Web 3.0 is the third generation of the internet, which is the vision of a serverless intelligent Internet consisting of interconnected decentralized webs. An Internet where users have control over their own data, identities, and destiny.
Technology blockchain has come a pretty long way. Not too long ago, cryptocurrency was a rather obscure term, spread by a handful of those with a voice. The story changes after the Covid-19 pandemic has put many parts of the world on lockdown, leaving them unable to leave their homes and have plenty of time to learn new hobbies. Cryptocurrencies benefit from increased attention, participation in daily conversations among friends, family and colleagues.
Even so, cryptocurrency is a stub. Widespread adoption remains elusive, and traditional technology gatekeepers maintain their grip on the digital economy. To loosen that grip, those of us are building a decentralized Internet aka Web 3.0, must do a better job of defining the narrative of what is at stake if we are to continue to maintain the status quo.
We have a particularly compelling opportunity to capture the story, as Web 2.0's anti-control sentiment becomes particularly acute. The problems are becoming more apparent as we see how Web 2.0's structural inequities affect us all.
How can we bend the web back to its original vision of being a global utility and open platform where anyone can contribute and build? We need to capture the story to welcome more developers and users at the core of a thriving Web 3.0 ecosystem.
The open source nature of Web 3.0 means that instead of proprietary code being hacked and leaked, contributors can collaborate on technology and features from day one. Contrast with closed ecological systems built and protected by technology giants (Big Tech). People, companies, and developers are simply following the whims of centralized authority, forced to adapt to changes in products or terms of technology companies.
We've seen firsthand the overwhelming influence these gatekeepers have on developers. After Doug Petkanics (Livepeer co-founder)'s first company was acquired by Groupon, he built a company based on application programming interfaces (APIs) from giant tech gatekeepers: Facebook , Google, Pinterest and Twitter. Initially, these platforms are open, allowing Doug Petkanics to connect his services to the platform. However, his access was abruptly cut off because these platforms decided to close the access of third parties. Doug Petkanics' service failed because those platforms couldn't continue to function, this is a living lesson in the risks of building on someone else's technology platform (building a house on someone else's land) .
At its purest, the Web 3.0 economy is transparent and permissionless, giving stakeholders confidence that inherent interests are not secretly pulling the strings and controlling the outcome in their favor. . This form of creative sponsorship is becoming more popular every day as it is much more creator-friendly than the current options.
This transparent economy is what creators lack from existing Web 2.0 dynamics. As creators build within closed ecosystems, they remain constrained by which economy each platform chooses. And if the platform changes that economics, creators have very little choice.
Web 3.0 builders must also emphasize how to eliminate tax collectors "gatekeepers", allowing creators to keep more of what they earn. “Keep more of what you earn” and “Support more of what you love” are great boosters as Web 3.0 replaces Web 2.0. With that message, it's not just about empowering creators, but empowering fans to give more money to their idols.
The offers are adjusted
The final pillar of Web 3.0 is to align incentives between creators, users, and the platform itself. These incentives affect the platform's accountability and governance, which in turn affect maliciousness, participation, and control.
Accountability and governance are key issues when it comes to aligning incentives. Web 2.0 gatekeepers have little incentive for creators and users to "do it right". Because there is little competition, users are trapped in a closed ecosystem. And as privately owned entities with little outside regulation, they can do whatever they want. It is the “we make the rules, so accept it or reject it” attitude and the “us versus them” mentality.
With Web 3.0, governance is typically decentralized through a decentralized autonomous organization (KNIFE), or other community feedback mechanisms. By decentralizing community management from centralized governing bodies, people tend to self-censor. Communities built on shared passions are naturally regulated, and when community members step outside the boundaries, the community takes action. And if a community member doesn't like something, they can submit a proposal for the community to vote on to change the direction of the platform.
Ultimately, creators want more direct relationships with their fans and influence the management of the platforms they use. The Web 3.0 model attempts to solve this problem by allowing creator-driven platforms to also allow users to be owners in the platforms, often coordinated through tokens. Since they benefit directly through the growth of platforms, users are motivated to provide key services like censorship to prevent things like hate attacks.
Of course, nothing is perfect. Web 3.0 will still struggle with some of the censorship issues that other major platforms face. Critics of decentralized platforms say that the lack of centralized authority makes censorship more difficult.
However, as more platforms emerge to serve niche communities (instead of a single entity capturing everyone in a closed ecosystem), these smaller communities are the target. spending less attractive because of the harm done to larger platforms with global reach. Selling misinformation and participating in a scam is only harder when there are dozens or hundreds of platforms.
What's Next for Web 3.0
Web 3.0 builders must recap this story and move beyond “winners take all” to “community first”. It won't be easy. And there's still a long way to go until Web 3.0 creates more assets for creators than the Internet has ever done.
As Web 3.0 scales, we must also protect ourselves from falling behind. It would be a pity to simply copy the existing janitor model. That's why we must continue to deftly tell the story of Web 3.0 to help both developers and everyday users understand the value of Web 3.0 – and the pitfalls of staying relevant. current dynamics of Web 2.0.
After looking at Web 2.0's recent stumbles, it's clear we'll continue to be blessed with impactful examples of how far we've gone astray – and what we need to do to get back on track. The original vision of the Internet was to be a complementary and innovative place for society.
We are in a long way. We are missionaries, listening to our users, and building with a community-first mindset.
Tech gatekeepers are businesses that meet all of the following criteria:
- The companies control at least one “core platform service”.
- The core platform provider must also have a significant impact in the EEA market.
- The company must also operate a core platform service that serves as an important gateway for business users to reach end users.
- Core platform providers must hold or are expected to hold a permanent and permanent position in their operations.
What does Web 3.0 and Blockchain technology have to do with each other?
As mentioned above, Web 3.0 is a decentralized network, but a decentralized network must have a consensus mechanism to validate information and make members trust each other. Blockchain consensus mechanism to solve that problem. Without technology Blockchain, the dream of Web 3.0 will have to be postponed until another reliable consensus mechanism is found. In contrast, Web 3.0 is also another application of Blockchain besides cryptocurrency and data storage.