What is Web3?
Throughout the course of the last few years, the term “Web3” has been thrown around a lot, but what exactly is it? In this piece, we will discuss Web3 and what it has to do with cryptocurrency. We will also take a look at how our Killer Whale Products capitalize on the growth of Web3.
Web1 and Web2
Web1 was the original version of the internet which existed in the 1990s and early 2000s. Web1 was far more decentralized than the internet as we know it today. As much of the internet was open source in the Web1 era, it was not uncommon to see pages which were not regularly updated. Many webpages in the Web1 era were more similar to blogs, as users did not have the option to interact with the sites they were visiting in many cases.
Web2 – more commonly referred to as Web 2.0 – is the internet that we are most familiar with today. The Web2 era is defined by the transition from an internet which was largely decentralized and unregulated, to an internet primarily run by large tech companies. In the Web2 era, much of the content populating the web went from being created in an open-source fashion, to being generated by users of large platforms, such as YouTube and Facebook.
Web3
Web3 is the next generation of the web, which is currently being constructed. Web3 will heavily rely on cryptocurrency, which is why it is so important to invest in cryptocurrency projects at this early stage. Using Killer Whale Products to gain cryptocurrency, is similar to investing in the original web, during the uprising of the .com era. As much of Web3 relies on decentralized applications, using products such as Gain ETH to gain Ethereum are particularly advantageous when considering the potential amount of growth DeFi brings to Web3. Many of the current web giants are actively streamlining their websites by adding Web3 inroads to their current projects. These inroads essentially incorporate cryptocurrency aspects into the current Web2 design, allowing users to own portions of the communities they participate in. Reddit for example is in the process of designing a system which will allow users to use tokens known as “Community Points” by posting content in certain subreddits. Hypothetically, users will be able to earn points, based on how many upvotes or downvotes they receive.
Web3 and NFTs
NFTs are a major cornerstone of Web3. NFTs are all over the media these days. If you are unfamiliar, NFTs, or Non-Fungible Tokens are one-of-a-kind cryptocurrencies, as each one of them is unique. NFTs are often used as certificates of ownership for digital artwork and other virtual objects. NFTs can however be used as certificates of ownership for real-world items as well, although this is far less common.
Since NFTs are one-of-a-kind digital assets, many individuals within the DeFi community believe that their inherent scarcity will become incredibly important for the future exchange of almost every virtual object. As an example, NFTs have a high potentiality of evolving far beyond the digital art world and moving on to more important applications, such as securing digitally formatted medical records, land deeds or car titles.
Web3 and the Future of Video Games and Media
In late October, it was reported that GameStop is attempting to hire a “Head of Web3 Gaming.” This new position will oversee a team of software engineers for GameStop’s upcoming NFT platform. Web3 will have a big emphasis on the gaming community, as many of its features will allow gamers to exchange in game items and earn tokens which will allow them governance over how the games themselves operate.
Conclusion
Web3 is quite real, and it will likely become a part of everyday life sooner than we know it. Investing in DeFi cryptocurrency projects such as Ethereum, Solana, and Cardano is paramount to buying into the technology which made the current HTTP/IP internet that we use today possible. Using Killer Whale Signals and Strategies to capitalize on this next frontier of the digital age has already proven to be incredibly advantageous by our satisfied Killer Whale Pod. Be sure to check out our signal services, such as Killer Whale Elite Signals as well as Killer Whale Premium Signals . If Killer Whale Strategies are more your thing, check out our Killer Whale Large Cap Sector Strategy , Killer Whale Gain ETH , Killer Whale Gain BTC , and Killer Whale Ultimate Strategy !
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