Odyssey DAO - What Is Web3?

Tokens can be fungible or non-fungible:  Fungible tokens are interchangeable (e.g., the US dollar, bitcoin).  Non-fungible tokens (NFTs) are unique (e.g., a piece of art).  

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.

Web1 (1990-early 2000s) was read-only. People consumed static webpages that they navigated to from directories like Yahoo. Web1 was built on open-source protocols like HTTP.

With trust comes ownership. By reducing the middleman tax, people can finally own the upside from their work. Web3 matters because we're building an internet owned by people instead of middlemen.

Crypto has one feature that has never existed before - trust. - Ben Horowitz

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.

Web1: Read,  Web2: Read, write,  Web3: Read, write, own