Introduction
Web3 is a blockchain protocol that enables smart contracts and the creation of Decentralized Applications (dApps). Web3 allows developers to build decentralized applications, but it also serves as an infrastructure layer for many other decentralized technologies, such as distributed ledger technologies (DLT), digital currency, and smart contracts. The goal of this post is to describe what Web3 is, how it works, why you might want to use it, and, more importantly, what you need before using it.
What is Web3?
Web3 is a new way to browse the internet. It's a decentralized web where users can own their data, control their identity and make money through digital trading assets.
Web3 domains are private islands on the internet where you can host your website or app with complete control over the ownership and privacy of your data.
Web3 domains are not attached to any central server but run on their blockchain and peer-to-peer network. This means that there is no single point of failure for these domains, and governments or malicious hackers cannot take them down.
What are Web3 domains?
In the context of Web3, a web3 domain is a unique URL that can be used to access dApps and other applications on the Ethereum network. The first web3 domain was created by Quik.com, which allows you to create and edit your articles on its platform.
The next wave of web3 domains is coming, and it will be more than just an Ethereum address with a dApp attached. Instead, it will represent a unique URL that can be used to access the data stored on the blockchain.
What's next?
- What's next for Web3?
The next step is to bring the power of smart contracts and dApps into the hands of everyone. We want everyone on Earth, from your grandmother to your friend at work, to be able to use their smartphone or computer and interact with one another through decentralized apps that run on top of Ethereum.
- What's next for Quik?
We're working hard on building an easy-to-use user interface for interacting with these new kinds of applications built using Web3 technology (and Ethereum). You'll be able to find out more about our progress here: https://go.quik.com/
We've just gotten started.
You've just gotten started with web3. We're just getting started, but there's lots of exciting stuff to come!
Web3 domains are new domain names that can be used as part of your URL or email addresses. It's not something you'll use daily yet, but we're excited about it because it opens up many possibilities over the coming years—and maybe even thousands!
Conclusion
Web3 Domains provide both flexibility and security for developers in creating blockchain services without dealing with the complexity associated with managing infrastructures such as mining nodes, transaction validators (miners), accountants, or auditors who may be needed if using a traditional blockchain system like Bitcoin. The best part is that once created, these new protocols will never go out-of-date, unlike other blockchains, which can experience performance issues over time due to increased traffic volumes on their network!