Web3 is the third generation of the World Wide Web. It is a decentralised network that allows users to connect and interact with each other without the need for a central authority. Web3 is powered by blockchain technology and can be thought of as an evolution of the existing internet.
The first generation of the internet was defined by its ability to connect people and share information. The second generation, known as Web 2.0, saw the rise of social media and the development of new ways to share and consume content. Web3 is the next stage in the evolution of the internet, where users are in control of their own data and can interact with each other without the need for intermediaries.
What Is the State of Web3 Today?
Web3 is still in its early stages of development and there is no single solution that has been agreed upon by the community. However, there are a number of projects and initiatives that are working towards building the infrastructure for Web3.
One of the most important aspects of Web3 is the ability to connect different blockchains and allow them to interact with each other. This is known as interoperability and is a key priority for the development of Web3.
To explain this concept, let’s take a look at an example. Imagine you have two different computers that are not connected to the internet. If you want to transfer a file from one computer to the other, you would need to physically connect the two computers with a cable. However, if both computers were connected to the internet, you could simply send the file over the internet.
This is what interoperability enables. It allows different blockchains to connect with each other and share data. This is a crucial step in the development of Web3, as it will allow different applications and services to be built on top of different blockchains.
The current of Web3 in 2022 is growing at a rapid pace with new projects and initiatives being announced all the time. While there is no clear roadmap for the development of Web3, the community is working hard to build the infrastructure that will power the next generation of the internet.
Types of Necessary Web3 Infrastructure
There are a number of different types of infrastructure that are necessary for Web3 to function. These include:
- Blockchain protocols
These are the underlying rules that govern how a blockchain works. Ethereum is one of the most popular blockchain protocols and is responsible for powering many of the applications built on Web3.
- Decentralised exchanges
These are platforms that allow users to trade cryptocurrencies and other digital assets in a peer-to-peer manner.
- Storage solutions
These are platforms that allow users to store their data in a decentralised manner.
- Identity solutions
These are platforms that allow users to manage their digital identity in a decentralised manner.
Why You Should Build in Web3?
There are a number of reasons why you should consider building Web3 infrastructure today:
1. To enable users to control their own data
One of the key advantages of Web3 is that it gives users control over their own data. With traditional web applications, user data is often stored centrally on servers controlled by the service provider. This means that users have to trust the service provider to keep their data safe and secure.
2. To enable decentralised applications
Another key advantage of Web3 is that it enables the development of decentralised applications (dApps). DApps are apps that run on a decentralised network, such as a blockchain. This means that they are not controlled by any single entity.
3. To create a more open and fair internet
One of the goals of Web3 is to create a more open and fair internet. This is because traditional web applications are often controlled by a few large companies. By contrast, with Web3, anyone can build and deploy an app on the decentralised web.
4. To help build the future of the internet
By building Web3 infrastructure today, you will be helping to build the future of the internet. This is because Web3 has the potential to completely change the way that we use the internet.
5. To get involved in a rapidly growing community
The Web3 community is rapidly growing and there are many ways to get involved. There are a number of projects looking for contributors, and you can also join one of the many online communities dedicated to Web3.
Web3 Is the Future
Whether we like it or not, Web3 is here to stay. It is the future of the internet and there are many reasons why you should consider building Web3 infrastructure today. By doing so, you will be helping to build the future of the internet and enable a more open and fair web for everyone.
Web3 is still in its early stages, but the potential is there for it to completely change the way we use the internet. If you’re interested in being a part of that future, then you should consider building Web3 infrastructure today.
Get Started Building on Web3 With RockX
Leverage RockX’s established access nodes to gather on-chain data, historical data and analytics or to support new blockchain assets using one of RockX’s nodes. RockX’s access nodes utilise a hybrid cloud architecture and backup nodes to avoid any single point of failure, around-the-clock monitoring, and quick implementation of security fixes and upgrades to ensure the best possible performance and security. Check out RockX’s access node API portal and get free access to all major PoS chain data today!