The World Wide Web is perhaps the biggest technological advancement that revolutionized communication and accessibility to information. Web3 is the current tech advancement, causing a stir across the sectors. It is based on blockchain technology that comes with clear pros over the existing technologies. Web3 is opening the door for decentralized social networks, but how far can it go?
In the same way that online casinos are revolutionizing the gambling industry, Web3 is transforming social networking. Top casinos like 7 Slots offer fantastic services with the utmost convenience for gamblers. The principle behind newer technologies is to improve the pre-existing infrastructure. Let us go back. Web 1.0 was prominent in the 90s and 2000s, and it involved users taking up the content. There was not much content production since it involved setting up and hosting a site.
The next era was Web 2.0, which made content production easier through networks, blogs, and others. It fostered creativity and innovation among people since they could express themselves. However, it was criticized because big corporations started controlling the flow of content, data, and the internet at large. This was highly criticized by smaller corporations that felt like it was a form of gatekeeping. These are the weaknesses that make the technology revolutionary.
Web3 comes with decentralization, which introduces blockchain technology to the whole setup. Data is encrypted and stored over a network of computer systems without any control from central power. All the data becomes impossible to change because copies are present across the network, and if one does not match the rest, it is invalidated. Hence, security is guaranteed because the server location does not matter. Only the owner of the info can modify the data. However, not even the owner of the server has such powers.
Web3 has given birth to a new era of decentralized social networks that are owned solely by the users. The key principles of these networks are privacy, decentralization, and full ownership. The people who create content have full control of their data. Security is certain, and the risk of data breaches is significantly reduced because no personal info is stored in centralized servers. The information is highly encrypted and stored in a distributed network system.
Another advantage of this decentralization is the independence it grants to the users. They have the perfect avenue to freely express their views on diverse topics without being suppressed by any central power. In Web 2, where views were expressed on sites like Facebook and Twitter, it was possible to moderate content. The central authority could make censorship decisions, and the user would have little or no say in it. In Web3, the decision is decentralized, hence, only a consensus between everyone in the network would moderate the content. The community is allowed to govern itself leading to some form of democracy in policy formulation.
This system also promotes trust by ensuring that transparency is upheld at all times. Blockchain makes use of smart contracts and public ledgers that can be verified and audited by users for the sake of fairness.
The main social networks that run on this platform include Mastodon, Steemit, and Peepeth. Mastodon is a microblogging site that works on a federated model. It facilitates seamless engagement between users with maximum autonomy. Peepeth, on the other hand, works on the Ethereum blockchain. It also facilitates engagement among users flawlessly. However, it has a charge for all actions taken on the platform to encourage only real users to engage. This leads to minimal or no spamming.
Lastly, there is Steemit, which also utilizes the blockchain technology. It stands out because it has a reward system for people who create content on it. People who carry out meaningful engagements get an incentive for it. It has a cryptocurrency, STEEM, which it uses to award its users.
The future of Web3 social networks is rich, so we are likely to have more social networks stemming up. They will have super features while the existing ones will keep refining their services to attract more users as this technology continues to gain traction.
The future of Web3 is promising since there will be significant improvements to its current state. There will be further technological advancements, which will provide solutions to some of its biggest problems. Here are some of our expectations:
As the demand for Web3 social networks increases, more sites will come up and the competitiveness will force them to create excellent user experiences. There will be an enhancement of the user interfaces, interactive options, and sign-up processes. Some of the current platforms are user-unfriendly because of complicated technicalities that make them hard to adopt. They will be simpler and more intuitive in the future and, hence, more accessible for users. The Web2 sites also experienced significant growth in their lifetime, so we do not expect less from this technology.
Scalability is another challenge that has been facing Web3. The distributed data storage and processing requires the development of scaling solutions and sophisticated infrastructure to handle. Efficiency and seamlessness are critical to any social network. The current platforms are naturally built to handle the masses. They cannot get a crash if they get a sudden influx of users. However, the decentralized systems do not enjoy the same privilege. Hence, scalability is a major concern that will be addressed aggressively in the future.
The decentralized system boasts total autonomy and community-based governance and regulation. However, this can be a challenge if fairness must be maintained. It must create processes that will assist in establishing consensus and make community guidelines. Even with decentralization, these social networks will eventually be forced to work within a certain legal framework. Hence, a lot of work will be channeled towards the regulatory guidelines of these sites. One possibility is that Artificial Intelligence will be widely used to flag harmful content.
Web3 social networks will revolutionize the social media industry. They have clear advantages like decentralization, privacy, and autonomy that resonate with most users. However, it has challenges like scalability, user experience, and regulation, which will be dealt with in the future, leading to a better experience. Web3 holds the key to the future of social networking.