For the Blockchain field, 2020 is definitely an epoch-making year. The explosion of DeFi has made more and more people pay attention to the concept of decentralization, which will also be the next frontier in the network. This movement of network decentralization is Web3.0. As we all know, our Internet has gone through the Web1.0 era and the Web2.0 era. Web1.0 is the original Internet, which is only a web network, and Web2.0 has evolved into a social network, and users have begun to generate through social media. Your own content, and for the upcoming Web3.0 era, what does Web3.0 have to do with the blockchain? What does blockchain Web3.0 mean? Let’s let the editor of Chainpedia answer it for you.
What does blockchain Web3.0 mean?
Web 3.0 proposes a decentralized alternative, based on a peer-to-peer model. In fact, if you know how to download illegal movies, you may already be familiar with this mode. Compared to the Netflix streaming movie uploading content to the AWS server, you will download files directly from other computers on the network. In the process, you may connect to 100 different “peer-to-peer” computers, and each computer will send you data. Even if several of them are offline, you can still download data from other online peers.
In the decentralized network, this direct peer-to-peer network principle is applied to websites and network applications. As a user, you will receive a copy of the website you visit, and then disseminate the copy to other users who visit the same website as you, and these users then disseminate the website to others. In this peer-to-peer model, the more people who visit the website, the greater the ability to serve new users, reducing reliance on a small number of centralized players.
The decentralized model can be applied to any part of the network ecosystem, including virtual hosting, storage, domain name system, applications, and search functions. For example, decentralized storage has been the top priority in the encryption field for a long time. Known players include MaidSafeCoin and Storj. The idea is that the way users store data is the same as using Dropbox or Google Drive today, but there is actually a distributed network on the backend where the data is stored. The interesting thing is that anyone can become a storage provider and contribute storage space to the network.
In this case, it will be much more difficult for any centralized organization to block or control the flow of information on the Internet. And any agent that wants to mine and analyze user data will no longer have a single source for mining, but will need to retrieve data from potentially millions of storage locations – and filter them one by one through IP packets.
With this, web 3.0 has changed the imbalance of power caused by the current centralized network, and put the power of information release back into the hands of individuals. And this is the original idea of ​​the Internet pioneers.
Blockchain brings a new economic model to Web3.0. Companies that no longer have centralized servers (such as Google, Facebook, Tencent, Amazon, Ali, etc.) have huge wealth. Through the token, the blockchain gives value to the network itself and the community members connected to the network.
If you develop a DAPP, publish valuable content on the network, or contribute to the network, you will have more tokens, and you will have more wealth.
What are the benefits of web 3.0?
First of all, a network is composed of many independent nodes. Even if one or two of the nodes are compromised by hackers, there are thousands of nodes that store safe and effective data. Even if a node fails, the blockchain network can still operate normally.
Secondly, the decentralized network completely eliminates the middleman, no need to trust any company, no need to trust any third party, the code is the law. Just believe in the mathematics and calculation principles of blockchain construction.
Third, the consensus mechanism of the blockchain does not require a centralized authority to make decisions. All nodes that save data in the network are driven by incentives and come together to make a joint decision: what state the database should be in and what transactions should be accepted , And what matters are rejected. This determines the authenticity of the blockchain database.
Fourth, the blockchain has brought a new economic model to Web3.0. Companies that no longer have centralized servers (such as Google, Facebook, Tencent, Amazon, Ali, etc.) have huge wealth. Through the token, the blockchain gives value to the network itself and the community members connected to the network.
If you develop a DAPP, publish valuable content on the network, or contribute to the network, you will have more tokens, and you will have more wealth.
Fifth, there is no need to store large amounts of data on servers in the future. It will be easier and cheaper to deploy new servers. Servers will blossom everywhere!
To sum up, this is the answer of the editor of Chainpedia to the question of what does blockchain Web3.0 mean. I hope it can help investors. The editor of Chainpedia would like to remind investors that at present, blockchain technology still has many shortcomings, mainly in scalability, interoperability, and overall applicability. Therefore, it is still not available on the blockchain network. Running some relatively large DApps is like when people were still in the Web1.0 era, when people could only browse text pictures but not videos. However, technology will always develop. The editor of Chainpedia believes that over time, technology will slowly develop according to people’s needs, and the current deficiencies will eventually become history.
