Nader Dabit transitioned from a Web2 role at AWS to the Web3 world at Edge & Node. He recently gave a talk at Next.js Conf on the tech stack to build with Web3 technologies. Here are some notes that I took on the talk.
- The decentralized web
- Web1: read-only web. You needed to be a dev to create; everyone else was a consumer.
- Web2: read/write/interactive web. Anyone can be a creator.
- Web3: web protocols (SSH, TCP, HTTP) + native payments & state
- Buying on the internet vs building the internet
Attributes of Web3
- Ownership of data/platform
- Native digital payments
- Self-sovereign identity
- Distributed trustless & robust infra
- Open and public backends
- Apps compete on interfaces for the same data
Types of Applications
- Fortnite. Web3-fying a Web2 game. 100% of money to this game cannot be taken out. Axie Infinity allows players to earn tokens by playing. 95% of money goes back to the users/players of the game.
DeFi & Stable Currencies
- Inflation and government crisis in Venezuela, Lebanon, Zimbabwe, Sudan
- People need to leave the country because they've lost their ability to provide for themselves and their families
- Stable coins are pegged against the US dollar; people can get paid in these instead of their local currencies
- 1.7B people are unbanked; Web3 can provide access to this under-served demographic
- Web2: exploitation, advertising, zero ownership. Exchange your content for hearts and likes (gain followers)
- Web3: tokenization, content ownership (follower gains)
- How do you query data from blocks on the blockchain? The data isn't as easy to query as Web2 databases.
- The Graph.
Off Chain Data
- Livepeer. 10x cheaper than any other centralized alternative.
- IPFS. Decentralized file storage network; not guaranteed how long the files will be stored
- Arweave.org. Protocol that allows you to store files permanently.
Authentication & Wallets
- Typical infrastructure + smart contracts
- Progressive decentralization --> full decentralization
- Client framework, Blockchain, Client library, Wallet
- Building a dapp: Ethereum, Avalanche, Solana, Fantom, Near
- Ethereum Virtual Machine (EVM): learning this will allow you to build on several different blockchains
- Starter Stack: Next.js, Hardhat, Ethersj.js, Metamask