What is Web3?
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Scams for the most part
Web1 was all static webpages like magazine articles, product information, and oodles of geocities pages
Web2 was the addition of user generated content. Forums, youtube videos, blogs, Twitter, MySpace, Facebook, etc. Basically you could participate and add content to the broader internet without having your own personal web sites
Web3 is based on “decentralization, blockchain technologies, and token-based economics”, aka things that already exist as much as feasible, things that aren’t novel, and scams.
One of the key metrics for if a social media site even works is if there are a lot of users centralized on it, if you break it all up across dozens or hundreds of smaller clusters they all fail which is why we really only have a half dozen or so.
Blockchains also aren’t novel, we’ve had ledgers for millennia, blockchains are just a computationally inefficient way to store a ledger viewable by the public.
And finally token based economies, aka worthless NFT scams. Buying an NFT of a picture doesn’t prevent thousands more from being created, its not even something you can have. The NFT is basically just buying a copy of the certificate of authenticity but not actually getting the item that is certified to be authentic.
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