Centralized platforms have been dominant for so long that many people have forgotten there is a better way to build internet services. [[Cryptonetworks]] are a powerful way to develop community-owned networks and provide a level playing field for 3rd-party developers, creators, and businesses. # Web 1.0 (roughly 1990-2005) - Open protocols that were decentralized and community-governed. - Most of the value accrued to the edges of the network — users and builders. # Web 2.0 (roughly 2005-2020) - Siloed, centralized services run by corporations. - Most of the value accrued to a handful of companies like Google, Apple, Amazon, and Facebook. # Web 3.0 (now) #### The third era of the internet The internet is a software based network that is hard toregulate like other hardware base networks such as the phone, TV, radio. Software based networks can be rearchitected through entrepreneurial innovation and market forces. The internet will be rearchitected in the coming decades, enabled by crypto-economic networks. The generalization of the ideas introduced by Bitcoin and further developed by Ethereum. Web 3.0 is the Internet owned by the builders and users, orchestrated with tokens. Web 3.0 Combines: - the decentralized, community-governed ethos of Web 1 - with the advanced, modern functionality of Web 2 ## Why does Web 3.0 matter 1. Ownership and control is decentralized. Users and builders can own pieces of internet services by owning tokens, both non-fungible (NFTs) and fungible. 2. Tokens give users property rights: the ability to own a piece of the internet. 3. NFTs give users the ability to own objects, which can be art, photos, code, music, text, game objects, credentials, governance rights, access passes, and whatever else people dream up next. ### What's happening - NFTs exist on top of blockchains like **Ethereum**. Ethereum is a decentralized global computer that is owned and operated by its users. - **Blockchains** are special computers that anyone can access but no one owns. - Ethereum is powered by a fungible token, ETH, which is used to incentivize the physical computers that underlie the system. ETH is also the system’s native currency for transactions, like NFT purchases. - There are many ways for users to acquire **fungible** and **non-fungible tokens**. You can buy them, but there are also ways to earn them. - Uniswap famously retroactively airdropped 15% of its governance tokens to early users of the protocol. Community grants like this have become common in Web 3 as a way to** build goodwill and incentivize adoption**. - You can also earn tokens through creative and entrepreneurial activities. For example, people are earning roughly $100M worth of ETH per day selling NFTs. - **Tokens align network participants** to work together toward a common goal —** the growth of the network and the appreciation of the token.** - This fixes the core problem of centralized networks, where the value is accumulated by one company, and the company ends up fighting its own users and partners. - Before Web 3, users and builders had to choose between the limited functionality of Web 1 or the corporate, centralized model of Web 2. > Web 3 offers a new way that combines the best aspects of the previous eras. It’s very early in this movement and a great time to get involved. #kp Links: [[Why Decentralization]] [[Cryptonetworks]] ![[Pasted image 20211209114046.png]] #tech