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Web 3.0
Web 2.0 and Web 3.0 refer to successive iterations of the web, compared with the original Web 1.0 of the 1990s and early 2000s. Web 2.0 is the current version of the internet with which we are all familiar. Most of the apps that we use today like Facebook, Twitter, and Google are web2 apps.
Web 3.0 represents the next iteration or phase of the evolution of the web/internet and potentially could be as disruptive and represent as significant a paradigm shift as Web 2.0 did. Web 3.0 is built upon the core concepts of decentralization, openness, and greater user utility.
Some of the Web3 features are:
Web3 is decentralized: instead of large swathes of the internet controlled and owned by centralized entities, ownership gets distributed amongst its builders and users.
Web3 is permissionless: everyone has equal access to participate in Web3, and no one gets excluded.
Web3 has native payments: it uses cryptocurrency for spending and sending money online instead of relying on the outdated infrastructure of banks and payment processors.
Web3 is trustless: it operates using incentives and economic mechanisms instead of relying on trusted third parties.
If you are not a web3 user, there are two web3 projects that help you get familiar with web3: Layer3 and Galxe.
Cross-Chain
The Web3 ecosystem is increasingly becoming multi-chain, with decentralized applications existing across hundreds of different blockchains and layer-2 solutions and this trend is likely to continue.
However, blockchains are not natively capable of communicating with each other. The backbone of blockchain interoperability is cross-chain messaging protocols, which enable smart contracts to read and write data to and from other blockchains.
A core element of cross-chain interoperability, a cross-chain bridge is an infrastructure that enables tokens to be transferred from a source blockchain to a destination blockchain.
LIFI
LIFI is a Web 3 project that creates the necessary infrastructure to create a multichain world for users and developers. It does that with two major products: SDK for developers and web3 projects, a powerful bridge, and a DEX aggregator for users.
LI.FI SDK helps developers to offer on-chain swaps, cross-chain swaps, and a combination of both. Arbitrary function calls and cross-data messaging allow for more complex strategies. They aggregated all the bridges, DEXs, and DEX aggregators so that projects don’t have to.
Another product of LIFI is a powerful bridge and DEX aggregator that supports many chains, bridges, and DEXs. LIFI offers several routes to users that users can choose their desired route manually or let LIFI do this based on the features predetermined by the user. Among these features, we can mention the percentage of slippage, choosing the desired bridges and DEXs, and determining the priority of security, cost or time.
Whether you are a Web3 user or a Web3 developer, LIFI provides the infrastructure you need to enter the multi-chain world. More information can be found in the following links:
https://twitter.com/lifiprotocol
resources: li.fi, ethereum.org, chain.link
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