Crypto has one feature that has never existed before – trust. – Ben Horowitz.
I am doing a #30daysofWeb3 challenge in April.
It is still early in the journey
And the best thing you can do is to get educated.
So here are 5 bullets on Day 1 – Why Web 3.0, Ownership and Tokens
#1 Why Web 3.0 : “Crypto has one feature that has never existed before – trust. – Ben Horowitz”
Where are you today relying on trust? On banks to get paid or lawyers to draw up contracts.
#2 How will the world be different with Web 3.0 : Trust implies ownership. “By reducing the middleman tax, people can finally own the upside from their work. Web3 matters because we’re building an internet owned by people instead of middlemen.”
#3 What does the evolution of web look like?
Web1: Read | Where we navigated static pages built on http protocols
Web2: Read, write | Most of what today looks like. We create and consume content through web giant platforms sitting in the middle. Based on client-server architecture.
Web3: Read, write, own | Create, consume and own work through tokens. Built on P2P computer networks sans middlemen
#4 What is a Token?
Think of it as a record of ownership of an asset that lives on a blockchain
#5 What are Fungible or Non-Fungible Tokens?
Fungible tokens are interchangeable records – think USD or Rupee
Non Fungible Tokens (NFTs) are unique crypto tokens that exist on a blockchain and cannot be replicated. Ex – Art.
Think of it as a Non-interchangeable unit of data. It is an Ethereum based asset
Tomorrow we will look at understanding why Web 3.0 matters for users and blockchain – which is foundational to Web 3.0
For Sources/More Content, check out the links below
Follow along if you are keen to join me on this journey.
What is Web 3.0 :
https://www.odysseydao.com/articles/what-is-web3
https://www.theverge.com/22310188/nft-explainer-what-is-blockchain-crypto-art-faq
The ownership economy
https://variant.fund/writing/the-ownership-economy-crypto-and-consumer-software
Web 3.0 in a nutshell : https://eshita.mirror.xyz/H5bNIXATsWUv_QbbEz6lckYcgAa2rhXEPDRkecOlCOI
Chris Nixon on Why Web 3.0 Matters:
https://future.a16z.com/why-web3-matters/
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