Web3 Reference Architecture

The key characterizations of web3 are: d ecentralized, e dge computing infrastructure,  AI-driven,  3D Graphics (aka the Spatial Web), t ransparent/open source, a nonymous, u biquitous (IoT)

Web3 provides a new paradigm for managing and enabling transactions. In the management of markets, the single biggest shift enabled by Web3 is the unbundling of market infrastructure from market governance.

Web3 is a new vision of the internet. It takes us away from today’s centralized internet, where data is stored in servers managed by trusted counterparties like Facebook and Google, to a decentralized internet, where a trustless network of peer-to-peer servers manages and verifies data.

The success of web3 hinges on innovation to solve new security challenges created by different application architectures. In web3, decentralized applications or “dApps” are built without relying on the traditional application logic and database layers that exist in Web 2.0; instead, a blockchain, network nodes, and smart contracts are used to manag... See more

1) No -- Web3 is best understood as a sort of ‘economic’ extension of Web 2.0,

Web3 is best defined as a decentralized online ecosystem based on the blockchain. Access to data and machine analysis will also be extremely commodified, which will make continuous learning and human-skills development a must.