“Internet of the Future” in the form of a World Wide Web concept based on cryptocurrency technology and decentralization, known as Web3, solves some of the problems of today’s global network.
Specialists of the cryptocurrency exchange Coinex in one of the recently published materials considered the features and prospects of the spread of the so-called “Web3 data storages”.
It is about the principles of organizing data storage within a new interpretation of the World Wide Web.
A fresh iteration of the Internet space has to do with technology from the world of cryptocurrencies, in particular blockchain technology, but first things first.
Decentralized registry
In 2008, the anonymous developer Satoshi Nakamoto published a description of the Bitcoin protocol and how it works as a peer-to-peer payment system.
Then, as part of the first cryptocurrency Bitcoin was used blockchain technology – the decentralized and consistent storage of data in the form of a registry, protected by cryptography (encryption).
In fact, it was the blockchain that became the “killer chip” for the first cryptocurrency, which determined the vector of development of new electronic means of payment.
Thanks to blockchain technology, we have money that is not issued by a single issuer, but can be confirmed by the network members themselves.
Simply put, blockchain has allowed us to store all information in a decentralized way;
Why do we need decentralization at all? Blockchain allows you to write some information in blocks in sequence.
Network members can store “copies” of previously recorded information and compare it with each other.
If only one participant were responsible for storing information, he would be tempted to adjust or manipulate it to his own advantage.
That is why it is not profitable for network members to trust any one person, but it is profitable to organize decentralized storage.
Evolution of the Internet
It’s accepted to divide the development of the Internet into some conditional “epochs”, or rather versions: from Web1 in the past to Web2 in the present and future Web3.
You can read more about the differences between these versions in the corresponding section on the Coinex website.
We’ll just note that Web1 was a set of “static” websites that allowed users to browse and read information.
With the development of Web2 all that has changed, as people have been able to generate their own content online and generally be more active.
For example, if in Web1 the user could only read the latest news on the Internet, in Web2 he can already keep a personal blog on one of the sites.
But people’s actions are still limited and bound by the fact that the storage of information is done by centralized actors.
Web3
Unlike Web2, Web3 uses technologies like blockchain to organize data storage.
We have already considered its benefits in the organization of electronic payment systems, but finance is only one of the possible applications of technology on the Internet.
Instead of a few centralized participants requiring an incredible level of trust, the Web3 could eventually organize methods of storing any other information through decentralized applications and blockchain networks;
Decentralized storage
Web3 repositories use a similar distributed model. Only the information, in fact, can be any. User data is divided into small fragments and shared between nodes on the network.
This allows you to strengthen their defense against malicious attacks. Clearly, it is much easier to crack one source than many.. As with cryptocurrency, all data in the vaults is protected by encryption.
Experts note that the Web3 concept will likely be implemented in parallel with elements and solutions from Web2.
In general, the differences from the usual storage space for many of the users who are not immersed in this issue (and not much interested in security issues) will not be much.
On the other hand, existing user-friendly Web2-based user interfaces can continue to be in demand.
A key feature of Web3 is the very principle of data storage and maintenance, and such an element can be introduced gradually;
Fragmenting information
If in the normal Internet model you just go to some resource and request a whole file, in Web3 storage, because data is fragmented it will come from different nodes.
This kind of compartmentalization ensures that no one on the network is stealing your data.
In order to access your information, decentralized repositories generate private keys for you. Only their actual owner can get to the right information.
This gives an advantage over centralized storage, where by and large you have to trust the network operator.
As an example, we can again take a special case of decentralized storage in the form of bitcoin cryptocurrency, where the owner of the cryptocurrency is actually the owner of the private keys.
Thus, Web3 storage is a more secure way to store data compared to traditional versions of information content.
Whether you should use them depends on how important it is for you to keep your files secret. A more detailed list of projects providing Web3 storage can also be found on Coinex.