Why is web3 exciting?

Web2 refers to the version of the Internet that most of us know today. An Internet dominated by companies that provide services in exchange for your personal data. Web3, in the context of Ethereum, refers to decentralized applications running on the blockchain. These are applications that allow anyone to participate without monetizing their personal data.

Web3 is a dynamic landscape for the world to explore. It refers to decentralized applications (dapps) that run on the blockchain. There is no single controlling entity and the dapps embedded in the network are open. We realize that web3 can be a big challenge for developers trying to enter the field alone.

When assessing progress towards Web3 as advertised, I would also compare the adoption of cryptocurrency for other functions of purchasing financial systems, remittances, etc., not only with traditional banking networks but also with other emerging technologies. Some technologists expect Web3 to incubate a metaverse that is built using blockchain systems and open standards, and that it will be managed by a network of computers around the world, rather than a few large companies. If Web3 is to become a general-purpose financial system, or a general system of decentralized trust, it needs to develop robust interfaces with the real world, its legal systems, and the operating economy. And that idea, many of Web3's believers tell me, is what excites them, for multiple intertwined reasons.

The web was once seen as a utopia in which anyone could do anything, but Web3 advocates say it is now dominated by large corporations and proprietary algorithms. Many of the claims behind Web3, such as distributed architecture and decentralization, are best achieved without blockchains, according to skeptics. However, advocates of the Bitcoin blockchain (the original blockchain) tend not to be so optimistic about Web3.Web3 is a world-changing opportunity to create a better version of the internet and snatch it from the giants who control it today. Let's focus on those parts of the Web3 vision that are not about easy riches, solving difficult problems in trust, identity and decentralized finance.

Six months ago, he co-founded Station, which he would like to be the Web3 version of LinkedIn, connecting workers anywhere in the world. web 3 “is intrinsically linked to financial value, says Li Jin, a venture capitalist and one of the few prominent women in the Web3 world. Some of the new cultural norms in Web3 are a bit embarrassing, for example, tweeting “gm in the morning and “gn in the evening (good morning and good night).

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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