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What Is Web3? Should You Care?

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Re: What Is Web3? Should You Care?

#31

Post by hihihihi1234 »

noman-land wrote: post #17
hihihihi1234 wrote: post #8

Earlier quoted context omitted.

What problem does this solve? What's wrong with the way I currently do "identity management"?

It solves a few problems as mentioned below. Every single form of your identity right now is mediated by a third party. Your email. Your Instagram. Your Twitter. Your phone number. Your bank account. Not only that, but each one is independent of the other. That's 5 different accounts with 5 different providers. Each of them has a vast infrastructure and duplicate copy of everything about you and everything about ever…

So in this brave new world, if someone manages to steal a single piece of my data (my private key) then they can have unfettered access to my phone, bank, email and social media accounts? And none of those services have a customer support team who can restore my access and reverse the fraudulent transactions that were made in my name?

Re: What Is Web3? Should You Care?

#32

Post by clippablematt »

md_ wrote: post #30
dropnerd wrote: post #5

you can lose half of your logins (oauth) if faang's algorithm don't like you. decentralized identities fix this for free (no-onchain transactions required)

Indeed, but I do wonder whether most users need a single global identity anyway. FIDO keys or—gasp—passwords-per-site seem to solve the real problem most users have (which is, you know, maintaining logins). I do think if there were strong user demand for a unified web identity (beyond email identifiers, which aren’t obviously improved by blockchain), we’d see more adoption of OIDC, including offered by IdPs who only…

I’ve shown rainbow to a few of my friends. Shown them how to log into a site by scanning the wallet connect code and all their data moves with them and their wallet. From my experience they all really like it and prefer it to passwords and password managers. Add to this everyone getting used to scanning QR codes during COVID and suddenly what was seen as a big point of friction in ux isn’t such a big deal anymore. Give it a couple years for more social-recovery wallets to be developed and we’re good.

I’m really happy that alternatives to passwords/login with facebook/emails are taking off. Good to have options. There was a while there where sites only had a google log in and it was painful.

Re: What Is Web3? Should You Care?

#33

Post by guilhas »

8note wrote: post #28
guilhas wrote: post #9

Earlier quoted context omitted.

Just being completely random imagine the internet is now the multiverse. And everything publish on it is an NFT, posts, videos, images, comments. Like the current internet but everything has a value. Creating a comment on StackOverflow could get you paid instead of just reputation The NFT concept seems stupid at first, and a 60 million NFT is definitely stupid. But imagine Youtube is the metaverse where videos, or NF…

What's in it for YouTube in this? It operates quite profitably without using blockchain to track ownership of videos and copyrights and who to send ad money to

I was just making an example that like an YT video, an NFT has value for content creators and can be the future of internet

Couldn't care less what happens to YouTube, hope something better comes along

The trend with this blockchain technologies is that single companies will have less power and control so they probably won't like it much, or will look for workarounds

But whatever happens for web3 probably most will have to adopt or stay behind

Re: What Is Web3? Should You Care?

#34

Post by clippablematt »

iudqnolq wrote: post #19
guilhas wrote: post #9

Earlier quoted context omitted.

Just being completely random imagine the internet is now the multiverse. And everything publish on it is an NFT, posts, videos, images, comments. Like the current internet but everything has a value. Creating a comment on StackOverflow could get you paid instead of just reputation The NFT concept seems stupid at first, and a 60 million NFT is definitely stupid. But imagine Youtube is the metaverse where videos, or NF…

Just ask: How much money do you expect to get? Who currently has that money? Why would they give it to you?

1) more than I get now

2) ceo of Spotify is worth estimated $5billion maybe start there, shouldn’t that (be it money or ownership in Spotify) be going to the musicians who actually make the content and who get fractions of pennies?

3) they probably don’t want to. But we can just build systems that replace them. It seems to be working so far.

Re: What Is Web3? Should You Care?

#35

Post by md_ »

clippablematt wrote: post #32
md_ wrote: post #30

Earlier quoted context omitted.

Indeed, but I do wonder whether most users need a single global identity anyway. FIDO keys or—gasp—passwords-per-site seem to solve the real problem most users have (which is, you know, maintaining logins). I do think if there were strong user demand for a unified web identity (beyond email identifiers, which aren’t obviously improved by blockchain), we’d see more adoption of OIDC, including offered by IdPs who only…

I’ve shown rainbow to a few of my friends. Shown them how to log into a site by scanning the wallet connect code and all their data moves with them and their wallet. From my experience they all really like it and prefer it to passwords and password managers. Add to this everyone getting used to scanning QR codes during COVID and suddenly what was seen as a big point of friction in ux isn’t such a big deal anymore. Gi…

How is it different than WebAuthn+FIDO2?

Re: What Is Web3? Should You Care?

#36

Post by netizen-936824 »

guilhas wrote: post #9
jwilber wrote: post #6

Earlier quoted context omitted.

Can you describe some of these possible changes?

Just being completely random imagine the internet is now the multiverse. And everything publish on it is an NFT, posts, videos, images, comments. Like the current internet but everything has a value. Creating a comment on StackOverflow could get you paid instead of just reputation The NFT concept seems stupid at first, and a 60 million NFT is definitely stupid. But imagine Youtube is the metaverse where videos, or NF…

I think this is the exact opposite direction I would like to see things go. We need to remove profit incentives to encourage more free thought.

If we have profit incentives in everything, we will see optimization for profits at the expense of everything else, including quality of information.

Re: What Is Web3? Should You Care?

#37

Post by UncleMeat »

guilhas wrote: post #33
8note wrote: post #28

Earlier quoted context omitted.

What's in it for YouTube in this? It operates quite profitably without using blockchain to track ownership of videos and copyrights and who to send ad money to

I was just making an example that like an YT video, an NFT has value for content creators and can be the future of internet Couldn't care less what happens to YouTube, hope something better comes along The trend with this blockchain technologies is that single companies will have less power and control so they probably won't like it much, or will look for workarounds But whatever happens for web3 probably most will h…

But that is the key question. Why would something else come along? You need backend resources for transcoding and serving. You need a search system. You need an ad system. And if you get big you need a copyright management system.

Re: What Is Web3? Should You Care?

#38

Post by butMyside »

0xcoffee wrote: post #4
pketh wrote: post #3

web 1 and 2 promised very little and delivered a lot, web3 looks like the opposite

I feel like web 1 & 2 was really about sharing things. Newsgroups and forums. Then videos and social media. However 'web3' seems the opposite. Decentralization is touted as a feature, because we cannot place our trust in other people. NFT hype is all about 'claiming' ownership over something. Where is the sharing and community? For these reasons I do not think it is something interesting.

Domain squatting, and all the security effort of protecting now worthless code IP, meta data analysis for private use, profit being funneled to fewer and fewer people are all outcomes of web 1 & 2

Take off the rose colored glasses; it’s all been a speculative game. That’s the root node of our economics at this point.

At the end of the day it’s electron state in a box of metal and plastic. It’s been generating “value” for owners distracting people from their lives.

I’ve been online since the 80s; people were complaining about web 1 ruining usenet, irc, and everything else.

Time moves on.

Re: What Is Web3? Should You Care?

#39

Post by erulabs »

8note wrote: post #27
erulabs wrote: post #20

Earlier quoted context omitted.

I mean, I'm far from an NFT buyer or fanboy, but what can smart contracts and distributed trust-less compute do? Supply chain tracking is a fairly perfect match. An example in production usage today is https://simbachain.com/ and https://www.computerworld.com/article/3439843/how-pharma-wil... and a particularly interesting vaccine distribution database from IBM: https://www.ibm.com/blockchain/industries/vaccine-distr…

I'd expect a voting system to be unable to prove that any one voter voted in a certain way. I don't think that requirement is well suited for a blockchain?

There are a couple solutions to this. The simplest one could be for the government to publish a known public-key. Vote-data would be encrypted with the public key which only the election board has the private key to decrypt. This would ensure that no citizen could vote twice, each vote could be tracked to where, when, who, but not _what_, except by the election board.
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