Web3 startups and software development companies are paving the way to a future where humans and machines can interact with data, assets, and other companies or individuals without requiring third-party involvement.
The Internet is arguably one of the most important technological developments in human history. It’s also a breakthrough technology despite being only 20 years old. The development process is said to be fairly rapid, going from Web1 to Web2 and a major transition to Web3 – the most recent paradigm shift to date. The world is currently on the MachineFi threshold, which means that the machine-driven economy will dominate the globe for decades to come, creating an Internet of Things (IoT) value of up to $12.6 trillion by 2030.
IoTeX (an open-source blockchain for the IoT industry) has addressed the critical question of who owns this trillion-dollar machine economy and focused on Web3 development and standards. These standards aim to allow multiple people and machines to interact securely and privately without relinquishing control over the data and the value it creates for Big Tech.
Robert Wolff, senior manager at Arm and evangelist of the developer ecosystem, claims:
“If we’re going to create Web3, we need to make sure we’re involved in creating those standards. Software developers want to optimize their workloads and run them as efficiently as possible on specific hardware with both hardware and software aspects, following established standards.
He also explains that “the more specialized and non-standard the hardware, the more complex the software and the need to access it, conversely, the more standard hardware, the less complex the software”.
From Wolff’s point of view, it’s not about which standard is better or more widespread.
“Suffice it to say, the adoption of standards throughout the hardware and software system is important for the benefit of developers.”
Team leader Arm and software development expert say companies and startups that adhere to the standards have a much higher chance of becoming market leaders.
Web3 is inherently decentralized. It improves the Internet by eliminating the single point of failure. It gives control back to everyone by decentralizing the internet and allowing all users (not just Google, Amazon, Apple and Facebook) to own their data and smart devices. This is not possible on Web2.
On Web3, decentralized applications (dapps) are built using open-source software that can be developed and fully viewed by a friendly, open developer community. Participants can interact publicly or privately on the network without the need for a trusted third party. And since no permit is required, all users and vendors can participate without regulatory approval.
Protofire co-founder Renat Khasanshyn said:
“I’ve been using open source since 2003 and now that’s what drives us and makes things so much easier. With open source, every big problem only has to be solved once.”
Andreas Freund, technical product manager at MOBI, spoke about open source and how the process has changed a lot in recent years. IoTeX and MOBI have partnered to drive innovation with blockchain in the automotive and mobility industries. Together they have built a non-profit coalition of vehicle manufacturers, insurance companies, NGOs and the world’s largest startups working to advance blockchain adoption in these industries. Andrew says:
“Not that many years ago, you basically wrote assembly code to get the job done, but couldn’t test anything until it was deployed. However, this is now possible, especially in more established ecosystems.”
He points out that there’s a good reason that anything new that comes out and catches the eye is mostly EMV compliant.
“Because there is an existing proven tooling ecosystem, including open-source smart contracts. You only have to solve the difficult problems once, then use them again and build from there. You keep working on what you already have.”
Renat shared other examples of how the developer community benefits from peers, open source, and working to be a part of community progress. Multi-signatures are another example of how newcomers are now benefiting from previous work, he said.
IoTeX Head of Growth Larry Pang says we need to prepare the new generation of builders for Web3. He asked Arm’s Robert Palmer to outline his strategy for inviting new people to join by emphasizing the open source material you make available for them to use and build upon.
“We welcome developers using EVM who are familiar with Solidity. These people can seamlessly transfer their development that takes place on the Ethereum chain to the IoTeX chain or other chains. And all of this is very beneficial to the community as a whole.
But in my opinion full adoption is beyond the capabilities of developers and beyond what the average person can benefit from. So what we need is a low code or no code,” explains Robert.
He says that from a user interface or experience perspective, it’s much easier to integrate smart contracts into processes than it is today.
“Developers have to step into the room thinking that if we’re going to be universally accepted, they have to focus on building and designing tools that make it easy for users.”
He explained that implementing smart contracts by everyday users should be as easy as setting up a car purchase. Users want to easily create smart contracts on blockchain to sell cars quickly and conveniently.
Robert commented:
“Community and education are very important to me. Without proper training material and a welcoming, supportive community, how can you provide a positive developer experience?”
Thanks to technology, the internet, and decades of innovation, there are now many developer tools to welcome new developers and community members. However, according to Robert, too many tools are also a disadvantage.
“Too many developer tools can create divisions in the community and/or fights over the best platform for each task you want or need to do. You need to understand your developers and their preferences just as you would market a product. No need to waste time recommending Slack or Discord to a group of experienced developers over IRC or Internet Relay Chat. They have been using IRC for decades.”
For Robert Wolff, therefore, it is necessary to “set up a full circle of platforms that allow developers to switch assets to get what they need. From the official code repository on GitHub, to official Twitter announcements, ad covers, tech support on the community forum, live chat and broadcasts on YouTube, content, blogs and everything.” .
“Developers need to feel like the community is there for them. And of course the community managers have to maintain it regularly to make sure it can give the developers what they need.”
Simone Romano has sent out a notice to all developers who haven’t tested on Web3. He challenged them to venture from Web2 to Web3 to see for themselves where all the fuss was.
“In my opinion, Web3 application development is really interesting because blockchain offers a higher quality of any product you build on it, whether it’s hardware or software. Even with just a few lines of code, anything built in Web3 is exceptionally better than anything built in Web2.
Web3 applications are better because they are censorship resistant by default. This censorship resistance extends the content of the app as well as payments. These applications will be unstoppable due to the decentralized nature of Web3, which gives each product an inherent reliability.
Even your simple reminder app cannot be removed from Web3 by anyone. The blockchain part of your application is permanently available for anyone to interact with. Of course, as the technology is still in its early stages, there are some limitations such as user experience issues.”
With that in mind, Simone called on developers around the world to get involved with the Web3 platform as a whole and help improve the status quo of user experience with better interfaces and tools.
“Open source and blockchain are a perfect combination. On Web3, token holders and users, not companies, can decide which projects are funded. Users can influence project priorities, what features to integrate, and more.”
The Protofire co-founder said he sees the potential of many new use cases on IoTeX by 2022. Many of these new cases could be used by developers, about 5% of what is already being developed in the world. EVM compatible.
Renat says some of the most obvious use cases are rentals. “For example, swan boats”. These pedal boat rentals are...
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