Web 3.0 is a word that has been often mentioned in the blockchain, and there are divergent opinions on its interpretation. Some people say that it is a new Internet stage represented by Dapp; others say that it is an iterative upgrade that is different from the current Internet, and it is also called the Internet of Value.
Such a simple description may still be difficult for people to understand. In our daily Internet world, various forms of data information display exist. The boundary between Web 1.0 and Web 3.0 may not be so clear. We can only gradually clarify it from its characteristics.
The distinction between Web 1.0, Web 2.0 and Web 3.0
Taking Internet digital information as the foundation, we should consider the following 4 questions:
Who created it? Who owns it? Who manages and controls it? How is the value distributed? Based on this standard, a distinction can be made between Web 1.0 and Web 3.0.
The characteristics of Web 1.0 are: platform creation, platform ownership, platform control, and platform get all benefit.
Web 1.0, the first generation of the Internet, is a static Internet, and its main application is network media. Various online media hire a large number of editors to publish content with pictures and texts into web pages. Readers visit websites and browse digital content, but they can only read but not write, and cannot participate in content creation.
The characteristics of Web 2.0 are user creation, platform ownership, platform control, and platform distribution.
In the Web 2.0 stage, the platform only provides infrastructure. There is very little content created by itself, and most of the content is created by users. However, the platform quietly expanded its rights, relying on its control over the technical infrastructure, and took the ownership of user data.
The characteristics of Web 3.0 are user creation, user ownership, user control, and protocol distribution.
In Web 3.0, the ownership of the digital content created by the user is clearly owned by the user and controlled by the user. The value created by the user is distributed according to the agreement signed by the user and others. Under this system, these digital contents are no longer simple data, but digital assets, because its rights are guaranteed at the asset level.
The technical basis of Web 3.0 is blockchain and oracles
From the above characteristics, it can be seen that the major change of Web 3.0 lies in the control, confirmation and distribution of data assets. The key to achieving this change lies in the blockchain and oracles.
Blockchain is a transparent and credible right confirmation and traceability system. Once a right is digitized into a pass on the blockchain, it can be reliably confirmed, and its circulation, transactions, conversions, and deformations can be tracked throughout the entire process. The whole process: Blockchain can also realize the separation between “infrastructure management rights” and “user data control rights”, preventing a single platform from managing power through computing infrastructure and realizing the control of user data, user assets, and user identities.
Smart contract is the distribution agreement of rights and value in the blockchain system. It replaces the legal language to record the terms through computer language and is automatically executed by the program. As long as the trigger conditions of the smart contract are reached, efficient, accurate and credible execution can be obtained. And the whole process can be audited.
The oracle can not only connect the real world and the blockchain system, and send off-chain data to the chain, but also help the smart contract to achieve trigger conditions (when the smart contract trigger condition comes from off-chain information, the oracle is necessary), This can effectively solve the problem of asset ownership and agreement distribution in Web 3.0.
Take the ADAMoracle as an example:
With the unique consensus mechanism of the blockchain, the smart contract cannot interact with off-chain data providers or API services, so it is impossible to verify whether events in the real world have occurred. Through the ADAMoracle, smart contract not only can obtain off-chain data, but also output on-chain data to off-chain systems. ADAMoracle can not only bidirectionally connect smart contracts on the chain and the world off the chain, but also provide a secure framework to prevent single-point failures such as data manipulation and node error.
Through ADAMoracle, tokens can be used to represent off-chain assets. Many projects put real-world assets on the blockchain and use tokens to represent them. Compared with traditional off-chain assets, tokenized assets can open the door to investors around the world, obtain liquidity without permission, improve transparency and reduce transaction friction.
Filter security issues or unaudited smart contracts through ADAMoracle. The blockchain audit company accesses ADAMoracle to put secure data on the chain, including smart contract audit results, intrusion testing of centralized exchanges, and bug bounty tasks. These data can be transmitted to smart contracts to filter out dangerous or unaudited smart contracts. Users can use ADAMoracle to directly verify the audit results on the chain, which will activate a series of brand new application scenarios, including automatic investigations before launching high-value transactions or escorting other people’s funds.
Generate important verifiable NFT or create NFT attributes through ADAMoracle. At present, many game items are issued in the form of NFT, and each token is unique. ADAMoracle generate important verifiable NFT or create NFT attributes for the game as a preset game achievement reward. In addition, ADAMoracle can also create NFT based on off-chain data and time, such as aircraft flight information data or the results of sports events.
The Web 3.0 era is becoming reality
The current Internet is the coexistence of Web 1.0, Web 2.0 and Web 3.0, but the Web 3.0 infrastructure represented by the ADAMoracle is constantly improving, and Web 3.0 applications are also constantly being popularized. I believe that the new Internet business model will definitely change people’s lifestyles and build a more humane, transparent and safe world. This process will last about 10–15 years, and the result will be a complete reshaping of the Internet and the global digital economy.
Focusing on emerging concepts such as NFT and metaverse, the Web 3.0 era will emerge with a number of global giant platforms, as well as a hundred times more entrepreneurial heroes, and a thousand times more rich digital assets, but we may not see what it is today Social network empires and digital oligarchs. Digital economies that fail to integrate into this movement may completely fall behind within 15 years.