What is Web 3.0? #Blockchain Explained with Joe Lubin - #4

Joe examines many problems with the internet giants of today (i.e. Facebook, Twitter, Google, Netflix) and how they take advantage of the individuals who use their platforms, stating, “By addicting us to their systems they keep us sellable.” He continues to describe the misalignment of incentives which has resulted in humans becoming the product as... See more

“Web3” as we think of it today was introduced in 2014 by Gavin Wood, one of the cocreators of Ethereum. Wood’s compact definition of Web3, as he put it in a recent Wired interview, is simple: “Less trust, more truth.”

Web3 (or Web 3, or Web 3.0) is an umbrella term for various efforts to reshape the web in order to:

• Make it easy for users to control their own data and content and move between different apps and platforms;


• Enable users to receive a share of the revenue their online activities generates for the platforms and apps they use; and


• Enable web users and ap

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Unlike Web 2.0 applications like Medium, Web 3.0 eliminates the middle man. There’s no centralized database that stores the application state, and there’s no centralized web server where the backend logic resides.