What is Web3
Last updated
Last updated
Note that Daoing is handling anything Web3 related for their users, so you don't need any prior knowledge about Web3 to start using Daoing. You can learn more about Web3 while using the app.
To quickly start exploring Web3, you need to understand:
To start making blockchain transactions, you need to:
Create a blockchain wallet
Understand what is
gas tokens or get some from your friends
Once done, you can start making blockchain transactions such as transferring tokens or minting NFTs.
There is no official definition of what Web3 is but here are some references.From : Web3 (also known as Web 3.0) is an idea for a new iteration of the World Wide Web which incorporates concepts such as decentralization, blockchain technologies, and token-based economics.From : Web3 is being touted as the future of the internet. The vision for this new, blockchain-based web includes cryptocurrencies, , , decentralized finance, and more. It offers a read/write/own version of the web, in which users have a financial stake in and more control over the web communities they belong to.From : Web3 has become a catch-all term for the vision of a new, better internet. At its core, Web3 uses blockchains, cryptocurrencies, and NFTs to give power back to the users in the form of ownership. said it best: Web1 was read-only, Web2 is read-write, Web3 will be read-write-own.
A token is a record of ownership of an asset.Tokens can be fungible or non-fungible:
Fungible tokens are interchangeable (e.g. the US dollar, bitcoin).
Non-fungible tokens (NFTs) are unique (e.g. a piece of art).
What is Gas Token?
Gas tokens (sometimes called Native Tokens) are the token payments made to complete a transaction on a blockchain. Examples of gas tokens include Ether on the Ethereum Blockchain, or SOL token on the Solana Blockchain.
A blockchain is a linked list of transactions stored on a network of computers. Blockchains are:
Decentralized: Transactions are on a network of computers (nodes).
Immutable: Transactions cannot be changed once committed.
Open: Transactions can be viewed by anyone.
Cryptocurrency is digital money that’s stored on a blockchain.You can send and receive crypto...
without middlemen such as banks extracting fees
without revealing your personal information
at any time to anyone in the world in seconds or minutes
in fractional shares (e.g. you can send 0.00000001 bitcoin)
However, you do need to...
pay network fees (e.g. Ether gas) which can be as high as bank fees on some blockchains
deal with large price fluctuations
be wary of scams and phishing attempts
NFT (Non-Fungible Token) are just a certain form of tokens. Read more about them .
In the context of Web3, a wallet (also called crypto wallet) is a piece of software or hardware that lets you own different cryptocurrencies and make transactions on a blockchain. Read more about wallets .
You can check out our .