Book Image

The Essential Guide to Web3

By : Vijay Krishnan
3 (1)
Book Image

The Essential Guide to Web3

3 (1)
By: Vijay Krishnan

Overview of this book

Web3, the new blockchain-based web, is often hailed as the future of the internet. Driven by technologies such as cryptocurrencies, NFTs, DAOs, decentralized finance, and more, Web3’s aim is to give individuals more control over the web communities they belong to. Whether you’re a beginner or an experienced developer, this book will help you master the intricacies of Web3 and its revolutionary technologies. Beginning with a concise introduction to blockchain and the Ethereum ecosystem, this book quickly immerses you in real-world blockchain applications. You’ll work on carefully crafted hands-on exercises that are designed for beginners as well as users with prior exposure. The chapters show you how to build and deploy smart contracts, while mastering security controls and discovering best practices for writing secure code. As you progress, you’ll explore tokenization and gain proficiency in minting both fungible and non-fungible tokens (NFTs) with the help of step-by-step instructions. The concluding chapters cover advanced topics, including oracles, Layer 2 (L2) networks, rollups, zero knowledge proofs, and decentralized autonomous organizations (DAOs). By the end of this Web3 book, you’ll be well-versed in the Web3 ecosystem and have the skills to build powerful and secure decentralized applications.
Table of Contents (25 chapters)
Free Chapter
1
Part 1 – Introduction to Web3
5
Part 2 – All about Smart Contracts
9
Part 3 – Writing Your DApps for Web3
12
Part 4 – Fungible Tokens
15
Part 5 – Non-Fungible Tokens
18
Part 6 – Web3 Advanced Topics

What is tokenomics?

Token economics, also known as tokenomics, is a concept in the field of cryptocurrencies and blockchain technology that refers to the study and design of economic systems that govern the creation, distribution, and management of digital tokens within a decentralized ecosystem. Token economics aims to create a well-balanced, sustainable, and incentivized structure for participants in a blockchain network or a decentralized application (dApp).

Some of the key aspects of token economics are as follows:

  • Token supply: The total number of tokens that can ever exist and the schedule for their creation, such as fixed supply, inflationary, or deflationary models
  • Token distribution: The process and methods by which tokens are allocated to different stakeholders in the ecosystem, such as initial coin offerings (ICOs), token sales, airdrops, mining, or staking rewards
  • Token utility: The various use cases and functionalities of the token within the ecosystem...