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-998

ERC-998 is a token standard on the Ethereum blockchain that allows for the creation of complex tokens that can contain other tokens. This standard enables the creation of tokens with hierarchical ownership structures, where a token can contain other tokens that represent sub-assets.

ERC-998 tokens are identified by a unique ID and can contain a mixture of fungible tokens and NFTs. This makes it ideal for creating more complex assets, such as collections of ERC-721 tokens.

Here are a few examples of ERC-998 tokens:

  • The Mokens project, which uses ERC-998 to create multi-token contracts (mokens) that can contain other tokens and assets
  • The Ocean Blue project, which allows users to create and trade tokens representing seashells, each of which can contain pearls and other seashells as ERC-998 sub-tokens

Let’s go over an example of an ERC-998-based smart contract. In this example, we will create a Token721 contract that represents...