AI, 5G, big data, blockchain…, we are very clear that we are in a brand new technological revolution, but there is always a lack of a target here, showing where the explosion and iteration will eventually lead us.
As a collection of concepts, Web3.0 well handles the relationship between technology and technology, change and change, and the ultimate goal. WebX Lab hopes to establish a systematic knowledge graph for the development of Web3.0 from the perspective of an observer and participant, so that more people can understand Web3.0 in the WebX Lab.
Liu Yi-“The development path of Web3.0 should be assets, identity and data”
How to connect Web3.0 and Web2.0, or where to land, is particularly worth thinking about, especially for entrepreneurs of Web3.0. Web2.0 is the era of platform economy. First of all, we should admit that Web2.0 is extremely successful. Its essence is to solve the trust problem between buyers and sellers. But Web2.0 has two limitations. The first is that it can only solve the quality information asymmetry of interchangeable products or industrial products. A large number of non-interchangeable products and services have not been well resolved by the Web2.0 platform. , Including finance, real estate rental and sale, medical care, education, marriage and love, day labor, etc. These areas are likely to be solved by Web3.0 first. The second is the issue of fairness, that is, the rent-seeking issue of the platform. Once the platform becomes a monopolistic intermediary, it can squeeze profits from buyers and sellers.
Each part of the Web3.0 protocol stack is characterized by a decentralized, point-to-point encryption protocol, which is a trustless transaction or collaboration infrastructure to achieve the purpose of users being able to control their own assets, identities, and data. From this perspective, assets must be the first priority, because asset-related fields are speculative and can attract a large number of funds and personnel to enter. If you start with assets, the next step may be to solve the identity. If you do not solve the identity problem, there is no way to solve the data problem, because there is no way to control your own data without personal identification. So it should be from the timeline of assets, identity and data.
The most likely to be the first to land in all fields is finance, and DeFi can be said to be an experiment in open finance, a prototype that can be discarded, because it is recognized that finance must be compliant and supervisable. Then, the identity problem that Web3.0 needs to solve is to allow every Internet user to grasp and control his own identity. It is not given, but declared. This identity cannot be fraudulently used and cannot be frozen. After these two problems are solved, data is the data. There are two ways to use the value of data: overall use and individual use. The first type is big data. In this process, no one’s privacy is exposed, but the value to the entire society is formed. Data analysis for individuals can be used to provide better personalized services, and can also be used to predict the utility of products and services to individuals. The latter is an infringement of personal privacy. The most common one is the so-called big data crackdown, which should be prohibited by legislation.
Meng Yan-“Web3.0 has five characteristics”
The Web3.0 concept advocated by Dr. Gavin Wood has many different names, such as the Internet of Value and the Open Web. I prefer to call it the decentralized Internet because this word more accurately summarizes its essence or key features. I think Web3.0 is a new Internet platform, a new computing paradigm. In a sense, it is a return to the original intention of the Internet. The decentralized Internet must be similar to our current Internet, from hardware to software, to network services, to network protocols, to value layer protocols, to the application layer, a multi-level integrated system, we call it the technology stack ( Stack). Blockchain spans many different levels in this system, playing a core role in the storage layer, computing layer, and value incentive layer. Therefore, the blockchain is a core infrastructure for Web3.0 and a real Game Changer.
Although it is not yet time to summarize the essence of Web3.0, I would like to point out five characteristics of Web3.0:
- Unbinding and separation of computing and specific computing equipment: Web3.0 constitutes a new computing paradigm, computing and storage behavior will not be due to specific equipment problems, this computing and service will be shut down.
- Realization of identity authentication and data confirmation based on cryptography technology: different from the traditional Internet based on centralized institutions and databases for authorization and authentication. Identity is bound to become a sovereign asset. This identity does not matter whether it is the identity of a person, but also includes the identity of terminals such as machines in Web3.0.
- Data recording and storage are done in a non-tamperable way: In Web3.0, data storage tends to never be deleted or modified, but to accumulate data, but the premise of this model is that the storage cost is extremely low and the scale great.
- Resource allocation is carried out through a token-based market mechanism: different from the previous centralized authorization deployment method, both parties optimize the allocation of resources through token transactions.
- Decentralization and transparency in equity distribution.
These are the main characteristics that Web3.0 can present at present, but this concept or industry is constantly enriched, and we may see a new definition in the future.
