Web3
Web3 refers to a proposed new decentralized web architecture built upon blockchains and related technologies such as cryptocurrencies to deliver a paradigm shift in the world wide web.[1]
The original concept and naming of Web3 came about in 2014 from Gavin Wood, a co-founder of Ethereum, who saw the blockchain as the key for a new, decentralized, and democratic web. [2] Proponents of Web3 claim that the current state of the web (Known as Web2 or Web 2.0) is too centralized with massive organizations having total control of platforms necessary for daily life.Cite error: Invalid <ref> tag;
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While, some high-profile figures in the tech industry have pointed out flaws in Web3 such as Jack Dorsey, founder of Twitter, who argued "You don't own 'web3'. The VCs and their LPs do. It will never escape their incentives. It's ultimately a centralized entity with a different label."
Contents
History
Key Technologies
Companies and Projects
Key Point: Brave Browser, Gemini, OpenSea
Security
Ethical Considerations
Key Points: Scams(FTX, Cryto Zoo, etc.), Theft, Equal Access, Environmental Concerns (Blockchain Inefficiencies),
References
- ↑ Congressional Research Service. (2022). Web3: A Proposed Blockchain-Based, Decentralized Web (IF12075). Retrieved from https://crsreports.congress.gov/product/pdf/IF/IF12075/2
- ↑ Kharpal, A. (2022, April 19). What is 'Web3'? Here's the vision for the future of the internet from the man who coined the phrase. CNBC. Retrieved January 26, 2023, from https://www.cnbc.com/2022/04/20/what-is-web3-gavin-wood-who-invented-the-word-gives-his-vision.html
