In less than a decade, Web3 has created a huge financial empire, an achievement that has attracted worldwide attention. Even Facebook has participated in this financial feast in the form of all-in. The basic elements of encryption and economics have brought a rich, open and diverse ecosystem to financial transactions. However, a contradiction has emerged in this process. The economic value of financial transactions is determined by people’s social relationships in real life, which means that its internal operating logic is not perfect or even complete. It is precisely because Web3 lacks the basic elements that represent social identity that it fundamentally relies on the centralized Web2 structure that it wants to surpass, which has very large limitations.
Web2.0 is essentially a platform economy, with a monopolistic oligopoly represented by a small group. The Internet has become a national-level application at this stage, gathering super ecological application development such as social networking, search, and e-commerce, and the leading companies in each industry almost monopolize industry resources and development ceilings. This makes it easy for Web2 companies to exploit and occupy user resources and information while having the final right of interpretation. For example, the influence and non-replaceability of WeChat and QQ in China make it impossible for users to maintain their own interests. Users in Web2.0 are more like vassals of the platform rather than service recipients. Web3.0 is a back-end program revolution belonging to the Token economy. Its original intention is to obtain more voice and creativity for ecological participants outside the platform, and to have the right to control the value of the product itself, as well as privacy and security. To a certain extent, it avoids the unbalanced monopoly mechanism.
The current Web2 social network cannot communicate with each other on different platforms, and the data is isolated. The content, social relationships and digital assets created by users are neither portable nor transferable, and existing connections will not be followed on any social channel. Every migration requires re-establishing identity, information and connections.
When the usage rate of existing social networking platforms by users and creators reaches a strong network effect, the participants of the network will become victims of the platform's growth; resulting in data and security vulnerabilities, psychological and social problems, including manipulating public opinion and forwarding false information.
In the traditional Web2 model, users’ content and contributions make these platforms valuable, but the ownership of this content does not belong to the users.
After the rise of Web3, most of the concepts or research on DID focused on the research and establishment of protocols and standards, lacking the association of specific data and the implantation of relationships. Some accumulated the data of various identifiers through the association of DAPP; no platform has yet been able to open up the closed loop from the generation of DID to data accumulation and application. Some applications based on the concept of social graphs only record the basic social behaviors of users, and do not objectively express the important factors of people in social interaction, such as social breadth, depth, activity, influence, etc., and the social value of people is far from being expressive enough.
Nowadays, there is such an application that breaks the platform algorithm in traditional web2 through the curator model, returning the user's social relationships, created content, influence, data value, etc. to the user;
Dcircle is a DID social platform. Through the independently developed YAYO DID SYS identity system and Web3-related technologies and facilities, it builds a trusted social environment to meet users' Web3 social needs such as rights confirmation, security, privacy, value transfer, and data storage. It also adopts a curation model to replace algorithmic recommendations to create a fairer, more transparent, and user-demand-oriented content distribution method, and reshape the identity social value chain.