Introduction
It’s no wonder that e-commerce is exploding at an unprecedented rate as the globe gets more digitized. From small startups to established businesses, online shopping has become the norm for many consumers.
However, building a successful e-commerce app can be massive, especially since technology is ever-evolving. Selecting the correct technology stack when developing an e-commerce app is one of your most crucial choices.
The technology stack is the primary set of technologies used to build your app, from the front-end framework to the back-end database.
It’s essential to choose the right technology stack for your e-commerce app as it can significantly impact the app’s functionality, scalability, and future maintenance.
With so many options available, choosing the right tech-stack can be daunting.
In this blog post shared by Hire Tech Firms, we’ll provide valuable insights into the,
Factors you should consider when choosing your technology stack
Choosing the right technology stack is crucial. Consider factors like scalability, security, cost, ease of use, and community support to make an informed decision.
1. Consider The Type of E-commerce App You Want To Build
When building an e-commerce app, one of the first considerations is the type of app you want to create. There are various types of e-commerce apps, including B2C (business-to-consumer), B2B (business-to-business), C2C (consumer-to-consumer), and C2B (consumer-to-business) apps.
Each type caters to a particular market segment and requires different features and functionalities. B2C apps, for instance, are designed for retail sales and typically include features like browsing products, making purchases, and managing accounts.
B2B apps, on the other hand, are tailored to facilitate business transactions and may offer features like bulk ordering and invoicing. By considering the type of e-commerce app you want to develop, you can narrow down the necessary features and functionalities and choose the right technology stack for your e-commerce app.
2. Determine The Features And Functionalities You Need
To choose the right technology stack for your e-commerce app, it’s crucial to determine the features and functionalities you need.
This will help you identify the technologies required to efficiently implement those features and functionalities.
Considering that the technology stack you choose will impact your app’s performance and development speed, you should select your preferred framework, programming languages, and platform accordingly.
3. Think About The Scalability and Future Growth Potential of Your App
When choosing the right technology stack for your e-commerce app, it’s important to consider your app’s scalability and future growth potential.
You don’t want to be limited by your chosen technology when your app starts gaining popularity and attracting more users.
To ensure scalability, you must consider factors such as server infrastructure, database architecture, caching mechanisms, and load balancing. You should also consider integrating new features and functionalities into your app.
Your technology stack should be flexible and adaptable to accommodate these changes and growth potential.
4. Assess The Expertise And Skill Level of Your Development Team
When choosing a technology stack for your e-commerce app, one crucial factor is your development team’s expertise and skill level.
Assessing your development team’s expertise is vital because different technology stacks come with varying learning curves and proficiency requirements.
If your team is experienced with a specific technology stack, it may be faster and easier for them to develop an e-commerce app using that stack.
Conversely, if your team is not experienced in a particular technology, they’ll need time to learn it, which can slow down the development process.
5. Evaluate The Security Requirements of Your App And Choose a Stack That Can Meet Them
Security should be a top priority if you’re building an e-commerce app. You must ensure that your user’s sensitive information, such as payment details, is protected from hackers and malicious actors.
When choosing your technology stack, it’s crucial to evaluate the security requirements of your app and pick a stack that can meet them.
Look for a stack with robust authentication mechanisms, encryption, and other security features. By prioritizing security in your technology stack, you can build a high-performing and reliable e-commerce app that your customers can trust.
6. Consider The Cost And Time Constraints of Your Project
Cost and time constraints should be considered when choosing the right technology stack for your e-commerce app.
It’s important to clearly understand the expenses of developing and maintaining your app and the time it will take to complete the project.
Your team should consider the cost of licensing fees, hosting, and support services, as well as the cost of hiring skilled developers.
Time constraints should also be evaluated to ensure the job can be done in a reasonable amount of time without compromising quality.
7. Research and Compare Different Technology Stacks Available for E-commerce App Development
With so many available options, deciding which will best suit your app can be overwhelming. Researching and comparing different technology stacks is the key to making an informed decision.
It enables you to evaluate each stack’s pros and cons and determine which fits your requirements and budget.
The most popular technology stacks for e-commerce app development include MEAN (MongoDB, Express.js, Angular, and Node.js), MERN (MongoDB, Express.js, React, and Node.js), LAMP (Linux, Apache, MySQL, PHP), and Ruby on Rails.
Each technology stack has strengths and weaknesses. Thus it is critical to assess them to make an informed decision thoroughly.
8. Choose a Stack That is Easy To Maintain And Update in The Long Run
You want to choose a stack that is easy to maintain and update so that you can keep up with the latest industry standards and user needs.
A stack that is difficult to maintain can lead to increased development time, higher costs, and more complexity in the overall development process.
To ensure your stack is easy to maintain, you want to choose technologies that have active development communities and offer regular updates and support.
This will ensure that any issues or bugs can be addressed quickly and you can access the latest features and security updates.
Conclusion
In summary, selecting an appropriate technology stack is crucial for the success of any e-commerce app.
You must understand the app’s requirements, development constraints, and the business’s long-term objectives to make the right decision.
You may pick the most suitable technology stack by following the advice in this article that serves your business needs while delivering a fantastic user experience.
Additionally, if you need professional guidance on this you can get in touch with a top ecommerce app development company and they will help you choose the right technology stack and build a robust and scalable ecommerce platform.
Remember, the technology stack you choose will significantly impact your app’s scalability, security, and functionality, so choose wisely.
Introduction
The term “Metaverse” refers to the virtual world where digital characters called “avatars” can move freely and interact with one another in real time. Virtual Reality (VR) is a technology where users access to content from their computer by donning VR goggles.
More and more businesses are establishing an online presence in the Metaverse by opening virtual shops. Companies like Adidas, Burberry, Gucci, Tommy Hilfiger, Nike, Samsung, Louis Vuitton, HSBC, and JP Morgan are included in this category.
Let us dive deep into this article, written by Hire Tech Firms to know how Virtual Stores In Metaverse can transform the future of shopping.
What Are Virtual Stores in Metaverse?
A new kind of digital store called a “virtual store” has emerged to immerse further and engross the customer. Virtual stores, in their most basic form, are immersive, full-page visual experiences on a brand’s e-commerce site and are rendered in three dimensions and a full 360 degrees. Online shoppers can peruse the selection in the same way they would a physical store—using only their computers or mobile devices. In a metaverse ecommerce store, customers can browse products and “pick up” them as they walk around.
Why Do You Need a Virtual Stores in Metaverse?
Virtual stores are about visual, artistic, contextual, and curated online shopping. In place of the traditional grid, the graphic user interface offers consumers a more engaging, discovery-based brand experience online. For any store’s products, regardless of category or collection, custom design is now a reality with the rise of e-commerce. By showcasing products in various settings, customers can better imagine how those products would function in their own lives. Computer-generated imagery (CGI) technology, similar to that used for movie special effects, is applied in real-time in virtual stores.
Many brands see young people under 30 as a valuable demographic to target through online stores. Customers from Generation Z and the Millennial generation expect the same kind of immersive, interactive, and visually stimulating content that they find in video games and social media.
Top Brands With Virtual Stores in Metaverse
1. Microsoft
In 2010, Microsoft spent $70 billion to acquire Activision Blizzard, the parent company of popular video game franchises like World of Warcraft, Call of Duty, Guitar Hero, and Candy Crush. They claimed this action marked the beginning of the Microsoft metaverse.
CEO Satya Nadella revealed more information about Microsoft and the Metaverse’s potential future. Her prediction was that metaverse technology would function in the same way as virtual reality games. Concepts once exclusive to the gaming industry are gradually permeating other spheres, such as commerce and interpersonal relationships, making gaming a lucrative market.
She explained how avatars could be used in a virtual boardroom. While virtual meetings using avatars are novel in the business world, they have been commonplace in the gaming community for quite some time.
Microsoft is still investigating ways to incorporate the Metaverse into its existing offerings. One such effort was Microsoft’s Mesh platform, which facilitated a virtual meeting space with Microsoft Teams.
2. Gucci
In the Metaverse, treasure hunts are a common type of Game, and Gucci has capitalized on this fact. The high-end fashion house has been testing the waters of the metaverse market for some time through several NFT partnerships. Gucci uses a hierarchical access system for exclusive NFT collections, such as the Superplastic collaboration.
The Sandbox is the virtual home of Gucci’s The Vault. The 10KTF Gucci Grail is the next venture for the fashion house, and it uses a treasure hunt mechanic to encourage participants to amass assets. NFT pieces designed by creative director Alessandro Michele and a mysterious Wagmi-san will be among the exclusive prizes at the end of the treasure hunt.
3. Louis Vuitton
The storied French fashion house Louis Vuitton collaborated with digital artists Beeple to release a mobile game in honor of the brand’s 200th anniversary last year. Louis the Game gives players a glimpse into the label’s history as they guide the protagonist, Vivienne, through seven environments based on real-world fashion meccas like London, Paris, and Munich.
The history of the illustrious fashion house was also revealed to players as postcards and other memorabilia popped up randomly during the Game. Players could further personalize their in-game characters with a wide selection of LV prints. Gathering monogram candles allows access to subsequent levels.
4. Snap x New Balance
The collaboration between Snap and New Balance resulted in the release of a lens that utilizes speech recognition and augmented reality to make suggestions for presents ranging from shoes to accessories. Users can experiment with several settings in the Holiday Gifting Concierge Lens. An augmented reality (AR) unboxing showing a suggestion is available in the worldview mode.
5. Samsung
The 837 flagship store of Samsung, a South Korean technology company, is now available in Decentraland. The 837X online shop will feature the company’s newest products and announcements made at CES in Las Vegas. The three main parts are the Customization Stage, the Sustainability Forest, and the Connectivity Theater. Visitors had the chance to win exclusive digital clothing during the first few days of the event. In the future, Samsung intends to open more than 837X stores on platforms besides the Decentraland store, which will only be open for a limited time.
6. Hyundai
In October, Hyundai Motor Company unveiled Mobility Adventure, a virtual world on the gaming platform Roblox that showcases Hyundai Motor’s current and future mobility offerings. Users can interact with one another and experience Hyundai’s mobility solutions in a shared virtual environment where they can also create and personalize their avatars.
Hyundai Mobility Adventure is the first piece of virtual experience content created by a global automotive brand for the popular online Game Roblox, and it’s aimed squarely at the generation of consumers who grew up with computers and video games. Long-term support from customers is fostered by Hyundai Motor’s Mobility Adventure, which introduces visitors to the company’s current and future products and services in the mobility sector.
7. Nike
RTFKT (Artifact) Studios, a prominent NFT-focused digital fashion label, was acquired by Nike in December 2021. Now Nike can tap into a leading digital fashion house and the CloneX avatars optimized for the Metaverse. RTFKT has already released several wearables, including NFTs, designed for use in Decentraland. Plus, they offered NFTs that could be redeemed for actual goods, and some groups were given access to limited-edition sneaker drops. All of this points to the fact that Nike has acquired one of the most powerful fashion brands in the Metaverse.
8. Adidas
Adidas unveiled its 30,000-piece NFT collection, Into The Metaverse, in December 2021. The line was designed with the Bored Ape Yacht Club, the PUNKS comics team at pixel vault, and crypto investor Gmoney. Customers could buy the NFTs and the associated physical clothing, bridging the gap between the digital and the real world.
Items like tracksuits, hoodies, and Gmoney’s signature orange beanie are available in the real world. At the same time, the virtual wearables are primarily designed for use in The Sandbox, a metaverse-like platform. The venture is a part of Adidas Originals, a lifestyle brand that focuses on sportswear, and all digital assets are secured by the cryptocurrency exchange Coinbase.
9. Balenciaga
Brands continue to use Fortnite as a gateway into the Metaverse. Balenciaga, the high-end fashion house, and the gaming industry make waves together in September 2021 when they release their first NFT wearables.
The collection includes various clothes, purses, and other accessories players can purchase and use to outfit their characters. Balenciaga and Fortnite encouraged their customers to create a signature look by promoting a lookbook campaign alongside developing a unique individual style. Participants were encouraged to walk the streets and buildings modeling their Balenciaga clothing for a chance to be featured on one of the many billboards. The highlighted NFT assets are also available for purchase at conventional retailers.
10. Disney
As the undisputed leader in the entertainment industry, Disney could not pass up the chance to further expand its empire by entering the Metaverse. Even more recently, they’ve established a brand-new position whose sole purpose is to shape the company’s narrative trajectory within the Disney metaverse.
Even though they haven’t made any official metaverse plans public, they already use technology and provide striking services similar to a streamlined and interconnected metaverse environment. One example is the MagicBand, a wristband that serves as a tracking device and data repository for a visitor’s entire visit, including admission tickets, hotel keys, payment information, and a photo pass.
Disney also released virtual tours of the parks and rides to keep their customers happy while the parks were closed due to the pandemic. These aren’t the same as what you’d find in the Metaverse, but they give visitors a taste of what they can expect from the digital world in the future.
Experiencing a Storefront vs. Exploring the Metaverse as a Customer
The need to recreate the in-store experience or build something similar in the Metaverse is real. Still, Estes maintains that “the metaverse was designed to create more engaging and enhanced experiences that provide a ‘wow’ factor for users beyond what in-store experiences can deliver.”
Even though the Metaverse is growing in popularity, she noted that stores shouldn’t get too comfortable with it yet.
Regarding customer engagement, “retailers need to also focus on strengthening those experiences,” Estes explains, citing the web, mobile, in-store, and social media examples.
Mason argued that brands shouldn’t try to replicate in-store experiences online because the two are fundamentally different mediums with different capacities for establishing emotional connections with consumers.
“The most important thing to remember is that metaverse experiences are experimental and voluntary,” he emphasized. You can’t expect users to find any value in them unless they’re entertaining and interesting. Indeed, it takes no more than a wave of the hand or a click of the mouse to switch to the metaverse experience of a competing brand. How well a company’s brand will fare in a different medium is an issue that needs careful consideration.
Companies need to plan for how their brand ambassadors will interact with customers. How serious, lighthearted, or cutting-edge will they be? How will their brand be represented visually, and what tone of voice will be used?
Furthermore, Mason suggested businesses ensure the security of their metaverse strategies.
He warned that “with any new medium, there are potential downsides. Brands should be careful that their metaverse experience is properly moderated and that people can feel safe inside that virtual space.
Conclusion
In sum, the Metaverse has the potential to revolutionize the retail sector by letting businesses personalize customers’ shopping experiences, streamline their supply chains, and monitor and react to shoppers’ actions in real time.
The retail sector is likely to feel the increasing effects of these technologies as they mature and gain widespread acceptance. Treedis’ e-commerce and retail solutions and the vrtual stores in Metaverse provide many possibilities for online retailers and brands alike.
There is a growing expectation that the Metaverse will play a significant role in the retail industry beyond 2023, and Treedis is positioned to assist brands in exploiting this emerging opportunity.
Introduction
The MP2 (Møller-Plesset perturbation theory) method is a quantum chemistry method that provides a way to improve upon the accuracy of molecular electronic structure calculations by taking into account electron correlation. It is an iterative method that begins with a wave function calculated using a lower level of theory, such as Hartree-Fock theory, and then uses perturbation theory to include corrections to the wave function to account for electron correlation.
In order to solve MP2 equations, it is necessary to have already performed a calculation using a lower level of theory, such as Hartree-Fock theory, to obtain an initial wave function and set of molecular orbitals. These orbitals are used as a basis to expand the wave function, and the MP2 method involves evaluating integrals over these orbitals to obtain corrections to the wave function.
One of the key equations used in the MP2 method is the energy correction equation, which is used to calculate the energy correction due to electron correlation:
E_corr = 1/4 * Sum_ijab (ij|ab – ib|aj) * (2*(ij|ab) – (ij|ba)) / (e_i + e_j – e_a – e_b)
In this equation, the indices i, j, a, and b refer to the molecular orbitals, and the (ij|ab) term represents the two-electron integral over these orbitals. The energy correction is then added to the energy obtained from the lower level of theory to obtain the final energy for the system.
To implement the MP2 method in a python script, it is necessary to have a way to evaluate the two-electron integrals and to perform the necessary summations over the molecular orbitals. This can be done using a quantum chemistry library, such as PySCF or Psi4, which provide functions for evaluating these integrals and for performing the necessary summations.
Once the energy correction has been calculated, it can be added to the energy obtained from the lower level of theory to obtain the final energy for the system. This energy can then be used to obtain other properties of the system, such as the dipole moment or the atomic charges, using appropriate equations.
Conclusion
In summary, the MP2 method is a useful tool for improving the accuracy of molecular electronic structure calculations by taking into account electron correlation. It involves evaluating integrals over molecular orbitals and performing summations to obtain corrections to the wave function. These calculations can be implemented in a python script using a quantum chemistry library.
Hope this article from Hire tech firms helps you! Happy coding!
Introduction- Create a POS System in Java
Creating a point-of-sale (POS) system from scratch in Java requires a combination of programming skills and a basic understanding of how POS systems work. A POS system is a computerized system that is used to process transactions and manage inventory in a retail or hospitality setting. It typically consists of a computer, a printer, a cash drawer, a barcode scanner, and a customer-facing display.
The first step in creating a POS system in Java is to determine the requirements and goals of the system. This will help to guide the design and development process.
Some common features that may be included in a POS system include:
This includes the ability to add, delete, and modify inventory items, as well as track inventory levels and generate reports.
This includes the ability to process transactions, accept various forms of payment (e.g. cash, credit card), and generate receipts.
This includes the ability to store and retrieve customer information, such as contact details and purchase history.
Once the requirements have been defined, the next step is to design the user interface (UI) of the POS system. This typically involves creating a layout that includes the various input and output elements, such as buttons, text fields, and display screens. It is important to consider the usability of the UI and make it easy for users to navigate and perform common tasks.
The next step is to implement the functionality of the POS system. This will involve writing Java code to handle tasks such as processing transactions, managing inventory, and interacting with hardware components such as the cash drawer and barcode scanner. Depending on the complexity of the system, this may involve writing code to communicate with external databases or servers, as well as implementing security measures to protect against fraud and unauthorized access.
Once the functionality of the POS system has been implemented, it is important to test and debug the system to ensure that it is working correctly. This may involve running unit tests to validate individual components, as well as performing end-to-end testing to ensure that the system is functioning as expected in a real-world scenario.
Finally, it is important to document the POS system thoroughly. This may include creating technical documentation for developers, as well as user manuals and other materials for end users. This will help to ensure that the system is easy to maintain and update over time.
Conclusion
In summary, creating a POS system in Java involves defining the requirements and goals of the system, designing the user interface, implementing the functionality, testing and debugging the system, and documenting the system thoroughly. By following these steps, it is possible to build a powerful and reliable POS system from scratch using Java. Hope this article from Hire Tech Firms helped you! Happy coding!
Introduction
Using React Native for numerous app functionality has been helpful. As a developer, you can easily integrate third-party native libraries in the root directory of the app. React Native app development company rely on the framework to shorten the sidelines and at the same time make the app much lighter. In this tutorial blog, I will show how you can use the third-party React Native package to build the ‘SET WALLPAPER’ button in your React Native app.
Let’s understand what are the prerequisites you need to meet.
Pre-required conditions
- Get the React Native environment in your system- For this you have to download all the software. Sneak peek into the tutorial blog to get a detailed explanation of how to do it.
- You should have the basic idea of creating a React Native app. Since the current blog is an intermediate phase of creating a ‘SET WALLPAPER’ button with which users can change their wallpaper, a basic understanding of the app building process will help you to grasp the learnings. Check this article at Hire tech firms if you want a guided solution.
Third-party React Native plugin
React Native framework has two tools namely React Native CLI and Expo CLI. you can use either of the tools to create apps. If you’re wondering if both the tools can be used to create apps then whether there is any difference between them. Yes, there are a multitude of differences. The most important being the support for third-party in the React Native CLI which is not available in Expo CLI. It makes the former tool much more effective in creating apps. You don’t need to make the app size unnecessarily large. You only need to find whether the features you want to integrate with your app are available in the react Native framework or not. If it does not, you have to install the required third-party packages.
For this project, you need the third-party plugin react-native-set-wallpaper. It helps in setting wallpaper. You need to import WallPaperManager from react-native-set-wallpaper. To install the package, run npm install –save react-native-set-wallpaper on the command prompt. You will also find other dependencies installed in the package.json folder of the app’s root directory. However, they are not used for this project.
Used React Native components
- Text- A React Native component used for adding text elements to the app’s interface. You can use different props under this component. Some of them are accessible, adjustsFontSizeToFit, allowFontScaling, accessibilityActions and oneAccessibilityActions and others. You have to get the component from the ‘react-native’ using the codeline: import {Text} from ‘react-native’. This way, you can use the Text component later in your code.
- View- View component is always used while creating the UI of the app. You can hold other React Native components like Button and Text with <View></View> You can als refer to this component as a container. You can include 0 to numerous child components in a View component.
- Button- Every app needs a press able button which users use to navigate through the app. The best part about the component is that you can customize the component with various props like onPress, color, title and others. Among these props, onPress is specifically a Handler which is called after the user clicks the button.
- StyleSheet- A styling component, StyleSheet can be used differently. Here, in our project, although we have imported the component from the ‘react-native’ package, we have not used it further for styling.
Let’s get into the interpretation of the code syntax
import {Button, StyleSheet, Text, View} from ‘react-native’;
import React from ‘react’;
import WallPaperManager from ‘react-native-set-wallpaper’;
The first lines of coding specify what components are used to build the app. Here, the components are Button, Stylesheet, View, Text, React and WallPaperManager. As you notice that these components are imported from different libraries. This is the ke rues that you, as React Native developer, needs to follow. The component WallPaperManager is not available in the React Native framework. So I have to get it from the third-party native library.
export default function App () {
This syntax exports the App () function using the export default. You can easily import it in other files whenever you need to use this component or function.
const handle = () => {
WallPaperManager.setWallpaper(
{
uri: ‘https://cdn.pixabay.com/photo/2018/01/12/10/19/fantasy-3077928_960_720.jpg’,
},
res => {
console.log(res);
},
);
};
Const is used to introduce a constant variable handle = () => {…}. I used const to make the image source provided under the uri as wallpaper. The WallPaperManager has two arguments namely uri and res. These are the strings which you need to use as arguments. Also, you have to include the console.log () function to print the res on the log. You can add different image sources to get different images as your app wallpaper. However, for this, you need to use the WallPaperManager.setWallpaper() function.
return (
<View>
<Text>Wallpaper</Text>
<Button title=”Set Wallpaper” onPress={handle} />
</View>
);
}
const styles = StyleSheet.create({});
Now the syntax specifies the use of the View component. It holds the Text and Button component. You can see that the Button has a title “SET WALLPAPER” on it. It also has onPress props which will call the constant Handle variable and change the wallpaper of the user.
Let’s get started with starting the emulator
It will require one or two steps and your app will start on the virtual device you have set up at the beginning.
- Open a command prompt on your system and pass npm install. This way, you will get the dependencies required for this project.
- Then pass a command npx react-native run-android on the same terminal. You need to wait for some time until the emulator bundles and starts.
- Your app will show a blue clickable button with a title ‘SET WALLPAPER’. Don’t forget to check the initial wallpaper before clicking the button or else you won’t notice the change.
- After clicking the button, go to the homepage and you will see a changed wallpaper similar to the source image you provided in the codebase.
Conclusion
Now you are done with creating a button with which you can easily change the wallpaper. Happy coding!!!
* Introduction
Web3 is a broad term for an imagined third generation of the internet in which decentralization has led to a more equitable distribution of the internet’s power and benefits. Some large tech firms will no longer be able to control the core features of the web.
Users will have complete control over their information, privacy will be protected, censorship will be nonexistent, and rewards will be distributed fairly in a decentralized system.
The current paradigm places a premium on web centralization, which has been instrumental in the rise of AI. Now, with all this talk about Web3, what exactly is AI’s place in the future of a decentralized society? And how should we go about untangling AI’s centralization tendencies?
Let’s explore this blog and know how Artificial Intelligence in web3 can bring new changes to this technology era.
* What is Web3?
To understand Web3, it makes sense to understand what came before.
- Web 1: The original Internet, or Web 1, debuted in the late 1990s and was made up of a network of linked websites. The websites were not interactive. Reading and publishing content was only possible.
- Web 2: The current iteration of the World Wide Web, or “Web2,” is the one most people are familiar with. In web2, businesses willing to offer their services in exchange for access to your private information have taken over the internet.
- Web3: Web3 is the third generation of the World Wide Web, the decentralized web that promises to connect people and devices worldwide without centralized intermediaries.
The decentralized web is driven by a network of interconnected individuals, unlike the traditional web, which depends on centralized authorities like governments and corporations to provide content and services.
This peer-to-peer network allows for direct interactions between users without intermediaries.
* Prominent Characteristics of Web3
- Decentralization: Web3 would allow information to be stored in multiple locations across a network. This would enable users to have greater control over the vast databases.
- Permissionless and trustless: Web3 is decentralized and based on open-source software, making it possible to share and access information without permission or trust in a centralized authority. Web3 apps that run on blockchains are called dApps.
- Artificial intelligence (AI) and machine learning: Using Semantic Web principles and natural language processing, Web3 will implement AI and machine learning to give computers human-level data comprehension.
Connectivity: Information and content are more connected with web3 and are accessible by multiple applications.
* What is AI?
The term “artificial intelligence” (AI) refers to the process by which computers can mimic human intelligence. Some examples of AI are expert systems, natural language processing (NLP), speech recognition, and computer vision.
The hardware and software used to create and train machine learning algorithms are the foundations upon which artificial intelligence rests. AI systems generally work by ingestion of large amounts of labeled data.
They look for regularities in the information and extrapolate from that to anticipate potential outcomes. A chatbot, for instance, can be taught how to engage in natural-sounding conversation with humans by being exposed to actual textual exchanges between humans.
An image recognition tool can also learn how to recognize objects in images by being exposed to millions of images. AI programming is focused on three cognitive skills: reasoning, learning, and self-correction.
* Distinctive Forms of Artificial Intelligence
1. Weak AI or Narrow AI
- Narrow AI is a type of AI that can perform a dedicated task with intelligence.
- The most common and currently available AI is Narrow AI in Artificial Intelligence.
- Narrow AI cannot perform beyond its field or limitations, as it is only trained for one specific task. Because of this, it is also known as “weak AI.” When stretched too far, narrow AI can fail in unexpected ways.
- Apple Siri is a good example of Narrow AI, but it operates with a limited pre-defined range of functions.
- Narrow AI also includes IBM’s Watson supercomputer because it employs an Expert system approach in addition to Machine learning and natural language processing.
- Playing chess, making product recommendations on an online store, autonomous vehicles, speech recognition, and image recognition are all examples of Narrow AI.
2. Strong AI or General AI
- Strong artificial intelligence allows systems to mimic human performance on various tasks.
- Compared to older systems, these newer ones are more intricate and difficult to understand.
- These programs are designed to operate independently of human input.
- Strong AI can be seen in applications such as driverless cars and surgical suites.
* Layers of Web 3 Intelligence
1. Adaptive Blockchains
Blockchain concentrates on creating computing components for the decentralized functioning of financial transactions. These components, like oracles, consensus mechanisms, node applications, virtual machines, and distributed ledgers, perform a crucial role.
Traditional software infrastructure components, such as data storage and communication, are catching up quickly. The next blockchains’ core and sidechains will include machine learning features. It is possible to design a scalable consensus protocol by using transaction prediction.
2. Smart Protocols
The Web 3 stack, including smart contracts and protocols, will begin incorporating ML features soon. It looks like DeFi is the standard bearer for this movement. The next generation of DeFi AMMs and lending protocols will soon include smarter logic based on ML models.
For example, we can conceive of a lending protocol that employs some smart score to ensure that loans from all kinds of wallets are equally distributed.
3. Superior dApps
Web3 development solutions that allow for the rapid addition of ML-driven features are likely to include decentralized applications (dApps). There is already evidence of this trend in NFTs, which will only increase.
Next-generation NFTs will move from static images to artifacts with intelligent behavior. These NFTs can modify their actions depending on the owner’s emotional state.
* Why Artificial Intelligence in web3?
In web3, we are expanding AI’s abilities to benefit everyone, not just the rich. Each AI model is honed with the creator’s unique experiences, interests, and insights.
In web3, creators fully control their data, AI models, and digital assets.
As a result of AI’s proliferation in web3, a new creator economy is emerging in which communities can finance both the artists they admire and the AIs that improve their daily lives. Creators now have the opportunity to build a sustainable business around their creativity, and the community can benefit from this success.
* Final Words
Future technologies will likely include improvements to ArtificiaI Intelligence in web3. Over the past decade, the rapid advancement of ML technology and research has resulted in an overwhelming amount of ML platforms, frameworks, and APIs that can provide intelligent capabilities to web3 solutions. Already, we are seeing some instances of intelligence in web3 apps. We can say that web3 is brilliant, but this intelligence is not uniformly distributed.
