Web3 is built using a combination of different technologies, including:
1. Blockchain: The underlying technology that powers Web3 is blockchain. Ethereum is one of the most popular blockchain platforms used for Web3 applications.
1. Decentralized Storage: Web3 applications rely on decentralized storage solutions like IPFS, Swarm, and Storj to store and access data in a distributed manner.
1. Smart Contracts: Smart contracts are self-executing contracts with the terms of the agreement between buyer and seller being directly written into lines of code. They are used to automate transactions and enforce rules in Web3 applications.
1. Cryptography: Cryptography is used for securing data and transactions in Web3 applications. It includes techniques like public-key encryption, hashing, digital signatures, and more.
1. Consensus Mechanisms: Consensus mechanisms like Proof of Work (PoW), Proof of Stake (PoS), and Delegated Proof of Stake (DPoS) are used to validate transactions and maintain the security of the network.
1. Web3 APIs: Web3 APIs like Web3.js, Ethers.js, and Web3.py are used for building interfaces between the Web3 application and the blockchain.
1. Identity and Access Management: Identity and access management (IAM) solutions like uPort, Civic, and SelfKey provide a secure way to manage user identities in Web3 applications.
