Why are smart contracts inseparable from DeFi, NFT to Web3.0?

The popularity of NFT and Metaverse has not yet passed, and Web 3.0 has been pushed to the front of people again.Some people say that Web3, which is both decentralized and interactive, is trying to create a new Internet model.

A partner of Color Capital once posted on his personal social media platform “If you want to play Web3.0, understanding smart contracts is the key.” What is Web3.0? What does it have to do with smart contracts? From NFT to Web3.0, why are smart contracts inseparable? Today, let’s talk briefly.

We’re talking about Web 3.0

what exactly is it?

Before understanding Web3.0, we need to understand Web1.0 and Web2.0 first.

The so-called Web1.0 is the reading Internet, which is based on browsers. Users obtain content information through browsers, and content information is pushed by specific editors and maintenance personnel.

Web2.0 is the interactive Internet. Each user is no longer just a reader of Internet information, but also an author of Internet information. Similar to the UGC model of Weibo, Zhihu and other platforms, users have changed from passively receiving Internet information to taking the initiative. Create Internet information development.

The third generation of the Internet, Web3, is a combination of evolving technologies, including blockchain, NFT, digital avatars, and more. In the Web 3.0 era, not only can information on different platforms be directly interacted and updated with the platform, but users can also have their own data on the Internet, and gain benefits and dividends for the value they create for the platform.

is the infrastructure of Web 3.0

Just like the birth of Web2, the arrival of Web3 is closely related to people wanting to solve the problems existing in the Internet. Web3 exists on the blockchain, promising to return privacy and digital identity to users, while enabling new levels of interaction thanks to non-fungible tokens (NFTs) and decentralized applications (dApps).

Among them, the blockchain is a network with a high level of security and decentralization. People can store data, exchange value and record transaction activities in a shared ledger that is not controlled by any centralized entity. The blockchain network is the backbone of Web3, providing a secure execution layer in which cryptographic assets can be created, issued, and traded, and programmable smart contracts can be developed.

Smart contracts are based on blockchain, and are essentially a collection of codes that automate certain functions. As Web 3.0 networks will operate through decentralized protocols, and they will interoperate, seamlessly integrate, and automate through smart contracts, we can see a strong convergence and symbiosis between the two.

Why are smart contracts inseparable from DeFi, NFT to Web3.0?

From DeFi, NFT to Web3.0

How to ensure the security of smart contracts

The so-called smart contract is simply a set of computer programs. When the two parties to the contract conduct transactions on the blockchain, the program can be triggered to automatically execute the contract content when the conditions are met.

Smart contracts have the characteristics of decentralization, transparency, inviolability, automation, non-tampering, and anonymity. They can greatly reduce intermediate links, improve efficiency and reduce costs, and reduce the risk of interference. From DeFi, NFT to Web3.0, smart contracts are inseparable. But with the occurrence of various security incidents, we have to always pay attention to the security of smart contracts.

To efficiently detect the security of smart contracts , formal verification is an essential method.

In short, formal verification technology is a mathematical method that turns code into formulas and uses mathematical means to reason and prove. For example, it is necessary to formally describe the functions to be completed by smart contracts or other programs, then formally describe the code, and finally prove that the function implementation of the code is consistent with the design goals of the contract. Because both the target and the code are mathematically modeled, the entire process is mathematical reasoning to ensure that the results are true and valid.

Chengdu Lianan currently builds the chain must check v3.1 version, which can efficiently meet the security testing of smart contracts, and supports the adaptation of the alliance chain platform, and the products are highly customizable. In addition, there are various access methods, which can be accessed directly through the public cloud platform, which is convenient and fast. It can also be directly deployed on a private development environment server to provide enterprise developers with smart contract security detection functions.

Why are smart contracts inseparable from DeFi, NFT to Web3.0?

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/why-are-smart-contracts-inseparable-from-defi-nft-to-web3-0/
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