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

Common token standards in Ethereum

Ethereum, as a platform, supports the creation and use of several types of tokens. Tokens built on Ethereum usually follow specific standards that define a set of rules and functions that make them compatible with existing wallets, exchanges, and dApps. Let’s look at some of the most common Ethereum token standards.

ERC-20

The Ethereum Request for Comments 20 (ERC-20) standard is a widely adopted token standard on the Ethereum network. ERC-20 tokens are fungible, meaning that each token is interchangeable with another of the same type. They follow a predefined set of rules and functions, ensuring compatibility with a wide range of wallets, exchanges, and dApps.

Here are some examples of ERC-20 tokens:

  • Chainlink (LINK): A decentralized oracle network token used to connect smart contracts with off-chain data
  • BAT: A digital advertising token used to reward users for their attention within the Brave browser ecosystem
  • USD...