What exactly is Web3?

contact western · Oct 13, 2023

As I was delving deeper into understanding how to protect the security of cryptocurrencies, I stumbled upon Web3. From what I gather, this concept refers to a user-centric and decentralized system based on blockchain technology. If I'm not mistaken, blockchain technology is great for safeguarding the security of cryptocurrencies, and that's something to be happy about. But then I started feeling pretty bummed because I couldn't find any article that clearly explains Web3 technology. So, I wanted to ask if you could tell me how Web3 technology actually achieves the protection of cryptocurrencies or how it can be used. I really appreciate your insight and feedback

MR.Spuf · Oct 13, 2023

Web3 refers more to an aggregate of things, it's not a singular concept, and yes, it has decentralization and crypto included but covers as well other things. It's a concept in development, it can be defined atm

kavo · Oct 13, 2023

Web 1.0 is when you go to reddit, but you cannot post, only read what authorities tell you, as only they have the access to writing anything on the Web.
Web 2.0 is when you go to reddit, but this time you can post and share content with other members. Now you are the content creator, but authorities still can ban you if they don't like you.
Web 3.0 is when you say fuck authorities, we will manage our shit on our own.

To self-manage the 3.0 system, you need to ensure the majority of users (nodes) are inline with what's going on. Blockchain is a good implementation of this concept.
Everything is stored in one format, duplicated to multiple nodes and the transactions in your system should be accepted by the majority, so that no one malicious user could mess with your system.

Blackcurrant · Oct 14, 2023

Web 3 is owing your content. For example, Twitter is not a web 3 platform because when you post, your content can be shadow banned by the admin or even deleted. In web 2 gaming also, your characters can be seized or deleted by the admins.
But in web3, You owns everything you have and your characters in gaming or post on web can be managed by anyone except you. Example of web3 gaming is Bigtime see coingecko :
https://www.coingecko.com/en/coins/big-time .

You can check Bitget Exchange for more information on this gaming coin and how to buy.

1SEOWarrior · Oct 14, 2023

Nice

kavo said:
Web 1.0 is when you go to reddit, but you cannot post, only read what authorities tell you, as only they have the access to writing anything on the Web.
Web 2.0 is when you go to reddit, but this time you can post and share content with other members. Now you are the content creator, but authorities still can ban you if they don't like you.
Web 3.0 is when you say fuck authorities, we will manage our shit on our own.

To self-manage the 3.0 system, you need to ensure the majority of users (nodes) are inline with what's going on. Blockchain is a good implementation of this concept.
Everything is stored in one format, duplicated to multiple nodes and the transactions in your system should be accepted by the majority, so that no one malicious user could mess with your system.

Nice explained.

ProgressNow · Oct 19, 2023

The decentralized financial internet is Web 3.0 is the simplest way to put it.

Gurusocial · Jan 14, 2024

Blackcurrant said:
Web 3 is owing your content. For example, Twitter is not a web 3 platform because when you post, your content can be shadow banned by the admin or even deleted. In web 2 gaming also, your characters can be seized or deleted by the admins.
But in web3, You owns everything you have and your characters in gaming or post on web can be managed by anyone except you. Example of web3 gaming is Bigtime see coingecko :
https://www.coingecko.com/en/coins/big-time .

You can check Bitget Exchange for more information on this gaming coin and how to buy.

Bitget is total scam no dont use it

What exactly is Web3?

contact western

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