![]() ![]() However, proponents of the Bitcoin blockchain (the original blockchain) tend not to be so bullish about Web3. Web3 has become a hot trend because it’s being positioned as a new way to develop web applications, by using blockchains - and specifically, the Ethereum blockchain. In addition to the technical deficiencies of Web3, there’s a schism among crypto fans about its validity. What’s more, in a follow-up column, I showed that much of the infrastructure in Web3 today is exactly the same as Web 2.0 - servers owned by corporations. But the fact that Web3 decentralization relies on the adoption of blockchains is a serious technical weakness, for reasons I outlined in a previous column. The word “centralized” has been weaponized by Web3 fans, much like the word “boomer” was by millennials. Follow him on Twitter Web3 fans do talk about technical attributes, it’s usually to argue that Web3 is a decentralized version of the web that will somehow dethrone the aforementioned tech giants of today. Previously he founded ReadWriteWeb in 2003 and built it into one of the world’s most influential technology news and analysis sites. ![]() ![]() Richard is senior editor at The New Stack and writes a weekly column about web and application development trends. But Web3 is also attractive, in that Web 2.0 platforms like Facebook and Google have become too powerful and potentially even dangerous (privacy issues, disinformation, etc.) Web3 purports to be an antidote to Web 2.0. Repellent because most of the discourse around Web3 has very little to do with technical architecture, and almost everything to do with speculation on cryptocurrencies and NFTs (non-fungible tokens). I find the Web3 hype both repellent and attractive. Through an influential essay and a constant stream of Twitter threads, Dixon has turned himself into the new Tim O’Reilly - the tech publisher who co-invented and then popularized the term “Web 2.0” back in the 2000s. The main mouthpiece of Web3 has been Chris Dixon, a partner at 16z. It’s been relentlessly hyped this year by cryptocurrency enthusiasts and investors - and in particular, the venture capital firm Andreessen Horowitz (a16z). Love it or hate it, the term “Web3” has quickly become the latest catchphrase in Silicon Valley. ![]()
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