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Web3 13 articles

Web3 Unicorn Mysten Labs Is Making Greece Its Next Engineering Hub

By Bojan Stojkovski

California-based Web3 infrastructure company Mysten Labs has big plans for Greece as it looks to […]

Greek-founded Rated Labs Raises $2.5M to Provide Better Transparency in Web3 Infrastructure Data

By Bojan Stojkovski

 • Greek-founded Web3 infrastructure project Rated Labs raised $2.5M in a seed round  • The […]

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Web3 is the next-generation web. It will be built on a decentralized and peer-to-peer network, with each user interacting only with their own personal data, instead of relying on centralized services for most of their daily tasks.

This means no more big brother (large technology companies) watching over your shoulder and making money off your data or browsing history.

What is Web3 all about?

Web3 is a web of protocols, people, values and applications. The decentralized nature means that there are no central authorities like governments or corporations who can censor or control the flow of information.

The investor Packy McCormick, who contributed to the popularization of web3, defines it as “the internet owned by the builders and users, orchestrated with tokens.”

The most famous example of this right now is the Bitcoin blockchain technology. But there are many other exciting technologies such as Ethereum (which supports smart contracts) and IPFS (which allows you to store files on multiple computers instead of just one server).

From Web1 and Web2 to Web3 – history of the evolution

If you’re like us, your first real exposure to the internet was from the earliest days of Web1. It was a world where people were largely free to share information and ideas with one another.

But then came Web2 – a time when corporate interests began exerting more control over what we could see online (and in turn, how our data was used).

Now we’re entering a new phase: Web3. The advent of blockchain technology means that there’s a chance for us all to regain our power over information and data, so it’s important that we understand what this transition means so that we can take advantage of its potential benefits while avoiding pitfalls along the way.

Web3 is an evolution of both existing tech trends and new ideas about how people should interact online going forward; it represents an opportunity for everyone involved in digital content creation or consumption.

That varies from consumers themselves through service providers like ISPs/entertainment companies all up until policy makers – to leverage technology in ways that better support user privacy rights as well as create opportunities for creative expression on an unprecedented scale by removing barriers, preventing artists from reaching audiences outside their local communities via platforms, such as YouTube.

it looks like web3 will be the future of the intenet

Web technologies under the Web3 cap

The Web3 stack is the set of technologies that build the base layer for the decentralized internet. It includes blockchain, cryptocurrency, decentralized applications (dApps), smart contracts, cryptoeconomics and more.

Here is what you need to know about them :

  • Blockchain is a decentralized database that records immutable transactions on a distributed ledger.
  • Cryptocurrency is digital money used for payments.
  • Decentralized applications (dApps) are applications running on a peer-to-peer network instead of a centralized server or service.
  • Smart contracts are pieces of code that live on blockchains and automate interactions between parties without requiring human intervention or intermediaries like banks or governments. They can be written in any programming language but usually take advantage of Solidity which was designed specifically for Ethereum’s virtual machine EVM

FAQ

Who are the authors in the Web3 channel?

Our journalists that focus on this topic are Maria-Antoanela Ionita, Bojan Stojkovski and Elena Vrabie.

There are many reasons why we are excited about this new paradigm of computing, and we hope that our post has given some insight into why this is so important to us.

What materials are written most often?

At The Recursive, we focus on global web3 trends as well as the local success stories of web3 companies in Central and Eastern Europe such as Nexo, Tenderly, Paysafe, and Limechain.

Can I subscribe for updates on web3 trends?

We would like to take this opportunity to invite you to join us in our exciting journey and subscribe to The Recursive newsletter to get the newest Web3 insights from Southeast Europe in your mailbox.

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