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1Web 3 change

The Internet has undergone a major upgrade before, expanding the performance, function and scale of the network. The network has changed from a plain text website to a streaming video, from a static web page to a fully functional application that provides services remotely through a browser, from a few servers to a global social network that can promote the development of modern politics and culture.

As the network matures, we rely more and more on a few big companies. Google has built a fast and convenient search engine that controls more than 74% of search traffic. Facebook has built a very popular social network that has gained control of the online identities of 2.2 billion people.

Unlike previous Internet upgrades, Web 3 is not about speed, performance, or convenience. In fact, at least so far, many Web 3 applications are slower and more inconvenient than existing products.

Web 3 is about ownership, about who can control the technologies and applications we use every day. It breaks the dynamic balance of the development of the Internet over the past decade: the tradeoff between convenience and control. * * We are used to this state, which seems inevitable: of course, surfing the Internet means being monitored, and of course, signing up for a social network account will mean selling personal data to advertisers or worse. How could there be any other way?

Web 3 rejects this claim. We can surf the Internet without giving control to those big companies. The above dynamic balance is not the iron law of the network, it is only the product of the available technology at that time, and it is also the choice we made in the process of development.

"Web 3" is a reform that builds different technologies and makes better choices. Instead of trying to replace the current network, we are trying to change the infrastructure while retaining what we like-reform, not revolution.

The projects in it seem unrelated, but they all share a common theme. Web 3 is a set of technologies that reorganize control of the Internet, from financial projects (cryptocurrency) to basic communications technologies (end-to-end encrypted messaging), to mass consumer use cases (open social networks and P2P markets), to major Internet infrastructure (decentralized DNS), Web 3 includes.

Web 3 not only has cryptocurrency, blockchain and other cryptographic economic products, it includes any technology that revolutionizes the centralized Internet, giving users back control of their digital world. However, we believe that these technologies are the most important contributors to today's Web 3 reforms, so this article will focus on these technologies.

Three Trends of 2Web 3

In this article, we investigated three trends and discussed how they evolve over time:

First of all, money will become a native function of the Internet.

Second, the "decentralized" application will provide users with new features.

Third, users will have more control over their digital identities and data information.

It is important to remember that the above trends are my guesses. Inevitably, Web 3 will contain technologies and applications that we cannot predict, and the technologies and applications we discuss below may be different in the future than we can imagine today.

2.1 currency

In Web 3, money will be a native function of the Internet.

In the past, the Internet was only the gateway to the offline traditional financial system. But cryptocurrency is essentially digital-sending a transaction does not require interaction with some offline systems, it just needs to send a message online. We will soon get used to the fact that "money" is generated by the Internet:

Collection and payment can now be done by any software, and through expansion, anyone with a connected mobile phone can do it.

Digital payments will unlock new business models that could not be practiced before. They will significantly reduce the cost of some transactions (such as cross-border remittances), implement new use cases (such as machine payments), and can be used in large new markets (such as people who previously did not have access to the traditional financial system).

An ecosystem of basic financial primitives-loans, derivatives, exchanges-provides the basic building blocks of more complex financial applications that anyone can use.

As technicians explore the field of encryption economic design, we will create new currency types. We are just beginning to explore new currencies, such as agreement tokens and irreplaceable digital assets.

Cryptocurrency is possible because Satoshi invented a network that supports cryptocurrency payments without giving control to any centralized company. Bitcoin is decentralized because it is "controlled" by multiple participants, from large mining companies to individual node operators to core protocol developers. They all affect the whole network in different ways and degrees, but no individual has the power to monopolize the network.

Decentralization has become the core idea of Web 3. However, it is often used more as a slogan than as an accurate technical description. Decentralization can refer to a variety of possibilities. If a platform is controlled by 20 entities, is it decentralized? What about 100 entities? Or 10,000? What kind of decentralization are we thinking about?

Decentralization is not a binary state-it is the direction of a series of possibilities. Saying that a system should be "decentralized" is a bit like telling engineers that a bridge should be "big". There is no doubt, but it is not a very useful information in itself-we also need to know the river you want to cross and the load you need to bear.

The point of Web 3 is not that all systems should be decentralized as much as possible, but that we can explore more priorities in decentralization. * * the degree of useful or necessary decentralization depends on the specific application. Bitcoin is an example: it is decentralized enough to resist payment censorship, and it is hard to change the basic parameter of cryptocurrency, the deflationary monetary policy: the total amount of Bitcoin is limited. Others have tried to create similar global cryptocurrencies to decentralize other features, such as Dai, a stable currency that tries to solve the problem of currency fluctuations.

Because Bitcoin was the first cryptocurrency to emerge, some people think it is the only viable design of cryptocurrency. As a result, "cryptocurrency" has become synonymous with certain political views on currencies, such as the advantages of deflationary currencies.

It is important to understand that there are many possible designs for digital decryption currencies, and different cryptocurrencies may have different uses. According to Bitcoin theology, the purpose of cryptocurrency is to allow people to choose to join their preferred monetary policy, and its advantages are self-evident. A more modest explanation is that the innovation of cryptocurrency is that people can choose any monetary policy, any kind of policy is possible. All they need is an Internet and a mobile phone.

2.2 decentralized applications and services

The products and services that make up the Internet today are often produced and controlled by individual companies. If you use an Internet-based application, there is likely to be a legitimate entity that controls it somewhere. The company will hire employees, identify priority functions, control the servers that host application data, and decide how to update the product.

The promise of Web 3 is that there may be other options. Maybe we can build products and services that are not controlled by any one company, but still have the same usefulness as centralized companies. Like Bitcoin, these products will be "decentralized", although the reasons for decentralization and the benefits of different products may vary widely.

For example, imagine what a "decentralized publishing platform" might look like. It will be a social platform like Twitter or Medium that allows users to share content, comment, and "like" their favorite content.

The platform has built-in incentives to encourage users to contribute. In addition to giving likes, users can also send small payments to each other, or set regular payments for the authors they want to support. The best Twitter and Medium accounts can be paid directly from the platform without having to cash in on their huge followings in other ways. Even if a like costs only a few cents per click, it's still an improvement on centralised platforms like YouTube, where authors earn only a few thousand dollars per million views. On our decentralized platform, no central entity can steal money from users' transactions. The platform can even use inflationary funds to create an incentive pool to reward the highest push.

The core rules governing our decentralized services are defined in open source protocols. Users use the client software of their choice to interact with the protocol. In other words, there will be all kinds of APP, and although these APP are developed by different people, they are all connected to the same social network. These client software may provide different functions, but they all conform to the same protocol, similar to the way email clients use the same standard to send and receive messages.

Users can choose any kind of client, and different clients can achieve different functions or three-party services. Because we are based on a decentralized protocol, client developers do not need to seek the consent of any central entity, and they can safely build their products without worrying that their API access will be revoked one day. Users don't have to wait for Twitter to add new anti-spam or anti-harassment features, they just need to choose a client that does so. An ecosystem of services is gradually evolving on the basis of open protocols, allowing users to do everything they can on Twitter, even more than Twitter can do.

* * this illustrates an underestimated benefit of a decentralized platform: a sustainable tripartite service ecosystem. * * Application developers can build useful products based on decentralized protocols without having to worry that one day their API access will be turned off because no one can turn it off. The platform remains neutral, which means that more developers will invest time and money on it to develop their own services. Chris Dixon's Why Distribution is important delves into this argument.

Of course, we will still use the products and services created by centralized companies. But these companies are also likely to reduce the types of control they have over their products and give more control to users.

This already exists in encrypted messaging APP, where applications such as Signal (built by Open Whisper Systems) do not see or retain any customer communication. By designing their applications using end-to-end encryption, they deliberately limit their control over users.

Web 3 has a higher goal than early Internet startups dedicated to "don't do evil" to try and make sure they can't do evil-at least in certain ways. Web 3 contains technologies that limit developers' control over customers by denying some of their rights in advance. That doesn't mean we don't have to trust centralised companies to some extent, but it does mean that we don't have to trust them that much.

2.3 user control of identity and data

In Web 3, users have more control over their identity and data.

Today, most of our online identities belong to other people, such as Gmail addresses or Facebook accounts. Web 3 is laying the foundation for personal control of online identity.

To some extent, this is the result of the construction of cryptocurrency infrastructure. Holding a cryptocurrency requires holding a private key, and millions of people will use applications that allow them to do so. * * but the same technology allows people to manage any blockchain-based data, including personally identifiable information. * * it is no coincidence that we call this kind of APP "wallet". In the future, they will save not only your money, but also your ID.

At the same time, Web 3 allows users to retain control of their data. First, because users have the right to choose to use their own identity rather than being provided by a third party, this limits the opportunities for three-party providers such as Facebook to capture user data. Second, the advent of decentralized services means that in some cases, no centralized company can collect, store or sell your information when you use social media, rent a house or take a taxi home. Generally speaking, most of the system platforms we are going to use cannot collect our data.

Finally, the new capabilities provided by Web 3 technology to control our identity and data information, as well as globally available payment networks, will make it easier for individual users to access the value of content, making social media companies worth 1 billion dollars.

Your data because it is valuable. * * in Web 3, it is the user who collects these values. * * if you want to sell your personal browsing habit data, you can sell it directly for you to get the data information, not a company like Facebook. And as we experiment with new mechanisms for digital asset ownership, individual users will get new ways to actually own the technology they use every day-currently available only to entrepreneurs, venture capitalists and authorized investors.

The above is about the content of this article on "how to use blockchain to understand Web3". I believe we all have some understanding. I hope the content shared by the editor will be helpful to you. If you want to know more related knowledge, please pay attention to the industry information channel.

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