Why decentralization isn’t the ultimate goal of Web3
Decentralization of Web3 infrastructure is critical to its success as it gives us back the freedom that we are currently paying for using Web2. The transition from Web2 to Web3 is inevitable. Yet, as the demand for decentralization gains momentum, several important questions are being raised about the current state of blockchain technology and its promised “decentralization.”Vitalik Buterin responded with a confession that “a lot of it comes down to limited technical resources and funding. It’s easier to build things the lazy centralized way, and it takes serious effort to ‘do it right.’”....
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Cointelegraph’s editor-in-chief Kristina Cornèr moderated a panel that discussed what decentralization brings to Web3 at DeData 2022. With the convenience of centralization seemingly threatening the original crypto vision, decentralization will still help escape a potential dystopian future, according to a panel discussion at the DeData Salon 2022 conference held in Berlin, Germany. Cointelegraph’s editor-in-chief Kristina Cornèr moderated a panel discussion dubbed “Shaping The Next Economic Era With Web3 Technology.” Panelists included Paul Claudius, the co-founder of DIA; Hoon Kim, the....
Polarization in public discourse is increasing, and to stop it, the world desperately needs the next generation of the internet: a decentralized Web3. Recent geopolitical events have polarized the world. Partisanship and the ideological divide have further balkanized the internet, whose gatekeepers have trampled upon the rights of millions to access financial services. Nations are gradually waking up to the reality of having neutral protocols and national stacks. Hailed as the next generation of the internet, Web3 will be sanction-resistant and free of data silos. Gavin Wood, co-founder of....
Decentralized autonomous organizations are a central function of interaction across the Web3 space, where creators are earning more than ever before. What we call Web3 will be centered on an ecosystem of technology products that are decentralized, based on blockchain networks, interoperable, and without a traditional trusted validator (such as corporations, institutions and government bodies). But exactly what does this mean? What is Web3?Web3, a term coined by Gavin Wood, Web3 Foundation president, is the next phase of the internet and, perhaps, of organizing society as a whole. Web1 was....
NFT Steez chats with Web3 advocate Julie Plavnik to discuss the concepts of self-sovereignty and digital identity in Web3-based creator economies. On Oct. 28, NFT Steez, a bi-weekly Twitter Spaces hosted by Alyssa Expósito and Ray Salmond, met with Web3 content writer, Julie Plavnik to discuss the importance of self-sovereignty while building a digital identity in Web3. Plavnik references author Gavin Wood when describing Web3 and says that “communication” is a core tenant in the subsequent iteration of the internet. “Web3 is the communication of encrypted channels between decentralized....
The layer-2 scaling solution continues its focus shift to Web3, a broad concept that refers to the blockchain-powered internet. Ethereum scaling solution Polygon has launched a new network for Web3 development, pledging $100 million to early users who can help fast-track adoption. The Polygon Supernet chain gives developers the ability to build their projects in a customizable environment without hosting or operational costs, the company announced Friday. Developers will be able to deploy their projects on either a Supernet Sovereign Chain or Supernet Shared Security Chain — the former is....