This article explains the six most noteworthy directions related to Web3.0

If you were to describe Web3.0 in one sentence, how would you describe it?

Make Internet Great Again? (Make the Internet great again)

Let data ownership return to everyone?

Let information and value flow completely freely?

I think there is nothing wrong with it. There are many articles on the Internet about the division and definition of 1.0, 2.0, and 3.0, but if you really hear the concept of web3.0 for the first time, then a super simple concept can be summarized:

Web1.0: Yahoo, Sina, and Sohu, etc., content-oriented, less interaction; Web2.0: Facebook, WeChat and Douyin, etc., relationship-oriented, more interaction; Web3.0: Blockchain, Internet of Things and artificial intelligence Etc., data-based, trustless and disintermediated value interconnection.

Generally speaking, most of the blockchain directions can be tied to 3.0. After all, blockchain, as the infrastructure of Web3.0, can be integrated into the features of decentralization, censorship resistance, and trustlessness.

However, some are more in line with the vision of Web3.0 and will occupy a more important position in the future 3.0 era. This article attempts to classify and introduce them.

1. Money: BTC, USDX, algorithmic stable coins, ETH

BTC: The hardest currency in the future web3.0 era, there is no one. But I think there is a high probability that when the Web3.0 era is fully formed, Bitcoin should be priced in satoshis. A well-known platform supports Satoshi pricing this month. I believe that in the near future, more and more platforms will start this mode.

USDX: The most convenient “money” is the USDX series. The current two giants, USDT and USDC, dominate.

Algorithmic stablecoin: It is said that it is the holy grail of blockchain, from AMPL, to ESD, to BAS, to Frax, Fei, Bank, OHM… It has evolved many generations. I don’t know the end of Web3.0, will it? There is a stable and successful promotion from air to currency.

ETH: After opening in 1559 this month, ETH has taken the second step towards Ultra Sound Money (ultimate sound money). What is the first step? Of course it is DeFi and NFT! There is also 2.0 in the future, POS…

In the eyes of the ETH party, ETH is the ultimate currency, not BTC. Sooner or later, the total market value of ETH will surpass BTC. Of course, in the BTC party, this is a “idiotic dream”…Who is right and who is wrong on both sides, the next round of bull market, there is a high probability of meeting.

2. The underlying public chain: ETH, DOT, Cosmos, Dfinity

ETH: Needless to say, basically all “ETH killers” are now friends of ETH, not friends… Go to the trash to find them. You are not compatible with an EVM these days, so how can you mix them?

Ethereum is most likely to become the entrance to Web3.0 in the future. The biggest uncertainties about ETH are actually the following three:

1. Can it surpass BTC in this or next bull market?

2. In the future, will ETH dominate or multi-chain universe?

3. Is it possible to use Ethereum-based Web3.0 general-purpose single sign-on?

DOT: The concept of Web3.0 in the blockchain industry was put forward by Dr. Gavin a few years ago. ETH was also made by him and God V. Polkadot naturally occupies a place in Web3.0.

Compared with ETH, Polkadot has better on-chain governance, cross-chain design, and Substrate chain-making functions, etc. It is recommended to try Polkadot’s web wallet and browser plug-in, and switch back and forth between different chains, which is completely different from Metamask. The same experience.

Cosmos: The concept is similar to Polkadot, but it has a completely different style. Polkadot is a shared security system of ETH2.0, while Cosmos is a completely open IBC communication protocol. Which one is better and which is worse, also has to go through a round of bulls and bears. See the next cycle.

Dfinity: The launch of Dfinity can be said to have welded the final gate of the public chain track. When ETH 2.0 is trying to decentralize the Raspberry Pi as much as possible, Dfinity has surprised the circle with its data center and proprietary hardware design. Inside, the smooth speed and silky experience… let us see the hope of DApp’s resurrection.

Dfinity is a completely different design from the current mainstream blockchain ideas, so there is a high probability that it will not be a life-or-death with other projects. Many bigwigs in the circle are optimistic about the future of Web3.0, ETH will make the backend bigger, and Dfinity will make the frontend bigger. Both Love each other, you are in me and you are in me…

Similarly, it is recommended that you experience the “WeChat”, “Weibo” and “Tik Tok” on Dfinity, so that you will have a clear idea of ​​what the Web3.0 front end might be.

3. Storage: Filecoin, Storj, AR, Crust

This article explains the six most noteworthy directions related to Web3.0

If Web3.0 has two legs, and the public chain above is the one responsible for computing, then the other leg is storage. After all, if you want to return the ownership of user data to users, you must first have a decentralized storage place, right?

Filecoin: It’s 2021, so don’t confuse the IPFS protocol with Filecoin. Of course, you can understand Filecoin as an official application of IPFS, and the others are just OEMs.

Filecoin is undoubtedly the most important project in Web3 storage, and it is often compared with another project, Storj. Storj is more commercial and Filecoin is more versatile. Storj did not support IPFS at the earliest, but was incompatible with many “Ethereum killers” at the earliest. EVM, I found that I couldn’t beat it. It’s better to join the EVM camp and be an ETH friend. Storj now also supports IPFS.

But what many people don’t know is that Filecoin is rewarded by encapsulating data. Now the encapsulated data is basically junk data. The idea is to make the network bigger first.

Storj will only give you rewards if you store real and valid data and have been called. As a result, you can hardly get back your money in China, and it is also very slow abroad. There are two ideas in terms of market expansion and rewards.

AR: The domestic code name “Avi”, a very poetic name, and the main theme will last forever. The technical implementation of AR is completely different from Filecoin, and the storage method is also different. After all, it is “pay once, store forever”. At first glance, it sounds like a fantasy, but if you study it carefully, it is still quite possible, so Some people regard AR as the library of Alexandria on the chain.

Crust: Based on Polkadot’s star storage project, you can think of it as Filecoin on Polkadot, which also supports IPFS, but the technical implementation is completely different from Filecoin. Filecoin requires a lot of computing and hardware costs, and basically it’s going to the computer room. And the data center route, Crust has much lower hardware requirements, and both personal computers and servers can run.

4. Network: NKN, HNT

The Web3.0 network itself can also give you “decentralization”, of course, this will not replace the Internet, but only a useful supplement to it.

NKN is built on the existing Internet, with the purpose of “incentivizing Internet users to share network connections and use unused bandwidth”. Mining is also much easier. It can be mined by ordinary computers or Raspberry Pi. It was previously unknown. It was launched in the first half of the year. Suddenly it became popular after coinbase.

HNT uses low-power transmission equipment to build a network completely independent of the Internet through antennas. It is jokingly called “People’s Network” and uses radio waves to mine.

Because of the investment from Google, it has been in the limelight, but recently, a melon was reported because a domestic mining pool used “high technology”, which led to the report. The official directly reduced the production of domestic mining machines, which caused the current cycle to be greatly reduced. long.

5. Middleware: Link, GRT, Mask

A big difference between Web3.0 and 2.0 is that it is difficult to generate monopoly because of the bifurcated and composable type. However, middleware may be an exception, such as the most familiar Link.

Needless to say Link, basically all blockchain projects, especially DeFi-related, have to cooperate with Link. After all, to interact with the real world, the oracle is your most indispensable middleware.

Link brings the off-chain data to the chain, and Graph just the other way around, for on-chain data query and the API layer of the decentralized network, brings the on-chain data back to the off-chain, so it is also called the “reverse oracle” .

Mask is a bridge that serves as a bridge from Web2.0 to Web3.0, by allowing users to seamlessly send encrypted messages, encrypted currencies, and even decentralized applications on the platforms of traditional social giants (such as Twitter), in terms of usage habits. Help users seamlessly transition from Web2.0 to Web3.0.

6. Privacy and identity: Horizen , DID

Privacy here does not refer to anonymous tokens, but the overall privacy of on-chain or Web3.0 behavior. This is a track that needs attention at present. After all, the concept of Web3 hasn’t been released for a long time, and there are not enough users of applications such as DeFi. People don’t care too much about privacy.

But in fact, some professional DeFi farmers, especially large households and whales, are very concerned about privacy. The current blockchain is completely transparent on the chain and the behavior of “not wearing clothes” makes them very awkward. As a chain dedicated to privacy, Horizen may be the earliest one, the darling of grayscale, and the chain with the most nodes.

However, because it is a self-contained system and completely outside the ETH and EVM frameworks, the current sense of existence is very low, and it feels that in the future it is possible to rely more on the advantages of Grayscale to focus on commercial privacy sidechains.

And decentralized identity (DID) can be said to be one of the most important parts of Web3.0, not only Web3.0 or meta-universe, we will definitely need an ID to represent ourselves and connect with the chain. Connect with oneself.

At present, everyone’s on-chain identity is simply the ETH address. This method is undoubtedly too simple. However, this track is even earlier than privacy, and there is no project that can be called a leader. At present, only old brands can be thought of. CVC, Litentry of the new generation.

In other words, unless ten thousand chains are unified in the future, under the premise of multi-chain universe coexistence, building a unified identity system on the chain itself is an “almost impossible task”. The identity part can only be done while walking. Looked.

 

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/this-article-explains-the-six-most-noteworthy-directions-related-to-web3-0/
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