Definition of Web3.0 protocols

What is a WEB 3 Protocol?

WEB 3.0 Protocol can be understood in various ways; today we will explain to you about protocols and how they work in practice.

You can understand a protocol as the infrastructure of a project and/or platform.

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For example, the Ethereum infrastructure that provides NFTs is based on the ERC-721 protocol. This protocol defines a set of rules for creating non-fungible tokens (NFTs) on the Ethereum network.

These tokens are unique and cannot be exchanged for other tokens as they possess attributes that make them different from one another. ERC-721 allows developers to create decentralized applications (dApps) that use NFTs, such as games, digital art platforms, and collectibles.

Furthermore, the protocol is compatible with other Ethereum infrastructures, such as the ERC-20 protocol, which allows the creation of fungible tokens on the network.

In general, this is a type of protocol in Web3.0.

By Sonica W3 Learning Center

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