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Ask HN: Is Web 3.0 just crypto or something more?

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Re: Ask HN: Is Web 3.0 just crypto or something more?

#11

Post by publiush »

Web 3.0 utilizes crypto in order to build something more than just the cryptocurrencies built in the past. A blockchain is useful in a decentralized system where a shared ledger is required. There are several different types of projects that are branding themselves Web3 -- and I think they are all correct; Web3 is a totally new web built by the people and controlled by the people.

> encompensate technologies like edge computing which are decentralising ownership of compute and data back to devices.

I've been working on just that [1], and I think many other projects are as well. If you stop focusing on the 'value' of 'coins' in the market and, instead, narrow in on the merits of the underlying technology, I think you'll quickly find that all the building blocks are there to get to this decentralized ownership model we are all seeking so eagerly.

[1] https://github.com/publiusfederalist/federalist

Re: Ask HN: Is Web 3.0 just crypto or something more?

#12

Post by lowkey »

vkkhare wrote: post #10
kyruzic wrote: post #6

Earlier quoted context omitted.

Its a marketing term in the same way web 2 is. That doesn't mean it isn't something new and useful though, just like web 2 was.

Web 2 as a term itself was coined much later when people needed to distinguish web 3 from status quo

For users

Web1: read only

Web2: read-write

Web3: read-write-own

Re: Ask HN: Is Web 3.0 just crypto or something more?

#13

Post by cfcosta »

Not an expert in any way, but what I've seen it described more than once is: web3 is the normal web with added payments/finances and decentralized identity, normally via metamask. It theoretically doesn't need blockchain, but I think the term itself is more commonly associated with it though.

You can still just do something that you authenticate using metamask or some other form of DID without using blockchain for anything else and still call your application web3, and I think this is a good distinction to make. Metamask is really good as an identity provider that is always online and doesn't require a centralized party, you can still get value from it without touching the finance part at all.

Re: Ask HN: Is Web 3.0 just crypto or something more?

#15

Post by vkkhare »

diego wrote: post #9

As I understand it, the gist of web3 is to do away with the need for having centralized organizations who control a particular resource. For example domain names, identities, speech. In the beginning, the web was supposed to be an egalitarian and democratic space. Of course corporations and governments seized as much control as they could. Today we have companies that dictate arbitrary rules. For example, there is no…

Exactly if that is the case, it should also include technologies where data ownership lies with the users. After all data itself is a huge resource. One of the biggest reasons corporates could monopolise the platform because as users we only had our own data but no access to others data.

Maybe a consent mechanism to use other's data in privacy safe manner, where anyone can build their analytics models and people can choose which one to follow or choose. Seems like a interesting proposition.

Re: Ask HN: Is Web 3.0 just crypto or something more?

#17

Post by andrewxdiamond »

kyruzic wrote: post #7
shoulderfake wrote: post #4

This is the absolute worst place to ask that question

Quoted post unavailable.

This style of straw man argument only serves as a means for _you_ to justify your own perspective. Be careful with these, they are how the extreme fringe (flat earth, anti-vax, etc) get to where they are.

I think you’ll find the vast number of people here do not care, just like they are not salty they didn’t buy a winning lotto ticket.

Re: Ask HN: Is Web 3.0 just crypto or something more?

#18

Post by Strom »

diego wrote: post #9

As I understand it, the gist of web3 is to do away with the need for having centralized organizations who control a particular resource. For example domain names, identities, speech. In the beginning, the web was supposed to be an egalitarian and democratic space. Of course corporations and governments seized as much control as they could. Today we have companies that dictate arbitrary rules. For example, there is no…

I think there are two fundamental issues that need some addressing:

1) Either the decentralized software system can't easily be updated without true consensus - which will make it slow and cumbersome (like bitcoin) or there will be a central authority that can just change the rules at any point - which will make it centralized (like Ethereum Classic vs Ethereum fork). Every web 3.0 related tech that I've peeked at looks to be like the latter - it claims to be decentralized, but is actually controlled by some central authority that is authoring the whole thing.

2) Governments aren't going to stop enforcing laws just because the activity moves onto a blockchain. Governments will most likely be slow to react, sure - but ultimately all these decentralized encrypted bits flow through a cable that the government can just cut. Wireless signals aren't an answer either, because the signal can be located and the antenna owner introduced to a wrench. A lot of web 3.0 promises that I've seen seem to either implicitly or even explicitly promise freedom from government policy, which I think is naive at best.

Re: Ask HN: Is Web 3.0 just crypto or something more?

#19

Post by vkkhare »

lowkey wrote: post #12
vkkhare wrote: post #10

Earlier quoted context omitted.

Web 2 as a term itself was coined much later when people needed to distinguish web 3 from status quo

For users Web1: read only Web2: read-write Web3: read-write-own

This is a very cool description! Hits to the point
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