2. Web3.0 Ecology

The diversified ecology system of Web3.0 makes it possible to realize the immersive interactive network with user-centered participation:

  • Identity: Users use wallets, multiple virtual avatars to interact with the Web3.0 network ecology.

  • User interaction: User interaction takes advantage of blockchain technology to realize value creation, distribution, and circulation.

  • Organization: Users form autonomous organizations and collaborate to develop Web3.0 ecosystem applications, tools, protocols, and so on.

  • Support at the bottom: The bottom support for Web3.0 is provided by blockchain from the technical layer and distributed storage from the data layer. Users interact with one another in the online world by using virtual social avatars. The collection of virtual avatars is used in Web3.0. Decentralized identity DID refers to identity that is truly owned and mastered by users (Decentralized Identity). When compared to Web2.0 user identities, Web3.0 user identities have significant differences in identity control, openness, security, and privacy. User identity in Web3.0 ecology is decentralized, and it has the following characteristics:

  • Decentralization: DID, as a collection of user identities, is entirely in the hands of users, but not under the control of any single organization.

  • Manifestation: Users store the identity authentication information issued by various institutions on a blockchain address that they completely control. This blockchain address is also the user's wallet address.

  • Model: Users may log in to each application on Web3.0 by using the wallet address. The experience is similar to Web2.0. The difference is that DID is owned and controlled by users, whereas social platforms are constrained by the platforms themselves.

Furthermore, the value characteristics of Web3.0: an open, private, and co-created world provide a theoretical foundation and practical feasibility for the development of new social networks.

1) Openess

Users' access to a specific Internet application "domain" is completely free, and the threshold is low. For example, users use a blockchain account address to log in to the chain's application, which is convenient to operate without registration permission, users' behavior is not restricted by third-party entities, and Internet applications break the original so-called boundaries and barriers between ecology.

The most direct example is DeFi. Any application can aggregate the basic protocol such as DEX, and the synthetic asset platform maps real-world assets to the chain, effectively breaking down the barriers between online and offline, as well as virtual and reality. Furthermore, in the Web3.0 world, applications based on different infrastructures can be interconnected by "cross-chain" protocol, thus, user behaviors in multiple applications in the Web3.0 world can produce similar social relationship maps, which can further enhance the mining potential of data value.

To use a game application as an instance, users can easily enter a game world without being restricted by a third party, they can freely implant their favorite characters and images into the games. However, in the Web2.0 era, such as games like Jedi Survival, players can not choose their own characters, simply because control is not in the hands of users.

Players can also trade equipment like character skins via NFT and create a complex game equipment derivatives market based on DeFi agreements. In a word, the Web3.0 way of life is completed across application platforms, beyond virtual and reality.

2) Privacy

Data privacy has become the focus of global regulation. The current solution is to strengthen legal protection and make users realize that getting user data without acknowledgement is illegal. The second is to introduce privacy computing, through technologies such as dynamic encryption, multi-party secure computing, and a trusted execution environment, to ensure that data is invisible during use. In the era of Web3.0, users will tend to protect personal data privacy in a more thorough way, which will lead to the transfer of data ownership and value.

When data in the chain can be checked due to the decentralization of applications, users' behaviors, generated data, and even application protocols require privacy protection. Basic blockchain platform privacy protection, stored data privacy, user private key management, anonymous protocol, and many other aspects are all part of privacy protection.

3) DAO:A Network World of Co-construction, Co-governance and Shared Value

Web3.0 ecology construction, such as applications, tools, protocols, and so on, cannot be separated from collaboration, and the organizational form that allows users to collaborate in an orderly manner is known as DAO (Decentralized Autonomous Organization). DAO is decentralized throughout the process, and users are organized and formed to achieve common goals. Rules are developed and implemented using blockchain technology and intelligent contract procedures to achieve a fair form of community self-governance. The value capture of users in creators' economic sharing is limited in many ways in Web2.0 Internet applications, particularly in community governance. The open principle of Web3.0 will break these constraints, and the blockchain incentive mechanism will effectively feed back the value of the content economy to creators.

Blockchain technology is the fundamental technical foundation for the formation of DAOs. Organizational rules are written in blockchain smart contracts and guaranteed to be implemented by programs. Simultaneously, the rules are stored on the block and cannot be easily altered. During the DAO's establishment, value will be created, distributed, and circulated. DAO is well-established in user interaction and constantly adds value to the interaction. DAO distributes value by issuing project tokens and NFT, allowing users to benefit from DAO's governance and income rights. DAO and NFT tokens can also be used in DeFi.

In terms of organizational structure, organizational rules, and rights ownership, DAO is quite different from traditional organizational forms in the Web3.0 era. DAO has the following benefits: organizational rights are distributed to all organizational members in the form of organizational tokens, realizing community autonomy and rights distribution, greatly stimulating organizational member participation and enthusiasm, and playing an important role in promoting the construction of Web3.0 social projects.

Last updated