Understand web 3.0 and become a participant in web 3.0
The economic system of Web 2.0 has long been worn out by the early Internet companies. We have opened the door to web 3.0 and are in the early stages of this new era, where a decentralized system will change our work and life.
The Internet giants have been eating us up for over a decade and we are all slaves to their business empires.
The web 2.0 applications we use in our daily lives are stealing our personal data and privacy all the time and turning it into a tool for their profit. Do the Internet giants share the revenue with their users? No, most of the revenue is in the hands of Internet companies. Why should we give ourselves away for free and become a tool for profit?
The concept of web 3.0 has been proposed for nearly seven years, and its current situation is more like the situation faced by the Internet in the 1990s, when no one understood web 3.0, just as most people never saw the Internet. Web 3.0 is best explained as the interoperability of information, where everything created by the user on the Internet belongs to the user and the user is in charge of the data.
Elon musk once claimed: “web3.0 is more like nonsense, I’ve never seen web3”, but from Elon’s recent move of acquiring Twitter, whether to transform twitter web3, pioneering we do not know yet, but Twitter as the current web 3 people most But with Twitter being the most popular social media on the web, and with the new features that Twitter has recently launched, it’s interesting to see what’s in store!
What does Web 3.0 bring to the table? Why should we get involved in web3?
1. Everyone has their own identity
The emergence of decentralized domain names bridges the identity system of users into web 3.0, where everyone can apply for a decentralized domain name, such as ENS, DNS, etc., to create a personal sub-domain with a fixed top-level domain. Or Handshake, for example, focuses on DNS top-level domain (TLD) registration authentication, where users can create a top-level domain name of their own, and if other users need to use this top-level domain name, they can only find the creator to buy the right to create it. The domain name can be used to bind addresses and personally identifiable information to swim in the web 3.0 world, where everyone knows who you are.
2. On-chain proof of interest
Smart contracts have emerged to play a righteous prosecutor on the Internet. Individuals create content written into smart contracts that include and prove that ownership of the content creation always belongs to the creator and cannot be changed by anyone, and we can call any content created at any time and display it in any Dapp program or any public place. Take mirror as an example, the author can cast the content as NFT in his own decentralized wallet, and improve the ease of data extraction for users.
3. Decentralized Storage
When using music, video, and other platforms, the music we listen to, the video we watch, everything is a virtual product owned by the platform. The platform has all the rights to control the virtual product. We only use it for a short time, not really own it. If anything happens due to poor management or copyright disputes and other irresistible events, the platform can take down any virtual product used by the user at any time, and will not really consider the feelings of users.
Using decentralized storage, users can participate and provide other users with the ability to facilitate. Suppose user A needs to listen to a Justin Bieber song, user B can send the song to user A on their own cloud storage and collect a certain amount of profit from it, while user A needs to pay a certain amount of music membership fee. So as long as there is a functioning cloud storage in the world, then the virtual product we are using will never be taken down!
4. NFT is an integral part of web 3.0
Why can’t we turn virtual products into existent products and really own them?
The emergence of NFT makes this concept a reality, and can also achieve interoperability between platforms. Imagine we have an A-game or burst equipment, transforming it into an NFT in our personal wallet. Even if we do not play A-game one day, we can still take the game equipment away, and free trade in the market, aggregating other free traders, in exchange for the corresponding NFT or the equivalent amount of token to get what we need. Of course, we can create and trade other virtual products in the form of NFT to improve the ease of trading, by trading NFT can directly transfer the user’s ownership and commercial use!
5. Data and Privacy
Users are saying that platforms know more about themselves than we do ourselves because they are constantly doing big data analysis to obtain aspects of our data that are of more interest to us, but for us as individuals, data and privacy are the most valuable things about ourselves, but the only thing we can do is to turn passivity into an initiative. Instead of being stolen by web 2.0, we can actively contribute to web 3.0 and earn revenue from it. Of course, you can also have the right to retain.
But with the current development of Web3.0, practitioners are still facing various landing problems.
For web3.0 ecology where the core is a decentralized, value-driven, fair network, web3 api is based on the global scope. It is more like a technical framework or platform. In terms of how to go about building a good economic system, develop rules, integrate information, and achieve interoperability between platform information, this will be what web3 developers are currently trying to do.
The speed of web3 is twice as fast as the current fastest 5G, and no application should worry about the speed, but the efficiency and applicability of the current technology use are too poor to accommodate the huge user base, which will be a huge problem for the practitioners.
Users enter and become familiar with the use of web3.0 applications far more than the use of web2.0 applications to understand the amount of basic information obtained, so the popularity of the majority of users is also much more difficult, coupled with the constraints of national policies, these issues will certainly be the number one problem that web3 practitioners need to solve.
You may be able to gain a lot from web. But because of a casual click on a phishing site, which only takes a few seconds, you will instantly lose everything you have gained. Note that this is not accidental but frequent!
Seeing the enthusiasm of many web3 practitioners, the yearning for a fresh concept, despite all the obstacles, will not affect our way forward, the web3.0 ecosystem that is in its infancy is just beginning.
