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Creating the web we deserve: The case for Web3

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There is absolutely no doubt that the web has transformed just how we live and work. It has made communication and collaboration easier than previously. However, there exists a downside to the increased connectedness.

The centralized nature of the web means that several large companies control the majority of what we see and do online. This concentration of power has resulted in concerns about data privacy, censorship, along with other abuses of power.

It really is becoming clear that the prior, and even current, iteration of the web will not represent what the internet is truly designed for. To comprehend this as well as the promise that Web3 holds, we shall go over the annals of the web and how it has changed as time passes.

The existing internet

The web once we know it really is largely something of the 1990s. This is the decade when commercial usage of the internet became popular, and companies like AOL and Netscape became household names. The net browser was invented, and HTML became the typical markup language for creating webpages.

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The 1990s were also the decade once the INTERNET Consortium (W3C) was founded. The W3C can be an organization that sets standards for the way the web should work. Its best-known standards include HTML, CSS, and XML.

The late 1990s and early 2000s saw the rise of engines like google and Yahoo! These businesses built their businesses by indexing websites and making them no problem finding via search keywords. Googles founders Larry Page and Sergey Brin also developed the PageRank algorithm, which ranks websites predicated on their popularity.

The centralization of information and the gatekeepers of the web

The internet search engine boom of the late 1990s and early 2000s resulted in the centralization of information on the web. Several large companies found dominate the marketplace, and they continue steadily to achieve this today.

These businesses are referred to as the gatekeepers of the web. They control what users see if they go online, plus they have a substantial impact on just how businesses operate. The issue with this particular concentration of power is that it could be abused.

The gatekeepers can censor content, restrict usage of information, and collect data about users without their consent. Several cases of abuse have already been documented recently. In 2018, for instance, Facebook was embroiled in a scandal on the misuse of user data.

Though arguments tend to be made concerning the necessity of the centralization of information, it is becoming increasingly clear that model isn’t sustainable in the long run. The web was made to be considered a decentralized network, and the centralized model goes contrary to the spirit of the net.

Evidence because of this could be traced back again to the first days of the web. The initial iteration of the web was referred to as ARPANET, also it was made by an arm of the U.S. Defense Department in the 1960s. ARPANET was made to be considered a decentralized network which could continue steadily to function even though elements of it were destroyed.

The next thing of the internets development was the creation of the TCP/IP protocol in the 1970s. This protocol allows computers to talk to each other on the web. It too was made to be decentralized, in order that if one section of the network transpired, the others could still function.

Even heading back to the conceptualization of Charles Babbages Analytical Engine in the 1800s, it really is clear that the decentralization of information was always regarded as a key advantage of computing. It really is only recently that the web is becoming more centralized.

The rise of cryptocurrencies

In 2009, an individual (or group) referred to as Satoshi Nakamoto released a white paper entitled Bitcoin: A Peer-to-Peer Electronic Cash System. This paper proposed a fresh way of online to receive and send payments with no need for a central authority.

Bitcoin is really a decentralized network that uses cryptography to secure its transactions. Additionally it is the first & most well-known cryptocurrency. Since its launch, Bitcoin has been useful for a number of purposes, both legal and illegal. It has additionally been praised and criticized by people across the world.

The Ethereum blockchain is another popular platform for launching cryptocurrencies. Ethereum was established in 2015, and contains since end up being the second-largest blockchain when it comes to market capitalization.

Ethereum differs from Bitcoin for the reason that it allows developers to create decentralized applications (dapps) on its platform. These dapps may be used for various purposes, from financial services to social media.

The rise of cryptocurrencies has resulted in the development of a fresh kind of internet, referred to as Web3. Web3 is really a decentralized network that’s not controlled by any central authority.

Instead, Web3 is powered by way of a network of computers all over the world which are running blockchain software powered by Ethereum and many other platforms. This software allows users to connect to each other with no need for a middleman.

Web3 gets the potential to revolutionize just how we make an online search. However, it really is still in its first stages, also it remains to be observed whether it will surpass its promise.

How Web3 can make the web we deserve

There are many ways Web3 can make the web we deserve for instance, enabling greener technology, fairer decentralized finance and economics, true censorship resistance and privacy-respecting alternatives to existing centralized social media marketing platforms.

These use cases for Web3 are complex and deserve their very own dedicated articles (which we are sure to create and connect to later on), but lets touch on each one of these briefly below.

Enabling greener technology

The existing internet is founded on a centralized model that’s not very energy conserving. The info centers that power the web use a large amount of electricity, which electricity often originates from dirty energy sources like coal.

Web3 can help develop a more sustainable internet by to be able to run data centers around renewable energy sources or abandon the thought of data centers altogether by giving an improved infrastructure for edge computing. The closer your details would be to you, the higher it really is for the surroundings.

Fairer decentralized finance and economics

The existing economic climate is controlled by central authorities, such as for example banks and governments. This technique isn’t very accessible to everyone, also it often benefits the wealthy a lot more than the indegent.

Web3 can make a far more equitable economic climate by to be able to launch decentralized applications (dapps) offering financial services to a person with an web connection. For example, you can find already dapps that allow users to borrow and lend money with no need for a bank.

True censorship resistance

The existing internet is censored in lots of parts of the planet. For instance, China includes a strict censorship regime that blocks usage of many websites, including Google, Meta (Facebook), and Twitter.

Web3 might help develop a truly censorship-resistant internet by to be able to launch decentralized applications that can’t be blocked by censors. For instance, you can find already dapps that allow users to gain access to the internet with no need for VPN.

Algorithmic responsibility can be an area current social media marketing platforms have neglected. By keeping social media marketing centralized, there is absolutely no way for the common user to learn what lies behind the algorithms that run these platforms. These algorithms often know what content is promoted and what content is buried.

As a matter of known fact, studies show that the more extreme and polarizing this content, the bigger the weight the algorithms put on it that may have a harmful influence on society by promoting division rather than understanding. While there are a few ongoing experiments with decentralized alternatives to these algorithms, it really is still in its start.

Decentralized social media marketing would be a lot more transparent, and users can understand and change the algorithms should they so choose. Furthermore, decentralized social media marketing would give users the opportunity to own their data a thing that isn’t possible on current centralized platforms.

Web3: Creating the web we deserve

So tying back again to the issues weve mentioned what would a perfect internet appear to be? Do you know the parameters define it? We think a perfect internet must have the next properties:

  • It must be accessible to everyone.
  • It must be energy conserving.
  • It must be censorship resistant.
  • It will respect user privacy.
  • It will promote algorithmic responsibility.

These parameters are achievable with the promises of Web3 technologies. In the coming article series, we shall delve deeper into what factors have resulted in Web2 learning to be a pandoras box of problems, and the way the next iteration of the web could have the potential to show the internet in to the platform we deserve one which is sustainable, equitable, and empowering.

Daniel Saito is CEO and cofounder of StrongNode.

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