The document discusses the growing relevance of the web3 tech stack for web2.0 developers as companies invest in decentralized technologies. It highlights the key components of web3, including blockchain, cryptocurrency wallets, and distributed storage solutions, while emphasizing the importance of learning Ethereum for developers. Additionally, it outlines factors that businesses should consider when transitioning to web3, such as individual ownership, token economics, and the role of DAOs.

1. What Web 2.0 Developers Should
Know About The Web3 Stack
Despite the fact that the Web3 developer ecosystem is a small part of the greater online
developer ecosystem, it appears to be rapidly increasing, so it makes sense to try to figure
out what makes up the Web3 tech stack. This is the main reason why companies have
started investing their time in it. As a result of which various Web3 Development Company
have emerged as per the changing trends in the market.
We know it incorporates decentralisation through blockchain and identity through
cryptocurrency wallets. You've probably heard of distributed storage systems with grandiose
names like the InterPlanetary File System (IPFS). But what more must developers master in
order to enter the Web3 world? What role does existing web technology, such as JavaScript,
play in Web3?
Nader Dabit, a developer relations engineer for a Web3 business called Edge & Node, wrote
the clearest definition of the Web3 stack I've seen thus far. Dabit and I first spoke in August
2020, when he was working as a serverless expert at Amazon Web Services.
He had just published "Full Stack Serverless: Modern Application Development with React,
AWS, and GraphQL" with O'Reilly Media at the time. He took his skills into the emerging
Web3 world in April 2021. He's working with Edge & Node on The Graph, which is "a Web3
protocol for indexing and accessing blockchain data with GraphQL."
Learning Ethereum (and Rust)

2. Now we'll look at the more advanced features of the Web3 stack. Most developers are aware
of the concept of a blockchain, which is essentially a distributed data ledger. However, there
are numerous sorts of blockchains. Bitcoin and Ethereum are the two most essential (and
not coincidentally, the cryptocurrencies associated with those blockchains are the two
market leaders).
But, as Ethereum developer Justin Drake put it in an episode of the podcast Web3
Breakdowns, Bitcoin is "about as programmable as a calculator." Ethereum, on the other
hand, is a completely programmable "Turing-complete" computer.
Because of Ethereum's programmability, a new paradigm of a blockchain-focused web
development stack dubbed "Web3" has emerged. One of Ethereum's tenets is that you can
theoretically construct anything on top of it.
To use Web 2.0 jargon, it's a web platform. Ethereum is the most popular Web3 platform,
and it works with a variety of different blockchains. So learning how to use Ethereum is the
major stepping stone to become a Web3 developer.
You may have heard that Solidity, the Ethereum blockchain's programming language, is
similar to JavaScript. While this is correct, Solidity is only used to create "smart contracts" for
blockchains, which entails placing data on a blockchain with any instructions for that data.
How to Save and Query Data
Data storage and use is one of the most difficult aspects of Web3 development. While
blockchains excel at being "trustless" chains of immutable data, they are inefficient in storing
and processing massive volumes of data, particularly for dapps. IPFS, Arweave, and
Filecoin are examples of file storage protocols.
Arweave is an open source project that claims to be "a protocol that allows you to store data
permanently, sustainably, and for a single upfront charge." It's essentially a peer-to-peer
(P2P) network with its own set of crypto jargon — its mining method is known as "Succinct
Proofs of Random Access (SPoRAs)," and developers can deploy apps to the "permaweb"
("a permanent and decentralised web built on top of the Arweave").
To make matters even more complicated, dapp developers can use "off-chain" solutions, in
which data is held somewhere other than the main blockchain. "Sidechains" (secondary
blockchains) and so-called "Layer 2" (L2) solutions, such as Bitcoin Lightning Network and
Ethereum Plasma, are two examples. Check out Shashank Golla of data API startup
Fauna's new essay on The New Stack for more on how to handle data management in
Web3.
The Web3 Developer's Conundrum: Decentralisation

3. Traditional web programming skills, from JavaScript to Rust, will serve you well in Web3
development, according to the Web3 stack presented by Dabit. However, you'll need to learn
how to build blockchains using smart contracts and adjust to the strange realms of crypto file
storage and off-chain solutions.
From the perspective of a developer, Web3 appears to be in a phase of transition,
attempting to move away from reliance on centralised services such as Coinbase, OpenSea,
and Alchemy. But that's where the difficulty begins, because true decentralisation for dapps
is really difficult to establish.
Things Companies Need to Know About Web3
Web3, a technology that is both transformational and disruptive, is on the verge of becoming
Gutenberg. The incumbent Web2 enterprises will very certainly face the brunt of the
transition.
Blockchains have the potential to dramatically reshape ownership, cost structures, business
models, value, and negotiating power in a wide range of industries. The shift in the variables
that govern consumer behaviour will be incredibly quick, even by the standards of the
fast-moving area where Web2 titans operate. Where do you start as a product manager at a
huge IT company?
Here are six essential factors to be aware of in order to prepare for what lies ahead:
● Wallets & Identity
Instead of an email address or a user name, your crypto wallet is frequently used as your
login credentials on Web3. It's a single-sign-on system that allows the wallet owner to remain
entirely anonymous while also allowing access to decentralised apps (dApps) on several
blockchains. Many Web3 projects begin with custodial wallets, which store the user's
cryptographic keys, but most eventually move to a non-custodial model, giving consumers
complete ownership.
Consumers can use wallets to manage their digital identities, digital assets, and online data
in ways that Web2 does not allow. They also give users the opportunity to control access,
limiting an Internet company's ability to utilise personal data and assets such as videos,
articles, viral posts, and so on. And we've only begun to touch the surface of what wallets
are capable of.

4. ● Individual Ownership, Self Governance & DAOs
Understanding and influencing consumer decisions is the goal of behavioural economics.
Consumers are drawn to Web3 projects because they reward engagement and distribute
ownership. An NFT of a blog post, for example, transfers ownership to the author, allowing
for an equitable distribution of money between the writer and the platform.
This principle is applied to decision-making in decentralised autonomous organisations
(DAOs). Consider a DAO as a company with a constitution that includes fundamentals,
principles, and rules written in code. Instead of being monopolised by leadership, the nexus
of control is widely diffused among the members. Members are compensated in accordance
to the amount of work they put in. This, in principle, better aligns DAOs with their members'
interests.
● Token Economics
Web3's incentive systems are powered by tokens. They can be used to reward stakeholders
and users equally, as well as motivate behaviour and safeguard the network. While
tokenomics has its limitations, it is a useful tool for establishing trust and transparency,
automating verification, assuring compliance, and lowering expenses.
What kinds of things can be tokenized? Why, just about anything and everything, from social
media likes and shares to good citizenship activities like recycling and donating to charity,
and so forth. The token economy will be comparable to the app economy, but it will be far
broader, more diverse, and more integrated.
● Loyalty and Community
There's a lot that can be done to improve how brands connect organically with their internet
fan base. As a result, many fashion businesses are experimenting with Web3 tactics, such
as creating secret Discord channels, providing designers with access to collaborative NFT
projects, and airdropping tokens.
The goal is to offer designers more stake in the game and provide greater value to fans and
high-net-worth clients. For business goals, loyalty may eventually take centre stage. Web3
projects may give away network access to generate loyalty, similar to how Web2 enterprises
give out information to build networks.
● NFTs in Supply Chain

5. Blockchain supply chain applications were among the first to catch the attention of
businesses. With more third parties in the supply chain, logistics are growing more
complicated. Transparency, reliability, and end-to-end visibility are all becoming increasingly
important. Blockchain has the potential to alleviate this strain.
● Validator Nodes
Many blockchain protocols rely on validators, or network participants, to guarantee the
network by pledging tokens as collateral, a consensus technique called Proof of Stake.
Validator node operators are tasked with ensuring the authenticity and validity of network
transactions in exchange for a payout. Validator node as a service solutions remove a major
barrier to entry, making it much easier to participate in the blockchain network and
governance.
Final Words
Polygon can help Web2 enterprises get started with Web3 initiatives and future-proof their
operations. Polygon provides access to its massive ecosystem of over 7,000 dApps, a big
developer community, and substantial and constantly updated documentation, in addition to
help on how to build governance and tokenomics. These are only a few of the reasons why
companies such as Adobe, Telefonica, and Dolce Gabanna have chosen Polygon as their
Web3 entry point.
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