Project Vellir - Private Site Access

2) Sort of -- key aspects of Web 2.0 will be better performed by Web 3 systems and there will be a symbiotic relationship between two parallel but similarly powerful models.

Web3 is the internet owned by the builders and users, orchestrated with tokens. 

Web2 (early 2000s-today) is read and write. People create and consume content on the social platforms that we're all familiar with. In web2, tech giants extract value from users by sitting in the middle. Web2 is built on client-server architecture where users are the client, and companies control the servers.

Web3 (2020+) is read, write, and own. People create, consume, and own the upside of their work through tokens. Web3 is built on peer-to-peer networks of computers that talk to each other without middlemen.

3) Yes -- over time, all of the key aspects of Web 2.0, including centralized social networks, will be replaced by web 3-style user-owned and governed protocols.

But many of the web 3.0 advantages are hard to adopt as a large, existing, web 2.0 company. The big ideas: ownership, collaboration, and community are new foundational principles.

 The core difference lies in how Web3 projects are owned and governed. In Web3, the roles of owners, users, and investors are less distinct and can sometimes overlap. The contributors to many Web3 projects consist of developers, team members, and enthusiastic community members—all working together to grow the project.

Despite web3 being an internet based around user ownership, we’re still quite limited in how we can use and display most of the assets we own. Much like today’s social networks have siloed users into a handful of content types and displays, today’s wallets limit our asset engagement and display options to simple showcases or galleries.