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What is Web 3.0? How to invest in the next generation of the Internet?


The dominance of technology giants over the Internet and the use of user data for unknown purposes has painted a bleak future. But in the midst of this turmoil, the emerging idea of ​​the great computer scientist Dr. Gavin Wood, Web 3.0, has revived hopes for a world without domination and control.

In the following article from the website یاردکوچWe discuss the place of Web 3.0 in the future of the Internet and the importance of investing in this field.

A dramatic change in the world of the Internet

The current Internet is considered a design failure; That’s why seven years ago, Dr. Gwynwood, co-founder of Polkadot and co-founder of Ethereum, introduced the concept of Web 3.0.

Web 3.0 can be considered the next important step in Internet technology.

Visualize Gwenwood Internet without intermediaries and licenses می‌کرد It is run in a democratic society and does not involve centralized legislation and the dominance of big tech giants over user data.

In fact, the idea of ​​Web 3.0 came about because big IT giants like Google, Facebook and Amazon, by taking over a large part of users’ personal data in cyberspace, on the one hand use this information for their own benefit (advertising). Targeted, selling users ‘personal information and directing public opinion) and, on the other hand, endanger users’ data security by storing metadata on their centralized servers.

Gwynwood, in a podcast titled Third Generation Web, released in 2019, points out that:

In fact, social networks are valued by their users They do not; Rather, it is the data of individuals that is more important than ever.

Today, silicon startups raise their budgets and raise capital based on user data collection. Some platforms record almost everything you do.

Wood goes on to say:

This data can be used for targeted advertising, but on the other hand, this information can also be used in cases such as a better understanding of the mechanism of the world. With this data, you can predict how people around the world will think they do; At the same time, you will be able to better understand the political changes in a country. Admittedly, with such information, you can even predict things like election results.

Also read: How to find freedom in a world free of freedom?

What happens if Web 3.0 is ignored?

More than 4 billion people now use Web 2.0, or the current version of the Web. If the Web community ignores 3.0 and is still determined to be centralized, we run the risk of ongoing corruption and eventual community failure.

Power brings corruption, and absolute power lays the groundwork for absolute corruption Is. We have already seen such conditions in Maoist China and the communist Soviet Union. The Internet is also free from corruption is not. In fact, the Internet is more endangered because none of us understand it technically.

For example, I can hardly adjust my WiFi, let alone understand the code that allows me to write words on the Internet. I even made the computer I use myself, but according to British scientist Arthur C. Clarke, the technology is still not recognizable by magic.

The third generation of the Web pursues these goals to combat hegemony and centralism:

What is Web 3.0?  How to invest in the next generation of the Internet?
  • Open networks: ‌ Digital currencies made from open source software be; So that developers can access the code and use their past experience to develop the optimal version they want. Projects such as Binance Smart Chain and Ethereum Classic have used the Ethereum programming language, which is an open source software.
What is Web 3.0?  How to invest in the next generation of the Internet?
  • Remove intermediaries (No need for trustTrust through intermediaries is always corrupt. Google, the largest Internet intermediary today, once entered the tech world with the slogan “Don’t be evil” and gained the trust of users; But we must make sure that the rules and regulations work for us and not against us. It becomes difficult to accept this Google slogan when we see that searching for a single word leads to different results for each of our friends. Google and Amazon are our current Internet mafia.
What is Web 3.0?  How to invest in the next generation of the Internet?
  • No license required: Everyone can contribute to Web 3.0. With Bitcoin, anyone can have their own bank. With Ethereum, anyone can enjoy the rights to their artwork. Here the codes are the law. Everything in this system is accepted through a democratic process. The process by which members of the community vote in favor or against. This process is what has created Softfork, Hardfork, Decentralized Autonomous Organizations (DAOs), and government tokens.

In the following, we will review three Web 3.0 projects that we consider to be attractive investment options.

Also Read: The Comprehensive Concept of Decentralization by Vitalik Butrin

Polkadot and Kozama

Polkadot and Kozama

The most important project supported by the non-profit Web 3.0 Foundation in Switzerland is Polkadot. In less than a year, Polkadot has launched more than 350 softwares, transformed Blockchainchain technology through parachutes, and made great efforts to promote pluralism and maximalism in the Blockchain.

It must be acknowledged that Polkadot is seriously involved in this field and should not be referred to as the “Ethereum killer”; All the network has to do is act as a tool for interacting with other digital projects and currencies.

The ultimate goal of Web 3.0 is to connect all people regardless of social status, political affiliation, or ideological beliefs. There is room for all kinds of attitudes on Web 3.0.

Any project that ultimately wants to run on Polkadot must first be tested on Kusama. Kozama is a pre-production platform for Polkadot and is a unique project of its kind. Developers of digital currencies will be able to test their applications using Kozama before running them on the main network.

Ocean Protocol

What is Web 3.0?  How to invest in the next generation of the Internet?

Data collection never ends. But there are more ethical methods in this area that even allow the presence of technology giants.

Ocean Protocol was launched in 2017 based on Ethereum codes. Elimination of intermediaries, decentralized data storage and artificial intelligence sharing service are among the features of this network.

This project wants to play a role in the field of data like Uniswap Exchange and provide access to the free data market for all individuals and businesses. McConaghy, the project’s creator, said last year in an interview with Quinn Desk about the importance of the Ocean Protocol:

In the past, many people have tried to build markets based on data; But privacy issues have hindered their success. Ocean has overcome these obstacles by using Blockchain technology to calculate and analyze data. So our goal is to open up the data economy by creating data markets and connecting buyers to sellers. These buyers and sellers can be individuals, families, small and large companies, cities and even countries.

Computer Internet

If we want to refer to the project that is at the top of this field in terms of the goals and nature of Web 3.0, we must mention the Internet Computer.

Earlier this year, PC Internet tokens were able to reach the top 10 digital currencies in terms of market value. This is a foundation project Definiti It quickly became a popular name among investors and computer enthusiasts. The Internet of Things project now offers users a decentralized LinkedIn social network called LinkedUp and a version of the TickTock social network called CanCan.

Computer Internet

However, the Internet of Things has several major drawbacks that need to be addressed. Some of these are on the popular YouTuber app Coin Bureau Examined include the following:

  • You need an ID to work on this network. The identity of that PracticallyAll activities in this network depend on having it. So if you lose your ID, your computer internet access will be blocked forever.
  • System Neural Network (NNS) connects all Internet Protocols to a computer. This system is a powerful and centralized reference that can make changes to the financial and economic mechanism of the ICP token.
  • Most of the code used on the Internet is not open source. On the other hand, access to the computer blockchain is also licensed; Therefore, NNS is also a single point of failure in the network due to the mentioned features.
  • Dominic Williams, the creator of the Internet Protocol (PC), said in an interview in 2018 that the goal of the project is to comply with the laws of each country in which the network operates. The question now is how such a thing would be possible for a protocol that claims open and decentralized sovereignty?

According to some, the Internet of Things basically intends to replace the current version of the Web with a more centralized version. So it can be concluded that this project is a flawed version of Web 3.0 and members of the digital currency community have been attracted to it only because of price fluctuations.

In the continuation of this article, we will review a part of the report of the creators of this network regarding the characteristics of the computer Internet:

With the arrival of the new year, nearly 1,000 ninety parts of the world as Databases are managed by this network. Each node has the highest standards of performance and physical security. These nodes allow us to provide the processing capacity needed to run and implement PC Internet.

The above phrase implies that specific and certified devices are required to operate as ICP 90; Thus, such a controlling and incorrect process is practically in conflict with the nature and goals of Web 3.0.

Conclusion

Web 3.0 has two options In front of us First, a democratic future through decentralization; and second, oversight and authoritarianism in the hands of a few centralized factions.

To understand this authoritarianism, we must not look only at China as a supplier of digital yuan; Rather, to understand the nature behind the scenes, it suffices to note that the Chinese Communist War can for You Set a time and make you spend this money. Although such an issue may seem scary, but people China They have given in to such a situation because they have no other choice.

As Gwynwood points out in his remarks, accepting Web 3.0 will not be quick and easy. Some governments are trying to outlaw digital currencies and replace them with more centralized options.

Keyword in this situation; It is “effort”. Governments have not been able to rectify the current situation, and people like Gwynwood do not trust any of them.

There is fierce competition in Web 3.0, and this confrontation is slowly coming to an end. It is not clear who will win this battle in the end.

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