Web3 is not only a finance revolution, it’s also a business evolution that harnesses powerful ideas such as the Wisdom of Crowds, composability, collaboration, decentralized storage, and headless branding. Prior to web3, these concepts were either impossible to implement or didn’t meet business standards. In this new paradigm, these ideas are multipliers that can launch web2 businesses into an ecosystem that is growing exponentially in every direction.

Kadena is a web3 protocol that has been built with the security and tooling necessary to make any company’s transition to web3 as smooth as possible. Most importantly, it has the scalability to capitalize on all of the opportunities that decentralization offers. It’s a confusing transition to navigate, but we are here to help.

Here are some of the top strategies to help Web2 companies make the most of Web3.

Open-source refers to software that is freely available for anyone to use, modify, and distribute. The primary benefit of open-source technology is that an industry only has to solve a problem once rather than multiple times for each organization. For example, if ten companies have to collectively dedicate 100 hours a week to building and maintaining ten separate software stacks, a shared open-source stack would cut that down to 10 hours, reducing each company’s resource requirements by 90% and freeing them up for more productive uses. In addition, the resulting code should be more innovative, secure, and trustworthy, having been developed in the open by multiple contributors, rather than only a small team or individual.

Web3 takes these principles to a new level by harnessing open-source communities to build global execution environments, business kernels, admin applications, and other components of the decentralized web. All are free to use and are updated constantly by swarms of developers all over the world. By embracing and contributing to this open-source infrastructure, web2 companies can reap its benefits and free up resources to focus on the elements of their business that are truly creating value. By working together, web3 organizations can take giant leaps forward in a condensed amount of time.

Kadena has been open-source since its launch in 2016 and now has over 100 repositories publicly available on Github, including its smart contract language, Pact. Check out some of the amazing community projects that are building on Kadena at kadenaecosystem.com/projects.

Web3 offers plenty of opportunities to build a community around your product or service that will benefit from the ‘wisdom of crowds’. Free messaging and community platforms like Discord and Telegram are used by many web3 organizations (including Kadena) to host community discussions, webinars, and Ask Me Anything (AMA) sessions. These interactions generate plenty of new ideas and organizations often offer perks, digital collectibles, or exclusive access to products and services in exchange for participation.

If enabled to do so, a community can provide valuable feedback on a product and give a sense of whether it is approaching product-market fit. As they begin to feel less like customers and more like co-creators, the results can be transformative and lead to new opportunities for product development and marketing. Dive into the Kadena community here to see how it’s done!

Decentralized applications (dApp) are software programs like any other so can range from simple ‘smart contracts’ that automate business processes such as payroll or supply chain management, all the way up to full-stack applications with accounts, permissions, and complex logic. Going all-in on web3 means building a (dApp) directly on Kadena itself. Doing this leverages the security, immutability and permissionlessness of the blockchain, while still allowing a familiar web2 user experience on the front end.

Kadena.js offers new tools, resources, tutorials and a learning platform to assist web2 developers and companies build dApps with a seamless onboarding experience.

Oracles are third-party services that convert off-chain data into a format that can be read by smart contracts and decentralized applications. Companies are often sitting on rich data sources that could provide a valuable income stream if made available to web3 applications. In combination with smart contracts, businesses can use decentralized oracles to trigger payments or other on-chain operations based on external data sources. For example, an online grocery could automate orders and payments for fruits and vegetables depending on the weather, yields and price data. The more data is available on-chain, the more use-cases like this will become possible.

There will be some very exciting news announced soon with respect to our second cohort of Kadena Eco grantees — everything from mining to dApps to Oracles. Stay tuned!

Web3 is much like the internet in the late 90s: new and strange, but growing at a furious pace and destined to change the world in ways that are impossible to predict. This is why the best strategy for web2 companies is sometimes to just dive in and explore and you will be streets ahead of the competition and ready to capitalize on the opportunities when web3 goes mainstream.

Kadena’s complete decentralized infrastructure makes it possible to elevate your Web2 business to the next level via Kadena’s revolutionary blockchain, funding, comprehensive technical resources, and more! Join the community and see how we can help you build the future at kadena.io.