<ul>
<li>First developed for the military, the internet wasn’t always the closed, capitalistic ecosystem that it is now. </li>
<li>Before the tech giants staked their claim on billions of users, it was a decentralized place with no custodian.</li>
<li>Now, only a handful of companies control most of the internet, using addictive content and smart algorithms. </li>
<li>They use the vast amount of user data generated every minute for building tools to predict consumer behaviour and feed their AI engines.</li>
</ul>

We Lost The Internet

User data is the fodder of AI(artificial intelligence) and is required for the global tech revolution. This personal information is the new oil, and individuals, who are the real and rightful owners of their data, are now starting to realize its value.

The Digital Currency: User Data

<ul><li dir = "auto">The early days of Web 1.0 had users connecting directly with friends and family and most of the online stuff was unregulated.</li><li dir = "auto">Web 2.0 has been mostly about social media and companies using consumer data for their AI engines.</li></ul>Web 3.0 aims to decentralize the internet by giving users complete control of:<ul><li>Their data.</li><li>Their communications.</li><li>Their networks.</li><li>Their security.</li><li>Their privacy.</li></ul>

Web 1 2 3

Web 3.0, or the DWeb, is the Decentralized Internet and does not have any hosting company, making it completely democratic.It is controlled by users themselves, and not by a handful of tech giants with valuations touching a trillion dollars.

Decentralized Internet

<ol><li>No possibility of monopoly or control by big tech.</li><li>Full security and privacy, due to its distributed nature.</li><li>Complete encryption of user data with no exploitation by tech giants.</li><li>Device interoperability for seamless and easy switching.</li><li>No central hosting results in no service failure.</li><li>Data is distributed in a semantic way across systems and platforms, bridging different data platforms and formats.</li></ol>

Benefits Of Decentralized Internet

<ul><li>Due to the non-compatibility of internet software and the high levels of technical skills required, work on the DWeb(Web 3.0) is facing slow developer adoption.</li><li>There is also the problem of having full security along with ease of use, as any security comes with censoring or restrictions.</li></ul>

Decentralized Internet: Challenges

Stashed ideas

Your Personal Data: Its True Value, Power, and Why It Really Is The New Oil

Web3 enhances the internet as we know it today with a few other added characteristics. Web3 is:<ul><li>Verifiable</li><li>Trustless</li><li>Self-governing</li><li>Permissionless</li><li>Stateful</li><li>Native built-in payments</li></ul>In Web3, developers don't build and deploy applications that run on a single server or that store their data in a single database (usually hosted on and managed by a single cloud provider).Instead, Web3 applications either run on blockchains, decentralized networks of many peer to peer nodes (servers), or a combination of the two that forms a <a href="https://thegraph.com/blog/modeling-cryptoeconomic-protocols-as-complex-systems-part-1" rel="noopener noreferrer" target="_blank">cryptoeconomic protocol </a>.

What is Web 3.0?

People can make a living by participating in the protocol in various ways, in both technical and non-technical levels. Consumers of the service usually pay to use the protocol, similarly to how they would pay a cloud provider like AWS today. Except in Web3, the money goes directly to the network participants. In this, like in many forms of decentralization, you'll see that unnecessary and often inefficient intermediaries are cut out.

No More Intermediaries

Tokens also introduce a native payment layer that is completely borderless and frictionless. Companies like Stripe and Paypal have created billions of dollars of value in enabling electronic payments. These systems are overly complex and still do not enable true international interoperability between participants. They also require you to hand over your sensitive information and personal data in order to use them. Crypto <a dir="ltr" href="https://everest.link/category/0xc00f480db7754ce2e0f992a1080598e53fc511a0/">wallets </a>like <a dir="ltr" href="https://metamask.io/">MetaMask </a>and <a dir="ltr" href="https://toruswallet.io/">Torus </a>enable you to integrate easy, anonymous, and secure international payments and transactions into Web3 applications.

Native payments

The current state of building a software company. Someone comes up with an idea, but in order to start building they need money in order to support themselves.To get the money, they take on venture capital and give away a percentage of the company. This investment immediately introduces mis-aligned incentives that will, in the long run, not align well with building out the best user experience.Also, if the company ever does become successful, it will take a very long time for anyone involved to realize any of the value, often leading to years of work without any real return on investment.

Current State Of Building Software

In the blockchain anyone can participate in building it or investing in it from day one. The company announces the release of x number of tokens, and give 10% to the early builders, put 10% for sale to the public.Stakeholders can use their tokens to vote on changes to the future of the project, and the people who helped build the project can sell some of their holdings to make money after the tokens have been released.People who believe in the project can buy and hold ownership, and people who think the project is headed in the wrong direction can signal this by selling their stake.

Future State Of Building Software

In Web3, <a href="http://sinahab.com/identity-and-reputation-in-web-3/" rel="noopener noreferrer" target="_blank">Identity </a>also works much differently than what we are used to today. Most of the time in Web3 apps, identities will be tied to the wallet address of the user interacting with the application.Unlike Web2 authentication methods like OAuth or email + password, wallet addresses are completely anonymous unless the user decides to tie their own identity to it publicly.If the user chooses to use the same wallet across multiple dapps, their identity is also seamlessly transferable across apps, which lets them build up their reputation over time.

How Identity Works in Web3

<a dir="ltr" href="https://www.freecodecamp.org/news/breaking-into-ethereum-crypto-web3-as-a-developer/">How to Get Into Ethereum, Crypto, and Web3 as a Developer </a>– This is an introduction to the space in general, coming from a developer, for developers looking to break into the industry. <a dir="ltr" href="https://www.freecodecamp.org/news/full-stack-ethereum-development/">The Complete Guide to Full Stack Ethereum Development </a>– This is a tutorial that teaches you how to build out your first dapp.

How to Build on Web3

If you’re reading this, you are already participating in the modern web (Web 2.0). The web we experience today is much different than what it was just 10 years ago (Web 1.0). And with Web3, it's getting ready to change again. In this article, I will lay

Decentralized Apps

What is Web3? The Decentralized Internet of the Future Explained

This accelerator will seed the blockchain ecosystem with startups using and building decentralized applications on the Filecoin and IPFS storage layer, fostering a new generation of web3 startups.

“Protocol Labs’ highly disruptive approach to cloud storage opens up incredible startup opportunities for developers who want to take advantage of Filecoin/IPFS’ decentralization, immutability, and affordability," said Isaac Kato. "I’m very eager to start working with the startups building the next generation of Web2 and Web3 decentralized apps.”

About Protocol Labs Protocol Labs is an open-source research, development, and deployment laboratory. Our projects include IPFS, Filecoin, libp2p, and many more. We aim to make human existence orders of magnitude better through technology. We are a fully distributed company. Our team of more than 100 members works remotely and in the open to improve the internet — humanity’s most important technology — as we explore new advances in computing and related fields. <a href="https://protocol.ai/">www.protocol.ai </a>

The Techstars worldwide network helps entrepreneurs succeed. Founded in 2006, Techstars began with three simple ideas—entrepreneurs create a better future for everyone, collaboration drives innovation, and great ideas can come from anywhere. Now we are on a mission to enable every person on the planet to contribute to, and benefit from, the success of entrepreneurs. In addition to operating accelerator programs and venture capital funds, we do this by connecting startups, investors, corporations, and cities to help build thriving startup communities.

About Techstars

Filecoin, the world’s largest decentralized network, allows users to store, request, and transfer data via a verifiable marketplace. Filecoin is completely open-source, enabling people from all over the world to participate. The Filecoin protocol runs on an advanced and novel proof system -- a combination of Proof of Spacetime (PoSt) and Proof of Replication (PoRep), to provide unmatched efficiency and reliability. Filecoin’s advanced technology provides a robust foundation to store the world’s most valuable data sets.