What the heck is Web3? What does it have to do with blockchain?

In the past month, the trend data of web3 in the WeChat index once surpassed that of the blockchain. Since December last year, the word web3 suddenly came out of the circle, entered the traditional Internet, and then began to spread.

What the heck is Web3? What does it have to do with blockchain?

Judging from the recent financing situation and entrepreneurial dynamics in the Internet circle, it seems that traditional VCs are calling for “ALL in Web3”. So what exactly is Web3? How will the future develop? The vernacular blockchain will take you to clear the fog and disenchant Web3.

What is Web3?

During this period of time, we have seen the Internet entrepreneurial circle, and it seems that everyone is talking about Web3. However, there are various answers about what Web3 is. In fact, there is still no definition with a high degree of consensus, which is the same as “Metaverse”.

What exactly is Web3?

To clarify web3, we still have to look at Web1 and Web2 first.

What the heck is Web3? What does it have to do with blockchain?

What the heck is Web3? What does it have to do with blockchain?

This picture has been widely circulated on the Internet before, and the summary is relatively clear.

Web1 is a readable Internet. In Web1, we can obtain news and information from the Internet, but we can only obtain information unilaterally and cannot participate in interaction.

When it comes to Web2, there are some functions such as leaving comments, likes, private message chats, publishing topics, etc. Therefore, Web2 is not only readable, but also writable and interactive.

What about Web3, we can not only read and write, but also own.

What exactly does owning mean? In fact, it falls on “control”: we have control over accounts, data information generated by interactions on the platform, assets, etc., and we can have the final say.

What exactly is the “control” of Web3?

So what exactly is the control of Web3? Let’s list a few simple scenarios.

1) Control over the account

In the Web2 era, if we want to use the services of the platform, we must register an account, or use a unified account such as WeChat and QQ to log in. When your code of conduct does not meet the platform standards, your account may be restricted or banned at any time.
Therefore, in the web2 era, you actually have no control over your account.

However, in the era of web3, you can log in to all platforms with one account, and this account is guaranteed by a series of cryptographic algorithms, game theory and other technical means, so that you have control over your account and will not arbitrarily Restricted or banned by the platform.

That is to say, in Web3, your account is up to you and will not be controlled by a centralized platform.

2) Control over data

In Web2, in order to obtain the services of the platform, we have to sign the data privacy-related terms before using the platform, otherwise we cannot use the related services.

In the process of using the service, a series of data will be generated . For example, on a certain treasure, we have data on the preference of products, data on purchasing ability, data on purchase frequency, etc. These data may be produced by the big data platform of certain treasure. User tags are sold to relevant stores as accurate user tags. This is why we feel that the platform recommends all the merchants and products we like, because our purchasing habits data tells them everything.

However, when we are sold to the store as a precise label, we can’t get any benefit from it. We have accumulated a large amount of data for these platforms, and these data have become the core assets of the platform, but as the supplier and owner of the data, we cannot get any share of the pie.

However, in the age of Web3, the data we generate belongs to us. We can choose to open this data to the platform or to other merchants who need it, and we can get corresponding benefits while opening it up. Of course, we can also choose not to open, and we can decide whether to sell or not.

Moreover, under the protection of cryptographic algorithms, etc., our data information is censorship-resistant , that is, no party can compulsorily view our information without our consent. You can trust that in Web3, your chat history with your friends is completely private.

Therefore, this control is the control without revealing data privacy.

3) Control over assets

There is no need to say much about the control of assets. In Web2, our assets are kept in large platforms such as banks, Alipay, WeChat, etc. In addition to physical assets, our money is only the data in these accounts. Will all the assets in your account be frozen or frozen one day? What about zeroing? This is entirely possible.

However, in Web3, you have the right to control your assets. Although the assets in your wallet are also a string of numbers, as long as your private key is there, your assets are still there, and basically no one can forcefully confiscate your assets. assets.

What does Web3 have to do with blockchain?

So, after looking at these possible scenarios for Web3, it seems that we can say this about Web3:

Web3 is to break trust in centralized platforms or institutions as much as possible, break their monopoly, and take back individual control over data, information, assets, etc.

In this way, it seems that the core of Web3 is back to decentralization.

When it comes to decentralization, the first thing that comes to our mind is naturally the blockchain. So, maybe we can say that blockchain technology is the technical means to realize Web3.

The public chain projects that appear at present seem to all fall into the category of Web3, but it is only because of the difference in the degree of decentralization of different projects that the degree to which these projects reach Web3 is different.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/what-the-heck-is-web3-what-does-it-have-to-do-with-blockchain/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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