They Said the Internet Would Never Take Off, How About Web 3.0?
15 Dicembre 2021 - 07:09PM
NEWSBTC
Imagine an internet that functioned for the sole purpose of
pleasing its users and was not dominated by data collecting giants
like Google and Facebook. One that was not being used as a means to
harvest our personal data, but rather was built and governed by its
users. Now stop imagining, this is Web 3.0. Web 2.0 was in its way
magical, it turned the one-dimensional first version internet into
a two-dimensional place to play, work and communicate. Web 3.0
intends to go the next step and turn the internet into a
three-dimensional place, where we can “visit” people wherever they
are in the world, where we can interact, conduct transactions
safely and privately, and where no organization will ever collect
our private data or track our activities. What is Web 3.0? The
difference with Web 3.0 is that it will be based on the blockchain,
consisting of a network of different chains that are interoperable,
allowing us to deploy smart contracts for smart transactions. The
blockchains themselves are built from codes, compiled and
authenticated across thousands of decentralized nodes globally,
giving no power to any intermediary or middleman, rather run and
governed by everyone. All activity is authenticated and automated
directly onto the blockchain, which makes transactions or
interactions tamper-proof and non-manipulatable. The real challenge
that Web3 faces are adoption by those individuals who do not really
comprehend what it is, how it works, and the benefits and are
perhaps used to hearing the terms NFT, DeFi and Metaverse but
really don’t know what this all means. There will be a need to
educate many people on this and the values of the blockchain but as
more and more protocols come online and can be used from inside
people’s current browsers this will be a step-by-step process. In
the meantime, many forward-thinking and often quite revolutionary
projects, apps and ecosystems are maturing and being developed, so
by the time Web3 sees mass adoption, the industry will be ready and
mature enough to cater for its B2B users. All users will need to
have a wallet and a means to purchase cryptocurrency tokens in
order to be able to take advantage of the many opportunities they
will offer on the blockchain. Many gamers are already realizing the
benefits of on-chain gaming, where they can engage in the new
play-to-earn model, where they are rewarded for participation,
rather than the former models of Pay to Play or Play to Win. Other
apps are giving users rewards just for engagement, eg. India’s
answer to TikTok, Chingari is rewarding users for both watching
short videos and creating them too. Projects built especially for
Web 3.0 Other teams developing purely for Web 3.0 include, SelfKey,
an Ethereum based project, builds digital identity systems for
users in order to transact over the blockchain, making users ready
for Web3 activity. It offers a wallet that enables users full
control over their digital identity. It is non-custodial, meaning
the user retains full control over their data, documents and
digital assets. It allows users to securely store and manage
identity docs and digital assets and gives access to various
marketplaces to both compare and sign up. Their other products give
access to fintech products and services, bank accounts,
residencies, and management of cryptocurrency portfolios of
Ethereum-based assets. The project is expected to grow from $90.4
Million USD in 2018 to $2 Billion USD by 2023, at an annual growth
rate of 84.5%. Partisia Blockchain, is a network built for Web 3.0
that has been developed for trust, transparency, and privacy. The
Partisia Blockchain Foundation is a non-profit foundation that
supports the development of a public blockchain, Partisia
Blockchain, with the goal of interoperability and opening it up to
a Web3.0 future. According to Partisia, “To us, Partisia means
“Distributed Trust”. Our mission is to establish a WEB 3.0
infrastructure with no single point of trust for generic
coordination of public and private information to be used by all
applications across all platforms.” Meanwhile, one venture capital
fund that is laser-focused on investing in Web 3 projects
said, “Web3 has become the latest buzzword for what crypto
and blockchain are all about. It’s the next revolution that will
enable us to interact with and dramatically change a lot of the
applications which we’ve been seeing emerge in the past 10-15
years”.
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