How ThunderCore can help Web2 Developers evolve into Web3

Right now, as crypto prepares to go into another bear market, many are looking at the period of reduced speculative activity as one for imagining and constructing the next stage of Web3. Even with all of the talent that’s come flooding into the space in the last few years — and it really has been attracting quite a lot of talent — there is still a group of holdouts that we hope to see enter soon. And that would be the Web2 developers, a community that we are trying to welcome into ThunderCore.

For programmers accustomed to the old internet, jumping into the deep end of Web3 can feel intimidating, like learning to swim all over again. That’s why we’ve been hard at work on the ThunderGene API tool, which we are rolling out to developers in the hopes that we might entice some more of them to give Web3 a try. We’ve made it as painless as possible, and while we can’t develop your apps for you, we can certainly do a good portion of the legwork to bring them into the blockchain reality.

What are the advantages of getting into Web3 for a Web2 company?

For Web2 companies looking to make the jump into Web3, opportunities abound. Currently, the number of daily active users for even the most popular DApps is many times less than what the leading Web2 companies pull into their centralized internet platforms. It’s not hard to see how if a business with name-brand recognition gets in the game, they will be able to throw some serious weight around.

Despite the bear market, the trendlines are clear. From 2020 to 2021, global blockchain funding surged 713% year-on-year to reach $25.2B. Demand has also been increasing from both consumers and institutions, with Google setting up a new blockchain division and Morgan Stanley and Goldman Sachs both starting dedicated crypto units.

And then there are the advantages that flow from Web3’s unique ability to offer monetary incentives. Under the old framework, users might be a fan of your brand, but they would rarely stand to profit from its success unless they owned some of the stock. Nowadays, companies getting their start on the blockchain can raise funding through tokenizations. In turn, holding these tokens makes the user into a kind of brand ambassador for the company — with a stake in the outcome. Whereas in the past the user may have only gotten some small discounts by way of referring friends and family, now they have a much stronger incentive to actually promote the business.

On top of this, there is also the technology of non-fungible tokens (NFTs), which allow developers to have users trade collectibles in a system that furthers engagement. Meanwhile, airdropping them as rewards is possible too. Truly, the advantages to at least dipping a toe into Web3 — or even Web2.5, as I have argued elsewhere — outweigh the disadvantages.

Companies entering Web3 face barriers to entry

Getting into Web3 is a goal very much worth pursuing for many companies, but at the same, the road is not easygoing, not least because it can be so hard to train and retain developers in this high-demand sector. Even after the team is assembled, it can be hard to bring a product to launch, with many hurdles still to be faced.

Perhaps the most obvious challenge is getting users to fork over their hard-earned money for gas fees, which has become a dominant factor on blockchains such as Ethereum. On ThunderCore, we manage to keep gas fees extremely low (a fraction of a cent) while also prioritizing speed, security, and scalability.

Many Web3 activities also require some degree of prior experience on the part of the user when it comes to the various sectors in the space, such as decentralized finance (DeFi), NFTs, and GameFi, among others. Often it will be necessary for users of one DApp to already have accounts set up with a number of other DApps in order to get the most out of any of them.

And this brings me to what might be the most difficult challenge of all — handling complicated know-your-customer (KYC) requirements to onboard users into a DApp while maintaining regulatory compliance. It can be a lot to ask users to go through this KYC process again and again, and for developers, the heightened cybersecurity features required to custody funds in a crypto wallet can be an overwhelming burden.

The ThunderGene API tool makes Web3 easier

As an EVM-compatible public blockchain with lots of cross-chain interoperability, it was only natural that we would get around to smoothing the road for the developers who will need to cross over from Web2. That’s why we’ve developed the ThunderGene API tool — so that this core group of talents will be able to flourish in our blockchain ecosystem.

With ThunderGene, we’ve set up some key features that take the hassle out of developers’ hands.

Generate unique wallet addresses for your users

As I’ve mentioned, the logjam when developing DApps can often come down to taking on the extra weight of handling KYC. With ThunderGene, we allow developers to generate wallets for their users that link right into TT Wallet, the trusted wallet of our ecosystem. Using this method, we remove the need for developers to waste time trying to build a first-class safe for users’ funds.

Create tokens to monetize your project

We decided long ago that TT, our native token, would not be the only token on our blockchain. In fact, we’ve made it so easy for developers to mint their own tokens on ThunderCore that at present, we have over 2,477 of them. It’s by helping our developers to monetize their projects that we hope to provide the incentive for them to call our blockchain home.

Create and mint NFTs to serve as collectibles

It’s well known that NFTs are very popular with crypto users, and they are poised to become an even more important part of the blockchain world as sectors such as GameFi, which requires them as a cornerstone for many projects, expand. For this reason, we have made the process very simple for developers to integrate NFT issuance into their DApps.

Swap and export tokens or NFTs in-app with ease

ThunderCore is a fully developed blockchain community, and that means that we play host to a range of DApps, including decentralized exchanges (DEXs). Through integration with our DEXs, we make it simple for developers to have their users swap tokens and NFTs in and out of their app and even to different blockchains — and all while remaining in the same program.

Final Thoughts

As we cruise into the second half of the year, we will continue to roll out ThunderGene in phases. It’s an exciting time, and we consider ourselves lucky that you’re here to join us for it.

If you’d like to take a sneak peek at ThunderGene, please head over to our testnet, where it is available to you. For other inquiries related to ThunderGene, please reach out to us at this email address: thundergene@thundercore.com.

Thank you for your time, and remember to keep checking in with us for new updates!