What is Web3?

[Trader Curt]

No the power will never shift to individual users for one simple reason: Where is the money??? All those systems, no matter how small, still need infrastructure and that infrastructure costs money because nothing is free. Right now you only need thousands of computers around the world to support the crypto because it's not being used by everybody yet. Imagine if it's the whole world using crypto assuming this web3 takes off. Who is going to house the massive amount of computers, networks, hardware, and software to run the blockchain technology?? It might not be Facebook or Google if they weren't on board but somebody will have to do it and those are the companies who will be in power, controlling everything again, might be to a lesser degree but will still be having the power. And one thing for sure, it won't be the people or individuals. It's just not feasible.

LOL uneducated

 

[Tokenz]

No the power will never shift to individual users for one simple reason: Where is the money??? All those systems, no matter how small, still need infrastructure and that infrastructure costs money because nothing is free. Right now you only need thousands of computers around the world to support the crypto because it's not being used by everybody yet. Imagine if it's the whole world using crypto assuming this web3 takes off. Who is going to house the massive amount of computers, networks, hardware, and software to run the blockchain technology?? It might not be Facebook or Google if they weren't on board but somebody will have to do it and those are the companies who will be in power, controlling everything again, might be to a lesser degree but will still be having the power. And one thing for sure, it won't be the people or individuals. It's just not feasible.

Yeah like the creators of Web3 never thought about money or how it would be managed, and just threw it together overnight not knowing the outcome

 

[newwurldmn]

Someone described it as follows:

web1 was read (someone posts and we all read)
Web2 was read/write (someone posts ans we all can respond and post, but big tech owns it)
Web3 is read/write/own (we own what we do)

 

[TheDawn]

Yeah like the creators of Web3 never thought about money or how it would be managed, and just threw it together overnight not knowing the outcome

And this is relevant to what I wrote how??

 

[TheDawn]

Someone described it as follows:

web1 was read (someone posts and we all read)
Web2 was read/write (someone posts ans we all can respond and post, but big tech owns it)
Web3 is read/write/own (we own what we do)

No Web3 is read/write faster and more secure/own maybe tiny little bit at least with the illusion of it

 

[newwurldmn]

No Web3 is read/write faster and more secure/own maybe tiny little bit at least with the illusion of it

that hardly seems revolutionary when you consider how much fraud, theft, and rug pulls there is on crypto exchanges vs traditional ones.

 

[TheDawn]

that hardly seems revolutionary when you consider how much fraud, theft, and rug pulls there is on crypto exchanges vs traditional ones.

That's how I see Web3 is.

 

[LuckyMac]

Someone described it as follows:

web1 was read (someone posts and we all read)
Web2 was read/write (someone posts ans we all can respond and post, but big tech owns it)
Web3 is read/write/own (we own what we do)

Perfect explanation. Im looking more and more into this now..exciting times ahead

 

[newwurldmn]

Perfect explanation. Im looking more and more into this now..exciting times ahead

I’m beginning to get it as well at least at a high level. This is like the internet in 1994.

who knows who will win but whoever does will make a fortune.

 

[Tokenz]

And this is relevant to what I wrote how??

It's completely relevant. Everything I just talked about was what you said in your post. You odviously don't understand it because you're not educated in how it works. You instead just said a comment to the best of your ability not knowing anything about what you are talking about.