Web3 has been the new cool guy in town for a while now. Everyone is talking about it, and even more want to get into this novel ecosystem. However, not many really know what it is and isn’t. But if you stick around, you will find all that out and more in this article.
First, What is Web 3?
According to Gavin Wood, the man who coined the term “Web 3.0”, ‘Web3 is a truly decentralised and a more democratic version of the current internet — one that is not dominated by a handful of huge players like Amazon and Microsoft as it is today.’
Web 2.0 and Web 3.0 are evolved revisions of the original Web 1.0, which debuted in the 1990s and early 2000s. Web 2.0 is the current web form, while Web 3.0 symbolises its future phase, which will be more decentralised, open, and fun!
The distinguishing characteristics of Web 3.0 include:
- Decentralisation
- Trustlessness and permissionlessness
- Artificial intelligence (AI) and machine learning
- Connectivity
- Ubiquity.
Web 3 Firms
For many, Web 3 is still a beautiful plan in the works, but these companies beg to differ, as they are already in tune with the new version of the world wide web:
- Taskflw
- AlphaWallet
- Quick Node
- Polygon
- Webpack, and some others.
What Web 3 Isn’t
The two central misconceived ideas of Web 3.0 are that it will require next-gen devices and will increase internet speed. None is entirely accurate.
Instead of speeding up the internet, Web 3.0 will primarily focus on enhancing search quality through AI for semantic connection. The network may provide relevant search results and a stable online experience, but it has no effect on internet speed.
Regarding gadgets, users won’t need to acquire special devices or interfaces; they may use the same gadgets they used when running on Web 1.0 and Web 2.0.
Drawbacks of Web 3
Web 3.0 can provide users with considerably higher functionality, but it is not a magic bullet.
Decentralisation has considerable legal and regulatory issues. Cybercrime, hate speech, and disinformation are currently tricky to regulate, and they will become even more difficult in a decentralised system due to a lack of a central authority.
Web 3 will also have issues regarding properly tracking, organising, and structuring work due to the decentralised nature and size of Web 3 firms. For example, Web 3 projects constantly require people to do work due to the sheer scale of how much they need to do.
Potential of Web 3
Of course, it doesn’t all spell doom for the future version of the web. Web 3 clearly stands taller, head and shoulder, among other versions, and many Web 3 firms are getting it right. There is, in fact, an increased willingness for Web 3 projects to pay in cryptocurrency, which solves issues regarding cross-border transactions.
Taskflw – A Prime Example
An excellent example of a project planning to support the growth of the ecosystem is Taskflw, a platform that connects projects and freelancers in Web 3. Taskflw makes it simple for web3 projects managers to build workflows, manage tasks, and hire from a talented community of freelancers to build solutions, all in one place. Here is how we do it:
- Taskflw allows organisations breakdown goals into workspaces and tasks
- It allows communities to track the progress of tasks and visualise the overall goal
- Makes it easy to find freelancers to complete tasks
- Makes it easy for payments to be made at the task level in crypto
You can join our waitlist for an opportunity to get early access to our platform. You may participate as a freelancer looking for projects or join as a creator looking for talent. If you are a Web 3 enthusiast or are new to the Web 3 ecosystem, I think Taskflw will be an excellent place to start.
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