What is the $40 million increase in 72 hours of Web 3.0?

In 2020, Tim Berners-Lee, father of the World Wide Web, told Vanity Fair magazine, "The spirit of the internet needs to spread, and in some businesses the internet is a monopoly business."

Certainly the Internet is a young industry, but when China fined 18.2 billion won on Alibaba and 3.442 billion in antitrust fines on Meituan, some netizens on Weibo shouted, "The world is suffering from giants. Internet. business for a long time. »

Along with the national anti-corruption laws being put in place, they started discussing how to regain power to protect the internet giants by doing all the commerce on the internet.

On January 7, Brian Brook, CEO of Bitfury Group, presented the concept of Web 3.0 to lawmakers attending a hearing in the United States.

Brian Brook believes that Web 1.0 functionality is read-only because in the Internet 1.0 era, users could only access data, not modify it.

In the era of Web2.0, users can read and write files on the Internet, such as the WeChat public account we use, Weibo, etc. Who can become a creator.

However, this also creates problems. The platform has too much power and becomes a standalone file which is unclear and can be used by users.

Even after Trump spoke negatively about online businesses on Twitter, Twitter can still have a direct impact on the president's social media account.

In the era of Web 2.0, on the Internet, a personal online user is like a lease from a central corporation, making lucrative money for stealing, censoring, censoring, dropping, blocking and other risks.

Based on this, Brian Brook translated Web3.0. He can read, write and exist at the same time.

After Brian Brook raised the popularity of Web 3.0, some of the litigants in the hearing announced that Web 3.0 was supposed to happen in the United States.

What is the Web 3.0 era? Why is this important? Is Web 3.0 a “panacea”?

We try to help everyone understand our problem in the form of research papers.

Web 3.0 enables new organizational information.

Before understanding Web3.0, we must understand DAO, a concept that has become very popular in recent years.

Few people know that the application of tokens, which are blockchains, could be the biggest marketing initiative of the company in recent years.

Recently, a strange event occurred in the world of finance and finance, and an organization called the DAO Legislature announced on Twitter that it would join the race for one of the proclamations of the 1787 United States Constitution, published by Sotheby's . There are only 13 maps left in the world because we don't have enough money and can only spend a lot of money.

When the news broke, many netizens took to Twitter saying, "If you want to run in the US election, you have to buy a ticket at Sotheby's, but that ticket costs at least $10 million."

Constitution DAO has no money, but creative. On Twitter, he shouted to Twitter users that he now wants the masses of the "American Constitution" auction. At the end of the competition, each donor will receive an "American policy" and a part of the profits, which will be distributed after the presentation.

In an effort to keep their words true, DAO Legislature leaders announced the crowd of Juicebos and used blockchain technology to “rule” the law.

After the donation, Internet users will receive a different "customer" debit card number depending on the donation number. This voucher is a unique and irreplaceable item. It represents the percentage of grants and voting rights after multiple grants, as well as the stake. Auction Only proof of the auction of the United States Constitution.

When the news broke, 17,000 people participated in the donation in just 72 hours, raising a total of more than $40 million. Support for donations, marketing, website development and other activities.

Two days later, when the DAO Legislature announced Sotheby's auction for a copy of the US Legislature and announced its participation in fundraising and fundraising at the same time, many users flocked and nearly 100 DAO members passed. Please post this Tweet by commenting and repeating the Tweet.

According to parity stats, DAO Legislation raised $2 million a day, excluding explosive growth in the first two days, and when Sotheby's auctioned "US Constitution," the fund raised $47 million. .

But the ConstitutionDAO's high hopes weren't in the moment, and Ken Griffin, Chicago's richest man, won the ConstitutionDAO by a narrow margin.

Interestingly, one of the main reasons for the failure of the DAO law is that the fundraising process is open and transparent, and the DAO law requires all fundraisers to return once candidates have drawn the best out of the contest.

Following the incident, The New York Times and the BBC reported on OrganizationDAO, but their reporting focused on OrganizationDAO rather than Sotheby's victory or defeat.

According to the New York Times, "Blockchain technology takes less than a week to bring together 17,000 people they've never met, working together to achieve the same goal."

Sotheby's said, "It took six months for the project to reach $40 million, but it only took a week for the DAO."

The creator of the DAO legislation also tweeted: “Our public service to buy US law has failed, but I don't think that's a mistake. We made history and no city can do it in a week. We use the concept of competition in US law. "

Coincidentally, before the autonomous agency ConstitutionDAO launched the crowdfunding, a "decentralized" organization called "Krause House DAO" provided Opensea's NFT with the target to raise 1,000 ETH (equivalent to 24 million RMB) to buy the Only NBA team. .

Although 24 million yuan is still less than the food and expenses of the NBA in one year, the pace of fundraising by the city after the project started is amazing. In a single day, 400 ETH was raised, reaching almost 10 million yuan.

What is the DAO? Why has blockchain become a DAO strategy?

In 2008, with the advent of the first Bitcoin, the concept of blockchain came first, the first industry in human history that was not based on labor and relied only on technology. machine crazy autonomous computing.

In 2011, ETH appeared in the human eye, as a reliable version of Bitcoin, ETH writes everything autonomously in code and can be understood as an electronic contract.

DAO Autonomous Organizations is a group of organizations that rely on all sorts of smart contracts to cater to large crowds without relying on people. vote.

Following the example of the DAO Act in US law, before the DAO Auction Act, internet users were told via Twitter that their free space would be placed in the account, such as the "blockchain vault". One of the nine leaders must sign at the same time.

Second, all data from all processes of mobile transactions and signatures can be viewed in the ETH browser, and as long as people around the world can access it on the US network, they can see real money connections. Time and people can trust Chord Network.

This money corresponds to the bank account visible to the world, and all its exchange information is clearly locked on the blockchain.

As the DAO Act was unsuccessful in the race, we were unable to see the benefits of the US Constitution allowed tokens in the actual vote.

But for example, the disparity in donations to the US Constitution is $1 million, which is $47 million in the crowd, and the difference is 1 in 47 votes in the US Constitution.

If the "United States Constitution" passes the "Washington" ballot or the "Seattle" ballot when the polls open, the difference will be 1/47.

And if the ticket is written after 'U.S. Constitution 'exposure is 10 million dollars, parity also received 1/47 of its income.

The DAO Act uses blockchain technology to earn the trust of 17,000 people and increase revenue, but a single person can complete 80% of the process in a contest. Today, the new concept of DAO may still be unthinkable.

After the ConstitutionDAO ended this show, several fellowships published bibliographies for the United States Legislative Assembly to document these historical events and launch its Web 3.0, a religion under pressure from the organization.

But is Web 3.0 really coming? Twitter creator Dojessie tried to prove that Web3.0 is just a concept when he was only at the stage of transitioning from WEB2.0 to Web3.0.

Web3.0 can also be blocked

Recently, the concept of NFT has become popular in the entertainment industry. Previously, Lin Junjie used 500,000 RMB to buy the NFT asset "Crypto Monkey" from Opensea to build his own MANA land, then through Jay Chou's INS "Crypto Bear" platform, including all the contents of the NFT digital collection exploded.

Opensea is a digital collectible NFT trading platform. Users can create and edit NFTs on this platform. Digital notes can be selfies, photos or QQ avatars.

In a single month of July this year, Opensea's market share reached $350 million, according to Digital NFTs. After Opensea announced the news, blockchain investment group A16z contributed $100 million to Opensea, which has since been announced to go public on Nasdaq in the near future.

And Opensea is also known as the default Web3.0 application in the market because apart from accessing your email and phone number at the time of registration, Opensea allows you to access Opensea directly from your blockchain wallet.

The only reason to enter a wallet blockchain called Web 3.0 is that every item can be stored in a wallet without having to store digital assets on the mov server. This way, even if the platform goes down, you can still store your digital assets and NFTs if you forget your wallet number.

However, Moxie developers do not believe that Opensea is a Web3.0 application.

Moxie developed NFT from Opensea and deliberately developed policies for NFT to see the different models of different platforms. (depending on IP site)

Once Moxie has started registering this NFT with Opensea, you will be able to see images of this NFT on your wallet and Opensea.

However, a week later, Opensea Police claimed to have removed Moxie's NFTs, accusing them of breaching their services.

Although Opensea claims to have removed Moxie's NFTs from its official website, Moxie can still find its own NFTs in the wallet, but it has been permanently removed by Opensea. The platform can no longer buy and sell Moxie's NFTs.

It's like Weibo deletes our user comments when we write an article, but we still have our thoughts on local files and scripts.

Moxie digs deep and discovers that the wallet app he is using has not published his account details on the Ethereum blockchain. Instead, his app relies on the API to determine which NFT is interacting with the blockchain account, and that API is the OpenSea API.

Moxie said, "It's like Web 2.0 development. A powerful platform can accomplish/delete information and assets from their accounts without user consent."

However, there are significant differences between what happened to Moxie and what happened when the Web 2.0 platform decided to delete user data or names.

If Moxie uses another application to analyze the state of the NFT directly on the blockchain, it will know that the NFT still exists. When Moxie changes platform, the new platform also shows NFTs change and only Opensea does not show NFTs in Moxie due to admin blockers.

The Moxie test indicates that Web3.0 has not reached the test level, and the current situation is close to the transition level of Web2.5.

When it comes to Web3.0 applications, Web3.0 applications such as blockchain, defi wallets, exchange transactions, and smart contracts have succeeded on the blockchain.

However, in the real world, most people choose to adopt Web 2.0 because of the convenience of life and the high reliance on the Internet.

If I had to tell you what time it is on the internet today, Web2.5 would be the most apt description.

Does Web3.0 Internet have a price?

The Internet is probably the most important invention of this century. Over the past two years, the focus of information circulating in the community has changed: media, politics, journalism, education and social media. However, despite the growing market share of reality to the website, our online characters are still not really creative and are still watched on the platform.

A blockchain is a special computer that everyone can access and no one has. The Web 3.0 that we consider is an extension of the Internet at a cost created by the Internet based on blockchain technology.

The distance between the Internet and reality is TOKEN. For users, TOKEN is like a composition of code and computer. One is human-to-computer programming and the other is community-to-human interaction. the program.

When Bitcoin started in 2008, no one expected the ease of connecting users via tokens to have a global impact. Then the success of Bitcoin and Ethereum proved that it was easy and possible to motivate people through tokens and certificates.

People will be able to proclaim the signs of the same dream and create institutions that make people less vulnerable as "financial stimulus", "longing", "longing for time" and "fear of losing" affect people. I realized more and more that I was crazy. Participation in the project.

As has always been the case, humans have evolved genes to seek greater financial interests and to make events more transparent.

In the first case, for example, ConstitutionDAO used its blockchain capabilities to raise 17,000 people while achieving its goal, raising $47 million in just one week.

Even if the goal is achieved, the user will support the achievement of the goal by voluntarily creating an independent workforce in public, business and commercial relations. .

What connects everyone to sharing in this event is the token used for the donation, an essential part of the blockchain.

The right "people" sold by ConstitutionDAO freely decentralize the entire organization as a "decentralized community of interest" without a single key authority.

Due to the distribution of money, money and respect, tens of millions of people can work towards the same goal, and the ultimate motivation is to keep TOKEN in their hands and achieve its value.

Also, since Web 2.0 design does not provide a unique user ID, they are required to register an account on each website and store sensitive information on the platform server.

If you live in the early days, your password will be by law, but there are thousands of internet users in China. Usernames and passwords are no longer Internet security standards, and everyone on the Internet needs more than 50 passwords. Moreover, the software creates islands of data with each other, which affects the user's previous experience.

Web3.0 seeks to address racial issues. In the second case, even if Moxie created digital NFT scripts in Opensea and was removed from the shelf, as long as Moxie moved to another NFT platform, he could find the missing NFT, Register. them on another platform.

And Moxie doesn't require you to register as a user of another website, just copy your blockchain wallet access to the website. In Web3.0, all non-wallet interactions and applications are accessible without confirmation.

In Amazon's modern enterprise, administrators can determine who can read and write information, and where information can be seen, and they can make changes to information individually. It turns out that Amazon is also the cornerstone of Amazon's global powerhouse.

Web3.0 is like the free thought of the internet community which from these ideas to blockchain, digital assets, financial management, smart contracts, With the integration of organizations and personal connections, these blockchain devices become more and more human and constitute a new phenomenon of collaboration. .

However, the capabilities and content of Web3.0 go far beyond that, it includes these blockchain-derived applications and the development of new ways to integrate the Internet.

Internet platform features are blockchain reading, writing and personal data, becoming the financial platform of the Internet at a cost without the need to identify the Internet platform, in response to the sale to personalize, create new promotional models, and improve collaboration. . It is easy to do. Easy.

But at the moment, Web3.0 is still in the transition phase, and the 3rd generation Internet has not yet emerged due to the giants' involvement in the Web2.0 era.

finally write

There's a line in the movie 'Black Swan' that says, "History progresses by leaps and bounds, and we always rise above the evil we cannot imagine." "

What is Web3.0? With the current blockchain development, it is difficult for anyone to clarify.

However, when historical processes will be affected, many strategies will support the relationship in the future, such as the emergence of the Internet and the emergence of blockchain.

The comical appearance of DAO legislation in the world of the Internet threatens to slowly and subtly etch into the human mind the idea of ​​a truly ideologically autonomous society.

Moxie's experiences show that Web 3.0 is still in development, and the personal and wallet can still be removed by Internet giants along the way.

Currently, Web3.0 is still in its infancy, but Web3.0 can be a smart face to break the moment of Internet centralization.

It's time to build a better Internet. The VC A16Z crypto fund recently closed its Web 3.0 investment.

It may also be a cry that the Internet age is entering a new generation of value networks.

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