One of the main tenets guiding the creation of the Internet is the proper dispensation of information, knowledge, and effective communication. From its inception in the 1990s till date, the internet has been used to bridge information gaps and provide everyone with access to a world filled with knowledge. 

We have moved from the Web2 era which had those guiding principles of disseminating information to the Web3 era where we are now more conscious about the proper decentralization of ownership and decision-making to the people. In this article, we'll discuss these different eras of the internet and the need for bridging products that facilitate the transition from Web2 to Web3. We will also briefly discuss decentralization in the financial sector in web3, and how we can empower creativity and wisdom through blockchain technology. 

Evolution of Web2 and Web3 

When the internet was born in the early 1990s (aka Web1), it was mainly about people being able to browse static pages and find information there. Data were posted and users who needed them simply viewed or downloaded the content to view later. As time went on, however, users' needs grew and people needed to have more input in the content that was hosted on the internet. In some cases even, exert control over them. 

This saw the birth of Web2 where writable data became a thing. Because these websites and applications use user-generated content for end users, users now could write and provide their input to the Web. This period of the web, popularized by O'Reilly Media during the Web 2.0 Conference in 2004, was marked by a surge in user activity and better communication channels. 

Greater emphasis was placed on the ideas that were social networking, cloud computing, and general information sharing between users of the internet. This era saw companies like Google, Amazon, Facebook, and Apple gain popularity by taking the basic principle that guided Web1 and making it mobile, user-friendly, and dynamic. These platforms empowered and encouraged users to create and interact with the websites, instead of just absorbing content. 

The revolutionary idea that is Web3 came about from the combination of the advancements from the Web2 era with the best of Web1. This led to a focus on spreading information, benefits, and decision-making among many and not just a centralized few. We saw world-changing advancements in technologies like cloud computing and internet speed in Web2 and Web3 are continuing in those trends while offering ownership to people who partake in this web. 

Web3 is a blockchain-based internet that operates on the same decentralized technology that backs cryptocurrencies to create a more secure and private decentralized Internet. To build a decentralized internet, components like blockchain technology, peer-to-peer networking, and decentralized data need to be available. And these are some of the core components of today’s Web3.

While Web3 has been around for over a decade, the adoption of the technology has been comparatively slower than expected. This is due to factors that we will talk about in another article. The financial space however has seen an explosion in the last couple of years. The potential to democratize financial systems by removing centralized institutions from the process and opening geographical borders on the Internet has seen Decentralized Finance (DeFi) in its short existence reach highs that could never have been predicted. 

Every day, we see new DeFi platforms and Decentralized Applications (DApps) hit the marketplace and we also witness the birth of new blockchains that proffer solutions like improved user experience and impressive use cases. Regardless of this growth, there has been a constraint on user activities on different blockchains due to the chain's limitations. 

These blockchains only allow users to do specific things they approve of. This is not ideal. In an ideal Web3 space, users should be able to carry out cross-chain transactions and interoperate. These features should be the underlying technologies behind the adoption of these blockchains. This however isn't the norm in today's Web3 scene as blockchain networks operate in isolation. 

The problem of interoperability especially among DeFi platforms needs solving and MNICorp with its utility token is a company looking into that.

Multi-Faceted Tradable Utility Tokens in DeFi

The rise of decentralized finance has seen an increase in multi-faceted utility tokens. One such token is Mnl's token. MnI is a tradable multifaceted utility token that offers its community genuine DeFi experiences by introducing "real world" commercial enterprises with land-backed assets to the cryptocurrency space. With the use of this token, anybody can have access to institutional-style involvement, interaction, and leadership inside a multi-trillion-dollar sector. 

Through a Decentralized Autonomous Organization (DAO), Mnl offers its holders access to and control over the entity. The DAO's use enables constant full transparency for all holders. Put simply, Mnl is a community-enhanced ecosystem smart contract token that is tradable on both Centralized and Decentralized Exchanges

Problem(s) With Decentralization in Web3

As much as web3 is championing the decentralization cause, there are still problems plaguing the technology in that regard. The web3 industry is still in its nascent stage and doing —what should be considered simple— things like transactions on some blockchains has proved difficult. The inefficiency and cumbersome nature of moving assets from one blockchain to another can be confusing for users that are new to the technology. There's also the issue of web3 being inaccessible to web2 developers. 

Building on web3 requires new skills and approaches because the applications are built to be decentralized. This is different from the traditional client-server models used in web2 and it requires the developer to learn new programming languages like Solidity in addition to learning how to interact with decentralized networks and writing smart contracts. The current relatively fragmented nature of the industry doesn't make it easy for web2 developers to start their Web3 journey. 

These are some of the problems in web3 that ZKCross is solving. ZKCross is a unique platform that is bridging the gap between Web2 and Web3 without adding any redundant layer of complexity. The platform utilizes a WebAssembly (WASM) virtual machine (zkVM) as a cornerstone of its ecosystem. This is combined with a revolutionary Zero-Knowledge (zk) Shadow Layer. With zkVM, web2 developers can code in their preferred high-level programming languages like C or C++, or Rust.

Gaming Protocols in Web3 

Gaming is a big part of web3 technology. Backed by the blockchain, developers have built games that are more immersive and are a source of income for players. An essential part of the development of these games is gaming protocols. These protocols allow for interoperability which allows the movement of assets from game to game. 

An example of a gaming protocol is Winr Games. With the help of smart contract tools, a liquidity engine, and an incentive-based framework for developers, the Winr protocol is leading the charge to bring e-gaming to the web3. Using Winr's Software Development Kit (SDK), developers can build fast games on the blockchain.

Web3-powered Gaming in Web3

Gaming in web3 has taken a whole new level from where it was in web2. With its decentralized infrastructure, gamers now have full control of their assets in the games they play. Gamers can also trade these assets as Non-Fungible Tokens (NFTs) on marketplaces. Wicked Moai is an example of such a game. It is a fully on-chain gaming world that is designed to bring gamers, web3 enthusiasts, and creators together on a journey filled with adventure and excitement. Built on the zkSync blockchain, the game boasts of a secure, transparent, decentralized, immutable, and scalable ecosystem. 

Spreading Wisdom and Meeting Your Idols Via Web3

Until I came across this platform, I didn't think this was a thing in Web3. I didn't think there was a need to spread 'wisdom' using blockchain as a medium. But Sadhguru Sadupdesh thinks differently. 

Sadhguru is a private organization that is using blockchain to disseminate knowledge in order to create events and works of wise creative art that are both remarkable and sustainably rewarding. The company creates educational videos, songs, and event performances and promotes them across social media platforms with the collaboration of its partners to make their campaign reach as many as possible. 

This is a unique use of the blockchain that I find interesting and I'm very impressed with. Another unique use of the blockchain is what the guys at Idols are doing. Idols is an entertainment company in the Web3 space that offers users exclusive access to some of their favorite celebrities and Idols. According to CEO, Xerxes Frechiani (Double X), "Through Idols' tokenization, we offer exclusive benefits, experiences, and access to our holders. Idols provide something unique that the market has never seen. Where we merge the physical and digital worlds for the first time". 

Conclusion 

The internet has come a long way from its Web1 years to what we have now. Web3 still has some way to go as the technologies on which it is built are all still in their early stages. The coming-up of an alternative form of finance in DeFi points towards a bright future for the web3 space. As the industry evolves, solutions are going to be provided for the issues of interoperability and cross-chain transactions. 

Blockchain gaming is another pointer that the industry is changing lives for good and I'm confident it will continue to do so. I encourage you to explore the Web3 ecosystem today as many brilliant innovations are being churned out daily.