My own NFT marketplace
My own NFT marketplace

My own NFT marketplace

Created
Dec 12, 2021 07:14 PM
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We all heard of the third web, known as the future network solution. As I am writing this, in December 2021, NFTs and crypto-currencies are getting well known. It came to me to form myself on my possible future job starting with a course of Clever Programmer.

How does it work?

First of all, I had to understand the blockchain. I looked for many explanations from users such as Fireship's video or Amixem's video much earlier and asked on discords.

Briefly

The blockchain is a decentralized database, without intermediaries, using the resources of its users as computing power to operate tasks.
As an example, the Blockchain Wallet, equivalent to your bank, creates a seed phrase used to identify your account and private keys to identify your transactions with the system of asymmetric cryptography.
What's a seed phrase?
A seed phrase is a unique password used to identify a user. It is, as it is called, composed of simple words in sequence.
e.g. appear iron portion escape fragile escape true eager client wrap lonely pet
In addition, some wallets offer the possibility to add a mnemonic passphrase, a pin, or a password but it is not the same as a seed phrase, see it as a two-authenticator solution.
In today's system, sending money depends on a bank. You have no other choice to trust it; your money is theirs.
Instead, blockchain uses a principle of solidarity and anonymity with its decentralization. It creates a block and sends it to every miner of the network to verify it before adding it to the blockchain. This process is called minting from which miners derive crypto-currencies.
Who are the miners?
Miners represent someone allocating his devices' power to the blockchain in exchange for crypto-currency. It is available to anyone but is sometimes not worth it depending on the crypto-currency.

Minting risks

Looking to the blockchain, in general, seems a good solution to the web, but looking deeply it has features that could result in worldwide issues.
As mentioned earlier, there are no intermediaries, meaning data is so non-reversible.
You might be able, so, to mint data leaking confidential information, and nobody could delete it from the blockchain even the government...
For now, blockchain can't handle images itself, but some networks are looking into it.

Wallets

How much heat would you like?
Back to Blockchain Wallets, used a lot as an authentication system, it exists different types of blockchain wallets that can be installed on any device each having its cons & pros.
  • Heat wallets
  • Cold wallets
Heat wallets, the opposite of cold wallets, are wallets directly connected to the internet. In the opinion of certain users, it is what Web 3.0 makes vulnerable: Your private key, on a heat wallet, can be known by the company and sometimes not given to you. They are a kind of today's bank in crypto-currency, sometimes called crypto-bank. However, Heat wallets have their utility, such as for day-to-day transactions.

Non-fungible tokens

To start building the project, I also had to understand NFTs, the main subject of it.
I heard about NFTs from my brother, with whom I tried to make ones a year ago before it got famous.
NFTs, standing for non-fungible tokens, are assets with unique identification codes and metadata that cannot be traded at equivalency. In our cases, they are digital art pieces in Image, 3D model, or any other form... Buying an NFT also gives you a token proving its ownership with its metadata.
Marketplaces have so been created, such as Opensea or Rarible in the most famous, where users sell or buy the property of NFTs in a crypto-currency.

Entrance in the third web

Because the Clever Programmer tutorial didn't go deep into the development of a marketplace, I designed my own Figma model first.
Then, to easily build the web3 based app, I used thirdweb API and NextJS framework. It’s a personal choice, I like the combination of server & client side on NextJS and the ease of use of thirdweb.
I also profit from this project to learn TailwindCSS by realizing the explorer and view page with it as I need it for my next Internship starting on Feb 1, 2022.
I could also start the back-end with the Sign-In system.
notion image
notion image
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