Web3 has become a new vision of the Internet. Some people may wonder what era we are actually in: Web2 or Web3. This is like a car driving through a tunnel, with Web2 in the rear and Web3 in the front. And, this tunnel is like an inevitable period of transition between the two.

What Does Web3 Pursue?

The emergence of Web3 has come out of the public's desire for privacy protection and information asset ownership confirmation. Therefore, a decentralized network environment is needed to get rid of tech giants' monopoly on information and return the value of information to individuals. Why does it have to be decentralized? This needs to be explained by looking back at the history of the web.

Interpreting Web3 Through the History of Web









Web1.0: Read only — Decentralized

In 1989, Tim Berners Lee created the World Wide Web (WWW), now generally known as Web1.0. His idea was to create open and decentralized protocols that would allow information to be shared anywhere on the planet. So Web1 possessed three major characteristics: open source, decentralized, and read-only mode.

Web2.0: Read, Write — Centralized

As Web1.0 already achieved decentralization, why has Web2.0 ushered in an era of centralization?

All these changes took place around 2005. The emergence of various forms of social media forced companies to cease providing content to users. Instead, they turned to provide platforms for users to create content, interact with others and disseminate content. The Internet changed from Web1.0's Read Only to Web2.0's Read and Write. The invention of smartphones and other mobile devices has accelerated Web2.0. Users can work, entertain, make social contact, do shopping, create and experience other routing functions through apps anywhere and anytime. Thus a few giant companies start to control a huge amount of the traffic and valuable information and win considerable benefit from advertising. However, the contents created by users on platforms do not belong to them, nor can users profit from the information.

Web3.0: Read, Write, Own — Decentralized

What Is Web3?

In the new Web3.0 era which is expected to be capable of Read, Write and Own, blockchain technology and blockchain decentralized characteristics will be used to solve the problem of information ownership and return the value of information to the public. Web1.0 and Web2.0 are both striving to transmit information, while Web3.0 will promote the natural flow of information value.

Core Features of Web3

1. Decentralization: The history of Web1.0 going for decentralization, Web2.0 pursuing centralization and Web3.0 returning to decentralization again have proven the necessity of decentralization. In an Internet that is free of centralized information control, the ownership of Web3 builders and users will be allocated again.

2. Permissionless: Independent individuals have equal opportunities to participate in Web3.

3. Cryptocurrency-enabled: Cryptocurrency usage is a key feature of Web 3.0 services and there is no need to rely on a third party.

4. Trustless: An incentive mechanism is adopted to complete sustainable operations, and third parties are no longer depended on.

What are the Architectures of Web 3.0?

In a broad sense, an upgraded version of decentralized Web3.0 is by society. This requires a change of Web infrastructure. Web3.0 is mainly divided into a protocol layer, an infrastructure layer, an application layer, and an access layer.

Protocol Layer

· L1: ETH, SOL, AVAX, Cosmos

· Bridge: Synapse, ANY, Hop

Infrastructure Layer

· Audit: OpenZeppelin, Certik

· Storage: AR, FIL, DMC, Ipfs

· Communication: XNTP, Matrix, Swarm

· Analysis: Dune, Chainalysis, Covalent

· Governance: Tally, Snapshot, Sybit, etc.

· Identity: ENS, Spruce, Unstoppable

· Finance: CRV, AAVE, LDO, etc.

· Application Layer

· Games: IVL, AXS, MANA

· Content/social networking: Rally, Mirror, Context

· NFT: Opensea, RARI, Mintbase

· Financial services: UNI, Matcha

Access Layer

· Wallets: Metamask, Phantom, Rainbow, etc.

· Aggregators: Dappradar, Zapper, Zerion, etc.

· Web2: Discord, Reddit, Twitter

Google has completed the evolution from Web1.0 to Web2.0. Currently, Google, and Twitter, which appeared in Web2.0, are both studying the development and upgrading of Web3.0. As old projects are being upgraded, there will also be new forces rising up and standing out. In this respect, the new storage project DMC in the essential infrastructure layer is worth much mentioning. DMC, a storage project that meets the four core features of Web3.0, needs only one computer to offer decentralized storage services free of encryption worries. The core advantage of DMC lies in its "matching list", also known as the consensus list, where the reasonable transaction matching will be done between trading parties in accordance with smart contracts, thus ensuring the fairness of the market and the rationality of prices. The consensus mechanism of DMC is based on the CYFS Protocol, which includes a set of OOD addressing-based decentralized storage delivery agreements and solves the major problem of delays in DHT-based decentralized storage systems. It fundamentally realizes decentralization for DMC storage and keeps Web3.0 take the lead in the race.

What Are the Threats to Web3.0?

Legal supervision is certainly a major difficult issue facing Web3.0. No requirement of license and decentralization causes the possibility of potential cybercrimes, and makes regulation more difficult.

Future Decentralization Expectations of Web3.0

The Web3.0 ecosystem is in need of improvement. It takes time to make comprehensive improvements through centralized infrastructure. We are now in the initial stage of Web 3.0 building, and breakthroughs at any level are possible.