Web3 World configurability analysis

What is configurability?

Configurability is the general ability to reassemble a process into larger models and use one output as another input. Simply put, the best example is Lego, and part of Lego can be linked to other sites.

In cryptography, composability is the ability of distributed applications (dApps) and DAOs to replicate and integrate well with each other (syntax composability) and to make software components such as tokens and language interoperable. (configurability).

Syntax configurability

Ethereum achieves excellent syntactic composability. All smart contracts in the process are public and can be called by others. This means that all software logic is created once and can be reused in the ecosystem. In practice, this means that an Ethereum dApp can use a Uniswap contract to manage a token exchange, or organizations can use Aragon customer contracts for managing the iron chain.

The ability to reuse open source resources is a major force that makes it useful in Web3. Teams can use many of their existing trusts and can focus on creating content that is lost in their project. This exponentially increases the speed of experimentation and innovation. You don't have to redo the wheel every time you start a business (or worry about lawsuits from regulators and patent trolls). So Web3 is more efficient than Web2 in terms of resource allocation. Also summons the magic of synthesis.

atomic composition

It is important to note that Ethereum Layer 1 (L1) allows “atomic” composability. From there, you can load multiple operations on multiple dApps in a single exchange and perform them together. If any of the operations fail, not all of the changes work. This allows you to spread trades across multiple exchanges or to vote on multiple DAO requests at once without the risk of failure.

Atomic composability is the key to decentralized finance (DeFi) as it enables innovations such as 'flash lending', which means borrowing, investing and repaying assets in a single company. .

form composition

While Ethereum aims to improve integration, there is no guarantee that dApp's internal data, such as features and interfaces, will automatically be compatible with each other. It requires participation. To this end, many application-level models have reached contents such as tokens, signatures, and wallets, known as Ethereum Request for Comments (ERC). The most famous of these is the ERC20, which defines the characteristics of Ethereum's fungible token.

From a Web2 perspective, the impact of the merger is gratifying: DAO token holders can vote for snapshots and use Zodiac Reality to trade their DAO vaults to get MakerDAO loans. Enter $ DAI on Curve by $ DAI, then deposit the LP tokens on Convex to get the exchange rates and the $ CRV and $ CVX tokens. This combination can be achieved through a combination of devices and the definition of tokens.

Configurabilité Web3

Instant Vote → Zodiac Reality → Borrow $ DAI @ MakerDAO → Pool $ DAI @ Curve → Deposit Curve LP Token @ Convex → Receive $ CRV $ CRX Exchange Rate

Besides money, symbols or treasures in Web3 games such as Axie Infinity or Guild of Guardians are examples of Non-Fungible Token (NFT) digital assets in ERC721. Because they are actually owned by the user, they can trade different games for free, sell in the secondary market, and use it as a trading tool for loans.

Improving Web2 integration means persuading Nintendo to share data with Sony and Microsoft in one way or another, and letting eTrade deliver on the Robinhood promise. The probability of this happening is zero. Although not all Web2 companies compete with each other, they cannot reuse software with each other because it is created by different devices.

In addition to digital tools, Web3 allows users to change their identity and reputation on dApps. By changing the access location with a username and password, users use the Web3 wallet to provide read-only access to ERC20 addresses that function as unique characters and reputations. . Resume "Resume" with token exchange history, dApp interaction and DAO members receive a "Degene (erate) score" as well as Web3 measurement knowledge, but this is included in the Web3 form request form by understanding candidates. In this way, personality and reputation can be seen as the benefits supported by Web3 activities. Like other perks, the chain symbols can not only be traded and traded, but can also be part of digital communities, teams, and abstract discussions that will create a new kind of 'state'. . "

DAO morphology

Currently, there is no ERC design, implementation and implementation of DAO, but the industry has moved in this direction. DAOstar One is a round table assembly to develop content and minimum DAO. The team is now focused on experimentation and therefore not limited to new developments. However, once completed, the ERC will bring the Lego design to the DAO ecosystem. This means that Aragon's financial dApp can be used with Moloch v2 or Openzeppelin contract management.

Even before the ERC was approved, Gnosis developed a modular CAD device based on the Zodiac aperture model. Each DAO platform that uses the Iavatar interface will have access to an increasing number of Zodiac compatible devices, such as an oracle module that can be used to complete the chain, or a bridge module that supports transport through the chain. by Gnosis Safe.

Other options, such as DAOhaus's Boost Foundry (which prevailed over Moloch v2), are part of the development of DAO's dAppstores, with additional DAO features such as the use of DeFi protocol plugins and Superfluid automatic payment flows or the use of Mintgate. of gated .. function.

In addition to these examples, Web3 software can be open source and have branches, but this in itself does not guarantee compatibility with other functions. However, market incentives and expectations are expected to follow the sharing process as soon as possible, as prices fluctuate less for consumers and the benefits of high collaboration.

The final details need to be worked out. The company Web2 is famous for having set up "moats" to stand out from the competition. This can be done through good regulation, strict patent management, high conversion rates, record keeping and many other personal protections. However, this strategy makes it useless in the open, unauthorized and transparent Web3 world. Instead, organizations should be formed on the premise that their rights will be taken over by others and make them a leader in their development. Configurability translates Web2's tail into dangerous Web3 concepts and goals. In this context, organizations must become experts in collaboration and collaboration. This is why strategies like DAOstar One and DAO World Hackathon attracted many participants to look for a mix of DAO.

DAO tool

The Web2 standard allows businesses to use stand-alone software for advertising and graphic design. DAOs like them use software development software like Discord to manage their communities. The Web3 infrastructure also allows these tools to be integrated enough to serve as CAD management products that can streamline and complement operations. This is accomplished by an external network called oracles which can access external data and place it in smart contracts on a chain. It was already possible to use Witnet's integrated network to complete Aragon by Discord's emoji voting chain and as mentioned before, Gnosis Zodiac's Reality module integrates Reality.eth into the oracle to create a secure business. Information, voting inconsistencies or other similar material. For a more in-depth understanding of CAD tools, check out CAD Designs and Incentive Tools and Lego Brick Theorem: The Status of CAD Tools.

Mixing real data in smart contracts opens up a mixed data world in Web3. Although they are not included in this article, they are discussed in our Oracle with API3 and 77 smart contracts supported by Chainlink.

Web3 language

Monolithic architecture makes sense in many places. Transnational political models seem to disappear over time, the success of the internet is due to the many lines of communication going through the same process, and the human brain is also a transitional change.

At the same time, design calculations have turned into the development of microservices that can be assembled, modified, and transformed as needed in a cluster. Web2 was developed by these backends, but the design was not considered by the Web2 company itself. Big monopolies like Amazon, Facebook and Google have had little incentive to get into microservices. But in the end, it will be forced on them by Web3. If you believe in the proofs of technology and status, then the reason for the potential is fate.

There are some obstacles in the way before reaching this destiny

The first is a Web2 concept. Adopting an idea that reduces personal importance to a party requires decision making and voting from members. However, there are indications that the composability of Web3 is attractive to sell its advantages to many technology industries. Of course, we have seen this in the adoption and measurement of various policies such as assets under management (AUM). Web2 does not want to abandon this development for long. To participate, it must be configurable.

The second obstacle is the scale. The synthetic possibilities are theoretically good, but the recent high prices seen by Ethereum are deadly for the hard work that many dApps go through. The bridge between Ethereum and the new chains destroys atomic composability, and the development of new chains will increase security and capital until the industry finds solutions. This is a topic that needs to be discussed in depth and will be discussed later in the next article.

Syntax and form are not accidental meanings intended for speech. This applies here because the software is a language and Web3 (information software) is integrated into the language. Grammar The next test is semantics: are the instructions understandable? Most importantly, Linguistics: is it useful in terms? There is no doubt that tokens can be used in the midst of modern dApps without any real utility or purpose. Likewise, many combinations have been reported in terms of financial or nonprofit relationships, especially when considering the expansion of Ethereum. But it's the first word in a new language that's more interesting than we've ever seen, and with the magic of mixing, Web3 will find its place.