What technical challenges do Web3.0 development face?

Web3 is a new Internet vision based on blockchain technology, aiming to build the web into a more democratic and decentralized ecosystem of applications, tools and information. The technology behind the Web3 and Web2 iterations is still in its early stages and has some significant technical hurdles. These issues need to be addressed before Web3 technologies can be more widely adopted.

Development barriers

As we all know, blockchain is the technical support of Web3. At present, blockchain is trying to solve various problems in the field of encryption, that is, a few platforms have the advantage of decentralization and sell quickly and cheaply. Therefore, depending on the blockchain for many different uses and applications, developers also need to have technical skills related to the specific blockchain they are involved in.

For example, developers often use the Solidity programming language to build smart contracts for Ethereum; if you want to make great progress at Solana and work on the Tezos blockchain, you must learn Michelson. That is, each blockchain has created an independent market for itself in terms of programming languages, and each blockchain requires specialized skills. Until more players enter the market, there is a certain gap between public expectations and product delivery, which means that these developers are in high demand and their efforts will be well rewarded.

There are also solutions for Web3 developer problems, such as the PARSIQ Network, an all-data network designed to support Web3 dApps and protocols. One of the platform’s main solutions is Tsunami API, which is a protocol that provides real-time and historical data query capabilities to the blockchain and its clients.

Data Lakes are custom integrations of individual dApps and protocols, each with its own internal logic, also planned as an add-on solution. If the Data Lakes scenario is implemented, third parties interested in these dApps and protocols will be able to access them using these specific Lake APIs.

Interoperability

Although Web3 does not entrust the user’s assets to a centralized platform, but keeps it in the user’s wallet, there is still a small problem. For example, user A has participated in Metaverse A, and has beautiful clothing and shoes NFTs in MetaverseA. These NFTs guarantee users recognition and social influence in Metaverse A. At this point, user A’s friends start participating in the new MetaverseB. Since User A controls their own virtual assets, they should theoretically be able to transfer assets to Metaverse B intact, but this idea is practically difficult to operate.

In fact, interoperability is one of the main problems the blockchain industry is trying to solve, the ability of one blockchain to communicate with another blockchain. Without interoperability, assets on one blockchain cannot be used on another blockchain, resulting in various restrictions on users’ assets.

Some blockchains attempt to transfer assets from one blockchain to another by using “cross-chain bridges”. However, these cross-chain bridges are often slow, expensive and not secure enough. Therefore, they mostly fail to provide reliable service to the public.

Another solution to this problem is to build blockchain ecosystems specifically designed for cross-chain purposes, such as Polkadot, Cosmos, Injective, etc. However, the current cross-chain problem has not been solved to a large extent, and there is still a lot of room for improvement.

With the rapid development of Web3, the interoperability between blockchains has become an urgently needed function, and people have gradually accepted the concept of mutual cooperation, making it gradually possible. Ankr is one of the true multi-chain, decentralized infrastructure providers. Foremost RPC provider that allows developers to send requests to over 15 blockchains (Solana, Fantom, Ethereum, NEAR, Celo, Avalanche, Arbitrum, Polygon, BSC, IoTeX, Syscoin, Gnosis, Moonbeam, Harmony, Nervos) . One of the fastest growing Web3 infrastructure providers, which also offers node deployment and unlimited requests for Premium Program members, it aims to create an environment for “the overall social movement” as a “crypto-agnostic platform.”

Extendibility

Scalability is a very complex issue in blockchain technology and a major hurdle for Web3. The scalability issue arose back in 2016, when a game called “CryptoKitties” became popular and needed to be bred, bred, and traded on Ethereum. The game ran smoothly at first, but with the influx of users it quickly congested the Ethereum network, gas transaction fees skyrocketed, and the economic and time cost of playing the game was too high for players to bear.

This sparked a discussion about Web3’s scalability difficulties. Ethereum co-founder Vitalik Buterin also raised the “three difficulties of scalability”. According to the statement, blockchain can only choose two of its three elements: security, decentralization and scalability. For now, however, a second-layer blockchain appears to be the answer.

Layer 2 solutions help process transactions by reducing the main blockchain and passing through the second layer blockchain, while the final transaction is sent to the Ethereum blockchain.

Additionally, PARSIQ is another viable solution to the scalability problem in Web3, using a cloud-managed scalability model. PARSIQ components are deployed as cloud-hosted microservices in a modern architecture, enabling the platform to scale easily. Without such a design, horizontal scaling would be very difficult, especially given the rise in transaction throughput and blockchain data size. To improve speed, the platform also adopts a fragmented database architecture, dividing the database level across tables to improve performance.

Trend outlook

The proliferation of various blockchain ecosystems has brought prosperity to the entire Web3 ecosystem. Each chain has its own characteristics and advantages. Additionally, finance, publishing, media, healthcare, cybersecurity, education, music, gaming, all require different types of distributed accounts to facilitate their development. Web3 is establishing a new paradigm and creating new markets. If the public chain and the development team can compete and grow together, the entire market cake will become larger.