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

Understanding NFT standard ERC-1155

ERC-1155 is a token standard on the Ethereum blockchain that allows for the creation of both fungible and non-fungible tokens within the same contract. This standard was introduced to improve efficiency and reduce gas costs by allowing multiple tokens to be minted or transferred in a single transaction.

ERC-1155 tokens are identified by a unique ID, and each ID can represent either a single NFT or a collection of fungible tokens. This makes it ideal for creating game assets, where players can own unique items as well as currency that can be used to purchase in-game items.

Here are some examples of ERC-1155 tokens:

  • Enjin Coin, which is used to purchase and trade gaming assets on the Enjin Marketplace
  • ChainGuardian, a blockchain-based game where players can collect both unique heroes and in-game currency as ERC-1155 tokens

Now, let’s look at an example of a smart contract for ERC-1155. This Solidity smart contract represents...