Technologies used on web3

Web3, also known as the decentralized web, is built on a variety of technologies that enable its decentralized and peer-to-peer architecture. Some of the key technologies used on Web3 include:

Blockchain technology: Blockchain technology is the foundation of Web3, providing the decentralized and secure ledger that enables peer-to-peer transactions and smart contracts. Decentralized file storage: Web3 relies on decentralized file storage systems, such as the InterPlanetary File System (IPFS), which allows files to be stored and accessed in a peer-to-peer manner.

Cryptography: Cryptography is used extensively in Web3 to secure transactions, verify identities, and protect data privacy.

Smart contracts: Smart contracts are self-executing programs that run on the blockchain, enabling complex transactions and automated processes without the need for intermediaries.

Consensus mechanisms: Web3 relies on consensus mechanisms, such as proof-of-work and proof-of-stake, to maintain the integrity and security of the blockchain. Peer-to-peer networking: Web3 uses peer-to-peer networking to enable direct communication between nodes on the network, without the need for centralized servers.

Interoperability protocols: Interoperability protocols like Polkadot and Cosmos enable different blockchain networks to communicate and share data, creating a more interconnected and decentralized web.

Overall, these technologies work together to create a more decentralized, secure, and transparent web that is less reliant on centralized intermediaries and more open to innovation and creativity.