Friday, December 31, 2021

What's Gonna Be Hot in 2022? Web3, blockchain-based web sites that are decentralized... and more

In the coming new era, navigating the web may no longer require logging onto Facebook, Google, or Twitter. Instead, web sites are decentralized. Imagine it as a kind of bookkeeping where many computers at once host data that's searchable by anyone. It's operated by users collectively, rather than a corporation. People are given "tokens" for participating. The tokens can be used to vote on decisions, and even accrue real value.

Blockchain is a driving force of the next-generation Internet, what some refer to as the "Web3." The Internet we use today predominantly builds on the idea of the stand-alone computer. Data is centrally stored and managed on servers of trusted institutions. The data on these servers is protected by firewalls, and system administrators are needed to manage these servers and their firewalls. One might recall that blockchain is the tech that undergirds Bitcoin and other cryptocurrencies.

Experts say, in the best case scenario for Web3 enthusiasts, the technology will operate alongside Web 2.0, not fully supplant it. In other words, blockchain-based social networks, transactions and businesses can and will grow and thrive in the coming years. Yet knocking out Facebook, Twitter or Google completely is not likely on the horizon, according to technology scholars.

For those surfing, nothing much will change on the surface of the Internet. If "Web 2.0" was a frontend revolution, Web3 is a backend evolution.


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