People who are concerned about the blockchain industry have more or less heard of the term Web 3.0, which aims to solve the various problems that exist in the current Web 2.0 Internet world.
Although the Internet in Web 2.0 links everyone together, the speed of information circulation and the amount of information have increased exponentially. Everyone can obtain information and enjoy various services brought by the Internet. It seems fair, but in fact, the Internet Management is very complicated.
Platforms and operators have the right to manage and monitor what happens on their respective sites. For example, Twitter can arbitrarily block the account of the former president of the United States. For example, Ctrip can use big data based on user behavior to obtain commercial benefits.
Since the development of Web 2.0, user data has become the most important asset of every company, and the owner of this asset, the user himself, has no choice. Web3.0 leads the future trend of the Internet, which will develop with the needs and use of users, and ultimately attribute all rights and interests to users.
A more free and open world
So, how does Web 3.0 solve these problems? Let’s first look at the development of Web 1.0 and Web 2.0.
The Web 1.0 era was the early Internet. At this time, desktop computers were born, website operators edited and released information, and most users passively input information.
With the birth of the mobile Internet on the mobile phone, Web 2.0 allows users to interact with the platform in a large amount. At the same time, the birth of WeChat, Weibo, and Douyin allows users to upload and publish content by themselves, so that the amount of information on the Internet can be obtained. Unprecedented growth.
However, both Web 1.0 and Web 2.0 rely heavily on specific “information intermediaries”, which can be application-level platforms, such as Twitter and Facebook, or centralized servers, such as Alibaba Cloud, AWS, etc. And it is this characteristic that has led to the various negative phenomena we mentioned at the beginning.
However, Web3.0 has the characteristics of trustlessness, decentralization, and anti-censorship. Users have their own data and privacy. In order to realize Web 3.0, it requires the blessing of various technologies, including blockchain, artificial intelligence, and the Internet of Things. Among them, the blockchain technology is particularly compatible with the vision of Web 3.0. This is also known as the “blockchain”. One of the reasons for the “Internet of Value”.
Blockchain technology, including smart contracts, is the cornerstone. Code is law and code is regulation. All rules are written into the agreement, and once opened, they cannot be tampered with. The code is open source, open and transparent, and accepts everyone’s inspection. At the same time, the distributed collaborative consensus of blockchain nodes minimizes the need for trust. No need to trust, just verify the code.
And because various blockchain protocols are like Lego blocks, developers can call them at will and combine them into a magic castle, which is a decentralized application DApp, which collides with various sparks. And all this will bring us a completely different world from Web 2.0.
In addition, because in Web 2.0, data is stored in one or designated centralized server, as long as hackers attack the target server, a large amount of user data can be obtained, such as the account password of a certain platform, and even credit card information. If you have ever registered a Google account, you might as well log in and take a look. Google will tell you which of your passwords have been leaked.
When coming to the world of Web 3.0, user data can be stored in a decentralized database, and there is no need to rent a specific server. Therefore, each data authorization requires your consent, and due to the distributed recording method, there is no data leakage problem after a single point of breach, which better protects user privacy.
When users publish information, they will no longer receive “one-word” censorship from the platform, which truly realizes freedom of speech. In this round of bull market, the market has also sensed the potential of this track, and the price of fil has therefore risen.
With the development of Web 2.0, I believe that everyone is bombarded by advertisements when they usually surf the Internet. Although everyone has access to free Internet services, the price is that our basic information and behavioral data are owned by the giants. The giants use this as a selling point and charge advertisers.
The competition for users between the major Internet platforms is always endless. In the Web 2.0 era, users are the biggest assets of Internet giants. The giants can obtain benefits from users who pay for content and actively contribute to the platform, but do not pay users any fees. Without the user’s consent.
Web 3.0 can return the data and the benefits brought by the data to the individual. The private key is in the hands of the user, that is, you have the right to use your data in your own hands. You can choose to protect it or it will be used, or you can Choose to sell it for profit.
Real freedom is not to do what you want, but not to do what you don’t want. While Web 2.0 has brought us unlimited possibilities, it has not given us data freedom. And Web 3.0 greatly enhances the freedom of users.
Everyone will benefit from the Web 3.0 token economy
Blockchain is inseparable from the token economy, and this will also become an important part of the Web 3.0 world. Imagine if you participated in a certain Web 3.0 public chain project in the early stage and invested in its Token with governance rights, then you have the right to vote on the various plans of the project and express your own opinions. Just like the shareholders of a traditional company’s board of directors, they have the right to intervene in the company’s decisions.
In addition to the increased power of ordinary users, every user can obtain tangible benefits. If there are any ecological applications that require some transactions, then the Token will be used as a handling fee to be paid to the major nodes.
If it is proof of rights and interests of PoS or other mechanisms derived from it, then any user who pledges Token for staking not only participates in the glorious real name of maintaining network security, but also makes the network more decentralized and more robust, and users themselves will also benefit from it. To the dividend from the node.
What’s more worth mentioning is that if it involves any request to sell user data, as long as the user agrees, then the user can benefit from it. Giants use massive user data to collect advertising revenue and pollute user experience, and there will be no more. And users also have a way to “make extra money”.
The gameplay of the Web 3.0 token economy is certainly not limited to the above, and all of this must be in the long run, which will inevitably increase the value of the tokens in the ecology, and everything will form a virtuous circle.
It can be seen that the token economy will greatly enhance the network effect of the Web 3.0 ecology, and the value of each user participating in Web 3.0 will be much higher than that of Web 2.0, and this value is not only given to the ecological tokens, but also to Every participant.
Introduction to Major Track Projects of Web 3.0
So apart from waiting for the arrival of Web 3.0 and enjoying smarter, safer, and transparent Internet services, what other ways do ordinary people have to participate in this dividend? Perhaps participating in the early Web 3.0 projects is also an option, especially the head project. Here are some project introductions. (Non-investment advice)
Public chain sector-Polkadot (DOT): As soon as it goes online, it will drop the top ten market capitalization of Polkadot, which solves the cross-chain problem of various public chains in the era of blockchain 2.0 smart contract. Polkadot can not only realize cross-chain assets, It can also cross-chain information to create a Web 3.0 infrastructure. Only when Wanchain is interconnected, all Web 3.0 applications can run on the unimpeded information highway, and the user’s switching cost and user experience can reach the extreme.
Storage sector-Filecoin (FIL): In this year’s bull market, FIL’s performance can be described as eye-catching, rising ten times from the bottom of the beginning of the year. The big project that has been brewing for many years since 15 years is a blockbuster when it goes online, and the story it tells is also an indispensable module of Web 3.0-storage.
When it comes to Filecoin, you have to mention the IPFS protocol. The IPFS protocol is also a point-to-point transmission protocol, similar to the BT download network in the classical Internet era, and the target is the HTTP protocol that we are familiar with. And Filecoin is an incentive layer running on ipfs, with a huge distributed storage space, through mining, incentivize more nodes to participate, and convert cloud storage into an algorithm market.
Browser section-Brave (BAT): Brave can be said to be one of the few projects in the industry that has a large number of real users inside and outside the circle. In 2020, it will have 25.4 million monthly active users. Its biggest feature is its ad blocking function. Users use the Brave browser to surf the Internet without being bothered by ads.
If a business wants to advertise on the Brave browser, they have to pay the browser user, and the user can also choose whether to watch the advertisement and earn tokens according to their own wishes. At the same time, Brave focuses on user privacy and rejects all attempts to track users’ personal data.
Domain name section-Handshake (HNS): The airdrop on Github last year made Handshake, a decentralized domain name project, a hit. The traditional domain name resolution system is called DNS, but it is very centralized, that is, transactions and leases have to ask certain major domain name providers.
Ordinary users cannot really own their own domain names, and due to the maintenance of centralized institutions, it is easy to cause a series of network failures. With Handshake, users can use HNS to pay for registration fees and obtain an encryption key as a proof of domain name ownership. All domain name transactions through HNS will be recorded on the public chain.
The vision of Web 3.0 seems very beautiful, but there are still some problems at present, such as low efficiency caused by block chain network congestion, high network costs passed on to ordinary users, smart contract vulnerabilities being exploited by hackers, etc…
However, the large-scale application of any new technology will not happen overnight. Undoubtedly, we are now on the eve of the outbreak of Web 3.0. New technologies, new concepts and new projects are emerging one after another. There may be bubbles, but the large-scale implementation of the future is just around the corner.
Author/ Translator: Jamie Kim
Bio: Jamie Kim is a technology journalist. Raised in Hong Kong and always vocal at heart. She aims to share her expertise with the readers at blockreview.net. Kim is a Bitcoin maximalist who believes with unwavering conviction that Bitcoin is the only cryptocurrency – in fact, currency – worth caring about.