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There are various opinions and definitions on what Web3 is, let's have a look to a few mentioned:
Blockchains are extremely painful to use for various reasons:
But despite that it has three features which make it absolutely unique:
"Blockchain makes sense to use when trustless event ordering, transparency and immutability are absolutely essential."
Let's have a look to different situations where Trustlessness and transparency really matter:
"The more of these attributes come together, the more of a compelling blockchain and web3 usecase there probably is."
Let's say you spot a project which offers a 18% guaranteed returns using web3.
Now you should ask yourself:
Nothing... In this case we see a lack of basic connection.
In this case we have a Unicef project which aims to support internet access accross South America and Africa. And it operates as follows:
In this last examples let's imagine this scenario: Artist/Programmer/Refugees living in 18 countries want to start a company/collective/organization. The following doubts arise:
"Smart contract built on a decentralized system which connects real world events to the flow of money begins to make a lot of sense."
Even with overwhelming rationale for blockchain, still need to deal with:
"Summarizing, if someone comes to you and promises you a lot of cash quickly and easily that's not really a web3 project.
Instead what we're looking for are a combination of attributes that are forcing that project to use decentralized systems despite all their problems."
Web3 isn't inherently a scam, it all depends on the purpose, community and goal of the project.
In this TED Talks he gives us guidelines on how to make good project judgements without falling for scams.
CPO, CMO & Project Manager at SpaceRiders | Business Administration and Management Student | Blockchain, DEFI & Web3 | Social Worker | "Fix the money & fix the world."
In this brief but intense TEDxTalks Jan Liphardt gives us guidelines and tools to detect scams on the now famous Web3.
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