Getting to Know the Popular Web3 and the Decentralized Hype

Some search terms such as Web3, Crypto, NFT, and the like will experience a significant increase from 2021 to 2022, as we can see from Google Trends. This popularity is not without reason, but arises from the many advantages offered by the new innovation, namely Web3, which was born from complaints from Web2 users.

What are Web2 and Web3?

The basic difference between Web2 and Web3 is based on the keyword "decentralization". So, what is decentralization and why is the word a jargon that is often echoed by the builders of the Web3 platform? 

Basically, Web2 is the internet that we use a lot today which is generally dominated by companies that offer certain services, such as Facebook and Instagram from Meta with consumer data as exchange rates.

Meanwhile in Web3, the application runs in blockchain and immediately decentralized. Thus, allowing anyone to participate in the many services offered by Web3 without compromising their personal data.

Apart from decentralization, there are several other important aspects that support Web3, one of which is the quality of its composition (composability). like a lego game, Web3 products can be built open-source together with many others and growing faster than a central system. Subsequent builders can continue building the system, improving its quality even further, and continuing to eliminate bugs and weaknesses. This is in line with the words of the Co-Founder of Scalar Capital, Linda Xie who said qualitycomposed or composability is an innovation.

Privacy and full ownership of personal data is also one of the advantages of Web3. Basically Web3 does not require a lot of personal documents from the user to use the features platform in it optimally. We can also find a lot user Web3 uses pseudonym or pseudonyms when interacting within the Web3 ecosystem. This thick element of privacy has also become a close culture with Web3.

Comparison of Web2 and Web3

Web2:

• Facebook can censor content or accounts
• The central bank can withhold or refuse payments for certain accounts
• Fiverr servers have the potential to be impacted by system shutdowns and affect worker earnings.

Web3:

• Content on Web3 cannot be censored because control is not held by a central system
• Payments on Web3 are unrestricted and do not require personal data
• Servers on Web3 never die, because it uses a decentralized network.

Why Web3 is So Popular Today

You may already be familiar with decentralized finance or what is often called DeFi. DeFi is a popular technology that eliminates the role of the central bank by the use of books ledger which is transparent and much safer because it is in blockchain. Money that is conventionally deposited at the central bank is now in digital format. Generally stored in digital wallets and users do not need to pay fees that are often billed by the central bank to users in using their services.

DeFi as one of the product categories resulting from technology blockchain is a fundamental innovation that is still innovating in increasing the speed of fund transfers, security, and various other features that are not supported by the central bank.

The next big thing from the widespread use and development platform on the blockchain are Non-Fungible Tokens or what we often hear as NFT. Simply put, this NFT is a unique token that cannot be replaced by any other token. No two tokens will be the same. One of the most popular NFT collections includes the Bored Ape Yacht Club and Karafuru.

NFT certainly has its uses, i.e. the usability element provided by NFT project developers, such as Karafuru to NFT buyers or holder NFT. There are a variety of uses for NFT, from exclusive access to certain events to merchandise exclusive from well-known brands such as Hypebeast and Atmos.

However, among these uses, NFT projects such as Karafuru have experienced various challenges in their journey to reach first place in the NFT OpenSea local market. For this reason, Artpedia analyzed the Karafuru NFT project and interviewed founder NFT Karafuru to discuss the usefulness and experience of setting up a project as large as Karafuru here.

Potential as above is the reason why platform Web3 has its own charm. Infrastructure that supports the free use and modification of data, funds, and usability is the main vision of decentralization and Web3.

The Role of Web3 and Its Potential to Replace Web2

Web3's role as a pioneer in the democratization of content and data on the internet has only just begun. Although many new and innovative projects have sprung up, it does not shift the improvement of aspects of Web3 consistently in the future.

Not only that, new projects that are increasingly successful in setting foot in the new world of Web3 are the hopes and aspirations of many users to become a big part of shaping the future of decentralized Web3.

However, the potential for Web3 as a replacement for Web2 is still a gray area, full of debate with one key question: can the fledgling Web3 replace Web2 permanently?

To find out the answers about how the potential of Web3 can enter the technology ecosystem, DailySocial.id opened an event that you should not miss, Web3 Developer Bootcamp by DailySocial.id. With the theme "Building Builders of the Future”, Web3 Developer Bootcamp will discuss about the Web3 technology ecosystem such as blockchain, crypto, NFT, DeFi, and DAO. Of course, all this material and discussion will be shared by keynotes who are experts in their fields such as Antonny Liem (GDP Venture), Intan Wibisono (ArtPop Up, Indo NFT Festiverse), On Lee (GDP Labs), Yohanes Adhi (DailySocial.id), Irzan Raditya (Kata.ai), and others trainers and expertise such as Muqorrobin Marufi (Ansvia), Tata Tricipta (Exclusor), Reza Anwar (Inamart).

You will also not only get learning materials about Web3, as the name implies, this event will invite you to develop programs "Smart contract” directly at blockchain website platform which comes with a session coaching in a manner one on one for 3 days directly.

In order to understand more deeply about Web3, DailySocial.id invites you to take part in activities Web3 Developer Bootcamp, which will increase your knowledge about Web3 with trainers who are experts in that field. your details can watch and register HERE. In addition, you can also join the Artpedia NFT Marketplace for further discussions regarding the Web2 or Web3 technology ecosystem via the link this.

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This article was written by Faisal Mujaddid - Artpedia NFT Marketplace.

Editorial by Tasya Kania