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What the hell is Web3 anyway?

Published 01/31/2022, 10:58 AM
Updated 02/02/2022, 08:20 AM
What the hell is Web3 anyway?
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Web3 or Web 3.0 as crypto boomers like to call it is a topical buzzword with only a very vague definition. Everyone agrees it has something to do with a blockchain-based evolution of the internet but, beyond that, what is it really?

Yet, the conversation surrounding the meaning and prospects for Web3 has become very fashionable in crypto communities. The term gets thrown about by big corporates trying to muscle in on the space while avoiding the negative connotations of crypto.

Highly critical

Web3 history is driven by the disappointment of Web2

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Web3 starts with decentralized data storage

Even by 2019, Web3 was being built at breakneck speed. (Source: https://multicoin.capital/2019/12/13/the-web3-stack-2019-edition/)

Empowering users to control their own data

More like Web2.5?

Whose data is it anyway?

Aleph.im is a middleware blockchain agnostic play. (Source: Image: https://aleph.im/#/)

Will tokenomics help Web3 adoption?

Key management is a problem for both Web3 purists and mass consumer adoption

Private key meme. (Source: https://memegenerator.net/instance/62834627/yoda-a-private-key-you-have-mhm)

Is 2022 the year of Web3?

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