Have you ever heard the term "Web3.0"?
It is regarded as the next-generation Web, and it has been rapidly attracting attention in the past 2-3 years. In March 2021, a work using the technology of Web 3.0, a digital artist, was sold for about 7.5 billion yen, which triggered Web 3.0 to rapidly increase its popularity. Since then, various works have been created all over the world, and among Japanese, pixel art for elementary school students has been sold for about 2.4 million yen, and it is spreading in a wide range of ages.
Web 3.0 is attracting attention in this way, but what is Web 3.0 in the first place? This time, I will summarize how the world will change due to the spread of Web 3.0 from the basic part. Please take a look until the end.
First of all, I will introduce the history of the Internet, which is indispensable for talking about Web 3.0.
Web 1.0 refers to the early Internet that was born in the late 1990s.
Compared to the present, the network speed was slower, there was less content like images and videos, and the main thing was to display text-only HTML pages.
Many contents are read-only, and users only browse the page, and there are almost no two-way interactions on the Internet, such as purchasing something, posting content, or interacting.
Web 2.0 is a new form of the Internet that appeared in the 2000s, and the spread of ADSL and optical lines has improved line speed and stability, and it has also become possible for users to create and share content themselves.
Services such as social networks and online communities have become popular, and interaction between users has become more active. In this era, many companies that operate interactive SNS have appeared, and the types and reactions of communication such as "like", "spread", "tagging" and "reaction" have become rich.
However, there is also a concern that it will be centralized for certain companies. The first thing that is the problem with this is that the user's address, age, behaviour history, etc. on the Internet will be known to the company you operate.
In addition, because data is gathered at specific companies, it is easy to become a target such as hacking, and it is also a feature of this era that it is adjacent to the risk of information leakage and system down.
As someone deeply immersed in the world of system development, app development, and digital transformation, I've become increasingly fascinated by the concept of "what is web3". This term, which emerged in the 2010s, signifies a paradigm shift towards a decentralized web, leveraging blockchain technology and virtual currency.
In contrast to the centralized systems predominant in Web 2.0, where users had to entrust their personal information to service providers, Web 3.0 offers a refreshing alternative. The adoption of a decentralized, Peer-to-Peer (P2P) system means that we, as users, can manage our data independently, without relying on a platform operated by a centralized server-managing company. This shift not only reduces the server load but also addresses issues of data breaches and system downtimes inherent in Web 2.0, significantly enhancing privacy and security.
-What is blockchain?
In exploring "what is web3", it's crucial to understand blockchain. This technology strings together blocks of data in a chronological order, making them nearly impossible to falsify. These data blocks, added over time, can be securely shared among various independent entities, forming the backbone of Web 3.0's infrastructure.
-What is P2P?
P2P, short for Peer-to-Peer, is a network communication method where devices connect directly in an egalitarian manner, sharing data and functions. In the context of "what is web3", P2P stands as a cornerstone, facilitating the decentralized ethos of Web 3.0.
-What is virtual currency (crypto asset)?
In my journey to understand "what is web3", I've delved into crypto assets. These are electronic data, functioning like currency but existing solely online. Unlike traditional currencies, they are not issued by states or central banks and don't have a physical form like banknotes or coins. Popular crypto assets like Bitcoin and Ethereum are just the tip of the iceberg, with thousands more in existence.
By the way, virtual currency can be cashed at virtual currency sales offices and virtual currency exchanges.
The growing concern over privacy and the mishandling of information by large corporations have led many, including myself, to be more privacy-conscious. This trend has significantly spurred interest in Web 3.0, as more people seek control over their digital footprints.
As we move from Web 2.0 to Web 3.0, it is expected that the services we are currently using will also change.
The image below is a summary of services with many users.
For example, the top "Brave" is a web browser service released in 2019, which has privacy protection functions such as ad blocking and tracking prevention as standard. In addition, the unique point of utilizing Web 3.0 technology is that by viewing advertisements, you can earn the virtual currency BAT (Basic Attention Token) as a reward, that is, you can earn money by looking at advertisements.
Conventional digital advertising is posted by advertisers paying huge advertising fees to platforms such as Google. In this case, it will catch the user's attention, but there will be no special reward for browsing it. The intermediary of advertisers and users is making money from advertising fees.
However, in Brave's system, advertisers and interested users can directly connect, and users can earn 70% of the advertising fee as a reward (BAT) by watching advertisements. In this case, as an advertiser, there is no intermediary and costs can be reduced, and users can get rewards, so it has become a system that has benefits for both advertisers and users, and its popularity is rapidly rising.
The second "Audius" from the top is a distributed music streaming service released in 2021, also known as Spotify for Web3.0.
Conventional music streaming services such as Spotify are mediated between songs and users by the company that operates the service, and as a user, there is an advantage that you can listen to a lot of music for a flat fee, but there was a problem that the share of the company was large and the dividends to artists were very small.
What appeared here is a distributed music streaming service that utilizes a blockchain like Audius.
By providing works directly on the blockchain, there will be no intermediary companies, and artists and fans can be directly connected. Fans can pay directly to the artists they want to support, and there is a benefit that artists can receive more rewards than traditional services.
In addition to the services listed here, Web 3.0 services are being born one after another, so they will become more and more popular and become more familiar.
Do you know the service called "STEPN" (official HP https://stepn.com/) that was gaining popularity in early 2022?
It is a service that allows you to earn GST (Green Satoshi Token) as a reward by running and walking with NFT sneakers. It is possible to exchange the acquired GST for virtual currencies such as SOL (solana) and USDC (USD coin). You can also use GST to level up your sneakers or mint (generate) new sneakers.
-What is NFT (non-fungible token)?
Digital data with a certificate that cannot be duplicated or forged. Also, that technology. Something that is valuable that is not a duplicate, such as an art work, embedding information that proves that it is the only data. ( Source: Digital Daijisen)
Have you ever heard of the word "metaverse"?
-What is Metaverse?
Metaverse is a virtual three-dimensional space built on the Internet, a composite word of meta (transcend) and universe (world), and users operate an alter ego called avatar to move through the space and interact with other participants. . ( Source: Digital Daijisen)
Until now, there has been a virtual space where users create avatars and exist on the Internet and interact with others, but when Web 3.0 comes, big changes will come.
Web3.0 is based on blockchain technology, so you can use virtual currency on Metaverse.
While improving the quality of communication with avatars, it will be possible to trade products and services in the same way as in the real world using virtual currency, so it will be closer to the real world.
The world-famous Facebook group is also paying attention to such a metaverse and making huge investments. In addition, the company name has been changed to "Meta" and is leading the world's VR (virtual reality) / AR (augmented reality) industry.
In addition, digital art of famous creators who can work on Metaverse and use blockchain is bought and sold in hundreds of millions of units online, and jewelry brands linked to NFT in auction format have also appeared. It is creating a new era of Internet value.
Web 3.0 solves the problems of Web 2.0, realizes a more efficient and secure business model that could not be realized with conventional Web 2.0, benefits many people and companies, and is important for the Internet in the future. It can be expected to be.
However, for those who have little knowledge of blockchain, the current situation is that there are still high hurdles in terms of use. For example, there are many services that do not support Japanese, and fraud using the thinness of knowledge has occurred. In addition, Web3 is still a new concept, so the law development has not caught up.
From this current situation, the Digital Agency established the Web 3.0 Study Group in Japan on September 30, 2022, and is considering what the economy, industry, and society should be realized by Web 3.0.
If the concerns mentioned above are resolved, it will be easier for more people to use it, which may lead to the spread of existing services and the creation of new services, and an interesting world may expand.
I'm looking forward to seeing how Web 3.0 will establish in the future.
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