What is your definition of Web3
Everyone has an opinion, but there's no official definition.
This post is an attempt to collate IH's definitions into one consensus.
So, what's your definition?
(Whether short or long feel free to share :-) )
Everyone has an opinion, but there's no official definition.
This post is an attempt to collate IH's definitions into one consensus.
So, what's your definition?
(Whether short or long feel free to share :-) )
Hello Youssef!
The Internet we have today is damaged because, first of all, we do not control our data.
Web 3.0 defines the next generation of the Internet, redirecting power from big tech enterprises to individual users. This web will be decentralized and based on peer-to-peer technology. It would allow people to purchase and trade online without relying on an intermediary such as a company or a bank, eliminating any middleman fees and providing anonymity for its users.
I've written a 5-minute report about why 2022 is the year of Web 3.0 at https://thecryptojournal.substack.com/p/2022-the-year-of-web-30-tokens-trends
Let me know your thoughts!
Awesome thanks a lot for sharing ! I just subscribed to the substack (nice post btw).
Quesiton for you. Do you believe that Web3.0 will solely rely on blockchain to ensure decentralization?
Curious about your opinion.
Thank you!
Yes, I think Web 3.0 will solely rely on blockchain technology. META, Twitter, Microsoft, and all the 'traditional' big guys are already in.
In this case, there's something I've been battling with, which is regarding the very principle of decentralization.
Because we're talking about Web 3.0 being built on blockchain, interoperability between blockchains isn't there yet. So each blockchain might just be a centralized foundation for decentralized operations in its core.
Ex: Ethereum's blockchain v.s Cardano's blockchain.
Ultimately, it will be centralized unless we have a way to transfer assets or else between blockchains.
I truly don't have an answer for this ^^