Author: LinglingXiang
In 2022, Web 3.0 will be everywhere. When you say web3, I say web3, and Musk says, "Has anyone really seen Web3?" CoinDeskChinese Explainer takes you to see the world of Web3.0 in your daily life in this issue.
Web3.0, the next generation Internet based on blockchain technology, "can read, write and own", contains a series of concepts in cryptocurrency and decentralization fields, such as blockchain, the technical cornerstone of the realization of Web3.0; For example, DeFi decentralized finance; Another example is NFT, an identity recognition of Web3.0; There is also DAO, which exists in the organizational form of Web3.0, and the "currency" of Web3.0 - token.
With the world's largest capital and Internet giants competing for entry, Web3.0 has become an important innovation ecosystem and track. At present, world-class giants have also been born, such as Binance Coin, which was founded in 2017. It ranks sixth in the world after byte beating and other companies. Other tracks include Web3.0 social networking, games, wallets, public chains, NFT and DeFi. Players in traditional fields are also trying to enter web3. Taking the NBA as an example, Top Shot is its first video NFT project. This video is called "Moment". LeBron James' dunk moment is an NFT, which is very similar to the basketball cards we collected when we were young. Is there any? Nike and Adidas have also launched their own sports shoes NFT, which are sold together with offline physical shoes. Adidas has sold NFT shoes worth 23 million dollars in less than a day.
What changes will this bring to the lives of ordinary people? In general, our identity, network ownership, social forms, games and entertainment, and economic life may change.
The first is the change of identity and ownership. The landing page of Web3.0 may require you to connect to the wallet address of Ethereum or other blockchain networks. You can log in to all websites with only one identity. For example, you can use the Ethereum domain name service ENS to purchase a unique domain name as your identity. NBA star Shaquille O'Neal changed his Twitter user name to shaq.eth last year. Xiaobian can also be fashionable and use lingling.eth as my Web3.0 identity. In web2.0, users have to rely on Internet giants such as Facebook and Google to store and manage their own data. In Web3.0, when non homogenous token NFT becomes your unique social identity authentication method, no company can use your data without your authorization. You can also choose whether to sell your data to advertising companies or brand companies for profit.
Second, the arrival of decentralized social networking. At present, our Internet platform can restrict or freeze your account at will. On the platform with Web3.0 features, you can "fly yourself" to socialize. Recently, due to the acquisition of Twitter by Mask, a large number of Twitter users have flocked to a niche social media platform, Mastodon Mammoth. Its usage is no different from Twitter and Weibo. Twitter is called tweet, in the case of Mammoth, it is called toot toot, and its messages are called "Duwen". However, the mammoth uses a new computer and network communication protocol, which is fundamentally different from Facebook and Twitter in technology. It is a semi decentralized system, not controlled by any entity, and has no server in the official sense. Anyone can operate their own mammoth server, and can also interact across servers, without advertising. At present, the mammoth has attracted a large number of blockchain enthusiasts, and even attracted Musk's attention. He opened a boring colored joke: if you don't like Twitter, there is a great website called masterbatedone.
Third, Web3.0 implements decentralized content creation. Because of blockchain technology, the creators of Web3 do not have to rely too much on the platform. They not only own works, but also the platform itself. For example, on OnlyFans, Twitch and other platforms with Web3.0 features, users can freely and directly make money from fans, rather than relying on the profit model of advertising and traffic realization. Web3 blog website Mirror allows users to sell their works as NFT. Its crowdfunding function allows sponsors to deposit ETH Ether to sponsor an idea in exchange for a token representing the sponsorship certificate. If the works are published, everyone can benefit from it.
Fourth, Web3.0 has brought about innovation in entertainment. The most potential is decentralized games, such as the x-to-ear model explained by CoinDeskChinese interpreter before. Players will no longer play traditional games with money as members, and then simply upgrade to beat the odds. Instead, they can make profits in the game, Various props and data have become real assets in the hands of players in Web3, with the value of collection and transaction.
Fifth, Web3.0 has realized the token economy, making all valuable things in the real world, such as a music, a book, a house and even a Twitter, digital and token oriented. The decentralized financial DeFi is the general name of various cryptocurrency or blockchain financial applications. According to Amberdata Research, as of April 2022, the total amount of operation in DeFi is 239 billion US dollars, an increase of 40000% over the beginning of 2020. With the advent of Web3.0, people's monotonous single currency savings account will become an eclectic and colorful blockchain based portfolio.
Finally, what is the most intuitive feeling that Web3.0 gives you? It is the interconnection of all things, the realization of AR/VR/AI technology, and the immediate vision of the meta universe. For example, the smart refrigerators and smart TVs in our daily life can be connected to the Internet and form a connected network. Artificial intelligence and machine learning will provide us with a more personalized user experience.
Web3.0 seems to have a profound impact on you and me, but some people think that it is a false concept and cannot be really implemented. Jack Dorsey, the founder of Twitter, said that you can't own "Web3". VCs and their partners have it. It is still a centralized entity in the end. Indeed, at present, Web3.0 is still not fully decentralized, and the technology obviously cannot meet the requirements of perfect implementation of Web3.0.
Is decentralization a world on the other side or a landscape on the other side? Can we finally realize the proposition of decentralization? In my opinion, there is no clear answer. However, I am working hard towards the limitless approaching ideal of Web3.0 with a bright heart. No matter what technology or concept, I can keep going.
