“Father of Web3” Answers: What Exactly is Web3

What is Web3?

If you can’t answer, don’t worry, you’re not alone. Whether it’s from a VC, media, or corporate announcement perspective, the concept has been around for quite some time, but it’s still hard for the general public to understand what the hype is all about.
At its most basic level, Web3 refers to a blockchain-based decentralized online ecosystem. On a larger scale, Web3 represents the next stage of the Internet, and perhaps the next stage of human society. Of course, this is all based on what you believe.
The term Web3 was coined by Ethereum co-founder Gavin Wood in 2014, and it was originally called Web 3.0.
Since it’s Web 3.0, that means there’s also Web 1.0 and 2.0. The former is a thing of the past and is characterized by the fact that most web activity is associated with a single static web page. The latter is the current era, an era of centralization, because a lot of communication and business activities are concentrated on closed platforms owned by a few tech giants, such as Google, Meta, Amazon, etc.
From this perspective, Web3 represents a vision to break this monopoly control – Web3 platforms and applications built on blockchain technology will not be owned by giants, but by each user, who will be Help develop and maintain these services to gain ownership.
To achieve this ideal, Gavin currently runs the Web3 Foundation, which supports decentralized technology projects, and Parity Technologies, a company focused on building blockchain infrastructure for Web3 (developing the blockchain project Polkadot).
Recently, in an interview, Gavin described his vision of Web3 and his vision for the future from the identity of a Web3 proposer. The editor organizes the key contents into a text, hoping to clarify the ideas for readers in related fields.

"Father of Web3" Answers: What Exactly is Web3

Attachment: Gavin Wood, British computer scientist, co-founder of Ethereum, the main developer of the C++ version of the Ethereum client prototype, completed the writing of the Ethereum Yellow Book, and invented the Solidity language specially designed for Ethereum smart contracts , dubbed the “invisible brain” of Ethereum. After the Prism incident, Gavin Wood proposed Web 3.0, hoping that in this stage of the Internet, everyone can control their own destiny, such as our digital identity, digital assets and data.

1. Why Web ?

Gavin believes that the model of Web 2.0 is very similar to the social model before the Internet, and we are talking about Web3 because the current Web 2.0 is not good enough.
If you go back 500 years, most people were basically confined to their small villages and towns, interacting and trading with people they knew. Broadly speaking, they rely on social structures to ensure that their expectations (of transaction outcomes) are credible and likely to actually happen, such as buying apples that don’t rot within a short period of time – which also means credibility ensure.
At the time, this worked fairly well, because moving between towns was difficult, time-consuming, and expensive, so many people would pay extra attention to their reputation in order to stay in one place.

"Father of Web3" Answers: What Exactly is Web3

(Source: moralis.io)

It can be simply considered: Web1 is a read-only network, Web2 is a read-write network, and Web3 promises to provide an unmediated read-write network, that is, a decentralized Internet.
But as society becomes larger, we have cities, nations, and international organizations, and we create a lot of powerful but regulated institutions in order to guarantee larger-scale credibility issues. In principle, they exist to ensure that our expectations are met. A typical example is if you want to do business in a particular industry, you must first meet certain statutory requirements.
This is not a good solution. One reason is that emerging industries are very difficult to regulate, as governments are often slow and take a while to catch up. Another is that the regulators are not perfect, especially when they work closely with the industry, there is usually some revolving door relationship between the industry and the regulator.
Another reason is that the capacity of regulators is very limited, and the completeness of regulation depends on the resources invested by the government. They may be able to control the swaggering criminals, but they cannot maintain a strong influence at all times, and the regulatory system varies from country to country.
We need to get past that. But unfortunately, Web 2.0 still exists in this very centralized model.
“It’s a broken model,” Gavin said. “We need to address this model of regulatory failure at the technical level.”

2. Less trust, more truth

To explain Web3 in one sentence, Gavin thinks its definition is “less trust, more truth”.
In his eyes, “trust” has a special meaning: it is essentially “belief”. It is the belief that something happens and the world works a certain way, without any real evidence or rational argument for why it happens.
Conversely, “real” in his eyes means that there are more reasons to believe that expectations will be met.
Going a step further, Gavin believes that “trust” is not a good thing in and of itself. Trust means that you give some kind of power to another person or some organization, and they will be able to use that power in any way. As a result, trust may become blind and no longer truly trustworthy.

3. Break the monopoly, is it possible?

In the series of visions described by Web3, a very important goal is to break the monopoly, especially the monopoly of platform enterprises such as Google and Meta.
Gavin believes that although this sounds difficult to achieve, and he himself does not know whether it will actually be achieved, he believes that it is a logical improvement, and should be inevitable, otherwise it represents “the decline of human society. “.
He cites encryption algorithms as an example, which can help people realize encrypted conversations and complete information transmission only known to the participants. One app that has made a name for it is WhatsApp, which claims to offer end-to-end encryption that even the company that owns it cannot decipher.
This looks great, but the question is what if WhatsApp included a key in its service that could decrypt all conversations? WhatsApp says no such key exists, so how do you know it doesn’t exist?
You have no choice because you can’t see the code, you can’t see the key structure, you can’t see how the service works, so take its word for it. This is also known as “blind belief”. Of course, it may be telling the truth out of fear that its credibility will be severely damaged if it fails to do so.
Yet as we’ve seen with Prism Gate, sometimes companies don’t get a chance to tell the truth. Intelligence or security agencies can install tools in their backend and then keep companies out of those tools for various reasons.
Under the Web3 architecture, blockchain can solve this trust problem well. Its openness and transparency are key, and we can judge whether a company is a Web 2.0 company in disguise by analyzing its infrastructure structure and operating model, such as whether it is really a peer-to-peer architecture, or still relies on a data center .

4. What is decentralization?

Decentralization is another focus of Web3, which is also the core of the spirit of the Internet, but at present it only stays at the technical and protocol level. On a practical level, people rely almost entirely on technology companies for their Internet activities.
In Gavin’s view, decentralization means “everyone can be a provider or co-provider of a service as easily as any other person in the world”.

But that sounds difficult to achieve. It’s hard to imagine that anyone other than a small group of highly skilled programmers is actually involved in providing any internet service, so this might end up being a form of centralization again.

In this regard, Gavin’s explanation is that “having the right and freedom to do” and “fundamentally completely unachievable” are two completely different concepts. If a person relies on his own efforts to provide a service using freely available resources, then he can be called a co-provider of the service, and the service will be free.
“It doesn’t necessarily mean that everyone has to learn to program and become a Web3 programmer,” he added. “I’m not going to try to convince you that everyone in the world can do it. But the point is, the more people who can do it, the lower the barrier to entry, the better.”

5. What does the world of Web3 look like?

Gavin believes that the initial Web3 applications may be mostly small iterations of Web 2.0 applications, but then Web3 will bring financially obligatory or economically more robust applications — providing economic services between individuals in a peer-to-peer fashion — — This is one thing that Web 2.0 cannot easily solve.
The cryptocurrency we see now is only a small part of it, and the transfer is only a small part, and the economic services brought by Web3 can cover those very scarce, expensive, and difficult things.
To give a common example, if there is a dating app that can limit you to only send one flower to your loved one per day, no matter how much you pay, you can’t violate this, then this flower has the attribute of scarcity. If it is a Web2.0 company to operate, then it will definitely do this from a commercial profit perspective, as long as you pay, you can send as many flowers as you want.
So don’t Web3 companies need to be profitable? How can we expect them to break the rules?
In Gavin’s view, there is a fundamental difference between a blockchain-based Web3 company and a Web 2.0 company. In the Web 2.0 era, technologies represented by programming empower users to do more things, become richer, and serve more people faster and better.
Blockchain doesn’t do that. It is fundamentally different. It’s really a social structure, a new set of rules that only work is that no one has arbitrary power within the system. As a user, you can be fairly sure of this, especially if you’re a programmer, then you can read the code and know it’s doing the right thing.
On the other hand, you can also reasonably infer from the number of users, since there are so many people who use a service or join a network with some kind of expectation. If this expectation is not met, they will leave.
Gavin stressed that Web3’s purpose is not to replace today’s tech giants, although the concentration of technology “threatens the services and expectations we have.”
“More importantly, Web3 is actually more of a larger social movement that is moving away from arbitrary power to a more rational model of freedom. It’s the only way I can see to protect the free world, which is our The life we’ve enjoyed for the past 70 years is the only way we can keep it running for the next 70 years.”

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/father-of-web3-answers-what-exactly-is-web3/
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