Social Networking Forum·355 discussions

Web 3.0 Blockchain, the Decentralized Web, Defined ?

Locked

Tags: Browser, Google, Networking

Blockchain’s Big Bang: Web 3.0

The potential of blockchain is enormous as it will be a foundational protocol for the next generation Web 3.0 which we expect will overtake the current Web 2.0 in 5-7 years.

To summarize, blockchain technology will be a foundation protocol of Web 3.0 blockchain Market, which will support peer to peer transactions and communications that eliminate the need and functions of Web 2.0 central authorities and ‘gatekeepers‘ such as major search engines and social media sites. Blockchain-based peer to peer transactions will range from value transfers of cryptocurrencies and other digital assets, to anonymized identity information and financial accounts that users control.

Web 3.0 will transform us from Web 2.0’s monetization via surveillance capitalism and advertising to monetization built directly into the protocol that is equally available to any connected user.

Topic

[rproffitt]

Seems to be the foundation for scams.

In reply to Web 3.0 Blockchain, the Decentralized Web, Defined ?

Take a look at https://web3isgoinggreat.com to see how badly Web 3.0 is going.

Today’s lead story is “20 million Optimism tokens sent to nonexistent address, someone else snags them before they can be recovered.”

Next is a game that has been rug pulled. “Players Only NFT project, founded by NBA players, rug pulls for $1.4 million

Crypto-sleuth zachxbt reported on June 8 that Players Only, and NFT project created by a group of NBA players including Michael Carter-Williams and Jerami Grant, appears to be a rug pull. The players used their star power to drum up interest in the project and its somewhat unsettling NFTs of various bobblehead-esque sports players. The project promised close involvement from the athletes who founded it, with a roadmap advertising autographed merchandise, real life and metaverse meetups with the players, and other giveaways.”

—> Web 3.0 seems to be all about the scam! <—

• This reply was modified 2 years, 3 months ago by rproffitt.
• This reply was modified 2 years, 3 months ago by rproffitt.
• This reply was modified 2 years, 3 months ago by rproffitt.
• This reply was modified 2 years, 3 months ago by rproffitt.

Web 3.0 Blockchain, the Decentralized Web, Defined

In reply to Web 3.0 Blockchain, the Decentralized Web, Defined ?

With Web 3.0, instead of a centralized database, applications and services make use of a decentralized blockchain. With blockchain, the basic idea is that there isn’t an arbitrary central authority, but rather a form of distributed consensus.

Web 3.0 Is Going Great. Check it out.

In reply to Web 3.0 Blockchain, the Decentralized Web, Defined

There is consensus that this is creating more, not less scams.

Web 3.0 Blockchain

In reply to Web 3.0 Blockchain, the Decentralized Web, Defined ?

With Web 3.0, instead of a centralized database, applications and services make use of a decentralized blockchain. With blockchain, the basic idea is that there isn’t an arbitrary central authority, but rather a form of distributed consensus.

Which is why it’s going great?

In reply to Web 3.0 Blockchain

From https://web3isgoinggreat.com

“A former employee of Terraform Labs, the company behind the Terra project that collapsed in May, found that he was banned from leaving the country. According to the former employee, he wasn’t notified at all: “when i found out about this, the south Korean prosecution told me they usually don’t notify people of this because they might destroy evidence and/or leave the country beforehand”.
He later clarified that he was willing to cooperate with the investigation against TFL, but was dismayed that employees who left long before the collapse were facing an exit ban, and that they weren’t notified of the ban.

Terra is facing a class action lawsuit from Korean investors, and local news had previously reported that South Korean authorities had launched an investigation.

Tweet by Daniel Hong”

Web 3.0 means

In reply to Web 3.0 Blockchain, the Decentralized Web, Defined ?

Web 3.0 means distribution of data across the internet so that it become decentralized. Here blockchain technology is doing same. Hence Web 3.0 is a term used for new internet era which tell us about new features of internet. Here blockchain technology is providing those features to us. So blockchain technology is based on web3.0 term.

Let’s check today’s Web 3.0 is Going Great news.

In reply to Web 3.0 means

“The Spanish cryptocurrency platform 2gether suddenly announced that they were “forced to close service for private accounts” due to “lack of resources and crypto winter”. Users found themselves unable to access their accounts via the website or the app, which showed an “under maintenance” message. The company also closed all social media accounts. The previous day, the company had announced they would begin charging a €20 ($20.33) fee for users because it was “impossible to maintain the free service”, but apparently decided to go much further. Around 100,000 users found themselves unable to withdraw their funds.
2gether had previously made news in August 2020, when hackers stole 114 Bitcoin and 276 ETH—then worth around €1.183 million ($1.2 million), and representing 15% of customer funds. The company successfully raised €1.5 million ($1.52 million) in a financing round several months later to cover the loss.”

Looks like another win for Web 3.0?

Defined

In reply to Web 3.0 Blockchain, the Decentralized Web, Defined ?

Web 3.0 describes a broad range of emerging Internet applications being built on blockchain technology—a decentralized, public database that allows information to be securely recorded on a network of computers rather than verified and controlled by centralized entities.

[rproffitt]

Let’s check today’s Web 3.0 is Going Great news.

In reply to Defined

“Curve Finance frontend compromised
A rainbow-colored 3D rendering of a curved shape(attribution)
Curve Finance’s frontend at curve.fi was compromised, prompting users to give token approval to a malicious smart contract. Stolen funds were then transferred out to the FixedFloat cryptocurrency exchange and the Tornado Cash tumbler. It appears that at least 362 ETH (~$620,000) have been stolen.
Curve acknowledged the apparent exploit, tweeting at the iwantmyname domain platform to say they believed the issue was on their end. Around an hour after the issue was widely noticed, Curve announced the “issue has been found and reverted”, and to use the alternate Curve Finance domain until DNS changes propagated for the affected domain. They also urged users to revoke any recent contract approvals they’d made on the Curve platform.

FixedFloat tweeted that they had been able to freeze 112 of the stolen ETH (~$192,000) that had been transferred to their platform.”

Looks like another win for Web 3.0?

• This reply was modified 2 years, 1 month ago by rproffitt.
• This reply was modified 2 years, 1 month ago by rproffitt.
• This reply was modified 2 years, 1 month ago by rproffitt.

Reply To: Web 3.0 Blockchain, the Decentralized Web, Defined ?

In reply to Web 3.0 Blockchain, the Decentralized Web, Defined ?

Blockchain is as of now not just about bitcoin or cryptographic forms of money overall. All things considered, it tends to be viewed as a problematic, progressive innovation which will significantly affect numerous parts of our lives. The progressive force of such innovation contrasts and the upset started by the Internet and the Web overall. Similarly as the Web is a method for sharing data, so blockchain innovations should be visible as a method for presenting a higher level: sharing worth.

Blockchain and Web 3.0 fills the hole in how we might interpret blockchain innovations by facilitating a conversation of the new advancements in various disciplinary settings. To be sure, this volume makes sense of how such advancements are problematic and similarly inspects the social, monetary, innovative and lawful outcomes of these interruptions. Such a near viewpoint has recently been underemphasized in the discussion about blockchain, which has hence prompted shortcomings in how we might interpret decentralized advancements.

“Helium ditches its blockchain”

In reply to Reply To: Web 3.0 Blockchain, the Decentralized Web, Defined ?

Let’s check today’s headline at https://web3isgoinggreat.com/?id=helium-ditches-its-blockchain

“Helium seems to have realized, finally, that blockchains tend to be slow as hell. In a blog post about the change, they wrote that “specific transactions, including Proof-of-Coverage and Data Transfer Accounting, are processed on-chain unnecessarily. This data bottleneck can cause efficiency issues such as device join delays and problems with data packet communications, which bloats the Network and causes slow processing times.” They outline their plans to move these portions of the project to a “more traditional large data pipeline”—that is, infrastructure that’s actually well-suited to that kind of processing.”

Sometimes a hole is just a hole.

[Author]

Replies