As the hype around Web3 reaches fever pitch, there is a growing divide between engineers who see an exciting new paradigm for web development and those who only see efforts to make a quick buck, wrapped in plenty of techno-vapor.
As Web3 is currently defined, it is a vision for the public internet where data and content are registered on blockchains, tokenized, or managed and accessed on peer-to-peer distributed networks. It is the decentralized internet that currently supports cryptocurrencies, nonfungible tokens (NFTs), and new types of decentralized applications (called dapps) underpinned by a distributed ledger.
This new model for building software on distributed blockchains is certainly a major departure from traditional three-tier architectures and, depending on your perspective, is a major opportunity for developers who want to jump on the latest tech trend.
According to analysis by crypto-focused venture capital firm Electric Capital, the Web3…
Continue reading on source link