Twitter Co-Founder Jack Dorsey Joins Elon Musk In Questioning VC-Controlled Web3 Hype …

Web3, hyped as the subsequent large factor that can exchange the web, is being constructed on blockchain know-how and its proponents say it will likely be decentralized with no single level of failure — in different phrases, distributed away from central, authoritative decisionmakers.

Nonetheless, Twitter co-founder and former CEO Jack Dorsey and Tesla CEO Elon Musk, arguably two of the most important stakeholders within the web because it exists at present, have been questioning simply how decentralized Web3 will probably be.

Whereas some see Web3 as the way forward for the web, Dorsey is suspicious of the large volume of venture capital pouring into the house and unimpressed by Web3 advocates’ claims of “true decentralization.”

Web1 refers back to the first stage of the World Extensive Internet evolution, the place the large majority of customers have been consumers of content material. Web2 refers back to the web which highlights user-generated content material. 

Main the way in which of the longer term, Web3 is mostly being constructed by these concerned in blockchain smart-contract platforms comparable to Ethereum, Bitcoin, EOS (the blockchain-based entrepreneurial working system) and TRON, one of many largest blockchain-based working programs on the planet. 

1. What's Internet 3.0?

Web3 is the subsequent soar in how individuals use the web. 

– Web1 was the "learn solely" period. 🔍
– Web2 was the social media revolution. 💃

And Web3 is decentralization. ⚒️

— Kacie Ahmed (@Haezurath) October 11,  » Read more from