Web3's Evolution: From Decentralized Internet Vision to Cryptocurrency Dominance
By
warrenm
Slow-proofed and worth the wait. Worth its weight in flour.
Summary
The article explores Web3's evolution from Gavin Wood's original vision of a decentralized, peer-to-peer internet based on blockchain technology to its current reality dominated by cryptocurrency applications. It examines how cryptography serves as the foundational technology for blockchains, and notes the recent pro-cryptocurrency stance of the Trump administration as a factor boosting blockchain's prominence and media attention.
Key quotes
· 3 pulledThe term Web3 was originally coined by Ethereum cofounder Gavin Wood as a secure, decentralized, peer-to-peer version of the Internet.
The idea was to build an Internet based on blockchain technology and a peer-to-peer network, without the need for large data centers or third-party providers.
Cryptography is central to the functioning of blockchains, whether for a decentraliz
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