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Web30: opening, privacy and co construction are the three labels to subvert the Internet "with download"

Time : 08/02/2022 Author : raqh7l Click : + -
        Web3 (also known as Web3.0, also known as Web3) is a concept about the development of the world wide web, which is mainly related to the decentralization based on the blockchain, cryptocurrency and non-homogeneous tokens. In Web3.0, users interact to meet their own needs, and use blockchain technology in the interaction to realize the creation, distribution and circulation of value. This whole process of user interaction and value circulation forms the Web3.0 ecology. Compared with the platform centralization feature of Web2.0, Web3.0 is committed to realizing a "decentralized" network ecology owned and jointly built by users. For the intelligent internal reference in this issue, we recommend the reports of Guosheng securities and Dongwu securities "Web3.0 era: openness, privacy and co construction" and "Web3.0 preliminary exploration: a decentralized network ecology based on blockchain technology, user led", to reveal the main elements and features of Web3.0 ecology.
        Web3.0 era: openness, privacy and co construction; Web3.0: a decentralized network ecology based on blockchain technology, user led. In the period of Web1.0, the content was provided by the website (PGC). Users could only passively browse the text, pictures and video content, and could not participate in the creation. During the Web2.0 period, there were blog, video platform, forum community and other website models. Users can create and upload content (UGC) independently on the platform, share and accept the views of others. All of this will undergo profound changes in the Web3.0 era: the Web3.0 world will be fully open, and the behavior of users in it will not be restricted by ecological isolation. It can even be considered that users can freely swim in the Web3 world (based on basic logic); User data privacy will be protected by means of encryption algorithm and distributed storage; In the Web3 world, content and applications will be created and led by users, fully realizing user co construction and co governance (Dao, decentralized governance), and users will share the value of the platform (Protocol).
        In addition to completely different Internet modes and user experiences, Web3 will bring a new traffic entry paradigm. In the web2 era, there will be some interesting changes in the traffic entry mode that occupies users' attention. Driven by the distributed technology represented by the blockchain, from the decentralized point-to-point ledger experiment to the decentralized smart contract platform, numerous new applications (dapps) have been born. Slowly, defi has formed a "financial service" in the digital world, and NFT has accelerated the asset chain. We can see that beyond the traditional world (online and offline), users are getting closer and closer to a compatible digital world. So far, people are calling for a brand-new network world & mdash& mdash; The meta universe can reliably carry personal social identity and assets, and the community will have a stronger dominant power.
        Web3.0 technology stack can be divided into three layers: protocol layer, application layer and network foundation layer. All this is mainly based on the blockchain (of course, the protocol layer can also have auxiliary parts under the chain). From the perspective of application, Web3.0 covers Dao (and tools), privacy, applications, storage and data, games, creators' economic platforms, social networking, and almost covers most areas of Web2.0. With the vigorous development of the cryptocurrency industry, a large number of Web3.0 applications have emerged in the past two years. Of course, most of these applications may eventually be transitional products. Even some applications have defects in economic mode and solving user pain points, which do not reflect more real needs than Web2.0.
        In any case, Web3.0 ecology has taken shape, and in the continuous application exploration, the veil of Web3.0 will be unveiled step by step. Web3.0 ecological composition module: 1) user identity: users use wallets, master multiple virtual avatars, and participate in the interaction of Web3.0 network ecology. 2) User interaction: through the blockchain technology, user interaction is realized to realize the creation, distribution and circulation of value. 3) User organization: users form an autonomous organization to create various applications, tools, protocols, etc. for the Web3.0 ecosystem in collaboration. 4) Bottom support: blockchain slave technology layer and distributed storage slave data layer provide bottom support for Web3.0.
        Users participate in the interaction of the network world through virtual avatars. In Web3.0, the collection of virtual avatars is the user identity, which is truly owned and mastered by users. It is also called & mdash& mdash; Decentralized identity (did). Compared with the user identity in the Web2.0 era, the user identity in Web3.0 is very different in identity control, openness, security and privacy. The user identity of Web3.0 ecology is decentralized, and its manifestation and use mode have the following characteristics:. 1) Decentralization: as a collection of user identities, did is completely in the hands of users and not completely controlled by any organization.
        The authentication of user identity by any organization is only an element in the set. 2) Manifestation: the user stores the identity authentication information issued by various institutions on the blockchain address completely controlled by the user, which is often the wallet address of the user. 3) How to use: log in all applications on Web3.0 through wallet. The use experience is similar to wechat login in the Web2.0 era. The difference is that did is owned and mastered by users, while wechat is limited by the platform. 1) The access of users in a certain Internet application "field" is fully free and the threshold is low; For example, users often use a blockchain account address to log in to the application on the chain, without registration and permission, and the operation is convenient;.
        2) The user's behavior is not restricted by the third party, and the Internet application breaks the boundaries and barriers between the so-called ecology and ecology. Under the principle of compound code operation logic, the applications are highly combined and complex; The most direct case is the so-called defilego. Any application can call or aggregate underlying basic protocols (such as DEX), and the synthetic asset platform maps real-world assets to the chain (no delivery relationship), which is equivalent to breaking the so-called boundary between online and offline, virtual and real. 3) In addition, applications based on different infrastructures within Web3.0 can be interconnected by "cross chain" protocols; Therefore, the behavior of users in multiple applications in the Web3.0 world can produce similar social relationship maps, further enhancing the potential of data value mining.
        Take a game application as an example. Users can easily enter a game world without being restricted by a third party; Users can freely implant their favorite characters / images into the game, and even make the characters act across platforms / domains. In the Web2.0 era, such as the glory of the king, you can not decide the choice of characters, let alone kill the favorite monkey king into world of Warcraft & mdash& mdash; It is not difficult to build a connected platform in this respect, just because the control is not in the hands of users. Of course, you can also trade character skins and other equipment (with NFT), or even establish a complex game equipment derivatives market based on other defi protocols.
        In short, the survival mode of Web3.0 is completed across application platforms, virtual and reality. Privacy: transfer of data ownership and value. Data privacy has become the focus of global regulation. The current solution is to strengthen legal protection and make users aware that stealing user data is illegal; Second, privacy computing is introduced to ensure that the data is invisible in plaintext during use through homomorphic encryption, multi-party secure computing, trusted execution environment and other technologies. In the era of Web3.0, users will tend to protect personal data privacy in a more thorough way, thus causing the transfer of data ownership and value. With the decentralization of applications and the availability of data on the chain, user behavior, generated data and even application protocols also need to be protected.
        Privacy protection is multifaceted, including basic blockchain platform privacy protection, storage data privacy (distributed storage), user private key management, anonymous protocol, etc. Dao: a network world of co construction, common governance and shared value. The construction of Web3.0 ecology, such as applications, tools and protocols, can not be separated from collaboration. The organizational form of orderly collaboration among users is called Dao (decentralized autonomous organization). The full name of Dao is decentralized organization. Users are organized and formed by common goals. They use blockchain technology and smart contract procedures to formulate and implement rules, so as to achieve a form of community self governance that can ensure fairness.
        The content creation of users in Web2.0 Internet applications is limited in many aspects (limited by platform review and cross platform restriction), and it is even more limited in community governance. Therefore, it limits the value capture of users in the economic sharing of creators. The openness principle of Web3.0 will break these restrictions, and the incentive mechanism of blockchain will effectively feed back the value of content economy to creators. Blockchain technology is the core technology foundation for the establishment of Dao form. The organization rules are written through the blockchain smart contract, and the execution is guaranteed by the program. At the same time, the rules are stored on the block and cannot be easily tampered with. During the establishment of Dao, value creation, distribution and circulation will also occur.
        Dao is established in user interaction and continuously creates value in the interaction. Dao distributes the value by issuing project tokens and NFT, so that users can enjoy the governance rights and income rights of Dao. Dao tokens and NFT can also circulate in defi. As an organizational form in the Web3.0 era, Dao is quite different from the traditional organizational form in terms of organizational structure, organizational rules, and ownership of rights. Dao has the following advantages: organizational rights are distributed to all organization members in the form of organizational tokens, thereby realizing community autonomy and rights distribution, thus greatly stimulating the participation and enthusiasm of organization members, and playing an important role in promoting the construction of Web3.0 community projects.
        The current Dao is mainly built on the Ethereum blockchain network. This is because Ethereum has established a distributed and decentralized smart contract platform. Dao needs to rely on smart contracts to make the governance rules procedural, so as to ensure that Dao can operate according to its written rules. Objectively speaking, Dao is still in the embryonic stage of development and has many shortcomings: 1) it depends on programs and may have bugs; 2) Preset rules lack flexibility in execution and are not suitable for handling complex situations; 3) The Dao governance model is not perfect and there are governance loopholes. At the current time, due to the shortcomings of Dao, it is not possible to fully rely on the automatic execution of the program. Therefore, the governance mode of most Daos at present is the combination of on Chain Governance and off chain governance & mdash& mdash; Through smart contract programming on the blockchain, most simple, highly repetitive and frequently invoked rule execution settings are completed. At the same time, complex rule governance is carried out by setting up an executive committee and voting by Dao users.
        In the era of Web 3.0, the meta universe will be a network form full of imagination and creativity. In the web2 era, people are used to taking "virtual world" and "real world" as the boundaries of the online and offline worlds. The meta universe built on the basis of Web3 will be the deep integration of the so-called "real world" and "virtual world". There are obvious ecological boundaries in the Internet in the web2 era (this is the result of the operation mode of centralized companies). An Internet giant controls the core access of the ecology, and there are relatively few cross Ecological Applications & mdash& mdash; For example, cross ecological restrictions of online payment tools and screening of hyperlinks between important Internet application portals.
        The so-called Internet applications are actually restricted to activities in different ecological areas. In the metacosmic world of Web3 era, the "gap" and boundary of web2 era will be broken. In addition to the cross chain applications mentioned in the above chapters that solve the integration between different main chain ecosystems, the meta universe world and the so-called "real world" will continue to integrate. For example, an entity in a meta universe can not only engage in economic activities in the defi market, but also hold real-world assets and interests. That is to say, there is no separation between the "virtual world" account and the "real world" account system for the assets in the meta universe. The meta universe will be a fusion form of "real world" and "virtual world".
        It is generally believed that although the world of the meta universe is jointly built by users and different applications can be freely connected and integrated through various means, the virtual world of the meta universe cannot be connected with the asset accounts of the real world. Because the real world has ecological isolation, the "external meta universe" cannot enter the ecology of the current web2 era. In 2021, the government issued corresponding policies to vigorously support the development of Web3.0 related industries. The 14th five year plan has repeatedly mentioned the need to vigorously develop blockchain technology, and at the same time, it is necessary to increase the development and construction of meta universe related technologies such as immersive video, virtual reality, 8K HD video, etc. The State Council and local governments have issued policy documents to vigorously promote the construction of local meta universe related industries.
        At the same time, the government implements strict supervision on virtual currency. In 2017, the central bank issued an announcement, pointing out that virtual currency does not have the function of legal currency, and relevant risks should be paid attention to. In September 2021, the national development and Reform Commission and other 11 departments issued a notice to prohibit the addition of virtual currency "mining" projects, and at the same time, accelerate the orderly withdrawal of existing projects, and comprehensively prohibit "mining" activities. The application of blockchain technology has been gradually implemented in finance, logistics, digital copyright, insurance and other fields. In the financial field, the cost of financial transactions will be reduced and the transaction payment will be completed quickly. In the logistics field, it can reduce the logistics cost and trace the production and transportation process of goods.
        In the field of digital copyright, works can be authenticated to ensure the authenticity and uniqueness of ownership. In the insurance field, through the smart contract application, the insurance policy can be automatically triggered. The regulatory challenges brought by Web3.0 are undoubtedly enormous. Under the background of openness, privacy and co construction, it does not mean that Web3.0 applications do not need regulation. However, there is no doubt that due to the great innovation of the business model of Web3.0 application, the regulatory mode is bound to undergo great changes to adapt to the development of new things. Therefore, in the era of Web3.0, the regulation will show the following development trends: 1) for the channels / businesses that communicate between the two worlds of Web3.0 and Web2.0, they will be the first to find a suitable regulation mode to adapt to the development of Web3.0:.
        2) In terms of privacy and anonymity, it is possible to realize KYC at the bottom layer and moderate anonymity at the application layer: for the privacy and anonymity functions brought by the distributed network, on the one hand, there is a need for privacy and anonymity; on the other hand, not privacy and anonymity means that supervision will be completely ignored. In the real world, regulation must exist, and Web3.0 will also explore the integration of China and regulation. One seemingly feasible approach is to implement supervision at the bottom of the blockchain network, which means that there will be KYC and other regulatory constraints on the bottom account, and moderate anonymity at the intermediate protocol layer and application layer. Of course, the means of supervision are also flexible. User KYC and other information can be stored in the multi sign network participated by the supervision.
        3) In the process of Dao governance, it is bound to introduce regulatory work
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