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Crypto Comics – What is Web3

I tried to explain what Web3 is in comic strips.

TL;DR

I explained what Web3 is and how Web3 works.

Some Takeaway

Web3 is an idea that the website can run on a peer-to-peer platform to control their own data. Web1 is a website for reading only. Web2 is a website that people can join to create content. Web3 can not only include features of Web1 and Web2, but it can also provide a capability to own data. But what does that mean to own your data? Does that mean you run your own website and maintain it by yourself? Technically, you cannot possess your own data unless you have possessed the ability to run your data center to store them. Blockchain only publishes data in the open-source platform for everyone to use.    

Controversial of Web3

There is much hype in Web3 over-promised future of such technology. Mainly the hype is focusing on financial incentives rather than social benefits. However, Web3 is a blockchain way to provide an ideal flat service to all participants. It makes a connection with cryptocurrencies and offers more transparency and accurate information through validating processes in the blockchain. It builds up a harder to manipulate and control data technology but also more challenging for people to adopt. Every participant will bear their own risks from hackers’ attacks and bring a secure network with the precautionary mindset to prevent digital assets from being scammed away.

Why Web3

Web2 has done damage to people. Corporations control data and sell privacy information without users’ consent. Their algorithm constantly analyzes users to maximize their profits while neglecting the negative impact for every user. Users are worried about their privacy and angry about their privacy being sold for profits. Web3 becomes one of the alternatives to give back power to users.   

Decentralization vs. Centralization

Web3 promotes decentralization which ideally gives people the power to anticipate the open-source economy. Unlike centralization which limits certain people’s access to the economy and they lose the opportunity to earn, decentralization makes opportunities open to everyone. 

What Can Web3 Do

Web3 will not make you rich overnight. It is one of the viable solutions to resolve current issues created from Web2. Data will be broadcasted in the public for everyone to verify as a way to transparently expose data usage. DeFi, NFTs, DAOs, and many other crypto projects will integrate into Web3 and help the ecosystem to grow.  

Web3 Baby Step

Currently, we are at the stage where Web3 seems like a scam, and overpromising products may fail to deliver to users. It does not mean Web3 is not a solution for the future. Continuing to evolve in the Web3 ecosystem will help develop more projects. Mainly, Web3 will focus more on public good rather than private profiting. That is why Web3 may grow slower than Web2 did.  

In conclusion

Web3 is one of the future solutions to problems Web2 created. We are at the beginning of Web3 development, and more projects focused on public goods will come.

Check out my other article

Crypto Comics – What is Fork

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