tokenId, uint256 price) public {
        require(ownerOf(tokenId) == msg.sender, "Not owner");
        listings[tokenId] = price;
        emit NFTListed(tokenId, price);
    }
    
    function buyNFT(uint256 tokenId) public payable {
        require(listings[tokenId] > 0, "Not for sale");
        require(msg.value >= listings[tokenId], "Insufficient payment");
        
        address seller = ownerOf(tokenId);
        _transfer(seller, msg.sender, tokenId);
        seller.transfer(msg.value);
        
        delete listings[tokenId];
        emit NFTSold(tokenId, msg.sender, msg.value);
    }
}

Web3 Applications

Web3 applications (dApps) are decentralized applications that run on blockchain networks. They provide the same functionality as traditional apps but with added benefits of decentralization.