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Web3 isn't about cryptocurrency, it's about owning your own identity instead of Google, Apple, Facebook.

by nailer 4y ago

ceejayoz 4y ago
What "web3" project doesn't involve a cryptocurrency concept as a technological underpinning?
- nailer 4y ago
  With a zero balance, identity. Identity is simply connecting to a wallet and reading a signed DID - the wallet could have zero balance and it still works. Boom you just signed into something without Google / Facebook / Apple. With close to a zero balance (but not quite zero) to pay transaction fees, you can do peer to peer encrypted messaging without central arbiters. With close to a zero balance (but not quite zero) to pay transaction fees, you can send vast quantities of stablecoins to the otherside of the world - that said a web3 skeptic may consider stablecoins to be a cryptocurrency (there's arguments either way, they're tokens but not minted via proof of stake) and capitalisation is an issue. Edit: reply to peoplefromibiza, who made some good points, due to rate limit: > wallets are a cryptocurrency concept yes, agreed. But they do a lot more than let you speculate on cryptocurrencies. Right now I'm working on wallet for people who have zero interest in speculating on cryptocurrencies. > you can do the same thing with a client certificate yes agreed. You can think of web3 as a better PKI. I do.
  - peoplefromibiza 4y ago
    wallets are a crtptocurrency concept. you can do the same thing with a client certificate, boom, you are who the cert says you are.
    - larsonnn 4y ago
      This.
    - nailer 4y ago
      > wallets are a cryptocurrency concept yes, agreed. But they do a lot more than let you speculate on cryptocurrencies. Right now I'm working on wallet for people who have zero interest in speculating on cryptocurrencies. > you can do the same thing with a client certificate yes agreed. You can think of web3 as a better PKI. I do.
      - peoplefromibiza 4y ago
        > yes agreed. You can think of web3 as a better PKI. I do. interesting point. from a UI perspective, it's kinda true. could have been their killer app, if the whole ecosystem thought about it, but in the end it's been just a byproduct of something that proved zero usefulness and even the "better PKI" argument it's been somewhat replicated by letsencrypt for HTTPS and it will for everything else when a sufficient number of users will show interest for it.
NikolaNovak 4y ago
I find that a shifting squiggly goal. I have not yet seen a "web3" without block chain / crypto.
jnwatson 4y ago
“When I use a word,’ Humpty Dumpty said in rather a scornful tone, ‘it means just what I choose it to mean — neither more nor less.’ You are free to think that, but most folks' use of the term relates strongly to cryptocurrency.
- nailer 4y ago
  > You are free to think that, but most folks' use of the term relates strongly to cryptocurrency. Most people have no idea what web3 or web 2.0 is. But yes, the common definition is the decentralised web. https://en.wikipedia.org/wiki/Web3 https://en.wikipedia.org/wiki/Web3

Web3 isn't about cryptocurrency, it's about owning your own identity instead of Google, Apple, Facebook.

by nailer 4y ago

Web3 isn't about cryptocurrency, it's about owning your own identity instead of Google, Apple, Facebook.

ceejayoz 4y ago

What "web3" project doesn't involve a cryptocurrency concept as a technological underpinning?

nailer 4y ago
With a zero balance, identity. Identity is simply connecting to a wallet and reading a signed DID - the wallet could have zero balance and it still works. Boom you just signed into something without Google / Facebook / Apple. With close to a zero balance (but not quite zero) to pay transaction fees, you can do peer to peer encrypted messaging without central arbiters. With close to a zero balance (but not quite zero) to pay transaction fees, you can send vast quantities of stablecoins to the otherside of the world - that said a web3 skeptic may consider stablecoins to be a cryptocurrency (there's arguments either way, they're tokens but not minted via proof of stake) and capitalisation is an issue. Edit: reply to peoplefromibiza, who made some good points, due to rate limit: > wallets are a cryptocurrency concept yes, agreed. But they do a lot more than let you speculate on cryptocurrencies. Right now I'm working on wallet for people who have zero interest in speculating on cryptocurrencies. > you can do the same thing with a client certificate yes agreed. You can think of web3 as a better PKI. I do.
- peoplefromibiza 4y ago
  wallets are a crtptocurrency concept. you can do the same thing with a client certificate, boom, you are who the cert says you are.
  - larsonnn 4y ago
    This.
  - nailer 4y ago
    > wallets are a cryptocurrency concept yes, agreed. But they do a lot more than let you speculate on cryptocurrencies. Right now I'm working on wallet for people who have zero interest in speculating on cryptocurrencies. > you can do the same thing with a client certificate yes agreed. You can think of web3 as a better PKI. I do.
    - peoplefromibiza 4y ago
      > yes agreed. You can think of web3 as a better PKI. I do. interesting point. from a UI perspective, it's kinda true. could have been their killer app, if the whole ecosystem thought about it, but in the end it's been just a byproduct of something that proved zero usefulness and even the "better PKI" argument it's been somewhat replicated by letsencrypt for HTTPS and it will for everything else when a sufficient number of users will show interest for it.

NikolaNovak 4y ago

I find that a shifting squiggly goal. I have not yet seen a "web3" without block chain / crypto.

jnwatson 4y ago

“When I use a word,’ Humpty Dumpty said in rather a scornful tone, ‘it means just what I choose it to mean — neither more nor less.’ You are free to think that, but most folks' use of the term relates strongly to cryptocurrency.

nailer 4y ago
> You are free to think that, but most folks' use of the term relates strongly to cryptocurrency. Most people have no idea what web3 or web 2.0 is. But yes, the common definition is the decentralised web. https://en.wikipedia.org/wiki/Web3 https://en.wikipedia.org/wiki/Web3