Technology

1. What blockchain technology does We3bHub support?

Web3Hub provides a wide range of technology including the private blockchains (Hyperledger Fabric, Quorum, Besu, Corda) and public blockchains (Bitcoin, Ethereum, BNB Chan, Polygon, Solana, Sui …). With more than 5 years of experience in blockchain technology, Web3Hub team can build any applications regardless of the complexity. Applications can be network development/customization, crypto wallet, Dapp (Fan token, Real estate, Traceability …), On-chain monitor, NFT marketplace, and many more.

2. What is smart contract and Dapp?

A smart contract is a self-executing contract with the terms of the agreement directly written into code. These contracts are stored on a blockchain, which ensures transparency, traceability, and immutability. Smart contracts facilitate, verify, and enforce the negotiation or performance of a contract without the need for intermediaries, making transactions more efficient and secure.

A DApp, or Decentralized Application, is an application that runs on a decentralized network, such as a blockchain. DApps are built on top of smart contracts and use the underlying blockchain technology to achieve decentralization, security, and transparency. In a DApp, the back-end code runs on a decentralized peer-to-peer network, making it resistant to censorship, fraud, and single points of failure.

Here's a brief comparison of the two concepts:

• Smart contract: A piece of code that defines the terms and conditions of a contract, stored and executed on a blockchain.

• DApp: An application that utilizes smart contracts and runs on a decentralized network, providing benefits like security, transparency, and censorship resistance.

3. What’s the difference between private and public blockchain?

Features	Private blockchain	Public blockchain
Access	Restricts access to a select group of participants, often by invitation or through a permissioned process. Only authorized users can read, write, or validate transactions on the network. Private blockchains are commonly used by organizations or consortia that need to maintain control over the network's access and functionality. Examples include Hyperledger Fabric and R3 Corda.	open to anyone who wishes to participate. Anyone can join the network, validate transactions, and contribute to the consensus process. There are no restrictions on who can read, write, or mine new blocks. Examples of public blockchains include Bitcoin and Ethereum.
Consensus	Use different consensus mechanisms, often tailored to the specific needs of the network. These mechanisms can be more efficient and less resource-intensive than those used in public blockchains, as they rely on a smaller, trusted group of participants. Some examples include Practical Byzantine Fault Tolerance (PBFT) and Raft.	Typically use consensus algorithms like Proof of Work (PoW) or Proof of Stake (PoS) to maintain network security and ensure that all participants follow the consensus rules. These mechanisms require participants to prove their commitment to the network, either by expending computational resources (PoW) or by staking their tokens (PoS).
Objective	Focus on providing a secure, efficient, and controlled digital infrastructure for specific use cases, such as supply chain management, interbank transactions, or secure data sharing among consortium members.	Aim to create a decentralized, trustless, and censorship-resistant digital infrastructure that enables secure and transparent transactions between parties without requiring intermediaries.

In summary:

• Private blockchain: Restricted, controlled networks with limited access, tailored consensus mechanisms, and specific use cases that prioritize efficiency and security within a trusted group of participants.

• Public blockchain: Open, decentralized, and trustless networks with unrestricted access and resource-intensive consensus mechanisms like PoW or PoS.

4. What is the layer-1 and layer-2 blockchain?

Layer-1 and Layer-2 are terms used to describe different levels of blockchain technology, particularly in the context of scalability and performance improvements.

• Layer-1: The base blockchain protocol, responsible for consensus, transaction processing, and native token management.

• Layer-2: Solutions built on top of Layer-1 blockchains to improve performance, scalability, and efficiency, often through off-chain processing or other techniques.

By leveraging Layer-2 solutions, blockchain networks can address some of their inherent limitations, such as slow transaction speeds and high fees, without compromising the decentralization and security offered by the Layer-1 protocol.

5. What is EVM-based blockchain?

An EVM-based blockchain is a blockchain network that uses the Ethereum Virtual Machine (EVM) as its core runtime environment for executing smart contracts. The EVM is a Turing-complete, sandboxed virtual machine that allows developers to create, deploy, and execute smart contracts using a high-level programming language like Solidity.

Examples of EVM-based blockchains include Ethereum Classic, Binance Smart Chain, and Polygon (previously known as Matic Network). By using the EVM as their foundation, these blockchains can tap into the existing Ethereum ecosystem and offer developers a familiar environment for building and deploying smart contracts and DApps.

6. What is Rust-based blockchain?

A Rust-based blockchain is a blockchain network that is built using the Rust programming language. Rust is a systems programming language that focuses on safety, performance, and concurrency. It has gained popularity in recent years due to its strong guarantees of memory safety and minimal runtime overhead, which make it a suitable choice for high-performance and secure applications, including blockchain systems.

Examples of Rust-based blockchains include: Solana, Polkadot, Near Protocol.

7. What is Move-based blockchain?

A Move-based blockchain is a blockchain network that uses the Move programming language for implementing and executing smart contracts. The Move language was developed by Diem (formerly Libra) and inherited by many blockchain projects including Aptos and Sui

Move is designed with safety and programmability in mind, making it well-suited for creating and managing digital assets, particularly in a financial context. Some key features of the Move language include: Resource-oriented, Safety guarantees, Modular and Flexible.

8. Can I issue ERC-20 token on Hyperledger Fabric?

No, you cannot directly issue ERC-20 tokens on Hyperledger Fabric, as ERC-20 is a token standard specific to the Ethereum blockchain. Hyperledger Fabric is a separate, permissioned blockchain platform that does not use Ethereum's EVM (Ethereum Virtual Machine) or support the ERC-20 standard out-of-the-box.

However, you can create a similar token on Hyperledger Fabric by implementing custom chaincode (smart contracts) that define the token's behavior and functionality. Hyperledger Fabric uses chaincode written in languages like Go, JavaScript, or Java to define the logic and rules for assets and transactions. To create a token on Hyperledger Fabric, you would need to:

• Write chaincode that defines the token's properties, such as its name, symbol, and total supply, and implements the desired functionality (e.g., transferring tokens between accounts, minting new tokens, or burning tokens).

• Deploy the chaincode to the Hyperledger Fabric network, ensuring that the appropriate endorsing peers have installed and instantiated the chaincode.

• Use the Fabric SDK or CLI to interact with the chaincode and perform operations like querying the token balance of an account or transferring tokens between accounts.

While it is possible to create a token with similar functionality to an ERC-20 token on Hyperledger Fabric, it's essential to note that the underlying technologies, consensus mechanisms, and access controls are different between the two platforms, which may influence your choice depending on the specific use case and requirements.

10. We want to build our own blockchain network, can Web3Hub help?

Certainly, Web3Hub can assist you in building your own blockchain network. However, before proceeding, we would require more information about your specific goals and objectives. Creating a custom blockchain can be both time-consuming and expensive. You have the option to either modify an existing network to suit your needs or develop an entirely new network tailored to your requirements. In addition to the core network, it is important to consider developing a complete ecosystem, including a blockchain explorer, wallet, libraries, SDKs, and other essential components.