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1 - Web3 Concepts and General Introduction

from Part I - Foundations of Web3

Published online by Cambridge University Press:  21 November 2024

Ken Huang ,
Youwei Yang ,
Fan Zhang ,
Xi Chen  and
Feng Zhu
Ken Huang
Affiliation:
DistributedApps.ai
Youwei Yang
Affiliation:
Bit Mining Limited
Fan Zhang
Affiliation:
Yale University, Connecticut
Xi Chen
Affiliation:
New York University
Feng Zhu
Affiliation:
Harvard Business School
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Summary

Chapter 1 provides an overview of the concepts and definitions inherent to Web3. It presents a deep exploration into the phenomenon of "Convergence of Convergence," a term coined to denote the convergence of various dimensions within Web3, such as technology, data, user interactions, business models, identity, and organizational structures. The chapter also offers a comparative study of Web3 from different perspectives – tracing its evolution in the Internet era, analyzing its implications for user experience, evaluating its regulatory aspects, and understanding its scalability. Each of these aspects is explored in a detailed, standalone section, allowing readers to comprehend the multifaceted nature of Web3. The overarching aim of this chapter is to foster a comprehensive understanding of Web3, delineating its significance as a major shift in the Internet paradigm and its potential for creating more decentralized, user-empowered digital ecosystems.

Type
Chapter
Information
Web3
Blockchain, the New Economy, and the Self-Sovereign Internet
 , pp. 3 - 40
Publisher: Cambridge University Press
Print publication year: 2024

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