{"id":370003,"date":"2021-11-20T18:46:00","date_gmt":"2021-11-20T15:46:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/the-three-traits-of-web-3-0-that-fix-what-went-wrong-with-todays-internet\/"},"modified":"2021-11-20T18:46:00","modified_gmt":"2021-11-20T15:46:00","slug":"the-three-traits-of-web-3-0-that-fix-what-went-wrong-with-todays-internet","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/the-three-traits-of-web-3-0-that-fix-what-went-wrong-with-todays-internet\/","title":{"rendered":"# The three traits of Web 3.0 that fix what went wrong with today\u2019s internet"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3d8274c7681\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3d8274c7681\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/the-three-traits-of-web-3-0-that-fix-what-went-wrong-with-todays-internet\/#Open_code\" >Open code<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/the-three-traits-of-web-3-0-that-fix-what-went-wrong-with-todays-internet\/#Transparent_economics\" >Transparent economics<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/the-three-traits-of-web-3-0-that-fix-what-went-wrong-with-todays-internet\/#Aligned_incentives\" >Aligned incentives<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/the-three-traits-of-web-3-0-that-fix-what-went-wrong-with-todays-internet\/#Whats_next_for_Web_30\" >What\u2019s next for Web 3.0<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># The three traits of Web 3.0 that fix what went wrong with today\u2019s internet <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Blockchain tech has come a long way. It wasn\u2019t that long ago that crypto remained at the fringes, evangelized by a vocal minority. The narrative shifted once the COVID-19 pandemic pushed people into their homes with plenty of time to dive into new interests. Crypto benefited from the increased attention, entering everyday conversations among friends, family and colleagues.<\/p>\n<p>Even so, it\u2019s still early in crypto. Widespread adoption remains elusive and traditional tech gatekeepers maintain their grip on the digital economy. To loosen that grip, those of us building the decentralized internet, or Web 3.0, have to do a better job at defining the narrative about what\u2019s at stake if we continue along with the status quo.<\/p>\n<p>We have an especially compelling opportunity to seize the narrative after this past month when sentiment against Web 2.0\u2019s centralized controllers turned especially sour. The stakes are becoming clearer as we see how Web 2.0\u2019s structural inequalities affect us all.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-11\/310b80e8-4a51-4102-8df8-04a53bcb8e0a.png\"><\/figure>\n<p>First, <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Facebook<\/a> testified in front of Congress as a former employee <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.washingtonpost.com\/technology\/2021\/10\/05\/facebook-senate-hearing-frances-haugen\/\">came<\/a> forward with suppressed research showing the platform put \u201cprofits over safety\u201d of its users. The testimony was coupled with a major outage at Facebook, affecting all of its products worldwide. Then, finally, an anonymous hacker <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-10-06\/amazon-s-twitch-is-hacked-exposing-source-code-creator-payouts\">published<\/a> a trove of Amazon.com Inc.&#8217;s video <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/game\/\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Game\" target=\"_blank\" rel=\"noopener\">game<\/a> streaming platform Twitch data that included source code and creator payouts in an attempt to \u201cfoster more disruption and competition in the online video streaming space.\u201d<\/p>\n<p>While I don\u2019t condone unauthorized access to a company\u2019s proprietary information, I certainly understood the emotions involved. As a Web 3.0 entrepreneur focused on building an open infrastructure for video streaming, the size and reach of Twitch, YouTube and Facebook can stifle innovation. There\u2019s not much space for upstart services to muscle their way into territory that\u2019s dominated by the economies of scale (and access to eyeballs) that these companies enjoy.<\/p>\n<p>So, how can we bend the web back toward its original vision of being an open platform and global utility where anyone can contribute and build? We need to seize the narrative to welcome more builders and users at the core of a thriving Web 3.0 ecosystem. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"Open_code\"><\/span>Open code<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The open-source nature of Web 3.0 means that rather than proprietary code being hacked and leaked, contributors can collaborate on <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> and features from day one. Contrast that with the walled gardens built and protected by the Big Tech gatekeepers. Once locked inside, there\u2019s little recourse or ability to leave. People, companies and developers are simply beholden to the whims of the centralized authority, forced to adapt to changes in product or terms.<\/p>\n<p>I witnessed the outsized influence these gatekeepers have on developers firsthand. After our first company was bought by Groupon, my co-founder and I built a company that relied on <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>lication programming interfaces (APIs) from the major tech gatekeepers: Facebook, Google, Pinterest and Twitter. Initially, these platforms were more open, allowing us to plug our service into these platforms. Abruptly, our access was cut off as these platforms decided to close off access to third parties. Our service ended up failing because those platforms didn\u2019t remain open, which was a vivid lesson of the risks of building on someone else\u2019s tech stack.<\/p>\n<p>This experience led us to our next venture: building the open video infrastructure for live streaming. By building in an open and decentralized manner, we\u2019re able to attract developers, nurture a community and re-align incentives that protect all stakeholders. It\u2019s an approach that requires a shift from a mindset of protectionism to one of abundance. The pie is either only so big. Therefore, the competition must be stifled and prevented at all costs or the sum is greater than its parts, and a community can build more value together than it could alone.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Striking a chord: DeFi\u2019s domino effect on NFTs and Web 3.0 adoption<\/em><\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Transparent_economics\"><\/span>Transparent economics<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>At its most pure, the Web 3.0 economy is transparent and permissionless, giving stakeholders the confidence that entrenched interests aren\u2019t secretly pulling the strings and controlling outcomes in their favor. This form of creative patronage becomes more popular every day, as it\u2019s much more creator-friendly than current options.<\/p>\n<p>These transparent economics are what creators lack from existing Web 2.0 dynamics. As creators build within walled gardens, they remain locked into whatever economics each platform chooses. And if the platform changes those economics, the creator has little recourse: With few alternatives, the option to leave is often economically infeasible.<\/p>\n<p>Web 3.0 builders must also underscore how the elimination of tax-taking gatekeepers allows creators to keep more of the money they\u2019ve earned from their communities. \u201cKeep more of what you earn\u201d and \u201cSupport more of what you love\u201d are great narrative boosters as Web 3.0 looks to displace Web 2.0. With that messaging, it\u2019s not only about empowering creators but also about empowering fans to give more of their money to their favorite creators.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-11\/1b496ea3-0992-440a-92e0-a2a32b125968.png\"><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Aligned_incentives\"><\/span>Aligned incentives<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The final pillar of Web 3.0 is aligning incentives between creators, users and the platform itself. These incentives influence a platform\u2019s accountability and governance, which then affects toxicity, inclusion and control.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>DeFi and Web 3.0: Unleashing creative juices with decentralized finance<\/em><\/strong><\/p>\n<p>Accountability and governance are major issues when it comes to aligning incentives. Web 2.0 gatekeepers have little incentive to \u201cdo right by\u201d creators and users. Why would they? Since there\u2019s little competition, users are stuck in the walled garden. And, as privately-owned entities with little outside regulation, they can do whatever they want. It\u2019s a \u201cwe set the rules, so take it or leave it\u201d attitude and an \u201cus vs them\u201d mentality.<\/p>\n<p>With Web 3.0, governance is often decentralized via a decentralized autonomous organization, or DAO, or other ingrained community feedback mechanisms. By decentralizing community management away from centralized authorities, there\u2019s a tendency toward self-moderation. Communities built around shared passions enjoy natural moderation and when community members step out of line, the community takes action. And if a community member dislikes something, they can submit proposals for community vote to change the platform\u2019s direction. <\/p>\n<p>Ultimately, creators want more direct relationships with their fans and influence over the governance of the platforms they use. The Web 3.0 paradigm attempts to address this by enabling creator-driven platforms that also allow users to be owners in platforms, often coordinated through tokens. As they benefit directly through the growth of the platforms, users have the incentive to provide key services like moderation to prevent things like hate raids.<\/p>\n<p>Of course, nothing is perfect. Web 3.0 will still struggle with some of the moderation issues faced by other major platforms. Critics of decentralized platforms say that the lack of a centralized authority will make moderation even more difficult.<\/p>\n<p>But, as more platforms emerge to serve niche communities (rather than a single entity capturing everyone inside a walled garden), these smaller communities are less appealing targets for the toxicity that plagues larger platforms with global reach. It\u2019s just harder to peddle misinformation and engage in trolling when there are dozens, or hundreds, of platforms. <\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Adapt or die: Venture capital vs. crypto, blockchain, DAOs and Web 3.0<\/em><\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Whats_next_for_Web_30\"><\/span>What\u2019s next for Web 3.0<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Web 3.0 builders must recapture this narrative and move beyond \u201cwinner takes all\u201d to \u201ccommunity above all.\u201d It won\u2019t be easy. And there\u2019s still a way to go until Web 3.0 <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=IkYpS6dW8AA\">generates <\/a>more creator wealth than the internet ever did.<\/p>\n<p><iframe loading=\"lazy\" title=\"How crypto can win the race for Web 3.0 | Interview with Tegan Kline\" width=\"640\" height=\"360\" src=\"https:\/\/www.youtube.com\/embed\/d9qr1UB9vWs?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<p>As Web 3.0 scales, we also have to protect ourselves from regressing towards the mean. It would be a shame to simply replicate the existing gatekeeper model. That\u2019s why we must continue to deftly message the Web 3.0 narrative to help both developers and everyday users understand the value of Web 3.0 \u2014 and the pitfalls of staying the course with Web 2.0\u2019s current dynamics.<\/p>\n<p>After watching Web 2.0\u2019s recent stumbles, it\u2019s clear that we\u2019ll continue to be gifted with impactful examples of just how far we\u2019ve gotten off track \u2014 and what we need to do to restore the original vision of the internet as an open place that\u2019s additive and creative for society.<\/p>\n<p>We\u2019re in this for the long haul. It\u2019s on us to evangelize, listen to users and build with a community mindset first and foremost.<\/p>\n<p class=\"post-content__disclaimer\"><em>This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.<\/em><\/p>\n<p class=\"post-content__disclaimer\"><em>The views, thoughts and opinions expressed here are the author\u2019s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.<\/em><\/p>\n<div>\n<div style=\"background: rgb(239, 239, 239); border: 1px solid rgb(204, 204, 204); padding: 10px;\"><strong>Doug Petkanics<\/strong> is a co-founder at Livepeer, where the team is building a decentralized live video broadcast platform to enable the next generation of video streaming. Prior to Livepeer, Doug was co-founder and CEO of Wildcard, a mobile browser. He also co-founded Hyperpublic, which was acquired by Groupon. He was the VP of Engineering at both.<\/div>\n<\/div>\n<p><template data-name=\"subscription_form\" data-type=\"crypto_biz\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/the-three-traits-of-web-3-0-that-fix-what-went-wrong-with-today-s-internet\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# The three traits of Web 3.0 that fix what went wrong with today\u2019s internet &#8221; Blockchain tech has come a long way. It wasn\u2019t that long ago that crypto remained at the fringes, evangelized by a vocal minority. The narrative shifted once the COVID-19 pandemic pushed people into their homes with plenty of time&#8230;<\/p>\n","protected":false},"author":1,"featured_media":370004,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMTEvNGY0ZDQxMjQtODdmNS00YmM0LWI3NGMtMzE1NTFkOTI4NTBjLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74894,74983,93542,74355,2758,4974,48],"class_list":["post-370003","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-blockchain","tag-decentralization","tag-web3","tag-adoption","tag-amazon","tag-facebook","tag-internet"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/370003","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=370003"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/370003\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/370004"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=370003"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=370003"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=370003"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}