Blockchain technology plays a crucial role in Web3 development by enabling decentralization, transparency, and security through distributed and immutable ledgers. Here are some ways in which blockchain technology is used in Web3 development:
- Decentralized applications (DApps) run on smart contracts, which are self-executing programs that run on a blockchain network.
- Blockchain technology provides a distributed way to disseminate data and connections between nodes, eliminating the need for centralized servers.
- Blockchain-based technologies, such as cryptocurrencies, NFTs, and dApps, are the basic infrastructure for Web3's decentralized data model.
- Blockchain employs an immutable ledger of transactions and activity, which helps to verify authenticity and build trust among blockchain participants.
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