Musk's mocking web still has a long way to go

"Has anyone seen Web3? I can't find it." On December 21, Tesla founder Elon Musk reiterated this hot idea.

Reuters recently named Web3 its Hot Topic of the Year, and many tech companies and foremen have expressed interest in adopting Web3, but now that idea is vague and so broad that the hype has motivated it. Musk once said bluntly that Web3 sounded "inaccurate."

In the context of Reuters, Web3 is used to describe the Internet's next stage, the “distribution” of Internet-based blockchain technology. In this model, users own platforms and applications that are different from the modern Internet.

A handful of Internet giants are now managing user identities and personal information, and even Twitter, the world's largest consumer, lacks the functionality of Web3.

In the opinion of Josh Stark, who contributed to Ethereum technology, Web3 is a technological process designed to streamline the governance of the Internet. In the Web3 world, users are not centralized to deliver their services, but have better control over their privacy and data. Since then, individual users will be able to more easily share the market value of the Internet mogul.

However, there are many challenges with accessing Web3, including how to successfully start and later resume decentralized and network-modified programs, performance, and management control. Users should also be made aware of “recovery control”.

Musk teases Web3 "li zoo gibberish".

Although the concept of Web3 is emerging in the public eye, this new concept still seems confused and before its arrival.

On December 21, Tesla founder Elon Musk tweeted, "Does anyone see Web3? Not found."

This isn't the first time Musk has called Web3 cold water. On December 2, he falsely claimed in the media that Web3 was "gibberish". On December 20, it was rumored that Web3 is now more of a buzzword than fact. "I think the future will be in 10, 20 or 30 years. 2051 sounds like crazy futurism."

Musk, who has always been the tech-savvy future, is in charge, and he calls the current phase of Web3 development as an “industry buzzword,” which implies a source of speculation. In the past, he has published cartoons on "production culture" which clearly illustrate the commercialization of the Web3 concept. In the comics, a man walks up to a strange man after entering the bathroom, taking over popular content like encryption, Web3, and DAO.

Musk satirizes the Web3 hype with a cartoon

It is not yet clear what Web3 is, but the term seems to exist in human discussion sites.

Most recently, Reuters chose Web3 as the research and technology hotspot for 2021. In the context of Reuters, Web3 is used to describe the next phase of the Internet, "Internet-based distributed blockchain technology." In this model, users own platforms and applications that are different from the modern Internet, known as Web2.

If you search for Web3 by this definition, Ethereum seems to be the closest. Many commercial applications have been developed on a decentralized network, including Uniswap, Compound, etc. Users can use these applications without registration or authentication to protect themselves and have better control over their privacy and access to information.

However, the application of the Ethereum network is always more financial, the service is not enough and even more applications are not affected. An example is often thieves on a workgroup.

In this case, Twitter CEO Jack Dorsey believes users don't have Web3. The real owners of Web3 are venture capitalists (VCs) and limited liability partners (LP) behind the project. “Web3 couldn't miss its support. Eventually it became common ground with different scripts. "

The centralized social media mogul, Twitter CEO's skepticism of Web3 clearly has a start. The statement quickly sparked an outcry from a16z partner Chris Dixon, claiming that all rights, documents and members of Web3 were open source and rarely accessible by affiliates. print (for example, a16z).

The key point when some internet opinion leaders discuss Web3 is "is it influential enough?" So which is the best Web3? How difficult is it to "find"?

At the heart of Web3 is "user control".

Web3 can be seen as another change on the Internet. Over the years, the internet has undergone many changes including features, functionality, and extensions. . And by cataloging services around the world. Social networks.

Although the performance of the Internet has improved considerably, the shift to centralization is even more important. Data shows that Google increased search traffic by 74% according to search services. Facebook has created the largest social network and has managed over 2.2 billion numbers online.

Currently, all Internet services used in people's daily lives are provided by central agencies. These important companies manage people's personal and private information while delivering endless advertisements to their users.

Ethereum technology contributor Josh Stark believes that compared to the current Web2 era, the key to Web3 is "control", not speed, functionality or simplicity. It's about who manages the technology and day-to-day applications. Thus Web 3 is a technological process designed to improve internet control. These include financial services (cryptocurrency), high-tech communications (end-to-end cryptographic data transmission), common applications (open chat, business) copy-to-peer) and large websites. (Decentralized DNS).

In Josh Stark's view, in Web3, money (currency) has become an important part of the internet, opening up many new business models, including medium-term lending and cross-border repatriation rates. . The developers of these business models are moving from centralized sites to different sites like Twitter or Middle, where users can again share content, comments, etc. The platform encourages users to support throughout the design process without having to think about how unfair to fans and traffic.

In a decentralized social platform, users don't have to wait for Twitter to add new anti-spam or anti-original features. Indeed, the ecosystem of services develops on an open process and the users manage it all.

This relationship is just the tip of the iceberg of the world's best web3. With the help of blockchain technology, in Web3, users have more self-control and information, the use of decentralized services allows people to use social media or centralize businesses to store items while by renting or leasing a car. , collection and sale of personal information. Insiders believe it will be easier for consumers to capture millions of dollars in market value in the past through platform companies.

The vision of Web3 is undoubtedly good, but there are still many problems for its realization.

First of all, since the cost of investing in a decentralized service belongs to the users, who can provide real incentives for early start-ups? A prime example is Didi and Uber fighting over money in the taxi market, which ultimately changes the way people travel. Much lower than the base mass.

At the same time, the success of Web3 requires a strong network blockchain, but there is still not a chain large enough to accommodate a large-scale migration in Internet services. Such applications can disrupt the network and the operating costs are always broken.

The impact on censorship may be greater than expected, as Web3 also includes the use of technology to prevent censorship and censorship, allowing users to avoid censorship, finance, and the law. If regulators see this as a risk, Web3 may find it vulnerable. Twitter, for example, originated in the United States, which promotes freedom of the press, but not all media can communicate publicly on Twitter. Facing the censorship and cover-up of the platform.

When Musk announced that Web3 was no longer available on Twitter, people had to recognize that key companies still play a vital role on the internet. Migrating from Web2 to Web3 not only requires overcoming concurrency and management issues, but also requires users to "take back control" of the experience.