Why Web3?
avc.com
Why Web3?
1–10 of 706 posts
Re: Why Web3?
#2The author struggles to make the point that Web3 has value. Isn't "another opportunity for grift" a source of value for grifters?
Re: Why Web3?
#3One thing that is confusing most loud supporters of Web3 are VCs and yet:
"It all comes down to the database that sits behind an application. If that database is controlled by a single entity (think company, think big tech), then enormous market power accrues to the owner/administrator of that database.
If, on the other hand, the database is an open public database that is not controlled and administered by a single company, but instead is a truly open system available to all, then that kind of market power cannot be built up around a data asset" So why are they flowing billions of dollars into this ? If there is no locking what will create outsized returns for them?
Re: Why Web3?
#4One thing that is confusing most loud supporters of Web3 are VCs and yet: "It all comes down to the database that sits behind an application. If that database is controlled by a single entity (think company, think big tech), then enormous market power accrues to the owner/administrator of that database. If, on the other hand, the database is an open public database that is not controlled and administered by a single…
The locking is in the company that controls the spec of the protocol and its reference implementation. It’s always been about getting as many people onboard as possible, this time the bait is decentralisation.
Re: Why Web3?
#5One thing that is confusing most loud supporters of Web3 are VCs and yet: "It all comes down to the database that sits behind an application. If that database is controlled by a single entity (think company, think big tech), then enormous market power accrues to the owner/administrator of that database. If, on the other hand, the database is an open public database that is not controlled and administered by a single…
Because coins are not regulated like stock. An IPO is not something you can do anyway you want.
Re: Why Web3?
#6This reads like an obligatory post on the topic with no real substance. I’m on mobile so it’s a good opportunity to succinctly express what I view as the major, near-future positives for Web3:
- identity and trustless SSO via things like ENS and “sign in with {client such as metamask}”
- data sovereignty, or at least less platform lock-in, especially for low/no code users
- grants, crowdfunding, and other financial support for useful open-source projects. This may be the most provably successful outcome to date in Web3; I’m confident I could cite enough sources here with a little homework.
I encourage all readers to disassociate (or rather decouple) the terms “cryptocurrency” and “NFT” from Web3. Web3, while still fairly nebulous, in my current understanding, is mostly protocol-level implementations of web paradigms incorporating decentralized technologies. Like any growing technology, there will be many variations, and the unscrupulous outliers should not overshadow the constellation of fascinating things humanity can speedrun with these new building blocks.
Re: Why Web3?
#7I think it's really easy to be doubtful about web3, especially given how much BS is floating in the space, and the high amount of pure speculative trades having been made so far.
I still believe that there's something there, but I'm not sure what it is. I am also unsure that the current wave of companies will be able to find it.
The different between the early adoption of web2 and this current web3 cycle is that web2 brought a proper value to its users. I still fail to see how web3 is providing value at all.
Perhaps specific aspects of crypto (e.g. NFT used for real estate transactions) will be the killer app?
Re: Why Web3?
#8One thing that is confusing most loud supporters of Web3 are VCs and yet: "It all comes down to the database that sits behind an application. If that database is controlled by a single entity (think company, think big tech), then enormous market power accrues to the owner/administrator of that database. If, on the other hand, the database is an open public database that is not controlled and administered by a single…
Wouldn’t an open database lead to loads of ACID issues or is the point of blockchain to prevent that
Re: Why Web3?
#9Web3 doesn't mean anything, it's just the adopted jargon of a couple of groups with different visions for what it means.
I fear more posts relating to said nonsense will only legitimize those topics in the eyes of the uninformed.
Re: Why Web3?
#10This article is filled with absolutely 0 reasons why Web 3.0 should be taken seriously.
All it says is: Web 3.0 matters because I say so. And we will prove it,
Yes.. and?