12/29/2023 0 Comments Touchdown ventures crunchbase![]() ![]() Also, each user's data is stored on their own computer, so even if a hacker were to gain access to a database, they could only access the data of one person at a time. Since there is no central server or database, it is much harder for hackers to access user data. One of the advantages of decentralization is that it makes the web3 more secure. One of the goals of the Web3 movement is to create a decentralized social networks. It remplaces the ancient web by the ability to create open protocols and decentralized, community-run networks, combining the open infrastructure of web1 with the public participation of web2. This means that there is no central authority controlling or regulating web3, and users have more control over their data and privacy. ![]() The biggest difference between web3 and the current internet is that web3 is decentralized, whereas the current internet is centralized with still some static websites. It has several key characteristics that differentiate it from the current internet: Decentralized This means that no central authority controls or regulates the internet, and users have more control over their data and privacy: we talk about decentralized web. Web3 refers to the next generation of internet technology, which is based on a decentralized infrastructure. Web3 is a decentralized, trustful, and private internet that makes use of blockchain technology. ![]() Web3 is less likely to be utilized in less-wealthy, developing nations due to high transaction fees. However for now, the relative cost of transactions is still prohibitive to many. This represents a very opportunity market for a venture capital firm. This dynamics is all the more important as it accompanies the development of artificial intelligence, cloud computing, and metaverse – all technologies which are closely related to new developments in Web3. 2023 is likely to see other countries moving to position themselves as Web3-friendly – often through the use of central bank digital currencies – such as India's forthcoming e-rupee and China's Digital Yuan. ![]()
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