Does web3 already exist?

The analogue of our digital world could be a smart contract engineer. Today, web3 has not yet “crossed the chasm where we are in the “early adoption phase” of the technology adoption lifecycle. It is also true that today there are only parts of Web3.Building and then scaling the technologies needed to fulfill Web3's vision would require a lot of time, money and cooperation. Web3 is an idea still in development for a third generation of the web.

It follows Web 1.0, with its reliance on traditional web pages filled with content produced by commercial entities, and the shift from Web 2.0 towards the introduction and growth of social networks. Although Web 2.0 undoubtedly gave the average person more ability to produce, and even benefit from, their own content on the web, any such plan still required the involvement of a large tech company such as YouTube (owned by Google), Facebook, Twitter or any of the major social networks that they influence, and people: they trust to reach their audiences. VCs that invest in what they call Web3 startups want those small businesses to become big companies, all based on the idea that Web3 won't be controlled by large companies. This is hard to pin down, and it depends entirely on what your definition of the still-hazy concept of Web3 looks like.

In a Web3 world, people control their own data and bounce from social media to email to shopping using a single personalized account, creating a public record on the blockchain of all that activity. Tech magnate Elon Musk, the richest person in the world, was recently lost when he tried to figure out what web3 was. The vast majority of the general population, most likely, is completely unaware of even the concept of Web3.Some believe that the individualization of all web users provided by Web3's ideals could inflate all these malicious activities and generate completely new ones. A Web3 architecture can provide protocols for the avatar, clothing, and currency so that all those things work anywhere within the metaverse.

But Web3 is driving new conversations and generating a lot of new money, particularly from cryptocurrency investors. The Web3 movement has been helped by the rise of NFTs, or non-fungible tokens, which are digital collectibles and other online files that can be bought and sold with cryptocurrencies. While there is no official definition of the term, when people say “Web3,” they usually mean a decentralized, blockchain-inspired web architecture that gives users more control over their digital content and currency, and where transactions are much less dependent on trusting a central authority, such as a bank or a technology. platform operator.

The reaction was a large enough exodus of paid users that Citron took to Twitter once again to promise that Discord had no plans to launch Web3 technology just two days later. However, an extremely curious thing is that Musk supports the Dogecoin project, which in theory would be a decentralized project that could play some role on the Web. Advocates of Web3 adoption also advocate that Internet activity be governed by many rather than the incentives and biases of a few. Part of that may be political work, meaning that users, developers, technology companies, special interest groups, and others would need to participate in a variety of standards bodies and work out agreements on how Web3 protocols would work.

However, it remains doubtful whether Web3 does not have any significant role in the evolution of the Internet in the future.

Tim Ludecke
Tim Ludecke

Subtly charming webaholic. Lifelong music maven. Total twitter expert. Professional beer maven. Certified bacon geek. Total internet lover.

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