Web 2.0 is the second stage of internet development, distinguished particularly by the shift from static web pages to dynamic or user-generated content and the advent of social media.
Tim Berners-Lee, the creator of the World Wide Web, dubbed web 3.0 the “Semantic Web”, with the goal of creating a more autonomous, intelligent, and open internet.
The description of web 3.0 may be broadened as follows: data would be networked in a decentralized manner, which would be a significant improvement over our present generation of the internet (web 2.0), where data is largely held in centralized repositories.
Stablecoins are cryptocurrencies whose prices are intended to be tied to another cryptocurrency, fiat currency, or exchange-traded commodities and their value remains stable relative to the currency it is pegged to.
An NFT or a Non-Fungible Token is a structured unit of data representing the properties of a unique entity or the entity itself( if it’s a digital asset, then all its properties are contained by the NFT).
PoS (Proof of Stake)¶
Proof of Stake is a consensus mechanism that is used to validate cryptocurrency transactions.
Owners of cryptocurrencies can stake their coins in this system to become validators. This empowers them with the ability to review fresh blocks of transactions and add them to the blockchain.
These validators are then rewarded for their efforts or penalized if they attempt to defraud the system and get caught.
Delegated Proof of Stake (DPoS)¶
DPoS is a consensus protocol best suited for public blockchains that envision scaling rapidly without forgoing security by offering Byzantine Fault Tolerance (BFT).
Coin burning is the technique by which cryptocurrency miners and developers remove a set percentage of coins from circulation in order to regulate their price. They do this by sending the coins to an address from which they are irretrievable.
InterNFT is the implementation of the NFT interface. The interNFT interface is designed to provide maximum application logic freedom in a single interface, focusing on interchain ownership transfer.
It is an NFT metadata standardization (like ERC721 and SG721) supporting up to 22 unique attributes.
A storefront is essentially an e-commerce store.
AssetMantle components enable creators to open their own storefronts wherein they can sell NFTs like they would sell products on an e-commerce store.
Think of it like a fully-customizable plug-and-play platform for NFTs where the project is open-sourced, allowing anybody to create an on-chain interface to represent their own assets in the form of modular NFTs. Artists, curators, and collectors may easily build their own stores with the ability to tailor them to their own demands.
InterPlanetary File Storage, or IPFS, is a distributed system that allows you to store and access files, webpages, apps, and other data.
Asset tokenization is the process by which an issuer produces digital tokens that represent either digital or real assets on a distributed ledger or blockchain.
InterChain is a blockchain interoperability framework that links all SubChains together.
Inter-Blockchain Communication (IBC) is a protocol used by the Cosmos ecosystem of blockchains that enables seamless and scalable interoperability and empowers inter-blockchain transfer of assets.
This open-source protocol is what makes Cosmos a sovereign network.
Tendermint Core is a Byzantine Fault Tolerant (BFT) consensus engine and is considered the gold standard consensus engine for building Proof-of-Stake systems.
As of April 2022, it is the most (and only) mature BFT consensus engine in existence.