Web3.0-Decentralized Network
In the early 1990s, the WWW revolutionized information technology. Ten years later, the Internet has become more mature and procedural. We saw the rise of the so-called Web2.0, which brought us social media and e-commerce platforms. It revolutionized social interactions, brought producers and consumers of information, goods and services closer, and enabled us to enjoy P2P interactions globally.
But there is always a middleman: a platform acts as a trusted intermediary between A and B (not knowing or not trusting each other). Although these platforms do a great job of creating a P2P economy and have a more sophisticated content discovery layer, they also specify all the rules of the transaction, and these platforms have all of our data.
In this case, the blockchain seems to be the next generation Internet, the driving force of decentralized networks or Web 3.0. Blockchain allows us to implement real P2P transactions without mediation. Bitcoin is the first use case. Although Bitcoin is a P2P currency that is not issued and managed by banks, the technology that now brings us Bitcoin allows us to build taxis without Uber, without Airbnb's shared apartments and without social media for Facebook and Twitter.
Eliminating Servers: Redesigning Data Structures
We first had computers and then we began to connect to computers via Internet protocols. In the early days of the personal computer, we once saved the data on a floppy disk, popped up, walked around to the colleague who needed the file, inserted the floppy disk into his computer, and then copied the file to their computer so that they could use the file.
The data is stored centrally on a physical device and needs to be copied when data is transferred. The Internet has made these copies faster and has greatly reduced transaction costs.
In the 30 years of the large-scale use of the Internet, most of our data architecture is still based on client-server. This means that our data is stored centrally on one computer and retrieved by another computer on the Internet via the Internet. Although we live in a more connected world where each device is connected to the Internet, whether it is a toaster or a refrigerator, data is still stored centrally: on our devices, on USB sticks, and even in the cloud.
This raises the question of trust: Can I believe that the people and institutions that store my data can deal with any kind of damage: internal or external, man-made or mechanical failure, intentional or accidental? This centralized data structure has unique points of failure. It's as if we have never invented the Internet.
From data dictatorship to data democracy
Since the 1990s, P2P data architecture has existed, and file sharing programs such as BitTorrent and Tor browsers have become famous in these architectures. Combining cryptography and game theory incentives, blockchain has elevated the P2P architecture to a new level. We can now begin to shift from a centralized data structure where all data is stored on a central computer to a more distributed or fully distributed data structure.
In Web 3.0, we are redefining the data structure given that we live in an interconnected world. Blockchain is just one of many technologies in this decentralized network stack. This is very important. Although blockchain is a good P2P way to record who did what and when, but storing large amounts of data is not ideal for two reasons: (1) Scalability: Blockchain is too slow, And (2) Do not allow privacy design: Never store private data on the blockchain.
Web3.0 technology stack
Similar to building standard web or mobile applications, creating a dApp usually requires several things: calculations, file storage, external data, monetization, and payment. In the past four years, communities have made great progress in building ecosystems.
Although building a dApp in 2014 cannot be done, in 2017, it is feasible to build a basic dApp that requires minimal computation and file storage overhead. The Web3.0 ecosystem has taken a long step toward building a technology stack. Here are some selected graphics:
The transition from client-server Internet to decentralized networks will be gradual rather than radical. As the decentralized network stack continues to mature, it seems that it is shifting from centralized to partially decentralized and fully decentralized. In addition, although decentralized architectures are more fault-tolerant and aggressive, they are also slower.
Although the future of the Internet may be more fragmented, this does not mean that we will be completely free from centralized systems. A centralized system also has advantages and may prevail, but it is limited to specific use cases.
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