Currently, the underlying Web 3 infrastructure or stack is limited to being defined in "layers" (L1 / L2), but…
The future stack of #Web3 is not limited to 2 or more layers.
Instead, it's an agnostic stack of many different lego blocks, including the - Transaction Lego🧵👇
The future stack of #Web3 is not limited to 2 or more layers.
Instead, it's an agnostic stack of many different lego blocks, including the - Transaction Lego🧵👇
2/
Let's preface by understanding that a "transaction" in Web 3 means -- the process of exchanging #cryptocurrencies on a blockchain.
So keeping that in mind, here's how we can define "Transaction Lego"👇
Let's preface by understanding that a "transaction" in Web 3 means -- the process of exchanging #cryptocurrencies on a blockchain.
So keeping that in mind, here's how we can define "Transaction Lego"👇
3/
"Transaction lego" includes all the services required to execute a transaction on your #dApp, which most users struggle with.
The need for a better transaction infrastructure is obvious from:
- high gas fees, or;
- failed transactions pricing out non-whale users
"Transaction lego" includes all the services required to execute a transaction on your #dApp, which most users struggle with.
The need for a better transaction infrastructure is obvious from:
- high gas fees, or;
- failed transactions pricing out non-whale users
4/
One example of a transaction lego is "Gasless," a plug-in solution that allows dApps to abstract gas from the user-end, allowing for a frictionless experience.
Another example would be...can you guess?
One example of a transaction lego is "Gasless," a plug-in solution that allows dApps to abstract gas from the user-end, allowing for a frictionless experience.
Another example would be...can you guess?
5/
The answer is:
Biconomy's Hyphen allows a direct exchange of assets from one blockchain to another.
This abstracts away long user journeys, bridging costs, & redundancy, & allows users to access dApps across different networks seamlessly.
The answer is:
Biconomy's Hyphen allows a direct exchange of assets from one blockchain to another.
This abstracts away long user journeys, bridging costs, & redundancy, & allows users to access dApps across different networks seamlessly.
6/
Summing up, transaction lego means all these solutions that should never be consumer-facing and should be integrated into dApps' backend.
This lego is basically the B2B side of the #crypto economy.
Summing up, transaction lego means all these solutions that should never be consumer-facing and should be integrated into dApps' backend.
This lego is basically the B2B side of the #crypto economy.
7/
So if you thought that a dApp in #Web3 is simply a bunch of smart contracts on the blockchain, you would realize that that is just one part of the bigger picture!
It is important to have both a macro and micro focus while starting in Web 3
So if you thought that a dApp in #Web3 is simply a bunch of smart contracts on the blockchain, you would realize that that is just one part of the bigger picture!
It is important to have both a macro and micro focus while starting in Web 3
8/
The future is pluggable and composable - the future is Biconomy👇
biconomy.io
If you learned something from this week's glossary, make sure to give it a like & share it with your friends who are building in #Web3
The future is pluggable and composable - the future is Biconomy👇
biconomy.io
If you learned something from this week's glossary, make sure to give it a like & share it with your friends who are building in #Web3
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