Ask HN: Is Web 3.0 just crypto or something more? • Hacker News Board

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

#51

Post by ayushb26 » Sat, Dec 25, 2021, 6:26 PM UTC

As suggested, the core ethos of web 3.0 is truly decentralisation.

Decentralisation of internet was there since the very start of the World Wide Web.

The first internet during era of ARPANET was decentralised and it evolved into giant monolithic cloud to to appease the economies of scale.

In recent times, we have seen a lot of limitations and vulnerabilities of our dependence on the cloud counting from data breaches, hacks to outages. But since Cloud has become a single point of failure.

There are tens of billions of devices on earth having capabilities far exceeding the Great Cloud, yet they are completely wasted because we insist on using the data-centers to do everything.

It is high time that we realize the ceiling and limitations of the Great Cloud and move towards a decentralized cloud where the devices in our hands are the powerhouses.

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

#52

Post by vkkhare » Sat, Dec 25, 2021, 6:27 PM UTC

giantrobot wrote: post #41

vkkhare wrote: post #15

Earlier quoted context omitted.

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…

> 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. But cryptobros are all about secondary markets. So as soon as you give permission to your data to an entity they'll copy it off-chain (you can't stop them if they can read it) and bundle it up for resale. All th…

That's why not giving them ability to copy data, allow them to use that data only on your device and send aggregated information back. So they cannot copy the data

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

#53

Post by paulryanrogers » Sat, Dec 25, 2021, 6:27 PM UTC

hackernudes wrote: post #28

smt88 wrote: post #2

Decentralization without blockchain has existed and worked for decades.

Can you name one example of decentralized software?

IRC or BitTorrent?

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

#54

Post by nathanaldensr » Sat, Dec 25, 2021, 6:31 PM UTC

In a time when technological progress has peaked, the only "innovation" money can target is marketing innovation. Thus, a preponderance of confidence scams.

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

#55

Post by brightstep » Sat, Dec 25, 2021, 6:33 PM UTC

jt2190 wrote: post #34

Strom wrote: post #18

Earlier quoted context omitted.

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 lo…

> Every web 3.0 related tech… claims to be decentralized, but is actually controlled by some central authority that is authoring the whole thing. Can you elaborate a bit? Are you saying that ultimately things start looking like competing groups or that they start looking like a single group?

Things look like competing groups, just as they do now with corporate control over web 2 infrastructure

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

#56

Post by giantrobot » Sat, Dec 25, 2021, 6:35 PM UTC

publiush wrote: post #11

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 edg…

The decentralized nature is immaterial if actual useful data/computations can't be performed by the network.

Ethereum's chain is about a terabyte and the total compute power is less than a single raspberry pi. So you can't store a meaningful amount of data on it without insane fees nor can you do much in the way of processing. This means anything interesting exists off-chain.

If interesting things exist off-chain...there's not much utility in having a blockchain at all. It's just a slow expensive ledger with no off-chain authority. Even if a transaction points to some content addressing P2P resource (IPFS etc), that content only exists while someone is hosting it from some machine(s) somewhere. When it stops being pinned (or conceptual equivalent) the record on the blockchain is worthless.

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

#57

Post by nonbirithm » Sat, Dec 25, 2021, 6:41 PM UTC

stathibus wrote: post #27

The only people talking seriously about web 3.0 are selling a crypto product, therefore it is a crypto product marketing term.

My view is that if Web 2.0 was relatively uncontroversial but from it arose adtech, dark patterns and the burning need for uBlock Origin, then with Web 3.0 being tied to what it is at this stage, the future is bleak.

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

#58

Post by cblconfederate » Sat, Dec 25, 2021, 6:48 PM UTC

ayushb26 wrote: post #51

As suggested, the core ethos of web 3.0 is truly decentralisation. Decentralisation of internet was there since the very start of the World Wide Web. The first internet during era of ARPANET was decentralised and it evolved into giant monolithic cloud to to appease the economies of scale. In recent times, we have seen a lot of limitations and vulnerabilities of our dependence on the cloud counting from data breaches,…

So why isn't it called web1 or web0? I do think dApps are closer to Email, a web0 protocol (and the only truly decentralized user-facing protocol left)

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

#59

Post by giantrobot » Sat, Dec 25, 2021, 6:53 PM UTC

blhack wrote: post #42

Web3 replaces storing things on webservices which are run by companies like Facebook or Twitter with storing things on blockchains. So yes, it is a crypto thing in the sense that it uses blockchain technology as the storage medium (sortof). You still need somewhere to store the data, but you can put pointers to those storage locations on chain. Web2: Twitter knows the URL to your avatar and decided what it is (usuall…

> Web3: The blockchain knows the URL to your avatar. You decide what it is and nobody can (practically) stop you.

A blockchain knows some URL recorded in the transaction. You have to hope whatever service you want to use cares about that blockchain and the URL actually points to a usable and accessible resource. You can't store the avatar itself without it being stupid expensive so all you've got space for is a URL.

The same exact thing could be done with a regular URL. You point $random_service to your avatar URL or even a vCard and it can access your data. No rainforests need to be burnt down or polar bears need to be drowned.

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

#60

Post by cjbgkagh » Sat, Dec 25, 2021, 6:56 PM UTC

tim333 wrote: post #45

cjbgkagh wrote: post #29

Earlier quoted context omitted.

I’m only a little bit salty. Part of me cannot believe the government (or whatever powers that run this world) allows a deflationary alternative currency to continue to exist. I feel that it’s only allowed to continue in order to build a case for central bank cryptos that can substituted during an inevitable and convenient crisis. Crypto people do not seem to have endeared themselves to regular folk whose assistance…

The whole design of bitcoin was to make it difficult or impossible for governments to stop it existing. If you were the head of some government how would you do that? It's open source software that can be run on pretty much any computer in the world.

I’d do it slowly by tainting certain known addresses, money laundering, tax evasion, terrorism, scams etc. It splits the world into tainted coin and untainted, all regulated exchanges will be unable to accept tainted coin. Then expand what gets tainted to include coin with unknown provenance. Also you can get tainted if you send to a tainted address so you have to be careful who you send it to. Then when the details of who is on both sides of the transaction are known I would tax it. Anyone who doesn’t pay gets tainted.

I would also secretly run tumbling services....

After running a publicly massive campaign against bitcoin et al, I would allow conversion to a fed coin for anyone who can prove the coins were legitimately acquired. The conversion rate would be set favorably to the govt. Anyone who complains gets investigated.