Overview of Web3 Technologies and Applications
Web3 (or Web3.0) is a new paradigm in the evolution of the internet, aiming to build a decentralized, user-controlled ecosystem based on blockchain technology. It is seen as a revolution against the current Web2.0 (dominated by centralized platforms like social media and cloud computing), aiming to address issues of data monopoly, privacy breaches, and excessive platform power.
Core Technologies of Web3
Blockchain
As the underlying technology of Web3, blockchain ensures data transparency and immutability through distributed ledgers, without relying on centralized institutions.
Typical Applications: Bitcoin (Payments), Ethereum (Smart Contract Platform).
Smart Contracts
Self-executing program code that triggers operations (like transfers or trades) when conditions are met, eliminating intermediaries.
Platform Representatives: Ethereum, Solana, Polkadot.
Decentralized Storage and Computing
Data is stored in a decentralized manner across global nodes, avoiding single points of failure.
Representative Projects: IPFS (Storage), Filecoin (Storage Incentives), Arweave (Permanent Storage).
Cryptocurrency and Token Economy
Incentivizes participants (like developers, users, investors) through tokens to form a decentralized economic system.
For example: Governance tokens in DeFi (Decentralized Finance).
Decentralized Identity (DID)
Users manage their digital identities independently, without relying on third-party platforms (like Google or Facebook login).
Main Features of Web3
Decentralization: Power shifts from giant companies to communities and users.
User Sovereignty: Individuals own data rights and can choose to share or trade.
Transparency and Immutability: On-chain data is publicly accessible and rules are enforced by code.
Interoperability: Different blockchains and applications can interact across chains (e.g., cross-chain protocol Cosmos).
Application Scenarios of Web3
DeFi (Decentralized Finance)
Provides services like lending, trading, and insurance without the need for banks or exchanges.
Case Studies: Uniswap (Decentralized Exchange), Aave (Lending Protocol).
NFT (Non-Fungible Token)
Unique digital assets used in art, games, virtual real estate, etc.
Case Studies: CryptoPunks, Decentraland.
DAO (Decentralized Autonomous Organization)
Community governance based on smart contracts, with decisions made by token holder votes.
Case Study: MakerDAO (the organization behind the stablecoin Dai).
Decentralized Social and Content Platforms
Users control their data and directly receive earnings from their creations.
Case Studies: Mirror (Decentralized Writing Platform), Lens Protocol (Social Graph).
Blockchain Games (GameFi)
Game assets are tokenized, allowing players to earn income through gameplay.
Case Studies: Axie Infinity, StepN.
Web3 seeks to reconstruct the power structure of the internet through technology, but its widespread application still needs to address performance, user experience, and regulatory issues. Although it is currently in the early stages, it has shown disruptive potential in fields such as finance, art, and gaming, and is viewed as a key step towards a 'Value Internet.'