What can be built on web3?

If you want to create a thought and share it with the world, you can do it. In the web2 world, you don't need to be a developer to participate in the creation process. Many applications are designed in such a way that they easily allow anyone to be a creator. If you want to upload a video and allow millions of people to watch, interact with it, and comment on it, you can do that too.

Proponents of Web3 claim that their vision of the Internet can eliminate big-tech middlemen by completely decentralizing the web in the same way that cryptocurrency tries to take control of global finance from big financial institutions and governments. web3 is also designed, like cryptocurrency, to revolve heavily around blockchain technology. Web3 promises to reduce this concern by putting back control of your data and all your created and owned digital assets in its possession. It will do this by assigning you — and all those assets — unique digital tokens that Web3's critical infrastructure can track across the Internet.

This would work, once again, in the same way that the central ledgers that make cryptocurrency possible track every bitcoin, ether or dogecoin around the world as they pass from owner to owner. web 3, also known as “Web3″ or “Web 3.0″, is a term you may have heard a lot lately. It simply refers to the next iteration of the Internet that promotes decentralized protocols and aims to reduce dependence on large technology companies such as Youtube, Netflix and Amazon. But what is it and why is it on everyone's mind? Blockchain is a relatively new method for storing data online, which is based on the two basic concepts of encryption and distributed computing.

It will exist on the blockchain, a virtual column built by a network of computers that host data that is open to the public (Ethereum is an example of blockchain, although it also has its own cryptocurrency called Ether. Others don't like many of web3's current proposals because they are based on blockchain, which can sometimes consume a lot of energy and contribute to carbon emissions and climate change. Other important concepts that are often used in relation to web3's technical infrastructure are that it is open, which means that it relies heavily on open source software, without trust and without permissions. At the core of Web3 are distributed applications (or dapps) built on the Ethereum blockchain, which pays users who help keep their network online.

Tim Ludecke
Tim Ludecke

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

Leave a Comment

All fileds with * are required