Web 3.0 - The world computer?

Artificial Intelligence Blockchain Startups Technology Innovation

Posted by Enrico on Apr 04, 2017 1650

More and more people are starting to talk about Web 3.0. But what is it exactly? It is believed to be a smarter version than the current one, and one in which data, concepts, applications and, ultimately, people will be connected through technology. To make it possible, we need a truly decentralized world, where everybody contributes to the safety of the network. Think of how the Blockchain technology made it possible for a decentralized currency like BitCoin to become mainstream.

Technological decentralization will allow the development of a so-called “world computer”.  For a computer to be fully useful, we need computational power and logic, we need to be able to store data and we need some way of communicating data in the network. This can be summarized as follows:

  • Contracts
    Here we find the decentralized logic required to enforce rules and to keep order in the system.
    Etherium is currently the state-of-the-art technology for so-called smart contracts.
     
  • Storage
    Single computers will store data in a decentralized way. There is no need to store all the data in one computer. Single computers in the network will make money by hosting packets of data. Computers requesting data that they do not store will find these data somewhere in the decentralized network and pay a small fee to retrieve it.
    Swarm is an attempt to achieve decentralized storage in the Etherium network. Swarm is not tied to a specific physical storage system. It could be IPFS, BitTorrent, or some future technology not yet invented.
     
  • Communication
    A decentralized communication system will take care of the communication inside the network.
    Whisper is being developed under the Etherium platform to let apps broadcast messages securely between users.

Please note that the above-mentioned elements will need to be independent of each other for the system to work.

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    Enrico Tam

    MBA, PhD, tech entrepreneur, maker

    Hi, I’m Enrico and I started hacking at 9 years old back when it was Visual Basic. After trying to become a professional tennis player I somehow got entangled in a PhD in engineering, an MBA programme and a big consulting fir... (continued)

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