To succeed in the future, you MUST learn web3.
These 7 world-changing concepts get you up to speed:
1. WEB3 - the new version of the internet that is rapidly emerging on blockchain computer networks like Ethereum.
Web3 transforms the internet, making it a better place for humans.
In the early 1990s, web1 emerged with HTML and URLs.
It allowed users to navigate between pages, but the content was static.
Web1 is the read-only version of the web.
In the early 2000s, web2 brought the ability to interact.
Google, YouTube, Facebook and Twitter meant we could watch, search, and share.
But while we created the content, it all 'belonged' to these platforms.
Web2 is the read + write version of the web.
"But the tech giants that dominated web2 made a fortune from tracking and monetizing user data.
Combined annual revenue of Alphabet (Google), Amazon, Apple, Facebook and Microsoft is around $1.2 trillion in 2021."
(img appinventiv)
In the 2020s, web3 is bringing digital ownership to users.
Now you can own digital assets, control your content and data, and more.
Web3 is the read + write + own version of the web.
twitter.com/cdixon/status/1476443819323236357?s=20&t=LsOhmXh8r3wvyOUK52lZKw
2. DIGITAL OWNERSHIP - you can create or purchase a digital asset and have full control of it.
You have digital property rights, can perform transactions or move your assets. Any value accrues to you.
Digital ownership is possible because of non-fungible tokens.
Ownership, scarcity, and uniqueness are hard to establish online.
NFTs allow online assets to have verifiable scarcity and ownership that cannot be manipulated.
They bring the elements that endow physical assets with value, into the digital realm.
twitter.com/cdixon/status/1477416949986430976?s=20&t=CPYkRKpifpuarW5syXS4qQ
With digital ownership you:
• own your online identity and social media content
• can and move it from one online platform to another
• own your online personal, medical data and browsing history
• can participate in and benefit from the internet economy.
Here's a deeper look into the ownership possibilities that tokens bring to the internet and your digital life:
future.com/tokens-are-a-new-digital-primitive/
3. TRUSTLESS - a system that executes a transaction without any need for the humans involved to trust each other.
The system creates the trust that is required.
A trustless system eliminates the need for participants to know or trust each other for the system to work.
There is no need for an intermediary, such as a bank or exchange, to ensure the outcome.
Computer code executes the task.
Blockchain technology uses smart contracts to facilitate trustless interactions between users.
It allows total strangers from distant parts of the globe to do business without an intermediary.
The smart contract executes the transaction for them.
Users trust the code and eliminate the middleman.
Trustless systems transform business, finance and even voting systems.
In this video @alive_eth delves into the meaning, history and future of trust and how it impacts the world.
Crypto, the Future of Trust
4. PERMISSIONLESS - a system that lets anyone participate without need for approval from a central authority.
A public blockchain like Solana is permissionless.
It's an open network where anyone can participate in the consensus process that is used to validate transactions.
Key characteristics of a permissionless system are:
• full transparency
• open source
• anonymity
• lack of a central authority
Web3 is built to be permissionless.
Everyone can have equal access to participate and no one is excluded.
It is a paradigm shift that allows billions more to:
• participate in the economy
• develop new applications
• expand creative opportunity
• build a far better world.
What "permissionless" means and why it matters to DeFi from @DefiantNews
youtu.be/7cHzZ-oB-34
5. ZERO KNOWLEDGE - a way to prove knowledge of a particular set of information without actually revealing what that information is.
It’s an authentication system without any exchange of sensitive data.
Zero Knowledge techniques are a powerful way to protect and preserve your online security and privacy in web3.
Let's say you need to be a certain age before you can sign up for a service, with ZK you can deliver proof of your age without sharing your private info.
ZK is another web3 component that will transform how we live.
It will allow anyone to make a completely private transaction on their mobile and then settle that on a trustless blockchain.
This video shows how ZK enables privacy-preserving use cases 👇
youtu.be/7VmI8fRYHMQ
6. DECENTRALIZED - the transfer of supervision and decision-making from a centralized association (individual, corporation, or group of people) to a dispersed network.
It is foundational to blockchain technology and every aspect of the web3 movement.
'Blockchains are politically decentralized (no one controls them)
Architecturally decentralized (no infrastructural central point)
But logically centralized (one commonly agreed state and the system behaves like a single computer).' @VitalikButerin
medium.com/@VitalikButerin/the-meaning-of-decentralization-a0c92b76a274
Decentralized networks empower entrepreneurs, creators and developers by providing a level playing field.
They are a better way to build the internet.
More on why decentralization matters from @cdixon 👇
onezero.medium.com/why-decentralization-matters-5e3f79f7638e
7. COMPOSABILITY - the ability for components of a system to be reconfigured into larger structures and for the output of one to be the input of another.
In web3, composability leads to more choice and better user experiences.
Anyone can take an existing idea and making it easier to use or adapt it to new use cases.
In software, composability is an exponential force. twitter.com/cdixon/status/1451703067213066244?s=20&t=_xvLXrEMnbyqOuob7srt8A
Developers can bootstrap their own projects without having to build from scratch.
Non-crypto businesses can plug into open ecosystems.
NFTs can be used as collateral.
Composability transforms the world! More from @ljxie 👇
future.com/how-composability-unlocks-crypto-and-everything-else
7 world-changing web3 concepts
1. web3
2. digital ownership
3. trustless
4. permissionless
5. zero knowledge
6. decentralized
7. composability
That's it, folks. I hope this was useful.
If you enjoyed it, please share by retweeting the first tweet.
I write about the ideas, trends and people shaping web3 and our future. You can follow me @MishadaVinci.
My next cohort of Become a Web3 Leader is happening soon.
You can learn more and join up here 👇
maven.com/misha-da-vinci/become-a-web3-leader