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What is Web3?


Jan 19, 2023

What is Web3?

Web 1.0 is the first version of the World Wide Web, which began to gain popularity in the early 90s after the introduction of the communication protocol and http. Sites of this version were static pages with text, links and images. According to Tim Berners-Lee, who is called the author of the network, web 1 sites.0 were available “only for reading”. Interaction with sites was limited to the simplest forms of communication, such as forums.

Web 2.0-the second generation of the Internet, which began distribution in the early 2000s. Web 2.0 are interactive platforms and services connected to the World Wide Web. The difference from the first generation is that sites have become web applications that users can independently use. Later, social networks and a cloud service system were added to this. Famous representatives of Web 2.0 – Amazon, Facebook and Twitter.

How web3 differs from previous versions of the Internet?

In Web 1.0 Data were presented to users statically-websites were exclusively informational in nature. In Web 2.0 Users are actively interacting with Internet resources, create their own content and communicate with each other.

For the first time web 3.0 appeared back in the 90s. Berners-Lee called it a semantic web. The architecture of the new generation was supposed to include several main components. Among the main ideas web 3.0 was the translation of the entire network content written in the human language in an machine -readable form, which would allow algorithms and programs to recognize messages and build connections based on them.

In the future, the perception of the concept has changed. In 2014, the co -founder of Ethereum Gavin Wood published an article described by Web 3.0 from the new side – as a more decentralized version of the network, built using blockchain. His proposals concerned primarily changes in the data storage system and increase the level of anonymity of users.

In 2021 the term web 3.0 again remembered – amid the growth of the popularity of decentralized applications and NFT. In the course of stormy Internet dissections, the word “web3” also gained popularity.

What is web3 after all?

The crypto community is still looking for a definition for Web 3.0. But his fundamental difference from Web 2.0 is an increase in decentralization at all levels, including in storing data and using applications. Web3 applications are often called those that have one or more attributes from the list below:

  • Blockchain and smart contracts are integrated into separate functions of the product;
  • The source code of the program is published, there is the possibility of participation for third -party developers;
  • The service uses virtual (VR) or supplemented (AR) reality technologies;
  • tools for paying operations using cryptocurrencies built into front -end;
  • the use of non -replaced tokens (NFT);
  • The IPFS protocol is used in the data storage system;
  • A decentralized autonomous organization (TAO) is involved in the project management.

Web3 also involves the active use of artificial intelligence (AI). This gives wide opportunities for personalizing user experience. A similar principle is the basis of business models of many large web platforms, such as YouTube, Netflix or Amazon. Although from the point of view of the organization they remain centralized.

Web3 is also closely related to the concept of metavselnaya.

Another key phenomenon of Web3 is a sovereign identity.

How web3 applications work?

When developing new generation applications, they adhere to the decentralization of the data organization, including their storage. At least part of the data of the network application is stored in the blockchain, that is, decentralized.

The development of the product is engaged not only and not so much the owner as the distributed community. It controls the project through Tao (decentralized autonomous organization).

In turn, decentralization is the key to the fact that cryptocurrencies and smart contracts were implemented in the economy: to exclude the need for trust, and, therefore, in intermediaries and centralized structures.

Thus, the ideal state of Web3 is https://gagarin.news/news/ledgers-ceo-fears-that-a-new-european-law-would-encroach-privacy/ freedom from censorship and restrictions, as well as an effective business model without the use of hierarchical structures and traditional financial instruments.

What blockchain projects work in the Web3 field?

There are many projects in the crypto industry that position themselves as part of the Web3 movement. Let’s call several largest examples:

Filecoin (FIL) – global “marketplace” for decentralized data storage. It is an alternative to centralized cloud storages: unites a network of computers whose users can “rent” free space on the disk. Compilecoin competitors are Storj (Storj) and Siacoin (SC).

In the direction of data transfer and the Internet of things (IoT) there are also successful examples. One of them Helium is a decentralized network of special modems that provide a quick and stable connection service for IOT devices, primarily “smart” sensors and meters.

Another example is ITA, which is built on varieties of a distributed registry without the use of blocks and mining. Instead, each next transaction confirms the previous two. IOTA is also intended for “smart” devices that can carry out microtransactions in this network almost free.

There are projects offering a new system of organizing and searching for content on the network. For example, The Graph (GRT) is a decentralized and open indexing protocol for data from blockchains, acting as an analogue of the Internet search engine. The information from a separate network The Graph is grouped into the so -called digging, access to which is carried out through the API. Applications can receive any data from subrogfs by SQL queries.

Polkadot initially positioned itself as a platform for Web3 and, in particular decentralized applications. For developers, there is a set of POLKADOT Substrate tools, which allows you to create separate blockchains (T.n. “Parachans”) interconnected by Polkadot ecosystems.

An obvious contender for the title of the main blockchain for Web 3.0 – Ethereum, which has already become the main platform for decentralized applications. In addition to many Defi and NFT projects, you can distinguish the Ethereum Name Service service that allows you to generate domain names tied to the address in the network.

Blockchains for Web3 include other platforms for decentralized applications, including Solana, Avalanche, Polygon and others.

Why do web3 need cryptocurrencies?

Many new generation Internet projects can have their own cryptoactive, which has certain functions or gives advantages when using the application.

One of the common functions of the project token is management. Token holders participate in the management of the application through Tao-the decentralized control body working using smart contracts.

The amount of tokens in the possession determines the “weight” of the voice during the votes. The members of the Tao themselves formulate and discuss new proposals, and also vote on them. Voting Tao can concern a variety of questions-from allocating funds to some project to a change in some parameter of the application.

Thus, Tao is responsible for the development of the project and its tokenomics.

Large Internet companies also develop Web 3.0?

The WEB 3 concept attracts not only crypto projects and startups, but also traditional Web 2 players.0 – large technological companies.

In May 2022, Google Cloud announced the beginning of the development of instruments for blockchain developers. The ex-chairman and head of Google Eric Schmidt called the idea of ​​Web3 interesting and identified two changes that the new generation of the Internet will bring-the content of the content by users and the payment of compensation for activity for activity. And the co -founder of Ethereum Joseph Lyubin noted the possibilities of decentralization, which are provided by the “new version” of the Internet.

Web3 elements in its products plans to introduce YouTube. Support for decentralized applications at a native level is developed by the Opera browser team.

According to Grayscale, the growth of the annual income of the metavselnaya sector Web 3.0 will reach $ 1 trillion. Large companies, such as Uniswap Labs, Pantera Capital and Dragonfly Capital, created venture units that will be focused on the development of Web 3 applications.0.

According to the Electric Capital study, in 2021 the number of developers in the field of Web3 technology increased by 75%.

What are web 3.0?

Blurry of definition and extremely frequent use of this word make the idea of ​​Web3 a popular object of criticism.

For example, businessman Ilon Musk in an interview at the end of 2021 stated that Web 3.0-this is “more means for promotion, not something real”.

Someone saw Web3? I can’t find him.

The founder of Twitter Jack Dorsie criticized the concept for the fact that in the Web3 field there is too much the influence of venture investors, so it will never be decentralized.

Later, Dorsy presented its own project in the field of New Internet – Web5 platform. It allows the developers to introduce a decentralized data storage system and user’s digital identity into applications.

The cryptographer and founder of the Signal messenger Moxylinspike drew attention to the fact that applications that claim to be decentralized are relied on decentralized services, in particular servers and API.

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